The quest to de-monopolize currency has long been a central focus of libertarian strategy, with a particular emphasis on promoting gold and silver as viable alternatives. However, this endeavor has encountered significant obstacles, as it proves difficult to compete against a digital currency such as the dollar with a physical commodity. The costs associated with the latter present a formidable challenge. Thus, the success of metals as alternative currencies relies on the failure of fiat.

While it may be true that fiat currencies are prone to eventual collapse over the long term, waiting for this possibility is unacceptable given the substantial damage that central banks inflict upon the accumulation of capital. Merely advocating for the passage of an "Audit the Fed" bill, engulfing it in scandal, or calling for the "legalization of currency competition" overlooks the insights of public choice economics. Furthermore, it ignores the fact that digital fiat currencies have already triumphed over metals in the competition and would likely do so again. We require not another political solution to an economic problem, but rather a more competitive market currency. This is where Bitcoin enters the scene.

Bitcoin's low costs position it as the most competitive currency in the history of humanity. It is plausible that a currency with even lower costs is theoretically impossible to conceive.

The transition from metallic and fiat currencies to Bitcoin is gradually transpiring, moving from the early stages with "Innovators" to the subsequent phase of "Early Adopters."

This progression is expedited by the emergence of new intermediaries like River and Swan, which are reducing the costs associated with converting fiat into BTC. Simultaneously, Bitcoin's inflation has significantly slowed due to the block reward halvings.

Consequently, the total dollar value of all bitcoins in existence has now surpassed $540 billion, raising an intriguing question: Is the value of bitcoins merely a speculative bubble?

In reality, it is the price of fiat currencies (and the debts denominated in fiat) that constitutes the bubble destined to burst. The pertinent question lies in determining when the purchasing power of BTC will reach its peak. As the adoption rate of Bitcoin plateaus, the appreciation of BTC relative to consumer goods will decelerate, prompting those who have accumulated wealth to utilize their gains to acquire such goods.

Concurrently, fiat currencies will experience hyperinflationary turmoil, leading to a spike in real interest rates. High real interest rates will incentivize BTC hoarders to invest in productive assets and lend to borrowers who are liberated from fiat-denominated debts. Consequently, the purchasing power of BTC in terms of capital goods (i.e., interest rates) will decline, while their purchasing power for consumer goods will continue to ascend due to deflation fueled by enhanced productivity.

If the prospect of eliminating central banking intrigues you, I would recommend acquiring BTC and securely storing your funds on a

@COLDCARDwallet