goldbugs got a lot right.

but where gold fails and as a result goldbugs fail, is that it’s a reserve asset within the existing system. While they hope to pump their bags they only perpetuate the thing they say they’re trying to fix.

gold will never fix anything, because that is all gold will ever be. It can be used in small cases as MoE, but it does not have the capacity to do so sufficiently to displace the existing power structure and system of control.

bitcoin is different in this respect as it is both a reserve asset; and an entirely new system at the same time capable of being both a reserve asset and used easily globally and locally for exchange of goods. It will continue to increase as MoE and further cement itself as the new standard in an emergent and chaotic way.