Coinage versus Cash and Its Instruments

The intent of this blog is to examine the concept of money with an eye to reducing the current confusion about it by simplifying an analysis by making the taxonomy, historical and conceptual, more complex. And more conceptually difficult, be warned.
Coinage is the act of creating a standard value reference which is the essential act of arbitrage. Such a device allows a rough calculation that determines whether a good may be moved from point A to point B at a profit. Coinage makes trade possible and that's all it does.
Cash, on the other hand, and I am using the term as a taxon of the category, money, in order to separate and contrast the economies of coinage and cash, is an accounting device. It is a value reference of vastly more utility than hard money, coinage. It engenders sophisticated derivatives that make a general prosperity possible.
When the great Classical Liberal economist, Marshall speaks of Labor 'having' as the mark of a functioning economy, he is addressing the crux of the great and vicious arguments of the 20th century. He is of his age and speaking in terms of pounds sterling which were found woefully inadequate to the task of a general prosperity even as technology was taking the possibility of that concept to new heights.  Thus we have institutionalized an accounting device and its liquid instruments as the standard for value reference, a value calculus employed in market operations.
Coinage depends on the supply of precious metal for monetary policy. Cash depends on complex calculations made possible by sophisticated accounting procedures and powerful economic paradigms for its management. It is obvious by inspection that the former is doomed to failure while the latter has a real chance of success.
Where do cryptocurrencies fall in this scheme? They fall significantly into the category, coinage. They are avowedly  anti-bank and reject any notion of rational monetary policy. They are, like all coinage, doomed to failure. It is inherent in their conceptual base.
It is wise to remember that magpies are ridiculously attracted to shiny objects. Gold and silver are a priori valuable to the brain but they belong in beautiful adornments, not in coins of general use.
Do Well and Be Well