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November 16, 2017, 03:17:37 PM |
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One of the earliest references to hyperbitcoinization (H-theory) derives from the Satoshi Nakamoto Institute. It describes a world waiting for bitcoin in the borderless, peer-to-peer sense. Especially true for emerging economies prone to inflation, hyperbitcoinization is an adoption theory with radical implications. Until recently, it was only a theory.
Hyperbitcoinization in Theory
Demonetization in its contemporary sense is yet another act of government minders, officials charged with a country’s monetary policy. Last year around the present time, Prime Minister Narendra Modi took to an impromptu television address. He announced to India, 1.3 billion people, its ₹500 and ₹1000 notes were toast as of a few hours from broadcast.
It would be something akin to the popular 10 or 20 USD bills zapped from the economy with almost no notice. And indeed, a century and a half ago, the United States demonetized silver, plunging the economy into depression.
But, again, the usual understanding of the term involves some kind of state-ordered action, the presumption of government-run monetary policy safely assumed.
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