Jademont|4月 03, 2026 11:47
I've been a bit worried about BTC lately. It's not because of the price, because even if it falls by almost half from its peak, it's still not low, after all, we've seen big cakes that cost tens or hundreds of yuan and bear markets that fell even more. What I am concerned about is that the narrative that supports its value is facing a test. Although the two core narratives of the past - digital gold and national reserves - have not been falsified, their brilliance has dimmed.
The narrative of 'digital gold' is fading: a narrative spontaneously maintained by the industry after the disappearance of Satoshi Nakamoto, with the promise of becoming the ultimate safe haven in a turbulent world. However, when traditional gold repeatedly reached new highs, it failed to link up; Local conflicts have erupted, but it has not shown the expected surge in risk aversion. This expression of 'should be strong or not' shakes its narrative foundation.
The narrative of "national reserves" remains unresolved: although a few small countries have tried it out, among the first tier countries, this idea has been unable to be implemented for a long time, turning this hope from a catalyst in front of us to a distant vision.
If the old narrative gradually becomes weak, where is the new hope to reignite global excitement and imagination? The grand narrative of the future may need to go beyond the existing transformation of traditional financial frameworks:
Interstellar currency: As Musk's starship era unfolds, extraterrestrial colonies become a promising goal, and a decentralized, sovereign free, and seamlessly settled value carrier across the galaxy will become a true necessity. Bitcoin, with its absolute scarcity, censorship resistance, and global consensus, is currently the closest prototype to this imagination. The communication between Earth and Mars depends on whether it is facing or facing away. Electromagnetic wave signals take 15-25 minutes to arrive, and a round trip takes 30-50 minutes. BTC takes an average of 10 minutes per block, with 6 blocks confirmed, which is exactly the time required for the Earth Mars communication system to shake hands once.
AI currency: In the future, massive economies driven and managed by AI will operate automatically, requiring a "hard currency" that allows machines to trust each other and exchange value efficiently. This currency must have absolutely transparent rules, tamper proof supply, and global circulation. The algorithmic consensus of Bitcoin can precisely provide the "ultimate certainty" between machines, becoming the fundamental financial layer of AI economies.
Ultimately, the ultimate battle of Bitcoin is not just a technological victory, but also a triumph of narrative and consensus. Every leap in value is accompanied by a new story that captures the collective imagination of humanity. When the old story reaches a bottleneck, a more magnificent and future oriented new chapter is needed. Interstellar and AI are two ultimate imaginations that can carry the consensus of the next generation, have not yet been fully priced, and cannot be falsified in the short term - just like religion.
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