Gammon has the 5000 years of human history to fall back on, and Booth has the invention of the internet and non-inflationary money to fall back on.
Itβs unfortunate, but Gammon is right, until he isnβt. I agree with Booth that bitcoin is our only chance of essentially creating a brand new paradigm centered around bitcoin.
Whether we choose that is up to us, but I think the incentive to move to less or eventually no credit system is there for the betterment of humanity.
Maybe the same shenanigans and imbalances can take place, but they can't last for decades. France showing up with a ship to claim gold after years of paper claims for gold building up won't be necessary. If France traded dollars for bitcoin, do a transaction. The US (or other) can't lie about how much they have and can't pretend like it's too difficult to transport or custody. Debasement will be sniffed out and rectified much more quickly.
Correct, itβs just honest money
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Jeff Snider had a similar point when he debated Lyn Alden. He said people will always want credit and a black market of an alternative money would be created if there was a bitcoin standard.
Maybe they're banking on human nature repeating itself?
True that It's tough to change a mindset to view things differently - like the view from above in certain philosophies or therapies, but we can hope.com π§‘π«π
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