Pages:
Author

Topic: Bitcoin won't live to see the next 10 years - page 5. (Read 2941 times)

hero member
Activity: 2884
Merit: 794
I am terrible at Fantasy Football!!!
You cannot update the mining algorithm just because you want it, if you did that then all the money that miners have invested will be wasted, it will be the equivalent of declaring war on mining and it does not solve anything at some point people will find a way to build a miner capable to mine effectively whatever algorithm you create and then we are going to get the centralization of mining once again.

You can declare whatever you want this is the beauty of it.
Right now we have a declaration of war and is called Bitcoin Gold.

The problem is who will follow and how important as market share volume investment and others those people are.
If the user base moves to bitcoin gold the war is won and miners can stick with their sha mining asics.
If nobody gives a damn about bitcoin gold the war is lost and we say by by to another failed altcoin.

And of course there will always, no matter what algorithms you use, a so called asic that will do the hashing a lot faster and cheaper than the average computer. The problem is the difference is hashing power.
Even now it is possible to build asics specialized for other algorithms but you will have to build a machine that does nothing else and only gives you a 4 to 5  more hashing power than the gpus you could buy with the same money.
All of what you said is correct, but the OP was talking about why bitcoin did not changed the mining algorithm, and if I remember correctly some devs have said that is the last option, so it is not something that will be done without serious thought, if the devs wanted to do that then we will have the opposite scenario to the current one, in this scenario the devs want a change and not the miners and if they changed the algorithm it is possible someone else forked bitcoin to maintain the current algorithm, so I think trying to change the algorithm is only going to create more problems than the ones it could solve.
legendary
Activity: 1120
Merit: 1000
actually i'm not sure of that, whether bitcoin will be able to survive with all hard fork traversed. but I also can not conclude so I can only see it and wait for some good news that can convince me that bitcoin is able to survive.
In fact no one know about he future, but I think still we can evaluate from the present trend of increasing the number of bitcoin users that bitcoin will stay for a long long time, because people are currently taking more interested in bitcoin and the use of bitcoin for online shopping as well as in offline shopping is increasing from time to time which is also making bitcoin more secure.
full member
Activity: 630
Merit: 100
Yes.
Ten years away, it is not impossible Bitcoin increasingly accepted by the world community and can be used as a means of payment via the internet like a credit card. Besides, Bitcoin will be the same investment instrument as fiat. It is important for the government to set up an 'umbrella' that will protect the users of digital currency, be it Bitcoin or altcoin. Public security, especially in financial and payment systems, is indirectly related to the stability of a country's financial system.
hero member
Activity: 980
Merit: 502
Quick Disclaimer:
1. I'm not here to support any shitcoin.
2. We're all gathered here because of bitcoin, so it's hard for me to see it fading way.

Bitcoin was designed not be fully anonymous since transactions were open permanently for the public to view.
Authorities and security agencies were able to trace the bitcoin owners based metadata and transaction pattern, history and so on.

Some developers understand this issue and they go ahead to create some new altcoins which they are fully anonymous by implementing new hashing algorithms on their very new altcoins such as Dash, Monero, Zcash and Zcoin.

So why the bitcoin "hard fork" instead of updating the original bitcoin core?
Forked coins like BitcoinCash & BitcoinGold are moving from ASICs to GPU mining for faster transactions, why not BTC?
Why not update bitcoin mining algorithm to Equihash (zk-snarks) like Zcash and the next upcoming Bitcoin Gold BTG? 

Instead of updating the original bitcoin core to have more secure and fast transactions with lower xt fee, yet making hard forks!
I think hard forks will soon kill the original bitcoin.
 
What do you think, huh? Share with us what you think. thanks Smiley
Yes I do believe that bitcoin will be present after 10 years and don’t agree with the statement that bitcoin wont last to see the next 10 years because since bitcoin has started it has gained immense amount of popularity not only from the younger generations but also from the middle and old generations. Which has lead to increased usage and demand among the people. It is also evident from the increasing value of bitcoin day by day. Bitcoin has started to be accepted around the world now. And many people are using it for earning money, mining, trading, giving loans and gambling too. So it’s clear that bitcoin will last the next 10 years because it has a very high potential.
hero member
Activity: 2884
Merit: 794
I am terrible at Fantasy Football!!!
i wrote it somewhere else, but i'll say it again. i believe it will still be here, but not as "powerful" as now
And why it should not be as powerful as it is now? Do you mean bitcoin dominance? That number is irrelevant, bitcoin is the best crypto out there but there are other useful projects begin created so it makes sense as time passes that those projects begin to reduce bitcoin dominance.
full member
Activity: 168
Merit: 100
actually i'm not sure of that, whether bitcoin will be able to survive with all hard fork traversed. but I also can not conclude so I can only see it and wait for some good news that can convince me that bitcoin is able to survive.
hero member
Activity: 616
Merit: 502
Quick Disclaimer:
1. I'm not here to support any shitcoin.
2. We're all gathered here because of bitcoin, so it's hard for me to see it fading way.

Bitcoin was designed not be fully anonymous since transactions were open permanently for the public to view.
Authorities and security agencies were able to trace the bitcoin owners based metadata and transaction pattern, history and so on.

Some developers understand this issue and they go ahead to create some new altcoins which they are fully anonymous by implementing new hashing algorithms on their very new altcoins such as Dash, Monero, Zcash and Zcoin.

So why the bitcoin "hard fork" instead of updating the original bitcoin core?
Forked coins like BitcoinCash & BitcoinGold are moving from ASICs to GPU mining for faster transactions, why not BTC?
Why not update bitcoin mining algorithm to Equihash (zk-snarks) like Zcash and the next upcoming Bitcoin Gold BTG? 

Instead of updating the original bitcoin core to have more secure and fast transactions with lower xt fee, yet making hard forks!
I think hard forks will soon kill the original bitcoin.
 
What do you think, huh? Share with us what you think. thanks Smiley


We're not so sure about that. This hard forks that you were saying is like an Airdrop, but you do have a point that it might kill the original bitcoin someday(let's hope not). The reason behind this hard fork is SegWit, correct me if I'm wrong. It seems that they're trying to make a coin that will surpass bitcoin or something looks like bitcoin.

And they just did, we all know about this BITCOINCASH, but I didn't say that it surpassed bitcoin, NO, what I mean is its name sound like bitcoin but is not bitcoin at all. It is like those shitcoin out there.
full member
Activity: 308
Merit: 100
In my optimism bitcoin live to see 10 years.It is outdated now,so being a leading coin in crypto market is very challenging for bitcoin.It is especial to give an exceeding performance on bitcoin to survive in the crypto market.Bitcoin could make up 10% of the $5 trillion average daily volume in the foreign exchange market in 10 years,and it's market capitalisation could grow to $1.75 trillion which would make each bitcoin worth $100,000.
newbie
Activity: 72
Merit: 0
Yes, bitcoin will still be much around but it might not be as popular as it is right now.
hero member
Activity: 1428
Merit: 506
Bitcoin will last long, it will survive and the price will continue to rise. I can see a greater future for bitcoin users that someday digital currency will be spreading in the world.
[/qoute]
I am seeing bitcoin will be live in the more upcoming years. With it's price seems continuing to rise I can see it will be having a great future. The more users the demand is increasing so more likely bitcoin will last longer.
sr. member
Activity: 588
Merit: 251
HELENA
Bitcoin will last long, it will survive and the price will continue to rise. I can see a greater future for bitcoin users that someday digital currency will be spreading in the world.
full member
Activity: 938
Merit: 137
Bitcoin will in any case live to the next ten years. If his support team does not eliminate his shortcomings, then the new altcoins will take his place as the leader of the crypto currency, however, I believe Bitcoin will continue to exist for more than a decade. So, everything will depend on which crypto currency is technically more perfect.
full member
Activity: 322
Merit: 110
elysian.finance
I don't know if bitcoin will last long. Let us all wait and see for the upcoming years of bitcoin. I will just continue to trade until btc and alts exist.
full member
Activity: 392
Merit: 105
It is true that to speak of any crypto currency in the long term is very risky, however the conditions seem given for bitcoin to reach 2027 with great health and success because despite the multiple adversities that it has faced, it has been able to sustain itself as the most popular of all despite the new and versatile coins that are appearing. It is true that there will be many more obstacles to overcome, but fortunately things have worked relatively well so far, and I believe that everything that comes will be for the good.
legendary
Activity: 2576
Merit: 1860
I think Bitcoin will continue to exist in the next 10 years. It will not even slow down its pace during that time. That will probably be a time of a very widespread and well-accepted Bitcoin. 10 years from now, more and more countries are already accepting bitcoin and other cryptos. The value of each BTC might already be in the $50,000 or more within 10 years.
member
Activity: 98
Merit: 11
Trusted Token & Confidence System.
Quick Disclaimer:
1. I'm not here to support any shitcoin.
2. We're all gathered here because of bitcoin, so it's hard for me to see it fading way.

Bitcoin was designed not be fully anonymous since transactions were open permanently for the public to view.
Authorities and security agencies were able to trace the bitcoin owners based metadata and transaction pattern, history and so on.

Some developers understand this issue and they go ahead to create some new altcoins which they are fully anonymous by implementing new hashing algorithms on their very new altcoins such as Dash, Monero, Zcash and Zcoin.

So why the bitcoin "hard fork" instead of updating the original bitcoin core?
Forked coins like BitcoinCash & BitcoinGold are moving from ASICs to GPU mining for faster transactions, why not BTC?
Why not update bitcoin mining algorithm to Equihash (zk-snarks) like Zcash and the next upcoming Bitcoin Gold BTG? 

Instead of updating the original bitcoin core to have more secure and fast transactions with lower xt fee, yet making hard forks!
I think hard forks will soon kill the original bitcoin.
 
What do you think, huh? Share with us what you think. thanks Smiley

I do believe that BTC will live on forever. As long as we have electricity BTC will be here.
newbie
Activity: 42
Merit: 0
whaaaat ? why do you think so?
full member
Activity: 238
Merit: 105
Voted 'yes'. I presume Bitcoin will still be around in 10 years but probably won't be the leading coin in the world of cryptocurrencies anymore. It is getting outdated as you sort of mention in the OP and other, better performing altcoins are already emerging rapidly. BTC dominance in the total market capitalization is 49% nowadays, a huge drop compared to the 80 - 90% we've seen up until march this year.

That is just the marketing maturing. Bitcoin is neither going away nor becoming obsolete. Lightning is essentially smart contracts. If bitcoin gets killed by a clone, and not something completely different, like eth, that means it must be due to some economically catastrophic decisions taken by the core devs. Which, unfortunately, is not unlikely. But I have faith things will have already settled down in 2018.
member
Activity: 112
Merit: 10
I'm sure yes, because we see now the growth of bitcoin users in various countries. If bitcoins are not yet acceptable in most countries, this is the process. Not all things can be directly accepted by humans, there must be gaps. But when viewed, bitcoin is very prospective and helps and facilitates transactions and investments in the sharing of areas.
MMA
legendary
Activity: 1134
Merit: 1000
The hard fork so far has only seemed to strengthen the crypto economy so I think It will only get better
I can also expect so. i think that even the next hardfork will also make bitcoin more strong and reliable. people will continue taking intereste in bitcoin and which will even make bitcoin more reliable and secure for trading.
Pages:
Jump to: