From ‘Nothingness’ to 23 Ounces of Gold

Some days ago, I met an old acquaintance of mine — a banker. We chatted a bit about the past, and he asked me what I was doing now. I mentioned that I had published a book on Bitcoin. With the usual smartass grin of those who know nothing but think they do, he said to me, “So you chose the ‘void,’ the ‘nothingness,’” clearly showing that he could not even slightly grasp the idea that something digital might hold value in today’s world.

Since I knew from years of experience that trying to explain what #Bitcoin is to someone who has blinders on is a waste of time, I opted to show him the only thing he could actually understand — a few market charts. I made only one remark: “Look, this is your money dying.” I left him wondering, quite perplexed, with that astonished look one has when something unexpected hits him straight in the face. He could not speak a single word except some “mmhhh.” I’m sure he’ll have some thinking to do.

These are the same charts that show the last two decades of monetary history, which I always carry with me for the smartasses who think they know it all.

1️⃣ USD & EUR — mirror games, but fiat hides in CHF 👇

2️⃣ Gold buries fiat 👇

3️⃣ #Bitcoin buries gold — from 0 to 23 oz per BTC 👇

And finally, for getting a wider perspective the little known chart below shows the death of the German Weimar Mark vs Gold. But notice the very high volatility of gold with 70-80% sudden draw-downs in the hyperinflation phase. Now compare that with the previous one and the current volatility of bitcoin vs gold. Any similarities?

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