Ray Kurzweil’s Law of Accelerating Returns is a fascinating concept. Does his novel theory validate the value and overall significance of the #Bitcoin proof-of-work protocol?

In retrospect (I originally published this about 1 year ago), the ever increasing global Bitcoin hash rate and The Law of Accelerating returns may have some technical correlation with each other, however indirect.

For those of you who don’t know what The technological singularity is — it’s The type of Singularity that refers to the emergence of super-intelligent machines and super-sophisticated technology with capabilities that cannot be predicted by humans. So how does this hypothetical moment in time coincide with the significance of Bitcoin?

If and when the singularity does happen we will look at Bitcoin as one of the 1st technologies to be at the forefront of the singularity. While the singularity has been a scholarly discussion since the 1960s, it didn’t become popularized until inventor Ray Kurzweil started publishing books like “The Singularity is Near” in 2005. One of his most practical ideas in relation to bitcoin is the law of accelerating returns Which states that, while most things progress linearly #technological change does not – instead, technological change is #exponential.

This means that the pace at which technology changes actually accelerates overtime. Over the past ten years Bitcoin has appreciated in value at an exponential rate. While there are attempts at price targets with stock to flow models – the asset may one day soon have a price that is unforeseeable today.

To make it an even more compelling case for bitcoin and the coming singularity, a really smart guy by the name of Vernor Vinge once wrote about the singularity about 26 years before the emergence of bitcoin.

What he talks about can in fact be applied to the concept of bitcoin (and the metaverse) such as: Networking: In this scenario, large networks of computers and their respective users would come together to constitute ‘superhuman financial intelligence.’

Bitcoin is literally a network of computers and their respective users that have come together to constitute super sound money. Granted, Ray Kurzweil isn’t exactly fond of bitcoin, but – interestingly enough- he does like blockchain technology (the technology that makes bitcoin work) and he does think that cryptocurrencies will one day take over the financial sector. Nevertheless, Only time will tell if bitcoin is is in fact one of the first iterations of the singularity.

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