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1) The Sacred Wallets -
The Wallets of Satoshi Nakamoto associated with the Genesis Blocks mined when the Block reward was 50 Bitcoin per block.
There has been no activity in these wallets in the form of Bitcoin leaving them.
Donations are sent from time to time to these addresses by presumably only individuals who are just paying gratuity. But, maybe for other reasons too.
No activity is a good sign – should a transaction take place, especially a large one, it would send monstrous waves through the Crypto World – this has not happen so far and is unlikely to happen anytime soon.
2) Federal Reserve – Central Bank of America -
Should the FED go quiet on Bitcoin or show noticeable negativity in action as well as rhetoric – Bitcoin is in trouble.
This, however is highly unlikely – highly unlikely! since it is likely that the FED or an associated Agency... is Satoshi!
3) The Hacking of Bitcoin -
Bitcoin has never been hacked – should Bitcoins Blockchain be hacked, it will be disastrous, at least in the short term.
The SHA256 or Secure Hash Algorithm 256-bit hash function – Largely developed by the NSA National Security Agency of the US, would thus prove to be crackable.
This won’t happen any time within the next 30 years – there are an infinite number of hashes to utilize – more than all the atoms in our universe.
And Wallets – there are 146….followed by 48 zeros (a number rounded down with 50 zeros after it)
There are only 12 zeros in a Trillion - no time soon at all, will a collision or a land on the same address happen with that many possibilities.
It is absolutely Mind Boggling how sophisticated and yet simple Bitcoin is – this in itself errs on the notion that Bitcoin was created by a group rather than an individual.
4) Bitcoin Price Drop to below its price one year previous (excluding peaks) -
Should the price drop significantly below the price per coin one year into its history, that would spell problems – Mining would then be too expensive for most.
To mine one Bitcoin would cost more than its value and without guarantee of near term price recovery, The Shop would start to close and Bitcoins fate would become uncertain.
We came near this territory in 2014 but Mining equipment and operations were nowhere near as high as they are today so it was not a major problem then.
This has never happened in 9 years, so why should it happen now.
5) Persons of Special Interest
Peter Thiel – ‘the canary in the cage’ - person of interest No 1
Peter Thiel would be just another high profile Bitcoin enthusiast like the Winklevoss Twins, Roger Ver, John McAfee and Richard Branson, if it was not for the fact he runs Palantir – a prediction and mapping Data Mining intelligence software company funded into fruition by the CIA and works with numerous other agencies around the world, but particularly in the US.
If anyone is going to a have a heads up on intelligence regarding Bitcoins future – it will likely be him.
It is very difficult to know what Peter does with his Bitcoin but any announcement would be significant.
6) A New Coin or Blockchain surpassing Bitcoin in Market Cap, Transactions per Minute and Attack Surface Integrity.
Another remarkable trait of the Bitcoin Blockchain and almost any blockchain for that matter that most people cannot get their heads around is that it is an organism that was born, grows and develops its immunity to infection or hacking and malfunction as time goes by like any organism.
This immunity, like that of a healthy adult, cannot just be imparted onto a new young specimen or young Blockchain – it has to be built up over time.
So, while other Blockchain and Crypto Projects may show enormous potential – they cannot anytime soon surpass Bitcoin’s significantly robust Attack Surface.
As said, this is only something that can be built up over time – and no other Blockchain has this time
Prodigy like Litecoin and upcoming Bitcoin Cash are close but even they have much ground to make up.
Bitcoin has essentially had the fortune to binge on PrEP (pre-exposure prophylaxis) so to speak - but PrEP Supa Extra + that not only protects from the HIV Virus but any Virus.
Any hopes pinned on true Globalization of a Cryptocurrency would arguably have to be pinned to Bitcoin for the foreseeable future.
Bitcoin by rite of passage and by virtue of first mover advantage will keep it the top ranking contender for some time yet – for if Bitcoin fails, it actually spells the doom for all Crypto generally.
Until we see a computer network surpass the extraordinary global Bitcoin computing power of 256 times faster than that of the top 500 supercomputers combined, we will have little to worry about.
And Bitcoin is in space, now too.
Until these 6 Dominance factors are broken Bitcoin has a sound future where it will again break its all time highs of us$20 000, just like it has guaranteed every 18 months since its inception.
Ptychadina Wealth
I do around 5 hours a day of investment research.
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