2024. 10. 25. 08:51ㆍU.S. Economic Stock Market Outlook
Bitcoin is likely to be used as a "currency" by 2030.
The difficulty of mining, which shows the intensity of Bitcoin's mining competition, is steadily breaking new all-time highs. In the last three years, the difficulty of mining has risen by 378%. In 2009, it was possible to mine 50 BTC with a single PC, but now it has reached a level where it is difficult for individuals to participate in mining. In particular, large institutions, mainly in the United States, are entering mining, and most of their funding comes from institutions.
As barriers to entry into the industry increase and institutions become major players, the industry matures and its attractiveness as an investment asset decreases. This is because volatility decreases. In fact, Bitcoin's volatility is also decreasing over time, and its potential as a low-volatile "currency" will increase after the half-life of 2028.
Meanwhile, various companies such as Stripe are recently entering the stablecoin infrastructure industry. If regulations are overhauled, major fintech companies are expected to quickly drive the popularization of stablecoins within three years.
Around the next half-life in April 2028, Bitcoin's volatility will decrease further and the ecosystem will mature with the participation of institutions. At this time, the possibility of Bitcoin as a "currency" will be actively discussed. At that point, as the public becomes accustomed to using blockchain wallets with the popularization of stablecoins, using Bitcoin as a currency is likely to become a reality. Protocol improvements can lower and speed up fees, use an L2 payment network, or use it in the form of Wrapped BTC. Either way, the use of Bitcoin's currency, which has decreased its attractiveness as an investment asset due to low volatility, will be inevitable.
Satoshi did not try to make Bitcoin digital gold. As the title of his white paper is "P2P Electronic Cash System," Satoshi's dream can be realized by 2030 through the maturity and reduction of volatility in the Bitcoin ecosystem.
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