If Nicholas Barbon is still alive, he would be proud of bitcoin creation.
An English economist believes Gold and Silver don't have inherent value, only the value we give them. By using the Gold and silver system, we tie ourselves to a system that has all the disadvantages of a commodity currency without anything more tangible than what we get with paper bills.
The downside of the Gold and silver system is when the economy expands, the money supply couldn't expand fast enough to cater to the market demand.
The downside of paper bills is it is hard to know what funny business the banker are doing behind the door. Sometimes the bank overprint the paper bills that cause hyperinflation when it should be reducing it.
With blockchain, everyone (miner or staker) will need to agree to increase or decrease the money supply.
