The Bitcoin Power Law suggests a predictable trajectory for BTC’s price, mirroring the patterns seen in natural phenomena ruled by power laws. BTC proponents Fred Krueger and Giovanni Santostasi devised a formula, (Estimated Price = A times (days from GB)^n), with GB denoting the Genesis Block and (n) being set at 5.8, to map out BTC’s price journey from its start.
Notably, this model not only accurately reflects bitcoin’s historical price changes but also anticipates a rise to $1 million per coin by 2033, eventually reaching an impressive $10 million by 2045. Krueger, a staunch advocate for BTC, frequently references Hal Finney’s prediction of a $10 million value, aligning it with their price model.
“As an amusing thought experiment, imagine that bitcoin is successful and becomes the dominant payment system in use throughout the world,” Finney said in 2009. “Then the total value of the currency should be equal to the total value of all the wealth in the world. Current estimates of total worldwide household wealth that I have found range from $100 trillion to $300 trillion. With 20 million coins, that gives each coin a value of about $10 million.”
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