Evangelists and skeptics alike tend to frame digital currency protocols and state fiat currencies in stark conflict, but the promising moderate view sees them coexist as mutual optimizations of one another.
Bitcoin doesn’t need to replace fiat currencies in order to be successful – it merely needs to optimize away the pain of (and expose new value in) transferring currency.
Conversely, fiat currencies don’t need bitcoin to fail or see it regulated into the shadows in order to ensure continued sovereign coin sustainability; traditional economies can instead assimilate digital currency protocols to grow a stronger, safer, less expensive and more valuable hybrid economy.
March 09, 2014 at 05:00PM
