Had a sense of optimism while returning from my run this morning. The collapse of the fiat system won’t in and of itself be that bad. Certainly not as bad as in past collapses when people had no viable way to transact as a result.

People will still grow food and truck it into supermarkets. People will still build homes and maintain the electric grid. The paper (or digital) currency doesn’t change the underlying supply and demand for things of value.

The only thing that will change is the ledger. If there were no viable ledger, that would be a big problem, as there would be no incentive for people to work. But luckily there is a useful alternative ledger already up and running, that properly incentivized people will learn to use very quickly.

The real risk right now is the lengths to which those in charge of the fiat ledger will go as it’s collapsing. But even then, they will be incentivized to have *some* caution before it collapses, and once it’s too far gone, they’ll try to do insane things but find they lack the power.

There’s only a tiny window where they might do something truly crazy while they still have the power, and I think we’re in it now. But it’s closing rapidly.

They have already lost, and mercifully they won’t know it until their power is almost gone.