The rapid decline of the U.S. dollar has reignited dreams of “hyperbitcoinization” among Bitcoin proponents. But there is little evidence that the dollar dying means Bitcoin’s victory; and plenty that points toward widespread chaos instead.
The dollar dying: lessons from currency collapse
Fernando Nikolic, ex-VP at Blockstream and a veteran of Argentina’s financial turmoil, cautions against Bitcoiners wishing for the death of fiat:
“Bitcoiners celebrating dollar collapse don’t understand what they’re asking for… It’s not liberation, it’s your grandmother eating cat food because her savings evaporated… The dollar dying doesn’t make Bitcoin win.”
In times of true currency collapse, basic necessities like ammunition (not digital assets) become the only thing of real value. Many Americans imagining a sudden transition to a Bitcoin-based economy have no experience of genuine societal breakdown.
The reality, Nikolic warns, is far more chaotic than they realize, an
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