The Hot Bitcoin Big Bang

We compare the introduction of Cryptocurrency to Cosmology.

From somewhere, nobody knows where, the source code appears.

The various coins rise in price compared to background legacy currencies, while tending towards equilibrium between cryptocurrencies. Huge mining monoliths dominate the market.

All the coins are mined. Expected in the middle of the 2020’s. A phase transition occurs as mining operations rationalize. Many high-energy cryptocurrencies will go out of existance.

Fiat lux. Surviving coins spread throughout the market. The period of price discovery begins.

The big banks muscle in to the market and dominate it for a period of relative instability

99% of the coins end up in the hands of 1% of the people.

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