But they had to exercise those powers, which themselves had significant political costs since they were explicitly seen and felt by the population. Now compare

But they had to exercise those powers, which themselves had significant political costs since they were explicitly seen and felt by the population. Now compare that to the wars in Iraq and Afghanistan, or Syria. The difference is clear. Besides, cryptocurrencies have a property gold doesn't: They take up no physical space and even huge quantities can be hidden easily and/or lost forever. If your government became oppressive, you couldn't take your life's savings in gold and leave the country. They could feasibly confiscate your gold [1] in a way they can't with crypto. They can still point guns at you, conscript you, or imprison you, but their options are lot more limited with crypto. [1] https://en.wikipedia.org/wiki/Executive_Order_6102 https://en.wikipedia.org/wiki/Executive_Order_6102