My main complaint with crypto is not the underlying idea of a digital currency, is that people used it as a straight investment like it was a normal stock, they traded it like it was a different currency without understanding currency trading fundamentals, or they used it as a hedge against the USD/Pound/Euro collapsing as though that would gain without taking down the complete grid which is how crypto transactions get tracked against the public ledger. Yes, P2P crypto rejections are possible, but in a collapse scenario they’re effectively useless, even more so than gold and silver, and I’m a big believer that the only true precious metals in a grid down scenario are lead, steel, and brass in the forms of tools and weapons to defend communities.
Gold has value as a transaction medium in some scenarios, but they depend on being able to accurately assay the quality and weight, neither of which lend themselves to quick transactions in small purchases. It’s also super heavy, and since the mined coins are a full or half ounce, in a collapse scenario they’re too valuable for little things, which means massively overpaying and therefore spending the hedge at an accelerated rate.
It’s like deferred maintenance on dams and bridges. They don’t all fail at once, but the more time goes on, the more things fail. Reddit won’t fail all at once, it will slowly spring leaks and fail.