This is the next rung, and it operates through entirely different mechanisms. It is characterized by sovereign competition: nation-states stacking Bitcoin reserves as hedge against dedollarization and fiat debasement; hash rate becoming recognized as strategic infrastructure analogous to energy or semiconductor production; interstate commerce settling in Bitcoin to avoid counterparty risk in a low-trust multipolar environment; energy abundance (from petrodollar collapse and nuclear reintegration) funding massive mining expansion.*
quotingI put some thinking into the next couple of decades, and what they say about what we should be doing now. What do you think?
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