Will you be okay if hyperbitcoinization doesn't happen for a thousand years?
How about two thousand?
The Christians have been waiting for their Second Coming for almost that long.
I am frequently struck by the similarities between bitcoin and religion. Most recently, I realized that many of us are expecting hyperbitconization on a snappy timeline. Like, it's okay if it doesn't happen next year, but goddammit if I'm still using fiat in 10 years.
And if you have ever had the dubious pleasure of reading the letters of the sainted Paul and friends, you get the sense that a lot of the early Christians expected a similar timeline for the return of the recently dead and risen-again Jesus Christ.1
To be fair, some transitions are pretty fast: hyper-internet-ization happend in a flash; cars replaced horses in a couple decades; electrification took a little longer, but still less than a human lifespan.2
So what's to say ours won't be like that? Maybe it will. but I'm more interested in what we're going to do in the mean time--because maybe it won't.
How would you change your behavior if you were certain hyperbitcoinization wasn't going to happen this century?
Bitcoin is a tool. It has some amazing properties:
- It's internet-native money: you can send it anywhere on earth at anytime and it moves really fast.
- It's something you can truly own.
- It's transparent and you can know exactly what's happening with it.
- It doesn't require anyone else's permission.
These properties are useful today. You don't have to wait to take advantage of them. Here's a few examples of things you can do with bitcoin:
- Save up a pile because your fiat currency might devalue faster than expected.
- Learn how to coinjoin because your government might outlaw what you want to buy or sell.
- Spend it at a small-business because middle-men are getting more powerful.
- Get used to earning it because your bank might close your accounts.
The Christians have changed the world while they've been waiting for the second coming. No reason we can't do the same while we wait for hyperbitcoinization. Who knows how long we might have?
Footnotes
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To list off a few instances: Let your reasonableness be known to everyone. The Lord is at hand ( (Philippians 4:5)), You also, be patient. Establish your hearts, for the coming of the Lord is at hand. (James 5:8), And he said to me, “Do not seal up the words of the prophecy of this book, for the time is near. (Revelations 22:10) The end of all things is at hand. (1 Peter 4:7) ↩
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Not interested in nit-picking the idea that people were experimenting with electricity for centuries before electrificaiton of households took off in the 20th Century. Technology builds on past work, but I'm talking about once a product appears, how fast does it take to spread. ↩