Subnostr

How hyperbitcoinization will play out:

1. Rich people will lose trust in The Fed, bonds, real estate, gold and USD

2. They’ll find out what #bitcoin is and get FOMO

3. They’ll buy the remaining 2M BTCs on exchanges. Normies will also sell their coins for high prices to them thinking they can buy back cheaper later

4. Central Banks will print fiat to buy it which will create hyperinflation

5. After USD gets hyperinflation debt will be worthless, many businesses will go broke. The world will clean out everything that is not profitable. We’ll start from clean sheets with Satoshis as the new currency

These steps can last for months or up to three years. Don’t sell your coins to them.

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Discussion

ĐaꝞꭵꞧuꞩ.₿ 🟠 2y ago

But, before all that, the canary in the coal mine is gonna be BTC dominance skyrocketing back to basically 100%.

BTC won't destroy tradfi before destroying defi.

Mr⚡2MB 🐇🏴‍☠️ 2y ago

Interesting view.

Why "up to three years"?

James A Lewis 2y ago

Maybe just sell a few sats to settle debts like mortgage and student loans, that way they can't come after you once the currency switch happens with a new "currency equivalency act of 2029" by congress, allowing businesses to convert USD debts into BTC. That will for sure happen.

"These [sats] billionaires did no work for their wealth and just sat on their loans from before the crash; it is not right for them to be able to settle their debts for mere pennies-worth investments they made just before the crash. So, I am calling on congress to write a bill allowing for mortgage and student debt settlement in Bitcoin directly only after converting in 2025 equivalency." -- Bernie Sanders or some other commie