What happens when Bitcoin gets adopted fully?
This single question is the most asked and most answered question too. But let me admit, answers I have read so far are quite lame.
Almost, none of those touches the main point. Everyone just wants to get rich quick with Bitcoin but no one wants to undergo the pain to understand it.
Hyperbitcoinization is the name of the thing that will happen when Bitcoin gets adopted. It simply means everything will happen in Bitcoin. Bitcoin will be the unit of account, the medium of exchange, and store of value.
You and I will save in Bitcoin, transact in Bitcoin and transfer in Bitcoin.
But most importantly. You will be free.
Here is what I mean:
You will no longer be required to gamble in the market !! You can focus on your work. You will not spend speedily. You will take time. Your thinking will become long term.
This type of attitude is almost non-existing now.
Whether you are Doctor, Florist or Writer or Engineer you are almost compelled by various factors to invest your money in something or else to save its purchasing power. To save your money from inflation you are almost always searching for tricks and tips.
When Bitcoin hyperbitconizes the world you no longer be required to do this. Instead of your money-losing a 3-4% value annually your money’s value will remain either stable or increase annually by 3-4%
How wonderful it will be !!
If you inquire monetary history you will find sound money like Gold helped human civilization thrive. It leads people to commit on really long term projects without worrying about their money’s purchasing power.
Even at present whatever we use was invented many years back when we had sound money. For example, the steam engine in the 17th century, cars in the 18th century, planes in the 19th century, etc.
Since the 1970s we haven’t had sound money.
Sound money encourages experts (Doctors, Engineers, Writers etc) to focus on their thing instead of making everyone as a generalistic gambler in the stock, bonds, or real estate markets.
This is hyperbitcoinization & it’s important.
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Hey there! I am Sudhir Khatwani, an IT bank professional turned into a cryptocurrency and blockchain proponent from Pune, India. Cryptocurrencies and blockchain will change human life in inconceivable ways and I am here to empower people to understand this new ecosystem so that they can use it for their benefit. You will find me reading about cryptonomics and eating if I am not doing anything else.