Time travelling with bitcoin
Tuesday, 25 September 2018
By Sam Volkering
- Time travelling investors
- Knowing the future
Have you ever seen this photo before?
Source: Bralorne Pioneer Museum, Canada
Click to enlarge
It’s from 1940 and shows a crowd gathered at the re-opening of a bridge in a local Canadian newspaper after a big flood.
Now, do you notice anything a bit weird about the photo?
There, on the right. Do you see him?
The man with what appears to be very modern sunglasses seems to be wearing a stamped T-shirt with a nice sweater, all the while holding a portable compact camera.
Not only does he look out of place, he looks out of time!
Predictably, the internet went nuts over this photo. ‘Proof’ for many that time travel is in fact real and that man was a time traveller.
We’re not sure that the opening of a local bridge in provincial Canada would be the first place you’d go to if you’d mastered time travel!
But it’s an awesome photo and story.
And the Canadian time traveller is not the first of this genre.
One of the most famous ‘time traveller’ stories deals with Andrew Carlssin, a man from the year 2256 who appeared in Wall Street in 2003.
Charged with illegal insider trading by the authorities, he came up with the novel defence that he only ‘knew’ what was going to happen next because he was, in fact, a time traveller.
Here’s the paper clipping:
Click to enlarge
Some reports say this story is a complete fabrication. Others say that after Carlssin was bailed out for $1 million, he vanished without a trace…back to the future perhaps?
How much truth or untruth these stories hold, it always brings up the fascinating ‘what if’ question. What if you could travel back in time? What would you do? Who would you see?
And — as Back to the Future fans will know — remember to never, ever meet your parents!
In that famous time travelling film, the villain Biff, does what might occur to many of us — as it did Carlssin. He took back a Sports Almanac to his younger self and told him that he could make a fortune by betting on the correct sports results.
Here’s the thing.
What if we told you that you could do this with bitcoin?
Prophesise the future and potentially make a mint.
Let us explain, after a look at the markets…
Overnight the Dow Jones Industrial Average closed down 181.45 points, or 0.68%.
The S&P 500 lost 10.30 points, or 0.35%.
In Europe, the Euro Stoxx 50 index finished down 20.37 points, or 0.59%.
Meanwhile, the FTSE 100 fell 0.42%, and Germany’s DAX lost 80.06 points, or 0.64%.
In Asian markets, Japan’s Nikkei 225 is up 70.33 points, or 0.29%. China’s CSI 300 is down 0.85%.
In Australia, the S&P/ASX 200 is down 1.00 point, or 0.02%.
On the commodities markets, West Texas Intermediate crude oil is US$72.37 per barrel. Brent crude is US$80.91 per barrel.
Turning to gold, the yellow metal is trading for US$1,200.08 (AU$1,655.15) per troy ounce. Silver is US$14.28 (AU$19.69) per troy ounce.
One bitcoin is worth US$6,436.04.
The Aussie dollar is worth 72.50 US cents.
Knowing the future
Now we’re not going to make any big claims on what the bitcoin price will be in the future. Though as readers of our crypto-focused premium newsletter Secret Crypto Network will know by now, we think ‘a lot’ is probably pretty close.
But they will also know, it’s not the price that interests us the most. It’s what bitcoin — and crypto in general — makes possible.
It’s the technical genius of creating a system that is completely free from anyone’s direct control. We think it will be a huge defence for future generations from all-powerful groups trying to meddle in the private affairs of citizens.
The very backbone of individual liberty and freedom.
These are guesses, though. Predictions to an extent. We may be wrong…
But there are some things we do know about bitcoin’s future.
Check out this chart:
Source: Insider Pro
Click to enlarge
This chart shows something very important.
It shows bitcoin’s price (using a log scale which accounts for the relative strength of price changes) over time as it relates to bitcoin ‘halving’ events.
As you might know, bitcoin is programmed to give bitcoin miners a share of the block reward in exchange for keeping the entire system secure.
It’s an integral part of Satoshi’s genius vision.
This block reward is programmed — so we know ahead of time — to decrease after a certain number of blocks are found.
It literally halves, down from 12.5 BTC to 6.25 BTC the next time we reach such a point.
The next ‘halving event’ is estimated to take place around two years from now, in mid-2020. We don’t know the exact date because there is some uncertainty in the length of time it takes to find a block (though 10 minutes is the average).
But to be clear this will happen.
This is not a guess.
Now, what if we told you we’d came back from the future, back from 2020, and that the bitcoin blockchain was now the protocol for the entire world of finance?
The base layer for all types of transactions.
Imagine…in just two short years from now, shares were traded in a decentralised manner using it. Money was transferred on it. Property titles and medical records were pegged to it.
If you knew this and you knew that because of the halving event there was going to be a lot less bitcoin supply coming on the market soon, what do you think that would do the price?
It doesn’t take an economics genius to work out what that supply and demand equation would do to the price.
And like our Wall Street time traveller, Carlssin with his stocks, you’d be buying into bitcoin big time no doubt!
Now we don’t recommend you do that. Alas, we’re not time travellers. So, only ever risk what you can afford to lose.
(If you’d like to find out how we do recommend that investors profit from crypto, find out more here.)
But, in some sense, you have the ability to peek into the future of bitcoin by understanding how all this works.
Then, by keeping a level head and watching developments as they play out, you can understand the magnitude of the potential outcomes.
This is a huge advantage to you.
Not everyone will be able to do that. They’ll be swayed into emotional decisions created by the price volatility.
We’ve seen this before in the share market. People tend to make bad investment decisions when price is their only guide (unless they can do the opposite of what their emotions want them to do).
On the chart above, the prediction at the next halving point is for bitcoin to be over $100,000 — if it follows the same trajectory as it has in the past. That’s not a guarantee of course. It could be more, it could be less.
But by coming to know how bitcoin works — things like the halving event — we’ll wager you’ll understand more than most crypto investors.
You’ll have the knowledge to see the big picture. And by the time that next halving event comes around, you’ll be in a better place than most to take advantage of this knowledge.
To gain access to that knowledge, again, you can find out more about Secret Crypto Network here.