a picture showing a gold bitcoin coin sitting on the top of fine gold bars

Gold Bugs Vs Bitcoiners

1 minute read
Oct 12, 2020

While there’s a constant war of ideas fought by gold advocates and bitcoiners, there’re some fundamental similarities that bring the two groups closer to each other.

Gold bugs and bitcoiners have much more in common than they like to think.

For example, they both agree on the main problem faced by the economy:

Market and currency manipulation lead to inequality, which ultimately leads to social and economic disintegration.

And they even agree on a solution: Sound money.

Sound money is money that is not prone to depreciation in purchasing power over the long term and based on self-correcting mechanisms inherent in a free-market system.

What they disagree on, however, is how to apply the sound money principle:

  • Gold bugs believe in gold as an analog application.
  • Bitcoiners believe in bitcoin as a digital application.

Nobody knows yet which one would work best, but here is something to keep in mind:

Physical gold has been proving its value as a store of wealth for more than 5000 years... whereas Bitcoin was launched only 11 years ago.