Means of Exchange : Ever Present Competition (Beyond Bitcoin, Chapter 2)

In this chapter, we present the history of money in the light of ever-present competition between means of payment. 2.1. The medium of exchange – historical overview 2.2. What roles does money serve? 2.3. Competing money 2.3.1. Coexistence is costly 2.3.2. Network effects 2.3.3. The difficulty of introducing new currency: Excess inertia 2.3.4. Coexistence of various currencies 2.4. Virtual money? For Chapter 1 (Introduction), see "https://ssrn.com/abstract=3135021" https://ssrn.com/abstract=3135021. For Chapter 3 (Platform-based Currencies), see "https://ssrn.com/abstract=3135030" https://ssrn.com/abstract=3135030. For Chapter 4 (Cryptocurrencies), see "https://ssrn.com/abstract=3135043" https://ssrn.com/abstract=3135043. For Chapter 5 (Conclusions), "https://ssrn.com/abstract=3135057" https://ssrn.com/abstract=3135057