Topic: Is Bitcoin designed to last forever? (Read 9882 times)

But that applies to any other currency, when a currency has a value of zero that currency is useless, but I really think that since bitcoin performs a function that no traditional currency has bitcoin has the possibility to outlive them even if eventually a new coin appears.

Yeah, its exactly like that. Bitcoin by design is not beign safe/ could last forever or nothing like that.
People make it so. As long people will use Bitcoin, people will develop it more, secure it more, make it faster, better etc.

I do believe bitcoin has found its place, and its king of crypto currencie, i dont see bitcoin allowing any other altcoin to replace it, how long bitcoin will last is easy, as long the community keeps interested into it and use it, otherwise bitcoin can fail badly.

a technology like computer will not get obsolete in the future
it will keep developing transform to something great more than just a computer and an internet
bitcoin come to make everything perfect , and i don't think bitcoin will not fit to the future
and of course i believe bitcoin designed last forever , hard to make it dissapear.

If you can convince the miners of the few that hold the blockchain nodes in 20 years if it gets too big to move to clean chain this can easily be done in a exchange 1 btc for 1 new btc.  Then after 2 year period all btc on the old chain will be invalid and the chain is shutdown.  Thus you have a new clean chain.

You could also tell everyone to spend their coins in 1 year.   Then the entire chain older than 1 year could be truncated (there would have to be some software work).  Thus, you would not only have a young chain you would know exactly how many coins are left in circulation.  I would say 1 million are already lost.

As for all the new and alt coins, they generally all suck.  There is only one alt-coin that might be better than bitcoin and that is say you buy into the coin and generate $1 billion cash. If that cash could be used for investments and the profits used to delete coin, then you have a coin with a decreasing money supply.  A decreasing money supply will make users richer and increase adoption.

Thus if the money supply drops from 21 million, 5% a year you have 2 million or so after 50 years, thus your money is worth 10x and that is with no new users.  With new users that might be 100x or 500x.  That is adjusted for inflation so you invest $5000 when you are 20, you would have $2,500,000 when you 70. 

2020   21000000
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as long as we use networks and computers there is no reason why we could not use it for a long time. i would guess that the computers will get obsolete before we stop using bitcoin, so we will have to adapt it.

I also think that it can survive for a long time but I also think its hard to say if it will due to the fact the bitcoin is unpredictable so no one knows.

Yes, it can survive for a long time. As long as many people still supporting bitcoin, it can last forever for sure. But i think many changes will happen every years passing by. Because in the future, technology will be more progressive. Bitcoin needed to adopt in the innovation in able to survive.

Bitcoin is a result of technological innovation. While the payments industry will also change rapidly with technological innovations which provide benefits in the medium of exchange that is better than the cryptocurrency. This innovation will could have come from the government or from the private sector. On the other hand there are other factors that also affect the monetary standard Bitcoin. Namely the pressure to return to the currency Fiat. So that monetary policy will be more active and can catch up.

That is not true,we  do not need a change in order to make bitcoin last forever.
The current network system works good,the only problem is the block limit,which pretty much hurts the community and the miners,but the whole system is being trusted by a lot of people so at the moment we do not need any change to make it better expect of the block limit.

I do believe the bitcoin can last forever if the community will keep growing to increase the bitcoin price and to make it worthable for miners to keep mining bitcoin.

Good point. Nothing last forever except Change. So, when they change or upgrade Bitcoin, maybe it can last for a long time. Although time will come and halving and halving occur and the miners will get smaller rewards in every block. Which will cause them to leave mining and Bitcoin will be dead gradually. But, the developers can create another version of Bitcoin which can save the death of it. Just like ETH. What do you think ??

definitely right,if bitcoin could just evolving by the time and always growing to be better coin it will for sure last for next hundreds year but a new developed technology always coming out and threatening bitcoin's place as the main cryptocurrency right now and if one coin just gaining the trust from bitcoin users and could even make bitcoin users moving out from where they stay,bitcoin will potentially lost its daily traded volume

You think bitcoin can continue to grow and change according to the times? if it can be done. then bitcoin will continue to be updated and there will be no other altcoin. which could replace bitcoin, and bitcoin will continue to survive

If the support stays, I'd say Yes.

Bitcoin will last for years, because it solves problems that other forms of payment have.I don’t think that bitcoin will disappear.
As long as there is still internet there will still be bitcoin.

It may not be designed to live forever but if we keep on using it then it can live for a longer days. A chance of making it to last forever is really high because we are in modern world and we are using modern technology. Transactions will be online and digital and bitcoin will be the medium of it, only if the world government will recognize its goodness.

I also think that bitcoin is not designed to live forever, bitcoin risk to die when the price becomes zero, so it can be proved that bitcoin is not designed to last forever

Exactly, we the supporters who are giving life with bitcoin and as we see the price of bitcoin is growing it also reflects to its users. There is no doubt that the users of bitcoin are also increasing because the price is not a manipulation as we have witness now.

As we repeat, as long as there is community or a group of people supporting and trusting it, bitcoin will never be gone. Its existence is depending on us who are using it everyday. If we find it not useful anymore, I think it will ceased to exists.

We don't know but we can know if it is going to be on a long road map. And that is going to be determined by us if it is still on its way for the future.

But if we will base on what is happening with bitcoin today, I can say that its designed to be used everyday and depending on the governments adoption.

And basing on the bitcoins price increase, we can tell that it can be on the market in the long run.