MacroVoices #343 Jeff Snider: Why the Dollar Remains King
Macro Voices
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Is There a Need for a Competing Currency?
Digital currencies are everywhere, despite the fact that various points along the way they've tried to kill them. They thrive more because the private market place knows there is a need for a competing currency - even if most people don't know what it is. And i would advice anybody in silacon valle is simply proof of concept. Prove that your currency can work as a medium of exchange in all the ways it needs to. It can hit the three pillars robert solomon talked about 50 years ago. Once you do that, i think you get into a situation like gresham's law here. Eventually, overtime, you have a digital currency that wins more and more and more adherents
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