Next generations on bitcoin | Bitcointalksearch.org

KingsDen

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Quote from: Chrlie95 on December 22, 2022, 02:15:41 PM

It is possible that new generations may seek to create their own cryptocurrencies in the future. Cryptocurrencies are based on decentralized networks, which means that anyone can create their own version of a cryptocurrency by modifying the code and launching it as a new project. The question should be: What will determine the features of a good coin or token in the future?

This is not what Op is saying. There is a difference between cryptocurrency and bitcoin. Cryptocurrency is not based on decentralized network, it is bitcoin that is decentralized .

Bitcoin has been forked already and there will be more forks but the majority will always follow the original bitcoin anytime.

Chrlie95

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It is possible that new generations may seek to create their own cryptocurrencies in the future. Cryptocurrencies are based on decentralized networks, which means that anyone can create their own version of a cryptocurrency by modifying the code and launching it as a new project. The question should be: What will determine the features of a good coin or token in the future?

South Park

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Quote from: hundof94 on December 16, 2022, 07:01:57 AM

What if 50-100 years from now new generations just fork bitcoin from the beginning to start again because they were not part of the early wealth accumulation? 🤔

In 50-100 years the gap is going to be so massive. Someone born 50 years from now have almost zero chance to own 1 bitcoin while there will be people holding thousands.

Does that mean new generations will have the motive to start bitcoin over again and start spreading the same way Facebook did? Starting from college students and get mass adopted later on?

And why should we be afraid of that possibility? Do you have any idea of the amount of bitcoin forks and cheap copies of bitcoin that have existed over the years? If someone in the future decided to do it then no one is going to stop them, the difficulty for them will be to convince everyone else to use their shitcoin in which they have all the control and a lot of coins, does this sound as an event that has already happened? Yes, because it has already and as you may probably guess it did not work.

borovichok

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Quote from: crwth on December 21, 2022, 01:18:18 AM

There might be something different in store for Bitcoin because, based on what's happening now is that it has become a store of value and not so much as a transactional payment method, so if the people holding BTC aren't moving it, it's going to be hard for the next generation to have some of it because there would be limited supply of it. So you must also consider that when talking about holding for future generations unless you would inherit something.

I do hope that the future generation will develop something beneficial for the future of cryptocurrency and make it more adaptable or something like that.

The next generation have already inherit the trans- technology space from us and it's out duty to keep it safe and going for them. Bitcoin have come to stay and there's absolutely nothing one can do stop it's flow, rather it will keep on growing more popular and bigger. Our next generation will understand fully how the space of bitcoin works and operates and they will be beneficiary of the project. There's more extent to which Bitcoin can reach, we always hope for the good improvement of Bitcoin and our modern technology.

MarjorieZimmermanGinger

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Quote from: hundof94 on December 16, 2022, 07:01:57 AM

What if 50-100 years from now new generations just fork bitcoin from the beginning to start again because they were not part of the early wealth accumulation? 🤔

If you want to start from scratch, it's called altcoin or shitcoin, you don't have to wait 50-100 years because people are already rich investing in Bitcoin. Take part from now and see the results later. Usually the fork happens in the current chain not in the future.

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In 50-100 years the gap is going to be so massive. Someone born 50 years from now have almost zero chance to own 1 bitcoin while there will be people holding thousands.

It can be inherited, at least to our own children, but it matters how far we have engaged in collecting bitcoins as a long-term investment. While many other people have thought about investing in bitcoin and have done it.

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Does that mean new generations will have the motive to start bitcoin over again and start spreading the same way Facebook did? Starting from college students and get mass adopted later on?

There will never be the same generation, bitcoin will still be bitcoin, while altcoins can become shitcoins and then die and disappear in the market. Facebook, Twitter and other social media grew rapidly in their time, no one can guarantee what they will be like in the next 50-100 years.

traderethereum

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Quote from: jaberwock on December 20, 2022, 03:22:01 PM

Quote from: traderethereum on December 20, 2022, 01:22:10 AM

But even though it's almost impossible, they can still try and as long as they keep trying, they can have 1 Bitcoin.
Those of us who still have opportunities at this time should be able to try harder because we can use many ways to have that 1 Bitcoin.
With so many tokens and coins on the market right now helping us to own more bitcoins and with this downturn in the market, it's another opportunity for us to buy more bitcoins.
Hopefully, we can have lots of bitcoins to pass on to our children and grandchildren later so they can use them better than us.

It's not that hard for people who live in third world nations like me. My entire salary for 2 years equals to one bitcoin give or take, and when you consider that, it becomes clear that maybe I would never have one bitcoin, and that is fine. You could also get richer by working hard or at least participating in things that will make you rich quicker.

This is why I work hard and invest as much as I can every month and then I end up with participating in bounties and many other things none of which has made me rich so far, but maybe one day I will hit it lucky and make a good profit. That is why I will keep on working hard to make that a reality.

You have done the right thing for your life and I believe the hard work you are doing now will give good results in the future.
We also still have time to be able to collect 1 bitcoin and never give up before we can achieve it.
By owning investments in crypto, we have a path to have more money, especially if we focus on earning more bitcoins.
The process will not lie to us and anyone who has worked hard will get good results so that their lives will change for the better later.

crwth

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There might be something different in store for Bitcoin because, based on what's happening now is that it has become a store of value and not so much as a transactional payment method, so if the people holding BTC aren't moving it, it's going to be hard for the next generation to have some of it because there would be limited supply of it. So you must also consider that when talking about holding for future generations unless you would inherit something.

I do hope that the future generation will develop something beneficial for the future of cryptocurrency and make it more adaptable or something like that.

nara1892

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Quote from: Dickiy on December 20, 2022, 12:29:44 PM

Quote from: Artemis3 on December 16, 2022, 08:21:25 AM

The funny thing is that very thing has been ocuring during all the life of Bitcoin, its called "altcoins"... Doesn't mean they will succeed.

Yep, that's right, those efforts have been made since several years ago, but in the end, a clone is still a clone, nothing really rivals Bitcoin, with so many methods, lots of experiments, and with various types and forms of algorithms and utilities that we can say almost like Bitcoin but in the end, they are parasites on Bitcoin.
Of course, every generation in the next 50 to 1000 years will do the same thing as their predecessors to seek their own profit under the guise of the latest utilities and I'm sure of that, but in the end, it will also be the same thing in general as Altcoins and following the Bitcoin Cycle.

The problem in this case is actually simple, we don't have to think too far about the next 50 or 100 years, we just have to think about what our focus is of course we have to look at in terms of our present age and our target for a few years.
No need to think about another 50 or 100 years because it's not certain that we can still be there, all you have to do is focus on being in bitcoin and buying while you can afford it.
and of course we also don't have to argue about bitcoin and altcoins because until whenever these can't be compared.

Quote from: jaberwock on December 20, 2022, 03:22:01 PM

It's not that hard for people who live in third world nations like me. My entire salary for 2 years equals to one bitcoin give or take, and when you consider that, it becomes clear that maybe I would never have one bitcoin, and that is fine. You could also get richer by working hard or at least participating in things that will make you rich quicker.

This is why I work hard and invest as much as I can every month and then I end up with participating in bounties and many other things none of which has made me rich so far, but maybe one day I will hit it lucky and make a good profit. That is why I will keep on working hard to make that a reality.

Regardless of how hard our life is or how much our salary is as long as we have the desire, I think this can still be done and of course what you are doing is the right thing for now.
With DCA every month when the market is still like this it will obviously be very profitable and this is exemplary.

Mate2237

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This generation of bitcoin will not die finished before 50-100 to come generation and that new generation can not invent bitcoin again, bitcoin can only be mentioned in that generation to continue the process. By then 1 BTC will be 1 billions plus or if the world order has changed and the cost of living has drastically reduce to the nearest minimum way then 1btc might also come down.

50-100 years to come will definitely changed the narrative nof bitcoin either it will be very high or very low.

jaberwock

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Quote from: traderethereum on December 20, 2022, 01:22:10 AM

But even though it's almost impossible, they can still try and as long as they keep trying, they can have 1 Bitcoin.
Those of us who still have opportunities at this time should be able to try harder because we can use many ways to have that 1 Bitcoin.
With so many tokens and coins on the market right now helping us to own more bitcoins and with this downturn in the market, it's another opportunity for us to buy more bitcoins.
Hopefully, we can have lots of bitcoins to pass on to our children and grandchildren later so they can use them better than us.

It's not that hard for people who live in third world nations like me. My entire salary for 2 years equals to one bitcoin give or take, and when you consider that, it becomes clear that maybe I would never have one bitcoin, and that is fine. You could also get richer by working hard or at least participating in things that will make you rich quicker.

This is why I work hard and invest as much as I can every month and then I end up with participating in bounties and many other things none of which has made me rich so far, but maybe one day I will hit it lucky and make a good profit. That is why I will keep on working hard to make that a reality.

Ryu_Ar1

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Quote from: Dickiy on December 20, 2022, 12:29:44 PM

Quote from: Artemis3 on December 16, 2022, 08:21:25 AM

The funny thing is that very thing has been ocuring during all the life of Bitcoin, its called "altcoins"... Doesn't mean they will succeed.

Yep, that's right, those efforts have been made since several years ago, but in the end, a clone is still a clone, nothing really rivals Bitcoin, with so many methods, lots of experiments, and with various types and forms of algorithms and utilities that we can say almost like Bitcoin but in the end, they are parasites on Bitcoin.
Of course, every generation in the next 50 to 1000 years will do the same thing as their predecessors to seek their own profit under the guise of the latest utilities and I'm sure of that, but in the end, it will also be the same thing in general as Altcoins and following the Bitcoin Cycle.

Agree with what you said because in this case actually looking at the altcoin from its abbreviation alone it is known that it is an alternative coin which indeed if you look further this is only an alternative and of course this will not be able to resemble bitcoin in any case.
Bitcoin is still bitcoin forever it will not change with that and they are at their best it is certain that regardless of how many altcoins are circulating now it will not be able to match bitcoin in any way.

seoincorporation

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We don't have to wait 50 or 100 years to see that happening, there are a lot of users right now with a fork of bitcoin and their own genesis block, but the problem is how to make all the world adopt your coin, if the new coins don't offer anything new then is hard for it to get adopted by the community.

And here is the main issue? why fork bitcoin if there are other coins with faster blocks and other features like smart contracts, they have more chance to get adopted by the community.

Dickiy

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Quote from: Artemis3 on December 16, 2022, 08:21:25 AM

The funny thing is that very thing has been ocuring during all the life of Bitcoin, its called "altcoins"... Doesn't mean they will succeed.

Yep, that's right, those efforts have been made since several years ago, but in the end, a clone is still a clone, nothing really rivals Bitcoin, with so many methods, lots of experiments, and with various types and forms of algorithms and utilities that we can say almost like Bitcoin but in the end, they are parasites on Bitcoin.
Of course, every generation in the next 50 to 1000 years will do the same thing as their predecessors to seek their own profit under the guise of the latest utilities and I'm sure of that, but in the end, it will also be the same thing in general as Altcoins and following the Bitcoin Cycle.

Rahul09

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Quote from: traderethereum on December 20, 2022, 01:22:10 AM

Quote from: xzy887 on December 19, 2022, 11:59:27 PM

Quote from: Fundamentals Of on December 19, 2022, 10:03:55 PM

I agree, time will come 1 Bitcoin becomes almost impossible to have.

Yes, I agree with you that it is almost impossible to have 1 bitcoin in the future. But you have to accept that it is very unlikely that another bitcoin will be as popular, reliable and valuable as this one. And we never need to wait another 50 years for a new Bitcoin. It can be made a reality now. But will it be of any use? Because now everyone trusts this bitcoin. And now many new tokens/coins come to the market and end again.And so in this situation, who will guarantee that it can survive in the new bitcoin market? And I think after 50 years our generation will be better. Then they won't trust the new Bitcoin so easily.

But even though it's almost impossible, they can still try and as long as they keep trying, they can have 1 Bitcoin.
Those of us who still have opportunities at this time should be able to try harder because we can use many ways to have that 1 Bitcoin.
With so many tokens and coins on the market right now helping us to own more bitcoins and with this downturn in the market, it's another opportunity for us to buy more bitcoins.
Hopefully, we can have lots of bitcoins to pass on to our children and grandchildren later so they can use them better than us.

You are right. We will never make mistakes like our descendants or us. If our forefathers or we knew about Bitcoin during 2012-2015 then we could have easily earned many Bitcoins for free. Because I heard that when Bitcoin first came to the market, everyone could easily earn through Bitcoin mining.And then if we could have earned Bitcoin and held it till now we would be among the richest people in the world. So after this, if I get such an opportunity again, I will never make a mistake. So that our sons and grandsons don't become fools like us.

fennic

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Quote from: hundof94 on December 16, 2022, 07:01:57 AM

What if 50-100 years from now new generations just fork bitcoin from the beginning to start again because they were not part of the early wealth accumulation? 🤔

In 50-100 years the gap is going to be so massive. Someone born 50 years from now have almost zero chance to own 1 bitcoin while there will be people holding thousands.

Does that mean new generations will have the motive to start bitcoin over again and start spreading the same way Facebook did? Starting from college students and get mass adopted later on?

According to me Bitcoin native chain forks are based on Bitcoin chain. And they cannot be changed. Cause this is called Decentralization and also Blockchain.
And I do not know how you got such idea but I will say that having another Blockchain will make it just Altcoins not a folr coin like BCH, BCV etc.

mendace

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Quote from: hundof94 on December 16, 2022, 07:01:57 AM

What if 50-100 years from now new generations just fork bitcoin from the beginning to start again because they were not part of the early wealth accumulation? 🤔

In 50-100 years the gap is going to be so massive. Someone born 50 years from now have almost zero chance to own 1 bitcoin while there will be people holding thousands.

Does that mean new generations will have the motive to start bitcoin over again and start spreading the same way Facebook did? Starting from college students and get mass adopted later on?

It has already happened to fork Bitcoin and it has already happened that many projects (Ethereum among all) have tried to undermine it, but what were the results soon? Obviously they have failed and will continue to fail. Keep in mind that Bitcoin is a dog without a master and is free to do as it pleases while everyone else has their master.

traderethereum

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Quote from: xzy887 on December 19, 2022, 11:59:27 PM

Quote from: Fundamentals Of on December 19, 2022, 10:03:55 PM

I agree, time will come 1 Bitcoin becomes almost impossible to have.

Yes, I agree with you that it is almost impossible to have 1 bitcoin in the future. But you have to accept that it is very unlikely that another bitcoin will be as popular, reliable and valuable as this one. And we never need to wait another 50 years for a new Bitcoin. It can be made a reality now. But will it be of any use? Because now everyone trusts this bitcoin. And now many new tokens/coins come to the market and end again.And so in this situation, who will guarantee that it can survive in the new bitcoin market? And I think after 50 years our generation will be better. Then they won't trust the new Bitcoin so easily.

But even though it's almost impossible, they can still try and as long as they keep trying, they can have 1 Bitcoin.
Those of us who still have opportunities at this time should be able to try harder because we can use many ways to have that 1 Bitcoin.
With so many tokens and coins on the market right now helping us to own more bitcoins and with this downturn in the market, it's another opportunity for us to buy more bitcoins.
Hopefully, we can have lots of bitcoins to pass on to our children and grandchildren later so they can use them better than us.

xzy887

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Quote from: Fundamentals Of on December 19, 2022, 10:03:55 PM

I agree, time will come 1 Bitcoin becomes almost impossible to have.

Yes, I agree with you that it is almost impossible to have 1 bitcoin in the future. But you have to accept that it is very unlikely that another bitcoin will be as popular, reliable and valuable as this one. And we never need to wait another 50 years for a new Bitcoin. It can be made a reality now. But will it be of any use? Because now everyone trusts this bitcoin. And now many new tokens/coins come to the market and end again.And so in this situation, who will guarantee that it can survive in the new bitcoin market? And I think after 50 years our generation will be better. Then they won't trust the new Bitcoin so easily.

Fundamentals Of

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That happened already. It is not yet 50 years since Bitcoin's creation and there were already many forks from Bitcoin. But look at what happened to them, not just to some but to all of them. They all ended up with the same fate. They all lost support. It's because when you fork Bitcoin nothing happens to Bitcoin. It remains there intact while the new fork is already a fake copy of the original. It will be hard to gain supporters. So rather than looking forward to a new fork so that people could be called early adopters, it is better to just make the most of the present and buy Bitcoin. I agree, time will come 1 Bitcoin becomes almost impossible to have.

nullama

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Quote from: hundof94 on December 16, 2022, 07:01:57 AM

What if 50-100 years from now new generations just fork bitcoin from the beginning to start again because they were not part of the early wealth accumulation? 🤔

In 50-100 years the gap is going to be so massive. Someone born 50 years from now have almost zero chance to own 1 bitcoin while there will be people holding thousands.

Does that mean new generations will have the motive to start bitcoin over again and start spreading the same way Facebook did? Starting from college students and get mass adopted later on?

They still will have 50 years into the future to grow their savings in Bitcoin.

Also I don't know why people are fixated in the number 1 BTC since Bitcoin is designed to increase in value over time. In early 2009 you would get 50 BTC at a time while CPU mining, so 1 BTC was nothing (because even the 50 BTC were nothing). It would have been common to see people with thousands of Bitcoins if they were simply running bitcoin in their spare computer for weeks.

People forget that what actually brings value to Bitcon is time.

It doesn't matter if you spend money in fiat or Bitcoin as they have the same value today, but it matters a lot if you save money for decades in fiat or Bitcoin.

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