AI against gold: Bitcoin will become the true store of value of the future!

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Nick Szabo explains how AI threatens gold and strengthens Bitcoin. He predicts deflationary trends and Bitcoin as a safe store of value.

Nick Szabo erklärt, wie KI Gold bedroht und Bitcoin stärkt. Er prognostiziert deflationäre Trends und Bitcoin als sicheren Wertspeicher.
Nick Szabo explains how AI threatens gold and strengthens Bitcoin. He predicts deflationary trends and Bitcoin as a safe store of value.

AI against gold: Bitcoin will become the true store of value of the future!

Nick Szabo, a pioneer of the concept of digital scarcity, recently analyzed the impact of artificial intelligence (AI) on the financial market. He expresses the belief that AI could be gold's biggest enemy, while Bitcoin could benefit from this development. In an article by U.Today Szabo is quoted as saying that production will increase significantly through AI, which could lead to an increase in supply in almost all areas. This change affects not only retail, but also money creation and mining.

Szabo predicts that robotic diggers could greatly increase the amount of metals traditionally considered rare. The associated increased supply could lead to general retail deflation. Regardless of whether a bank is powered by AI or not, the amount of fiat currencies is expected to grow. This development could significantly impact gold's historical appeal as a store of value.

The future of money

A key difference between gold and Bitcoin is the limited number of Bitcoin, set at 21 million. This makes Bitcoin a non-inflation-prone asset. Szabo highlighted that Bitcoin is fundamentally different compared to gold and fiat currencies. The analyst sees potential for Bitcoin to be traded like a technology stock, which he describes as a natural learning process.

Szabo points out that early adopters of Bitcoin typically create volatility and speculative bets, but over longer periods of time, Bitcoin's true store of value qualities become apparent. In the future, Szabo said, AI agents may be able to use Bitcoin for transactions or request payments in Bitcoin. This includes the possibility that when machines choose a form of money, they will choose code-based currencies that cannot be manipulated rather than hoarding gold bars.

In this new financial landscape transformed by AI, Szabo plans for Bitcoin to not only survive as a digital asset, but also to stand out as a preferred payment method in an increasingly automated world. These developments could significantly change the way customers and companies do business in the future.

Finally, Szabo emphasizes that the changes brought about by AI in production and money creation could bring both challenges and opportunities for Bitcoin - challenges for traditional assets such as gold and opportunities for the digital currency, which is likely to emerge as a more stable and attractive alternative.