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This is hopium. > - Sovereigns and institutions fall back to gold because of familiarity and a liquidity profile that can handle larger flows compared to bitcoin Yep, happening right now. - Bitcoin is adopted by smaller players (individuals, corporations, funds) until sovereigns recognize that bitcoin is the ultimate store of value asset in the Digital Age Sure, happening right now. - The bitcoin standard rises from the ashes of fiat debasement and analog store of value assets Ok you just skipped the bit where Sovereigns and Institutions wake up, realise the error of their ways, and go all in on #Bitcoin because others did - why would they give up their fiat power WHEN THE ENTIRE SYSTEM RELIES UPON IT?! Revolutions happen when the incumbent elite lose the will to power, when they lose faith in their ideology and guiding philosophy. Unless Bitcoiners are ready to step in with their own Institutions, their own ideology and guiding philosophy and a vision which others can buy into, nothing happens and we reset the fiat game for another 80-100 year cycle. Study #EliteTheory people. If the purpose of a system is what it does; you best understand the system of power else you’re just deluding yourselves with hopium like this. 📝 7cfab83a…

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Replies (2)

MrTea58d ago

I wonder if bitcoiners realize they sound like gold bugs over the last 30 years? I don’t think most of them are old enough to realize it. I don’t buy into the doomerism that everything is going to burn down and then bitcoiners rule the world. I mean maybe 🤷‍♂️ but that sounds like something that would happen over 5 generations and not in my lifetime. I feel like they glom onto these low probability events to give their life meaning with the hope that one day they will say “see! I was right!” If we are assigning probabilities TODAY, then it’s more likely Bitcoin fails than we see hyperbitcoinization. However, bitcoiners are directionally accurate so that’s been enough for me to join in

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StackSats.IO58d ago

It could well happen in your lifetime. I’m confident that the ruling elite isn’t far from losing its will to power behind the current worldview. But hoping that the world will spontaneously re-organise around you because you have morals/righteousness/philosophy/hard money/whatever on your side; that’s just not how the world works. It requires organisation. Even if the system collapses #Bitcoin could still go to millions per coin but that doesn’t necessarily mean hyperbitcoinisation - that just means Bitcoiners would be rich in a system ruled by a new set of elites who aren’t going to give up the money printers because they’ll want to use them for THEIR new ruling ideology. That would be Bitcoin failing in my view and I see that path currently as FAR more likely than true hyperbitcoinisation the way Bitcoiners consider it where it’s the basis of the global economy and people are no longer enslaved by monetary debasement - that path requires an organised minority with will to power who put reality ahead of ideology.

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