It seems like the world really needs to hit the fan for bitcoin to become the worlds reserve currency. I personally don't see it happening willingly / by "organic" adoption ufortunately. Do you? If so? Tell me why? I want to change my perspective, but thus far what I see makes me feel negative about that possibility.
I get all bullish and temporarily forget that our wining case implies a major collapse that will be possibly violent /deadly, send millions to poverty, catalyse the collapse of nations and a potentially catastrophic blow for western (human?) civilisation.
Im sure we will make it. Im sure it was inevitable as this was set in motion in the previous century, way before bitcoin was even possible.
Heck I hope everyone is pricing this in / taking it into consideration when making future plans.
No it doesn't. The world didn't need a crash for the steam engine to catch on. The world didn't need a crash for computers to happen. The world didn't need a crash for internet or the smartphone. It won't need one for Bitcoin. You're just a hateful doomer with low economic literacy, that's all.
Yeah but we dont pay or save in Steam Engines or Computers. We save in money, and if the money dissapears (for those who do not have BTC) then it means that your savings dissapear too. I dont imagine that process to happen smoothly.
Not necessarily. If you expect it to happen in the next 5 years then yeah shit needs to break but the two systems can run in parallel as Bitcoin slowly sucks energy from the current system.
https://m.stacker.news/6475
This is a good point and a VERY good gif for the occasion.
I am becoming an expert on the effective use of memes and gifs thanks to trying to keep up with my 13 year old. Ok, maybe not an expert but I am improving.
We're having a discussion about this right now. Your frame assumes bitcoin only wins by fiat dying rather than outcompeting it. You don't know that.
Thanks for participating! What I mean is that the collapse of fiat currencies will not happen soothly AT ALL and that most likely it will be a major geopolitical event with hectic (to be gentle) consequences.
What needs to crash is the fiat currencies. When people start to see the hyperinflation problem with their currency as it happens in some countries already, they start to look for solutions. Meanwhile, they are comfortable with the "normal" inflation.
If fiat currencies do crash (whith I certainly hope, but brace myself) it will be possibly a bloody affair.