The Trojan Horse: Bitcoin is “Just” Digital Gold
Bitcoin’s comparison as “merely” digital gold demonstrates that legacy financial bureaucrats are in for a rude awakening.
Early on Monday morning, March 22, during the
With proof-of-work mining, bitcoin is the first monetary network that perfectly respects the laws of thermodynamics, a truly monumental breakthrough for humanity. Wth an absolutely scarce monetary asset built into an incorruptible monetary protocol, humanity for the first time has a ruler for economic calculation that is pure signal, and no noise. There has never been an asset/commodity with the supply side of the supply/demand equation completely fixed. The implications are immense, and any comparison to gold are either misguided or purposefully deceitful.
To conclude, after hearing the chair of the Federal Reserve address bitcoin earlier this week, there are two distinct possibilities:
- The incumbents of the global monetary system are threatened. Bitcoin clearly disrupts their monopoly on money and credit, and renders them useless. To try and combat this, a smear campaign on bitcoin is attempted where “volatility,” “speculation” and “money laundering” are thrown around in a never-ending cycle of FUD.
- The second possibility is that they are truly asleep. The horse has entered Troy, and they have no idea what is inside the belly of the beast.
The good news for humanity is, regardless of what Powell or any other unelected bureaucrat says or thinks, bitcoin is much more than just digital gold. The powers that be are in for a rude awakening if they believe that’s how this ends.
Troy will be ransacked. The dollar will fall, and out of the ashes truth, liberty and sovereignty will prevail.