Bitcoin, Gold Bugs and the Second Amendment
Sound money and protection of property rights form a common ground
Bitcoiners are a diverse group of individuals who share a belief in the decentralized nature of Bitcoin and its potential to disrupt traditional financial systems. While not all Bitcoiners share the same political views, many are supportive of the second amendment in the United States, which protects the right of individuals to keep and bear arms:
"A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed."
One of the key reasons why Bitcoiners may be supportive of the second amendment is that they see it as a means of protecting themselves against government overreach. The creation of Bitcoin was, in part, a response to the global financial crisis of 2008, which many believe was caused by the excesses of centralized financial systems. Bitcoin's decentralized nature means that it is not controlled by any government or financial institution, making it a popular choice for individuals who are concerned about government surveillance and censorship.
Furthermore, many Bitcoiners see the second amendment as a safeguard against tyranny and an important check on the power of the state. They believe that an armed populace is necessary to prevent the government from becoming too powerful and infringing on individual rights. In their view, the right to bear arms is essential for ensuring the protection of individual liberty and the preservation of a free society.
As I wrote last week, Bitcoiners, Libertarians and Austrian Economists all share similar views on limiting the power of the state:
Aside from concerns about government overreach, Bitcoiners may also support the second amendment for more practical reasons. Bitcoin is often used for international transactions and is not subject to the same fees and regulations as traditional banking systems. As such, it may be particularly appealing to individuals who want to maintain their financial independence and avoid government scrutiny. Likewise, supporters of the second amendment may see gun ownership as a means of protecting themselves and their property against potential threats, whether from criminals or from a government that they perceive as hostile.
What About Gold Bugs?
On the other hand, gold bugs, who are individuals who have a strong preference for gold as a store of value, also favor second amendment rights. Like Bitcoiners, they often view gold as a hedge against government intervention and inflation. Gold has historically been used as a form of currency, and its value is not subject to the same fluctuations as fiat currency. Gold bugs see the second amendment as a means of protecting their physical assets, including their gold, from confiscation by the government.
Both Bitcoiners and gold bugs share a skepticism of centralized institutions and a preference for decentralized systems. They both see the potential for government overreach and are committed to protecting their individual rights and freedoms. Their shared support for second amendment rights reflects a belief in the importance of individual autonomy and the ability to protect oneself and one's property from harm. In essence, Bitcoiners and gold bugs are united in their opposition to government interference and their belief in the importance of personal liberty.
Not financial or legal advice, for entertainment only, do your own homework. I hope you find this post useful as you chart your personal financial course and Build a Bitcoin Fortress in 2023. To see all my books on investing and leadership, click here. Â
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