Accurate depiction of fiat; however, also missing another analogy-- to that of confiscation of gold in the 1930s before devaluation. You see, the powerful governments with all the guns don't take kindly to competitive currency forms that steal their ability to print money effectively. There's never been a case in history where the people successfully stopped a government from printing money, by using an alternative currency-- LEGALLY. Not saying one can't hold bitcoins or gold to get around the problem, just saying that you'll also have to eventually embrace being an outlaw WHEN they make it illegal to hold tokens/crypto-currencies.
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