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Bitcoin Mythology: Red-herrings and BS

by Gareth, Dont-Tread-On.me :

In this DTOM article I intend to examine the nature and purpose of bitcoin with reference to monetary metals, government fiat, binary codes, intrinsic value and PONZI schemes.

My conclusions will be drawn from a biased perspective – mine.  All opinions/views are biased and I hope you have learnt to describe yours as I believe the writing here describes mine.  Let’s commence with an examination of the monetary metal. 

Gold, Silver, Copper

If you believe it was through accident, fate, or manipulation that the market places throughout the world and throughout known history have preferred physical monetary metal in the form of gold, silver, and copper then you are quite delusional.

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5 comments to Bitcoin Mythology: Red-herrings and BS

  • Paula Tuttle

    Great job! My husband & I have been stacking for several years, and because Max Keiser has been pushing BitCoin, and I trust Max, I downloaded the Bitcoin software yesterday and was starting to look into it, but with a VERY skeptical perspective! Every word you said was just validation of what my ‘gut’ was telling me, so after reading your article, I ‘uninstalled’ the BitCoin software, and will keep on stacking!! (Just bought another bunch of Silver Eagles!) Thanks again!

  • 8Ball

    Yes, that audio clip with Molyneaux raving about the wonders of BC shows that he doesn’t really know much about it. There is nothing anonymous about its nature at all…

  • WALDO

    Perfectly excellent assessment on the true value of gold, silver & copper vs the digital bitcoin scam. My only problem is that we are living in the twilight zone & governments will by decree only permit digital money in the new technocratic age.

    It is my belief that they will impose draconian laws on the use of a competing monies such as precious metals. Some trading may go on in a black market but not openly.

    That being said, if we win this war against tyranny then yes G/S will prevail. In the meantime keep stacking!

  • Gareth

    Hey, y’all.

    Glad you liked my article.

    Discuss it with those you know.

    Peace.

    Gareth

  • Robert Johnsson

    -my opinion, posted earlier on sgt:

    -BitCoin, is only DATA, not REAL.
    and -oops, No Power and thy shite is gone.
    BitCoin is what the Banksters wants for all off us, They control it, and will shut of the supply or kill it at any time they want.

    Come on….How could thee be so dumb to fall for this scam?

    Cash-Free-Society is their dream.

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