But this whole tangent is pointless because CC isn't fluid money yet. There are times and places it is useful liike transferring large amounts of capital without a need for a third party, store of value, aesthetics, etc. Not a dollar replacement.
A CC economy will eventually relpace the dollar economy.
I doubt it.
First of all, I don't think the supply of bitcoins and their ilk is sufficient to provide adequate liquidity in a $20 trillion GDP economy, let alone making purchases of trillions of dollars of imports. Or is the thought that the supply of bitcoins etc in circulation would be increased by having everybody and his brother be able to come up with their own additional competing CC?
In the second place, the Fed currently has the power to exercise some control of the economy by manipulating the money supply and interest rates, and I don't see them giving up that power without a fight.
I guess time will tell though. I don't plan to lose sleep over it.