I just assume bitcoin is going to continue to grow and continue to become more important, and it may very well cross a threshold of becoming the most important financial asset in the world, for all the reasons people make about it. But I still think that, even if hyperbitcoinization doesn’t happen — and I think there’s real reasons to believe it may not — that doesn’t mean bitcoin will fail. Or won’t be a force to be reckoned with in the future.

I think there’s a lot of people in this conversation, who would become incredibly dejected and depressed if they came to doubt that was a certain outcome. I think that’s the kind of thing that breeds political radicalism, and has the potential to become disconnected from reality in dangerous ways. To those people, and the people they influence.