The people who are being most hurt by the fiat system don’t have enough money to buy Bitcoin, such that it meaningfully punishes the fiat system in protest.
The people who most benefit from the fia...
You nailed the wealthy. The poor is more fundamental
They typically lack the discipline to save, even if they do have enough income.
Both cohorts typically lack the education and willingness to go deep down the rabbit hole in order to project into the future.
The masses will not adopt, it will be forced upon them.
This is how it has always been, with all money. First, Gresham's Law is at work to transfer value into the new system by those who DO have both discipline and education. This also accelerates the debasement of the current fiat. Then the fiat becomes too difficult to work with as volatility shifts from the new system to thr old system, due to hyperinflation. This is when the new system starts to dominate as a method of exchange after acting as a store of value. This is when the wealthy are forced in. This shifts the unit of account from the old system to the new system, and then the poor are forced in.
Plenty of examples of this throughout history.
People can complain about the speed, adoption, whatever. But its all playing out exactly as it has before.
They typically lack the discipline to save, even if they do have enough income.
Both cohorts typically lack the education and willingness to go deep down the rabbit hole in order to project into the future.
The masses will not adopt, it will be forced upon them.
This is how it has always been, with all money. First, Gresham's Law is at work to transfer value into the new system by those who DO have both discipline and education. This also accelerates the debasement of the current fiat. Then the fiat becomes too difficult to work with as volatility shifts from the new system to thr old system, due to hyperinflation. This is when the new system starts to dominate as a method of exchange after acting as a store of value. This is when the wealthy are forced in. This shifts the unit of account from the old system to the new system, and then the poor are forced in.
Plenty of examples of this throughout history.
People can complain about the speed, adoption, whatever. But its all playing out exactly as it has before.
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