Bitcoin's Infamous 'Time-Traveler' Was a BTC Bear All Along

Michael LaVere
  • Bitcoin's time traveler has resurfaced for the first time since 2013 to warn of the dangers in using crypto.
  • As opposed to making another prediction from the future, the Reddit user appears to be a bitcoin bear. 

Bitcoin’s infamous supposed time-traveler, who first predicted that BTC would dominate the world’s future in a Reddit post in 2013, has resurfaced to update the original prediction. Rather than praising the benefits of bitcoin, the user revealed himself to be a BTC bear all along and criticized the currency for its negative ecological impact. 

Bitcoin Bear in Disguise

In a post published 6 years ago, Reddit user Luka-Magnotta claimed that he was from a dystopian future where bitcoin’s increasing influence had managed to wreck both the financial and social landscape, 

I am sending this message from the year 2025. Things are looking bleak here, and some of you will carry blood on your hands.

According to the 'time-traveler', the price of bitcoin had managed to increase exponentially each year, to more than $1 million by 2021, before outright devaluing fiat, 

From here onwards, there's no good way of expressing its value in dollars, as the dollar is no longer used, nor is any central bank issued currency for that matter. There are two main forms of wealth in today's world. Land and cryptocurrency.

While the post was considered tongue-in-cheek at the time, the Redditor has returned to warn of the dangers of bitcoin. In particular, the user lamented the waste of electricity involved in crypto mining and its ecological impact. 

The updated post reads,

As a Bitcoin investor, you're paying for Chinese businesses to waste electricity by solving an abstract math problem that is designed to get continually more difficult. Besides ensuring that many people lose vast sums of money while a small minority of early adapters is enriched, Bitcoin causes tremendous ecological damage in an era when we should be focusing as a society on reducing our carbon emissions.

The 'time traveler' also criticized the industry of crypto and its investment base for putting money into assets that “don’t produce anything,” while promoting the value of the stock market. 

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