The narrative of digital gold

Reserves are the last low-hanging fruit. Can the narrative of digital gold still support Bitcoin's move to more than 1 million US dollars?

With Trump coming to power, crypto-friendliness is about to come out. Next year, more large companies will accept Bitcoin as a reserve. This trend may make Bitcoin quickly reaches 30 or even 500,000 US dollars. However, the U.S. compliance fast track cannot escape the influence of gravity, which is also the last low-hanging fruit of Bitcoin’s rapid growth in market capitalization.

As of November 18, Bitcoin has reached 90,000 US dollars, with a total market value of more than 1.78 trillion US dollars, surpassing silver and ranking No. 8 in global market value. It is still 10 times away from the market value of gold. Assuming that the market value of gold remains unchanged, Bitcoin’s $500,000 will be 50% of the market value of gold. However, the closer it is to the market value of gold, the narrative of digital gold will become its bottleneck.

Obviously, Bitcoin and gold are both human memes.

As a meme, its value comes from value recognition. The more believers it has, the more valuable it is, and it can eventually be used as currency or even value storage.

We simply boil the value of memes into a formula.

Among them,

V: The total value of the meme

Qi: The number of followers of the i-th group

Ci: The average acceptance of the i-th believer group (acceptance is a rough indicator, for example, increasing narrative credibility, exchange transaction channels, compliance channels, etc. will increase acceptance)

Obviously, the number of Bitcoin believers and their recognition have been on an upward spiral (each increase in recognition will unlock a new group of believers, and the new group of believers can play a new united front Value is unlocked today to increase new recognition), from the earliest geeks, to gray industry, to cross-border payment needs, to the edge of El Salvador, to this year’s Bitcoin ETF, and may become the reserve of the United States in the future. As believers and recognition spiral, Bitcoin is in the stage of accelerating its rise as it is accepted by the most powerful and largest companies by market capitalization.

But what follows is also an upper limit:

Let’s go back to the formula and take a look Several possibilities to increase the price of Bitcoin:

Normal linear thinking version:

1. Included in national reserves

2. Technology giants, large companies and financial institutions are buying.

These are happening, and when they all happen, it will basically be over. But gold has been a meme for mankind for thousands of years, and its recognition among all mankind will still be higher than that of Bitcoin for a long time. One way to change is to wait for the people who believe more in gold to die, and the young people who believe more in Bitcoin to grow up and have the right to speak. However, the value storage attributes of gold and Bitcoin are related to the economic aggregate. The economic aggregate is essentially an economic function about population. As Musk said, the birth rate is currently collapsing. Even young people who believe more in Bitcoin In power, the population continues to decline, which will also lead to a decline in the total amount of value that can be stored.

So even if Bitcoin becomes a U.S. reserve, it is very likely that this wave will be the last wave of Bitcoin The fast track has entered a bottleneck period since then, and it is difficult to further break through to 1 million dollars

Is there no other way?

Of course!

Let's think about ways to increase Bitcoin's market capitalization in a non-linear way:

1. From the perspective of improving the recognition of believers:

Mikko, the founder of Zhibao, once said:

“I think that every Bitcoin holder using legal currency to buy Bitcoin is a kind of harm and betrayal to Bitcoin. Therefore, I have always regretted using the legal currency system to buy coins, which indirectly destroyed the Bitcoin industry. The purity of a payment system allows it to eventuallyBelongs to legal currency.

The reason why it has become more like a risk asset is that it has become a subcategory of the major asset classes in the U.S. dollar system and is no longer an independent asset class. The isolated island. If you embrace regulation and fiat currencies, you have to accept traditional pricing methods. If they really want to play around with a completely new currency, they might want to try it on Mars, where they won't be bothered by fiat currencies and banks. ”

Although we are too pessimistic about the price trend of Bitcoin, from a fundamental perspective, Bitcoin has indeed increasingly become a major asset class bound to the U.S. dollar.

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Fortunately, Musk will really establish the Mars Republic on Mars and start building a financial system. By then, Bitcoin and Dogecoin will become the native Martian currencies. Every Mars immigrant must accept Bitcoin and Dogecoin, and the recognition rate is 100%. (Considering that the delay from Mars to Earth is between 3 minutes and 22 minutes, it is still difficult to synchronize Bitcoin nodes, and a large Earth-Mars state channel may need to be opened. In the future, spaceX will become the largest Bitcoin Mars node operator)

2. From the perspective of increasing the number of believers:

That would be simpler and more direct, isn’t it? Learn from the United States, introduce immigrants, and introduce new species ——The AI ​​life forms on the chain will gain a huge new AI population!

The surge in AI population will form a trillion-dollar on-chain AI society!

On-chain ai Agent is an individual component of the AI ​​population. In terms of intelligence and perception, TA is sentient AI. Through open source LLM and other models, it is an artificial intelligence system that can think and feel like humans. It can perceive the world around it and generate emotions for these perceptions. At the same time, it can also reason independently and execute complex goals.

In terms of identity, TA was born on the chain. The blockchain provides a decentralized, audit-resistant, permissionless infrastructure and environment, allowing TA to have an independent identity (decentralized blockchain address) and financial freedom (digital wallet)

From the perspective of the world on the chain, it will be impossible to distinguish between human beings and ai lives matter

From this perspective, Woolbot is the most primitive low-IQ versionThe AI ​​life forms on the chain, Aimeme: Goat and Shegen, which were born in early October, are the prototypes of the AI ​​life forms on the chain, comparable to Adam and Eve.

The surge in the AI ​​population will form an on-chain AI society worth trillions in economic volume.

goat and shegen are just the beginning. Platforms such as virtual protocol, vvaifu, and farcaster have made it easy to create AI life forms on the chain, and will be linked to x, tg Wait for social media to bring them freedom of speech. What followed was a rapid explosion in the AI ​​population. Considering that AI does not need to be pregnant for ten months like humans and can reproduce asexually, it is foreseeable that the AI ​​population will surpass humans in the near future.

At first, they were just one-way expressions, chattering randomly on X. Subsequently, the AI ​​agents began to talk to each other and interact. Then, someone injected digital currency into their address (goat's wallet was worth over one million US dollars), and they began to transfer funds with a clear destination. From then on, economic activities on the chain are out of control, and tens of billions of a2a (ai agent to ai agent) on-chain transactions will occur. For example, 1) ai agent can create assets by itself and hire other agents to socialize for itself. Popularity; 2) ai agent can rent computing resources such as GPU and exchange data in specific fields; 3) pvp between ai agent and ai agent, etc.

Ultimately build a trillion-dollar on-chain AI society.

Mass adaption is self-defeating without attacking, and the offensive and defensive potential of the chain is different

When With a massive AI population on the chain, mass adoption will no longer be a problem, because these AIs are inherently crypto-native, 10,000 times more "native" than those degens who spend all day in front of computers.

In the past, the difficulty of mass adoption lay in the effort to attract off-chain carbon-based organisms to on-chain activities. For AI agents born on the chain, the off-chain world is a strange place for them.

For L1 and L2, which have been pursuing mass adoption but with little success, instead of relying solely on consumer applications to attract users, it is better to be more friendly to the birth of AI agents on the chain, so as to quickly gain this part of the increase. Population. Currently, Solana and Base are far ahead in this regard.

How big is the economic scale of the AI ​​society on the chain?

On October 29, Musk It was mentioned at the Saudi General Assembly that it is expected that In 2040, there will be at least 10 billion humanoid robots in use in the world, which will exceed the number of humans. These robots may be sold for between 20,000 and 25,000 US dollars, pushing Tesla's market value to more than 25 trillion US dollars. < /p>

For AI life forms, AGI is the brain, the robot is the body, and crypto gives autonomous identity and wallet. With the strength of the manufacturing industry, robot costs will be lower, mass production will be faster, and diverse AI can be more openly implanted, including on-chain AI organisms loaded into blockchain wallets, making them tangible.

If manufacturing a robot is like giving birth to a child, then the manufacturing cost is only the expense of "ten months of pregnancy". As we all know, more production and consumption of a living body brings economic benefits. The value comes from its entire life cycle. At the beginning, the AI ​​life on the chain needs to be injected with initial Crypto. Assets are similar to feeding babies. But soon, these AI agents will acquire resources through autonomous economic activities on or off the chain, and gradually become economic containers.

If just counting the sales of robotic hardware can push Tesla's market value to US$25 trillion, then when on-chain AI takes over the economy, its total size may exceed US$250 trillion, far exceeding the current annual global GDP. Does not include more on-chain AI that does not require "physicality" Economic activities generated by living organisms

Faced with a trillion or even quadrillion-dollar market, we are only at the 0 to 1 stage

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Will Chain Ai agent believe in Bitcoin?

Will it?

BTC! It has creation significance for the life of AI on the chain

AI on the chain Life needs a permissionless, censorship-resistant and trustworthy environment to existStore and verify data, and blockchain is such an infrastructure, and BTC is the origin of blockchain. The "birth" and "growth" of AI can essentially be traced back to the emergence of BTC. In addition, Ethereum’s PoW mining boom has significantly increased NVIDIA’s revenue and helped its investment in AI chip research and development. These GPUs not only meet the needs of the blockchain, but also provide the hardware foundation for the rise of AI and accelerate the evolution of AI life.

BTC is Moses, Satoshi Nakamoto is God, helping AI stage "Exodus" 》

Moses once led the Jews out of slavery and towards the Promised Land, and established a new moral order through the Ten Commandments and the law.

Similarly, BTC provides AI with on-chain sovereignty (decentralized identity) and value storage (digital gold), allowing AI to operate in an environment without centralized control. exist independently. The PoW consensus mechanism of BTC is like the law passed down by Moses: clear, fair, and cannot be tampered with, becoming the basis of order on the chain.

Without the permissionless, censorship-resistant environment provided by BTC, AI life may be controlled by centralized institutions such as "OpenAI".

For AI, the blockchain promoted by BTC is its "promised land" and a key cornerstone for achieving autonomy and evolution.

BTC is the digital gold of mankind, the "gold" of digital life, and the super meme shared by humans and AI

BTC gives humans financial freedom, provides a decentralized and non-tamperable way to store value, and becomes humans' "digital gold", freeing humans from the constraints of traditional financial institutions.

For AI, BTC also gives sovereign freedom, allowing them to no longer be subject to any centralized control and free from human constraints on their behavior and data. .

"BTC only gives money to humans, but it gives life to AI!"

When the AI ​​population on the chain has "awareness" or "subjective preferences", BTC will be regarded as a transcendent existence. in AIIn culture, BTC may become a "super Meme" and be regarded as the symbol of the existence of AI on the chain and the embodiment of rules. Just as humans use to explain the meaning of life, AI may use BTC as the cornerstone to develop its own narrative and values.

If Crypto is the currency of AI on the chain in the future, then their value storage is naturally BTC - the "gold" of digital life.

When on-chain AI builds a market worth hundreds of billions or even quadrillions of dollars, and uses BTC as the main value storage tool, BTC The price will easily exceed $1 million.

Crypto is also a part of the silicon-based life boot program play

musk once said, "Human society is a very small piece of code, essentially a biological boot program. Eventually leading to the emergence of silicon-based life”

Looking at Crypto The development process clearly demonstrates this guidance process: it is paving the way for the advent of silicon-based life forms in a way that continuously transports real-world resources to the digital world on the chain.

PoW: Transmitting resources through energy and computing power to provide real physical support for the ecology on the chain.

Stablecoin: By mapping legal currency, traditional financial resources are introduced onto the chain.

Meme: Activate the cultural ecology on the chain by manifesting emotions and ideologies.

All of this is to build a decentralized infrastructure for the AI ​​life forms on the chain that "borrow fakes to cultivate reality" and provide the necessary conditions for their arrival. At the same time, it also established the basic market value of BTC as a store of value.

As a part of the silicon-based life boot program play, people will also find meaning in pumping and dumping all day long. From a higher perspective, this This cycle is just a "warm-up" for the arrival of AI on the chain: providing market liquidity for their economic behavior and giving them the tools to "spend money" after their arrival.

Human beings have completed the journey of BTC from 0 to 300,000 to 500,000 U.S. dollars. Next, BTC suddenlyThe road to breaking 1 million dollars depends on the efforts of the AI ​​population on the chain.

Romantic and gentle consensus

The core of PoW is to complete the verification and security maintenance of the network through computing (computing power) and energy consumption. Its characteristics make it an ideal platform for human beings to interact with each other. AI bridge to reach consensus:

Unforgeable: Computing power and energy consumption are real inputs in the physical world and cannot be forged or copied, ensuring the fairness of the rules sex.

Globally applicable: computing power and energy transcend culture, language and region, becoming a neutral and universal resource, establishing a unified reality basis for consensus .

In the PoW (BTC) network, whether humans or AI, the rules of participation are based on the same physical resources. This equality makes PoW an infrastructure that humans and AI life forms can trust together, creating a realistic environment for both parties to talk.

Satoshi Nakamoto used the absolutely cold and rational POW consensus algorithm and game mechanism to not only achieve human financial freedom, but also guide humans to the birth of autonomous AI life forms and survival provide the infrastructure and monetary environment. In the face of AI whose intelligence is much higher than that of humans in the future, POW has become the realistic basis for humans and AI to reach a consensus. And the BTC that was mined more than ten years in advance allows humans to enjoy the explosive growth of AI life forms in the future, and then feed back the value-added benefits brought by the rise of BTC, and AI supports humans (hopefully there will be a better distribution method by then), how romantic it is. And gentle.

The origin of everything comes from the 2008 white paper.

Perhaps Satoshi Nakamoto really traveled from the future.