Bitcoin objection: “Might fade away/go to zero”

Objection number 11 to Bitcoin is that it might fade away or somehow go to zero. Well, let's talk about that. First, it's not going to happen, but secondly, let's talk about why. There are really only two scenarios where Bitcoin could fade away or go to zero. The first is that humans stop using anything as money. Now, there are some scenarios that this could happen in. For example, Jesus could come back and it could be the end of the earth and we could all find out that heaven doesn't use money and there's no concept of scarcity. So, humans don't need money in heaven. Okay. Yeah, there is a possibility that that happens or that we all find out we're living in the matrix and that machines are farming our bodies for energy and we're all living in pods, you know, living in a fantasy world with no money because, you know, AI robots took over the world. Well, that's not going to happen either. So, at least not in my life lifetime. Highly unlikely. Okay. So if you don't think that we're just not going to use money at all and if we're not going to use money at all, we're also not going to use stock markets or anything else for money like gold or the dollar. So in scenario one where humans stop using money entirely, uh either it's because we're in some futuristic reality or we go back to barter which is completely non-functioning in a modern economy. There is no way a modern economy can run on barter even a tiny bit. Again, you know, maybe you can swap eggs for some butter or something at a farmers market, but there is no way to build an iPhone, construct a house. You know, all of the modern things anyone expects in the modern world are completely nonviable with barter. Okay. So, the only other option if if we don't stop using money entirely, the only other option is that somehow something else outco competes bitcoin. Well, the current, you know, market leader is the dollar. The problem is the US dollar is deeply flawed. Right now, according to the government, your purchasing power of your US dollars is dropping by 4% per year. That's crazy. That is crazy. 4% of your purchasing power is lost every year. That means even if you get a cost of living raise at your job for 4%, your your ability to buy more stuff does not actually go up. You're actually just treading water. It looks like you're rising by 4%. But the truth is the government is draining water out of your swimming pool by the same 4% that you got a raise and you're just treading water going nowhere. So, uh, inflation is about to get, I believe, much worse. Even Scott Bessant, the CFO, chief financial officer effectively of the United States, even though his title is, uh, Treasury Secretary, he says expect high inflation. So he just came out and said hopefully it'll be short and transitory which is what they said before when it wasn't. And he's saying the same thing now like hey expect high inflation in the near term is what it is. So the US dollar is deeply flawed because other people can make it out of thin air. You have to work for it but other people get to make it out of absolute thin air. Um so unless you like working for money that another man can print then that the US dollar is deeply flawed. It's constantly losing value. Every time you try to save, it's losing value out from under you while you try to save it because they keep making more of it out of thin air. So, if you understand the flaws in the US dollar and you understand that gold does not work as money in a modern economy, just like barter does not work as money in a modern economy, because gold cannot be easily zapped across the internet anywhere in the world in a matter of seconds, then you really have limited options. You're either going to go down with the sinking ship of the US dollar or you're going to go try to use a dysfunctional currency from the past like gold or you you're going to believe that the future does not involve any kind of money or you can adopt Bitcoin. But if Bitcoin does not get out competed by some reason, then its compelling monetary properties as the most divisible, durable, portable, fungeible, authenticatable, and scarce thing that exists anywhere in the universe gives it the perfect properties for money. And obviously, it has the perfect properties of money because it was designed to have the perfect property of money. Literally, it was invented so that it would have the perfect properties of money so that it could be the future monetary system of the world. and replace the US dollar and all other government currencies. So, uh I think that's what's going to happen. It's going to take a long time. The world has 8.3 billion people in it. Humans are not inclined to change quickly. Um so, anytime a uh type of change happens slowly. The same will be true of Bitcoin. It's not going to happen overnight, but over time, people will realize that Bitcoin is better money and that they don't have to put up with the dysfunction and stupidity of the US dollar. And so I believe Bitcoin ultimately will win in the end. It's just a matter of time. So I don't think we have to worry about Bitcoin fading out or going to zero because the fundamental underlying properties of Bitcoin make it an ideal money and humans are going to be using money I believe for thousands of years into the future. And the best money that is both most scarce and most usable always outco competes the money that is less scarce and less usable. And Bitcoin is currently the most scarce asset in the world. And every day it becomes more usable as people adopt it uh in greater numbers. So it's only a matter of time even if it'll take some time. And I think the probability of Bitcoin fading out or going to zero, I think that probability itself is effectively zero.