To become widely adopted, bitcoin and other alt-coins must overcome competition from existing, government-sponsored currencies and reduce the costs for consumers to switch to new payment systems. Until these challenges are met, digital currencies will likely persist only as niche monies or substitutes for very weak currencies.

 PDFRead the Full Article (PDF, 8 pages)


Other Independent Review articles by William J. Luther
    Spring 2018   The Curse of Cash
    Winter 2014   The Battle of Bretton Woods