Fundamentally there are two positions, One Centralised FIAT Currency on one extreme and at the other an infinite number of ( Complementary, Competing) Crytpo’ and FIAT Currencies and other means of exchange’.
With the Crypto Market being at around 500 billion dollars it registers as a Player sized entity in the regular Markets of Capitalism it poses a risk only in the danger that it sets a Good example that challenges Petro Dollar Hegemony.
This Tweet I responded to yesterday is something of the scale of the situation and in the Old Adage of First they Ignore, then they Laugh and then they Fight then you win.
Winning is a curious Notion as in a functioning monetary system there is no winning only taking part.
The establishment Gatekeeper position on Centralised IBS models of International Floating exchange rates and debt based money has been taken up by Richard Murphy the Tax Evangelist.
All of the comment I made on the discussion have been removed but I kept copies in this series of Posts. Richard Murphy and the MMT School knowingly or not are carrying water for the Status quo which is effectively privatised and centralised money creation as debt based instruments. People like Richard Murphy, Mosler, Wray and Mitchell are frankly part of the problem.
This recent discussion between Keen and Mosler is worth struggling through, Mosler clearly shows how he is on the Ought side of the Is Ought Dichotomy.