Counter arguments : Bitcoin

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Counter arguments : Bitcoin


Couple of days ago, someone posted a request for sources of counter arguments against bitcoin to self check that they aren’t in an echo chamber. Very prudent imho.

I’ve been in bitcoin since 2014 so, fairly well convinced already and probably part of the echo chamber, but I’d be interested in peoples opinions on this podcast episode (for context last week he had max Keiser on). https://podtail.com/en/podcast/the-david-mcwilliams-podcast/182-why-now-is-the-time-to-go-for-a-wage-rise/

Just the first 18 mins or so. Trigger warning, he is a proponent of mmt and does drop the f word in description of crypto enthusiasts, so if you are easily triggered skip it

His main arguments against bitcoin and for fiat are

  1. The renaissance problems when the Black Plague hit prevented political solutions as they were tied to the gold standard.

  2. The Great Depression only ended because Roosevelt abandoned the gold standard in the 1930s.

  3. German rise of nazism was caused by the financial difficulties and civil unrest of the time.

  4. If we did not have fiscal flexibility and the ability to print money there would have been riots during the pandemic.

Hope posting this is not against the rules, would really be interested in your opinions and rebuttals. (Edited to add punctuation and typos)



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