I’ve thought about it this. Probably the best counterargument is just that bitcoin is still too small to matter to fiat inflation/deflation/whatever. We’re still the fly on the elephant’s back.

This will change, and when it does, Saif’s smooth transition seems very plausible, and hopeful too. It’s contra “the system must collapse” which is a terrible message.

The idea that bitcoin puts competitive pressure on fiat to “get more hard” makes a ton of sense.