"My own prediction is that slow bleed has been accelerating and is only the first step. The second step will be speculative attacks that use bitcoins as a platform. The third and final step will be hyper-bitcoinization." - Pierre Rochard
We are entering a new phase of the Bitcoin game theory. What really happens when the hardest money in the world, encounters hundreds of weak, fiat currencies? What unfolds is a series of feedback loops that drive the bad money out of circulation, and leads to eventual "speculative attacks" on the weaker currencies particularly in conditions with high capital controls, falling reserves, and manipulated interest rates. All conditions that the modern world finds every way they look. Don't miss this amazing blast from the past by Pierre Rochard, predicting the very environment of 2020, back in 2014.
From the ever amazing Nakamoto Institute, Pierre's "Speculative Attack":
https://nakamotoinstitute.org/mempool/speculative-attack/
A huge thank you to the Bitcoin Audible Sponsors:
Hexa Wallet - Mobile wallet, seedless, batching, custom fees, multiple accounts & more (guyswann.com/Hexa)
BitBox - Minimal, user friendly, secure, Swiss made, open source, hardware wallet (guyswann.com/BitBox)
LVL.co - The first Free, no-fee exchange & Bitcoin banking services!
"Bitcoin’s security guarantee comes from the direct conversion of unforgeable energy into a fixed supply unit on an incorruptible monetary network. There is no...
"The Jevons paradox is a staple of environmental economics used to describe how the introduction of more efficient technologies tends to increase the consumption...
"Although I mostly agree with their reasoning and share the enthusiasm for such a free market, I cannot stop being astonished by the naivety...