Subnostr

Gold, not even once

I had a chat with a gold bug yesteryday just listening to his reasoning, and his like Blackrock owns Bitcoin, its over, he doesn't know about nodes or consensus so a big part of the value prop was lost on this guy

I also found it funny how they have a distrust of the system, but trusts some regulated custodian who can be single point of failure. Its like saying I distrust the system, i got bitcoin but I keep it on coinbase lol wtf?

I feel like precious metal folks identified the problem but stopped there, and didn't look at all the limitations of metals

Reply to this note

Please Login to reply.

Discussion

StackSats.IO 1y ago

Goldbugs are stuck fighting the last war. They secretly know they can’t defeat fiat but they refuse to admit it.

Honestly a useless ally for Bitcoiners. Imagine a 16th century French musketman showed up to fight alongside a modern army - that’s Goldbugs alongside Bitcoiners.

Bearetta left 1y ago

My favorite is "but if computers are down then what"

Friend, if the internet and computers are down for good, we'll be probably dead😑

TheBitcoinManual 1y ago

Lol exactly if you're argument is we're getting solar flared back into the stone age, we've got bigger problems and you're gold isn't going to save you either, such a borked argument, and screams of desperation.

Whenever I ask a gold bug how you going to spend gold in your view of the future, they always say oh with a custodian and a card, that requires technology and 3rd party risk you knob head

Bearetta left 1y ago

I made friends who fled Ukraine. They were very limited with access to their money via card. It was so easy to tell people they won't get their money..I have no trust in this whatsoever.

TheBitcoinManual 1y ago

It's hard to understand a world where rule of law is lost when you have never experienced it, I guess thats just how it works, the most people have to feel the most pain before a lesson is learned

f0xr 1y ago

but but but muh InTriNsiC vALue...

TheBitcoinManual 1y ago

LOL look at the industrial use cases, yeah so you going to price out that use case if it is a base money, this is not a strength,

Shame they need to learn the hard way

f0xr 1y ago

Gold has a monetary premium. So does real estate currently. That doesn't make real estate better money than gold since it has a bigger non-monetary use case. The best money is all monetary premium...