10 sats \ 0 replies \ @victorieeman 6 Feb 2023 \ on: Fiat Endgame bitcoin
If interested and had the time, I would put some study into historical changes of monetary systems. We recognize many of them as disasters combined with terrible inflation. But this hasn't always been the case. Some examples I can think of here and now:
*The change from barter trading to gold as cash
*The change from gold cash to banknote gold derivatives
*The change from banknotes to the Federal US dollar
*The goldbacked US dollar to the fiat debt backed dollar
*The EU countries changing their local currencies to the common Euro
And of course the disastrous hypder-dyper inflation crashes of the Zimbabwe dollar, the Deutsch Mark etc.
The bullet point examples, I think, however, show that some drastic changes can also occur without immediate/obvious societal crashes. Which is a good thing. And possibly a government fiat currency could do a soft change into Bitcoin as well. We just don't know until we have seen it, but maybe historical studies of the most similar thing might teach us something?
It's an interesting discussion to have :)