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6/ Maybe they increase demand for cash (by increasing usefulness), but some will increase the supply (ie via issuance of currencies like @therealbasecoin, who peg via algorithmic bond issuance, rather than offering conversion to/from full reserves).
7/ Which means, with truly epic irony, these currencies could get their value through (modest) inflation - ie stealing it from current cash-holders, just like central bank printing. Which is hilarious, counterintuitive, and yet flows straight from monetarist first principles.
8/ That's life on the frontier - there's so much missing, which means there's so much to build, hence the appeal to builders - of technologies & teams, but also models & ideas. And analysis lags technology, so cryptomacroeconomists have, if anything, even more work ahead. Yay!
More likely, since central banks have targets of various sorts, as pegged crypto tokens start to circulate, central banks will offset new crypto printing with less regular printing of fiat. (And, yes—cryptomacroeconomics is fun!)
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