Everybody knows what bitcoin is in 2023. It is not a matter of explanation but what has changed since 2010. Its primary goal was to eliminate dollars and remove banks for person-to-person transactions. The concept failed because bitcoin denied the social contract, a need for human society.
According to the idea of a social contract, individuals give up some of their freedom and rights to a central authority, such as a government, in exchange for protection and security. This absence of foreign entities gave birth to rug pull and fraud. Bitcoin will never take over fiat currency.
As time passed, many people also lost the key to their wallets. The story of James Howells is familiar; he threw away his hard drive, which consisted of more than 7000 bitcoin.
The Era of Bitcoin and the Story of James Howells.
The era of Bitcoin refers to the period of time where the decentralized digital currency, Bitcoin, has gained significant popularity and adoption as a means of exchange and store of value. This era is characterized by the emergence of blockchain technology, increased interest in cryptocurrencies, and growing recognition of the potential for Bitcoin to disrupt traditional financial systems.
James Howells is a British technology consultant who is best known for losing access to 7,500 bitcoins, which he had mined in 2009. At the time, the value of a single bitcoin was relatively low, but as the price of the cryptocurrency increased, the value of Howells’ lost bitcoins also grew, reaching several million dollars. In 2013, Howells accidentally threw away a hard drive containing the private key to his Bitcoin wallet, which he had stored in a landfill site in Newport, Wales. Despite several attempts to recover the hard drive, Howells has been unable to access the bitcoins stored in his wallet. His case is often cited as a cautionary tale about the importance of securely storing cryptocurrency.
Lost and Dormant bitcoins
Besides him, many users have lost bitcoin through lousy trade and forgotten critical hard drives. However, the other users could hold a large amount of bitcoin in 2010 and 2011. The largest bitcoin wallet as of now holds 248,597 BTC. It is impossible to claim the lost bitcoin wallet. Only the wallet owner knows the public key of the wallet.
Here are the top bitcoin addresses that have been dormant for five years.
As of today, this wallet owns 79,957 bitcoins.
As of today, this wallet owns 53880 bitcoins.
As of today, this wallet owns 51830 bitcoins.
As of today, this wallet owns 31000 bitcoins.
As of today, this wallet owns 28151 bitcoins.
100 $ investment: Worth it till 2030?
The price of Bitcoin and other cryptocurrencies is extremely volatile and can change dramatically in a short period of time. It’s impossible to predict the value of $100 in Bitcoin in 2030 as it depends on various factors such as market conditions, adoption rate, and regulatory changes. It’s always recommended to consult with a financial advisor before making any investment decisions.
What’s the next bitcoin?
Everyone is searching for the next bitcoin. There is always a chance in every decade for people to get rich. As of now, the investment in AI technology will create a new wave. Apart from that, lots of entrepreneurs and investors are searching for the next big thing. Like the dark ages, we could have been treading on the void for years. When the next bitcoin pops up, you will surely know. Always remember the next boom could be on entirely different things like land, gold, and the AI market.
AI could be the next big thing.
Artificial Intelligence (AI) has been a rapidly growing field in recent years and is often referred to as the next big thing.
There are several reasons why AI is considered the next big thing:
- Advancements in technology: With the increase in computational power and the availability of vast amounts of data, AI systems can now perform complex tasks with high accuracy.
- Improved efficiency: AI systems can automate many routine tasks, freeing up human workers to focus on more complex and creative tasks.
- Applications across industries: AI is being applied in various industries, including healthcare, finance, and retail, to improve decision-making, streamline processes, and enhance customer experiences.
- New business opportunities: AI is creating new business opportunities in areas such as machine learning as a service, AI-powered products, and AI consulting.
- Potential to solve major global problems: AI can solve some of the world’s biggest problems, such as climate change, global poverty, and disease.
However, despite the tremendous potential of AI, there are also concerns regarding its impact on employment, privacy, and the ethical use of the technology. These concerns need to be addressed as the field continues to grow.