There have always been multiple forms of money. Precious metals are money. Money can be defined in different ways to include many forms. It does not include just the most liquid forms, which are cash and bank deposits. Cryptocurrencies are yet another form of money. Money is a game of confidence people play amongst themselves. MMT is all about a single entity dictating the rules of the game.
That said, in this particular situation the MMT proponents may be right in that there is plenty of scope to print more money. The production capacity of the economy is looking at accelerating gains from the cost of computing power, bandwidth and data storage dropping exponentially and the fact that an increasing share of the economy is IT. Bitcoin is, in fact, a part of the proliferation of money along with other cryptocurrencies cropping up left, right and center.
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Your second paragraph gave me much food for thought. Thanks for sharing!
No problem. I rewrote one sentence for clarity.