it depends. The faster it goes, the more violent and shitty for society.

Also the better for those who only care about NgU. Then again, NgU doesn't do you much good if you and your family wind up enslaved by some local warband, after multiple family member kidnappings and extortions, the police don't answer the phone (or maybe they are the ones doing the extortions), and having your wealth expropriated of course.

A slow collapse is best, imho. Gives everyone time to process what is happening and reallocate, so only the most stubborn dollar diehards are ruined.

For color on the fast collapse scenario, just look at history.

"When money dies" by adam furgeson is good.

https://en.wikipedia.org/wiki/The_World_of_Yesterday by stefan zweig may also be a good guide.

Also check out Berlin Diaries by christopher isherwood. This was the novel that inspired the musical Cabaret.

IMHO it will be a slow collapse. This basically looks like... what we are already currently experiencing. Give it another 12-15 years.

The slow collapse is sometimes called hyperbitcoinization, to distintuish it from hyperinflation. Hyperbitcoinization ain't that bad.

"Hyperbitcoinization will not disrupt the economy to nearly the same degree as hyperinflation. The currency is the instrument of the division of labor, and hyperinflation makes it unreliable and forces people to use worse alternatives. In a hyperbitcoinization event, people switch from a fundamentally inferior currency to a superior one, whereas in a hyperinflationary event people will only switch to a new currency once the old currency becomes worse than the next best alternative, such as gold or detergent. Hyperbitcoinization should be accompanied by a rapid improvement in productivity and wealth."

The unhappy path (hyperinflation) happens if society determines to oppress bitcoin by driving it underground and imposing capital controls and censorship, and other dystopian bullshit. You still get hyperbitcoinization eventually but it's a bit more grim along the way.