The Code of Liberty: Why Bitcoin is the Only True Constitutional Money

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This article argues that Bitcoin is the superior constitutional money compared to gold, as it better fulfills the Founders' vision of a monetary system that restrains government power. The author explains how the physical limitations of gold led to its centralization and eventual capture by the state, while Bitcoin's mathematical properties of absolute scarcity, decentralized verification, and unseizability make it the true realization of the Constitution's monetary principles.

Why it matters

This article is significant because it challenges the common narrative that gold is the only money aligned with the U.S. Constitution, and makes a compelling case that Bitcoin is a technological upgrade that better embodies the Founders' intent to limit government control over the money supply. As the national debt and monetary expansion continue to spiral, this perspective on Bitcoin as the final answer to tyranny is an important contribution to the ongoing debate over sound money and constitutional principles.

The details

The author argues that the Founders mandated gold in the Constitution not because they worshipped the element, but because it was the only available technology at the time capable of restraining the state's ability to debase the currency. However, gold's physical properties led to its centralization, which allowed governments to eventually confiscate it. In contrast, Bitcoin's mathematical properties of absolute scarcity, decentralized verification, and unseizability make it a superior realization of the Founders' vision for hard money outside of government control. The author contends that just as the First Amendment protects free speech across evolving communication technologies, the Constitution's monetary principles should be interpreted to encompass Bitcoin as a technological upgrade over gold.

• In 1787, when the Constitution was written, electricity was a parlor trick and the fastest communication was a courier on a galloping horse.
• In 1933, President Franklin D. Roosevelt issued Executive Order 6102, criminalizing the possession of monetary gold by American citizens.
• In 1971, the Nixon Shock occurred, where the U.S. government closed the gold window and abandoned the gold standard.

What they’re saying

What’s next

As the national debt and monetary expansion continue to spiral, the debate over sound money and constitutional principles will likely intensify. This article's perspective on Bitcoin as the final answer to tyranny will likely be an important contribution to that ongoing discussion.