Pragmatic Capitalism

Capital for Living a More Practical Life

Does the younger generation think bitcoin is the new gold?

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That is the perspective of this guy…that younger people weren’t raised on the “gold is place to run in a crisis” line of thinking. So when governments start to seem unstable to them, they run to a currency that is independent of government. Thoughts? I’m not saying it’s the correct response, just wondering about a generational break in perception.

6 minutes, 23 seconds:

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Posted by scowei (Questions: 11, Responses: 7)
Posted on 08/20/2017 3:54 PM
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Interesting question. I really don’t know the answer. Young people are certainly more interested in Bitcoin than gold so there’s some validity here. The thing about Bitcoin is that there really is nothing to back it up. It’s a pure faith play until it becomes a really useful medium of exchange which it isn’t at present. So I don’t see how it solves the problems that people are worried about with fiat currencies.

Personally, I never understand why these anti-government types don’t loves stocks. Stocks are the way capitalists obtain access to the production of the real economy. And in a hyperinflation it is stocks that crush everything else because corporations pass on their extra costs. It’s the ultimate capitalist free market play. So who needs bitcoin to protect you from fiat currency when you can just buy stocks and take a pure anti-government anti-fiat position there!?!?!

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Cullen Roche Posted by Cullen Roche (Questions: 10, Responses: 1749)
Answered on 08/23/2017 1:42 AM
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