its a logical jump from "integrating with the legacy system
to
"replacing the legacy system"
youll notice guys like Booth treat the idea of "integrate then replace" as some mechanical, or predetermined thing.
but gloss over the details.
its a logical jump from "integrating with the legacy system
to
"replacing the legacy system"
youll notice guys like Booth treat the idea of "integrate then replace" as some mechanical, or predetermined thing.
but gloss over the details.
But you can't control it either way. It isnt like you can ban a bank or Wall Street from the Bitcoin network. That's all I mean when I say integrate (definitions matter, that's on me). I don't know what he means. It gets integrated based on how people choose to use it. When I say replace, I mean some people will eventually see no need for some of those legacy things like banks. I started 50/50 gold and Bitcoin, so I needed banks. When I went 100 Bitcojn, it occurred to me that Bitcoin does all of what gold and the bank did in one stack. So the bank is getting close to useless for me other than the fact that I still need fiat services for certain bills and things. But even that line is being blurred by companies like Strike. Yes, they use a bank, but it's one more step removed from me. I can imagine a world where people either don't use banks or use Bitcoin banks if they don't want to self-custody.
Regardless, we literally can't enforce our goals or vision, so how much does it matter? All we can do is use the tools we value, collaborate, and talk like this.
In my own life, I slowly integrated bitcoin into my fiat financial setup, and over time it's replaced 90% of those fiat systems. And that's just within 5 years. It's a lot easier today than even five years ago for people to hit the ground running and jump straight to 90%, in my opinion. And I think that's because people dared to integrate with the legacy system. Ideally, we get to 100% independence. Circular economies, in my opinion, are how we get there. I've already replaced multiple products with those made by people who make better products and accept Bitcoin. We can't just go from fiat world to Bitcoin world in a single leap. The two will mix for a time, but I think it's getting better.