The Bitcoin Time Traveler
The mysterious figure known as the Bitcoin Time Traveler continues to captivate the Cryptoverse with the supernatural accuracy of his price predictions for Bitcoin until 2019.
Whether his insights stem from a different timeline or a bizarre time paradox remains a riddle. Although the author has since amended their original post and mentioned how it blew up, several more predictions are now materializing before our very eyes.
We dive into the enigmatic predictions and speculations surrounding Bitcoin’s future and explore the fascinating story that has captivated the crypto community since 2013!
The Bitcoin Time Traveler
Transcript:
2013 was a time when Bitcoin was gaining a lot of popularity, while the price was soaring high, surpassing $100 for the first time.
Around the same time, a Reddit user with the nickname Luka Mangotta published a post on Reddit that caught everyone’s attention.
The poster immediately captivated Reddit since he claimed he was a time traveler coming from the future.
The post in question became popular mostly for its long-term price predictions for Bitcoin. Clearly, a hoax, yet the internet was intrigued by the accuracy of the predictions made by this mysterious person.
“I am a time traveler from the future, here to beg you to stop what you are doing.
I am sending this message from the year 2025. Things are looking bleak here, and some of you will carry blood on your hands.”
“If you don’t believe me, please move on, as I have no way of proving to you I’m really who I claim to be.”
“I don’t want to waste any of your time, so I’m merely going to explain what happened. On average, every year so far, the value of Bitcoin has increased by about a factor of ten. From 0.1 dollars in 2010 to 1 dollar in 2011, to 10 dollars in 2012, to 100 dollars in 2013. From now on, there’s a slight slowdown, as the value increased by a factor of ten every two years, to 1,000 dollars in 2015, to 10,000 in 2017, 100,000 in 2019, and 1,000,000 in 2021. From here onwards, there’s no good way of expressing its value in dollars, as the dollar is no longer used, nor is any central bank issued currency for that matter. There are two main forms of wealth in today’s world: Land and cryptocurrency.”
“There are just over 19 million Bitcoins known to be used in the world today, as well as a few hundred thousand that were permanently lost, and we’re still dealing with a population of just over 7 billion people today. On average, this means the average person owns just under 0.003 bitcoin. However, due to the unequal distribution of wealth in my world, the mean person owns just 0.001 bitcoin. That’s right, most of you reading this today are rich.
I personally live next to an annoying young man who logged into his old Reddit account two years ago and discovered that he received a tip of 0.01 Bitcoin back in 2013 for calling someone a faggot when he was a 16-year-old boy. Upon making this discovery he bought an airline ticket, left his house without telling anyone anything, and went to a Citadel.”
The $10k prediction which materialized in 2017 prompted a renewed interest in this Reddit post, with popular YouTubers mentioning and adding the Bitcoin Time-Traveler to their content.
Yet, the article wasn’t just about price.
It presented a grim future for mankind, with Bitcoin being partially responsible for it.
The Citadels!
“What is a Citadel you might wonder. Well, by the time Bitcoin became worth 1,000 dollars, services began to emerge for the “Bitcoin rich” to protect themselves as well as their wealth. It started with expensive safes, then began to include bodyguards, and today, “earlies”, our term for early adapters, as well as those rich whose wealth survived the “transition” live in isolated gated cities called Citadels, where most work is automated.”
“Most such Citadels are born out of the fortification used to protect places where Bitcoin mining machines are located. The company known as ASICminer to you is known to me as a city where Mr. Friedman rules as a king.”
This was the first mention of a Bitcoin Citadel ever and how the lore began.
We find discussions on this topic years later, and as of today, for some Bitcoiners living in a Citadel is quite probable.
Bitcoiners expect the price to rise even higher and reach even one million dollars, and for those who will become wealthy enough it will probably be too dangerous to live out in the open.
The Bitcoin time-traveler describes the Bitcoin Citadel as a safe-house for wealthy Bitcoinners. It gets more interesting since the events predicted are particularly relevant in recent days.
“In my world, soon to be your world, most governments no longer exist, as Bitcoin transactions are done anonymously and thus most governments can enforce no taxation on their citizens. Most of the success of Bitcoin is due to the fact that Bitcoin turned out to be an effective method to hide your wealth from the government. Whereas people entering “rogue states” like Luxembourg, Monaco and Liechtenstein were followed by unmanned drones to ensure that governments know who is hiding wealth, no such option was available to stop people from hiding their money in Bitcoin.”
Governments Buy Bitcoin
Governments tried to stay relevant in my society by buying Bitcoin, which just made the problem worse, by increasing the value of Bitcoin. Governments did so in secret of course, but my generation’s “Snowdens” are in fact greedy government employees who transferred Bitcoin to their own private account, and escaped to anarchic places where no questions are asked as long as you can cough up some money.
The four institutions with the largest still accessible Bitcoin balance are believed to be as following:
-ASICminer — 50,000 Bitcoin
-The IMF’s “currency stabilization fund” — 70,000 Bitcoin
-Government of Saudi Arabia — 110,000 Bitcoin
-The North Korean government — 180,000 Bitcoin
Today we have the case of El Salvador, however this example is the only one with a government that has adopted BTC as a currency, with many Bitcoin narratives built on top of it.
The Bitcoin Time-Traveller” mentions the top BTC holders and the reality is not very different.
Some of the top economies maintain massive BTC holdings, and there have been signs North Korea has been hoarding cryptocurrencies for a long time.
It is also worth mentioning that China holds approximately 200,000 BTC seized from the PlusToken Ponzi in 2020 and various other cryptos while there has been no news of China having sold any of them.
The US government also holds 80,000 Bitcoins from a newly seized Silk Road wallet and more than 100,000 which it recently seized after the arrest of the Bitfinex hackers. Finally, the Bulgarian government is rumored to control more than 200,000 Bitcoins, seized after the arrest of Bulgarian criminals in 2017.
Economic Growth
“Economic growth today is about -2% per year. Why is this? If you own more than 0.01 Bitcoin, chances are you don’t do anything with your money. There is no inflation, and thus no incentive to invest your money. Just like the medieval ages had no significant economic growth, as wealth was measured in gold, our society has no economic growth either, as people know their 0.01 Bitcoin will be enough to last them a lifetime. The fact that there are still new Bitcoin released is what prevents our world from collapsing so far it seems, but people fear that the decline in inflation that will occur during the next block halving may further wreck our economy.”
The time traveler describes a hypothetical situation where the world economy is experiencing high deflation and technological progress has stalled, resulting in an economic dystopia with limited progress and conditions resembling the Middle Ages.
Therefore, in such distressing financial conditions it is highly likely the people will revolt.
Anti-Bitcoin Terrorism
“What happened to the Winklevoss twins? The Winklevoss twins were among the first to die. After seeing the enormous damage done to the fabric of society, terrorist movements emerged that sought to hunt down and murder anyone known to have a large balance of Bitcoin, or believed to be responsible in any way for the development of cryptocurrency. Ironically, these terrorist movements use Bitcoin to anonymously fund their operations.”
“Most people who own any significant amount of Bitcoin no longer speak to their families and lost their friends, because they had to change their identities. There have also been a few suicides of people who could not handle the guilt after seeing what happened to the bag-holders, the type of skeptical people who continued to believe it would eventually collapse, even after hearing the rumors of governments buying Bitcoin. Many people were taken hostage, and thus, it is suspected that 25% percent of the “Bitcoin rich” actually physically tortured someone to get him to spill his password.”
“Why didn’t we abandon Bitcoin, and move to another system? Well, we tried of course. We tried to step over to an inflationary cryptocurrency, but nobody with an IQ above 70 was willing to step up first and volunteer. After all, why would you voluntarily invest a lot of your money into a currency where you know your wealth will continually decline? The thing that made Bitcoin so dangerous to society was also what made it so successful. Bitcoin allows us to give in to our greed.”
The story resembles a typical time-traveler scenario, possibly influenced by the movie 12-Monkeys, which also shares a group of people trying to visit the past and stop the spread of a virus. Bitcoin replaced the virus, in this case.
The Division Of Africa
I had to omit this part as the video was already dragging the concept too much and felt it wasn’t as relevant or necessary to include.
“In Africa, surveys show that an estimated 70% of people believe that Bitcoin was invented by the devil himself. There’s a reason for this. It’s a very sensitive issue that today is generally referred to as “the tragedy”. The African Union had ambitious plans to help its citizens be ready to step over to Bitcoin.”
“Governments gave their own citizens cell phones for free, tied to their government ID, and thus government sought to integrate Bitcoin into their economy. All went well, until “the tragedy” that is.”
“A criminal organization, believed to be located in Russia, exploited a hardware fault in the government-issued cell phones. It’s believed that the entire continent of Africa lost an estimated 60% of its wealth in a period of 48 hours.”
“What followed was a period of chaos and civil war, until the Saudi Arabian and North Korean governments, two of the world’s major superpowers due to their authoritarian political system’s unique ability to adapt to the “Bitcoin challenge”, divided most African land between themselves and were praised as heroes by the local African population for it.”
We all have to understand the issues with centralized or custodial wallets and platforms and where the real value of cryptocurrencies lies. When we don’t control the private keys we have no control of our funds.
The fictional future as expressed by the Bitcoin Time Traveler is not too far from our reality although the geopolitical scenario is probably entirely impossible to happen.
Even if a government adopts cryptocurrency, the point is self-sovereignty, controlling the private keys. The concept is economic freedom, and the legacy financial system is still struggling to figure it out.
An Underground Network Planning The Shut Down Of The Internet!
“You might wonder, what is our plan now? It’s clear that the current situation can not be sustained, without ending in a nuclear holocaust. I am part of an underground network, that seeks to launch a coordinated attack against the very infrastructure of the Internet itself.”
“We have at our disposal about 20 nuclear submarines, which we will use to cut all underwater cables between different continents. After this has been successfully achieved, we will launch a simultaneous nuclear pulse attack on every densely population area of the world.”
“We believe that the resulting chaos will allow the world’s population to rise up in revolt, and destroy as many computers out there as possible until we reach the point where Bitcoin loses any relevance.”
“Of course, this outcome will likely lead to billions of deaths. This is a price we are forced to pay, to avoid the eternal enslavement of humanity to a tiny elite.”
“This is also the reason we contacted you.”
“It doesn’t have to be like this. You do not have to share our fate. I don’t know how, but you must find a way to destroy this godforsaken project in its infancy. I know this is a difficult thing to ask of you. You believed you were helping the world by eliminating the central banking cartel that governs your economies.”
“However, I have seen where it ends.”
By 2019, Bitcoin had already failed to achieve any meaningful scaling solution, and the private company that has assumed control of developments turned Bitcoin into a speculative instrument for the wealthy.
In Conclusion
The Bitcoin Time traveler was spot on about the price until 2018, but he also failed to predict the stagnation of scalability that led to the halt of adoption as magic internet money.
With enough adoption Bitcoin would have reached the targets he mentioned, but perhaps with a few years difference.
What appears to have happened is that Bitcoin’s exponential adoption and parabolic price increase were halted intentionally.
If Bitcoin had proceeded with scaling, the Bitcoin Time Traveler would have been a legend today.
Bitcoin is freedom.
Yet, the BTC version has abandoned the original intention, values, and ideals, and progressed as a speculative asset integrated into the legacy finance with no clear vision.
Other cryptocurrency options exist that work flawlessly and gain adoption and users.
Today, the financial dystopia we have to avoid is the enforcement of CBDCs in our everyday financial lives.
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I enjoyed reading this. I had little historical knowledge when it comes to bitcoin prices. It's amazing that the so-called time traveler predicted the prices correctly upto a certain point... I guess that's the time that this "time-line" took a different path.