๐๐ฏ ๐ฆ๐น๐ค๐ฆ๐ณ๐ฑ๐ต ๐ง๐ณ๐ฐ๐ฎ ๐ต๐ฉ๐ฆ ๐ด๐ฆ๐ท๐ฆ๐ฏ๐ต๐ฉ ๐ค๐ฉ๐ข๐ฑ๐ต๐ฆ๐ณ ๐ฐ๐ง โ21 ๐๐ถ๐ฆ๐ด๐ต๐ช๐ฐ๐ฏ๐ดโ, ๐ต๐ฉ๐ฆ ๐ธ๐ฐ๐ณ๐ญ๐ฅโ๐ด ๐ง๐ช๐ณ๐ด๐ต #Ai-๐ฆ๐ฏ๐ฉ๐ข๐ฏ๐ค๐ฆ๐ฅ #Bitcoin ๐ฃ๐ฐ๐ฐ๐ฌ.
This question seems to be on everyoneโs minds these days. In โ๐ฎ๐ญ ๐ค๐๐ฒ๐๐๐ถ๐ผ๐ป๐โ, youโll read answers from knutsvanholm (npub1jt9โฆla9y), TheGuySwann (npub1h8nโฆrpev), and ck (npub1cf3โฆx7gk), that will give you a thorough perspective of Bitcoinโs future value.
Below is CK Snarksโ answer, as written in โ๐ฎ๐ญ ๐ค๐๐ฒ๐๐๐ถ๐ผ๐ป๐โ:
๐๐ ๐ฆ๐ป๐ฎ๐ฟ๐ธ๐โ ๐ฎ๐ป๐๐๐ฒ๐ฟ:
The question at hand is not merely about Bitcoin's price but rather its buying power in a scenario of ultimate success, commonly referred to as "Hyperbitcoinization." To address this, several key considerations must be taken into account:
๐ฃ๐ฎ๐ฟ๐ฎ๐ฑ๐ถ๐ด๐บ ๐ฆ๐ต๐ถ๐ณ๐ ๐ถ๐ป ๐ ๐ผ๐ป๐ฒ๐๐ฎ๐ฟ๐ ๐ง๐ฒ๐ฐ๐ต๐ป๐ผ๐น๐ผ๐ด๐
Firstly, it is crucial to establish whether Bitcoin represents a paradigm shift in monetary technology. If it does, speculating on its future value becomes an exceedingly complex task. The difficulty lies in the fact that we are attempting to measure Bitcoin's value in a world that has fully adopted it as the base measure of value.
๐๐ถ๐บ๐ถ๐๐ฎ๐๐ถ๐ผ๐ป๐ ๐ผ๐ณ ๐๐๐ฟ๐ฟ๐ฒ๐ป๐ ๐๐๐บ๐ฎ๐ป ๐ฃ๐ฒ๐ฟ๐๐ฝ๐ฒ๐ฐ๐๐ถ๐๐ฒ
The challenge of predicting Bitcoin's future value is compounded by our current limitations in understanding. It is akin to expecting someone from 1928 to predict today's stock market value. Our collective knowledge lacks the context to comprehend a future with a perfect and unmanipulable value communication system like Bitcoin, especially when we are accustomed to valuing assets in terms of fiat currencies like the U.S. Dollar.
๐ง๐ต๐ฒ ๐๐ฟ๐ฐ ๐ผ๐ณ ๐๐๐บ๐ฎ๐ป ๐๐ป๐ป๐ผ๐๐ฎ๐๐ถ๐ผ๐ป
To accurately predict Bitcoin's buying power in a hyperbitcoinization scenario, one would need to forecast the trajectory of human innovation over a 50-100 year timescale and then apply that to Bitcoin's monetary policy. This is a feat that very few, if any, can accomplish. Nikola Tesla, who was exceptionally bullish on the potential of electricity, serves as a rare example of someone who might have had the foresight to predict such a paradigm shift.
๐๐ถ๐ฟ๐ฒ๐ฐ๐๐ถ๐ผ๐ป๐ฎ๐น ๐๐ผ๐ฟ๐ฟ๐ฒ๐ฐ๐๐ป๐ฒ๐๐ ๐ฎ๐ป๐ฑ ๐๐๐บ๐ฎ๐ป ๐ฃ๐ฟ๐ผ๐ด๐ฟ๐ฒ๐๐
The most pragmatic approach is to aim for directional correctness based on reasonable expectations of human progress. Given the acceleration of informational technology and computational processing power, it is reasonable to expect that human progress will continue to accelerate. Therefore, Bitcoin's price could be conceptualized as a function of human progress divided by its total supply of 2.1 quadrillion satoshis.
In conclusion, while it is nearly impossible to predict the exact future value of Bitcoin, it is feasible to suggest that its value will be intrinsically tied to the rate of human progress and innovation.
Christian Keroles, known in Bitcoin circles as "CK," has been a passionate and dedicated advocate for Bitcoin throughout his career. He currently holds the role of Director of Financial Freedom at the Human Rights Foundation, focusing on advancing open-source Bitcoin development and global Bitcoin adoption.
In his prior position as Chief Operating Officer (COO) at BTC Inc, CK was instrumental in shaping Bitcoin Magazine into the foremost publication dedicated to all things Bitcoin. He also played a pivotal role in establishing one of the world's largest and most influential conferences in the Bitcoin and fintech industriesโthe Bitcoin Conference.
CK is a sought-after speaker at industry events, where he shares his thoughts and insights on Bitcoin through his written works and interviews.
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