Bitcoin v Gold

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Gold is a bearer asset. If you physically possesses it, you own it.
Bitcoin is a knower asset. If you know the seed phrase, you own it.
 — Samson Mow

Gold is so bad at storing value that we need to buy a house to store it in instead. Wait until people understand what Bitcoin is.
— Bitcoin for Freedom

Sure, gold looks good in comparison to the Dollar. But the Dollar is a poor measuring stick.


Don't Bet Against Human Ingenuity


Gold’s supply is elastic. As price rises, so does supply. A bet on gold is a bet against human ingenuity. (2-minute video)



Why gold failed


If gold really works, why are their 160 different currencies? It can't travel at the speed of information. (1-minute video)





Intrinsic Value: There Is None

Objective Value v Subjective Value


Money does not exist without humans. Neither gold nor bitcoin are money without an agreement between humans. The difference: Bitcoin was engineered specifically for that purpose.




Halflife of Gold


Gold Invites Violence

At Bretton Woods, the United States seized the world's gold and then took it hostage, and then Nixon killed all the hostages in 1971." (2-minute video)


Gold-based economy requires central government



Gold-based economy requires government centralization (1-minute video)



"Gold failed as a capital network 400 years ago..." - Michael Saylor (2-minute video)





It is possible for gold to be currency only when it moves at the speed of information. When information was only as fast as a horse or a car, gold could maintain pace. Those clinging to the possibility of gold or silver having economic value for everyday trade deny the fact that information now travels at the speed of light (or at least electricity). Gold is generations out of date.



















World Reserve Currency: US (Bitcoin) v China (gold)


Supply Must Be Considered



When Bitcoiners make fun of goldbugs






Trace Mayer vs Peter Schiff: Sound Money Debate


Additional Considerations Around Gold

  • Germany's economy flourished when it was freed of the Rothschild-controlled gold standard
  • Henry Ford wanted to create an energy-based currency as an alternative to the Rothschild-controlled gold standard which promoted war
  • The Road to Roota Theory maintains that gold is actually abundant on the Earth and simply controlled the way DeBeers controls diamonds to create false demand?
  • In his 1996 documentary "The Money Masters," Bill Still explained how insiders control the gold market which makes one wonder if returning to a gold standard really returns Americans to a free market currency.
    • Considering one of the messages in "the Money Masters" documentary was that nations with gold standards are controlled by the moneychangers who own the gold, is there reason to be suspicious when new a gold standard is being promoted at a time when American is primed to replace the Federal Reserve with something new?
      • Tucker Carlson interviews Roger Ver, creating confusion in people's minds around bitcoin.
      • Tucker Carlson interviews Luke Gromen promoting a new gold standard.
        • At the 3-minute point, Gromen admits that the uselessness of gold in real life is one of the properties that makes gold such an effective money/accounting tool. This is a point the bitcoiners make to goldbugs—the best money (accounting of value) serves no other purpose except money because that is it's most valuable service.
        • At the 12-minute point, Tucker and Gromen discuss the obfuscation and secrecy around national gold ownership and distribution. A gold standard continues the requirement of "trust in authority" around verification of everything the public is told about gold. The 1996 documentary "The Money Masters is almost entirely about a cabal of bankers manipulating countries that go on gold standards. Compare to bitcoin which can be verified in real time by anyone one of the hundreds of thousands nodes. A bitcoin node can be setup by anyone with with enough interest in doing so.
        • At 31:40, Gromen explains how gold is simply a compressed and portable form of energy. (Not as compressed and portable as bitcoin.)
The Bitcoin Standard: The Decentralized Alternative to Central Banking
Buy on Amazon
Audiobook

Most of us have an inherent understanding that a gold standard would be better than the endlessly printed fiat we have today. Many bitcoiners were “gold bugs” before bitcoin. Their core ethic hasn’t changed. In a world of instant communication and wire transfers between countries, bitcoin converts the cost of energy generation into the ideal commodity that has both intrinsic value and ultimate transportability.

Listen to this interview to learn more about the book.

Broken Money: Why Our Financial System is Failing Us and How We Can Make it Better
Buy on Amazon
Audiobook

Broken Money explains why the gold standard HAD to be abandoned in a world where speed was more precious than universal value. Then it shows how bitcoin is able to merge the best of both worlds with technology that is far superior than the buggy system electronic system that has been cobbled together by banks since the 1950s.

Learn about Lyn’s engineering background and get a better idea of the insightfulness of this book by listening to this interview.





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