Bitcoin Domination: The year of Bitcoin total dominance?

hovrah

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Quote from: Gotottack on August 21, 2017, 12:47:04 PM

Quote from: cybersofts on August 21, 2017, 07:19:50 AM

Bitcoin is digital currency that is fully decentralized, fast, secure with lower transaction fees.
In fact, bitcoin is the perfect currency of our time. Bitcoin provides the perfect system of cashless economy (future economy).

So which year do you think of bitcoin total dominance and why?

It hasn't happened yet! There would come a time that bitcoin will definitely be the talk of the town and that everybody will be into it. It would be easier to use than today and we can use it almost everywhere. When that day comes, that would be the best year for bitcoins and it would be considered the day bitcoin dominated other financial instruments.

The fact is that the bitcoine rate for today is a little disappointing. It was very joyful when Bitcoin went up and practically showed a very rapid growth rate of its prices. But today, small fluctuations and a practical decline of $ 300,400 a little annoying. It seems that all the plans I have built for myself are collapsing. But that nemesis I see that over the past year Bitcoin reality has become the leader among all the crypto currency.

Gotottack

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Quote from: cybersofts on August 21, 2017, 07:19:50 AM

Bitcoin is digital currency that is fully decentralized, fast, secure with lower transaction fees.
In fact, bitcoin is the perfect currency of our time. Bitcoin provides the perfect system of cashless economy (future economy).

So which year do you think of bitcoin total dominance and why?

It hasn't happened yet! There would come a time that bitcoin will definitely be the talk of the town and that everybody will be into it. It would be easier to use than today and we can use it almost everywhere. When that day comes, that would be the best year for bitcoins and it would be considered the day bitcoin dominated other financial instruments.

bitcoinmaniac52

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Any year Bitcoin goes up by 1,000% is a total dominace year for us. Cheesy

I don't even think we are at the peak. Give it a few more months and we will be over $5,000 for sure!

iram1011

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Quote from: severaldetails on August 21, 2017, 11:43:50 AM

Quote from: mrcash02 on August 21, 2017, 11:37:58 AM

Quote from: shine1123 on August 21, 2017, 11:31:38 AM

Quote from: cybersofts on August 21, 2017, 07:19:50 AM

Bitcoin is digital currency that is fully decentralized, fast, secure with lower transaction fees.
In fact, bitcoin is the perfect currency of our time. Bitcoin provides the perfect system of cashless economy (future economy).

So which year do you think of bitcoin total dominance and why?

Maybe in the next 10-20 years we will use bitcoin completely for online transaction and maybe for real life transaction too and using internet too of course. The most important think is our technology always upgraded every year and so many innovative thing about digital thing born too. I'm sure someday people will notice more about bitcoin.

I agree, 10-20 years is enough time to make Bitcoin powerful being accepted everywhere on the online world and maybe 50% of real world, or more... But until there we have many years yet, technology changes very fast, we need to be aware that another Crypto-Currency can appear and make Bitcoin worthless, it's possible to happen and we must be prepared for this by reading main Crypto-Currency news for the next years.

Unfortunatelly I don't think that bitcoin being accepted will increase much more than we have it today.
I suppose people won't want to pay with it because the price increases.
When a shop offers that you can pay with bitcoins, I really fear it will not be used and the offer will disappear again.
Even if another crypto currency would take bitcoins place, I think it would have the same problems.

People not willing to use Bitcoin in everyday and small transactions is a huge drawback to the Bitcoin as a currency. This is all because of its deflationary factor. Bitcoin is largely an investment asset today which guarantees people huge returns in matter of months. Why would anyone be willing to sell it then. This ultimately limits its chances of becoming a dominant world currency.

severaldetails

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Quote from: mrcash02 on August 21, 2017, 11:37:58 AM

Quote from: shine1123 on August 21, 2017, 11:31:38 AM

Quote from: cybersofts on August 21, 2017, 07:19:50 AM

Bitcoin is digital currency that is fully decentralized, fast, secure with lower transaction fees.
In fact, bitcoin is the perfect currency of our time. Bitcoin provides the perfect system of cashless economy (future economy).

So which year do you think of bitcoin total dominance and why?

Maybe in the next 10-20 years we will use bitcoin completely for online transaction and maybe for real life transaction too and using internet too of course. The most important think is our technology always upgraded every year and so many innovative thing about digital thing born too. I'm sure someday people will notice more about bitcoin.

I agree, 10-20 years is enough time to make Bitcoin powerful being accepted everywhere on the online world and maybe 50% of real world, or more... But until there we have many years yet, technology changes very fast, we need to be aware that another Crypto-Currency can appear and make Bitcoin worthless, it's possible to happen and we must be prepared for this by reading main Crypto-Currency news for the next years.

Unfortunatelly I don't think that bitcoin being accepted will increase much more than we have it today.
I suppose people won't want to pay with it because the price increases.
When a shop offers that you can pay with bitcoins, I really fear it will not be used and the offer will disappear again.
Even if another crypto currency would take bitcoins place, I think it would have the same problems.

BCTBF

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I can not predict about this, but if bitcoin continues to be promoted and growing well, I think bitcoin can be used and accepted by society as a legitimate payment tool, and it may take more than 10 years to realize it.

iram1011

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I don't think until there are governments and central banks, Bitcoin will have a dominant role in financial system. There are many reasons that makes Bitcoin inefficient as a national currency in which deflation is the major. Bitcoin will continue to exist along with fiat or any kind of future government backed currency. But no government can let Bitcoin dominate country's market.

mrcash02

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Quote from: shine1123 on August 21, 2017, 11:31:38 AM

Quote from: cybersofts on August 21, 2017, 07:19:50 AM

Bitcoin is digital currency that is fully decentralized, fast, secure with lower transaction fees.
In fact, bitcoin is the perfect currency of our time. Bitcoin provides the perfect system of cashless economy (future economy).

So which year do you think of bitcoin total dominance and why?

Maybe in the next 10-20 years we will use bitcoin completely for online transaction and maybe for real life transaction too and using internet too of course. The most important think is our technology always upgraded every year and so many innovative thing about digital thing born too. I'm sure someday people will notice more about bitcoin.

I agree, 10-20 years is enough time to make Bitcoin powerful being accepted everywhere on the online world and maybe 50% of real world, or more... But until there we have many years yet, technology changes very fast, we need to be aware that another Crypto-Currency can appear and make Bitcoin worthless, it's possible to happen and we must be prepared for this by reading main Crypto-Currency news for the next years.

shine1123

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Quote from: cybersofts on August 21, 2017, 07:19:50 AM

Bitcoin is digital currency that is fully decentralized, fast, secure with lower transaction fees.
In fact, bitcoin is the perfect currency of our time. Bitcoin provides the perfect system of cashless economy (future economy).

So which year do you think of bitcoin total dominance and why?

Maybe in the next 10-20 years we will use bitcoin completely for online transaction and maybe for real life transaction too and using internet too of course. The most important think is our technology always upgraded every year and so many innovative thing about digital thing born too. I'm sure someday people will notice more about bitcoin.

webtricks

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Quote from: cybersofts on August 21, 2017, 07:19:50 AM

Bitcoin is digital currency that is fully decentralized, fast, secure with lower transaction fees.
In fact, bitcoin is the perfect currency of our time. Bitcoin provides the perfect system of cashless economy (future economy).

So which year do you think of bitcoin total dominance and why?

Decentralized - You really think when majority of us use exchanges to buy/sell Bitcoin, decentralization exist anywhere. Most of the exchanges work on centralized model and you have to mold you prices and supply according to their requirement.

Fast - I have used fees of 0.0004 BTC recently and my transaction is pending from last 6 hours, still waiting. Bitcoin is no longer cheap and fast.

Secure - In the era when most people don't understand how to use Bitcoin and simply rely on exchange or web wallet, I don't believe Bitcoin is secure as it is visioned through private keys.

So in my views, Bitcoin is no where near perfect currency and needs much amendments before coming main stream.

pressureonme

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Quote from: cybersofts on August 21, 2017, 07:19:50 AM

Bitcoin is digital currency that is fully decentralized, fast, secure with lower transaction fees.
In fact, bitcoin is the perfect currency of our time. Bitcoin provides the perfect system of cashless economy (future economy).

So which year do you think of bitcoin total dominance and why?

The total dominance years were between 2014-2016, we already finished that era. The dominance of bitcoin will continuously go down by the years goes by. Other promising altcoins are creating great market values and trade volumes.

asriloni

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Quote from: cybersofts on August 21, 2017, 07:19:50 AM

Bitcoin is digital currency that is fully decentralized, fast, secure with lower transaction fees.
In fact, bitcoin is the perfect currency of our time. Bitcoin provides the perfect system of cashless economy (future economy).

So which year do you think of bitcoin total dominance and why?

But looks some of your word must be corrected by the why, because the bitcoin is not totally perfect. A lot of people are still complaining about the transaction of bitcoin is slow. Remember that even the segwit update already happened but that was not giving the more efficiency to validate the more transaction in every block.

CyberKuro

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Quote from: ScriptYoYo on August 21, 2017, 07:25:55 AM

I believe that bitcoin will not completely dominate, because the banking system will not allow it to be done and will simply prohibit its use in the country. In addition, now bitcoin is already an investment, not a currency.

If the banksters decide to, they can prohibit bitcoin being used in most countries as they have power to do it, by push govs to issues a rule about banning bitcoin. Or, banksters could invest Millions-Billions of dollars right now and dump bitcoin when it reach $10K or $20K, then people will find bitcoin crash.
Anything can happen in the future regarding central bank systems against decentralized bitcoin.
So, I agree that bitcoin can't fully dominate currency market because it has some shortcomings to be used at world scale. Bitcoin may still be used in conjunction of fiat currency, as an alternative digital currency.

Immakillya

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That's true. It's decentralized but low transaction fees? I doubt that. The normal fee for sending bitcoin is .001 btc. I don't think that is low. This is the problem they should fix. Cut down the fee and faster confirmation time. Anyway, i don't think cash less world is possible because you need technology to ise them. Electricity for the devices to send the funds is a must too. What will happen if there's a shortage of electricity? That's a disaster. Cash is still the best.

CoinOp

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I think approaching and after the next halving it will start to take off more and become more mainstream. Also with growing number of ATM's.

joseafonso123az

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As bitcoin is volatile, I think it would be difficult for it to be the dominant currency in the world. Once if it gets stable, and the corporate bankers don't have any issues with it ( because they will always promote fiat currency until they can get an upper hand on bitcoin), then it can be the dominant currency. So I think this wont happen any way soon.

CryptoBry

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Quote from: cybersofts on August 21, 2017, 07:19:50 AM

Bitcoin is digital currency that is fully decentralized, fast, secure with lower transaction fees. In fact, bitcoin is the perfect currency of our time. Bitcoin provides the perfect system of cashless economy (future economy). So which year do you think of bitcoin total dominance and why?

We all want Bitcoin to be the most dominant cryptocurrency ever in the history of digital currency. And I am sure that could be happening in the coming months and years as more and more adoption and markets would be opening for Bitcoin. We have just seen the tip of the iceberg for Bitcoin and the bulk of its body would be realized soon. This is the reason why there are so many analysts predicting that Bitcoin would grow this and that figures.

Aamir1

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There is no confirmed year or nor someone can do even a rough estimate about the year when bitcoin will dominate world economy and take over the currency system of the world. Bitcoin has a growing nature and there is no doubt about that, but it needs a lot of time to discover all the world and get used by every person around the globe, so there is a far way to go yet for bitcoin i think.

ScriptYoYo

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I believe that bitcoin will not completely dominate, because the banking system will not allow it to be done and will simply prohibit its use in the country. In addition, now bitcoin is already an investment, not a currency.

cybersofts

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Bitcoin is digital currency that is fully decentralized, fast, secure with lower transaction fees.
In fact, bitcoin is the perfect currency of our time. Bitcoin provides the perfect system of cashless economy (future economy).

So which year do you think of bitcoin total dominance and why?

Topic: Bitcoin Domination: The year of Bitcoin total dominance? (Read 480 times)