We have been repeating this cycle for centuries.

#Bitcoin  will stop this!

Claims on #gold is a technological innovation. It increases trade efficiency and reduces costs, but introduces trust. This trust has been abused every single time in history which leads to fiat money!

Fiat money leads to miss allocation of resources and an ever increasing wealth gap with all the implied social problems. Populism arises and capitalism gets challenged.

Claims on #bitcoin  is a technological regression. The arguments for claims on hard money (efficiency & cost reduction) are invalid, if #bitcoin  is used as the next "Type 1" money.