Topic: Bitcoin's End Game - page 2. (Read 1350 times)

What do you think about the presence of a government-backed Bitcoin rival, even the official government owner, because they see the success of Bitcoin in the digital world, people who have great authority will also be better able to do it. But Bitcoin has made a very good history for now, and it's not easy for users to forget.

The presence of Tether is a substitute for USD in the digital world, and is able to survive well, but cannot defeat Bitcoin. If we see now that almost all platforms have Tether coins (Ethereum, Omni, Binance, Tron, there may be other platforms). Because they are very dependent on the movement of Bitcoin. Maybe the advantage of Tether is, when the price of a coin drops, people will choose it, and when the price of a coin goes up, people will leave it.

But the obstacle is that the USDT must keep abreast of global stock developments. The increase and decrease depends on the global economy.

While Bitcoin, the closer to the max supply, the price of Bitcoin will increase. And we know now that Bitcoin supplay has almost reached the peak of 21 million.

What I'm worried about with crypto right now is not Bitcoin, but Altcoin (Ethereum, TRON, and a few other top coins), if that really happens.

Well I don't believe Bitcoin was invented to eliminate the government. It was invented by someone who probably want something safe away from the risky fiat and economy then. The risk is still present though, that is why we need something like Bitcoin more, esp in dangerous times.
Besides, the method of Bitcoin or similar decentralized tech is how societies are supposed to be ran. It will even be possible in the future to properly regulate the government through well  decentralized  technologies. We have to be regulating each other.
 No truly honest/transparent government should be scared of Bitcoin, blockchain or other decentralized stuff. We will use them to make the  world safe, honest, transparent, secure, and better

When the government creates their own digital currency they might force exchanges to stop the trading of bitcoin, and it's only going to be Centralized exchanges, because the ones that are decentralized will refuse that order. Centralized exchanges that refuse to accept the orders that are issued out by the government will be locked down, and trust me no exchange would love their years of hard work to end for nothing.

Imagine exchanges like Coinbase and Binance, they will accept the orders that are passed by the government. Another thing is that people around the world are afraid of the government, and they don't like getting in problems with them, so they will try to stay clear from it, just a few people will continue to make use of it.

I think bitcoin won't end because centralized system are not responsible on it, they are not concern on he things happen on decentralized system, there are so many people behind bicoin, they always support it a lot he time and they will not let this bitcoin ends.

Bitcoin has so many thing that gave to us, it helps us on our daily finances and everything, we learned on how we are going to invest and exchange something in the crypto world.
Well said, that is what I also want in this crypto world because we have freedom on our own money. We can control and do what ever we want.

With bitcoin's position in the market now it is really safe to think that people are choosing bitcoin than any other coin which means the support is massive that results to more unstable price. if the global pandemic stays longer, I wish it won't, the bitcoin will keep on soaring since the other contender market like stock market and oil industry just plummeted and no one's diving into rock bottom.

Every thing has change when the global pandemic came, but I have strong view about the market right now, it is pretty in good situation.

It's not that impossible we know Bitcoin is not backed by any central authority thus making the price unstable and speculative but with the recent events such as global pandemic and financial crisis that could change significantly and the trustworthy and stable assets such as Fiat and stocks could go default like for example Oil, many people put their trust in Oil but it failed.

Investors perspective in 2020 about has dramatically change and even popular mainstream business media including CNBC has recognize its value.

And that explanation alone will be the reason why we will not see the bitcoin's end anytime soon. as long as there are believers of bitcoin, bitcoin will exist. and without anyone controlling it, people patronizing bitcoin will have the freedom to use it. so i am not thinking of bitcoin's end but rather how to flourish its existence in the community. there are so many benefits when someone starts to learn about crypto, and that's why the government as well as banks are uneasy about its existence.

That's certainly true, mate. There will always be a way to circumvent governments' restrictions due to the decentralized and open source nature of Bitcoin. That's the beauty of all this. If Bitcoin was centralized, it would've been another story. Many countries are realizing that their efforts have been in vain, leaving them with no choice but to accept Bitcoin as legal tender. Most recently, Russia's central bank said that it was difficult to ban Bitcoin usage within the country. This tell us that other countries will soon follow in recognizing Bitcoin's resiliency within the mainstream world.

With how big Bitcoin has become since inception, it's looking very unlikely that there will be an "end game" anytime soon. There are so many nodes and miners supporting the Bitcoin blockchain, while developers are working hard to make the pioneer cryptocurrency the best money the world has ever seen. With the Lightning Network and several other attractive features, people will continuously demand Bitcoin across the market. While it's no secret that nothing lasts forever, I believe that Bitcoin is the exception.

Nonetheless, only time will tell us what lies ahead with the future of Bitcoin as a decentralized cryptocurrency for the masses. No one knows for sure what will happen in the future. The least we could do is diversify our investment into crypto, Fiat, and precious metals just to be safe. But given Bitcoin's current popularity, we won't need to worry about its "end game" at least in our lifetime. Just my opinion

A lot of nations already welcome's Bitcoin years ago and this isn't something new in here. Governments do not have any power to ban Bitcoin at all because it is a decentralized Crypto Currency without any central government controlling it. They can regulate its use but totally banning it is impossible for them. The only way they can do it is by shutting down the internet to the whole nation to stop connecting to the outside world and that's another impossible thing o happen.
Hats off to Satoshi Nakamoto for making such a powerful digital thing.

I think some nations already welcome Bitcoin and there will be no need for government to outrightly ban the use of  bitcoin. So if one nation is critical of it, users in that nation will find a way through the internet to byepas that nation regulation. Bitcoin traders will always find a way around the internet to do their investment except the internet is shutdown.

Not really, because Bitcoin has the backing of the government-sponsored media and banker-funded institutions like Blockstream.

That's certainly true, mate. It looks very unlikely that governments worldwide will agree unanimously on banning Bitcoin, since they "act on their own". There will always exist governments who support Bitcoin no matter what, especially if they're able to tax it. The only way I see Bitcoin will end is if the whole Internet is shut down in its entirety. But you and I know that's almost impossible to do. In the long run, governments will have no choice but to accept Bitcoin as legal tender. There will be a clash between the centralized (Fiat) and the decentralized world (Bitcoin). People will have a choice to support one currency from the other. Central banks will continue to push governments worldwide for heavy-handed regulation on the crypto space. But the Blockchain industry won't be going anywhere because it is resilient against third-party actions.

Nonetheless, no one can predict the future. Bitcoin may be still standing strong after all these years. But nothing lasts forever. Many things could happen that could determine "Bitcoin's End Game" in the long run. Despite what happens, there's no denying that Bitcoin has revolutionized the way people interact with money without the need for a middleman. Just my opinion

I feel that every one monetary standards, regardless of whether cryptographic money or not will in the end become ancient.

In future we'll have innovation that renders things like copyrights, licenses and for all intents and purposes everything else futile. Individuals will have 3D printers which will deliver materials on a nuclear scale, which can consequently permit everyone to print whatever they need , whether that be nourishment, a substitution book, a substitution house or whatever.
In a future where nothing is rare, cash has no worth.

it depends on the government on how they will manipulate their own financial system, i believe that it will never be a unanimous decision of every nation to ban bitcoin and be centralized because it will also a matter of suppressing freedom and that is why cryptocurrencies are made to have a decentralized financial system

Yes and one polemic in my country is that no one wants their absolute centralized coin because, lo and behold, their own institutions are NOT accepting it. This coin, was artificially pegged to assets. Such assets have been falling with the pandemic, but guess what, according to them the price of the coin remains magically the same.

The market however, thinks differently. But the worst thing is that people feel scammed, because once they get into it, they can no longer use it and have to sell it for a quarter or less of what the intended value was.

Governments made fiats, and their altcoins are as bad or even worse than those.

Bitcoin is valuable among other things because it doesn't depend on any government. Its like finding an oasis in a desert: A coin that doesn't lose value overtime, going against the Chicago school dogma of induced inflation to stimulate people getting in debt and have banks make more vapor money to loan thanks to the ponzi scheme of fractional reserve.

But the world will learn the truth someday and the Chicago school will be kicked. Be ready for Austrian school economics, its the only one that embraces money that doesn't lose value overtime...

I also believe bitcoin will not last forever, it will definitely end someday. But no one will ever know when that happened, which is definitely
not possible bitcoin to end in the near future. So no need to worry, now it's better to just focus on collecting bitcoin. There are several
reasons for bitcoin to end, which is that all countries may have their own coins. The next cause is the whole bitcoin has been successfully
mined for 21 million BTC, then the last cause is likely to appear new technology more sophisticated from the blockchain technology.

How about we not overlook the way that lately , the Governments are arising to be Bitcoin-accommodating as lately . like, as an example , the lifting of the boycott by the commercial bank of India and therefore the advancement made by the Chinese President. this is often the sign that they will not shut it down, rather, they let it get along side their arrangement on making their own advanced money. they could be an appointment to shut down some different coins, however they're going to make some hard memories closing down bitcoin for quite 10 years. that's the rationale they beginning to embrace it now instead of thoroughly prohibiting it.

Yes, I'm aware. But even if countries have legalized Bitcoin, they could change their stance in the future. Once governments see Bitcoin heavily used by people in the mainstream world on top of Fiat, they'll try to limit its growth or ban its usage. Right now, they're accepting Bitcoin and crypto as legal tender for taxation purposes. After all, they don't want to miss the income opportunities this emerging Blockchain industry provides. Believe me that once governments start rolling in their own digital currencies to everyday people, they might prevent anyone from using an alternative monetary system for their own benefit. This will take part especially in communist/socialist countries like Venezuela and China. Developed countries like the US and UK might still allow people to use Bitcoin but with greater limitations/restrictions than today.

No one knows what will happen in the future. As long as Bitcoin and other cryptocurrencies work their way to cooperate with the government, they'll be here to stay for a long time. Many governments still believe Bitcoin is used for money laundering and tax evasion, leading them to take certain actions which stifle the growth of the entire Blockchain industry. Thankfully, the transparent nature of Bitcoin's (and some other cryptocurrencies') blockchain ledger would allow governments to track & trace illegal activities easily. The ones in trouble would be privacy-oriented coins like Monero, Grin, and Zcash since their transactions are completely obfuscated from the general public. While it's easy to trace these coins via trades performed on a centralized exchange, P2P transactions made on-chain will be harder (if not impossible) to keep track of.

As I've said before, nothing lasts forever. If Bitcoin manages to survive for a couple of years from now, its longevity might be put at risk once all BTC are mined in 2100. Miners will still earn from fees, though. But if Bitcoin's price on the market is low, miners' operations will not be sustainable in the long run which would lead to the pioneer cryptocurrency's demise in the future. In the end, we should be prepared for the worst in this uncertain world of crypto. Just my thoughts

I have mixed feelings about this though. They won't be able to actually "stop" the usage of Bitcoin, be it in the case that they're against it. They might just make another cryptocurrency of their own and actually there are already plenty of countries planning to make a crypto of their own, because people would just continue using any workaround to still use Bitcoin through VPNs, in cases that ISPs blocked crypto-related sites.
Here is the list that I mentioned previously: https://coinsutra.com/national-cryptocurrencies/

I do no think you are wrong on your predictions but I do not see how that is the end game for bitcoin, governments know that regardless of what they do they cannot kill bitcoin, using the same technology as bitcoin will only reinforce the point that bitcoin is in fact a great form of money and when we add that the current system cannot remain in place forever since it is unstable by nature then the only thing that bitcoin needs to do is to survive and be a viable option until that day comes, once that happens bitcoin will be unstoppable and governments all over the world will be forced to accept it whether they like it or not.