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What will really happen is that state-issued currencies will not completely disappear.

They will become hyperinflationary, and that will be the new normal. They will still be used to pay taxes and denominate public debt, but they will be deeply inflationary due to the State’s financial situation:

No State has the ability to pay its infinite debts to banks and its own people without turning on the printing press (and in the process destroying its currency, in which the debt is denominated, thereby reducing the real value of the debt).

They will be far, far less relevant, but at least for the next 50 years they will not cease to exist.

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Discussion

Ed Hubstead 4mo ago

Hi. I see you have a pretty good following and you're someone of some prominence on NOSTR. I've not picked your account for any particular reason, but I wanted to reply to this message because it relates to what I have in mind.

I've got a number of points I want to make, and I think a very good strategic plan for how to accelerate the adoption of Bitcoin globally. So I'm going to go through a number of points one after the other. If you're interested and reply, maybe you can help me figure out—or we can figure out—a way to get this idea out on NOSTR, because I think it helps both Bitcoin and NOSTR.

So, my first point would be that Bitcoin Maxis do not actually help Bitcoin, because the premise that Bitcoin is unique and has unique characteristics would make Bitcoin unique in the history of all technology ever—which is a fallacy. I don't think this is a good argument to push, because anybody can see that.

Now, there are things unique about Bitcoin in the sense that it’s got first-mover advantage, the scale of the network, its age, stability, and many other factors. There are interesting points like that. But this whole “Bitcoin Maxi,” “Bitcoin is special,” “It's unique,” “There’s nothing else like it,” followed by complex arguments—does not help the Bitcoin brand.

Do you agree with that, firstly?