Quote from: markj113 on August 20, 2018, 08:34:58 PM

Quote from: Evan_Doyle on August 20, 2018, 08:24:25 PM

I'm not so sure that's what would get their attention. Certainly, you have a valid point and I'm not going to say that it's wrong. But goldbugs see things a bit differently than just market cap and price per ounce.

They're stuck in the doom loop of fiat crashing, futures being erased, and the world reverting to a barter system. This sounds all fine and dandy but what really would cause something like this to happen? There's too much institutional money in fiat for it to just dump and destroy itself. They would never let it happen. They've got too many tricks up their sleeves.

And besides, if it were the apocalypse and you had a farm full of goats, would you really want to trade them for gold?

Where you have bitcoin users believe that bitcoin will become the next reserve currency, replace banks, crash the financial system and replace fiat.

You also have the HODLers that also like to think you buy a bitcoin, sit on it for a few months and wake up one morning a millionaire also buying bitcoin qualifies you as an investment and financial guru instantly giving you qualifications to advise all newbies to sell the house, car, boat and family and go all in no matter what the price.

Yeah sure, and I'm not going to defend that way of thinking either because we both know it's completely unrealistic. But you completely avoided my position by pointing the blame on the other side. If you had a farm full of goats, would you really think to trade them for some pieces of gold?

Quote from: markj113 on August 21, 2018, 07:37:18 PM

Quote from: Traxo on August 21, 2018, 07:17:42 PM

Russia is destroying themselves. Atavistic fools who still think land and gold still have value.

Russia debt to GDP : 12.6%
US debt to GDP : 105.4%

US just below Butan So who is destroying themselves?
https://tradingeconomics.com/country-list/government-debt-to-gdp

This here is a very good point. Russia is actually quite sustainable because of their land and gold. USA, on the other hand, is entirely dependent on other nations buying its debt. What if they don't want to? Or if they can't? Innovations like crypto can't save them from a crisis, but they can be a way out after hitting the bottom.