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Do Bitcoiners ‘hate’ gold?!

GM Bitcoiners,

There’s an impression that Bitcoiners don’t like gold.

And sure, there’s a lot of back and forth between Peter Schiff and Bitcoiners…

But outside of Twitter, this ain’t an emotional thing. 

To understand Bitcoin, you have to understand money.

To understand money and its evolution over time, you have to understand gold. 

To understand why Bitcoin is succeeding, you must understand where gold failed. 

How has gold failed? 

As Dylan discusses below, it’s not about gold failing as a store of value, but as a medium of exchange. 

Gold is doomed to repeat the same centralisation cycle due to its limitations in moving value across space in a world built on the internet. 

This isn’t about being emotional. 

It’s about being realistic. 

This doesn’t mean gold hasn’t done a great job holding value over time. 

This doesn’t take away the fact that gold has a far deeper history than Bitcoin. 

It does point to Bitcoin being the future of money.

Written by Henry

Content Manager at FastBitcoins. Came to Bitcoin for the sound money... stayed for the memes! When not on Bitcoin Twitter, Henry can be found dancing Argentine Tango or in the gym.

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