The Roads To Hyperbitcoinization: Describing The ‘Transition Agents’ Bringing Us Financial Freedom

By Bitcoin Magasin - 2 år sedan - Lästid: 22 minuter
Fre 14 jan 2022 11:00

The Roads To Hyperbitcoinization: Describing The ‘Transition Agents’ Bringing Us Financial Freedom

These bottom-up “transition agents,” from private business to the freedom ladder, will be what drives us all to hyperbitcoinisation.

Denna artikel är den andra delen i en serie where we outline the views and predictions made by the Bitcoin community concerning the prospect of hyperbitcoinization. In our analysis, we highlight "transition agents": main players, groups of players or institutions that could accelerate the transition to a Bitcoin world. For each topic, we base our arguments on the references collected, and if possible, present data that aims to assess the probability of this outcome.

Den första artikeln described top-down scenarios initiated by institutional agents or governments whose influence is expected to trickle down to a wider audience. We identified monetary inflation and the rollout of central bank digital currencies (CBDCs) as probable scenarios initiated by central banks, while bitcoin hoarding, a rise in cross-border payments in bitcoin, bitcoin as a legal tender and even the advent of a hash war were identified as scenarios likely to induce government acceptance of Bitcoin. In view of the recent pronouncement by El Salvador, it appears that political agendas in South America are in a state of flux, in particular in countries with national elections scheduled for 2021 and 2022.

Den här andra artikeln syftar till förståelse för initiativ av typen bottom-up som genomförs av företag, samhällen och individer.

Bottom-Up-scenarier

We identified several notable hyperbitcoinization scenarios that emanate from two large groups of actors. The first group represents private-sphere-led initiatives brought together by established firms and startups. The second group is composed of grassroots initiatives mostly impulsed by the Bitcoin community whose main purpose is to educate and help new users to be onboarded. The article begins with a discussion of the initiatives driven by these two groups before turning to an examination of emerging individual behaviors. In this article, we have followed the principle of metodisk individualism, välkänd inom den österrikiska ekonomiskolan, som består i att förklara storskaliga sociala fenomen utifrån subjektiva individuella handlingar och motiv.

Privat sfär

Figure one depicts scenarios initiated by private actors that could — intentionally or unintentionally — set off a chain of events driving to hyperbitcoinisation.

Affärsadoption

Sedan starten Bitcoin has demonstrated that it offers a wide variety of benefits to users. Its value proposition as a safe haven for individuals is without question one of its key enduring berättelser. In August 2020, the world was surprised when MicroStrategy (MSTR), a NASDAQ-listed public technology company, announced that it was converting part of its cash reserves into bitcoin. Figure two depicts publicly-traded companies that reported owning bitcoin on their balance sheets or have converted a fraction of their cash reserves to bitcoin över tid.

Hittills kan vi dela upp denna trend i fyra distinkta områden:

Since the MicroStrategy announcement, many other companies have started to display an interest in Bitcoin, and we can expect to see more of these kinds of initiatives appearing over the coming months once decision-makers have weighed their choices.

If hyperbitcoinization comes to fruition, the revenues, costs, profits and valuations of all companies could be accounted for in bitcoin (Mimesis Capital and Burnett), and most valuable companies would be the ones holding the largest chunks of bitcoin på deras balansräkning.

Privat mynt

När Meta (tidigare Facebook) meddelade 2019 att de skulle lansera en ny digital valuta, diem (ursprungligen kallad "Vågen"), fick både regeringar och finansinstitutioner att bli avvaktande. Diems stabila värde skulle härledas från en korg med fiat-valutor (US-dollar, euro, japanska yen, brittiska pund och singaporeanska dollar) som skulle göra det möjligt för alla Facebook-användare att skicka pengar lika enkelt och intuitivt som att skicka ett meddelande.

Även om det var en tilltalande idé på många sätt, väcktes farhågor på vissa håll om att lita på ett företag som matar på användardata. Vissa fruktade att Diem skulle förkroppsliga det värsta av pengar och datasekretesspraxis. On the other hand, the launch of a private digital currency like diem may serve to familiarize large numbers of users with this emerging technology and thereby act as an on-ramp to broader Bitcoin adoption. As users get acquainted with digital currencies, they will develop an understanding of bitcoin as a scarce, censorship-resistant and decentralized digital money.

10x faktor

Bitcoin anses ofta vara en bättre form av pengar eftersom det kombinerar betydande förbättringar när det gäller portabilitet, delbarhet eller fungibilitet jämfört med både tidigare och nuvarande former av pengar, tillsammans med radikala störningar när det gäller motstånd mot censur och fast tillgång. En aspekt som fortfarande är underutforskad är transaktionskostnader för ekonomin.

Genom århundradena har människor samarbetat för att minimera transaktionskostnaderna och producera mer effektivt det de inte kan producera individuellt. De teori om företaget av Ronald Coase beskriver förhållandet mellan interna och externa kostnader. 

När ett företags externa transaktionskostnader är högre än dess interna transaktionskostnader kommer företaget att växa. Om de externa transaktionskostnaderna är lägre än de interna transaktionskostnaderna kommer företaget att minska genom till exempel outsourcing.

Applying this theory to the banking sector, we can project that the Bitcoin protocol is likely to capture a significant portion of the banking industry value proposition, and it is not hard to imagine that it could probably capture it entirely once the Bitcoin stack becomes a more tangible reality (see figure three). Over time, we can expect the value created on top of the Bitcoin stack to first capture the value of the financial industry, and then surpass it.

If the transaction costs incurred by Bitcoin users are lower than transactions enabled by conventional payments rails, demand will shift to the cheaper channel. Following Brexit, Visa och Mastercard ökade sina förmedlingsavgifter med nästan 1 %, vilket pressade handlarnas resultat ytterligare. Detta har också inträffat i Colombia, där köpmän slutade använda betal- och kreditkort för att slippa de alltför höga avgifterna.

På andra håll kan handlare som vill minska bytes- och svepavgifterna också överväga andra betalningsalternativ som Lightning Network som ett sätt att minska kostnaderna. Betaltjänstleverantörer riskerar att gå in i en dödsspiral initierad av en krympande kundbas som sätter press på vinstmarginalerna och i slutändan gör deras tjänster mindre konkurrenskraftiga. I samband med ökande efterlevnadskostnader inom bank- och betalningsbranschen kan sannolikheten för detta scenario inte ignoreras.

Transaction costs represent just one of several key aspects in the battle between established companies and Bitcoin-native services. In terms of remittances, in a recent research article, Bitrefill found that bekvämlighet och snabbhet var lika viktiga – om inte mer så – än kostnaden för vissa kundsegment. När de tittade på den sofistikerade processen att skicka remitteringar i Nigeria, fastställde de att hela processen skulle reduceras till 20 till 30 minuter från de flera dagar det vanligtvis tar att skicka konventionella kontantbaserade remitteringar. Även om 30 minuter låter som en lång och smärtsam upplevelse i dagens finansvärld, representerar det en tiofaldig vinst jämfört med kontantbaserade remitteringar.

Even if we could argue that Bitcoin doesn't exhibit yet the same number of transactions as large payment service providers, the payment infrastructure has grown at a rapid pace to the point of surpassing PayPal in terms of transaktionsvolym år 2021 och att presentera ett lönsamt alternativ till befintliga betalningsskenor (se figur fyra).

This adoption is illustrated by the increasing number of Bitcoin transactions observed in Nigeria. According to Bernard Parah, CEO of Bitnob, the transaction volume observed in Nigeria is driven primarily by businesses and commerce. Domestic controls on capital imposed by the Nigerian government considerably limit the capacities of individuals and companies to trade internationally. Lacking access to U.S. dollars, a mechanical company wanting to buy spare parts from China, for example, would not be able to find a seller because no one would accept the naira as a form of payment. The use of Bitcoin — either directly or through a third party who can pay a prospective seller in yuan — creates a credible alternative means of payment that thereby opens access to the global marketplace for our Nigerian mechanical company.

Dessa tiofaldiga exempel belyser transaktionskostnadernas roll, men detta är inte för att bagatellisera hur ekosystemstarter också behöver vara uppmärksamma på transaktionernas tillförlitlighet och den övergripande användarupplevelsen, särskilt när det gäller självvårdstjänster som skiljer sig från förvaringstjänster och deras introduktionsprocesser som dikteras av reglering och efterlevnad.

Bredare allmänhetens uppmärksamhet

Long seen as the ultimate safe haven in the crypto world, bitcoin is still finding its way as a medium of exchange.

Medan, i teorin, valar och ursprungliga gangsters (OGs) have had enough time to accumulate significant portions of bitcoin, the purchasing capacity of newcomers is limited by current price. The accumulation of satoshis is therefore the only option for those wishing to become familiar with this new asset class. Programmed regular purchases such as dollar-cost averaging (DCA) or loyalty programs offering cashbacks in satoshis are two options for earning bitcoin that are gaining in popularity.

The progressive integration of Bitcoin services into social networking and e-commerce platforms — or even games for which frequent microtransactions are familiar experience — could have the potential to onboard a large, digitally-savvy customer base in a short period of time.

Big tech companies already offer services to several hundred million or even billions of people worldwide (figure five). If any of these companies were to start accepting bitcoin as a means of payment, this would immediately trigger interest in the technology from a population that had little to no prior exposure to cryptocurrencies. Twitter’s announcement that it had developed a Lightning Network tippfunktion som skulle hjälpa människor att skicka pengar friktionsfritt är illustrativt för hur stora sociala medieföretag kan utnyttja räckvidden för sina nätverk.

E-commerce companies could also play a major role in spreading Bitcoin använda. Som Tim Draper påpekade, konsumenter har redan köpt produkter indirekt med kryptovalutor i flera år med köp av kuponger och presentkort som kan lösas in på e-handelsplattformar som representerar det största antalet betalningar (figur sex).

A Rakuten case erbjuder en analogi av hur snabbt en stor e-handelsaktör kan skala upp en ny betalningsteknik genom sin användarbas. Genom att tillåta kunder att betala med kreditkort, och gradvis fånga betalningar som görs utanför deras egna plattformar, har Rakuten med tiden blivit en av de största kreditkortsutgivarna i Japan.

Finansvärlden

Under det senaste årtiondet, Bitcoiners have regularly hypothesized how events initiated within the financial industry might accelerate the visibility of Bitcoin, such as the introduction of exchange-traded funds (ETF) i USA, eller hur skapandet av tydligare regler kan locka trillioner dollar from institutional investors. Even though more sophisticated financial products will likely assist in the wider adoption of Bitcoin and increase prices, actions taken by financial actors have not been particularly associated with the prospect of hyperbitcoinisation.

Men El Salvadors president Nayib Bukele meddelande att utfärda en Bitcoin bond, at the end of Bitcoin week in El Salvador, once again caught many observers by surprise. The Bitcoin bond — also called the Volcano bond — is a $1 billion tokenized bond that will be used to finance the construction of the first Bitcoin city and infrastructure in the Central American country. The Bitcoin bond offers flera störningar i jämförelse med traditionella obligationsmarknader:

The long-term reverberations for El Salvador are promising. Not only does this initiative provide for the construction of the geothermal energy infrastructure needed to power an entire new city, but it could also create a surplus of green energy that could be exported to neighboring countries. Most importantly, the Bitcoin strategy designed by the El Salvadoran government could attract the kind of global investment and knowledge workers that would help establish long-term prosperity in the region. By showing the rest of the world its openness to business and capital influx, El Salvador could replicate the success of the Asiatiska tigrar på 1960-talet.

Smakämnen Bitcoin Community

Tillväxten av Bitcoin network is based in a strong community committed to the idea of a P2P electronic cash system. Orphaned since the disappearance of its creator Satoshi Nakamoto, the Bitcoin ecosystem continues to play a major role in spreading his ideas. By supporting technological developments and their diffusion, the Bitcoin community undergirds the process of technological familiarization within the public and private spheres addressed in this series of articles.

Denna brokiga internationella gemenskap av entusiaster med smeknamnet "cyberbålgetingar” encompasses miners, node holders, investors, speculators, analysts, entrepreneurs, journalists, influencers, OSS contributors and developers who devote considerable time and energy to educate new users and contribute, defend and support Bitcoin.

The actors described in the following section are representative of this community of cyber hornets, and contribute to the global dissemination of Bitcoin teknik.

påverkare

Influencers represent a group of thinkers, investors and entrepreneurs who have significant media coverage and habitually voice their opinions on Bitcoin. Bitcoin detractors regularly criticize the technology on both social and traditional media to misskreditera influencers. Others, like Michael Saylor and Jack Dorsey, who understood the impact Bitcoin will have on their companies, frequently praise its invention and are joined in their praise by global företagsledare. It may be difficult to quantify the long-term effects that influencers have on uptake of Bitcoin technologies, but debates around these new technologies help normalize them in the eyes and ears of the wider public.

På kort sikt kan dock denna typ av marknadsföring också påverka allmänhetens uppfattning negativt, vilket vi såg i kölvattnet av Elon Musks inkonsekventa meddelanden i sociala medier. Efter en serie av tweets där teknikentreprenören riktade in sig på energiförbrukningsmönstren för bevis på arbete, priset på tillgången starka variationer (figur fem).

NGU Technology Fans

“Number go up” or “NGU,” is by far one of the most influential explanatory factors in Bitcoin adoption. In this scenario, newcomers drive the price of bitcoin up, while the increasing asset price attracts a new wave of investors, HODLERS och den nyfikna. Som visas i figur sex, producerar kontinuerliga prisökningar från starten och framåt "rädsla för att missa" (FOMO), det vill säga en rädsla för att inte inkluderas i något som andra upplever.

"NGU-teknik" fungerar som ett effektivt, tydligt och självgående marknadsföringsbudskap. I figur sex sammanfaller utvecklingen av antalet nedladdningar av kryptoplånboksappar med tjurmarknaderna 2018 och 2020 och det finns ingen anledning att tro att detta förhållande kommer att förändras i framtiden.

Most hyperbitcoinization scenarios are based on the mass adoption of Bitcoin by several types of players — individuals, businesses, cities and eventually countries — in a sequential way, with this mass adoption ultimately driving up the price of bitcoin.

NGU-teknikberättelsen stöds av flera prismodeller baserade antingen på fast produktion, i fallet med "S2F"Och"Förlänga cykler och minska avkastning," eller baserat på energiförbrukning, i fallet med "Bitcoin Energivärde.'' Alternativt föreslår aktörer som Mimesis Capital ett tillvägagångssätt som består av att utvärdera tillgångspriset i förhållande till den möjliga totala marknadsandel som skulle kunna fångas som visas i exemplen på M2-pengar och globalt välstånd (figur sju).

Alla dessa modeller kan ha en effekt på allmänhetens uppfattning genom att föreslå en framtida prishöjning och genom att förstärka budskapet från NGU-tekniken.

Anonyma pedagoger

Since the early years of Bitcoin, individuals initiating friends and family into the cryptocurrency world have been a key part of Bitcoin culture. Word of mouth led people to discover this open, decentralized, borderless and censorship-resistant currency. Over time, personal accounts have continued to grow as more structured initiatives have appeared alongside to evangelize those with inquiring minds.

Smakämnen Bitcoin Beach community in El Salvador is one of the more prominent examples of this process. Although the community remained under the radar for some time, it was instrumental in El Salvador’s decision to adopt bitcoin as legal tender, thereby positioning the country at the forefront of financial innovation.

Inspirerad av Bitcoin Beach, other initiatives have tried to replicate its enthusiasm in other communities. In Senegal, Bitcoin Developers Academy is aiming to train university students in the development of Bitcoin and Lightning Network applications by adapting the content and values of other Bitcoinförst

The notion of adaptation is crucial. The Bitcoin narrative is shaped by individuals imbued with predominantly Western values and for whom notions of individual freedom, privacy and self-sovereignty resonate. In many societies, pengar ses som en mekanism för att stärka sociala relationer inom gruppen. In order to onboard new segments of the populations of Africa or Latin America, it is vital that the Bitcoin narrative be adapted to resonate with locals. Narratives centered around Bitcoin as a tool of individual freedom or means of privacy protection have done little to inspire imaginations in Eastern Africa. Instead, newcomers have grafted an alternative set of values onto Bitcoin that connect with the sense of community belonging encapsulated by the concept of ubuntu, som ofta översätts som "Jag är för att vi är."

If new users embrace the technology, their expectations will differ from those held by earlier adopters, and in response, the Bitcoin narrative, functionality and services will necessarily evolve. By introducing multisig delad vårdnad i sin Bitcoin beach wallet, Galoy gives another example of a necessary adjustment of the narrative in Central America, beskriver det som:

"...en multisignaturlösning där nycklarna till medlen i kylförvaring innehas av etablerade medlemmar i lokalsamhället. Den här modellen minskar beroendet av centraliserade företag utanför gemenskapen samtidigt som den minskar friktionen för medlemmar som går ombord i nätverket.”

Adaptation of functions and educational content conveyed by Bitcoin in response to uptake in new cultural contexts will be a source of significant innovation and enrichment for the community as a whole.

Perspektiv

Bitcoin As A Feedback Loop

Lär sig om Bitcoin is often a personal, intrinsically-motivated journey that encourages inquiry into a range of ämnen as varied as the monetary system, technology, economy and philosophy. In this sense, Bitcoin plays the role of a virtual tutor who cultivates a thirst for knowledge in its followers. Once convinced of the superiority of Bitcoin over alternative currencies, individuals develop behaviors that reflect the nature of this invention.

"Du ändrar dig inte Bitcoin, Men Bitcoin förändrar dig.”

-Max Keizer

Det begränsade utbudet av Bitcoin has encouraged hoarding behaviors from several types of actors. Prior to 2016, bitcoin traded below $1,000 and therefore acquiring multiple coins was considered an attainable goal for many people in the developed world.

Fast forward to 2021, when the price of bitcoin has appreciated considerably, such that it has become onerous for newcomers to acquire an entire bitcoin. The result is that newcomers are incentivized to buy smaller fractions of bitcoin. The accumulation of satoshis or “stacking sats” is the most concrete example of this practice that has pushed an entire generation of newcomers to acquire bitcoin in a programmatic and methodical way, as demonstrated by the success of companies proposing DCA services or cashback rewards.

One of the consequences of newcomers’ propensity to maximize the share of bitcoin in their asset portfolios — and hence, savings — is that if enough newcomers share this strategy, their cumulative efforts could propel the price of bitcoin significantly higher and eventually kick-off hyperbitcoinisation.

For each new daily expense, Bitcoiners are faced with a choice of whether or not to spend. By spending, they deprive themselves of the possibility of buying more Bitcoins, while if they refrain from spending the money saved can be converted into satoshis. This behavior clearly indicates a preference for future reward over immediate superficial spending. In this way, Bitcoin has transformed people from consumers into savers and can be seen as a reference of value anchored in the mind of consumers in a way that supports prudence.

By privileging the essential over the superficial, the durable over the fragile, and the fruitful over the futile, Bitcoin stands poised to help our society respond to the economic, environmental and social crises we are facing. For the first time, the introduction of a currency whose existence is linked directly to a conversion of energy will allow us to systematically integrate energy not only into our currency, but into our economic model.

This sends a strong signal given that Bitcoin is a social movement under expansion. By being the first to incorporate energy into the economic system, Bitcoin could act as a feedback loop that puts an end to the superficial consumerist models permitted and sustained by fiat monetary systems.

Skjut för välstånd

Storskalig Bitcoin adoption may seem like a remote possibility for some, but it has nevertheless become a full-fledged financial tool for an eclectic crowd. The West tends to view the countries from the globala södern as lagging in terms of the latest technological innovations, but following a series of interviews, the authors of this article have come to believe that where Bitcoin is concerned, the level of technological sophistication surpasses that found in many developed countries.

 In the table above, case one depicts how Bitcoin adoption by low-income families resolves challenges that may be difficult for Western readers to understand. Yusuf Nessary, co-founder of the Byggt med Bitcoin fundament, påminner om att sådana familjer – ibland isolerade från större stadskärnor – måste resa långa sträckor för att ta emot kontantbaserade remitteringar som skickas av familjemedlemmar. Att resa till närmaste stad medför inte bara stora kostnader, utan det innebär också att man avstår från en dagslön för familjer som lever dag till dag. Införandet av digital betalning direkt till en mobiltelefon kan dramatiskt förbättra användarnas liv genom att eliminera kostnaderna för att resa till närmaste bank eller bankomat.

Cases two and three depict scenarios where individuals and businesses have embraced Bitcoin as a payment method in order to sell their products or services more smoothly and connect to the global economy (#paymeinbitcoin). In an interview with these authors, Bitcoin developer Fodé Diop anticipated that if the digital workforce in Senegal starts selling their services to foreign companies, capital injected into the country will reap benefits not only at the individual level, but also country-wide.

This analysis was shared by Nigerian Bitnob CEO Bernard Parah, who considers that bringing a viable payment solution in Nigeria would solve 50% of the problem and could ultimately help flatten the world, as he said in his own interview with these authors. Diop likewise förutspår det Bitcoin could disrupt or even put an end to the brain drain that has impacted emerging economies.

Till skillnad från Europas åldrande samhälle består befolkningen i afrikanska länder till stor del av ungdomar under 25 år och uppvisar en dynamisk demografisk tillväxt (figur åtta). Om dessa unga människor fortsätter att möta hög arbetslöshet och dåliga framtidsutsikter, kan den sociala och ekonomiska situationen bli explosiv – särskilt i länder med de högsta andelarna ungdomar.

Fallen som skisseras ovan understryker potentialen med förtroendeminimerade pengar att bli en möjliggörare för handel både nationellt och internationellt, och att hjälpa mänskliga samhällets skala eftersom det är universellt interoperabelt, inte kan devalveras eller konfiskeras och kan kringgå begränsningarna i det gamla, förtroendebaserade banksystemet.

Frihetstrappan

Bitcoin can be seen as a polymorphic tool that adapts to the needs of each new user. Bitcoin as a privacy tool or means of self-sovereignty has been its predominant narrative, however self-sovereign identity (SSI) is a concept of the global “rich” that stands outside the reach of the 800 million people who do not have tillgång till el, telefoner eller internetuppkoppling (figur nio).

"Det som har fungerat i västvärlden kommer inte att hålla i Afrika! Vi måste återuppfinna berättelserna eller visa olika berättelser.” 

– Fodé Diop

It should also be noted that the introduction of Bitcoin alone is not enough to lift the global population out of extreme poverty. Donations and development programs need to be coordinated with local agents of change, like those being carried out by the Built With Bitcoin Fundament.

Baserat på konceptet om en "suveränitetstrappa” och senare utarbetad av Anita Posch, below we depict the relationship between the potential threats and living conditions faced by individuals, groups of people and society, with the freedom that stands to be ushered in by Bitcoin. We generalized this concept beyond individual sovereignty because, as mentioned above, this concept still remains abstract to a large part of the population.

This “freedom ladder” illustrates how Bitcoin is poised to bring about a range of solutions that will make it possible to overcome numerous threats on an incremental basis. Although the level of threat faced by an individual living under the oppression of an authoritarian regime or for a group of migrants fleeing an economy ruined by inflation differs, Bitcoin provides solutions for a variety of situations.

The bottom of the ladder includes infrastructural requirements, as these basic needs should be addressed prior to considering access to Bitcoin.

Det finns extrema situationer som kan tvinga vissa populationer att hoppa rakt till de högsta stegen på frihetsstegen för att skydda sig mot plötsliga och våldsamma hot. Men för att en användare eller en grupp människor ska förstå vad självvårdande eller anonym transaktion innebär, är det ofta nödvändigt att ha upplevt yttre hot under en längre tidsperiod, ibland stegvis, ungefär som ett förberedt immunsystem som bättre kan motstå utsätts för yttre angrepp.

Slutsats

Bitcoin is a unique invention in many ways. Unlike the other great inventions of the modern era such as electricity, the computer or the internet, whose early adoption was initiated by either private companies or public institutions, Bitcoin has always targeted individuals: the marginalized and misfits of the system.

Bitcoin adoption is quiet and goes almost unnoticed by the mainstream agents of influence. Designed to scale by minimizing trust and eliminating dependency on third parties, it is difficult to obtain reliable aggregate data on the extent of Bitcoin adoption by a given country or a segment of the population. The permanent evolution of the protocol — of which Pålrot är det senaste exemplet — förstärker detta sekretess- och skalbarhetsmål och kommer att fortsätta att göra försök med kvantitativ analys utmanande.

Many questions remain unanswered about hyperbitcoinization and its micro- and macroeconomic consequences. This article attempted to identify emerging scenarios that may lead to hyperbitcoinization. However, it remains difficult to predict how these different scenarios will relate to one another, and at what speed they or any other possible scenarios may occur.

Many challenges remain to be solved before we see a broader adoption and, as Ray Youssef, CEO of Paxful, stated in an interview with these authors, it is crucial to relentlessly educate users, improve their experience and above all adapt the narrative to make Bitcoin mer inkluderande.

This article sought to identify and categorize initiatives that could lead to hyperbitcoinization, thereby transmuting expectations into reality. Although the mere prospect of hyperbitcoinization has raised immense hopes for many people, at this time we are still far from realizing the transformative power of Bitcoin i våra liv.

"Vi tenderar att överskatta effekten av en teknik på kort sikt och underskatta effekten på lång sikt." 

-Amaras lag

In view of the dynamism of communities developing islands of resilience across the world, it is not hard to imagine how the voluntary actors of hyperbitcoinization will likely arise from grassroots initiatives, while governments and central banks — through their binding interventions — will unwittingly become its involuntary actors. This hypothesis resonates with the original vision of Bitcoin that it still carries to this day: a P2P electronic cash system.

Vi vill uttrycka vår tacksamhet till Anita Posch, värd för podcasten "Anita Posch Show"; Yusuf Nessary, co-founder and director of the Built With Bitcoin Fundament; Ray Youssef, VD för Paxful; Fodé Diop, founder at Bitcoin Developers Academy; Bernard Parah, VD för Bitnob; Gael Sanchez Smith, författare till “Bitcoin Lo Cambia Todo”; and Galoys team för att dela med oss ​​av ovärderliga insikter under våra intervjuer; och till Jennifer McCain för att ha granskat den övergripande läsbarheten.

Referensprojekt

Detta är ett gästinlägg av Fulgur Ventures. Åsikter som uttrycks är helt deras egna och återspeglar inte nödvändigtvis de från BTC, Inc. eller Bitcoin magazine.

Ursprunglig källa: Bitcoin magazine