Why Hyperbitcoinization Could Be Bad

Amongst the biggest believers of Bitcoin, there has long been a theory about what the future world will look like. A future where Bitcoin has fulfilled all of its potential and has taken the world by storm. Where Bitcoin has not only skyrocketed up to unfathomable prices but has become the currency of choice for nearly everyone. This has been called Hyperbitcoinization. For many of us, this is a result that we have not only been waiting for but dreaming of as well. There have been constant debates on if this will happen or may never come to fruition. But for the sake of this article, what if hyperbitcoinization actually would happen? What would be the possible negative outcomes that would result from it? And would it leave us wondering if it was all worth it?

Now before we dig into this topic, there are some things you need to know. If you have been following me for any length of time, you will most likely already know that I am one of the biggest believers in bitcoin you will find out there. I’m full of the opinion that given enough time, bitcoin will eventually reach those crazy astronomical prices. That there’s a good chance it will become a world reserve currency and will evolve in ways that we cannot imagine yet. I believe that hyperbitcoinization will eventually happen, and probably sooner than most people think. But, most articles usually focus only on the good things that…