Topic: Do you think bitcoins will disapear or become unused? - page 31. (Read 26815 times)

I also have the same understanding.
If Bitcoin don't become mainstream in next a few years and its value remain low I think that soon most people will loose interest and just leave, trying to sell as much BTC as they can.
It's human nature that when some new technology or product can't make breakthrough people loose faith and start to look for a next a ''great thing''.

Satoshi himself said that, well not exactly that but something similar. He i said something like "Bitcoin will be worth nothing or a lot". Im trying to find the exact quote but I can't. It must still be in this forum unless the post got deleted.

bitcoin will become unused if  the bitcoin network becomes unreliable, If you want reliability, you’ll have to start paying higher and higher fees on transactions, and there will be a point where fees get high enough that people stop using Bitcoin.

bitcoins will not disappear, satoshi did.

My personal opinion is, Bitcoin will live on. The value may decrease or increase, but we are living on an ever advancing world, and because of this, the technology behind bitcoin (blockchain) will be used one way or the other. We have heard and seen in the past, about bitcoin dying and we also have seen big problems with bitcoin such as protocol issues, bitcoin theft/heist etc. But even after this, Bitcoin has stayed and still going strong.

Ofcourse no one can predict what will happen in the future, but one can assume the future with careful analysis of the past.

-uni

That is one of the questions I have.  Is there anyone working on improving the infrastructure?  We need BTC to be faster so that customers do not have to sit around and wait for confirmations to happen before they take their product.

It all depends on people adopting them and using them a a day to day currency. If everyone just collects them and does not use them then they will fail but as a community we have to spread the good word of Bitcoin

In 10 years BTC will disappear  or will be the best coin of the world

In my opinion, the only way Bitcoin will never be used or will just disappear, would be in the event of a new better coin being developed.  So as long as it can be upgraded to to faster confirmations at some point, I think it will always be kept in use.

The chance of bitcoin will have a good future are 50% and bitcoin will be disappeared or unused too have a same chance 50%.
So far it's hard to predict.

It is really hard to say yes or no. It depends on lots of variables which some of them are really hard to control.

I just want to mention some criteria which would seriously affect the bitcoins future availability.

Limited supply: Although it is deflationary currency,  some of people just scares of its limited quantity property. There are some thoughts that this limits also usage of bitcoin. People hopes the price increase just by holding BTC. And this of course a limit for usage.

Large stakeholders: There are really big BTC holders and its an unknon situation that when or how this BTCs will move.

Regulation: How governments will try to regulate or whether behave to BTC peacefully or not is again another variable.

Block size(Transaction per second) issue: This is important to test whether it can replace any centralised paymnet system. Wrong choice of solution or being too late can affetct bitcoin's availabilty. (Dont forget centralised parties are also involving blockchain, so they are trying to improve their system)

I think these are important variables for deciding the future of bitcoins availability.

Bitcoin is store of value, because there are limited quantity. Even gold don't have limited quantity, there will always be new mines, new asteroids full of gold etc.
Its unique store of value, one of a kind, that can't be cheated, manipulated etc.

Let it slip, no, bagholders will fight hard to keep BTC on top... BUT ... BTC has several pros and cons tugging at it.

pros ...
First to market - it grabbed peoples imaginations before anything else did
Strong user/coder base - lots of eyes on each problem

cons ...
First to market - it is bound to make a wrong turns and/or bad decisions
HEAD-strong user/coder base - consensus based leads to slow decisions & deadlocks on decisions (possibly even forks)

I myself am of the opinion that, while useful right now, sooner or later BTC is going to stall because it will find itself at a coding 'fork in the road' that it/they just cannot decide upon fast enough to avoid a problem. I mean, just look at the argument happening right now about blocksize, sure it hardly affects the common user, but it IS a problem. Now consider how long it will take to sync a new wallet installation after the next 5 or 6 years of the blockchain growing in total length THEN tell me how convenient BTC is.

ALTcoins have the advantage of seeing the growing pains BTC is experiencing, and resolving them while their coins are still .. um .. infantile (for lack of a better term). Sooner or later (4-8 years?) an ALTcoin will slowly rise to equal BTC and hopefully I have already bought a few thousand of them at the 200-300 satoshi range  

Just my 0.00005275 BTC worth

That's an interesting point. I agree with you on all those altcoins except maybe Litecoin and very few others, but Bitcoin I think has a big future. I'm not talking about billions of years, you are absolutely right at that part, Entropy always wins out in the end, but in the let's call it near future, in the next 200-300 years, Bitcoin will not disappear and I think that this period of time is which is more logical to talk about.

I think it's possible if there's currency which is better than bitcoin & solve all disadvantage of bitcoin such as big blockchain size, slow confirmation & support for many transaction
But, there aren't any currency which is better than bitcoin. So, bitcoin won't disappeared & might replace fiat

Bitcoin has it's uses and advantages. Bitcoin can transfer money from one person to another across the world almost instantly with little government control. It has proven to be successful in the gambling sector and I can see it grow in the gaming sector. It would take another revelation to take bitcoin down. As long as bitcoin exchanges exists, the will be bitcoin users.

not until the end of the world.

don't let fraud crash the bitcoin.

No it wont, everyone will always use Bitcoin until the end of the time

I use to think bitcoin will never be use by the people as its not a real money. Later did I know its value was $1k. And so go back to this forum and learn more about it.

The internet is the future and the future needs future currencies and its always Bitcoin that comes in mind.

ofcourse bitcoin will become unused in the future, especially when there's no activites or no bitcoin transacted,
just like any currency,when food become rare thing,people will rather finding food than finding gold even gold is rare too, because gold can't be eaten

Normally the success of bitcoin worldwide must depend from some factors but even with that condition I think that bitcoin will be a very successful product in the market of the currencies. Doesn't have any importance that actually is used by very few people compared to those who don't know or don't use it. If can be successful as a product will be known for sure in the times to come. And this will increase even more its value.