2140
Bitcoin (BTC) will eventually be $1. Hear me out.
Here are my thoughts on it. But story time first, cause that is the only way I know how to paint a picture.
I’ve somewhat been following the progress of crypto currencies since BTC hit my radar, which was sometime in 2012. A little late to the picture I know, but it certainly peaked my curiosity. There were a whole bunch of new terms you’d have to learn to understand the general idea of it.
But the idea painted a wonderful picture for a person like me, a person that hates corruption and thought that the concept of a blockchain was completely and utterly revolutionary. Satoshi, whoever that is, is a complete legend, created a system that required everyone in the system to protect the foundation and integrity of the network.
I eventually did not care much about BTC because it was mainly used as a financial instrument. As expected for such a technology, it found its way and gained momentum in the underbelly type activities, drugs, gangs, and so on. But Satoshi placed a message in the very first block in the blockchain that read,
“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”
This was in the aftermath of the 2008 global financial crash. There have been many financial crashes which I’m sure sparked the Bitcoin-Blockchain project. A centralized financial system had many flaws and was susceptible to attacks of all kinds. A decentralized network was the only logical response. So simple, yet extraordinary. BTC was designed as an instrument to protect your wealth.
But BTC does have a few flaws. A worldwide outage to the internet, it’s own economics, it’s volatility, you losing your key (password), energy consumption, slower transaction speeds and many more.
The idea stuck with me. Decentralization. Placing information on the block that cannot be hacked/changed. I’m aware that some chains have been hacked but I suppose anything is possible as technology grows at a near exponential rate.
We are living in the greatest time possible, but with the lousiest leaders. I 100% had a savior/god complex. I was fed up with this world. The decentralization idea was arguably the best solution to literally all our problems, at least at a foundational level. But how?
The blockchain industry started to revolutionize, Ethereum (ETH) came along and opened my eyes a bit. A new dimension, contracts, was introduced, how interesting. Setting conditions to payments and it drew my mind to the construction industry. Payments in phases or upon completion, but the industry requires a little flexibility. I loved the idea anyway and bought 7 ETH at $120. Now I hold 0.5 only. =(
Soon more and more crypto’s started emerging and the industry started to feel like a circus. You were spoilt for choice but they all revolved around mostly financial instruments. These were not revolutionary per say, they were derivations with quicker and cheaper ways to transfer money. At that point in my life, I despised the financial markets, I understood it well enough to blanket them as the root of all evil(s). I’ve changed my mind from that, very recently.
I only check out tokens/currencies that I stumble across on either my brokerage platform, YouTube or news outlets, so do take what I’m about to say with a pinch of salt, or a setback to my limited understanding of the topic. Out of all the tokens that I’ve been interested in the ones that stood out the most are Filecoin and Hedera Hashgraph (HBAR).
Preserving non financial information and non-linear blockchains. Ahh, things are spicing up. My imagination is being validated slowly but surely. Accountability is massively absent in todays community and lets fast forward to many decades later. A world where everyone literally depends on the block for day to day function. In a world without corruption, it is imperative that we transition to it.
Preventing financial corruption, balancing social corruption, recording human order/disorders qualitatively & quantitatively, ensuring supply chain efficiencies, records for safekeeping/gatekeeping, but overall, maintaining and improving a productive society, through an agreed upon framework/system.
Essentially building a blockchain of sorts that will not only read/write information, but is also used to navigate an AI that operates on absolute truths. An intelligence that uses facts to help us navigate our day to day function better. It will be used to bring balance and order to the world without the use of force, or subjugation.
But is it possible to build a universal system that promotes free will? At least with more free will than we have today? How do we make such an AI that would also honor God? Topic for a different day. But if you read my previous posts, you might have an idea about what I will say.
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Blockchain has the potential of becoming the greatest auditing tool we have. Question is, how do we use it to achieve our goals of unifying the world. A decentralized worlds next step should be unification, right? I’m sure a person like Satoshi glimpsed into the future and saw unity. He didn’t trust the governments, he trusted the people.
I don’t know if I know his overall outlook, or his ideologies, but he was definitely a rebel with a cause, and that cause was taking back a huge amount of power from the government. Don’t know if he saw the governments owning a decent chunk of BTC, but everyone with good intentions tend to have some part of it backfire against them. But I do wonder what his foresight of BTC was.
Anyway, a future like the one I shared above will require plenty of memory and we’re all aware that 1 block is about 1MB, largest being 3.993MB. 1MB isn’t much space when you think of it, but have you seen a 1MB picture? Dimensions have to be broken to make progress and this is a dimension I’ve been hoping to see broken in the the crypto space.
I am suggesting using colors as codes in the block. Color depths/ deep color exist from 8-bit to 48-bit. The largest, 48-bit allows for 281 trillion possible colors with a 1MB ‘picture’ having nearly 175,000 pixels. That is 281 trillion unique codes, which means a transfer rate of 175,000 packets of information. Will this make it more efficient? Less efficient? I have no idea, but the reason I came up with this was because I thought, if we tried to put EVERYTHING on the blockchain, we’d need to find a way to organize and manage both qualitative and quantitative data as fast as possible. Colors was the only logical idea.
But storing it is one issue. How about retrieving it most efficiently? What shapes make sense? That was one of the reasons I liked HBAR. Hexagons are the most efficient shape, but how do you stack them? Tiles? In a cube? In a globe? Stacking Hexadecachorons? A 4D Icosahedron? Apparently we can’t yet merge the AI and blockchain technologies together, but my vision of the future requires multiple AI’s on multiple blockchains to organize, manage, store, retrieve and merge with real world applications.
Why? Well
- It would be the most efficient way to paint a picture and provide evidence of it, for future generations lets say 2000 years from now. If we’re arguing about history from 50 years ago, we need solid evidence that we’ve found the only way, and provide evidence of progression through times that the future should be aware of.
- It would take a while before we determine 10 types of frameworks, let alone 2 to usher in the new framework/system of the future. Statistics won’t help, we’ll need hard evidence of root problems to perfectly steer us into the future.
I am excited for the future. But I am also terrified of it. In the right hands, technology can help unite and prosper us, in the wrong hands, such a technology could predict the future and be used to further regress our species. It is important that should a technology such as this exist, it remains decentralized indefinitely. Existing in multiple layers, audited regularly, completely transparent including the AI but most importantly, is owned by no one and everyone simultaneously.
I would like to think that Satoshi envisioned a similar future, where the blockchain would be used to eventually unite everyone under 1 umbrella. Where everyone knows their roles in society and we’re no longer separated especially by income and wealth. Complete decentralization. By 2140 or perhaps even in the next couple of decades, he may transfer all of his BTC to that one company/trust he admires, solidifying their presence for much longer.
There is a correlation between the US economy and BTC, global currencies/economies and BTC, and the higher BTC goes, the more painful it’ll become for the average Joe. I hope I never see BTC hit 1 million or more.
BTC is an indicator and will remain ‘digital gold’ until we achieve ‘unification’ as a society, which I think will come AFTER merging the system & more, with the chain. After which BTC will be a thing of the past, or it’ll be adopted by the next failing system. Eventually, the need for BTC will drop, and it’ll surely drop to $1.
In simpler words, the higher BTC is, the more f&cked our future is. I’ve already given a decent chunk of the solution through my pieces, but it’ll need rewriting cause I am far too imperfect. I just hope it’s practical enough to set your imaginations abuzz. Anyway, more will come, so stay tuned. =)
Unify!
This is part of a series under “Project Kuchiku”, a project designed to help Fix the Future through Platform Building.
Please help this imperfect soul try to perfect this project by contributing $1/month here and share this idea of a better future with potential futurists. Arigato =)
