Topic: What will the world look like in 10 years if Bitcoin succeeds? - page 3. (Read 8785 times)

This thread title reminded me of a dream I had once, where I was frozen in time basically like Fry is in Futurama.

When i awoke they started talking to me and asking who I was and what the last thing was I remembered, after a while I told them that I used to have a bitcoin wallet and that I don't actually remember how much I had left there but if any of them knew what it even was. It had been 20 years since I was frozen and the year was 2034. The nurse looked at me and said, oh you mean Bits? Yea that's the international currency used in pretty much everything nowadays.

They brought me a computer and I checked my email so I could get my login info to my wallet that I used to have on blockchain.info and after syncing it on a fresh wallet for some time (the wallet became 37 Petabytes big I remember ) it synced successfully and added some more transactions from a mining site I had been mining on for atleast 1 more year after being frozen. My final balance was 5.8 btc and when the nurse looked at it, the expression on her face was priceless as she stuttering explained to me that with 5,800 bits I could literally buy a hotel with it.

Was a fun dream.

if the problem of blockchain is solved, and 80% of the people knows about bitcoin then i think we can see a new world with new technology and where bitcoin is the mainstream of life.

i picture a world where people carry a device just to be used as a bitcoin wallet. and each btc is worth alot so people mainly only transact bits

Federal reserve will be scrambling, banks will somehow adapt, and i'll be telling "I told you so" to my mother.

If Bitcoin becomes mainstream, then the collapse of society as we know it is closer than ever.

Bitcoin (or very-fast-unregulated transactions) opens the door for a very fast velocity economy. In the Internet/Globalized/Capitalist world we live in, this means the concentration of wealth in the hands of a very small percentage of society.

We'll then talk about the 1% of the 1%.

Current banks will try to leverage their current positions to take/compete with Bitcoin.

Some early-early/late-early will become ultra/very rich.

Govs will continue to use "legal" force to tax your ass. Bitcoin or Buttcoin or USD.

The remaining of society will remain at this shit it currently is right now.

Things will become more efficient/secure. Some people in poor countries will have more leverage against their govs; destabilizing these places even more. And driving them into more poverty and chaos.

I'm long on bitcoin.

Bitcoin will be a mainstream, more users will use it, although i'm not really sure if the govs will make it legal completely.

More value, less supply and more demand.

Blockchain itself will be become a solution, because this will kill all corruption.

Price of bitcoin compared to us dollar 25 K. Bitcoin accepted and regulated in at least 100 countries of the world which must be the most developed and important. Use of computer and the internet by most of the peoples. This will help the spread and the use of it. Existence of paper bitcoin which will make it accessible for all those which don't want or cannot use the computer for their reasons and for those which want to touch it. This form of it will made possible the use of it for the everyday needs by everyone.

A Bitcoin seastead demonstrates how a Bitcoin economy can work inspiring small communities around the world to switch over to Bitcoin as their main currency using their fiat currency for things like taxes and government payments which they obtain by using localbitcoins only when needed.

Several countries economies fail with their banking systems taking peoples money to pay for their debts. The first few countries suffer greatly because of this but then one country fails but has enough of a bitcoin economy that the government is the main thing to fail with several big businesses but the rest of the population moves on.

After seeing that a country can fail and still continue when most of its citizens use bitcoins, other countries citizens will start switching to Bitcoin and actively vote to have their nation go bankrupt for an economic reboot.

1. The price of 1BTC will be around $2k.

2. Almost everyone will have two-way Satellite Internet and thus BTC will be a helpful thing in any location in whatever the circumstances.

3. Fiat money will be so unreliable in some countries that people there will use mostly Bitcoins.

They would lose control. But if they adopt/adept, they will survive and provide a service, no extreme profit though.

The only reason banks are scared of bitcoin is because they would lose control. They wouldn't be able to make billions out of fees, fines, interest etc.

Fuck the banks.

if bitcoin succeeds in what means ? in my view if bitcoin succeeds with the problem of blockchain problem then i am seeing that bitcoin we take over the whole new world. and the life will become more clear, purchasing through bitcoin, doing business in all field, and more like this.

I'm pretty sure that we can send data at the speed of light now. In fact the Roman Empire used mirrors for signalling a while ago... although probably not to Mars

That's the point. Because you would always have that choice of being your own bank, the only way for banks to attract customers and deposits would be to offer real value-added services. Those that don't will not survive.

- The banks that survive will become software companies.

- Most central banks will be not have the courage to raise interest rates to heal the excesses in debt in a deflationary environment. Fiat currencies will progressively devalue to the point where most people won't trust them. Central bankers will try to keep their jobs by switching to a watered-down gold standard. Most people would rather choose Bitcoin.

- Less friction in markets will reduce poverty in most countries. However, this will take longer than most expect because first there needs to be a painful deleveraging of the excesses of the debt bubble.

- Bureaucracy will be greatly reduced. Less lawyers, less notaries, less registrars.

- Insurance companies will be replaced by betting algorithms.

- Lottery revenue by the state will be zero.

- Real estate and land will be on the radar of the taxman. It wouldn't surprise me if we get to the point where the value of rent+taxes=mortgage payments+maintenance. This will seriously devalue the price of properties, to the point where governments will maintain themselves in power mostly on this type of revenue. First we will see a shift in public consciousness, driven especially by the governments themselves, to bring a house for a low cost to every citizen, which will make the path much easier for subtle and slowly-but-surely real estate confiscation.

And so on...

I dont think well all be rich, from the surveys I have seen many don't have over 5 if even that. Bitcoin would have to be greater than 100k at that point to make everyone rich imo. I guess its a possibility but I doubt it will be that high in just 10 years. You would need just way too much money and the state of mind would have to completely change to view bitcoin in the same light as gold in terms of a store of value.

Why a paper wallet? Mars is only 10 light minutes away (on average). He could probably still send transactions to the network and get them into the next 1-2 blocks...

Charging for deposits is what banks used to do before they all went fractional reserve. A real deposit contract is like a car-park contract, not a loan. Term deposits on the other hand would still be remunerated.

In fact there are a couple of full reserve banks in existence right now (Peter Schiff's Europacbank for example), and they charge monthly fees for storing your money and keeping it safe, just like a car-park operator would do.

Does it mean for current account, the bank cannot use your bitcoin without your permission? That is bad for banks. They have to charge for accepting deposits.