Mind-Bending Narrative Shifts in 2019

When it comes to crypto, narrative shifts represent shifts in mindshare.

For the cynical, this type of narrative shift can suggest a certain insincerity of purpose.

Another narrative worthy of consideration is the ascendance of bitcoin maximalism.

To me these lag far behind what I believe is the indisputable narrative of 2019: the emergence of a true global digital currency war and the way it has raised the perceived stakes on the crypto industry as a whole.

The emergence of a true global digital currency war is the most important narrative of 2019.Historians are fond of pointing to pivotal events within big pattern-shifts and saying "That's when everything changed." When it comes to Facebook's announcement of Libra, it really was an "Everything changed" moment.

While many hadn't been particular fans of bitcoin, none seemed to take it seriously as a true threat to fiat currencies.

In turn, in a second round of Congressional hearings in the US, Zuckerberg himself brought the threat of a China-led digital currency future as the boogeyman of the proceedings, effectively arguing that if Facebook wasn't allowed to do this, China would.

The year ends with the digital currency wars in full effect.

Bank of England Governor Mark Carney called for the creation of a "Synthetic Hegemonic Currency" to replace the US dollar as the world's reserve currency.

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