I believe there is a reason why some "sayings" seem to stick around throughout time and others we simply mindhole....and this is one that I often come back to when I am pushing something to change.
It strikes me now that there are a whole lot of Bitcoiners out there that are thinking they can't wait for you Bitcoin's number to go up and while I understand that desire/thought....I also find myself really wanting to delay that inevitability as long possible....and why I think we "Bitcoiners" should be doing/building everything we possibly can to bring that inevitability forward in as much of an orderly way as we can...
I think about countries where the "value" in FIAT terms has gone exponential and then I think how that would play out with US dollar....and that is simply not a pretty picture. I mean if the dollar hyperinflates - the worlds valuables - also hyperinflates?? There would be massive poverty right (I mean so few people hold any Bitcoin and if the most stable measure of value is Bitcoin - then there would be a massive amount of people on the planet that simply would simply be impoverished....overnight)???
Sure there is some arbitrage between the value of Bitcoin around the world but for the most part its "number" is pegged to the reserve currency of the world right now....
Just thinking about countries that have seen hyperinflation events in the past and how utterly destructive they were....and hoping that more and more Bitcoiners start focusing on improving all the systems of the world by overwriting the FIAT "code base" of those systems with Bitcoins Code....this is how we weather the storms ahead in a more productive, valuable manner.... (the path many are currently on is one that I am afraid leads to unimaginable suffering for millions if not billions of us)
There are two very different to-the-Moon scenarios
I believe bitcoiners are generally wishing for #2, where people adopt bitcoin and ditch fiat.
Really?
Then why do I still see the "$" symbol at all of the Bitcoin conferences? Even Bitcoiners constantly use the words, "$x,xxx amount worth of Bitcoin", instead of using Sats as their base terminology?
Why are Bitcoiners cheering and advertising fiat credit/debit cards?
Why are we almost two decades into this "revolution", and there is still no credible threat to the fiat system because of Bitcoin's existence?
The Bitcoin narratives of the past decade are starting to sound silly. It has become an "investment" in the eyes of 99% of the Bitcoin community, and for 100% of the normies.
Bitcoiners generally claim to believe the dollar has been hyper-inflated, and yet they continue to use it, happily. It Bitcoiners aren't making the switch today, what makes you think they ever will?
Bitcoin is failing, and not even hyper-inflation in fiat-land will be able to save it at this point.
I thought bitcoiners were supposed to have low time preference. Why would I expect a revolution of this magnitude to take less than 20 years?
Adoption and use are clearly growing, not shrinking. "Making the switch" doesn't have to be a complete binary. There's plenty of room to do more business in bitcoin.
Growing interest in using bitcoin for SoV is a very odd sign of failure, since part of the pitch is that it's the best savings technology ever.
I agree with your thoughts. And I think we're already at that point (where many people have been impoverished because of fiat currency) regardless of whether they're using dollars (the world's reserve currency). Obviously, I know that in other countries the erosion of purchasing power has been more devastating; I'm from Venezuela, and I understand that perfectly. But I was only able to reach that understanding after studying Bitcoin and fiat money, something most people don't do (they're incapable of studying the money they carry in their pockets or bank accounts). On the other hand, I think like you; I want and hope that Bitcoin stays at its current levels so I can accumulate more, even though I know its rise is inevitable. And I hope most people remain ignorant because otherwise, its value will increase, and I'll get fewer sats for every dollar I work so hard for.
yup.