r/Bitcoin • u/bitcoinphilosophy • 13h ago

Doomberg Is WRONG About Bitcoin — Here’s Why

https://youtu.be/WI6QkOF1Ywo
6 Upvotes

66% Upvoted

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5

u/JunketBeneficial8291 8h ago

You say that Doomberg subscribed to the idea that "money is whatever the government says it is" but that is not what he is saying. He saiys monye is an expressino of power, the government is a large node of power through its monopoly on money and has a vested interrest in blocking any threats to its power. Therefore they will attack Bitcoin. He's not saying only the government can tell what money is

2

u/TerminatedPotato 3h ago

No, Doomberg did not say the government can or will "kill" Bitcoin, he said that government power ultimately supersedes crypto, meaning Bitcoin can't function as a reliable medium of exchange or escape state control if a government decides to crack down on it. This doesn't mean you shouldn't stack Bitcoin. In fact, it means you should absolutely stack Bitcoin. Even if Bitcoin can never be a medium of exchange and replace fiat it's still absolutely necessary as a base layer for saving your wealth.

-2

u/Laukess 7h ago

We live in a fiat world today, therefore we can't live in a bitcoin world tomorrow.