A frequently asked question about the enormous rescue packages for banks is this: Why should states save mismanaged private companies with taxpayer money? Satoshi’s message drew attention to this, and, more generally, to the contradictions and risks of the global financial system. With bitcoin, he created an asset independent of all that — one where we can rescue our savings from the systemic risks of the credit money system.
I was well aware that we were in the final phase of a mania and the crash was near. Still, in December 2017 I made the bet that bitcoin would outperform gold on a five-year horizon. In this article series, I describe what I based my opinion on. In Part 1, I presented the background of my bet. In Part 2, I argued that there is a need for digital gold. The previous part explored why bitcoin stands the best chance to fulfill this purpose. I will now give further arguments in support of that.