Bitcoin existence doesn’t require the end of fiat credit. It just makes the current paradigm prohibitively expensive by setting the risk free rate at 50%+ …
Fiat can coexist with bitcoin. To be competitive during the foreseeable future, 5-year US treasuries should be priced ~50% yield.
I suspect a true end to fiat is still many decades if not centuries in the future.
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How long did it take to phase out coal steam ships once oil was discovered?
How long did it take to phase out coal steam *warships* once oil was discovered?
