Will FIAT Currency Hold Back Bitcoin?

The U.S. government will pay $474 billion in interest on its debt this year.

And that's with rates around 1%. Total debt is now $19.845 trillion, and it just exceeded annual GDP.  Their unfunded liabilities top $100 trillion.

Because of this, some might loom they're eventually headed for a financial reset. And that will depend on the whims of bankers and politicians. But as long as we go, we can't picture any long-term (20-year) scenario where the dollar does well.

There appears to be zero chance of cutting federal spending anytime soon. It should have happened long ago, yet the spending seems destined to keep rising until the whole thing implodes.

Eventually the interest on the debt will become unsustainable, and they'll have to start monetizing the debt on a massive scale.

This is not about they'll default on the bonds. It's simply questioning whether the dollars they're paid back with will have much value.

When this happens, they'll have an opportunity to choose a new system. And some people would vote for a cattle-based monetary system over the current one.

But luckily we have Bitcoin.

The rise of cryptocurrencies like bitcoin may prove to be a catalyst that speeds the transition.
Cryptocurrencies offer a path forward to a new and better monetary system. A system where the money supply can be hard-coded. One that doesn't require middlemen... and that vastly increases efficiency.

It's no coincidence that bitcoin is doing very well now. Bitcoin was launched amid bank bailouts in 2009 by a guy who thought the financial system was broken. Fortunately, Satoshi Nakamoto was a genius, and he created a brilliant piece of software.

It's growing exponentially now because people are looking at the current system, shaking their heads and then looking for something else. And bitcoin is transforming the financial world with blockchain because the technology is superior.

Besides, people want this. They want a way to store value and trusted transactions that doesn't suck.
If this crazy monetary revolution does happen, everyone would want to own at least a piece of it.

Cryptocurrency ownership rates are still well under 1%. An even for those who are starting getting position with it, they'll still be doing so extremely early.