Topic: [2019 - 11- 25] The 4 Possible Bitcoin Scenarios In The Long Run - page 2. (Read 268 times)

It's technically not even about Bitcoin's security since most people don't care about that. In fact, it's mainly Bitcoin's network effect that makes it so desirable. If you look at what coins are being listed the first on exchanges, it's always Bitcoin. If you ask people in crypto if they accept Bitcoin, even when they are hardcore altcoiners, they'll do it.

By always being the first with everything, you position yourself stronger in the market year after year. Look at the volume of exchanges that are reputable, it's Bitcoin as single coin that generates most of the volume. XRP is truly a joke with just $20-$40 million in overall volume when you look at its market cap. Ethereum is doing better on that front but it still is no match.

With lightning faster and cheaper transactions can be tapped into already. I'm using it on a daily basis and thus far haven't had a single transaction fail. The only inconvenience I experienced thus far was that it took about 30 seconds for a ~$200 transfer to settle (likely related to routing) but it settled. The fee was a whopping 26 satoshis, which on lightning is a lot actually.

If I for a second worried about an altcoin that potentially could overtake Bitcoin in every aspect, I would be holding quite a chunk of it. I don't see it happen.

I think the opposite myself. When I recall what banking was like only ten years ago it was a lot more logical and a lot less offensive and Orwellian than it is now.

You actually got interest on your savings. Cash was king. There was much less of this AML reporting and zero talk of restricting cash transactions above certain amounts. It's only going one way.

Cashlessness and the spectre of a governmentcoin will be a wake up call to enough people to make them question what's going on. BTC will be waiting for them.

I think if Bitcoin could be substituted by any of those coins, it would have happened already. There are tons of faster coins with cheaper transaction fees, and yet most people prefer to use Bitcoin, and the main reason for that is that its blockchain is much more secure than that of any other crypto coin.

There are many people who are asking themselves: Is Bitcoin really needed on their lives at least in the aspect of finance, money and banking? We have to accept that the impetus of the creation and existence of Bitcoin years ago have already faded today and many people do not care anymore about how the government and traditional financial institutions can be intruding into their lives for as long as these people get what they want in the process. In other words, we are now slowly losing the vision for Bitcoin and when only a handful of people are really sticking to the core beliefs and philosophy of Bitcoin then we can have a big problem and right now the symptoms of these problems have already started to surface. Let's just hope that eventually Bitcoin will be as it should be.

Bitcoin Leaves No One Indifferent

That’s obvious, but I think that pointing this out is important.

Some are the Bitcoin’s absolute supporters and its revolution. Bitcoin is a real opportunity for them to restore a fully decentralized and trust-based financial system. Among these supporters are the famous HODLERS who are conscientiously accumulating Bitcoin month after month, whatever their price, because they are convinced that in the future their price will reach new heights.

There are central bankers, economists and politicians, on the other hand, who see Bitcoin as a major risk. Nonetheless, Bitcoin’s mass acceptance may clearly undermine its ability to create infinite money.

Then there are the media that use Bitcoin and cryptocurrencies to create sensational headlines without bothering to understand the ins and outs of this revolutionary technology.

Lastly, in the midst of all this, the general public is not sure what to think about a Bitcoin whose excessive volatility and potential role in money laundering is constantly underlined. Therefore, many people clearly do not know about Bitcoin’s potential and how it might well transform their lives in the future.

The Bitcoin Future Price Makes You Imagine

Whatever your position on Bitcoin, I’m sure you’re intrigued by at least one thing about Bitcoin. I know because almost everyone on Earth is intrigued by this thing.

Everyone asks what the Bitcoin price will be in the future.

Bitcoin’s future price makes you fantasy. Everyone therefore has a small prognosis: from Bitcoin influencers to economists, everybody seems to have their own views on the issue.

A well-known venture capitalist with significant investments in Baidu, Skype and Tesla, Tim Draper has long believed in Bitcoin and that’s why he purchased, for example, 30,000 BTC in June 2014. Consequently, its predictions on Bitcoin’s future price are necessarily influenced.

Tim Draper predicts a $250,000 worth of Bitcoin in 2022!

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