Very good and helpful. One path you do not mention is if government decides Bitcoin is a threat and tries to block or heavily regulate its use. This: "How does behavior change in a world without permanent inflation, without obese governments fattened on free paper, without low or negative rates forcing us to take financial risks we didn’t want, and without financial crises that keep us perpetually dodging financial rocks flung by bankers and their government pets." These things are not like bad weather. They happen because people benefit from them and make them happen -- powerful, wealthy, influential, connected people. They will not like facing something that makes it harder for them to do these things, to their benefit. They will not sit still while it happens. The big hurdle for Bitcoin and crypto generally is the regulatory, legal and political counter-attack, that seems inevitable. If it survives that, we really will be in a new world.
Very good and helpful. One path you do not mention is if government decides Bitcoin is a threat and tries to block or heavily regulate its use. This: "How does behavior change in a world without permanent inflation, without obese governments fattened on free paper, without low or negative rates forcing us to take financial risks we didn’t want, and without financial crises that keep us perpetually dodging financial rocks flung by bankers and their government pets." These things are not like bad weather. They happen because people benefit from them and make them happen -- powerful, wealthy, influential, connected people. They will not like facing something that makes it harder for them to do these things, to their benefit. They will not sit still while it happens. The big hurdle for Bitcoin and crypto generally is the regulatory, legal and political counter-attack, that seems inevitable. If it survives that, we really will be in a new world.
Wonderful! Thank you Peter.