The focus on fixed money supply seems a little absurd to me anyway, given the triviality of creating new crypto-currencies, and the relatively low transaction c

The focus on fixed money supply seems a little absurd to me anyway, given the triviality of creating new crypto-currencies, and the relatively low transaction costs of trading between them. Imagine making a case for returning to the gold standard, when thousands of other choices for new precious metals, all with the same performance characteristics, were literally just lying around, and a network of drones would let you swap perfectly and instantly between those metals for pennies! In that light, one can certainly understand the fervent contempt that Bitcoin maximalists hold for "shitcoins"; but a free-banking market cuts both ways. Barring a state blessing one chain and outlawing the rest, creating new cryptos and swapping between them won't go away. The proper way to measure the emergent "monetary policy" of crypto-currency is of the sum of all chains, not of Bitcoin itself.