Roger Lewis Soheil Behrad Money is not valuable in and of itself, Money is a ticket or coupon for exchange / deferred consumption and the value and wealth lie in the economy within which a token/Coupon Unit of account is valid for trade within.
Aristotle said money is created by Law not nature, this is true of FIAT money. Bitcoin and cryptocurrencies are presently created by convention or custom within a defined network lets call it the Blockchain space. Crypto is voluntary and very powerful but a very small fish in an ocean of FIAT money.
When Bitcoin or ETHER or Dash or any of the hundreds of COins are generally accepted and held in preference to other Money´s with STate/central bank sanction then the Bankers will have lost. Things are a far way from that point as most of the Greater Fool investment in the present bubble is not an investment but speculation where The speculator takes profits in FIAT currency, ultimately this ties Bitcoin to FIAT value which in itself is also illusory.
Carol Quiggley sums up the idea of Moey and wealth in Tragedy and Hope thus,

Money and Goods Are Different
”Thus, clearly, money and goods are not the same thing but are, on the contrary,
exactly opposite things. Most confusion in economic thinking arises from a failure to
recognise this fact. Goods are wealth which you have, while money is a claim on wealth which you do not have. Thus goods are an asset; money is a debt. If goods are wealth; money is not wealth, or negative wealth, or even anti-wealth. They always behave in opposite ways, just as they usually move in opposite directions. If the value of one goes up, the value of the other goes down, and in the same proportion.”
The Relationship Between Goods and Money Is Clear to Bankers
In the course of time the central fact of the developing economic system, the
relationship between goods and money, became clear, at least to bankers. This relationship, the price system, depended upon five things: the supply and the demand for goods, the supply and the demand for money, and the speed of exchange between money and goods. An increase in three of these (demand for goods, supply of money, speed of circulation) would move the prices of goods up and the value of
money down. This inflation was objectionable to bankers, although desirable to producers and merchants.On the other hand, a decrease in the same three items would be deflationary and would please bankers, worry producers and merchants, and delight consumers (who obtained more goods for less money). The other factors worked in the opposite direction so that an increase in them (supply of goods, demand for money, and slowness of circulation or exchange) would be deflationary.”

http://letthemconfectsweeterlies.blogspot.se/…/on-tulip…

Central Banks are developing their own Blockchain, of course, it is not going to be open source and will swindle the users of its tokens as the present system does. Actually, Bitcoin is already compromised, its basic algorithm is NSA patented.
Blockchain will win out in the end on the distributed web Bitcoin and Ether will more than likely figure as also-rans

http://letthemconfectsweeterlies.blogspot.se/…/the-king…

Meanwhile, in the forthcoming shit storm the key to hedging against the forthcoming shitstorm is to diversify into several cryptos and physical gold and silver and other commodities, any centrally controlled “Market” is comprehensively rigged at this stage so pay very close attention to Quiggle quoted above.

On Monetary theory generally, try this.
http://letthemconfectsweeterlies.blogspot.se/…/neo…

 

 

On Tulip Manias and Fragility in our Nascent Democracy.The Future of…

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