One place I’ve repeatedly gotten stuck, is on the fact that there will not be enough UTXOs for every person on earth to own even one.

Layer-2 and 3 (and 4, 5, etc) solutions are the only ways to “reach” everyone, and some of those implementations will invariably involve trust, fractional reserve banking, and custodial third parties.

Humans are amazing, but we’re also short-term opportunists by default, and there will always be “fiat” pursuits. At least until we are all collectively so enlightened that the need for a medium of exchange ceases to exist (lol, different rabbit hole).

Real, actual bitcoin won’t (can’t) be the way that everyone manages their daily transactions — even in a “post-hyper-bitcoinized” world. It’s not possible (at least as I understand it, based on the minimum UTXO size for a transaction).

But also, I think that’s okay…

I think it will be “enough” for Bitcoin to be recognized and implemented as a global monetary base layer. A transparent and free market for money can force participants (banks) to be transparent about risk tradeoffs. It can force governments to only spend tax revenue on things the citizens actually want and approve of, at risk of being “busted” and voted out. It can still give every user the ability to save in a money (or a monetary “layer” atop a consistent base) that can’t be devalued — and when a bank or government tries to devalue it, the citizen retains their permissionless freedom, to chose a better custodian.

I don’t think every global citizen needs to hold Bitcoin for this to work. Bitcoin just needs to work.