Ironically it may be the worlds so called currency experts that are the last to understand this once in a one thousand year currency paradigm shift.

You would think self proclaimed "currency experts" like the worlds central bankers and economists like Peter Schiff would be the first to understand the value of the worlds first currency paradigm shift since gold became money, because they are the experts right? Yet it seems as though they will be the last to grasp the value inherent in this paradigm shift.

Jerome Powell states he doesnt understand how bitcoin can have value if its not backed by the government. Yet its pretty clear anything no matter if it is physical or digital can obtain free market value.

Peter Schiff states no crypto can have any value unless it is backed by physical gold. Yet its pretty clear trying to use hundreds of gold custodians across the globe all issuing their own jurisdictionally restricted gold backed tokens would bring back all the problems we have today like which custodians can be trusted to hold the gold, ensure transactions are propogated, and ensure your funds are not frozen or hypothecated. Along with the barter issue of how to get someone on the other side of the world to accept the gold token you use instead of their own preferred gold token.

They refuse to accept the new paradigm that a decentralised digital currency can be valuable without being backed by fiat or gold.

These are the worlds most prevalent currency experts and they have completely missed what is happening.

Shifting paradigms means to let go of existing assumptions and embrace brand new assumptions. They cannot change their thinking to allow for their own biases to make way for a new way of thinking, and when you cant change your way of thinking you cannot shift your paradigm, and that causes future innovations to blindside you.

All it would take is for them to adopt the new reality that it is in fact possible for the free market to value a decentralised digital currency as money for its scarcity immutability and transactional utility. But they refuse to make this shift in perception. They are letting the old paradigm control their thinking and this is preventing them from being able to open their eyes to the new paradigm.

They are not prepared for the future of money, and bitcoin will completely blindside them while they desperately hang on to their fiat and their gold.

Central bankers wont understand it until their respective treasuries need to hold bitcoin as a matter of national security. And economists like Peter Schiff wont understand it until the only way he can pay for his property taxes and send money overseas is by scanning a lightning invoice.

They are the old guard, completely blind due to their own biases and assumptions which have trapped them inside the old paradigm. If you want to know how the future will unfold do not listen to central bankers or economists, instead listen to technologists who understand the new paradigm.

Thinking only a gold backed digital currency will work is as asinine as thinking only a fiat backed digital currency will work. In this new paradigm neither gold backed digital currencies or fiat backed digital currencies will be relevant. Within the new paradigm the only relevant digital currency will be one that is backed by real world energy (proof of work), decentralised, politically and jurisdictionally neutral, and one which allows for self custody with zero counterparty risk. That is bitcoin.

Within this new paradigm that we now live in Bitcoin is the only relevant digital monetary network.