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Thesis: Bitcoin will forever be the currency of the internet. This write up will contain information about where we are in the world, the role Bitcoin will play in it, and most fun - Price Predictions! I've spent over 1000 hours trying to wrap my head around this revolution. Let's begin. The Internet has changed the world forever in such a small period of time. People forget the internet became a global sensation only in the 1990s, and look how far it's come. The entire WORLD now runs on the internet, and WILL continue to run on the internet. We are currently living in The Exponential Age at this point in history. Technology is evolving the world at a rate faster than ever before in HISTORY. Simply put, the world is moving at light speed. Shown in the graph below, the internet is the fastest developing idea/product in the entire world. As a comparison, the distance of time between the creation of the Light Bulb and invention of the Internet is approximately 143 years apart. The difference between the creation and Internet and Automated Self Driving Cars (FSD) is only is only approximately 30 years apart. Please let that sink in how complex it is to create AI vehicles that humans can trust to bring them to their needed destinations. Only 50 years before that we never could have even dream how to build such an idea. That one idea is only one of millions of innovations that's happened in the past couple decades. The internet has exponentially been solving problems since inception. Examples such as Social Media, Smart Phones, Artificial Intelligence have given the world a new way to connect, and forever interact with the digital world at large. We are at a stage in technology where the internet has a literal voice. The internet is becoming an everyday citizen of the world. Check out "Sophia" the robot! Now that we've explained The Exponential Age, where does Bitcoin fit in? Bitcoin was created by an unknown person who went by the name "Satoshi Nakamoto" on January 3rd, 2009. Satoshi's vision was to create the first EVER proper form of Digital Money. This Digital Money needed to have a fixed supply, be secure, and permissionless. With Bitcoin, there is not a single person in the world that has the power to turn the system off, alter or block a transaction, or alter the max supply of this new currency. System never turns off: Digital Money that runs 24/7 for the rest of Human and AI's total existence. Be Secure: It is impossible to exploit the network, change the network, or devalue the network. Fixed Supply: It is mathematically impossible to devalue the money against itself. There is no inflation. On Dec. 13, 2010, Satoshi officially resigned from working on Bitcoin and handed the project off to the world to complete. Bitcoin's core values had already been set, and it was up to the world to keep it safe, secure, and forever running. Fast forward to today, Bitcoin is running flawlessly, and is absolutely thriving in adoption. Nobody knows who Satoshi is today, or if he's even alive. Currently, Bitcoin usage is growing at an exponential rate, as information about it and it’s ease of access is taking the world by storm. Check out this chart displaying how the Bitcoin adoption is growing at the same speed as the adoption of the Internet. We've already hit a $50,000 BTC in 2021! Internet Adoption VS 2020 BTC Price We can also see the Bitcoin number of Active Addresses (Users/Wallets) increasing exponentially as the price rises (bringing more attention to the asset) Adoption is moving fast. But why does the world even need Bitcoin anyways? The world technically revolves around Money. Money and economic incentives drive the world to be forever evolving space, as well as allow us to earn resources needed to live. Currently, the entire world is being plagued by money that is being devalued, assets that are being inflated, and people who are losing faith in the current system. People are getting desperate, they’re looking for an alternative, it’s getting bad. Bitcoin is the solution to these peoples problem, and very fast are many starting to notice. If you're reading this in 2022, check how EARLY we are, and how exponential we are about to grow. Congratulations to all BTC holders out there. Billionaires are buying it, country’s are adopting it as an official currency, the US government is accepting it for tax payments, and the world is trying to go greener to acquire it. The list goes on. This is all happening within a short decade. The demand for Bitcoin will only continue to accelerate from here. The toothpaste cannot be put back in the tube. Bitcoin is taking the world by surprise and there is no stopping it. The world’s finally taking advantage of this fair, secure, and incorruptible money. The world is learning to store its wealth on the Bitcoin network. It is a black hole sucking up the world's corrupt, controlling, and unlimited supply of Government money. People are taking back control of what hard earned money is all about. Bitcoin is digital gold, it is financial freedom, and it is the future of economic energy. Theoretically, because Government money has an unlimited supply, the price of Dollars per Bitcoin can go to infinity when compared to it as Bitcoin has a max supply. So why do we want to get in early? The reality is, governments cannot stop printing money. It is impossible to stop printing money, and with Bitcoin having a forever fixed supply of 21 million coins, it mathematically will 100% continue to rise in value against a currency that has a maximum supply of infinity, assuming there is demand for Bitcoin. (The strongest currency) Read what I said above again. The price of Bitcoin is literally going to infinity against the dollar. Bitcoin is number go up technology against ALL currencies of the world. Year after year, dollars are purchasing less, and Bitcoins are purchasing more. Bitcoin is exponentially increasing in purchasing power. Bitcoin mathematically is the strongest currency in the world. It is a perfect place to store long term wealth, and exchange economic value with another entity. The question that lead many of us down the Bitcoin rabbit hole is, how high can Bitcoin price go? In Short, the price per Bitcoin valued against the Dollar should be anywhere between $500,000 and $4,600,000. That's right, Bitcoin is EASILY going to 1 MILLION DOLLARS a coin by 2030. We are so early. The world has a lot of money in it. The world's money is beginning to fly into Bitcoin as we speak. The chart above will show us that Public Companies are beginning to HORDE Bitcoin, as they see it as an essential asset to hold on the balance sheet of their business. Many of these companies are taking Bitcoins off the market, and they will NEVER return or be resold for dollars. Bitcoin is the easiest asset to maintain, and the greatest asset to hold over a long period of time. Everyone is making a lot of money off this. Everyone needs a piece of it. The kicker is, we are going into a transformational time in history. Inflation rates are at record highs, reaching 10% a year in most of the world. (This is conservative) The Global BOND market is worth approximately $100T. All this money placed in bonds is literally LOSING investors money. If inflation is at 10%, and you are earning 2% on your bonds, you are "safely" losing 8% a year on your investment. The math is that simple, and it is that sad. We can now say at least 30T of these bonds are smart enough to notice within the next couple years that the money placed inside them need a new home, the whole Crypto industry and Bitcoin itself is that black hole that is going to suck up a large portion of it. (Crypto Industry is currently only worth $2.5T at the time of writing this) With all this money coming, and adoption growing exponentially, what prices per Bitcoin could we expect? Maybe this is something for you to study yourself, but I'll give you an idea of models and ideas to study to get you on the right track. These Price Projections, Models, and MATH have been provided by James from InvestAnswers. Check him out on YouTube! https://www.youtube.com/channel/UClgJyzwGs-GyaNxUHcLZrkg Price Projections by 2030
I like to give conservatives price predictions for BTC. Realistically, any of these could be correct. The math just works, it's not hopium, it's not inaccurate, this is REALISTIC. I expect a $1M Bitcoin by 2030, and I have put my money where my mouth is. The question is, should you invest? Yes. NFA! Take a leap of faith, this is all very possible, and will likely happen. Keep in mind, Purchasing Power of $1M in 2030 will not be $1M. This is true because of how inflationary the dollar is. See below what happens when BTC = $1M a coin with varies inflation rates. This is why we need sound money that does not devalue against itself. (Bitcoin if you haven't understood that yet) Get ready to see Bitcoin being accepted as payments at all your local stores, and sent between all your friends. It's only up from here. Bitcoin and Crypto as an industry is a 50X opportunity from here over the next decade or two. This $2.5T asset class is going to $100T. (Similar to the Stock Market and Real Estate total market) Study hard, study often, pick the right assets, and enjoy the gains. The question is: WHEN MOON? Stack your bags, do your DD, and happy investing! Again, NFA! DISCLAIMER: THIS IS NOT FINANCIAL ADVICE. [link] [comments] |
Sunday 3 April 2022
I'M ALL IN: Bitcoin & The Exponential Age.
Hypothetically, How can SPV servers make money in the future when their hardware price increases to needing thousands of $$$ in new storage each year to maintain a historical node?
Bitcoin white paper mentions how institutions can be the ones who run the SPV servers but even then, how do they recover the money needed to buy hard drives if our Blockchain gets huge with billions of transactions a day? 5 billion transactions a day would be about 0.5pb a year
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source https://www.reddit.com/r/btc/comments/tuoz5d/hypothetically_how_can_spv_servers_make_money_in/
Saturday 2 April 2022
Billionaire Mike Novogratz has called for a softer stance on Bitcoin and other Crypto
Mike Novogratz, an American investor and billionaire, says he is much more optimistic about the cryptocurrency market now than he was a month ago. The current CEO of Galaxy Investment Partners explained that bond sell-offs and increased crypto adoption have boosted cryptocurrency prices, particularly bitcoin.
Explaining why he is more optimistic now about Crypto than he was six to seven weeks ago, he said that maybe what he got wrong about making money in fixed currency was that money has to go somewhere.
He also prophesied earlier this month, when BTC was struggling to push through the $40,000 barrier, that bitcoin's price would range somewhere around $30,000 and $50,000 for the rest of the year.
According to Bitcoin.com Markets, bitcoin is currently trading at $47,327 at the moment of writing. He further explains that the adoption of crypto is fast increasing and will only continue to increase
He then commented on President Joe Biden's executive order on cryptocurrency regulation. "It was very interesting in that presidential decree because there was no Elizabeth Warren's or Gary Gensler's voice in that thing, and they'd been running crypto policy until then." "That's a plus," Novogratz said. Many in the crypto space share his optimism, viewing Biden's executive order as beneficial to the crypto space.
In summary, more personalities are beginning to see the benefit of crypto. It not only posses financial benefits, it also possesses Environmental benefits by reducing the use of cash.
With all these it should be noted that crypto is still in its early stages and with cryptos like $Darc and $Polygon recently arriving on crypto marketplaces, it is clear that crypto is the future of finance and we can only witness Blockchain reach greater heights.
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source https://www.reddit.com/r/btc/comments/tty0sr/billionaire_mike_novogratz_has_called_for_a/
The carbon footprint of Bitcoin and miners is decreasing
All the attention and reprimanding from mass media has finally gotten to Bitcoin miners it seems and many are trying to make a greener world and attempting to decrease their carbon footprint.
CoinDesk recently run a report on a Northern Italian small municipality using hydropower to mine Bitcoin.
“The northern Italian regions bordering the snowy Alps are home to dozens of hydroelectric power plants in a range of sizes, thanks to the abundance of water and varying altitudes. TRENTINO, ITALY – Daniele Graziadei, the 37-year-old mayor of Borgo d’Anaunia, a small municipality in the northern Italian region of Trentino-Alto Adige, entered the 100-year-old Alta Novella hydropower plant with familiar ease.
This year, under the leadership of Graziadei, Borgo d’Anaunia, home to around 2,500 people, became Italy’s first municipality to run a crypto data center.”
In fact, this is not the only case of its kind. Another Swedish village has been using mining rigs to power the electrical rig too.
“Around 15,000 cryptocurrency mining rigs are humming away at HIVE Blockchain’s (HIVE) 30 megawatt (MW) data center in Boden, Sweden. But not all the time. Sometimes, the facility powers down to help the local grid. The data center, drawing cheap energy from local hydropower producers, acts as one of the largest, if not the largest, active energy reserves the Swedish grid can call upon whenever there are major disturbances to the local power supply. The facility can shut down its machines almost instantaneously so that energy can quickly be diverted to public use.”
It now seems to be the case that Bitcoin and Bitcoin miners are not just decreasing their carbon footprint, but make the world greener too.
Full disclosure, this could be even easier with the advent of DeFi into the scene. Once community-run DAOs get the upper hand in rule, people could actually vote for what comes to benefit them, rather than be bound by the choices of centralized corportations. Some DAOs like the Alps foundation, or Hive or even Aloha DeFi provide a new world for users all around trying to get the best of all these worlds. DeFi DAOs, NFTs and everything that will make the future cleaner, greener and better.
The incentives between energy producers and miners are so aligned that soon it might be difficult to draw a line between the two. More energy firms are entering mining, while miners are accumulating their own energy supply. Voltus has created models to determine exactly how much flexibility is worth to crypto miners: in Texas, $37.53 per megawatt hour, whereas in New England, it’s $6.69. per MWh.
Energy companies that stay out of bitcoin mining will leave money on the table, “because mining most of the time is much more profitable than selling the energy to the grid.”
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Bitcoin-Core devs announce they will be increasing the block size.
Bitcoin-Core devs have announced that they will slowly be phasing in a new block size increases. The first new code will be committed today for new releases of Bitcoin Core.
As we know, almost every BTC block is full, and the transaction fees have been huge.
About 1 year from today, on 2023-04-01 the block size will increase 1MB. Then again on 2024-04-1, and again on 2025-04-01, and will continue as long as they have support from the miners.
So if you follow the pattern, the block size will increase 1MB every April 1st. Why April 1st? Because Happy April Fools Day!
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source https://www.reddit.com/r/btc/comments/ttxytw/bitcoincore_devs_announce_they_will_be_increasing/
The Bulls are back! Bitcoin almost hit 48k again! Was on the verge of a 9-day Win Streak.
BTC was about to hit a nine-day winning streak — but couldn't, as its recent price momentum appeared to have slowed down at least temporarily.
This was maybe due to the exploit that Axie Infinity’s Ronin Network suffered. It was a $625 million hack, which is probably the largest exploit in DeFi history!
But the dip has been bought up as bitcoin remained above $47,000, a sign of great strength amidst the news of the hack. Even AXS, the governance token for the Axie Universe held up quite strongly. This builds faith in retail investors that the fundamentally sound projects such as Plastiks, Decantraland, and Sandbox that are linked to the NFT marketplace will likely show strength as well. Plastiks serves as the bridge between plastic producers and recyclers, where you can tokenize your recovery data for monetization. Decentraland allows you to buy and sell digital real estate, while exploring, interacting and playing games within their virtual world. And, Sandbox provides a virtual environment where you can build, own, and monetize your gaming experiences! Such projects will very likely thrive as BTC trends up.
Further, the 8 consecutive green days seen on the BTC chart are interesting because in the past decade, Bitcoin has had an 8-day win streak only 16 times. And most of those streaks were back in the very early days. In addition, each such streak has led to massive rallies, so we might see a six-figure BTC by the end of the year! Fingers crossed
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source https://www.reddit.com/r/btc/comments/ttxlyb/the_bulls_are_back_bitcoin_almost_hit_48k_again/
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Crypto is pretty much the only reason I used Reddit anymore, and I'd like to stop using this website. submitted by /u/TheTruthHas...
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submitted by /u/FearlessEggplant3036 [link] [comments] source https://www.reddit.com/r/btc/comments/12gt49l/supposedly_insiders_in_t...
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submitted by /u/KillerHurdz [link] [comments] source https://www.reddit.com/r/btc/comments/a6bm9y/discussing_bitcoin_power_dyn...
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