No, I just thought the similarities were interesting.
Now I want to correct somebody who seems to think that money now on a variant of the "gold standard", when it isn't.
Net (after all money-in-bank) UK national debt is over £1,254,000,000,000
Does the UK government really have that much in physical assets? It doesn't matter because we can keep servicing the debt and inflation means the real cost of the debt goes down over time.
Banks don't have the assets to repay all their liabilities - they bet the company on no more than a small number of loans going bad. In 2008/9 a few of them lost that bet.
Foreclosing loses money, that's why they try to avoid it if possible. I pay my mortgage because I don't care if the bank loses money, I don't want to lose my house!
- On a small scale, inflation means my mortgage payments get more affordable as time goes by.
Government are afraid of too much inflation as that can kill the currency, and of deflation as that kills their borrowing. They need it to be just right.
The difference between Bitcoin and GBP is that there are hundreds of millions of people who are confident that GBP will still be valuable in 25 years time.
Very few people are confident that Bitcoin will exist at all by then, expecting it to have been replaced by something else.
Who is right remains to be seen.
Real currencies have gone down the toilet more than once, with hyper-inflation wiping out everything (Germany, Peru etc). A new currency was then created - the government and country still existed, but the old currency became worthless.
Even GBP nearly did it in the 70s.