Hyperbitcoinization

Hyperbitcoinization Hyperbitcoinization, a term coined by Daniel Krawisz in 2014, refers to a thesis under which bitcoin, at first slowly and then rapidly, would replace traditional currencies. In effect, bitcoin-induced currency demonetization.

Although bitcoin certainly has plenty of good features, for mass adoption it would have to overcome the network effects of the world’s domestic currencies. In short bitcoin can’t just be a bit better than a domestic currency. If it is to replace it, bitcoin has to be thousands of times better. Continue reading…

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