“Gradually then Suddenly….”

The chant of many of a hopeful Bitcoiner pertains to the idea that the world will transition to a scarce, permissionless, freedom-enabling money. When a critical mass of Bitcoin users is reached, everyone will need to get their hands on some of the scarcest money in the world and say “peace out” to their fiat gambling chips.

But what does the transition look like?

The Smooth Transition Scenario

Maybe “Gradually then Suddenly” is wrong.

There are some Bitcoiners that hypothesize that a gradual step by step transition from the fiat money standard to the Bitcoin standard is possible.

In this likely more peaceful scenario, Bitcoin has a place side by side with fiat currency for many years, perhaps even decades. Bitcoin slowly begins to adapt and grow with the growth curve steadying out over longer periods of time.

The All Out War

Any student of history will aptly point out that the fall of great civilizations often came along with a fall out of the national currency.

As these great powers became unsustainable they inevitably began debasing their currency in some form to pay for their unbridled gluttony on the national level.

We live in a connected world thriving on the global standard of the US dollar. What does a modern day crumbling empire look like? Time will tell.

Hope

As a Bitcoiner, I think you can be hopeful.

Hopeful countries adopt policy based on sound money principles.

Hopeful leaders promote education, infrastructure, and free markets.

Hopeful debt burdens don’t end in breadlines and bombs, but rather quick balance sheet pivots and honest trade relationships.

What do you think the transition will be like?