Imagine a scenario where you’re heading off for a 100-year vacation and you want your wealth to survive when you return. You decide to bury a safe that holds:

Some gold barsA bunch of $100 billsYour bitcoin in cold storage

What do you expect the outcome to be when you return from your 100-year absence?

The gold bars will still be there in good shape. The $100 bills will have physically decayed and the purchasing power will likely have dramatically weakened to the point where the bills are worthless.

What about the bitcoin? What is the bitcoin worth?

The answer depends on how the network operated during your long absence. If other people were actively transacting, then the miners were…

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