Selgin vs Ammous - can Bitcoin be Money?

In early August, George Selgin (Cato institute) debated Saifedean Ammous at a Soho Forum event. The question they tried to resolve was: “Can bitcoin replace government-issued money?” Selgin argued that while bitcoin is a good product, it doesn’t have what is necessary to replace fiat currencies, while Ammous said “It’s the only thing we’ve got, deal with it.” Interestingly, Ammous managed to convince the audience and move them in his direction. I believe Selgin is right. He’s very well informed, though I disagree with his concept of “very vulnerable to hacking” - I think that’s a misunderstanding. But his argument is mostly based on volatility, and that’s key. Please watch: