The insight here is, why not both? Old economies lurched from hard/gold-backed currencies to fiat. Why not build an economy that exists on multiple layers, an

The insight here is, why not both? Old economies lurched from hard/gold-backed currencies to fiat. Why not build an economy that exists on multiple layers, and has both options? Use fiat to make short-term transactions and investments. Use hard crypto to fund the things you think are so valuable, they are worth overcoming the deflationary pressure for. Moving away from all-or-nothing systems is kind of the point.