Looking at economic history one can see that different societies from different parts of the world during different times has been swinging from quality money (gold, silver) to paper money. Today we have Bitcoin and other crypto currencies that one can choose from.

As an Austrian I would like to make the proposition of free money, that is let the market (in other words us) decide what we want to use. If someone want to use Bitcoin that is great, gold, silver - be my guest. If someone want to use paper why not? But don't force anyone... with that said Fiat always fail!  :

Btw Very interesting thread and great opinions.