Chris Burniske, a partner of the Placeholder VC investment group predicts two possible outcomes for the future of cryptocurrency. And how these crypto-assets may likely transform the world. According to Burniske, one of these outcomes may likely play out. However, the participants in the crypto ecosystem will determine which will be evident.
Bitcoin Steals Attention
Bitcoin is 11 years already and it has garnered a lot of attention as to what may be its outcome in the near future. It trades around $8,700 today, but there are high expectations for something even better. Bitcoin halving in May has also raised the bar maybe a little bit too high. What’s more, the blockchain space has several developments ongoing which could transform the world significantly.
On the other hand, Chris Burniske in a Tweet on March 1, 2020, outlined what he thinks may come out of this asset class in the future. Emerging digital worlds offer a “blank slate of state” in terms of design and would need to develop, he says. As such, two choices can be made during the design.
Digital Structures Adopting the Learnings of the Past
The first is where digital structures adopt the learnings and experiences of the past and maybe improve from there. In this case, a new world is built by recycling and adopting the ‘physical’ heritage of previous generations. “We can incorporate the learnings of the past into new digital designs, recycling the physical baggage for more than it’s worth,” Burniske said.
In contrast, the second focuses on how new digital worlds can emerge by adopting all the characteristics of the pre-blockchain society. These features will include its rules and power structures. But this time around, the digital world will ignore the learnings of the past. In his own words: “Or, we can include all of the baggage, transposing meatspace rules and power structures into the digital space, ignoring the learnings.”
Burniske Predicts Bitcoin Will Surpass its Previous All-time High
Nonetheless, Chris Burniske was quick to note that one of these may possibly play out, as he predicts outcomes of the future of cryptocurrency. And which way the crypto space will go is solely dependent on its adopters. Prior to this time, the crypto enthusiast had outlined that Bitcoin will surpass its previous all-time high in the next bull market. In line with some, some of the riskier assets may possibly outperform the leading cryptocurrency.