Nick Szabo  🔑

Bitcoin is replacing government bankfiat. Skeptics think there is room for debate, well there isn’t. It is far too late. Bitcoin solves so many problems that it is inevitable.

We’ve reached a tipping point, exit velocity, etc. with network effects and sufficient decentralization of bitcoin that hyperbitcoinization is an inevitability. The only questions are when and whether one has a sufficiently low time preference to reap the rewards of it.

1/ You really believe that, Pierre? The $USD has such a deep pool of liquidity I just can’t see it — certainly not anytime soon (soon = 25 years). If we ever have a mass fiat devaluation event I have sincere, deep doubts ppl will seek out BTC in a massive scale. If anything,

2/ I see people dumping ‘bank run’ style to get their hands on immediately spendable currency ($) to cover overhead/real monthly expenses. What proceeds is many wishing to exit & buyers likely absent due to liquidity drying up on account of increasing unemployment, slashed 401ks

2/ IRAs, asset prices etc. I haven’t encountered any eloquent articles addressing this (in my mind) very likely scenario. I’m a BTC advocate no question, but I do question fiat death = things priced in sats and govs use BTC as their national currency.