Replying to Avatar StackSats.IO

GOLDBUGS AREN’T BITCOINERS

And they never will be.

Yes, they’ve identified a common enemy - central banks and governments who print money out of thin air.

And they have the right prescription - sound money.

Logically they should be our greatest allies, but they are not; why is that?

Because Goldbugs are in it for themselves. They want a return to a gold standard not because it would free people from fiat debt slavery, not to help the unbanked or to separate money and state.

No, they are goldbugs because it would pump their heavy bags. The fact gold is already captured and controlled means Goldbugs cheer when Central Banks buy more because they don’t want to overthrow the table and reset the system; they just want fiat repegged to shiny rocks in a vault no matter their rhetoric.

This is why so few actually convert to becoming Bitcoiners; they’re not in it for something greater than themselves - they’re in it only for themselves.

The few who have joined us had ideological axes to grind. Whether it was nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak watching his country get rekt, or nostr:npub1d3f4m9dgvkdjxn26pqzsxn6lpfn78sxwllxyt8mp76q0a9zyyjlswhr4xv who got fukt in the GFC or Quoth the Raven who realised the “cult” would be a self-fulfilling prophecy - they saw beyond 5000 years of history and understood this could be bigger than all that, and might actually work.

And this is why the Goldbugs ultimately failed - they had no positive vision to articulate for the world, and thus no identity for others to adopt.

They could tell you about a better monetary system but economics is inseparably intertwined with politics and culture and philosophy; without which they lacked a comprehensive worldview and aspirational conviction for others to follow.

Bitcoiners must learn from this lesson of the Goldbugs if we are to succeed. Millennials need to step up and lead the way, demonstrating a better life that people want to emulate and opt into.

Merely asking of the fiat system to use our money is not enough.

Gold isn't going up, fiat is going down

It's not about "pumping my bags" it's about having money that doesn't evaporate

And Bitcoin is nothing - a game of telegram, a chain letter

Just another fiat

Reply to this note

Please Login to reply.

Discussion

Fiat is by decree of a centralised authority - Bitcoin is anti-fiat.

If you truly wanted money that doesn’t evaporate you’d opt for the hardest money known to man which in 3 weeks after the halving, will be Bitcoin.

I don't care about stock to flow or whatever

Even if hyperbitcoinization happens gold's value will still be based on how difficult it is to pull out of the ground

While if gold circulates more freely Bitcoin can go to zero

You don’t care about S2F, but S2F cares about you. Ignoring economic reality will be your problem, no-one else’s.

Golds value will be like that of silver - staying flat forever Laura. It will find increasing industrial applications and lose its monetary premium.

It’s never coming back as money. We’re not returning to physical MoEs - the world has already moved on and it’s only the Goldbugs who believe we will regress to Mad Max societies.

I'm fine with flat forever

I don't hold gold to get rich (although I do think it will appreciate in real terms as fiat dies)