> There's also the fact that bitcoin has no central monetary policy.
Once the fractional reserve bitcoin banks have popped up, there is no monetary policy, including no way to control money supply. That there are institutions that can create economically bitcoinlike payment units at will, obviously causes the value of bitcoin to fluctuate (chaotically, would be my guess). And traditional banking can easily replicate that, only thing we need to do is remove all regulation of financial institutions. Yes, there are reasons why the regulations are in place.
> it's resistance to chaotic global events makes it a very good hedge against global disaster
Not much of a disaster in my books if you have continuous access to internet and electricity.
Once the fractional reserve bitcoin banks have popped up, there is no monetary policy, including no way to control money supply. That there are institutions that can create economically bitcoinlike payment units at will, obviously causes the value of bitcoin to fluctuate (chaotically, would be my guess). And traditional banking can easily replicate that, only thing we need to do is remove all regulation of financial institutions. Yes, there are reasons why the regulations are in place.
> it's resistance to chaotic global events makes it a very good hedge against global disaster
Not much of a disaster in my books if you have continuous access to internet and electricity.