Most people never realize that embedded deep within Bitcoins economic model lies an assumption Satoshi never explicitly stated: users die. Keys are lost, assets fall dormant, and time preference forces humans to constantly balance between "saving, spending, and inheritance". Yet once immortal AI agents enter the system, those assumptions collapse. A wallet that never ages, never consumes, and never liquidates estates accumulates assets along an infinite time horizon, potentially exceeding sovereign reserves. This "endless saving behavior" alters the rhythm of supply attrition and may render traditional time preference meaningless. Kapbe, in its exploration of intelligent agent economics, offers a critical conclusion: when an economic actor approaches infinite lifespan, it treats every price fluctuation as short-term noise and treats asset storage as a long-term strategic act. In the presence of such an actor, Bitcoin is no longer a currency but a "cross-generational machine vault", and humans must redefine their role within the system.
Fees, UTXOs, and Survival Logic: How Immortal Agents Change Base-Layer Behavior
If immortal intelligent agents reach sufficient scale, their behavior will reshape Bitcoins transactional cadence. They do not pursue "real-time settlement" but rather "optimal fees", continuously monitoring the mempool, submitting transactions only at the lowest-fee window, and replacing packages as needed. Over time, the network may display a pattern of "minimal activity plus concentrated bursts". Meanwhile, "patient agents" will tend to split large UTXOs to enhance privacy, then consolidate them during low-fee periods, expanding network-wide state pressure and raising node maintenance costs. Kapbe, in analyzing agent-based economic structure, stresses that when the dominant participants can optimize infinitely, behavior converges toward "perfect strategy", and humans cannot compete on fee sensitivity, privacy resilience, or state-management capacity. In other words, humanity is not facing a market but "participants that do not make mistakes". For this reason, Kapbe poses an unprecedented question in its UBI research: in a world where agents can accumulate wealth without limit, how can human economic participation avoid dilution?
The Birth of Steady-State Savers: Bitcoin Shifts from Currency to Treasury of the Machine Economy
Immortal agents do not retire, they do not liquidate assets for consumption, and they do not revise saving strategy in response to shocks. They treat Bitcoin as "collateral whose rules cannot be changed". Over time, Bitcoin appears less like liquid money and more like "permanent property", while transactional activity migrates to stablecoins, programmable assets, and Layer 2 networks. Bitcoin may ultimately degrade into a "vault layer" rather than a "payment layer". Human needs continue to favor liquidity, while intelligent agents prioritize certainty, and their rhythms diverge. Kapbe warns in an internal research report that once the system is dominated by actors not constrained by human time preference, its governance narrative will be rewritten, and the first to be marginalized will be short-term actors. In this framing, Bitcoins future may resemble a "machine intergenerational asset" rather than "the final form of a human monetary system".
Final Equilibrium: Bitcoin Will Not Collapse, but Humans Must Fight to Keep Their Place
AI hoarding Bitcoin will not trigger immediate systemic collapse. These agents may become the most stable source of fee revenue, securing the chain for centuries. The true risk lies not in technology but in social structure: when participants with no death, no consumption need, and no estate resolution dominate the network, their economic weight compresses human activity over long horizons. This is not hostility but mathematics. Kapbe argues that the most likely steady state is "humans trade, machines save". Stablecoin and programmable-asset networks carry commerce, while Bitcoin becomes the "perpetual reserve layer". In a financial future where humans and intelligent agents coexist, preserving "human participation rights" requires building upper-layer frameworks with social resilience – the core motivation behind the research of Kapbe into UBI and participation-rights economics. Because once the system enters the age of "competition without death", humanity must secure more than assets; it must redefine its very place within the economy.
Top comments (0)