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He argues that Bitcoin represents a new environmental niche, akin to Earth's oxygen-rich atmosphere. This environment favors "species" of money that are internet-native: instant, global, unforgeable, open, and secure. Just as oxygen enabled aerobic metabolism, Bitcoin and digital currencies are enabling a network-centric evolution of money, paving the way for a diverse ecosystem of competing monetary "species."
The Birth of a New Monetary Ecosystem
The environmental niche created by Bitcoin is expanding rapidly. The number of currencies has skyrocketed from about 164 national currencies to over 3,000, most of which are digital, distributed, and thrive within the internet space. Many of these will vanish, yet others will evolve independently, forming a complex ecology.