Topic: Analyst say bitcoin will Obsolete one day. - page 10. (Read 2132 times)

With that kind point of view then yeah Bitcoin would always look like a HYIP or even ponzi ... But when you could look at the deeper line how Bitcoin useful for future financial system where things run transparently and the market itself could build a new business model that bring global economic growth.
How could Bitcoin become outdated when it keeps create great things for the better world?

Bitcoin has become just a speculative asset where people say $20,000 or $30,000 for those high profits. It looks like hidden ponzi/HYIP

May be true or may not be because from last few years people being telling that it will become zero or it is just bubble and so on and till today we have seen how the btc has risen and though at current scenario it is trading at lower price but it should be good again in next coming months.

For the time being, all these governments around the world, are waiting and watching. They are trying to figure out what this new thing is and how far it can go. As fiat currencies devalue more and Bitcoin goes up, they will be forced to make decisions. Some may make policies to regulate them while others might declare them illegal. But there’s no stopping when it comes to technologies like the internet or smartphones. And make no mistake, the Blockchain based industry is going to be as big as these two, may be even bigger.So, the governments and leaders around the world can bite off all they want, but chewing would not be much of an option.

People who believe Blockchain technology is outdated is that they do not see much right now, I do not like people who do not appreciate new innovations, many examples of companies that are beginning to want to develop technology that believes to be very good at development projects right this is the first stage can be called is not perfect 100%, do not be surprised if Bitcoin in a bad situation it will sprang speculation that can disturb someone, when it is at the peak of success behind then they will soon change their mind, this case has happened in recent years where technology Bitcoin and Blockchain not what -what, seeing only one eye.

If that happens then for sure that cryptocurrency will be fully adapt by people and most of the countries, and maybe in that time people has seen better than bitcoin, so for me it takes time before we can finally see that,but right now we should enjoy what bitcoin has come so far and the benefit of holding it for a long time.

There are two types of supporter all over the world. Some people took it positively and some are negative. They who cannot accept the change they took it as negative. They primarily hate it, but now they are fighting against it. But we know bitcoin will won the battle at the end. Because bitcoin is the decentralized digital currency which is based on modern technology. And every technological invention is made through the young people of the society. And it is firstly accepted by them. So, there is no doubt it will win the race no matter who are against it.

The analyst isn't wrong, but they forget important things such as :
1. We can improve bitcoin's security by increase current key size or move to more secure cryptography
2. Blockchain technology might be obsolete, but the idea of decentralized, distributed and immutable ledger will stay
3. If blockchain become obsolete or there's better alternate, any developer can suggest the changes with new BIP and if majority agree, then bitcoin won't become "obsolete" after the activation

Bitcoin is one of the best cryptocurrency available in the Market.I don't know why people think in negative manner.You have to think in positive manner to succeed in life too.When the price of bitcoin reaches new peak,people start to sell the bitcoin.Use to buy at the lower price.

first of all the article says blockchain will become obsolete.
secondly this title says bitcoin will become obsolete
thirdly it says in 100 years

in short.. the cities at continent coast lines can become obsolete before blockchain

now in detail. the article mentions how encryption can become weak after 100 years. which is true. BUT what is not mentioned is that bitcoin and blockchain are not fixed to always us the same encryption for those 100 years.
instead of 256bit encryption things can move onto 1024bit or 2048bit encryption over 100 years.

with that said yes many may see bitcoin as myspace and current blockchain as analog 56k internet. but things evolve upgrade and get better.
at the moment yes the core devs have not done much to bitcoin and are instead adding features which are just trying to push people onto another network thats not blockchain based but does allow other cryptocurrencies to communicate together (LN) lets call LN simply paypal2.0 allowing many websites(crypto's) to advertise and markete themselves on one network.

and yes if btc's fee's/tx count limit(myspace membership/features) are not solved onchain(onsite), many people wont want to return and use myspace(btc) directly and instead prefer to use paypal2.0 and then move away to facebook/amazon/google(a new crypto)

but there will still be an evolution of the internet(blockchain) as a whole and many new cryptos(websites) will develop to meet peoples needs

i know many will argue and defend bitcoin until the sheep have been well fed. but unless the devs announce they will never do another consensus bypass mandatory bilateral split, and instead get back to the original consensus of decentralisation as oppose to distribution(DLT). then btc's risk to becoming 'myspace' is higher
and people will start to look for a replacement else where

Bitcoin, blockchain, or any kind of technologies like the internet in general or mobile phones theoretically has a chance to be obsolete one day. As long as technology will move forward, a lot of technologies will be obsolete. The question is, when? It might take centuries(100+ yrs) or millenniums(1000+ yrs) to be obsolete.

I think at some point all technologies become obsolete as more advanced technologies come along later. However, we are seeing just the beginning of the cryptocurrency development. This technology is new and innovative and it hasn’t yet had mainstream adoption. I think it will be a hundred years before it becomes obsolete. Until then, it will gradually become more valuable.

We have so many technology that have become obsolete. Before bitcoin or blockchain technology become obsolete it take up to two millennium. Do not disturb yourself over such analysis.

If what the 'analysts' say is true then surely crypto is doomed?  BTC is the gold of crypto, the grandfather of crypto etc and the coin which all alts run alongside with.

If this is the case, hopefully it will not be soon, but if this happens in the future then maybe the alts will be able to stand on their own. 

I did say it's going to take a couple of lifetimes though, as bolded above. Innovation is a given, and is meant to render past technology obsolete, so it should be perfectly reasonable to assume that something else will take its place in the far, far future. I'm not in any kind of hurry lol.


They're similar, but not the same. Bitcoin being obsolete (which is what the topic says) does not at all imply that the blockchain will be obsolete, but the blockchain being obsolete (which is what the article says) does imply that Bitcoin will be obsolete. The latter implies one thing, while the former says another thing entirely. Friedman, the person in question, doesn't even mention cryptocurrencies, so he's probably talking about the blockchain's potential application in different fields. This also explains the hype he mentions, considering the praise it receives from several high profile people.

Yes i could agree with the analyst and in my opinion the symptoms for this are actually happening nowadays. As we all know that there are too many smart traders and even develop a system that will automatically trade for you that will enable you to earn on it. And this is what happen if you can see the crypto market price volatility is so fast fluctuations are good but we could not get along as we could not always check market price every time like their system. People are getting greedy and this system will collapse and become obselete later on.

Blockchain is in its infancy stage and Friedman claiming that this technology will become obsolete? There are lots of problems and issues regarding the said technology and it is looking for a more development that will resolve the current issues face by the users.

People will say whatever they like just to suit themselves and massage their ego, i don't see that happening because crypto is here to stay. Where were all these analysts when bitcoin was still at infancy stage? Now, they can just predict whatever they like

Analyst points out the glaringly obvious. Everything we know will be obsolete one day, that's how technology and revolution works. Most things only have a lifespan of a few generations at most.

To say that blockchein technology is obsolete, it is necessary to compare it with something new, more perfect. While this technology can not be compared with anything. So it's too early to talk about this. It is clear that with time, any technology is out of date and this will sooner or later happen with blocking technology. However, so far this technology is not being used at full strength. Therefore, for blockchein technology, it can be said that everything is still ahead.