All Bitcoin, No Fiat With Sahil Chaturvedi – What Bitcoin Did

Hyperbitcoinization has long been talked about in Bitcoin circles. For some it is a fatality, for others it is a pipe dream. Notwithstanding the differences of opinion, it is generally assumed that the process requires top-down actions from the nation-state. In the meantime, adopting, using, and living with Bitcoin is a “parallel hustle” to the practical reality of having to operate in a fiat economic system.

However, it should come as no surprise that among the growing number of people promoting freedom money, there is a growing community betting on Bitcoin. At the far end of the “zero” in terms of bitcoin adoption, there is a promising “zero” movement in terms of fiat rejection. This is hyperbitcoinization at the individual level.

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But how do you use Bitcoin as a personal medium of exchange and unit of account? There are a number of technical issues that need to be resolved: our fiat economic system is embedded in every facet of our way of life. But there are current and emerging technologies that can help with this process.

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But arguably more important than the practical issues that need to be overcome is the change in attitude that is needed to effect this financial adjustment. Our fiat economy is also independent rooted in our individual and collective psychology. A change of mentality is necessary, in particular with regard to the price.

This approach is not for everyone. Different people have specific personal needs and responsibilities that make it impossible to “zero stall” at this point in the Bitcoin adoption cycle. It is not a dogmatic and fanatical action, forcing others to follow suit. But at the same time, “coming out of zero” should be applauded as perhaps the ultimate vote of confidence in Bitcoin.

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