Fiat Endgame \ stacker news ~bitcoin

I have been thinking a lot lately about the mounting signs we are seeing of things "breaking down" which I believe is a symptom of being in the endgame phase for fiat currencies. Bearing in mind it could potentially still take decades for it all to play out, it is undeniable we have seen a fracturing of incentive structures that drive production and progress and every day more people are waking up to intuit that the social contract is broken.

While most don't understand what is truly going on and project what they are intuiting onto a myriad of different things, as Bitcoiners we know the money is broken. All things that are fracturing are in some way a consequence of that. Fueled by the information age and social media it feels like we are on the precipice of things really going haywire.

I was thinking of detailing these ideas into one written piece focusing on, in no specific order, the following tenents:

A rush to the exits- rampant speculation, moving out on the risk curve, no incentive to save and produce but instead to secure your bag asap.
Culture of Entitlement- whether it is expecting to be paid more than the value produced at a job or expecting the government to take care of them, the demand for people to be given things instead of earning them is growing.
Political/Ideological Divisions- self explanatory. Including the politicization of everything including education and science.
Erosion of institutions- self explanatory and would explore the growing perspective that once trusted institutions are at best incompetent and at worst malicious.
Managerial Class(Administrative Class) vs Producer Class- clash for power, relevance, wealth between the producing class (people paid to do actual stuff, and people creating stuff, innovating) and the managerial class (non producers set out to manage society or people)
Fear and Negativity- Exacerbated by the media and politicians in an effort to retain their grip on power, people more than ever seem fearful, anxious and depressed about many things.

These are the things I am focusing on. All are intertwined in some way but I think there is enough to discuss each of them on their own with some overlap.

What are your thoughts on these 6? Am I missing anything major? Any ideas that would be better to discuss?

Let me know your thoughts. Sats for all productive feedback

Cheers, GR

10 sats \ 0 replies \ @victorieeman 6 Feb 2023

If interested and had the time, I would put some study into historical changes of monetary systems. We recognize many of them as disasters combined with terrible inflation. But this hasn't always been the case. Some examples I can think of here and now:

*The change from barter trading to gold as cash *The change from gold cash to banknote gold derivatives *The change from banknotes to the Federal US dollar *The goldbacked US dollar to the fiat debt backed dollar *The EU countries changing their local currencies to the common Euro

And of course the disastrous hypder-dyper inflation crashes of the Zimbabwe dollar, the Deutsch Mark etc.

The bullet point examples, I think, however, show that some drastic changes can also occur without immediate/obvious societal crashes. Which is a good thing. And possibly a government fiat currency could do a soft change into Bitcoin as well. We just don't know until we have seen it, but maybe historical studies of the most similar thing might teach us something?

It's an interesting discussion to have :)