Topic: What is the most optimistic result of Bitcoin? - page 3. (Read 932 times)
The best result is that after about ten years, gold will plummet for some reason, regain its industrial status, completely lose its hard currency status (including all precious metals), and fiat currencies will depreciate due to the economic crisis, and only virtual currencies will become Bitcoin is the dominant currency in the hard currency that can allow all mankind to reach a consensus.
the most optimistic result of bitcoin is that it has made our finances very good, and other optimistic results as well as an asset, bitcoin is very good to use as an asset, because if we use it as a legal tender, it is very difficult for us to control, let fiat be a tool legal payments, and bitcoin becomes an asset for us..
Bitcoin is indeed much better if used as a store of value, we don't expect Bitcoin to be legalized because there will be pros and cons if that happens, one of which may be that the fiat function will gradually be replaced if that happens and everyone will feel comfortable using Bitcoin payments
It is already a currency between major people who wish to accommodate Bitcoin as a payment option for their goods and those who are spending it to purchase those goods from the people accepting it. However, the volatility of Bitcoin is on a high scale for any country to accept it as a legal currency replacing their traditional owned currency. The best any country can do is to follow the same principle as El Salvador. The most optimistic result so far has to be fact that it is a powerf house of transaction involving only the receiver and the sender without the interference of third parties.
my belief that bitcoin will never become a global currency that replaces all fiat currencies and is used every day to buy daily necessities.
but my strongest belief is that bitcoin can change my life in the future by saving bitcoins
but my strongest belief is that bitcoin can change my life in the future by saving bitcoins
the most optimistic result of bitcoin is that it has made our finances very good, and other optimistic results as well as an asset, bitcoin is very good to use as an asset, because if we use it as a legal tender, it is very difficult for us to control, let fiat be a tool legal payments, and bitcoin becomes an asset for us..
Are you really still asking these sort of questions? Have you read about El Salvador? If that's not fulfilling bitcoin's mission I don't what else could do that. Now the optimistic result is to have as many countries as possible being able to recognize bitcoin has a legal tender! That would make it!
The "ready to replace fiat currencies" part is really debatable. Because there are still big problems like scalability for Bitcoin. This is the biggest problem I think and they should incline to solving this problem to make Bitcoin even much better for high-amount of transactions.
Unfortunately, the term payment network would awake false hopes for many. It is like calling a truck a car, renting a truck out as a car to a couple who wants to have some relaxed holidays traveling in a nice car. Bitcoin is not what one would call a payment network I guess. Maybe a special purpose payment network at best. Imagine you never found out about Bitcoin before and someone says to you it is a payment network. You say cool, let me get Bitcoin and grab some coffee. Uhm, well, the fee will be three times as high as the price of your coffee and you may need to wait for an hour until your payment is confirmed. Bitcoin may evolve towards a payment network, but right now I'd say it is for sure not a general purpose payment network.
I like the bolded part of your statement, I totally agree!
I like the bolded part of your statement, I totally agree!
Thanks for the reply! I agree with you to a certain extent. Bitcoin is not yet at a point where we can use it as an effective and efficient payment network due to the volatility of price. This is why I see its growth as a two-phase evolution. Until it reaches high levels of liquidity it will act more as an appreciating asset. Once the liquidity has established at higher level prices like (I'm thinking at 6 figures), we might see reduced volatility due to the involvement of banks, market-makers, etc.
If Bitcoin reaches low volatility, its use as a payment method would be more viable for people who are risk-averse. Alternatively, with all the financial engineering that we have today someone can create a decentralized currency that is pegged to dollar, but backed by BTC. If I'm not wrong there is already an incipient solution created by Money On Chain team.
Lightning network solves the waiting and the fee problem. We just need coffee shops to integrate it.
Bitcoin's future is not certain as anything else, but what we know is that it represents a valuable, secure network for making payments worldwide and that it is a scarce resource.
From this known facts we could assume that it is designed to be both a proof-of-value in which people to store their economic credits (money) and a method of transfering those credits.
Bitcoin can become the base layer for virtually unlimited number of applications built upon it. DeFi apps are built on a sidechain of Bitcoin (RSK) as we speak. Some are already generating great waves of interest. I don't think there is a "result" for Bitcoin. I see it more as an ever evolving network. Perhaps you can call them milestones like achieving a certain market cap or on-chain volume, but you can't call them a "result".
From this known facts we could assume that it is designed to be both a proof-of-value in which people to store their economic credits (money) and a method of transfering those credits.
Bitcoin can become the base layer for virtually unlimited number of applications built upon it. DeFi apps are built on a sidechain of Bitcoin (RSK) as we speak. Some are already generating great waves of interest. I don't think there is a "result" for Bitcoin. I see it more as an ever evolving network. Perhaps you can call them milestones like achieving a certain market cap or on-chain volume, but you can't call them a "result".
Unfortunately, the term payment network would awake false hopes for many. It is like calling a truck a car, renting a truck out as a car to a couple who wants to have some relaxed holidays traveling in a nice car. Bitcoin is not what one would call a payment network I guess. Maybe a special purpose payment network at best. Imagine you never found out about Bitcoin before and someone says to you it is a payment network. You say cool, let me get Bitcoin and grab some coffee. Uhm, well, the fee will be three times as high as the price of your coffee and you may need to wait for an hour until your payment is confirmed. Bitcoin may evolve towards a payment network, but right now I'd say it is for sure not a general purpose payment network.
I like the bolded part of your statement, I totally agree!
Bitcoin's future is not certain as anything else, but what we know is that it represents a valuable, secure network for making payments worldwide and that it is a scarce resource.
From this known facts we could assume that it is designed to be both a proof-of-value in which people to store their economic credits (money) and a method of transfering those credits.
Bitcoin can become the base layer for virtually unlimited number of applications built upon it. DeFi apps are built on a sidechain of Bitcoin (RSK) as we speak. Some are already generating great waves of interest. I don't think there is a "result" for Bitcoin. I see it more as an ever evolving network. Perhaps you can call them milestones like achieving a certain market cap or on-chain volume, but you can't call them a "result".
From this known facts we could assume that it is designed to be both a proof-of-value in which people to store their economic credits (money) and a method of transfering those credits.
Bitcoin can become the base layer for virtually unlimited number of applications built upon it. DeFi apps are built on a sidechain of Bitcoin (RSK) as we speak. Some are already generating great waves of interest. I don't think there is a "result" for Bitcoin. I see it more as an ever evolving network. Perhaps you can call them milestones like achieving a certain market cap or on-chain volume, but you can't call them a "result".
I think the most optimistic outcome for Bitcoin would be to return to its roots, which is to play to the nature of bitcoin as a currency, as the opposite of global fiat currencies, coexisting with global fiat currencies and ready to replace the declining credit of fiat currencies, such as overissued US dollars.
That would require the majority of Bitcoin holders to refrain from speculative activity. If that happens Bitcoin could become a currency. Otherwise how do you see Bitcoin achieve sufficient stability in order to work as a currency as we know it?
So people in the crypto community would find other ways to make bitcoin a profitable one by trading or just simply holding. And we can't stop them from doing it because honestly, the best result for bitcoin right now is knowing how profitable it is as an asset or an investment.
I don't know if Bitcoin even needs specific legalization. It already does what it is supposed to do. Provide an alternative investment vehicle that is the only one which is out of government's control.
bitcoin has a positive impact on its users, even though most governments prohibit bitcoin, and also the world bank does not support el salvador in legalizing bitcoin, but in my opinion bitcoin has given a lot of optimistic results in bitcoin, because bitcoin brings a new atmosphere, and new challenges, in in our search for profit, we can make bitcoin the best asset for our future..
The best-case scenario is that Bitcoin is used worldwide as a currency. Bitcoin becomes a global currency, people can use Bitcoin anywhere in the world easily. Currently, the transaction cost issue is being resolved temporarily with the lightning network solution. We can expect cheap, high-speed Bitcoin payments in the future.
not really optimistic if bitcoin becomes a global currency. Due to some of the weaknesses that bitcoin has, Bitcoin is still not accepted by some countries. Bitcoin will not be the same global currency as FIAT. Bitcoin will still be under FIAT. Bitcoin is only an optional digital currency. But I don't know what will happen in the future, for sure Bitcoin or cryptocurrency will continue to grow.hmm. Of course, Bitcoin is an options currency, it will always be below FIAT but not any FIAT is universally accepted.
The topic we are discussing is the best optimism that Bitcoin can achieve. They are speculative only. To know in the future whether Bitcoin will be accepted globally or not we have to wait.
bitcoin is a decentralized currency, which there is no legal/government entity that regulates unlike money, which serves to become one of the transaction tools in the future because Bitcoin was one of the first implementations of the so-called cryptocurrency (crypto currency?) so let's just wait for this crypto currency to develop and grow
well it had already grown. that positive sign is already way more than 1000x. one optimistic result is that when the FED keeps printing USD, the BTC will somehow go up. and El Salvador country had kickstarted Bitcoin to be legal tender although they may not be the first to do it, they have made it to the media which some countries are also considering what they do. it's just hard to see when the price will blowup to break the ATH again.
The development of Bitcoin is very rapid right now, not only the price has gone up very high. But some countries started to legalize Bitcoin,
I agree that what the country of El Salvador is doing shows Bitcoin is already giving optimistic results. Because if the country of El Salvador
succeeds with its decision to make Bitcoin a legal tender, this will be a trigger for other countries to follow in the footsteps of the country of
El Salvador. I believe Bitcoin if used properly will be able to make people's lives better.
I think the most optimistic outcome for Bitcoin would be to return to its roots, which is to play to the nature of bitcoin as a currency
Why are you optimistic about this? So Bitcoin as a digital asset, won't last a long time? Or being a digital asset isn't a proper function?I assume Bitcoin doesn't need to return to its nature since Bitcoin is also used as a payment tool nowadays. Although not all countries accept it, its function as a currency is still there. Bitcoin should develop more, I mean to function isn't only just a currency. Why not function both as a digital asset and a currency? Nothing wrong with this, right?
Its not actually the opposite of fiat as you have said on your statement. It was already been recognized as an alternative monetary system thus making it easier for people to transact payments thru online without worrying any third party involvement. That is the strong benefit of bitcoin.
However, not all accepted bitcoin's way of dealing as cryptocurrency flactuate. Thus there are also weak sides of it. But then overall, the development of bitcoin has been grown big with its blockchain system.
However, not all accepted bitcoin's way of dealing as cryptocurrency flactuate. Thus there are also weak sides of it. But then overall, the development of bitcoin has been grown big with its blockchain system.
bitcoin is a decentralized currency, which there is no legal/government entity that regulates unlike money, which serves to become one of the transaction tools in the future because Bitcoin was one of the first implementations of the so-called cryptocurrency (crypto currency?) so let's just wait for this crypto currency to develop and grow
well it had already grown. that positive sign is already way more than 1000x. one optimistic result is that when the FED keeps printing USD, the BTC will somehow go up. and El Salvador country had kickstarted Bitcoin to be legal tender although they may not be the first to do it, they have made it to the media which some countries are also considering what they do. it's just hard to see when the price will blowup to break the ATH again.
bitcoin is a decentralized currency, which there is no legal/government entity that regulates unlike money, which serves to become one of the transaction tools in the future because Bitcoin was one of the first implementations of the so-called cryptocurrency (crypto currency?) so let's just wait for this crypto currency to develop and grow
This will be always the goal of Bitcoin, to be a world cryptocurrency. However, right now, it is still in progress to be accepted by many more people, countries, companies, and also institutions so that many more believe in BTC. SO far, there is so much news of pros and cons about Bitcoin. The cons will always spread the FUD and make BTC seems to be a dangerous or not worthy thing to have or invest or use as currency.ANd now, there are still many countries banning BTC
I think the most optimistic outcome for Bitcoin would be to return to its roots, which is to play to the nature of bitcoin as a currency, as the opposite of global fiat currencies, coexisting with global fiat currencies and ready to replace the declining credit of fiat currencies, such as overissued US dollars.
That would require the majority of Bitcoin holders to refrain from speculative activity. If that happens Bitcoin could become a currency. Otherwise how do you see Bitcoin achieve sufficient stability in order to work as a currency as we know it?
So people in the crypto community would find other ways to make bitcoin a profitable one by trading or just simply holding. And we can't stop them from doing it because honestly, the best result for bitcoin right now is knowing how profitable it is as an asset or an investment.
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