Post
Topic
Board Speculation
Re: When do goldbugs give up?
by
markj113
on 20/08/2018, 20:34:58 UTC
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.