Topic: We have to be aware that bitcoin will not last forever - page 11. (Read 1772 times)
New technology are more happenny accepted into the world and bitcoin as the mainstream manifestation of the blockchain technology was accepted and to my understanding this bitcoin survival solely depend on the developers either to sustain the technology or to forfeit the technology.
Like all digital technology, it is unquestionable that sooner or later bitcoin will have to be replaced by a superior technology, just as in the past we saw many devices become obsolete when at the time seemed insurmountable, such as CDs or PCs.
CDs are a weak analogy. Code is more flexible in what it can do and how easy it is to change. As such, Bitcoin is in a much better position to adapt than any sort of physically manufactured product.
In the end, bitcoin is likely to subsist for many years, but by then it will have evolved in such a way that it will be virtually unrecognizable for today’s standards
How does this make any sense? It's going to evolve but still be obsolete? Which is it?
Though nothing on earth last forever. Still yet we can't still say that bitcoin won't last forever because we haven't still yet still see what bitcoin really have for this digital world century. But I must still say that, bitcoin might not last 3 decades more.
bitcoin can last forever, as long as we are made aware when devs have given up on bitcoin. to boot them out and get new talent in, willing to keep bitcoin innovative onchain
physical media does have a shelf-life before it wares out
physical media has a limitation to what can be unscrewed, unslotted and upgraded before its obsolete.
so yea PC's and CD's do get replaced by new tech.
but digital can be tweaked, recoded and updated daily and still function.
as long as the digital item still has a function and purpose people need. people will use it. and others will maintain it
at the moment we are seeing a bit of a battle going on where bitcoin devs are actually saying blockchains and bitcoin is broke and wont work by saying it cant scale and it cant buy coffee. in an attempt to give up upgrading bitcoin. but instead tweaking bitcoin to be compatible with a different network that is not blockchained. and then push people into using that other network
importantly LN is not a bitcoin feature. LN is a separate network that will be used by multiple coins and will inherently be final designed to get people to lock funds into addresses that 'banks' own, called factories. and then on the other network away from the blockchain. have the factories drip feed down 'value' to 'bank branch' hubs. which then feed users 'account' channels with value. whereby closing an account is not exiting LN to a blockchain but refeediing the funds back up to the 'bank branch' hub and then to the 'bank' factory so that the bank can then re drip feed another account.. keeping people away from the bitcoin blockchain as much as possible.(research: LN factory)
like how banks done it with gold 100 years ago(research: bank fortknox)
but the good thing is. we can actually pushback and get them deceptive devs who want to call bitcoins utility broke. to get out of their role. if they cant fix it on the mainnet then they are outdated and need to be replaced. and then get those that really support bitcoin to concentrate on bitcoin mainnet innovation and growth. not them silly other networks
physical media does have a shelf-life before it wares out
physical media has a limitation to what can be unscrewed, unslotted and upgraded before its obsolete.
so yea PC's and CD's do get replaced by new tech.
but digital can be tweaked, recoded and updated daily and still function.
as long as the digital item still has a function and purpose people need. people will use it. and others will maintain it
at the moment we are seeing a bit of a battle going on where bitcoin devs are actually saying blockchains and bitcoin is broke and wont work by saying it cant scale and it cant buy coffee. in an attempt to give up upgrading bitcoin. but instead tweaking bitcoin to be compatible with a different network that is not blockchained. and then push people into using that other network
importantly LN is not a bitcoin feature. LN is a separate network that will be used by multiple coins and will inherently be final designed to get people to lock funds into addresses that 'banks' own, called factories. and then on the other network away from the blockchain. have the factories drip feed down 'value' to 'bank branch' hubs. which then feed users 'account' channels with value. whereby closing an account is not exiting LN to a blockchain but refeediing the funds back up to the 'bank branch' hub and then to the 'bank' factory so that the bank can then re drip feed another account.. keeping people away from the bitcoin blockchain as much as possible.(research: LN factory)
like how banks done it with gold 100 years ago(research: bank fortknox)
but the good thing is. we can actually pushback and get them deceptive devs who want to call bitcoins utility broke. to get out of their role. if they cant fix it on the mainnet then they are outdated and need to be replaced. and then get those that really support bitcoin to concentrate on bitcoin mainnet innovation and growth. not them silly other networks
Like all digital technology, it is unquestionable that sooner or later bitcoin will have to be replaced by a superior technology, just as in the past we saw many devices become obsolete when at the time seemed insurmountable, such as CDs or PCs.
Obviously this will happen in a gradual way, but I do not believe that bitcoin can retain its current dominance for more than ten years before starting to fall into disuse, although perhaps its influence could persist in the market about ten years.
In the end, bitcoin is likely to subsist for many years, but by then it will have evolved in such a way that it will be virtually unrecognizable for today’s standards, and in fact it is difficult that in 15 years there is something similar to the current cryptocurrencies before the spectacular advances in digital technology that are approaching.
Obviously this will happen in a gradual way, but I do not believe that bitcoin can retain its current dominance for more than ten years before starting to fall into disuse, although perhaps its influence could persist in the market about ten years.
In the end, bitcoin is likely to subsist for many years, but by then it will have evolved in such a way that it will be virtually unrecognizable for today’s standards, and in fact it is difficult that in 15 years there is something similar to the current cryptocurrencies before the spectacular advances in digital technology that are approaching.
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