a very simple theory yet it cuts deeper than most people realize. bitcoin’s outcome’s binary. either it trends toward infinity or it collapses to zero. most likely it won’t go to zero and it won’t ever be replaced because any successor would inherit a fatal flaw the moment it’s born. if you can replace money once, you can replace it again, and that destroys all trust, so it’s not about a better tech. hal articulated this very nicely. whats unique about bitcoin is that it has solved that final coordination problem which is the biggest challenge of getting the entire world to agree on a single digital monetary standard that no one can change, no one can remake, and no one can reset. the path is basically one direction.
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I agree with these ideas. The issue most in Bitcoin have is unrealistic expectations of Bitcoin achieving global adoption way too fast. This is a 50-100 year process minimum.
agreed but the 50-100 year process will be much quicker imo. it takes 2-3 countries to properly establish a stratrgic reserve for bitcoin to reach escape velocity which isn’t even necessary. this is where gradually then suddenly theory comes from.
Most commodities trend towards infinity
What about when priced in Bitcoin?
I don’t think it’ll happen like that personally. Most countries don’t want to give up control of money and the ability to sell debt. They want to be able to self fund, print and censor. It’s a huge set of incentives to not adopt Bitcoin.
I can’t accurately predict the future and I could be wrong, but that’s how I see it.
If organic adoption continues on its current trajectory then there is still a decade or two at least until Bitcoin is a common global money / asset. And probably some decades after until it reaches full global saturation and ubiquity.
I’m stacking regardless and enjoying watching everything play out. Personally adoption already feels impressively fast but I think I have more realistic expectations than many in this space.
#whybitcoin101
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Agreed 👍🏻
Infinity in supply, as long as there's demand.
Except, you can’t be the hardest money mankind has ever know, if idiot developers can just change the code. What’s the answer to that?
