Hold on! And note that Hayek's ‘Denationalisation of Money’ was an idea that private money is better than public money because private issuers:
1) will compete with each other on the open market; and
2) will be incentivised to maintain and protect the value of their private money.
It is sort of funny because it looks like Hayek in fact proposed something that we now call crypto shitcoins.
I tend to forgive him since he could not assume that it would possible to invent (or discover if you like) money which is absolutely scarce.
