Thread by @LN_Master_Hub

@Valustks1 Each one of the techs listed is revolutionary in it's own right. Combining them sets us up to replace *all* financial transactions with #bitcoin. Once the epiphany hits enough people, there will be a MAD rush to get rid of worthless fiat.

@Valustks1 This will be the trigger for the already 'waiting to happen' global hyper inflation.
Imagine the chaos during the *several* year transition period while people/gov/corps *globally* move from fiat to bitcoin.
All your IOUs that are fiat denominated are suddenly worthless.

@Valustks1 It *globally* resets all debt, at every level, personal, local gov, state, federal, and international... ALL goes to zero. What does it matter if you own $20T in debt, if $20T wouldn't buy a stick of gum?

Then, another big part... the globe goes from inflationary

@Valustks1 to deflationary currencies. No more reckless money printing.

And the best part: With the privacy afforded by #LightningNetwork, income tax becomes completely unenforcable. Every country would have to switch to a consumption tax.

@Valustks1 Stop taxing of production combined with moving from inflationary to deflationary currency... has mind boggling implications. It stops the boom-bust cycle caused by tampering with money supply.

Then, fractional reserve lending (lending out more than you actually have) goes away.

@Valustks1 Countries that are first movers to adopt bitcoin as their sole national currency will be the economic powerhouses of the future.

The political, societal, financial, infrastructural and personal changes this brings about will dwarf all the changes in the last 500 years.

@Valustks1 Brought to you by #Bitcoin over #LightningNetwork.
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