Why We Can’t Completely Abandon Fiat For Bitcoin Yet

8 Mins read

Should we all go zero fiat? I’ve seen this idea gain prominence on Bitcoin Twitter recently, discussed by people like LaserHodl and Heavily Armed Clown. Personally, I’m open to the idea, and I believe that we all will eventually #GetOnZero. But not just yet.

As much as I’d love to live in the hyperbitcoinized world today, we’re not there yet. Put in simple terms, I still have fiat-denominated obligations with individuals or businesses that do not directly accept bitcoin. So, while I generally minimize my fiat exposure, there are valid criticisms and concerns about literally going to zero fiat today. And what about using the fiat system’s debt for your own benefit before it collapses?

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