It is really telling that the people who complain most bitterly about fiat currency fall into a few different camps, most of which want to destroy any kind of government social safety net. On the one hand we have the right-libertarians / "anarcho"-capitalists promoting bitcoin etc. On the other hand, elements of the wacko/fringe right in the US have been attacking "fiat" currency and Keynesian economics for decades, loudly calling for a return to the gold standard. By wacko right, I mean organizations like the John Birch Society, Liberty Lobby, and similar, and ideological descendants thereof.

These seemingly disparate camps -- fringe right and "anarcho"-capitalist -- share a fundamentally anti-democratic philosophy. For example, one of the seminal texts of "anarcho"-capitalism is Hans-Hermann Hoppe's _Democracy: the God that Failed_. If you look through my posting history, you'll find a quote from Tim May, an "anarcho"-capitalist and leader of the cypherpunk movement, wherein his anti-democratic sensibilities are on full display.

I'll end with a quote:

Begin quote. More than that; we can tell them that they will search the pages of history in vain to find a single instance where the common people of any land have ever declared themselves in favor of the gold standard. They can find where the holders of fixed investments have declared for a gold standard, but not where the masses have. End quote, from William Jennings Bryan's "Cross of Gold" speech.

I'm totally in favor of a cryptocurrency ban; we will not be crucified on a cross of bitcoin.