Future of Bitcoin in 5 years ___ what will be ?

eaglewhite80

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Quote from: EdenHazard on May 01, 2018, 02:49:34 AM

What are our benchmarks for predicting bitcoin in the future?

Actually, I don't understand why many people are worried about the future of bitcoin. Their basis is poorly understood for me to believe that altcoin is capable of replacing bitcoin.

Most times, I feel it is just a way of most of the people in this category trying to console themselves for missing the bitcoin train. The future is what no one can know, let alone be worried about it like you have said, but one thing I am certain of is that bitcoin is highly established that any altcoin will easily replace it in coming years and that is what most of the noobs won't understand.

H0USE

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Quote from: abdullahkhan9512 on January 27, 2018, 12:34:34 AM

So you guyz ever think if anyother cryptocurrency replace Bitcoin in 5 years what will be the condition be of the other cryptos.

Today Bitcoin is the king of the cryptos as we can say to watch the codition of cryptos. So, Is there is any Cryptos which have tendency to replace Bitcoin.

There is no other currency in my opinion that can replace btc ever because no other coin can match the technology of btc anytime.The transactions fees have been reduced which is an other important factor.The coming hard folks will improve the technology further.This market is unpredictable and we cant make any speculations regarding such a long period of 5 years but still we can say that future for btc is bright and it will be future currency as payment system.

HiringYou

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Bitcoin is totally unpredictable.No one can say what will happen in coming years.As we can see there are many alternate coins in the market and they are becoming a big competation for bitcoin.It basically depends on the advantages which a coin can give to a user.Either it can be bitcoin or some other alternate coin.More the profit more will ne the users.Nodoubt today bitcoin is considered above the other coins but we can't say that this scenario will remain same in coming years too.But this is sure that bitcoin will never end.Many international companies are accepting bitcoins and many countries have declared it legal.So we can hope that it will grow in coming years .

tikosewad3869

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Quote from: abdullahkhan9512 on January 27, 2018, 12:34:34 AM

So you guyz ever think if anyother cryptocurrency replace Bitcoin in 5 years what will be the condition be of the other cryptos.

Today Bitcoin is the king of the cryptos as we can say to watch the codition of cryptos. So, Is there is any Cryptos which have tendency to replace Bitcoin.

Of course! now there are many coins that have the potential to replace the bitcoin position. newcomer coins are now contributing greatly to replacing bitoin. but, although other coins can replace bitcoin, it is only temporary. I think bitcoin will be the father or king of other coins. to be exact, 2025 later bitcoin will fill out a new record that is very stirring all over the world.

EdenHazard

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What are our benchmarks for predicting bitcoin in the future?

Actually, I don't understand why many people are worried about the future of bitcoin. Their basis is poorly understood for me to believe that altcoin is capable of replacing bitcoin.

thecodebear

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Quote from: ktabb on January 27, 2018, 03:35:55 PM

Quote from: abdullahkhan9512 on January 27, 2018, 12:34:34 AM

So you guyz ever think if anyother cryptocurrency replace Bitcoin in 5 years what will be the condition be of the other cryptos.

Today Bitcoin is the king of the cryptos as we can say to watch the codition of cryptos. So, Is there is any Cryptos which have tendency to replace Bitcoin.

I think Bitcoin might be zero. It has major scaling issues and cannot be used as a payment system at all because of transaction times and fees. The value of decentralization is not nearly enough to warrant paying those high fees and waiting so long to transfer money when you can do it instantly for free with centralized services like Venmo.

It is possible than an alt coin will rise again and eclipse bitcoin if they can scale to about 1000 times the transaction capacity of bitcoin (something closer to what Visa and Mastercard do, which is about 3,000 transactions per second combined). There are still problems though with things like the mining energy usage and government regulation. We'll see what happens. I think it is far more likely that an alt coin eclipses bitcoin in 5 years than bitcoin remaining the crypto king.

If Bitcoin can't solve scalability then it (and all cryptos) will fade away. If another coin can do 1000x the tx capacity then bitcoin can also implement that technique. If an altcoin does 1000x txs by just making blocksizes huge then that is no different than any existing centralized trusted third party service and it will be entirely decentralized, thus losing the most important and revolutionary benefits of blockchain, therefore it won't surpass Bitcoin because it's no different than non-blockchain services people already use.

For that reason if cryptos succeed, Bitcoin should succeed and still be on top. The only way it would fail but an altcoin would take its place is if a huge step was made in the technical progress of blockchain and Bitcoin for some reason refused to implement it.

Epimetheus

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Quote from: abdullahkhan9512 on January 27, 2018, 12:34:34 AM

So you guyz ever think if anyother cryptocurrency replace Bitcoin in 5 years what will be the condition be of the other cryptos.

Today Bitcoin is the king of the cryptos as we can say to watch the codition of cryptos. So, Is there is any Cryptos which have tendency to replace Bitcoin.

Yes in this time Bitcoin is the leading cryptocurrency in the world. It is highly recommended and trusted crypto currency. Bitcoin is mainly famous for its decentralised nature and Blockchain technology and its uninterrupted money transaction facility. Many people choose Bitcoin transaction facility as a first choice for their money transaction. Many growing country in the central Africa using Bitpesa for their money transaction. Many international companies like Microsoft, Amazon etc accepting Bitcoin for their various products. In country like japan their government praise their people to use bitcoin. So these things show Bitcoin will have a good future in next five years.

followmenot

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I think that bitcoin will be globally adopted as payment option in every major shop around the world. Especially internet shopping will be shaped by bitcoin (yes I am talking about amazon in this post).

First77

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Reserve bank of India (RBI) has banned Indian banks from supporting with Bitcoin transactions. USA could be next to come after Bitcoin.

mostkey

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there is a possibility that it can happen, though the possibility is very small and not necessarily. but it does not hurt to speculate and start investing in one of the largest amounts of crypto natural currencies. because who knows that is what can replace bitcoin

Slow death

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Quote from: abdullahkhan9512 on January 27, 2018, 12:34:34 AM

So you guyz ever think if anyother cryptocurrency replace Bitcoin in 5 years what will be the condition be of the other cryptos.

Today Bitcoin is the king of the cryptos as we can say to watch the codition of cryptos. So, Is there is any Cryptos which have tendency to replace Bitcoin.

Why the hell are you worried about knowing that? It is not as if someone has said: all altcoin are competing and the goal is to be number 1. Who chooses the number one is the market, so you should not be worried to know if there is some altcoin that will overcome bitcoin because even that altcoin had some kind of code encoded by aliens, the market is would decide if that altcoin replace bitcoin

Quote from: rizkyhiw on January 27, 2018, 03:42:08 PM

In fact, many of today's altcoins say can replace bitcoin in the future but instead they eliminate the peculiarities of bitcoin.

many altcoins are centralized

Most Cryptocurrencies Are More Centralized Than You Think

vicvicto17

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Quote from: BitHodler on January 27, 2018, 03:48:11 PM

No altcoin will ever reach that stage, so it isn't really a relevant question. Bitcoin will become only stronger throughout the years, and that success will lift the entire altcoin market up with it.

Bitcoin's ecosystem can't be overtaken, and when it does in the very far future, it will be something that makes every crypto coin obsolete, or better said, it will be a brand new piece of technology.

Don't let yourself get fooled by the market cap of certain altcoins. The market caps of altcoins are purely based on their ridiculous circulating coin supply, which is what people seem to ignore.

No one knows, but i feel that all cryptocurrencies will rise up from ashes. it depends on how it will manifest! but for sure bitcoin will be massively adopted. circulating supply is good i hope trading is one way to help the economy going strong. because without bitcoin some of us will be jobless.

BitHodler

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No altcoin will ever reach that stage, so it isn't really a relevant question. Bitcoin will become only stronger throughout the years, and that success will lift the entire altcoin market up with it.

Bitcoin's ecosystem can't be overtaken, and when it does in the very far future, it will be something that makes every crypto coin obsolete, or better said, it will be a brand new piece of technology.

Don't let yourself get fooled by the market cap of certain altcoins. The market caps of altcoins are purely based on their ridiculous circulating coin supply, which is what people seem to ignore.

rizkyhiw

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Too many possibilities, one of which might happen. But there will be many aspects to consider.

What about its potential, because bitcoin has many features.

In fact, many of today's altcoins say can replace bitcoin in the future but instead they eliminate the peculiarities of bitcoin.

ktabb

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Quote from: abdullahkhan9512 on January 27, 2018, 12:34:34 AM

So you guyz ever think if anyother cryptocurrency replace Bitcoin in 5 years what will be the condition be of the other cryptos.

Today Bitcoin is the king of the cryptos as we can say to watch the codition of cryptos. So, Is there is any Cryptos which have tendency to replace Bitcoin.

I think Bitcoin might be zero. It has major scaling issues and cannot be used as a payment system at all because of transaction times and fees. The value of decentralization is not nearly enough to warrant paying those high fees and waiting so long to transfer money when you can do it instantly for free with centralized services like Venmo.

It is possible than an alt coin will rise again and eclipse bitcoin if they can scale to about 1000 times the transaction capacity of bitcoin (something closer to what Visa and Mastercard do, which is about 3,000 transactions per second combined). There are still problems though with things like the mining energy usage and government regulation. We'll see what happens. I think it is far more likely that an alt coin eclipses bitcoin in 5 years than bitcoin remaining the crypto king.

Deeyoh

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Old articles but they have been proven to have merit still today.

http://nakamotoinstitute.org/mempool/the-problem-with-altcoins/
http://nakamotoinstitute.org/mempool/the-coming-demise-of-altcoins/
http://nakamotoinstitute.org/mempool/appcoins-are-snake-oil/
http://nakamotoinstitute.org/mempool/its-not-about-the-technology-its-about-the-money/

cryptocrusher

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Quote from: abdullahkhan9512 on January 27, 2018, 12:34:34 AM

So you guyz ever think if anyother cryptocurrency replace Bitcoin in 5 years what will be the condition be of the other cryptos.

Today Bitcoin is the king of the cryptos as we can say to watch the codition of cryptos. So, Is there is any Cryptos which have tendency to replace Bitcoin.

I believe that Ethereum will replace Bitcoin as no 1 within 5 years, but 5 years is a long time in crypto and a lot can change, perhaps some coin we've never even heard of can be top dog. One thing I'm sure of, if cryptos are still going strong in 2023, bitcoin and ethereum will also still be going strong.

BrewMaster

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There is trouble abrewing

i suppose such altcoin needs to first see what aspects of bitcoin is making it big and what are the downsides of it. then it needs to have those good features and possibly improve upon then and also fix those downsides.

the features are decentralization which also gives bitcoin censorship resistance factor, high speed, excellent security, irreversibly, and some more.
the problem is keeping all of this while scaling and also keeping the fees to a very small amount, even making it free.

so far there have been altcoins that tried to do this but instead sacrificed a lot of things. for example sacrificed decentralization by increasing the block size and decreasing the block time. or they ruined the security for example.

Kaller

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Bitcoin will still be better than all other cryptocurrencies.

First77

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$1 to $10000 in 9 years and people want more. Looks like a GIANT SCAM from traders cartel.

$600 will decide the fate of bitcoin. If Bitcoin survives it will trade between $600 to $1000 after 2 years.

zlatan07

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Quote from: abdullahkhan9512 on January 27, 2018, 12:34:34 AM

So you guyz ever think if anyother cryptocurrency replace Bitcoin in 5 years what will be the condition be of the other cryptos.

Today Bitcoin is the king of the cryptos as we can say to watch the codition of cryptos. So, Is there is any Cryptos which have tendency to replace Bitcoin.

Five years is long-term to anyone who can analyse cryptocurrencies, we can just make some speculations about that. We don't know in what condition cryptocurrencies will be.
But which cryptocurrency have a tendency to follow Bitcoin? I think Ethereum have great chances to reach Bitcoin price.

usekevin

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Quote from: thecodebear on January 27, 2018, 08:06:32 AM

It is certainly possible, though with segwit, LN, and other upgrades coming while still maintaining its dominant position in the market despite the crazy high transaction fees I would say there is a good chance Bitcoin will be able to fend off any other coin - assuming these upgrades start hitting in a timely manner this year.

But now the transaction fees in coinbase, localbitcoin.com is reduced now.Soon the transaction fees will reduce further with respect to time.When the price of bitcoin reaches 19,000$ the transaction fees for bitcoin transaction in coinbase is around 0.001 Btc.I had totally disturbed.Now the transaction fees is 0.0005 Btc,as compared to past now it's fine.

bitcoinvamp

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Quote from: abdullahkhan9512 on January 27, 2018, 12:34:34 AM

So you guyz ever think if anyother cryptocurrency replace Bitcoin in 5 years what will be the condition be of the other cryptos.

Today Bitcoin is the king of the cryptos as we can say to watch the codition of cryptos. So, Is there is any Cryptos which have tendency to replace Bitcoin.

First of all you asked the same question twice in the different wordings in the thread so don't do that. And giving the answer of your question i would say that i don't think there is any other coin in the market till date that have the potential to replace bitcoin whether in 5 years or say even 10 years. I think it would require a lot of investment in order to overtake bitcoin . As you stated that the bitcoin is the King of all coins so people trust the king more than any other coin available in the market.

thecodebear

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It is certainly possible, though with segwit, LN, and other upgrades coming while still maintaining its dominant position in the market despite the crazy high transaction fees I would say there is a good chance Bitcoin will be able to fend off any other coin - assuming these upgrades start hitting in a timely manner this year.

abdullahkhan9512

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So you guyz ever think if anyother cryptocurrency replace Bitcoin in 5 years what will be the condition be of the other cryptos.

Today Bitcoin is the king of the cryptos as we can say to watch the codition of cryptos. So, Is there is any Cryptos which have tendency to replace Bitcoin.

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