A speaker argues that unlike an exponential (constant-average) return process, Bitcoin exhibits a decay in returns — which is not a bug but a feature. The early decay enabled very large ("10x") returns that attracted resources and interest, fostering adoption.
Over the long term, we follow an exponential. And exponential means stable returns, constant returns. Of course, they fluctuate over time, but their average is constant. With Bitcoin, we see a decay that is actually, as explained many times, is not a bug. Is a feature for Bitcoin because it allow Bitcoin to have 10 pair returns in the beginning. And that attracted, you know, resources, interest, et cetera, because people wanted to jump in.
