Bitcoiners and Goldbugs agree that sound money is required to inhibit the unlimited money printing of nation states.
#Bitcoin works on the internet as a bearer instrument.
Gold would require digital IOUs guaranteed by governments.
See the problem?
Discussion
How can they be aware of the current state of the world and think gold is a viable solution? They instantly forget the entire economy has run on the internet for the past 20-30 years. Money is already digital, and once you go digital you don't go back. It's really amazing how gold has this power over people.
Government can’t guarantee anything, so that can’t be correct. The difference is that digital gold transactions cannot be trustless.
They can "guarantee" the IOUs, just like they did on the previous gold backed notes.
Right, but you don’t need a state to pretend to guarantee something. There could be a stateless gold standard. However, there would still have to be trusted guarantors of the physical gold.
Sure, but the masses have been conditioned to believe that the state is the ultimate authority, so it's most likely to turn out that way.
Hey Peter Schiff, good luck calling the government you don’t trust to enforce laws on the banks you don’t trust after they rug you.
It is amazing to me that Peter Schiff, the moral sellout, is going to rug his fans by launching a cryptocurrency "backed" by physical gold.
It's 2025 and boomers are still willing to trade their life savings, their time and wealth, for IOUs printed out of thin air.
Couldn't be me.