The scenario where Bitcoin "succeeds" by rapidly overtaking fiat in a very short span and making it lose a huge portion of its value is a fantasy. Governments would simply not allow this to happen, if they close exchanges, you can forget about massive bull runs, because there will be not enough liquidity.
We don't even know how would Bitcoin react to some apocalyptic scenario where all fiat currencies have a hyperinflation scenario. Simple logic tells that Bitcoin will benefit from it, but what if it's all not so simple? We already saw once how Bitcoin flash crashed together with traditional markets in the first days of covid, which was totally against the Bitcoin as a hedge narrative.
Topic: "What happens if bitcoin succeeds?" (Read 506 times)
The first thing I hope happens if bitcoin succeeds is that blockchain project study becomes standard in numerous industries, including universities.
Bitcoin has already achieved success in a variety of areas, especially in industry, where the majority of institutions are investing in bitcoin, and I am confident that Bitcoin will achieve much greater success in the future, as this is just the beginning of how we will embrace the usage of crypto.
Of course, if bitcoin succeeds then there are many people who will use it and there will be a lot of applications in the economy and I know that soon, they will accept it.
Bitcoin has already achieved success in a variety of areas, especially in industry, where the majority of institutions are investing in bitcoin, and I am confident that Bitcoin will achieve much greater success in the future, as this is just the beginning of how we will embrace the usage of crypto.
Of course, if bitcoin succeeds then there are many people who will use it and there will be a lot of applications in the economy and I know that soon, they will accept it.
Bitcoin is for everyone, bitcoin is not made only for the elite persons, everyone can buy and invest in bitcoin no matter what value they are going to buy, The things about that more elite person is that they can just buy a huge amount of bitcoin which is a good thing for them unlike to that normal citizen who can buy an only small amount of bitcoin and they are so afraid of it because of thinking that it can get lost. Well, many people also started with a small amount of money but becomes successful because of investing it in bitcoin. No matter how much capital you have, still you can invest in cryptocurrency.
Based on my observation bitcoin is already succeeded in his journey; the reason why I say this thing is because the price of bitcoin from the time bitcoin was created until now is still going better and yes bitcoin is the leading coins in the crypto currency and the same time bitcoin is the number one crypto currency intern of having a highest price or market value that why ai concluded that bitcoin is already succeeded on its journey.
Because of bitcoin success many people who use bitcoin became successful too in their life journey; they earn enough money on that situation.
Because of bitcoin success many people who use bitcoin became successful too in their life journey; they earn enough money on that situation.
I don't think that bitcoin (it's use case) is a bubble.. Using it as a speculative asset can make the price a bubble. But if you'd ask me, in general, price or use case, bitcoin doesn't have much threats posing against it. At least not with the hands we're getting on board.
The dollar is also a bubble. As long as this bubble is stable, therefore, while the world economy is not in dangerBitcoin price is more of a bubble than dollar or any fiat money. We've been using fiat since birth. Many generations have used it too. And the reason it's used is because it's more trusted. You can't compare that trust with that for crypto (where people can easily panic over little things).
Bitcoin will not further broaden the gap between the rich and the poor for the reason that Bitcoin is open and available for all as long as you have the capacity to have an access on it. The capability to be rich coming from poor have an open possibility depending upon their effort being exerted and same thing applied to the rich ones. Bitcoin is not a one sided body to get along only for the rich. Yes rich people can do afford it but it does not guarantee that it will broaden the gap or boundaries between the two. It is still depending on how they manage to get along with Bitcoin making them improve their life to the full extent possible.
Though the price of Bitcoin now is really for the rich people only(considering the 50-60k USD per Bitcoin) but year I support the Idea that anyone can purchase bitcoin rich or poor even with small amount , because each Satoshi now is really has a value and what more in the future? that Each Sats may cost 1 dollar each. I don't think that bitcoin (it's use case) is a bubble.. Using it as a speculative asset can make the price a bubble. But if you'd ask me, in general, price or use case, bitcoin doesn't have much threats posing against it. At least not with the hands we're getting on board.
The dollar is also a bubble. As long as this bubble is stable, therefore, while the world economy is not in danger 
Bitcoin is not reserved for the elites, bankers, and the royals. You, me, and everyone else have a choice to invest in it or not. This forum proves that you can earn Bitcoin even without investing by providing a valuable service, advertising, etc.
This is the main reason why I'm staying and giving quality posts here in this forum.
You just really need some skills, provide services, and help build a healthy, informed, and educated community about cryptocurrencies.
Bitcoin provides financial freedom where we can control and manage our own coins without the supremacy of the governments.
I don't think that bitcoin (it's use case) is a bubble.. Using it as a speculative asset can make the price a bubble. But if you'd ask me, in general, price or use case, bitcoin doesn't have much threats posing against it. At least not with the hands we're getting on board.
anyone can own bitcoin, that's what you mean right? because the quote above only mentions Jeff Bezoz and Elon Musk who are like the two characters who are required to own bitcoin. There is a point and now Bitcoin is not only successful for the big people, but for anyone, bitcoin can work
Somebody tells him that bitcoin has succeeded. A piece of code launched 10 years ago has now price of 55k$, what else is required to be a successful thing. Still there is no single owner of bitcoin, they are all distributed among crypto community.
There will be always riches and poors in this world, even the communists progressists don't change this fact when they have power on their hands. I think people should stop with this obsession for equality. That is just a propaganda to earn votes during elections or influence over the society.
The most important thing is to have earning opportunities for everyone willing to improve in life, and bitcoin has total conditions to help on this matter. So each one can take care their own life, help those who they think are worth to be helped and stop measuring who has more or less money or stop trying to fix the world, because it actually doesn't have a plausible solution. This world isn't going to be like heaven, which can be only achieved after life.
The most important thing is to have earning opportunities for everyone willing to improve in life, and bitcoin has total conditions to help on this matter. So each one can take care their own life, help those who they think are worth to be helped and stop measuring who has more or less money or stop trying to fix the world, because it actually doesn't have a plausible solution. This world isn't going to be like heaven, which can be only achieved after life.
I stumbled upon the article "What happens if bitcoin succeeds?" in which John Danielsson, Director of the Center for Systemic Risk at the London School of Economics, argues that the inequality between rich and poor will be further exacerbated.
And again, these conclusions are that bitcoin is a bubble, and because it is volatile, it will not be able to equalize with money.
So what are the risks of bitcoin going forward? Is it really capable of seriously dividing society and causing even greater inequality?
When it comes to inequality then it is something that cant really just get rid off.Rich people would always have the advantage since they can accumulate bitcoin as much as they can And again, these conclusions are that bitcoin is a bubble, and because it is volatile, it will not be able to equalize with money.
So what are the risks of bitcoin going forward? Is it really capable of seriously dividing society and causing even greater inequality?
compared into those average joes or earners in the market where accumulation is just really like the same when you are just acquiring your salary on a day stable job.
The advantage here is that you do have the full control of your funds and having anonymity on the money you had earned or coins that you have gained.
Succeed? Bitcoin already achieved that on the other part but for inequality? then its impossible.
I agreed with John Danielsson because there will never total equality in this world and it will be nice if we face this fact and don't lie to ourselves cause only people who make proper use of the opportunities around them will thrive not only in Bitcoin investment but in all investment setting.
Bitcoin will never equalize fiat currency because Bitcoin posed the innovation, potential, liberation, and opportunity every other currency cannot pose.
Already at the current bitcoin price of about $ 60,000, only a rich person can afford to buy a whole bitcoin. The larger the amount of investment in it, the more profit the investor can get in the future. This is the same as in conventional markets.Bitcoin will never equalize fiat currency because Bitcoin posed the innovation, potential, liberation, and opportunity every other currency cannot pose.
So far, only those who have previously foreseen the prospects for the development of cryptocurrency have won and purchased it at low prices.
Early cryptocurrency adopters are living a life of a Millionaire now.
In the future, the rules of the stock and securities market apply.
The rules of the stock and security market will be used to trade or invest in crypto in the future, can you be more specific? Bitcoin will not further broaden the gap between the rich and the poor for the reason that Bitcoin is open and available for all as long as you have the capacity to have an access on it
Can we say the same thing when the mempool is clogged and only big wallets afford to pay for the fees, or when billionaires clearly have an advantage and can afford purchasing a significant % of the supply? The gap will be even larger the more Bitcoin grows. Billionaires are already in and they're still early!
Should bitcoin succeed, I think the world would be more unified than ever. Its a world currency on the rise and viewing it as a store of value only would be really out of place for bitcoin. Its a currency for exchange ge as it should be as much as other currencies.
Besides, bitcoin isn't only bought in bulk or it is that, you must have a list 1Btc at any point. It has got other denominations, the Btc, mBtc and more. Add your at liberty to own as your will and capital power allows, its not bidding on anyone. So, the success of bitcoin would go a long way in creating a sense of unity around the world and for the world as it's boundaries becomes the globe itself.
Besides, bitcoin isn't only bought in bulk or it is that, you must have a list 1Btc at any point. It has got other denominations, the Btc, mBtc and more. Add your at liberty to own as your will and capital power allows, its not bidding on anyone. So, the success of bitcoin would go a long way in creating a sense of unity around the world and for the world as it's boundaries becomes the globe itself.
Succeed in what?
It already proves itself it isn't fail project and it is already more than a decade and the price has already skyrocket since it started.
For me it already succeed the price is so high the project had survived for more than a decade and more people or institution has invested,accepted and using it now.
It already proves itself it isn't fail project and it is already more than a decade and the price has already skyrocket since it started.
For me it already succeed the price is so high the project had survived for more than a decade and more people or institution has invested,accepted and using it now.
I agreed with John Danielsson because there will never total equality in this world and it will be nice if we face this fact and don't lie to ourselves cause only people who make proper use of the opportunities around them will thrive not only in Bitcoin investment but in all investment setting.
Bitcoin will never equalize fiat currency because Bitcoin posed the innovation, potential, liberation, and opportunity every other currency cannot pose.
Already at the current bitcoin price of about $ 60,000, only a rich person can afford to buy a whole bitcoin. The larger the amount of investment in it, the more profit the investor can get in the future. This is the same as in conventional markets.Bitcoin will never equalize fiat currency because Bitcoin posed the innovation, potential, liberation, and opportunity every other currency cannot pose.
So far, only those who have previously foreseen the prospects for the development of cryptocurrency have won and purchased it at low prices. In the future, the rules of the stock and securities market apply.
I don't give any chance for the current situation to change in the future. I mean, Bitcoin has always been for every kind of people (poor, rich etc.). And it will always continue to be like this. And of course, we will also continue seeing new millionaires when the bull market comes.
It may be a personal perspective. But in fact, everyone can get into Bitcoin, how much it is and how many they have. Bitcoin is for everyone worldwide, being a digital asset or commodity or even become a means of transaction payment methods.
The existence of bitcoin in the world may not diversify between the rich and also poor. many people are not showing their Bitcoin, so we don't know whether they're rich from Bitcoin or not. that is why I love Bitcoin where it may not really show the gap between the poor and rich.
The existence of bitcoin in the world may not diversify between the rich and also poor. many people are not showing their Bitcoin, so we don't know whether they're rich from Bitcoin or not. that is why I love Bitcoin where it may not really show the gap between the poor and rich.
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