I have always liked Gold and Silver and tangible secure assets that have a long historical track record. I am not alone in this. A great majority of the elite have often hoarded and also controlled Gold and Silver whether hard Tangible Money or paper manipulations of it. Personally I believe it is wise to have 1/3 or more of ones net worth in "Tangibles."
With the evolutions of economic theory and Governmental controls and global exchanges; fiat moneys have become the norm. Rarely now directly supported by real money but supported by an economies abilities to pay.
This itself is shocking since the economy itself rests on the backs of people. Hence the fiat money is supported by the volume of debt that the people might be able to carry and pay. I have always seen this as a slavery of sorts. Indenturedness perhaps describes it better. Regardless it is the norm of this tiny recent swath of societal and global evolution. (What a Grand Experiment.)
As with all forms of social engineering the roots can be hidden for a great while but eventually the fruit comes to bear. So here we are at the nexus of Keynesian machination; and it does look like it has been working. www.usdebtclock.org/
I don't believe it can forever; but then that is just a value system I have that detests debt, slavery, waste, corruption and out of control Big Government. Plus the fact that Fiat Moneys have a 100% failure rate thus far.
Is it possible that Bitcoin will be different? What does it do or can it do that might transcend Gold, Fiat Dollars / Currency ?
People fail to see just how the internet has completely changed the planet. Commerce and communications have reached an evolutionary peak at the same time as the overeaching Keynesian machinations of unending money printing and growth dynamics.
We are in a very different global economy; one in technological and financial evolution. Foreword looking eyes must see that commerce will weave directly into the cloud and technology in some manner.
Money Velocity is the rate in which money is exchanged between parties in an economy or monetary system.
The concept of the Velocity of Money is itself evolving into micro and macro ecosystems. The OldBS (Old Banking System) has money velocity economies of scale within each country, exchange and market.
The problems with the OldBS evaluation of the "Velocity of Money" is that it doesn't account for "Potential Velocity" and "Economy D;" quantifying it in a simple equation; failing to account for the individual assessment of money value and the fact that it is a hidden exchange instrument.
The old concept considered cycles in a time frame as measured velocity. The new system of monetary velocity in the cryptocurrencies world will be one of RPM "Revolutions per Minute" or time cycle. These RPM monetized cycles can be either looped within micro closed monetary systems in the cloud and gatewayed to the macro monetized cloud with all kinds of various transaction throughput.
So here we have the Undiscovered Territories of today. The cloud will have multidimensional territorial realestate valuations of function capacity and speed. Will those new expanses allow for greater Keynesian machinations to continue much farther than was thought possible? Perhaps ... because those operational commerce metrons within the cloud can be considered as entities themselves much like people with numbers attached to them are considered blocks of value OR asset to carry debt against.
This brings us to Bitcoin and cryptocurrencies. While most every cryptocoin has a built in limit of coins that can be mined; there are no limits to the numbers of different coins hat can be made in the industry. (e.g. - Bitcoin is limited to 21m coins ... but there are a host of other coins coming into the market that do different things, from litecoin, darkcoin, blackcoin etc etc etc ad infinatum.)
So you see Keynsian machinations in the right transitionary venue can continue to work in a decentralized cryptomarketplace. Keynesian Cloud would have people, every economy, economy D, Plus the cloud and each metron within the cloud to drastically increase the expanse of Keynesian machinations.
The real issue here however is the likelihood of economic power transfer to Europe that is underway. They have done a superior job of forging infrastructure during and after the global banking fiasco than the USA has.
If Crypto indeed is the new frontier; they may well be the beneficiaries in a superior way compared to the rest of the world.