Fiat under the gold standard was only redeemable in calm times. WWI, Great Depression, Vietnam/Nixon — all suspended redemption. If governments could flip the switch then, they’ll flip it again now. Bitcoin fixes this
Makes me question my strategy with Bitcoin etfs.
#bitcoin #coldstorage #stacksats
Replies (2)
That is what is mentioned with 'no counterpart risk' or being a final settlement.
"Not your Keys, Not your Coins"
One of the key properties of sound money.
Al least now you understand.
Whatever you decide you know the risks.
Compared to those who don't have a clue, that is a huge advantage !
Couldn’t agree more. Part of my strategy was to purchase btc ETFs to offset my taxes with tax deferred accounts, but I would still be at the mercy of government money. Finding examples in history where redeeming gold for fiat was no longer possible from one day to the next is an eye opener
