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When discussing bitcoin with investors who are new to the crypto sector this is their recurring question “… ” How DeFi adoption will impact the market cap of the King of Cryptos all very interesting but ultimately what can I do with bitcoin? What can I buy with it? True, adoption for bitcoin is somehow an issue, but it is also . Bitcoins´adoption is normally related to or its use as a currency, to buy things. a poorly understood issue the growth of its addresses Either way, the mainstream debate . Since bitcoin is primarily used as a store of value, its adoption as a store of value is not exactly compatible with the use as currency — indeed it is hoarded rather than spent. is mainly focused on the wrong issues While the adoption of bitcoin as is certainly the key driver at the moment — which will heavily impact on its market cap and price when it will — this still pales compared to what will be the future main driver for bitcoin adoption. digital-gold and as a store of value gain even only a fraction of the gold´s market share Enter DeFi, as many call it. Decentralized Finance or Democratized Finance For those new to the word, DeFi is quite simply the replication of legacy financial services, such as lending, payments, trading, asset management, insurance etc, provided via blockchain based applications in a decentralized manner. Clearly, the introduction of new technologies does not only improve on traditional financial services, but more importantly it creates opportunities to develop entirely new services, products and markets which were before today unheard of, like ), the and the creation of . DAOs (Decentralized Autonomous Organizations tokenization of entirely new asset classes scarcity-driven value for new digital assets On January 1st there were only 1.425 BTC locked in DeFi projects globally. On August 17th, the amount of BTC committed was over 48.000. At the current price of USD 12.400 this makes well over half a billion USD. For the legacy financial sector this is peanuts, it is a drop in the ocean of a multi trillion dollar market. That´s why they do not pay attention, not yet at least. But for the newly born DeFi sector it is a 33,8x growth in just 8 months. . Also the total value expressed in USD of the whole DeFi sector has gone up from USD 2 billion to over USD 6 billion in just the last two months. And it keeps accelerating Technological innovation is very subtle. At the beginning it is understood solely by very few tech proficient people within restricted circles and it is very difficult to predict what kind of changes such innovations can bring into people´s lives and businesses until it gets mass adoption. That is one of the reasons why — together with complement effects, network effects and viral product features — . technology adoption is non linear But when it gets traction, then it literally goes parabolic. But no worries, we are not there yet this is still the beginning. Since bitcoin represents the king monetary asset and the store of value for the whole crypto sector, its market cap goes hand in hand with the growth of DeFi applications, services and products. Bitcoin lubricates the DeFi system bringing liquidity to it and it acts as THE trusted monetary asset . pledged as a collateral in many applications Also note that — so far — bitcoin has been mainly tokenized (i.e “ ) for use within the Ethereum blockchain. wrapped” into an ERC20 Ethereum Token But what will happen when new DeFi applications will start to emerge also for the Bitcoin blockchain? Sceptics about the capability of the Bitcoin protocol to handle large transactional volumes will have to think again. Some are . already working on using smart contracts on the Lightning network for trading derivatives The difference between the use of bitcoin in DeFi applications running on Ethereum and its potential use on its own protocol is that “There’s a really big gap between DeFi, as Ethereum is trying to do it, and P2P finance,” Rubin said. “Uniswap is really great. But they tokenize their liquidity pools. … We [Bitcoiners] are talking about finding a way for people to work directly with each other.” Essentially, Bitcoin DeFi projects aren’t using derivatives of bitcoin like WBTC, they aim to enable traders to use directly bitcoin. And the consequences, in terms of bitcoin adoption, will be huge. So, let´s tentatively jot down some figures, just to have a rough idea of where bitcoin´s market cap might stand in a number of hypothesis: let´s assume that bitcoin´s adoption as digital gold continues and it gains X% of the market cap of gold currently at USD 13 trillion, based on an estimated above ground stock of 190.000 Tonnes and the current price of USD 1.990. let´s further assume that bitcoin´s adoption in DeFi applications increases and it gains X% of the market share of global legacy financial services, asset management and insurance sectors. Please note that the are not entirely reliable. But that was the best I could quickly find without doing a thorough data search which is not the scope of this article. statistical figures taken from Investopedia As you can see from the table above, in the first hypothesis we estimate a market cap of between USD 1,3 trillion to USD 3,9 trillion depending on the market share gain over gold (10% min to 30% max). This will project a BTC price between USD 68.000 and USD 205.000. In the second hypothesis we estimate gaining a much lower market share of the legacy financial services with DeFi applications, between 5% and 20%. BTC projected prices here vary much more as a consequence of the different market cap of each specific sector. Clearly though, DeFi adoption is not limited to just one sector, therefore they must be summed up. This is what we have done in the third hypothesis where we have summed up, conservatively, the minimum market share gains for each legacy financial sector together with the gold market. Here we project a BTC market cap of USD 4,73 trillion and a price of USD 248.000. The monetary supply of BTC is set conservatively at 19 Million considering that there is widespread consensus that between 2 to 4 million BTC are already lost for good, hence the 19 million max supply seems reasonable. As said, this is just an estimation and there are many more variables that should be taken into account, including the fact that bitcoin will probably have to share the benefits of DeFi adoption with other emerging cryptocurrencies in the future. But I am sure one gets the picture. One can play with the figures as much as wanted, but there is little doubt that the future market cap of bitcoin will be a multiple of today's. Barred adverse technological developments or currently inconceivable problems at Bitcoin´s protocol level, the only rational question is how many times a multiple of today´s price its future price will be. Hold tight interesting times ahead. © — 2020 www.bianconiandrea.com : Legal Disclaimer The website and the information contained herein is for general guidance only and it does not constitute legal advice. As such, it should not be used as a substitute for consultation with lawyers on specific issues. All information in this paper is provided “as is”, with no guarantee of completeness, accuracy, timeliness or warranty of any kind, express or implied. : Investment Disclaimer The website and the information contained herein is not intended to be a source of advice or credit analysis with respect to the material presented, and the information and/or documents contained in this website do not constitute investment advice. © — 2020 www.bianconiandrea.com Previously published at https://medium.com/@andreabianconi/bitcoin-goes-parabolic-and-its-not-the-price-c557f90a694a

Bitcoin Adoption Assumes A Parabolic Path

A few months ago, I embarked on a job search. In addition to the usual litmus test, considering the product, team, role, etc., I was adding some complexity. I wanted to continue my work as an educator. Last year, my research interests had taken me as far as Chile, where I taught computer science in public high schools as a Fulbright Scholar. My research question was simple — what should skills-based education look like? Back in San Francisco, I was disappointed to find there weren’t all that many EdTech companies that inspired me. Enter . On the surface, the product might not look like it has much to do with education, but I saw an opportunity. Parabola gives knowledge workers the capabilities of engineers—a visual way of creating scripts to analyze data. Parabola This happens all the time. You have data living in a few different places—lead data in Salesforce, performance data in Dropbox, and a smattering of other attributes living in Google sheets. You want to perform some analysis on them, and then move the results somewhere else. “More likely than not, you’ll want to perform the same analysis at the end of every month. Usually, you are faced with two options. You could get really fast at doing the same things over and over again. Maybe allow yourself to dabble in the guilty pleasures side of your Spotify to make it through the final stretch. Your only other good option is bothering an engineer and convincing them this is worth it. Parabola offers a bridge between manual work and fully engineered solutions. Instead of repeating processes or allocating g resources, Parabola offers a remedy where ‘mood-boosting’ Spotify playlists do not. engineerin How to build flows with Parabola By creating a ‘flow,’ a series of operations you can perform on your data, you can automate away a lot of the work you’re stuck repeating. Parabola’s proposed paradigm is: build a data pipeline once, so that you can run it whenever you want, thereby cutting out the tedium of repeated work I think of Parabola as an educational tool, one that makes engineering design patterns accessible Although Parabola users are not writing code, they are to think like engineers. Creating a flow in Parabola requires many of the patterns that allow engineers to build robust systems. learning design Creating data pipelines in Parabola is a study in how to design, build, and test systems. I like working on a product that deepens a user’s knowledge base, instead of shying away from the challenge of putting powerful tools in the hands of users. But more importantly, Parabola serves as a sandbox, where users learn these design patterns through experimentation Over the course of my research project in Chile, I became enamored with the , which postulates that people learn most effectively through experimentation and play. In my workshops, students built their first video games using ‘sandbox-style’ educational tools developed by MIT. Constructionist theory of learning Although it’s tempting to break things into bite-sized chunks for users or students, we’re often over simplifying complex concepts. I found that teachers consistently underestimate their students’ ability to figure things out on their own. In my programming workshops, I saw the power of experimentation as a teaching method. I saw what students could build when equipped with the right tools. Back to Parabola. I liked the idea of giving people the power to engineer solutions. But I loved the tactic: trust people to figure it out for themselves. And that’s exactly what I saw Parabola users doing. It’s inspiring to see the complexity of flows that previously non-technical users build for themselves in Parabola. The team has put a ton of thought into building a product you can tinker with. The interface was designed to make powerful operations easy to understand conceptually. Whereas Excel was never designed for the crazy things it’s used for today, Parabola was. As a result, Parabola users are programming concepts intuitively. Parabola users are creating fully-engineered solutions all on their own. As an educator, that got (and continues to get) me really excited. learning

Why I joined Parabola

Parabolic Advances in Crypto — Are they Good or Bad?

Storing Passwords In A Database: A Better Way to Do So

The Web3 economy is driven by use cases, innovations, hype, and trends. User activity is the foundation that shifts weight in favour of either of the four. Thus, it is a key metric to evaluate the growth potential of a project or a sector as a whole. Trends dictate price movements in the crypto market (especially the bull market). We all are witness to the unprecedented hike in the prices of metaverse and NFT projects during the previous bull run. Leading gaming projects like Sandbox ($SAND) and Axie Infinity ($AXS) provided investors with over 16,000% returns during the 2021 peak. The takeaway? Staying ahead of trends is one of the best ways to make it big in the bull market. I am unearthing the top 4 trends that can do a repeat of the P2E or metaverse boom in 2024. Trend 1: Re-Staking Science is yet to develop a technology that makes a human omnipresent (unless you are a mystic disguised as a degen 😛). However, re-staking enables your funds to be omnipresent. Introduced by EigenLayer, restaking allows Ethereum HODLers to boost their earnings by using their staked ETH to secure protocols other than ETH. ETH HODLers have been staking $ETH since the emergence of the project. Ethereum has a staking market cap of more than $223B. However, once staked, over 16M ETH tokens sit idly, safeguarding the network. Further, EigenLayer allows users to earn points by staking Puffer ETH (Puffer Finance), rswETH (Swell Network), and ezETH (Renzo Protocol) Restaking creates a win-win opportunity for both HODLers and protocols, unlocking additional wealth-generation opportunities. This essentially means $ETH worth billions entering active circulation. With more new projects following the path of EigenLayer, restaking could very well be one of the top trends to dominate the 2024 bull run. Trend 2: Layer 3 The blockchain trilemma has been a massive challenge since the inception of the blockchain industry. The emergence of Layer 2 chains like Arbitrum, Polygon, and Avalanche was aimed at boosting scalability. Clearly, there were many takers of Layer 2 as they improved scalability and enhanced overall efficiency. The increased adoption of Layer 2 projects was reflected in the price rally of tokens line $MATIC (Polygon) during the previous bull run. Layer 3 solutions intend to take scalability to the next level by introducing customization and interoperability to facilitate the deployment of dApps. As blockchain nears mainstream adoption, the architecture has to be made flexible to get future-ready. That’s where L2 solutions come into the picture. Emerging DEXs like Syndr are developing their own L3 chains to facilitate institution-grade derivatives trading with Web2-like user experience, with the end goal being accelerated adoption. It is only a matter of time before L3 chains witness an L2-like rise in adoption and hype. Trend 3: AI 2022 saw a mini rally led by AI projects and the trend continued in the first half of 2023 as well. Aptos, one of the top AI projects in the crypto space, rallied nearly 300% last year. This is when the crypto market cap was barely hovering at around $1 Trillion. With 2024 expected to be one of the biggest bull runs (no speculations, only sentiment analysis), AI projects could lead the parabolic rise this year. Trend 4: DePin DePin (short form for Decentralized physical infrastructure network) is an innovative concept born to incentivize participation or contribution of resources to power a blockchain network. De-Pin lets innovators bootstrap projects and offer services by encouraging contributors to run peer-to-peer (P2P) hardware infrastructure networks. Just like SocialFi rewards users for sharing their data, DePin rewards users for sharing unutilized hardware to support a network. Some of the top DePin projects are Render Network, Filecoin, and Theta Network. These are just trends derived using the current sentiment on crypto-dominated social media channels, hype, TVL, user adoption, and market scenario. Note: This list does not include any financial advice and is meant to educate the audience about the current market scenario.

Restaking, Layer3, and AI: Top 4 Trends Set To Takeover DeFi In 2024

Bitcoin is a fire breathing Dragon, A Quantum Computer, an Ice King. Fire makes the economy go round, and Ice brings on necessary winters that reset the planet for the next crop. The hotter the bitcoin, the more secure The colder the qubit, the more pure Exponentially they run in unique directions. Exponentially they become ever more useful. Humanity is lucky to have Bitcoin and Quantum Technologies. I am lucky that these two are destined for marriage. Converging at the nanoscale to create me, and you, an infinity stone. Circa 2100 Circa 2100 CE, it will be the 22nd century. Nobody knows what will happen then. But I know two things, quantum computational technologies will be more mature, and Bitcoin will also be more mature. They shall no longer be teenagers; they shall be wise sages then. Powerful sages. The maturity will come in many forms. For Bitcoin, a lot more people will be orange-pilled. When the US Dollar Debt balloons to a nice $100 trillion, you can be sure illions of people will be Bitcoiners. B It is incredible. If any country on earth spent , its economy would soon be in hyperinflationary hell, to collapse not even a year later. But if that country is the USA, via the Federal Reserve, it enjoys a wide swimming pool thanks to global reserve currency status. $1 trillion dollars of debt every 100 days But that is not all. The US Dollar also enjoys a ‘ ’ in the form of investments flowing in from outside the USA or its US Dollar.  I mean, most Bitcoiners are Americans, so Bitcoin is keeping the US Dollar afloat! Dollar Milkshake Let that sink in. *** So, circa 2100, the US Dollar still rules the Iron Throne. It keeps growing big and strong from all the milkshakes it enjoys, and then there is the one provided by Artificial Intelligence, feeding on our internet data. At $100 trillion in debt, subways in New York City are now rags, woke-ism is at an all-time high (ATH) and millions of American people choose to “identify” as young, rich, and very beautiful. In Africa, the oil is nearly gone, but the poverty still stinks. The energy transition is still mostly a theoretical idea, alternations between mild heat waves and raging rainstorms visit everyone who lives in the tropics. The Cold War between Russia and the USA, started in 1947, still goes on. Occasionally becoming hot every other while, to the detriment of other people. This is a ystopia. D At least burgers are still cheap (they contain insects now), and many AI data servers have been relocated to the moon to allow human beings some peace and quiet. These servers would be buzzing all over the place like bees (that don’t make honey). Unsurprisingly, Bitcoiners have decided they need another freedom technology on their hands. Bitcoin is being milked by AI, for AI ensures taxes are paid in lossy inflationary dollars. Nobody still thinks the bubble will burst. Maybe the can be kicked as far into the future as our imaginations allow us. can Bitcoiners learn about quantum computing big time. And underground start-ups are started. Quantum Hacking the World’s Problems A Short Story It is Monday 15th March, 2100. Finally, the password-cracking monster is created. Call it QKraken. The scientist responsible for this works for a pretty huge company under the ground, off books, and off signals. Code name - Q After cranking in parallel universes for 8 hours, the QC spits out the key to one of Satoshi's earliest wallet addresses. There they are - 50BTC. 500 million dollars. He almost pees his pants. "Should I call HQ?" HQ is sleeping. Nobody works past midnight or this early on a Monday. It won’t be rewarded (damned ballooning taxes). So, 8 hours of work on Monday, in the 22nd century, is enough work as it is. "Should I freaking spend some??" He tries to think, but it is not happening. SHA256 and RSA are now toast! His team can finally crack open decades of secrets shored up by millions of people, over the course of decades! Jesus. This is nuclear! Q tries to think but it is not happening. Computing game theoretic analyses that would make a supercomputer freeze out, he falls asleep at the computer. And he has this strange dream: It is Judgement Day, like in the Terminator movies. Someone, perhaps the Russians, get tired of the monolithic power wielded by the US Dollar and its huge AI dogs, so one of them presses the button. Or is it the Joker from the Batman movies? The countdown is started, and nobody is around who remembers how to press the kill switch. This is it. This is the Great Filter. Fate is going to reset the clock. Take human civilization back to the Stone Age. The nukes fall fast and in the thousands. Nothing can stop them. In a few minutes, their parabolic trajectories will be through. Then, hell will engulf the earth. They all fall harmlessly to the ground. Like dead weights. Why, what happened? … “Q” He wakes up. A little frightened. “You fell asleep at your desk, are you alright?” “Yes…yes, I’m alright” - wiping slight drool from his mouth. Vivian looks at him with pitiful eyes. Q isn’t sure if he even cracked SHA256. He wants to check again, but he is too tired. Did he stop a nuclear fallout? Did he destroy encryption? He decides to go out and check. Forgetting he could just turn on his phone and check if WhatsApp is no longer encrypted. He gets into the street. It is a usual Monday morning. Nothing unusual. He needs a break. He goes home. There is yet enough time to save the world. Of that, he feels sure. *** Shor-GPT In a good world, people will want Shor-GPT (a spin-off of ChatGPT). For they are accruing massive amounts of files and accounts whose passwords they never remember. *** Being a Bitcoiner who loves quantum computers, is like being a nuclear scientist who loves world peace. At the surface, it is impossible. Then you dig a little deeper and behold, only nuclear power shall cure energy poverty and the cycles of currency inflation rooted in playing the economy like a fiddle (because more useful energy, not more money, creates value in an economy). If anything, we should perfect playing the atom like a fiddle, not fellow humanity. It is kind of the same thing with quantum computers. Yeah yeah, Shor’s algorithm might “one day” hack Bitcoin’s encryption algorithms. Until you realize quantum computers are too at the moment. busy kicking their own butts . Like Spot But given that Shor’s algorithm (with its logarithmic speed) is stronger than noble quantum algorithms like Grover’s search which could be used for Bitcoin mining (using only quadratic speed), then the reality of hacking encryption is something we need to find good and profitable uses for else it will remain simply destructive. The first thing is the need, and the second is the cost. Even today, encryption can be hacked at many levels if you have a need and can provide the cost. Say you lose the password to your laptop, hacking it is a good thing. Say you lose the password to your phone with $50 million worth of BTC; hacking it is a good thing. You don’t care if the process will use a CPU or a QPU or a prayer; you want to open the phone. This is ethical hacking. Like crime, unethical hacking spreads when social structures become oppressive to their citizens. Massive debt burdens - like $100 trillion - are oppressive. So the drug use, the crime, and the unethical hacking will only get worse. Whether it be with classical, quantum, or social hacking technologies. The shabbiness will get worse, and our only hope is to take up laptops and build classical, quantum, social code. If somebody doesn’t want nefarious characters who build selfish quantum hacking tech, then they should not frustrate plus oppress their poor parents while these characters are still children. So flip it on its head, and it is a glorious revolution. Hacking, once again, becomes discovery. It is discovery. We hack away rocks and find gold, oil, and fossilized dinosaur bones. Hacking is breaking new ground. Adult humans become alike little children, breaking open their toys to see what makes them tick. So that they can buidl even better toys. (Aside - This is why I destroyed many of my childhood toy cars). “Truly I tell you, unless you change and become like little children, you will never enter the kingdom of heaven” - Matthew 18:3 (Holy Bible) Heaven, Utopia, awaits us if we change our ways. Awaits us if we acknowledge that ice and fire, Bitcoin and Quantum Computers, are no enemies. They are two great creatures with great use cases. And we need to tame them both. Or they will tame us.

A Tale of Ice and Fire

Cryptocurrency is a wild ride—a thrilling rollercoaster of highs and lows, with shocking surges followed by stomach-churning crashes. Bitcoin’s price is $52,000 as of this post! YouTube, Twitter, and Reddit tell you to make money now, FAST, and cash out with massive gains. What altcoin is about to explode? What's the best narrative for 2024? Sounds great. Who paid them for that? No time to panic Guard against the temptation of buying a significant amount of cryptocurrency at current prices, especially when history has shown us that better opportunities may lie ahead. This market always has downswings of 30 to 50% once or twice each year. Sometimes, these downswings can last months. Save your money for those times. Mark, You're telling us not to buy? It's the start of a massive bull market! What? I literally just said to buy some crypto. The bull market started in November 2022. It’s ok. You never get a bad price on bitcoin. No altcoin is worth its price today, but some will go much higher in the future. I'm a firm believer in the transformative power of blockchain technology and the potential of cryptocurrencies to revolutionize finance. I am even more bullish on the investment opportunity. That's something you can't get with any other asset class. However, I also recognize the importance of timing and strategic decision-making in this volatile market. Let's take a step back and look at the bigger picture. Keep it simple Bitcoin and other cryptocurrencies seem destined to reach new all-time highs any day now. It's easy to get caught up in the FOMO and feel the urge to jump on the bandwagon before prices climb even higher. Here's the thing: the crypto market is notoriously unpredictable, and what goes up must eventually come down. That's not to say that prices won't continue to rise in the short term. They very well might. There's just not that much more room to go up. That parabolic rise doesn’t have a lot of room left. Maybe 50% on bitcoin? 200% to 800% on altcoins? That’s less than you got last year and far less than you’ll get once the market settles down. Buying at current prices carries inherent risks, especially if you're investing a significant portion of your portfolio. Markets move in cycles. When you rush to buy at the booms, you risk being left holding the bag when they bust. Consider adopting a more measured approach. Wait for prices to drop. ”Consolidations” or “corrections,” as the traders say. When you do that, you position yourself to capitalize on better prices in the future. A drop to $35,000 wouldn't even break the uptrend we started in November 2022, but you’d get a lot more crypto for your money. One strategy to consider is dollar-cost averaging (DCA), where you invest a fixed amount of money at regular intervals regardless of market conditions. This reduces the risk of buying the peaks while also taking advantage of opportunities to accumulate crypto at lower prices during downturns. It's proven effective in all upward-trending markets. It's an objectively powerful way to invest. A man a plan a canal . . . Another approach that beats dollar-cost averaging without extra work or timing the market? . My plan With my plan, you’re up 850% at best, but more likely up about 110% with cash to spare. At worst, you’re even on your investment. On average, you get 30% more crypto with my plan than you get with dollar-cost averaging for the same amount that you put into the market, without trading or timing prices. The basic premise: buy low and grow. This seems backward. Traders would never buy an asset when it crashes. “Don't catch a falling knife.” Wait for a “break of resistance.” Oh well. The results speak for themselves. You can see for yourself in the chart that goes along with my plan. You may feel the urge to buy cryptocurrency at today's prices. With so much upside, you can wait for opportunities to come. A little patience and restraint can go a long way. You don't need to chase prices as they run away from you. Odds are, they’ll come back—if you’re patient. Available as a collectible NFT at . https://mirror.xyz https://mirror.xyz/0x9a6600c7B40801dda9A0Fa4E8DE7b1B99FE524a7/CY5DfVqBMJo_ZT_6Vbw2_xWS3tssY8oA0ZNx9KATlRQ?embedable=true Mark Helfman publishes the newsletter. He is also the author of three books and a top Bitcoin writer on and . Learn more about him in his and connect with him on or . Crypto is Easy Medium Hacker Noon bio Superpeer Tealfeed

Crypto’s Booming. Buy More Later. 

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