Warning….rant alert 🚨
I love American Hodl. He is as articulate as he is hilarious.
However, for all his enthusiasm, he lacks a core understanding of soft vs hard money and how we got here.
It is completely non-sensical to think that BTC (the new and emergent HARDEST global money) will demonetise Gold (the incumbent and still SECOND hardest global money) BEFORE it demonetises the 100s of Trillions of infinitely SOFTER money in the form of fiat government debt (and all affiliate fiat obligations)
Far more likely IMO is that BOTH gold and BTC appreciate dramatically in this cycle (2025-6) against the weaker fiat instruments (as is already happening) yet, BTC outperforms in percentage terms.
Then, in the late 2020 and early 2030 cycles, if BTC remains decentralised and secure, BTC will indeed finish off the job of largely demonetising gold.
Ironically, many Bitcoin maxis don’t realise how embedded their own fiat bias is into their world view. Like that clip above. Ironic 🍊😉
PS
Look to Exeter’s Pyramid for further elucidation on this point.
cmad / Chris
npub1yc…nx4rf
2024-03-19 18:05:17
in reply to nevent1q…se7v
Author Public Key
npub1ycxn4qst07x7yr6fwfe9nxd347ytpnz42n9r37tgrjxk2lsy8nps0nx4rfPublished at
2024-03-19 18:05:17Event JSON
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