When will Bitcoin become obsolete? - page 5.

Zacudis

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Quote from: fuathan on January 10, 2016, 12:43:03 PM

Oh! My mistake!.. I accidentally hit 3 years.

I think bitcoin will be a new "gold" and every cryptocurrency will adjust their value according to bitcoin's value.

Bitcoin is already "gold" in the cryptocurrency world. All the altcoins are priced against Bitcoin in exchanges.

lahm-44

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As for my opinion, I think I’d put my money on the last option.

That is, the national financial authorities eventually adapting the Bitcoin idea and implementing it for their own currencies. I think this will in time be the most likely turn out in the long run.

But I think it’s unlikely to happen for perhaps a good few decades or more yet. At present, we still use the old system of banknotes, coins and plastic cards. Governments are notoriously conservative and cautious when it comes to new ways of doing things. So it will take time for these new concepts to gain full acceptance.

BellaBitBit

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Quote from: MaritiJames3 on January 08, 2016, 09:37:23 AM

I don't think bitcoin will ever become obsolete. Seems impossible, the reasons why people are holding off on using bitcoin, even the ones that know about it,
is because of what the media feeds them. A lot of people think that the news that they watch or hear is accurate.

exactly. The media is a big factor on how people perceive and then proceed with a decision. The price is healthy right now and has remained that way for several months through some not so good press. Bitcoin is holding its own but more mainstream press will certainly make people trust it more and perhaps buy in. It will not become obsolete anytime soon - it is just getting started.

abercrombie

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Quote from: ridery99 on November 22, 2015, 02:22:43 AM

Regular people are refused to use Bitcoin or doesn't understand why it's important except for criminals and speculators.
Transaction times are too slow... The list goes on. Everybody I know already know what Bitcoin is but they are not
interested.
So it's a matter of time when central bank(s), government(s) or bank(s) create their own crypto currencies and block chain
based services more advanced than Bitcoin. Same happened with the internet: In the beginning it was free stuff and
small open source projects, now it's completely dominated by few huge companies who collect all the revenues (Google,
Facebook, etc)

So when this will happen to block chain and Bitcoin will become obsolete?

(Please no delusional believers "Bitcoin will replace fiat" type of nonsense comments)

That's like asking when will the Internet become obsolete.

Yakamoto

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Quote from: Zacudis on January 11, 2016, 02:07:10 PM

Quote from: Blawpaw on January 10, 2016, 02:35:24 PM

It is not a question of years but rather If Banks decide they want to make Bitcoin obsolete they will!

If the banks can get profits out of bitcoin, they will also adopt bitcoin and lobby for its adoption. Profits speaks loud.

We've been seeing a lot of banks start to invest in Bitcoin startups, from the VC bank investing in Coinbase(?) to some other banks having invested in other smaller online wallets.

Its not a guess anymore if banks are investing in Bitcoin businesses, its now a question of how much.

Pollak

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Pollak

Maybe in 25 years but not sooner.
First we need to have all the bitcoins being mined.

Then mass adoption.

Then we bitcoin 2.0 protocol.

Quantus

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When something better comes along that can't be incorporated into bitcoin.

Bitcoin is Borg it assimilates.

Zacudis

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Quote from: Blawpaw on January 10, 2016, 02:35:24 PM

It is not a question of years but rather If Banks decide they want to make Bitcoin obsolete they will!

If the banks can get profits out of bitcoin, they will also adopt bitcoin and lobby for its adoption. Profits speaks loud.

Blawpaw

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It is not a question of years but rather If Banks decide they want to make Bitcoin obsolete they will!

BTCBinary

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That's like guessing when will the next big asteroid hit earth. There's only one thing that can make Bitcoin obsolete. Us. If we stop believing in the whole idea that Satoshi wanted to offer us, then bitcoin will become obsolete.

partysaurus

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where is the never option? to be honest bitcoins future is brighter then fiat money.

50cent_rapper

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Within 3 month.

redsn0w

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#Free market

However, where is the 'never' option ;D ?

fuathan

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Aleph.im

Oh! My mistake!.. I accidentally hit 3 years.

I think bitcoin will be a new "gold" and every cryptocurrency will adjust their value according to bitcoin's value.

tyz

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It will not be obsolete within the options you provided for the poll. Why? Because there will be apps which make Bitcoin using much more easier than it is yet. This will increase the acceptance also from non-techie people.

HarryKPeters

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Live Stars - Adult Streaming Platform

It will become obsolute eventually but not the coming years.
For sure it will take 50/60 years for something new to enter the market and outcompete bitcoin.

Raimonn

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In my opinion it will not become obsolete, because its open and can be changed if its necessary. Governs can create this own cryptocoins these coins will be controlled by them and every country would have its. Bitcoin don't depends on governs, and this is why some users like it.

European Central Bank

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I think we'll know the answer to that real soon. If bitcoin's developers don't make some moves to show it can evolve then it'll be bypassed. If it can move with the times then it's not going anywhere for the rest of our lives.

Zacudis

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Quote from: maudevang on January 08, 2016, 08:27:57 AM

I think it wil take over 10 years for this to actually happen
I don't think banks have figured out away yet where a crypto currency could benefit them

I think bitcoin will not be obsolete. The banks will adopt bitcoin in the future if they can make money out of it.

martinacar

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I will like to see a bitcoin at the price of 5000 dollars that would be a nice price to be stable at.
Is not that high that people spec but is something big for a currency this new.

And I think it will just take a long time to be obsolete.

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