Reserve currencies have come and go, but sometimes over spans of hundreds of years. Bitcoin has been around fewer than five. Maybe we should wait a minute or

Reserve currencies have come and go, but sometimes over spans of hundreds of years. Bitcoin has been around fewer than five. Maybe we should wait a minute or two before discussing its role as a global reserve. No smart government would make the currency dependent upon predictions about its impact on global monetary policy, because that would involve a heady series of presumptions. Also challenging these presumptions: Bitcoin is essentially a proof of concept, which could be copied or forked or reimplemented from scratch at any time. Some alternate coins have been developed already, maybe not enough to exceed the network effects, but these improvements pile up. Something destabilizing could easily unseat Bitcoin over the span of time required to scale to cover a plurality of human transactions.