No. Silver is the currency in this example. In hyperinflation the relative value of the currency will fall drastically. That is what happened with sliver in 1980. As to why Pirate is a bear, my conclusion here is based mostly on Pirate's own threads and comments and some of the comments from his supporters. I then compare this with the market data and have reached my conclusions from the relationship between the pro Pirate comments and the market data.
Hyperinflation was
averted for the currency (USD) in the period you're referring to. The Hunt brothers were
forced to liquidate their holdings, so there was an excess of supply over a short time. It was also a known quantity, not unrestricted production at an exponential pace. Finally, I posed the hypothetical because silver was
not an official currency in 1980. Without monetary demand, there wasn't enough industrial or investment demand for the quantity available.
I'm not sure how you've determined Bitcoin market data is bearish. There's been every effort at maintaining
stability, especially in light of the $9+ spike a few weeks ago which was cut down before it became a bubble. Followed by a stable basing range and resumed gradual ascent offering no easy entry points, it looks exactly the opposite of a bear.
What posts led you to believe Pirate is bearish? Everything I've seen indicated that he thinks Bitcoin has great potential, with some risks that
could cause it to fail. Why would anyone hold or invest in bitcoins if they expected them to decline, let alone accumulate large quantities and build several services based on the system? I could see the case for a pump & dump, but where's the pump - are we witnessing a slow, multi-year pump that'll dump when everyone is using Bitcoin?
