Satoshi’s Bitcoin Vision to Be Realized by 2030 – Details from CryptoQuant CEO

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As an analyst with over two decades of experience in the financial sector, I find Ki Young Ju’s perspective on Bitcoin’s future as a currency intriguing and plausible. His insights are grounded in observable trends, such as the increasing mining difficulty, institutional involvement, and decreasing volatility, which suggest that Bitcoin is maturing towards becoming a more stable, usable form of currency.

The head of an on-chain data collection service called CryptoQuant, who also serves as its founder, recently discussed several significant factors that lead him to believe that by the end of a six-year period, the original concept envisioned by Satoshi Nakamoto for Bitcoin may at last be realized.

“Bitcoin likely to become “currency” by 2030″

Ki Young Ju, the founder and CEO of CryptoQuant, recently spoke to the Bitcoin community about his predictions for Bitcoin’s future as a medium of exchange rather than merely a store of value. He thinks that it is possible for Bitcoin to start being widely used as a currency within the next six years, and he presented several compelling arguments to support this viewpoint.

Initially, Ju pointed out the remarkable surge of 378% in the complexity of Bitcoin mining over the past three years, due to the fierce competition within the industry. He elaborated that back in 2009, when Bitcoin was first launched, it was relatively simple to mine 50 Bitcoins with a single personal computer. However, current individual miners face significant challenges in this field. The mining process is now primarily controlled by large corporations, many of which are supported by institutional investors.

By around 2030, it’s anticipated that Bitcoin will function more like a traditional currency. This prediction is supported by the fact that the mining difficulty, a measure of competition intensity, has consistently reached new peaks, increasing an impressive 378% over the last three years. Whereas in 2009, one PC could mine as much as 50 Bitcoins, now this requires significantly more computational power due to increased competition.

— Ki Young Ju (@ki_young_ju) October 24, 2024

Another way to phrase this could be: “The second point is that as more financial institutions get involved and Bitcoin becomes more popular as an investment option, its volatility is likely decreasing. This suggests that Bitcoin’s potential for having lower volatility may significantly increase, according to Ju.

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Satoshi’s vision of Bitcoin to come true

As a researcher, I am convinced that the increasing prevalence of stablecoins plays a crucial role in transforming Bitcoin into a widely-used currency. Consequently, it’s noteworthy to observe businesses such as Stripe stepping into the realm of stablecoin infrastructure.

According to Ju, April 2028 is significant because it marks when the next Bitcoin halving occurs. He anticipates this event will spark intense conversations about Bitcoin’s capacity as a currency. His rationale being that Bitcoin’s volatility is expected to decrease and the BTC ecosystem is set to mature further around this time.

Ultimately, he explains, the primary factor that will increase Bitcoin’s potential for use as a form of currency will stem from an increase in people’s understanding of cryptocurrency wallets and the widespread adoption of stablecoins.

Ju suggested that as volatility lessens, it’s more and more likely that Bitcoin will fulfill its destiny as a currency,” he told the community. He emphasized that Satoshi Nakamoto, Bitcoin’s creator, originally envisioned Bitcoin not just as digital gold but as “Peer-to-Peer Electronic Cash,” a vision that could become reality by 2030.

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2024-10-24 13:29