There is a bottleneck looming in this round of cryptocurrency adoption: Sovereign-backed legal protections for corporations. ..
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..So until the physical-space-commerce route-around problem is solved, BTC potential is very much men-with-guns limited. ..
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..The analysis around Moldbug-flavored Neocam patchwork usually assumes Bitcoin enables it, but really the causality has to be reversed.
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.. 2 ways for BTC to rise from the ashes after this round: 1. Strategic voluntary adoption by sovereigns 2. IoT gains sovereign-like power.
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If IoT gains sovereign-like power, we will have much greater concerns than medium of exchange, be it bitcoin or
$US as reserve currency.
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Serious capital is going to assume sovereignty for itself soon. Its current deference to human tribal councils looks increasingly primitive.
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... VOC and EIC had very considerable autonomy, and plenty of guns. Environment far more opportune for such a situation now.
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Two ways a frontier comes back: 1) Pushing further into hard environments (Antarctic, Oceanic, Off-Planet) 2) World-order collapse cascade
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"Expedition Log, July 14, 2039. Forward teams reached the outskirts of Hackney, bearing trinkets to exchange with the local cannibals ..."
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