The reason the Gold bug's dream is never realized, despite the fact that all of the monetary abuses they predicted came true, is simply because gold is not directly used in day to day transactions. If something is not used in day to day transactions, it is not viewed as money.
CBs have gotten away with their abuses simply because they outlawed real money alternatives to fiat for long enough that the public lost memory of the very existence of alternatives to CB money. Everyone sees the dollar/euro/pound/yen as money because they use them every day, so no one runs away from these mechanisms no matter how they are abused. What would they run to?
The only way to make something else be
viewed as money, is if it is
used as money in day to day transactions. Using something and knowing others will accept it a basic requirement here. Gold lost that usage which is why it has not come back.
This is what is so frustrating about those blocking the blocksize increase. If people can't use bitcoin directly, the entire project is doomed to a fate worse than gold.
right, i'm trying to point out to him that Bitcoin has a much higher bar to leap to become digital gold. that's b/c it can't be coddled, displayed, shown off, polished, etc. Think back to that time when you first sent BTC to yourself, most likely. the amazement when it appeared on the other device and then counting down confirmations. now imagine the little African kid getting an unconfirmed tx that gets stuck from filled blocks. he will drop Bitcoin right then and there and go back to going down holes for hunks of gold. we should want all those kids and the entire mining industry to drop what their doing and convert to digital gold right now. only then will Bitcoin be secure and decentralized.
who will resist gvt censorships more? gmax or the little African? gmax would rollover in an instant, i guarantee you that. he would have to as CEO of Blockstream. not only that, he doesn't have the strength of conviction to resist. hell, i don't, living here in the US.