I’ve heard a lot of people say that Bitcoin will replace the existing monetary system, but this will take a long time (decades) to happen. I disagree.
When it becomes clear that something works better people catch on pretty quickly, especially in the internet era where information can reach everyone in a matter of seconds.
The existing monetary system is not strong. It is backed by nothing but trust, which has been lost.
Once Bitcoin appreciates against fiat currencies to a certain level I expect adoption to happen suddenly. It will become clear what is happening.
Bitcoin is the monetary system and a trust-less base layer with utility that we are yet to discover.
#bitcoin #money #trust
learnaboutbit / Learn About Bit
npub12h…d9cgq
2024-03-11 22:09:38
Author Public Key
npub12h2pk4fg6gp4erd22593as03ddmx8h9ed96xpdqm77m7rh3fp4dsrd9cgqPublished at
2024-03-11 22:09:38Event JSON
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"content": "I’ve heard a lot of people say that Bitcoin will replace the existing monetary system, but this will take a long time (decades) to happen. I disagree.\n\nWhen it becomes clear that something works better people catch on pretty quickly, especially in the internet era where information can reach everyone in a matter of seconds. \n\nThe existing monetary system is not strong. It is backed by nothing but trust, which has been lost. \n\nOnce Bitcoin appreciates against fiat currencies to a certain level I expect adoption to happen suddenly. It will become clear what is happening. \n\nBitcoin is the monetary system and a trust-less base layer with utility that we are yet to discover.\n\n#bitcoin #money #trust",
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