No fiat currency endures in the long run – it's a mathematical reality.

Ludwig von Mises asserted, 'But the certain fact about inflation is that, sooner or later, it must come to an end. It is a policy that cannot last.'

Consider delving into 'The Changing World Order' by Ray Dalio, where he scrutinizes the last 500 years of major currencies. We find ourselves stuck in a cycle: fiat currencies fail, and we revert to hard money, historically gold.

Yet, claims on gold represent a technological innovation, enhancing trade efficiency but introducing trust – a trust repeatedly exploited throughout history, leading us back to fiat money.

Fiat money results in resource misallocation, widening wealth gaps, and consequential social problems. Populism emerges, challenging capitalism.

Claims on bitcoin signify a technological regression. Arguments favoring claims on hard money that led us to fiat become invalid if bitcoin becomes the next 'Type 1' money (see pic) in the cycle.

Your perspective seems to suggest this time differs from the last 500 years. Only time will tell.