The founding mission of The Bitcoin Cash Podcast is to accelerate Bitcoin Cash on its rise to global reserve currency. This tagline for the show is announced at the start of every episode. The entire listener base (and Bitcoin Cash ecosystem generally) can be thought of as a decentralised revolutionary movement to make this vision a reality.
Some readers may already be familiar with this concept under the name "hyperbitcoinization", as first explained by Daniel Krawisz in 2014.
Bitcoin Cash as "global reserve currency" means:
- Bitcoin Cash is the #1 most transacted currency in the world, replacing and then far exceeding current trade of the US Dollar (existing global reserve currency).
- The vast majority of the world population (6 or more out of 8 billion people) uses Bitcoin Cash on-chain payments peer-to-peer for the majority of their daily economic transactions. Everything from grocery shopping to corporation spending and governments payments are made in BCH.
- In addition to payments by human beings, there will be a thriving market of computer program & AI automated payments in Bitcoin Cash.
- Fiat currency has been eliminated and only exists as a historical relic. Nobody uses government issued currencies for commerce anymore as they have hyperinflated to worthless.
- Other cryptocurrencies or payments (such as commodity trade in gold) will still exist and be in use, but combined together will comprise only a minority (perhaps 20% or less) of global trade, with BCH alone forming the majority 80%+.
- For the technical feasibility of this ambition, see Can Bitcoin Cash scale technically to global reserve currency?.
- For methodology & progress, see How will Bitcoin Cash onboard the entire world? What progress has been made?.
Note that previous globally dominant monies (such as gold, the British Pound or US Dollar) had upper limits to adoption due to geography or politics. Neither is the case for BCH, allowing it to surpass what we currently understand as a "global reserve currency" in the US Dollar.
This process will of course take time, the Bitcoin Cash Podcast expects until 2045 or sooner, but it is also an exponential. Consider that if 50% of the world population was using Bitcoin Cash, almost all of the other half would join up in a matter of weeks. At that size, the Bitcoin Cash economy would be so large, efficient and active that every other currency would be plummeting in value against BCH and switching would be a necessity. Reasoning backwards, the community is working to grow its current adoption to the point the snowball begins in earnest.
For more on this mass compulsion through economic reality, read Speculative Attack by Pierre Rochard.
See also: Hasn't BTC already won?