Prior to bitcoin, gold was the most sound, hard money.
99.99% of humans abandoned gold for fiat.
Bitcoin is not inevitable.
Discussion
I still feel better about gold (and a few other metals) than anything else. I’m highly skeptical of all the talk that there will be a BRICS currency backed by gold.
Except gold was unworkable for international commerce, final settlement too slow and expensive.
#Gold was *the most* hard and sound money available and people didn’t exactly willfully abandon it, their overlords did
#Bitcoin is the hardest and soundest possible
I think this matters
There's been some #corruption of the #protocol and code base that has to be corrected (closed). So-called #ordinals etc. Then the #code base and protocol locked back down..🧡👑🗽
#Bitcoin #Nostr #AI💎
As far as i’m concerned, ordinal inscriptions is just an imaginary system invented to appeal to the degenerate jpeggers of the crYpTo sPacE so i’m not worried about them in the long run as a vast majority of them will inevitably end up rekt
In the meantime it seems like mining competition is thriving and they’re taking shitcoiners’ sats slow and steady
State intervention removed the gold standard from the people. The state had long been an enemy of the gold standard before 1971 because it limited their ability to manipulate the economy.
The US government made it illegal to own gold during the Great Depression, for instance.
In Bitcoin's relatively short life, even China has tried (and failed) to ban it like five times now.
Did China fail? The utilization of bitcoin in China is unknown, but I suspect it’s under 2%.
In fact, less than 2% of people in the US run nodes.
This is actually provable.
Let’s face it, nobody uses bitcoin.
A minority of people use Bitcoin worldwide right now.
No nation on earth was at the time using fiat money during the collapse of the Bretton Woods agreement.
The only thing we know for certain regarding the future is that the value of fiat will continue to fall due to inflation and as this continues, demand for safe harbor assets is likely to increase.
Since holding gold without a custodian is impractical for most, and trading with it even more so, Bitcoin is the obvious option.
Judging by what's happening in the market right now (e.g. the ETF applications) even investment banks whose entire business relies on fiat credit creation understand the inevitability of Bitcoin.