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Education and culture will let individuals choose the hard money, yes. (He who hoards first the new hard money becomes more powerful over time, and that’s how easy moneys get replaced by harder ones.)
But for countries, because it’s about masses of people, I guess stable adoption of harder moneys will be about game theory dynamics?
Clearly the fiat (dollar) standard won over the gold standard, so far.
The next money will need be harder than dollar.
Imagine a small country hoarding bitcoin early, getting wealthier, then others follow, profiting most the earlier they join.
Some day that small but wealthly country on bitcoin standard feels threatened, needs stronger military capabilities and alliances.
Either it start printing fiat money. Or it makes alliances with other countries bitcoin standard? Or whatever else.
And the superior money will win: maybe bitcoin, maybe dollar, mayber others.
It won’t be one country alone on hard money standard. Because if that money standard is superior, others will follow. If it isn’t, this first adopter will finally abandon it.
It will be all countries moving progressively to the new superior money standard.
No country is on gold standard nowadays, because gold isn’t the hardest money anymore. (By definition of “hard money”).
For memory, the attributes of hard money:
– salability across scales (divisible, fungible),
– salability accross space (transportable, easy to authenticate, check purity, acceptability)
– salability accros time (low inflation, limited and predictable supply, doesn’t rot or corrode, no central authority)
