Just compare the cost and steps involved to validate, secure and transport bitcoin vs metals. The benefits and cost savings when using bitcoin is enormous. Even the most bullish gold bug knows this but they might not say it publicly of course.
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But won't the overall networks larger hash power reject that nodes work/transactions? I get that it could run in tandom to the larger network but wouldn't that node be it's own mini fork at that point ?
51% can only censor or double-spend, and only for as long as it maintains the >50%, it can't fake transactions, make extra new money, etc.
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I guess my point is if the "mob" wants to change what bitcoin is, basically a voluntary hard fork, a voluntary permanent "51% attack" if say it was ever adopted world wide/mainstream. Like say some Keynesians talked majority into believing higher inflation was good type thing.
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Bitcoin's scarcity being governed by an economic majority through consensus poses a real risk over the long term. Hard money advocates do better to keep bitcoin owned by those with similar mindsets rather than selling it to the masses. Gold's natural scarcity is superior IMO.
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Proof-of-work provides a fallback strategy of natural scarcity if the 21m limit fails.
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