Bitcoin developer and co-founder of Ethereum and Polkadot, Gavin Andresen (Gavin Andresen) made a super bold prediction about the future of Bitcoin.It is believed that the price of this cryptocurrency may one day exceed 6 million U.S. dollars.
Prior to this, the boldest prediction for the Bitcoin price was that it would one day reach $1 million. It was made by Anthony Pompliano, co-founder of the virtual currency hedge fund Morgan Creek Digital Assets in February this year, but he did not give a timetable.
Andresen gave a timetable, thinking that 40 years later, that is, in 2061, the price of Bitcoin will reach $6 million per coin.
In his recent blog post, Andreson outlined the future development prospects of cryptocurrency.
He wrote: “Imagine that it’s 2061. The price of Bitcoin is $6 million, which is equivalent to $1 million in 2021 due to inflation. Miners will be rewarded with 0.006103515625 bitcoins per block. In addition , There will be a transaction fee of about 5 bitcoins (US$7,500 per transaction) for every 4,000 transactions.”
Gavin added: “But most Bitcoin transactions do not occur on the Bitcoin network. Instead, most Bitcoins are locked in a multi-signature output, protected by multi-party calculations, and mirrored to another chain. As a’packaging’ token.”
Gavin stated that those who are still on the Bitcoin network will be incentivized to keep Bitcoin alive.
However, Gavin said that by 2100, even these users may leave the blockchain. “In 2100, the whales noticed that the reward for mining was basically zero…In the end, there was no new Bitcoin production on the Bitcoin network, and no Bitcoin circulating on the Bitcoin network. There is nothing to ensure. , The chain stopped.”
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