National currencies face digital monetary competition

i.e. fiat currencies aren’t going anywhere, but digital ones are only going to become more prevelant



Intro: Main takeaway

Problem: Modern monetary theory is “print more money if you need it”

  • viewed it as a fishtank re: water in, water out
  • missing: people leaving, currency competition, lost money

Almost anything can be valued like money

  • “money has no intrinsic value”
  • you can view almost any asset as a currency provided it has enough liquidity
  • massive currency competition with USD

Digital competition comes in many forms

  • fiat vs. cryptocurrencies
  • physical vs. digital communication, documentation, governance, etc.
  • re: new information + knowledge application vs. [established model]
    • re: “Economy is founded on application of knowledge” as a link

Conclusion: ???


This post outline is currently half-formed. While it may effectively argue the (current and upcoming) shortcomings of national currencies, it fails to explain the benefits, solutions, and reasons why digital currency will succeed (or otherwise provide competition.)