Any commodity money that isn't market-produced — i.e., that amounts to a return to a government gold standard — is doomed. Moreover, the market has now produced mathematical (algorithmic) money from which there is no turning back. On the contrary, it will only get better (e.g., Steem) in that it will become easier and easier to use and as anonymous as users want it to be for any given transaction, not only undermining government production of, and control over, money but undermining government itself.

The state, in other words, has reached its apotheosis and will be in increasingly precipitous decline from here on out.