That's what I've been saying for some time in discussions. Bitcoiners like over-explain Bitcoin's function. Simple: Bitcoin is money; its the backing. All the rest is currency. And currencies can be backed by Bitcoin -- just like you pointed out. Just like Gold, Bitcoin's known inflation rate keeps capitalism in check.
In a Bitcoin standard if a bank gives out "bitcoin claims" more than what Bitcoin they hold in reserve, this can be seen because Bitcoin is a public ledger
People are too "idiotized" to realize this. Unless they understand the function of money, they won't get to this enlightenment. I go even further and say that most people are completely sold to the State "taking care" of their money. I'm afraid we're on the path to more and more control, my friend.
Yeah, governments have been able to incrementally increase their control over money since taking control of the gold to eventually monopolize money. And then when the centrally planned monetary system doesn't work, they blame it on whatever makes a good scapegoat at the moment to justify even more centrally planned control measures in whatever. Covid lockdowns were a good showcase, and some people even begged for it. This trend might continue for a while, but there's hope though, because bitcoin can't be stopped. A lot of damage has been done, unfortunately, and will be done before people start to understand these things.
What's mindblowing, is that centrally controlled monetary system is Marxist ideology working in plain sight: a centralized entity knows better than the people know themselves how to organize and economize their lives, thus they arbitrarily manipulate incentives. End result: everything goes to shit – energy markets get manipulated, food markets get manipulated etc. The implications are crazy wide. Understanding money properly really does feel like opening the matrix.
It's mind-blowing! I remember the first time I watched "Hidden Secrets of Money" by Mike Malony. I just think the most influential Bitcoin fellas focus too much on the tech (and we know it's complicated for the mainstream people). My approach for when friends ask me about Bitcoin is asking them questions like: Do you know what money is? We gotta go back to basics.
I want to read What Has Government Done to Our Money?, by Rothbard. Have you read that?
Seems interesting, might take a look of it.
Yeah, people ain't that interested on technical details, me neither. That's the way to go.
No, haven't heard of it.