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Bitcoin Derangement Syndrome Is For Real

Greg Carson, Head of Corporate Development & Venture Capital at XBTO Group and Managing Partner at XBTO Humla Ventures, sat down with The GoldSilverBitcoin Show to discuss Bitcoin, Bitcoin Maximalism, Hyperbitcoinization, XBTO Humla Ventures, and more. Greg, who hails from Silicon Valley, has been a CEO and director at technology startups, and is currently the chairman of Dimension Stream and an advisor to Paradigm.

When Carson attends venture capital events, he notices certain individuals have a strong case of Bitcoin Derangement Syndrome (BDS). “You mention Bitcoin, and most economists I find traditional investors who made money in traditional markets, and are not innovators, immediately say it’s a scam or it’s bad and don’t give it credit.”

Those who make such comments are often followers of the Keynesian school of economics and Friedman school. Austrians view Bitcoin differently. “The challenge is there are no Austrians in government. You don’t have Austrian economists talking at these events,” says Carson as he sports buddhist beads in casual attire. 

“I go to these events where everyone is in a suit, and they always have an ex head of state economist or someone from LSE speaking, and they have a pure Keynesian or Friedmanite mentality. They are a COP26 mentality, and they’re talking about the transitory nature of the inflation. They really don’t talk about supply and demand of the currency itself or the commodity nature of the currency—currency is essentially a commodity. It’s weird to watch that. It feels like I am in a surreal vacuum backstage and watching this play happen, while economists are talking to each other and ignoring certain facts like Bitcoin.” 

Carson says that, ultimately, this will work itself out. “The great thing about history is that history defines itself in the future. In ten years we will look back and maybe we were incredibly right or maybe we were wrong and missed something, and they have something that we don’t see. But it doesn’t feel that way.”