Thank you for this well written article. I enjoy reading different perspectives on this topic. I would like to offer up some common retorts to these arguments in hopes to spark a good conversation.

The Austrian response to the quote below would be that loose policy causes the bubbles in the first place. Centralized control is both the cause and solution to the same problem. I’m curious if there is a good response to this viewpoint.

“ Doing so would significantly reduce their ability to adjust the money supply in response to financial crises. It was precisely this constraint under the gold standard that prolonged the Great Depression in the 1930s and caused repeated panics and depressions throughout the 1800s and early 1900s. “

In response to the Alchemists problem: yes there have been many bitcoin copycats. However among pure money cryptos (exclude smart contracts, NFTs ect) none have ever taken any meaningful market cap from bitcoin. This leaves bitcoin as a solid store of value.

Why would central banks ever give up control? They would not willingly. It would need to be forced upon them through a lack of faith in government currencies. A common statistic used by crypto proponents is that amongst countries who reach 130% of debt to GDP only one has not defaulted on their currencies. That example being Japan. We are now at a point where most developed economies are beyond that threshold. This mismanagement of centrally planned currencies is why bitcoin was created.

Thank you for considering these questions.