jerrybature_ on Nostr: GN, There are two reasons why hyperbitcoinization has not happened yet. 1) The trust ...
GN,
There are two reasons why hyperbitcoinization has not happened yet.
1) The trust in centralized powers/systems: the human brain is an incredible biological machine. It has the power to ride on autopilot. That is, once a belief/trust in an entity has been established, it gets reinforce over time to such a point that it becomes very difficult to erase that belief/trust from the brain's storage. It will take an enormous amount of energy over a certain period of time to erase such memory. The people of planet Earth are so used to centralized powers/systems over a very long period of time now, with such beliefs being transferred from one generation to the next. Prior to Bitcoin, decentralized systems were not popular. And now, with Bitcoin, decentralization is spreading gradually and with serious resistance from the slow adaptability of the human brain which is so used to centralized powers/systems. The brain is unconsciously pushing most people to seek for permission in order to use Bitcoin/bitcoin. If the people could easily erase their beliefs/trust in centralized governance, hyperbitcoinzation would have happen in less that 10 years.
2) Those who understand Bitcoin and are holding bitcoin mostly lack the opportunities to spend/transact directly in bitcoin: majority of the world's population are living and transacting under the fiat systems which is being forced on them and over time were so used to trusting in "authorities." Because of this trust and fear of the powers that be, most people won't accept bitcoin simply because the the powers that be does not "approve" bitcoin. This is especially seen in the developed countries. This is, therefore, a hedge against bitcoiners who may want to spend their money (bitcoin) directly without the need for a trusted third-party.
Hyperbitcoinization will surely happen but, probably, not anytime soon, possibly untill the fiat systems has gradually completed its suicidal mission, which is inevitable. I strongly believe, it will take a great deal of economic and financial pain from fiat to make the entire world to realize the true essence of Bitcoin/bitcoin simply because most people are too comfortable and too blind to see the negative effects of fiat money in their lives and the entire world at at large. This goes on to show that we, the bitcoiners, are still very early in this journey. Therefore, we must feel empowered to keep building infrastructures for a better future . Bitcoin is the best tool available!
There are two reasons why hyperbitcoinization has not happened yet.
1) The trust in centralized powers/systems: the human brain is an incredible biological machine. It has the power to ride on autopilot. That is, once a belief/trust in an entity has been established, it gets reinforce over time to such a point that it becomes very difficult to erase that belief/trust from the brain's storage. It will take an enormous amount of energy over a certain period of time to erase such memory. The people of planet Earth are so used to centralized powers/systems over a very long period of time now, with such beliefs being transferred from one generation to the next. Prior to Bitcoin, decentralized systems were not popular. And now, with Bitcoin, decentralization is spreading gradually and with serious resistance from the slow adaptability of the human brain which is so used to centralized powers/systems. The brain is unconsciously pushing most people to seek for permission in order to use Bitcoin/bitcoin. If the people could easily erase their beliefs/trust in centralized governance, hyperbitcoinzation would have happen in less that 10 years.
2) Those who understand Bitcoin and are holding bitcoin mostly lack the opportunities to spend/transact directly in bitcoin: majority of the world's population are living and transacting under the fiat systems which is being forced on them and over time were so used to trusting in "authorities." Because of this trust and fear of the powers that be, most people won't accept bitcoin simply because the the powers that be does not "approve" bitcoin. This is especially seen in the developed countries. This is, therefore, a hedge against bitcoiners who may want to spend their money (bitcoin) directly without the need for a trusted third-party.
Hyperbitcoinization will surely happen but, probably, not anytime soon, possibly untill the fiat systems has gradually completed its suicidal mission, which is inevitable. I strongly believe, it will take a great deal of economic and financial pain from fiat to make the entire world to realize the true essence of Bitcoin/bitcoin simply because most people are too comfortable and too blind to see the negative effects of fiat money in their lives and the entire world at at large. This goes on to show that we, the bitcoiners, are still very early in this journey. Therefore, we must feel empowered to keep building infrastructures for a better future . Bitcoin is the best tool available!