Magic Internet Money by Jesse Berger

Author:Jesse Berger
Language: eng
Format: epub
Publisher: Jesse Berger
Published: 2020-10-06T16:00:00+00:00

Chapter 8

Competition

8.1 A New Frontier

“We ask only that we be permitted to compete on an even basis, and if we are not worthy, then the competition shall, per se, eliminate us.”

Jackie Robinson, Humanitarian, First Professional African-American Baseball Player

Like the taxi industry before ride-sharing, fiat money was for decades a deeply entrenched monopoly, with no impetus for meaningful improvement, and no expectation of any imminent or existential threat. It operated with impunity.

That state of affairs was permanently changed with the arrival of Bitcoin. Its launch marked the opening salvo of a new arms race to reimagine money for the 21st century and beyond. Like the Space Race before it, where Cold War foes the United States and the Soviet Union competed to be the first to achieve spaceflight, the race for monetary supremacy marks a defining moment in history. It has galvanized institutions and individuals, the vast majority of whom had previously treated the conceptual foundations of money as an afterthought, into scrutinizing its purpose and performance.

Moving forward, the medium that best embodies the desired characteristics of money, as demanded by global markets in the wake of this heightened interest, will likely accrue the most value into the extended future.

The remainder of this chapter is dedicated to directly comparing Bitcoin against the other monetary mediums with which it competes for that treasured mindshare and value.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.