The future of Bitcoin
There are two main predictions for the future of Bitcoin:
- Dystopia, often associated with laissez-faire capitalism and extreme inequality, hfsp 99%.
- Utopia, often associated with a future in which technology solves everything, wagmi 1%.
Both predictions stem from a Bitcoin maximalist perspective. On the contrary we may consider:
- Bitcoin ossification, and likelihood to be disrupted or replaced.
- The adoption carrying capacity for Bitcoin and cryptocurrency at large.
Bitcoin price fluctuates, and so far in the long term it seems to only go up. The death of the universe imposes a finite limit to that long term, before which the last all-time high will be the absolute time high, i.e. peak bitcoin. The questions normally are how far in the future the peak is and how high it is.
Cross-posted from the Sigmoid newsletter