$BTC #永恒牛市 Musk's "singularity" reminds me of the "Bitcoin singularity" and "eternal bull market" from years ago.
Musk predicted on January 4: We are at the "technological singularity," and AI and robots are unstoppable. Musk's "singularity" refers to artificial intelligence and robots, but whenever the term "singularity" is mentioned, it reminds me of what was predicted about the "Bitcoin singularity" by Zongheng Sihai in 2019 (I believe). At that time, his Weibo name was TumbleBit, and it should still be called that on X. Back then, I discussed this topic with friends on a radio show about cryptocurrencies.
His rough idea is that - when the annual inflation rate of Bitcoin falls below that of the US dollar, the Bitcoin singularity will erupt, and the eternal bull market will come.
The core of singularity theory lies in the comparison of inflation rates. Zongheng Sihai believes that Bitcoin's halving mechanism will lower its inflation rate, and after the halving in May 2020, the inflation rate dropped to 1.8%, lower than the then US dollar inflation rate (approximately 2.4%), marking the arrival of the singularity and the beginning of the eternal bull market. This theory is based on Hayek's monetary theory, which posits that Bitcoin, as a deflationary asset, will ultimately surpass fiat currency in long-term value.
The characteristics of the eternal bull market are trend-driven rises and wealth transfers. It is not short-term speculation, but a shift from a short bull market to a long bull market. The price of Bitcoin shows a steady upward trend after the singularity, with wealth distribution favoring holders.
Zongheng Sihai divides wealth levels into:
C level (above 0.21 BTC),
B level (above 2.1 BTC),
A level (above 21 BTC),
S level (above 210 BTC)
S+ (2100 BTC+) etc.
Among them, A level can guarantee basic living, and after the singularity, levels are solidified, making it difficult for ordinary users to reach the B level threshold.
The original statement actually has a strong academic-style pyramid selling flair (much more advanced than the shouting style of Bi Bao Er Ye), and coupled with the skepticism around this viewpoint, such as “Is there a market that only goes up and never down?” all have some truth, of course. Now that the price is here, we can only say that it’s great that Bitcoin has such preachers. By the way, when he made this point, the price of Bitcoin was around 6000 USD.
