Intetestiing article. The conclusion is
1)If network effect and switching cost is high, in cryptoworld BTC is hardly to be replaced by its imitators. And USD is hardly to br replaced by Tether/NBT. But if a first popular Hayek money comes into being, it’s also hard to replace it by other Hayek copycats.
2)If the network effect and switching cost is low, Hayek’s theory probably becomes true in future.
So how about issue a Hayek money with BKC and make switching cost very low in BCE? At least in future we will have lightning network tech which is one million per second trade ability.
Cryptocurrency for the first time in human history gives the exact experiment chances to test monetary theories. Location restrain is removed, as long as you live on this planet with internet, you are free to choose among BTC, LTC, DOGE etc, and the shapeshift service makes switching cost low. People can even lower the switching cost lower by lightning network.
Time to test truth!