The currency is never the only asset or unit of trade in an economy. As long as value and wealth were being created somewhere, inflation can exist.

Gold is interesting because more of it was being mined and produced all the time. There wasn’t even a finite amount of gold.

Thinking that a gold standard means no inflation (or in practical terms, deflation as the population grows) is a modern fantasy.

In addition to the security issues, they would have to deal with non-negligible transaction costs every time they wanted to convert it to actual money so that they could purchase something. If they were using it as an investment, they had to deal with the opportunity cost of underperforming $SPY.

Still, they have to worry about them and their family not being kidnapped.

Oh but hey, checkmate, burglar who is threatening to cut my daughter’s finger, my wallet is multisig !

Cryptocurrency recapitulates the history of the modern banking system, and illustrates the necessity of regulation on a daily basis.

Yep, the meme in crypto community is that you can have all the digital security possible but it'll lose to the $5 wrench attack.

This isn’t just a problem in the Netherlands or a thing of the past. 2025 actually saw the highest number of attacks ever recorded [0].

There are ways to prevent this. Like using multi-sig with geographical separation (so you can't move funds alone) or setting up forced time-delays. Ultimately, being your own bank is a massive responsibility, and I think too many people take that reality too lightly.

0: https://stats.glok.me/

xkcd 538, that is