Topic: The future of Bitcoin - page 70. (Read 119605 times)

I am just curious. Many of us believe that Bitcoin is the future currency but we also know that there is a limit on what we can mine. My question is, let's say we are already in the future, the Bitcoin is currently the universal curreny then we had mined all of the remaining Bitcoin, what will happen next?

As a matter of fact, you can also anticipate the point when the amount of block reward is really really few and there's tons of users using bitcoin. That would be a disaster when the lightning network still hasn't been figured out. The miners would still be there, supporting the network. "But why would they do that when they receive very little to no rewards at all?" Because they have bitcoins, so they are going to continue supporting it. By that time, they probably have already made fortune and continuing their mining rigs to run will not be that expensive for them.

Plus, if they stop supporting bitcoins, it's them who will suffer the most since they have the most investments.

If bitcoin has become the international currency in future. Possible bitcoin prices have stabilized and are only ready to be used. What persists is traders in market, because miners will be significantly reduced.

in fact bitcoin is already an international currency and the problem is that bitcoin is still not too much introduce in backward area of of the world, i am hopeful that very soon the other governments will also accept bitcoin as legal currency.

The_Dark_Knight

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Quote from: Fatanut on May 12, 2017, 09:05:31 AM

I am just curious. Many of us believe that Bitcoin is the future currency but we also know that there is a limit on what we can mine. My question is, let's say we are already in the future, the Bitcoin is currently the universal curreny then we had mined all of the remaining Bitcoin, what will happen next?

At that point miners will need to cover their cost with only the fees they charge for every transaction, at that point bitcoin will have become very valuable so I think by that time some whales would have gotten out of bitcoin and this will allow for more bitcoin to be distributed among the general public.

fujyo86

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I am just curious. Many of us believe that Bitcoin is the future currency but we also know that there is a limit on what we can mine. My question is, let's say we are already in the future, the Bitcoin is currently the universal curreny then we had mined all of the remaining Bitcoin, what will happen next?

As a matter of fact, you can also anticipate the point when the amount of block reward is really really few and there's tons of users using bitcoin. That would be a disaster when the lightning network still hasn't been figured out. The miners would still be there, supporting the network. "But why would they do that when they receive very little to no rewards at all?" Because they have bitcoins, so they are going to continue supporting it. By that time, they probably have already made fortune and continuing their mining rigs to run will not be that expensive for them.

Plus, if they stop supporting bitcoins, it's them who will suffer the most since they have the most investments.

If bitcoin has become the international currency in future. Possible bitcoin prices have stabilized and are only ready to be used. What persists is traders in market, because miners will be significantly reduced.

Fatanut

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Quote from: The_Dark_Knight on May 10, 2017, 06:18:34 PM

I am just curious. Many of us believe that Bitcoin is the future currency but we also know that there is a limit on what we can mine. My question is, let's say we are already in the future, the Bitcoin is currently the universal curreny then we had mined all of the remaining Bitcoin, what will happen next?

As a matter of fact, you can also anticipate the point when the amount of block reward is really really few and there's tons of users using bitcoin. That would be a disaster when the lightning network still hasn't been figured out. The miners would still be there, supporting the network. "But why would they do that when they receive very little to no rewards at all?" Because they have bitcoins, so they are going to continue supporting it. By that time, they probably have already made fortune and continuing their mining rigs to run will not be that expensive for them.

Plus, if they stop supporting bitcoins, it's them who will suffer the most since they have the most investments.

erickkyut

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I am just curious. Many of us believe that Bitcoin is the future currency but we also know that there is a limit on what we can mine. My question is, let's say we are already in the future, the Bitcoin is currently the universal curreny then we had mined all of the remaining Bitcoin, what will happen next?

NLGer

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Quote from: uchiha on May 07, 2017, 08:28:45 PM

The very essence of Bitcoin is what will make it last. Bitcoin may not last forever in its actual form, but the fact that it isn't dependent on any government or institution will eventually convince a greater audience and further spread it's use. Physical money is an ancient concept, it's time we start living in the 21st century.

Physical money is an old concept but old does not mean outdated, if people respected physical money and used things of value like we used in the past, like gold and silver, we will not be in the terrible economic situation that the world is going to face in the next decades.

You're right, but we are using now worthless paper money with nothing to back it up accept some oil that we have to take with force and continuously suppressing peoples freedom.

The_Dark_Knight

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Quote from: uchiha on May 07, 2017, 08:28:45 PM

The very essence of Bitcoin is what will make it last. Bitcoin may not last forever in its actual form, but the fact that it isn't dependent on any government or institution will eventually convince a greater audience and further spread it's use. Physical money is an ancient concept, it's time we start living in the 21st century.

Physical money is an old concept but old does not mean outdated, if people respected physical money and used things of value like we used in the past, like gold and silver, we will not be in the terrible economic situation that the world is going to face in the next decades.

MFahad

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Eloncoin.org - Mars, here we come!

Quote from: _Legendary_ on May 02, 2017, 08:43:25 PM

first I doubt that bitcoin can achieve results like this, I know the bitcoin a year ago when the price of $240 I had bought 2 BTC and I sell $275 price (2 months later) and then I leave a bitcoin and see price 3 months ago has reached more than $1000.

So you can't make too much profit from bitcoin. It is bad luck for you.
I also spend one and half year with bitcoin and in the first day when i did work with bitcoin than i realize it will give me big profit in future.
It is easy work if i have skills to do it than i used bitcoin in trading and gambling and now still i am earning from bitcoin.

uchiha

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The very essence of Bitcoin is what will make it last. Bitcoin may not last forever in its actual form, but the fact that it isn't dependent on any government or institution will eventually convince a greater audience and further spread it's use. Physical money is an ancient concept, it's time we start living in the 21st century.

BitcoinGirl.Club

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Farewell LEO: o_e_l_e_o

Quote from: Rahar02 on May 07, 2017, 06:43:01 PM

I think that bitcoin has the potential to become not only a store of value but could potentially change the entire way finance is seen and used. My only concern is the rise of fees and the time for confirmations. my hope is for bitcoin to survive.

Bitcoin cannot rise much further with this problem, higher price means higher fees and longer time to wait.
But, we believe in bitcoin and it will keep growing over time as cryptocurrency world get more attention right now, Million of dollars flow into this society daily, we know people looking for invest on digital currency.

we need segwit like yesterday if we want our precious bitcoin to survive against altcoins with better and more attractive features
IMO Bitcoin is already losing popularity to alts as a result of unaddressed problems of slow btc transfers and high tx fees, i think we just might have another bitcoin alt in the future should we act late!

Rahar02

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Quote from: Zenithar on May 07, 2017, 05:32:50 PM

I think that bitcoin has the potential to become not only a store of value but could potentially change the entire way finance is seen and used. My only concern is the rise of fees and the time for confirmations. my hope is for bitcoin to survive.

Bitcoin cannot rise much further with this problem, higher price means higher fees and longer time to wait.
But, we believe in bitcoin and it will keep growing over time as cryptocurrency world get more attention right now, Million of dollars flow into this society daily, we know people looking for invest on digital currency.

justspare

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Quote from: Cosbycoin on May 07, 2017, 04:41:07 PM

I think that bitcoin has the potential to become not only a store of value but could potentially change the entire way finance is seen and used. My only concern is the rise of fees and the time for confirmations. my hope is for bitcoin to survive.

in fact bitcoin is changing the life style of so many people. we can see that bitcoin is giving opportunities to those people who are skillful for example if a person is good designer then he can earn a good amount of money from bitcointalk.org. if a person have little knowledge about altcoin trading then he can also get a good profit.

you are right that bitcoin is really changing the life style a lot of people there is many jobless people are earning good income from bitcoin and i think bitcoin make our life too much easy and we secure our money in bitcoin and trading is very profitable way for us.

guoyu78

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Quote from: Ewinsane on May 07, 2017, 02:17:01 PM

I'm optimistic future bitcoin will be brilliant, this is because the users continue to increase so as to make the price continues to rise. I'm sure the prices this year would reach over $2500/btc.

yes i am also agree with you that the users of bitcoin are increasing from time to time which is making bitcoin more popular. therefore we can expect that the future of bitcoin will be too much bright as in modern world bitcoin will be the main currency of the people to fulfill all their needs.

yeah bitcoin users increasing too much faster everyday and bitcoin getting much more popularity nowadays and we know that bitcoin price going to high value everyday and i am sure bitcoin future will be more bright and it will be better for us when we buy more bitcoins for the future .

you are right that bitcoin adoption increasing very faster and its good for us and bitcoin, and sometime i think that bitcoin will be sooner replace the USD and people will be use bitcoin as USD because bitcoin users belong to different countries.

i think bitcoin is going ahead with good position and if maximum people adopt the bitcoin then i hope that bitcoin will be sooner replace the usd and i am sure it will happen sooner because bitcoin is getting much more stronger and popular day by day.

Zenithar

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Quote from: Ewinsane on May 07, 2017, 02:17:01 PM

I think that bitcoin has the potential to become not only a store of value but could potentially change the entire way finance is seen and used. My only concern is the rise of fees and the time for confirmations. my hope is for bitcoin to survive.

in fact bitcoin is changing the life style of so many people. we can see that bitcoin is giving opportunities to those people who are skillful for example if a person is good designer then he can earn a good amount of money from bitcointalk.org. if a person have little knowledge about altcoin trading then he can also get a good profit.

Cosbycoin

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I'm optimistic future bitcoin will be brilliant, this is because the users continue to increase so as to make the price continues to rise. I'm sure the prices this year would reach over $2500/btc.

yes i am also agree with you that the users of bitcoin are increasing from time to time which is making bitcoin more popular. therefore we can expect that the future of bitcoin will be too much bright as in modern world bitcoin will be the main currency of the people to fulfill all their needs.

yeah bitcoin users increasing too much faster everyday and bitcoin getting much more popularity nowadays and we know that bitcoin price going to high value everyday and i am sure bitcoin future will be more bright and it will be better for us when we buy more bitcoins for the future .

you are right that bitcoin adoption increasing very faster and its good for us and bitcoin, and sometime i think that bitcoin will be sooner replace the USD and people will be use bitcoin as USD because bitcoin users belong to different countries.

wahb

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I'm optimistic future bitcoin will be brilliant, this is because the users continue to increase so as to make the price continues to rise. I'm sure the prices this year would reach over $2500/btc.

yes i am also agree with you that the users of bitcoin are increasing from time to time which is making bitcoin more popular. therefore we can expect that the future of bitcoin will be too much bright as in modern world bitcoin will be the main currency of the people to fulfill all their needs.

to me i think we should not be ware of bitcoin future, because the future of bitcoin is very bright and secure, because people are entering in the world of bitcoin continuously which is making bitcoin more and more stronger.

Ewinsane

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Quote from: batang_bitcoin on May 05, 2017, 06:16:17 PM

I'm optimistic future bitcoin will be brilliant, this is because the users continue to increase so as to make the price continues to rise. I'm sure the prices this year would reach over $2500/btc.

yes i am also agree with you that the users of bitcoin are increasing from time to time which is making bitcoin more popular. therefore we can expect that the future of bitcoin will be too much bright as in modern world bitcoin will be the main currency of the people to fulfill all their needs.

yeah bitcoin users increasing too much faster everyday and bitcoin getting much more popularity nowadays and we know that bitcoin price going to high value everyday and i am sure bitcoin future will be more bright and it will be better for us when we buy more bitcoins for the future .

vatived22

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I think that bitcoin has the potential to become not only a store of value but could potentially change the entire way finance is seen and used. My only concern is the rise of fees and the time for confirmations. my hope is for bitcoin to survive.

The_Dark_Knight

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