The "fiat collapse" can only happen, if there are enough people (regular people) using Bitcoin, thus forcing states/institutions to also use Bitcoin. Majorities of voters (motivated by their incentive to preserve the utility/usability/legality of their Bitcoin holdings) will have to basically force pro-Bitcoin policy. Otherwise, institutions/states won't be under any pressure to even care about Bitcoin. They'll just happily continue using fiat currencies as a tool to get more leeway for setting policy.

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JackTheMimic's avatar
JackTheMimic 1 year ago
The fiat collapse literally will happen even if Bitcoin's code base vanishes from the earth. The collapse of Fiat currencies in their current use is not the only fiat death spiral in history. Again, study economics. Bitcoin is simply an alternative like gold but without all of the flaws physicality brings (mobility, transactibility, and confiscation risk). The point you are missing is bitcoin doesn't HAVE to succeed for the dollar to die. Bitcoin is just the lifeboat for that sinking ship. People holding, using, and trading in an alternative is what makes Bitcoin replace the dollar. The dollar collapsing is the inevitability. Political and institutional adoption of bitcoin will just make the collapse WAAAY less severe(for bitcoiners).