So, a cryptocurrency that is backed by something scarce (gold) is a good thing. OK, I'm with you.
And yet...a cryptocurrency (#bitcoin) backed by something that's not only scarce, but is also totally finite is a bad thing?
Many smart people make this error. They can't see that bitcoin is both the asset (gold) AND the system (the "crypto" that delivers, stores, and secures the asset). With a gold-backed stablecoin, Schiff is actually arguing for a hacked up version of...bitcoin. More: