Quicker post than usual confirming my early 2018 post on the promise of bitcoin. The title was confusing because unsophisticated readers would understand only 1 bitcoin vs 1 once of gold, though "worth more" was a reference to the value of all of the bitcoin compared to all of the gold. All of the major arguments for bitcoin were made then and are still valid today.
The major thesis of this paper is that for the next 70 years, bitcoin value will at least double every 4 years. This schedule is premised on the mining reward adjustment (halving) that takes place every 4 years, that value equals utility and technology and adoption increases utility and value.
Charts and graphs
The charts in this paper are calculated from daily data provided at blockchain.com from August 20,2010 to March 28, 2021. A price of $0.01/btc is added for August 19. Most of their data points are separated by 3 days. The highest price in their data is $57,665 on March 12, and last price in data, $55863.
|Bitcoin Price History|
Number of days it took bitcoin to increase 900% in price
|4 year bitcoin return on investment (Price as multiple of 4 year earlier price) -start date of spring 2015|
|Projected bitcoin high price by year (in thousands) as function of 2021 high|