There are two different groups that really couldn’t be farther apart on what money should be, but together have a common nemesis: silver stackers and crypto investors.
Both crypto investors and silver stackers have their own definition of what money should be. and why their asset is superior. Crypto tout the de-centralized model their payments run on and the fact it cannot be controlled by one person. They also like to point out that all transactions are recorded on the blockchain so it’s a transparent tool. And for many this sounds terrific and even too good to be true. Stackers though tend to think differently. They point out that crypto doesn’t have any intrinsic value, many economists like Peter Schiff even thinks it’s a pyramid scheme. On the flipside, crypto people tend to believe gold and silver is antiquated and it’s not reasonable to believe that they can be carried around and used in transactions every day.
But both crypto believers and precious metals supporters both believe certain things and share similar beliefs on several topics. The first is there tends to be a lot of people in both communities that approach economics from an alternative point of view. Many tend to question the stats (Why the CPI Needs to go) provided by the gov’t and the constant rosy economic picture being painted. Furthermore, both criticize the dollar and FIAT money and realize that fiat money is being devalued constantly (Why Hyperinflation Could Come).
Both communities point out that their asset has a limited supply and cannot be increased easily if at all. Crypto is fixed in many cases like Bitcoin only has 21 million coins and no more will ever be created. Both Silver and gold , resources would be required to produce more which would lead to a price increase.
Both camps are also adamantly against CBDCs (Read about CBDC Disadvantages here) , ESG scores, more centralization and a bigger fed govt. Most of the reasons the groups are against these programs are aligned as well.
If you stack silver or gold, do you buy crypto too?
Why or why not?
