Fidelity's Digital Assets division shared a tweet about an article that discusses how Bitcoin obsoletes all money - gradually at first but then suddenly.  This tweet is being celebrated in the Bitcoin maximalists and crypto communities.

The link to the article titled "Bitcoin Obsoletes All Other Money" by Parker Lewis, published on unchained-Capital, talks about how owning Bitcoin will translate into one of the most "will likely be the largest and most diverse economy that has ever existed."

The article concludes with this grand paragraph "It does not matter how complex bitcoin is. At the end of the day, bitcoin becomes an A/B test. The need for money is real and individuals will converge on the form of money that best fulfills the function of exchange. No other currency in the world can ever be more scarce than bitcoin, and scarcity will act like a gravitational force driving adoption and communication of value. Today, most billionaires do not understand bitcoin. Bitcoin is an equal opportunity mind-bender. But even those who do not understand bitcoin will come to rely upon it. There are many fundamental questions. Bitcoin is volatile, seemingly slow, challenges to scaling, not commonly used for payments, consumes a lot of energy, etc. Stability is an emergent property that follows adoption, and all other perceived limitations will be solved as a function of the value that is derived from finite scarcity combined with the ability to measure, divide and transfer value. That is the innovation of bitcoin. Currency A has a fixed supply. Currency B does not. Currency A keeps increasing in value relative to Currency B. Currency A continues to increase in purchasing power relative to goods and services while Currency B does the opposite. Which one do I want? A or B? Make the right choice because the opportunity cost is your time and value. All of the rest simply explains why individuals will increasingly opt for A over B, but in practice, it all comes down to basic common sense and survival instincts. Bitcoin obsoletes all other money because economic systems converge on a single currency, and bitcoin has the most credible monetary properties."

We encourage every Bitcoin fan to read this article: https://unchained-capital.com/blog/bitcoin-obsoletes-all-other-money/

Follow us for more updates and important updates from blockchain/Crypto space.

Cover image source: "Stack of Bitcoins on Benjamins" by QuoteInspector.com is licensed under CC BY-ND 2.0