Topic: Do you think there will ever be a technology that can replace Bitcoin? - page 2. (Read 271 times)

short answer from a bitcoin maximalist

yes there always is a possibility of something people prefer more then bitcoin
which is why devs should concentrate on bitcoin and not their sub-culture of promoting sub networks made just for their sponsors to profit from

a new system can recognise that people wanting to move money without middlemen dont need to be personally paying to 100 recipients in one payment. because real world utility. users only have normally 2 outputs.. 1 to go to the retailer/merchant/service they are trading with. and the other is the remainder of the balance returning to the sender

thus new networks would stick to lean tx size formats to allow more transactions per verification/confirmation period(block)

if fee's go crazy that outprice utility for the masses of "unbanked" third world users
a new blockchain would offer cheaper fees on the blockchain
EG
the current dev politics/sponsored game is to say people should use subnetworks for cheap fee, requiring middlemen routing to service the payments

in short use paypal instead of wire transfer, where they want to raise the price of wire transfer to push people to use paypal
whereby the wire transfer prices push out third world countries from having bank accounts


emphasis:
which is why devs should concentrate on bitcoin and not their sub-culture of promoting sub networks made just for their sponsors to profit from

200 years?? Everyone I know will be long gone by then. No one can predict so far into the future, we can only speculate using analysis of what we have in the present and past. For me, I think over the next decade, there will be a shift in the world of finance, central banks will be going digital. I believe this change will drive more people towards bitcoins and privacy coins because it will be the only way to escape the rabbit hole.

Back 15 years there wasn't Bitcoin. But today it exists and is the most popular cryptocurrency. It's pretty sure there will be something more strong which would be another trend. I am not saying Bitcoin would be replaced but would be more developed. People would start moving there same as people jump into Bitcoin. Technology growing fast right now, so there would be a more technical improvement which would lead discover of more currencies either Decentralized or centralized.

Yes, why not?

During my college days, I never expected to pay the street vegetable vendor from my mobile phone using a QR code, instantly! Now it's a common practice everywhere in my country.

This is one of many examples I can provide which will make you understand that what we can't think today, can happen tomorrow! So obviously there can be such innovations in the future where bitcoin may become completely outdated. Rather, the entire crypto market can become outdated. Innovation knows no boundaries!

Assuming that humanity will last more than a million years, it's pretty anti-innovation to think that Bitcoin will be the final form of currency/SoV. There will always be something better; it's just the matter of when. But regardless, if there's anything better, it's definitely not going to be invented in the foreseeable future.

We can't be sure of what will happen to BTC 200 years later. The halving will probably decrease miners' pay per block down to the smallest they could get but the price could be enormous.

Not sure if BTC will be replaced but sure the altcoins are aiming to be the top choices. Who knows Shib will make us all dog lovers and we are all in the Shibarium and its metaverse buying meta space. My best guess is that every country will have its stablecoin not exactly CBDC but using blockchain and back by commodity.

I mean it was a pretty damn significant upgrade for efficiency. It made it easier to debase the currency for sure, but going away from gold was in general moving from hard currency to weak but the upgrade to paper and then to digital was orders of magnitude greater efficiency for both those upgrades. Much easier to carry around paper bills than a bunch of coins.

Anyway that's not the point of the thread.

As you say, the future is going to last awhile haha, so yeah, the question remains.

Innovation is infinite, meaning there would always be room for improvements in any technology. It is impossible at the time to envision how that change would come, similar to how those in the early days of computers thought that with advancements computers would get progressively bigger not smaller to fit into our pockets.

Bitcoin is a futuristic technology, but the future is going to last a while.

The move to paper was barely an upgrade.

Interesting question about the future. Bitcoin is humanity's money for the digital age. It's secure, decentralized, sovereign, global, open and hard money. There's nothing like it in the world and it is so hard to make something like this that after countless attempts the rest of the crypto world simply gave up on trying to be like Bitcoin and gave up on trying to be money and had to go the route of smart contracts/apps/tokens instead.


But, given that the digital age is just beginning, and presumably will last for the rest of humanity, do you think there could ever be a technology, whether in 50 years or 200 years or 5000 years or whatever, that could be better and more powerful money than Bitcoin and potentially replace Bitcoin?

Now I know there's gonna be people who say don't worry Bitcoin is good lol I'm not asking if Bitcoin is in trouble I'm asking how likely do you think it could ever be superceded. Gold lasted as the best money for all of humanity until we moved from metals to paper and to digital. Presumably there isn't something beyond digital technology but given that we are just at the start of the digital age what do you think? Would even a technically superior digital money be able to displace the network effects of Bitcoin? It would likely have to be far superior to Bitcoin to even have a chance, like the motto goes you have to be 10x better to beat the current competition. Would it even be possible for a later digital money technology to be THAT much better than Bitcoin. Bitcoin itself could certainly be better in a few ways, and of course is upgradable. But to make something better from scratch and no network would be something else.


What do you all think? Is Bitcoin the final money solution for humanity or do you think there is some possibility in the near or far distance future that there will be another 'bitcoin-like' moment in history where someone will revolutionize money all over again and create something so much better than Bitcoin that it overcomes Bitcoin's network effects?