"Gold, of course, has a long track record, but it's also easy for governments to seize, at least on the scale to run a gold-backed money. FDR did it in 1933, it'll happen again." I don't believe anyone is going to stand in line in the 2020s like they did in 1933 to turn gold in. Just not going to happen. Sort of like when Illinois banned certain rifles and the public was required to register them. An extremely small number registered. American citizens are wise to government. The days of voluntary disclosure are long over. Same reason the military draft is really dead.
"Bitcoin was created by a programmer -- Satoshi Nakamoto -- who was obsessed with gold's role as a money. So he modeled Bitcoin to work exactly like gold. "
No one really knows who created Bitcoin as Mr. Nakamoto has never been located to confirm or deny his involvement. How does Bitcoin works like gold? I can hold gold; it is physical. It has many different uses. It has been money for over 5,000 years. Notice what the central bankers are buying. Physical gold.
He studied the value of gold and the inflation of it and the strength behind a currency during good times like the renaissance in Italy that had steady value of the Florin and the economic prosperity and individual freedom that created. Then he made it easier to transfer and harder to steal and impossible to ban or confiscate and he eliminated the ability to inflate or find more of or “clip” as Rome did before the end. He made it open source so the whole world worked on its development together and he made everyone interdependent on its success and safety and he made its centralization virtually impossible. And he made it locked in time so nothing can stop it.
Essentially I think he just set the slaves free from the most evil world wide financial slave system ever
Great advice! I believe BTC will become the largest store of value. Mediums of exchange will vary around the world but the strongest might have BTC, Gold or Silver as backing. BTC will wreck any paper fiat creating a barrier for any further shady central bankers getting any evil ideas 😉
If the government wants your Bitcoin, they will take your Bitcoin. Anyone who believes government is impotent against any investment, regardless of what it is, hasn't been paying attention.
Bitcoin will never replace money. What about the loan system? Are you gonna borrow 100 bitcoins to buy a house? How will that work? It is not stable enough to replace the money system.
Since it is based on "electronics" and the availability of power, it can be turned off and erased rather easily. If bitcoin replaces money, you will be living under a rock because you will not have the means to afford anything else.
"Gold, of course, has a long track record, but it's also easy for governments to seize, at least on the scale to run a gold-backed money. FDR did it in 1933, it'll happen again." I don't believe anyone is going to stand in line in the 2020s like they did in 1933 to turn gold in. Just not going to happen. Sort of like when Illinois banned certain rifles and the public was required to register them. An extremely small number registered. American citizens are wise to government. The days of voluntary disclosure are long over. Same reason the military draft is really dead.
"Bitcoin was created by a programmer -- Satoshi Nakamoto -- who was obsessed with gold's role as a money. So he modeled Bitcoin to work exactly like gold. "
No one really knows who created Bitcoin as Mr. Nakamoto has never been located to confirm or deny his involvement. How does Bitcoin works like gold? I can hold gold; it is physical. It has many different uses. It has been money for over 5,000 years. Notice what the central bankers are buying. Physical gold.
He studied the value of gold and the inflation of it and the strength behind a currency during good times like the renaissance in Italy that had steady value of the Florin and the economic prosperity and individual freedom that created. Then he made it easier to transfer and harder to steal and impossible to ban or confiscate and he eliminated the ability to inflate or find more of or “clip” as Rome did before the end. He made it open source so the whole world worked on its development together and he made everyone interdependent on its success and safety and he made its centralization virtually impossible. And he made it locked in time so nothing can stop it.
Essentially I think he just set the slaves free from the most evil world wide financial slave system ever
🙏❤️
Great advice! I believe BTC will become the largest store of value. Mediums of exchange will vary around the world but the strongest might have BTC, Gold or Silver as backing. BTC will wreck any paper fiat creating a barrier for any further shady central bankers getting any evil ideas 😉
Bitcoin in an ETF sure seems like it can be seized.
If the government wants your Bitcoin, they will take your Bitcoin. Anyone who believes government is impotent against any investment, regardless of what it is, hasn't been paying attention.
Peter curious what your take on this is:
https://wealthsystems.ai/p/buckle-up-fiat-currency-collapse
I make a sympathetic set of arguments to yours, but from a dif angle.
Hope you have time to read!
Bitcoin will never replace money. What about the loan system? Are you gonna borrow 100 bitcoins to buy a house? How will that work? It is not stable enough to replace the money system.
Since it is based on "electronics" and the availability of power, it can be turned off and erased rather easily. If bitcoin replaces money, you will be living under a rock because you will not have the means to afford anything else.
You should research BTC