Do you think will see alternate currency start to be used more once this comes out? I think we will see more turn to bitcoin globally and locally there will be those who use goldbacks, Liberty Dollar and bartering..we are kinda starting to see that here in small groups in CT.
Discussion
Bitcoin, yes. Barter, no…it’s just a theory that won’t die. It was never part of the evolution of money. If you think about barter from first principles, it is simply too inefficient to produce any excess value to either party of a trade.
Money began as credit among tribe members, and eventually, humans’ unique penchant for collecting unique things that other humans want to collect, became the first money for trading trustlessly, outside of the tribe. Credit requires trust, money does not. The most saleable goods gained a monetary premium. You trade whatever for gold, or cattle, or wampum, and use the monetary good as money to buy what you desire.
A CBDC is going to be more saleable than some made up local “currency”, but less saleable than Bitcoin.