While I really enjoyed your article and the accompanying video, I don’t really feel like you made your case that cryptocurrencies aren’t “money”. I could simply counter, “I can buy a cup of coffee with my cryptocurrency. In my state, I can even pay my taxes. Quack. Quack. Passes the duck test. It’s money.” As you stated in your article, gold is a really bad form of money, except when you are on the lamb.

Now if you had said that fixed supply, decentralized, cryptocurrencies are a really bad form of money, I think you have a strong case. Their inability to control the money supply in reaction to the health of the economy makes it a recipe for disaster. This is a lesson we don’t need to keep relearning.

As an anti-fundamentalist, I think that it’s important that we are exact in the purpose of a thing, and don’t just try to define it in absolute terms. Gold is great as a form of money when society collapses. It’s just sheit for this whole civilization thing. The libertarian desire to gut central governments is at the heart of much of the cryptocurrency movement. When it comes to situations like Greece, they make a strong case. As someone who feels that the government has its place in ensuring the welfare of its citizens, I think that us Keynesian blockchain enthusiasts need to make our case. CBDC certainly seems to do this.