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\\u201cWhat if there was a way to hold Bitcoin only as your money and completely sidestep financial debasement and have better financial privacy, but at the same time, you can be interoperable with the legacy Fiat financial networks. That\\u2019s an interesting concept to me.\\u201d
\\u2014 Sahil Chaturvedi

Hyperbitcoinization has long been discussed within Bitcoin circles. To some it is an inevitability, to others, it is a pipedream. Notwithstanding the differences of opinion, it is generally assumed the process requires top-down nation-state actions. In the meantime, adopting, using and living with Bitcoin is a \\u2018side hustle\\u2019 to the practical reality of having to operate within a fiat economic system.

However, it shouldn\\u2019t be a surprise that amongst the growing number of people promoting freedom money, there is a growing community who are going all in on Bitcoin. At the extreme end of \\u2018getting off zero\\u2019 in terms of Bitcoin adoption, there is a movement promoting \\u2018getting on zero\\u2019 in terms of fiat rejection. It\\u2019s hyperbitcoinization at the individual level.

But how does one go about using Bitcoin as your personal medium of exchange and unit of account? There are a number of technical issues that need to be addressed: our fiat economic system is deeply embedded into every facet of our way of life. But there are current and emerging technologies that can assist in that process.

But arguably more important than the practical issues that need to be surmounted is the change in attitude that\\u2019s required to make this financial adjustment. Our fiat economy is also deeply embedded into our individual and collective psychologies. A change in mindset is required, particularly in relation to price.

This approach is not for everyone. Different people have specific personal needs and responsibilities that make \\u2018getting off zero\\u2019 unfeasible at this stage of Bitcoin\\u2019s adoption cycle. It is not a dogmatic and fanatical action, coercing others to follow suit. But at the same time, \\u2018getting off zero\\u2019 should be applauded as being perhaps the ultimate vote of confidence in Bitcoin.

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This episode\\u2019s sponsors:
Gemini - Buy Bitcoin instantly
Ledn - Financial services for Bitcoin hodlers
Bitcasino - The Future of Gaming is here
Pacific Bitcoin - Bitcoin\\u2011only event, Nov 10 & 11, 2022
Ledger - State of the art Bitcoin hardware wallet
Compass Mining - Bitcoin mining & hosting
Cake Wallet - Open-source, privacy-focused Bitcoin wallet
BCB Group - Global digital financial Services

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WBD537 - Show Notes

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