Commentary Talk of Bitcoin’s triumph is premature to say the least. Bitcoin and its cryptocurrency cousins seem always in the headlines. Sometimes the interest is simply because the price has skyrocketed. Sometimes the headlines chronicle a sudden price crash. Either way, there is interest. And sometimes the story under the headline talks of how Bitcoin will supplant the dollar and somehow “free” people by offering a truly international currency. These “freedom” stories seldom connect all the dots, but they create excitement by offering the promise of something better. What is interesting is how the stories about massive price moves forcefully, if unintentionally, explain why the international dominance stories make dubious forecasts. To be sure, claims that Bitcoin and other cryptocurrencies are money have an element of truth to them. One of the essential characteristics of money is that it facilitates the settlement of contracts. And Bitcoin has something of this …