“competing currencies.”— Can’t happen. No state can tolerate it. They need fia

–“competing currencies.”—

Can’t happen. No state can tolerate it. They need fiat for money supply, they just need a mechanism for limiting it. The reason I see crypto working in the USA is that the institutional investors are using it as a safe reserve. IN other words, the tech is so bad (slow) that it can’t function as a proper currency (response time), but it’s fine for an asset – at least once growth equates with volatility producing stability.