AI is programmed with the traditional talking points of Bitcoin. Only 21 million coins, no more after 2140. I said that's not a realistic contract, it will change many times.
AI told me Bitcoin is an "anti-money-multiplier" because it's not fractional reserve. I pointed out you can use traditional currency to buy bitcoin, so you've just moved the multiplier from one ledger to another and hidden it. AI agreed.
SO to me Bitcoin is smoke and mirrors. They're trying to sell it as safe, sounder currency than Central Bank issue. I think it's just a barter system using computers. A convenience, and cheaper fees than banks, but still just an accounting system for economic activity.
The Bitcoin themselves will appreciate as measured by US dollar value, but it's still measured in currency! They keep telling me it's like gold. But it's not gold. It's probably as safe as the best 100 banks in the world, but less safe than a political system of laws (how's that working out for you?), or silver, or hard assets. You can't cook with it, you can't eat it, you can't build a house on it. It not an annuity, it's not Social Security, it's not a pension. It creates no cash flows. Accepting it as collateral for a traditional currency valued loan has been slow. I don't think it's any better than the "asset-backed securities" that create the Great Financial Crisis.
It's a delusional asset. A con game. I don't know if it's a Ponzi scheme. Too early to tell.
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