Dance to the fiat soundtrack.
Did you ever play the game “musical chairs” when you were a kid? Back in my day it was really only popular when I was really young and even then, it was second to duck, duck goose.
The way it works is actually pretty insidious although it is presented as a lighthearted and fun game.
The setup is simple. N people = N chairs plus 1 person controlling the music. Everyone begins sitting down in a chair and then the music starts. Everyone gets up and dances around the chairs in a ring. Meanwhile the person controlling the music, or a helper REMOVES one (or more) of the chairs.
Now the fun begins.
The music stops. EVERYONE has to immediately find a chair and sit down to claim their spot. Of course, there are now LESS chairs than people and someone or multiple someone’s, is going to be left out with no chair. Anyone left standing when all the chairs have been taken - is OUT of the game.
This game is kind of fun in the beginning. Music and laughter and people scrambling for a chair in the first round. Depending on the size of the group you may not even really know the person or persons who lose out in round 1. What you figure out very fast though is you don’t want to be left standing without a chair.
We have a name for this today - it’s called FOMO.
As the rounds progress people tend to get less happy and more aggressive. Invariably there is some pushing or someone pulling a chair right out from someone else as they are sitting down so they can get the spot for themselves. By the end there are a couple of sweaty, savage individuals who have gone full Hunger Games and are willing to do anything to be the last person sitting in a chair.
Don’t get me wrong, plenty of people played this game innocently, and I am sure not every game ended in tears or threats of reprisal. Plenty did though.
So, what does this have to do with bitcoin and fiat? Everything.
Bitcoin is the chair and fiat the music fueling the dance around the ring. Right now, the game is so big most people do not even realize they need a chair. They just keep dancing around the ring believing the music will go on forever -it wont.
In fact, this game is going to get SAVAGE as the supply of bitcoin is fixed at only 21M. Thats 21 million chairs for ~8.1 billion people and you can tell straight away the math won’t work out. Were it to be evenly distributed today the most any one person would own is .0026 BTC. Thats like two thousand people sharing a chair.
But wait there’s more.
6 million BTC are currently estimated to be lost forever, taking almost 30% of the total supply of ‘chairs’ OUT OF THE GAME forever. Don’t fret though, between now and 2140 we will add the last 7-8 percent of the total supply that hasn’t been mined. You still have a chance to get back in the game…… Can you see now why the price of bitcoin is always going up?
We aren’t done yet.
With a twist that only the fiat musicians themselves could imagine, chairs on paper have entered the game. Thats right you can keep dancing knowing you have a ticket that says you have a seat or a fraction of a seat, with your name on it! Don’t worry about actually having the seat in your hand, they promise to hold your spot. wink, wink, nudge, nudge.
Oh, did I mention that there are players out there who already own hundreds of thousands of chairs, I mean bitcoin? Looking at you China, US, Ukraine and Wall Street. In fact, there are people already today who are not dancing at all - just sitting or HODLing. Good luck getting them out of a chair.
The thing is the fiat music won’t play forever. It will stop and there will be WAY more people without a chair then people with. Yes, eventually the people with chairs will need something else like food or energy or opera tickets or a car and the chairs will begin to be traded and become more and more distributed cause you can’t eat chairs.
That period in between though - I have a feeling it is going to be a lot more brutal than people even realize.
It doesn’t have to be like this of course - there is a way to soften the blow. The time to build the parallel economy is NOW! We must get more and more people trading goods and services for bitcoin and priced in bitcoin NOT a fiat equivalent TODAY. We have to build the future we want not wait for it to be built for us.
You can be sure the fiat musicians are planning, and you can be sure they want to own all the chairs. Let them build the game and you can also be sure it will get rigged again.