alanbwt on Nostr: PSA: The USD supply needn’t 1,000X in order for hyperinflation / bitcoinization to ...
PSA: The USD supply needn’t 1,000X in order for hyperinflation / bitcoinization to occur.
All that’s required to trigger a mass exodus from dollars to Bitcoin is for faith in the dollar to be lost.
Faith in the dollar can be lost in a number of ways: Bank failures, though deflationary, wake people up to the perils of counterparty risk in fiat banking. CBDCs wake people up to the perils of loss of liberties in fiat currencies. The collapse of lesser fiat currencies wake people up to the eventual collapse of the dollar. Countries like El Salvador, and now China and Russia opting out of the dollar hegemony wake people up to the reality that the USD will not always be the global reserve currency. And, yes, rising prices via inflation also wake people up.
As they say in Zen, there’s more than one way up the mountain.
Tick tock. #Bitcoin
All that’s required to trigger a mass exodus from dollars to Bitcoin is for faith in the dollar to be lost.
Faith in the dollar can be lost in a number of ways: Bank failures, though deflationary, wake people up to the perils of counterparty risk in fiat banking. CBDCs wake people up to the perils of loss of liberties in fiat currencies. The collapse of lesser fiat currencies wake people up to the eventual collapse of the dollar. Countries like El Salvador, and now China and Russia opting out of the dollar hegemony wake people up to the reality that the USD will not always be the global reserve currency. And, yes, rising prices via inflation also wake people up.
As they say in Zen, there’s more than one way up the mountain.
Tick tock. #Bitcoin