Bitcoin is fiat money, too
Fundamentally, Bitcoin is software eating the Fed-Bank-Retail ecosystem. The Fed governance is replaced by code. The banking utility is replaced by miners.<p>I think the march of bitcoin is actually a better example of how AI is taking over the world. People in AI are fascinated by AGI - but the bitcoin ecosystem is actually a real world example of how AI will take over the world.<p>Specifically, the march of AI won&#x27;t happen at &#x27;edge&#x27; nodes, it won&#x27;t be incremental, it  won&#x27;t happen by replacing humans with machines. The march of AI will start at the core, at a rethink of the fundamental infrastructure that powers an industry making it more amenable to machines and &#x27;hostile&#x27; to most humans.<p>People underestimate the amount of resources required to articulate monetary policy by a central bank. Bitcoin can already do that much better than maybe 70% of the worlds central banks. India, China and US can think about banning&#x2F;regulating bitcoin. But there are countries in Africa who can already do better by simply leapfrogging to bitcoin and ditching their national currencies.<p>Bitcoin is here to stay. And it cant be stopped.