Honestly, I think in the zeal for Bitcoin we demonize the Fed monetary system more than there is evidence for. Like saying *what we have now is one of the worst we could have.* Is it really?

There are other monetary systems that have categorically failed with hyper inflation. And other monetary systems that no longer exist for us to look at because those who tried them failed already. What we see now is a biased sample of only the survivors presently. What we have, must be quantifiably better than those, so ours can’t be one of the worst.

I do think all fiat eventually collapses. But the run of the Fed historically 1919 to the present, even with the spikes of inflation and recessions. It also for the most part served its function as providing a medium of exchange. And the period before the Fed also experienced inflation and boom/bust cycles. So ending the Fed won’t stop that.

Yes the purchasing power of the dollar has declined by ~95% Over the time. Savers over that range got hosed, and all the hard money criticisms follow for how that may be manipulating the economy and people and incentives. But I think the difference between the BTC dream and the current Fed system is smaller than the difference between what we have now and what the worst could be. So I think before we end the Fed we should have something lined up to replace it. if you end the Fed before BTC is adopted as the reserve currency. Then what you will likely get is worse. Just my opinion.