I agree with a lot of what he says.

Couple of things though.

The thing with gold was it meant money was pegged to it. It meant we saw natural inflation and took away the banks ability to simply print money whenever they 'need' arose.

Nothing wrong with coming off the gold standard as such, but what we moved to was open to abuse and has been abused.

I do totally disagree with Bitcoin being a Ponzi scheme, but too many who come from a finance background see it more like a stock/share/fx that they can gamble with, the price goes up they all cheer, it goes down and they Boo.
For many it is an object to make money with and hence the majority of people will see it like that.

Most who really want Bitcoin to work don't want the big ups and downs, they are not in it for making money, they are in it for putting the control of money in the hands of the people.

But it took me around 2 years or so of listening to those people to understand that. I do however, think every other cyrpto out there is a Ponzi scheme conning people off the back of Bitcoin, and I do think Bitcoin will be crushed and never have a chance to truly succeed.

Not sure I quite agree on the energy consumption thing either. But that is a whole new conversation and one that has extremely good arguments on both sides.

I do also agree that it is more cock up than anything else, the problem is many governments and elites (I hate that word) have seen the benefit of that cock up and are now desperately trying to make sure they control the money going forward.

I 100% agree that governments and central banks will navigate through this too, my concern though is whether it will benefit them or us? laugh

No Darling, I've had it months!