Competition is a positive for society and an economies overall if it favours efficiency.  Even the losers in that competition benefit so long as they stay as part of an overall successful economy.  Crypto itself needs to always allow for this success to come forward in order that the wrong path is not taken and allowing FIAT to take over the digital economy, ultimately that will serve political interests and their never ending debt and we all lose.


What about proof of stake, this is not elitist outside of centring on accumulation of value.  To actually process transactions just requires a reliable connection to be online, not half the bar that proof of work has become.  I see that as far more decentralised then anything requiring more industrial competition and innovation.


Gold is not a redundant standard, its value is ongoing and well established is the correct view to measure it by. Its inert and not in active development, it doesnt represent growth especially unless by reference to industrial mining improvements.   Everyone should have at least 1% gold of any spare capital is my view, if all your money is used then thats fine also but it is a secure asset that does not rely on confirmation by a central body and so its part of capitalism pretty much forever