That doesn't logically follow. Early adopters and greater fools is inherent in all investing, but that doesn't mean that one digital currency won't gain sufficient installed mass, to make competition impossible.
Bullshit. Switching to a digital currency requires dramatically changing the status quo in regards to money. Don't sit here and tell me that after
that status quo is changed it could never be affected again. There is also *nothing* that precludes ongoing currency competition.
Booms and busts are caused by the fact that humans love (or feel they need) debt. I doubt this will ever change.
And who does debt make humans beholden to? Can we just completely eliminate that from the equation and lay the blame "on the numbers" rather than "on the system"? Seems awfully short-sighted to not even consider the latter.
However, the reason demand for debt will always be around is because not all the humans can compete and participate in the new technologies perfectly well. They use debt to compensate. And the majority is always behind the technological curve.
Thus you won't be able to prevent debt with a currency design, because debt is desired by the 51%. The political power will route around your attempts.
Arguments that are completely rooted in the idea of debt-based currencies. "The only option to maintain participation in the economy is debt, therefore people like debt."
That is a non sequitur. Such simple logical fallacies cast doubt on any further conclusions.