The Last Bitcoin: Chapter 2 - The Story I Coauthored With ChatGPT

An experiment coauthoring with ChatGPT. The scarcity problem of Bitcoin is presented in a convention.

When cryptography meets quantum computer and cryopreserved bodies hide secrets worth millions, it only takes one bad actor to unleash a thrilling action. Coauthored with ChatGPT based on my prompts. The technology and historical events in this novel are real.

The sun was shining brightly as a group of bitcoin miners made their way to the tropical resort for the annual conference on cryptography. The buzz of excitement was palpable as they entered the conference center, filled with vendors showcasing the latest in mining technology and experts in the field of cryptocurrency ready to share their knowledge.

Bizarre combination of hostesses in attractive dresses and fancy make up together with robustly built sales guys in slick suits trying to promote their wares to a collection of irreverent geeks.

The miners, hailing from all corners of the world, were eager to network and learn about the latest developments in the industry. As the conference began, the miners settled into their seats, ready to immerse themselves in the world of cryptography and mining for the next few days.

The attendees eagerly awaited the presentation by Dr. W Shagwell, a renowned researcher in the field of cryptocurrency. Dr. Shagwell walked up to the stage, his laptop in hand, and began presenting his thesis on the economics of bitcoin mining.

He started by explaining how the current market conditions and increasing competition in the mining industry were making it difficult for small miners to turn a profit. He then delved deeper into his research, presenting data and analysis on how the cost of electricity and equipment were also on the rise.

Peter was in the audience listening intently as Dr. Shagwell presented his findings, which showed that the profitability of bitcoin mining was likely to decrease in the future. He also discussed the potential impact of this on the industry and the miners themselves, many of whom were in the audience.

The miners sat with a mix of shock and concern as they processed the information being presented.

Alas, the bitcoins are but a finite treasure,
Mined by digital alchemy, yet bound by a ceiling set.
As the years pass, the mines yield less and less,
And the rate of gain doth inversely progress.

This limit doth approach with each block mined,
And soon the reward shall be but a pittance,
Merely the coin of the realm for transactions,
And not the bountiful harvest of yore.

As the mines grow barren, the miners must adapt,
For in this digital realm, change is the only constant.
Thus, they must seek new ways to earn their keep,
For in the future, the reward shall not be reaped.

And so, let this serve as a warning, dear miners,
To look to the future and diversify,
For the days of riches from mining alone,
Are but a fleeting memory in the digital sky.

Peter looked at his friend Olivia and laughed at the “crazy dude” hand signal that she made while pointing to the professor. “What’s with this guy, he thinks the is Shakespeare or what?”. Peter laughed and with a shake of his head motioned her to get the heck out of there.

Peter and Olivia were walking by the sea promenade on their way to the standup comedy event of the evening. The sun was getting ready to set by the sea and the orange and yellow tones of the golden hour were making evertyhing look bright. The last beach goers were picking their stuff, and the public announcements were blasting the news that the beach were closing for the day. They were discussing the events of the day at the Bitcoin conference.

Peter shook his head in disbelief. “I can’t believe how complicated it all is. I mean, I thought I had a handle on Bitcoin, but this mining stuff is like rocket science.”

Olivia nodded in agreement. “Yeah, it’s definitely not as easy as it used to be. Professor Shagwell was saying that the cost of electricity and equipment is making it almost impossible for small-scale miners to turn a profit.”

Peter let out a sigh. “That’s what I was afraid of. I was thinking of maybe investing in some mining equipment, but now I’m not so sure.”

Olivia continued. “I didn’t understand all the technical details, and the language he used was a bit archaic, but it sounds like he’s saying that the number of bitcoins being mined is decreasing and that the cost of mining is going up.”

Peter: Yeah, that’s right. He said something about how the amount of bitcoins is limited by the algorithm and that the limit is being reached in an inverted exponential mode. Whatever that meant.

Olivia: Between his talk about mines grow barren and “the limit doth approach with each block mined” I’m not sure I understand what he means, but it sounds like it’s not good for us miners.

Peter: Exactly. He said that at some point in the future, miners will only be paid by the transaction fees, not by the new bitcoins being mined.

As Peter and Olivia arrived at the stand-up comedy venue at the end of the day, they handed their tickets to the attendant at the entrance.

“Welcome to the comedy club, guys,” she said, as she gestured towards the rows of chairs. “Please follow me and I’ll show you to your seats.”

The two friends followed the lady, their eyes drawn to her striking figure and sparkling eyes as she led them through the crowd. They couldn’t help but feel a little star-struck as she showed them to their VIP seats, front and center.

“Enjoy the show, guys,” the lady said with a wink, before turning and walking away.

Peter and Olivia sat down in their seats and couldn’t help but feel a bit of excitement as they took in the stage and the lively atmosphere of the comedy club. After a long day of presentations it was nice to relax and enjoy some lighthearted entertainment.

They look forward to the night, and the good looking lady that helped them to their seats, had made their night even more interesting.

The curtains opened and the first comedian of the night sat on a stool mic in hand. The publicum gave her a warm welcome round of applause.

“Ladies and gentlemen, did you sat through the presentation by a Professor Shagwell? I mean, it was like trying to understand a foreign language without subtitles. I swear, the only thing more confusing than his PowerPoints is my ex’s text messages.

Some laughs from the audience followed.

He was talking about something called Bitcoin mining and how the best times might already be over. I’m like, ‘Okay, wait, so you’re telling me that I can’t just sit on my couch and make money? But that’s my whole retirement plan!’ But then he starts throwing around words like ‘blockchain’ and ‘hashrate’ and I’m just sitting there like a deer in the headlights.

Some more laughs and a few claps.

I mean, I barely know what my bank account balance is, let alone how to mine for Bitcoins. I think he might as well have been speaking in Klingon for all I understood. But hey, at least I know one thing for sure, I’m not gonna be a Bitcoin miner.

The audience sat silently, you could have heard a pin hit the ground.

Bitcoin mining? It’s getting to the point where these miners might as well be working for free. But you know who’s going to make a killing? Me, that’s who. I’m going to start selling mining computers. They’re like the shovels and pickaxes of the 21st century. I’ll be like those merchants who sold supplies to the gold diggers in California during the gold rush. They got rich while the miners were out there breaking their backs for a few flakes of gold.

Some boo’s start to be heard.

And let’s be real, with the cost of electricity and equipment, it’s not just the small-time miners who are struggling. It’s like a game of musical chairs and the music has stopped but there’s still one chair left and a hundred people trying to sit down. They’re all fighting for a seat, but in the end, only a few will be left standing. And I’ll be standing there, with a mining computer in one hand and a suitcase full of cash in the other.

Louder boo’s. The disgraced comedian took the hint and stands up to leave

Thank you, you’ve been a great audience!”

Also published here