Power law theory will get a lot of people destroyed like S2FX did too.
Bitcoin follows the same mathematical structure seen in other transformative technologies: an S-curve governed by network effects and diffusion dynamics. In the early and middle phases of this curve, growth is dominated by Metcalfe-law scaling (value rising with the square of connected participants), reflexive feedback loops (price leads attention leads to adoption leads to infrastructure leads to price), and stochastic catalysts (halvings, liquidity shocks, regulatory moments, failures of legacy institutions).
When these mechanisms compound, the visible portion of the trajectory resembles a power-law trend, not because Bitcoin is inherently bound to a power law, but because a power law is what the accelerating region of an S-curve looks like when plotted over time. Observers misinterpret this visually smooth segment as a standalone mathematical regime, when in fact it is simply the early-to-middle adoption window common to telephones, the internet, mobile devices, and every other system shaped by positive network externalities.
As Bitcoin expands and matures, these same forces progressively transition it toward the inflection point of the S-curve: growth accelerates until the system becomes broadly integrated, after which marginal adoption slows and volatility compresses. The power law was never the fundamental model, it was only the visible slice of a longer, multi-phase adoption curve driven by network effects, reflexivity, and the probabilistic shocks unique to monetary technologies.
