What Is Hyperbitcoinization?
Hyperbitcoinization is the inflection point at which Bitcoin becomes the default value system of the world. As more individuals and groups around the world realize the advantages of a borderless, censorship-resistant and natively digital system for transacting value, a critical mass of users will eventually fuel currency demonetization and the replacement of our world’s ingrained financial institutions and world powers with a more equitable, publicly-driven system.
Because this is such a foundational change for our world, definitions of hyperbitcoinization are wide-ranging and all-encompassing. Visit these resources to learn more about how hyperbitcoinization’s effects have been articulated.
- Hyperbitcoinization (Satoshi Nakamoto Institute)
- Hyperbitcoinization: Winner Takes All (ObiWan Kenobit)
- Metaphors For Bitcoin’s Future (21 Lessons)
How Hyperbitcoinization Changes The System
While Bitcoin’s advantages can be leveraged by anyone, it’s hard to say whether or not hyperbitcoinization will occur within our current system or outside of it. Governments may still attempt to stop hyperbitcoinization through a range of suppressive actions, from cutting internet service to rationing power use, or they may ultimately decide that they need to join the movement. Similarly, some mainstream, regulated financial institutions have already begun offering bitcoin-specific products. It may be that these institutions will slowly convert to the bitcoin-based economy as adoption grows, or that they may eventually attempt to curb hyperbitcoinization by doubling down on the fiat economy or alternative digital currencies.
Visit these resources for some thoughtful insight on how hyperbitcoinization is and ultimately will disrupt the prevailing systems of our world.
- When Bitcoin Melts The System, Prosperity Steps In
- How Fiat Could Fall And Bitcoin Could Soar
- Imagining A “Bitcoin Standard” Financial System
The Bitcoin Circular Economy
One fundamental difference between today and the age of complete hyperbitcoinzation will be in the growth of the bitcoin circular economy, which would become simply “the economy.” When bitcoin becomes the world’s preferred currency, BTC will no longer be priced in any fiat equivalent (1 BTC will be worth 1 BTC) and BTC won’t regularly be exchanged (or sold) for any other currency. All goods and services will be available for BTC and, critically, this economy will be deflationary, as opposed to inflationary.
The bitcoin circular economy has begun to establish itself in many ways already and these manifestations offer critical insight into the world based on Bitcoin. For more on this critical aspect of hyperbitcoinization, visit the resources below.
- Building The Bitcoin Circular Economy (Bitcoin Black Friday)
- Because Bitcoin Is A Necessity, Its Economy Will Be Circular
- Four Lies About The Bitcoin Circular Economy
Imagining The Hyperbitcoin Future
As a foundational change to our most important societal systems, the potential effects of hyperbitcoinization are mind boggling. One can only begin to imagine how things as basic as communication and value transaction will change. And as our society advances in other ways — into outer space, for example — the hyperbitcoin future becomes even more fun to explore.
For some detailed projections about the future age of Bitcoin, visit these resources.