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18 sats \ 1 reply \ @Scoresby 1 Apr 2023 \ on: We don’t need Hyperbitcoinization bitcoin
I really like how you frame this (we are already hyperbitcoinized). The idea that hyperbitcoinization is the world where you have the option to use bitcoin and that is enough is very compelling to me.
One pushback though to your thought experiment is this: if we were suddenly living beneath the iron heel of Tonald Drump or Sosef Jtalin, people will only trade for what they believe has value, (at least at first) I don't think there are enough people in the world who think bitcoin has value to make an economy work.
Bitcoin can resist a dictator, but it can't resist an uninterested market. If we can't find a person willing to trade for it, it won't help us achieve the freedom we all are hoping for--even if nobody can stop us from sending/receiving.
All the meetups in the world are still too small a number. I'm sure an authoritarian regime could help bitcoin grow--people using it because its the only money you can use to escape controls--but if this happened tomorrow, you simply couldn't acquire the vast majority of the necessities of daily life.
We may have the freedom to send and receive bitcoin however we like, but the rest of the world has the freedom to completely ignore bitcoin. Until more people make the choice to see bitcoin as valuable, I don't think our freedom to use bitcoin buys us the full promise of its a bitcoin economy.
And this maybe is what people mean when they dream of hyperbitcoinization: a world where you can spend bitcoin in a lot more places than now.
(I really do like how you frame this, though. Its snappy and compelling. And for whatever it's worth, it didnt feel to me like AI wrote it.)
One pushback though to your thought experiment is this: if we were suddenly living beneath the iron heel of Tonald Drump or Sosef Jtalin, people will only trade for what they believe has value, (at least at first) I don't think there are enough people in the world who think bitcoin has value to make an economy work.
Bitcoin can resist a dictator, but it can't resist an uninterested market. If we can't find a person willing to trade for it, it won't help us achieve the freedom we all are hoping for--even if nobody can stop us from sending/receiving.
The way I see it there always is someone interested! I mentioned shady people (like drug dealers etc) and political active people. But there are also generally freedom oriented people like current Bitcoiners. There are also probably other countries abroad with demand/supply.
It could even be as simple as someone wanting wanting to buy s*xtoys anonymously. Remember that only 1% in a population of millions already is thousands of people.
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