About Fred and the Power Law
There was this guy I noticed on X one day. A Boomer from California, a guy who holds a Math PhD from Stanford, who made a fortune and has a highly potent network. This guy is a high stake Bitcoiner. Fred Krueger.
He began talking about this so called „Power Law“ last year, which is a math function, which describes the growth of nature, be it Stars or Trees. And this Power Law is obviously valid for the growth of Bitcoin too (Price, Hash rate, Number of Wallets) with an almost perfect statistic correlation of R^2=0.96 out of 1.00. This was discovered by an italian Mathematician, Giovanni Santostasi.
The Book
This Fred Krueger now wrote a book together with a collegue Bitcoiner - Ben Sigman - about BTC growing according the Power Law to a price of 1 Million a coin within the coming decade. Not as a speculative dream but as something that can be extrapolated with almost 100% statistical certainty, based on the data of Bitcoins‘ 16 year history.
The book examines the fundamental reasons behind this Power Law development - how BTC will get to 1M - and how a world might look like, when Bitcoin becomes that valuable. That is an especially captivating part of the book as it describes Bitcoin to grow as a parallel technology besides the fiat system in the coming years. The authors even think about the more distanced future in about two decades from now, when Bitcoin could fulfill Hal Finneys prediction back in January 2009: a price tag of 10 Million per coin.
Must read
Wether you are interested in the topic, own a few sats, or even invested big in Bitcoin, this book is a must read. It is very well written, profound yet still compact and approachable. It was a Bestseller the day it came out mid of this week. The future will show if things will really turn out that way but I think it is very likely. It all makes sense to me the way it is presented. Bitcoin will not replace Fiat currencies in the nearterm future or „kill them“. But it is the superior money technology that will make them obsolete step by step.
What do you think about the Power Law thesis for Bitcoin? Have you read the book yet?
