Topic: Your thoughts about Bitcoin in years to come - page 2. (Read 582 times)
I just know everyday Bitcoin is getting more popularity I believe the volatility nature will still be constant in the up coming year. One thing is that no one can predict about Bitcoin. But whatever I'm still waiting to see how Bitcoin will roll in years to come.
Well, we have to expect some changes but it was unlikely to see Bitcoin will rule the world.
Fiat money will still widely use globally while Bitcoin is still a payment option. And might be possible that Bitcoin will even replace by another but not fiat. We saw that some big companies are adopting Bitcoin but this is not literally mean we are waving away to use fiat anymore. As long as not all transactions are accepting Bitcoin or any cryptocurrencies (offline transactions), we can hide the reality that fiat will still be in major use.
Fiat money will still widely use globally while Bitcoin is still a payment option. And might be possible that Bitcoin will even replace by another but not fiat. We saw that some big companies are adopting Bitcoin but this is not literally mean we are waving away to use fiat anymore. As long as not all transactions are accepting Bitcoin or any cryptocurrencies (offline transactions), we can hide the reality that fiat will still be in major use.
Even with LN you have to open channels in the blockchan and I remember reading an explanation from o_e_l_e_o some time ago pointing out that, because of this, even with LN a massive worldwide adoption couldn't be supported by the blockchain.
Here's the post in question: https://bitcointalksearch.org/topic/m.57236745There is some good discussion on that thread regarding future developments such as Eltoo and Channel Factories in the first couple of pages before it gets derailed. My general feeling is that obviously Lightning could not support global adoption yet because of onboarding/offborading reasons, but also, it does not need to yet. There are a number of things currently in development, and I'm sure more far more to be proposed over the next 10 years, that can make opening and closing channels more efficient or less necessary. Whether or not we also need some changes to the base layer to support this is yet to be seen I guess.
I haven't seen any research that is suggesting that FIAT would be dissolved and not in use anymore. At best we can see crypto and FIAT coexisting in the same space. As for Bitcoin, I doubt we will be seeing a 'One ring to rule them all scenario' because today's crypto space is being filled with numerous coins that present a value to the consumer that Bitcoin doesn't, most importantly in the technical aspect. I think Bitcoin would not thrive the way it does if it hadn't been for other projects in crypto, and I believe it to be so in the future.
You also forget that bitcoin is a currency before anything else. And I believe that eventually we will reach mass adoption (maybe in 10 to 15 years) and by then value will be very stable creating more incentive for bitcoin to be used as a currency instead of some investment to make you rich. That means another type of increased liquidity.
It is indeed clear to me that you are sure that it is a currency before anything else (I'm just half convinced yet).
How do you think it can support a billion transactions a day or more? With LN or another second-layer solution? Even with LN you have to open channels in the blockchan and I remember reading an explanation from o_e_l_e_o some time ago pointing out that, because of this, even with LN a massive worldwide adoption couldn't be supported by the blockchain.
They will be unbelievably scarce, even if you want to buy 1 whole Bitcoin let alone
Satoshi's you wont be able to. Think about it there are just over 20,000,000
millionaires in the world so even if every single one of them wanted to own 1 whole
Bitcoin it is numerically impossible for them to do so.
This will never happen in my opinion because for starters bitcoin is already distributed among many individuals, so there won't be a handful of millionaires holding bitcoin tightly not selling or using it ever. There will always be a liquid market with increasing liquidity where anyone could go and purchase any amount of bitcoin granted they have the money to pay for it.Satoshi's you wont be able to. Think about it there are just over 20,000,000
millionaires in the world so even if every single one of them wanted to own 1 whole
Bitcoin it is numerically impossible for them to do so.
You also forget that bitcoin is a currency before anything else. And I believe that eventually we will reach mass adoption (maybe in 10 to 15 years) and by then value will be very stable creating more incentive for bitcoin to be used as a currency instead of some investment to make you rich. That means another type of increased liquidity.
What will life after the dump of fiat looks like?
What is your prospect about Bitcoin in the next century?
Yeah. We all can see how Bitcoin is becoming purpular rapidly everyday , everyone talks about Bitcoin and everyone who knows what Bitcoin is all wants to roll with it because they see the future in Bitcoin and they understand where Bitcoin is going. Even on how Btc is elevating it cant dump fiat because fiat is the property of the government.
What will life after the dump of fiat looks like?
I'm also this kind of believer about bitcoin and blockchain before but we have to realize that not every country is set to adopt bitcoin as a replacement to the usual money system that we have.
I'm also this kind of believer about bitcoin and blockchain before but we have to realize that not every country is set to adopt bitcoin as a replacement to the usual money system that we have.
I quite agree on this, in the developed countries bitcoin has become viable currency and some merchants are now accepting it as a payment for a product or service. Bitcoin has a large user base in this rich countries but how about in the developing countries? I think only a small fraction of people knows it and have experience with it.
What is your prospect about Bitcoin in the next century?
If by chance I'm still alive by that time. It's really unknown, technology is very quick in upgrading and just like how bitcoin has taken a lot of attention from different masses. There can be another the same thing that might emerge but for now, it's sure that bitcoin is here to stay.
If by chance I'm still alive by that time. It's really unknown, technology is very quick in upgrading and just like how bitcoin has taken a lot of attention from different masses. There can be another the same thing that might emerge but for now, it's sure that bitcoin is here to stay.
Century is too far to discuss, all i know that bitcoin is constantly evolving and that is good news.
I am expecting that many countries will accept bitcoin as another. To be exact, no one will know exactly what will happen in years to come except bitcoin halving. We all know that fiat existed for a very long time so It still remain where bitcoin coexist with fiat as many government doesn't want decentralised assets.
FIAT isnt going anywhere there will be digital payments which are increasing,
its still FIAT without the physical paper or metal but instead through cards and
mobile phone. Bitcoin is not going to replace this system, it is an alternative.
Not everyone wants to adopt an alternative system.
MY thoughts about Bitcoin in years to come?
They will be unbelievably scarce, even if you want to buy 1 whole Bitcoin let alone
Satoshi's you wont be able to. Think about it there are just over 20,000,000
millionaires in the world so even if every single one of them wanted to own 1 whole
Bitcoin it is numerically impossible for them to do so.
https://www.consultancy.uk/news/28371/the-world-now-has-more-than-20-million-millionaires
its still FIAT without the physical paper or metal but instead through cards and
mobile phone. Bitcoin is not going to replace this system, it is an alternative.
Not everyone wants to adopt an alternative system.
MY thoughts about Bitcoin in years to come?
They will be unbelievably scarce, even if you want to buy 1 whole Bitcoin let alone
Satoshi's you wont be able to. Think about it there are just over 20,000,000
millionaires in the world so even if every single one of them wanted to own 1 whole
Bitcoin it is numerically impossible for them to do so.
https://www.consultancy.uk/news/28371/the-world-now-has-more-than-20-million-millionaires
I am new to the Bitcoin but I am having a conviction that Bitcoin is going to rule the world very soon seeing the may people are approaching Bitcoin every single day to invest in it. I may not be correct now but I know some day every nations of the world will dump the paper money and go for something better like the Blockchain world in running business and everything.
Bitcoin might not be the general currency the world would use in the future because of its unstable and highly volatile nature and because bit doesn't have its own intrinsic value. But definitely a digital currency would emerge keeping aside the fiat currency that would serve as a world currency saving up the issues of exchange between currencies and making services across boarders more convenient 
But to finally establish itself with the regulators, change the legislation, which is poorly developed in the field of cryptocurrencies, and also interest the majority of the population in bitcoin, it takes time.
Yes, a lot of time indeed. There are still many major issues and challenges hindering global adoption of cryptocurrency. The percentage of persons aware and conversant with cryptocurrency cannot even equate the percentage that are unaware. For the time factor, cryptocurrency has just been in existence from 2009, from then till the present (2021) is roughly just 12 years, that's too small a time frame for cryptocurrency to be able to push out the traditional fiat that has been in existence for a much longer period. IMHO, anyone who believes that cryptocurrency will quickly soon completely replace the traditional fiat is just being delusional and unrealistic. It has to gain global acceptance and adoption first. Hence, my thoughts about bitcoin in the years to come is that it will soon, Slowly but definitely be accepted and adopted by every country of the world. 
Already today, bitcoin is changing the mind in such an environment as the banking environment. And also its volatility is not very scary, since its price does not fall to critical values. But to finally establish itself with the regulators, change the legislation, which is poorly developed in the field of cryptocurrencies, and also interest the majority of the population in bitcoin, it takes time. We all know that any global change does not happen overnight. And thus, fiat will remain "to rule the show" until better times.
The best answer would be, Nobody knows what the future holds. So we can't just say that every government will dump all fiat money. We all know that the government and bitcoin doesn't have a good relationship. Fiat money will stay and would still exist in many years because even if bitcoin can become known by the whole world, not all people has the ability to use it and will be able to do it.
The majority doesn't approved that because fiat money is what dominates the country but in the future i know that bitcoin will continue to grow and develop. For now, the only thing that we should do is to focus on the present because we wouldn't even know if we are gonna be in the future. Time is gold and we have to treasure everything we have and we also have to be grateful.
The majority doesn't approved that because fiat money is what dominates the country but in the future i know that bitcoin will continue to grow and develop. For now, the only thing that we should do is to focus on the present because we wouldn't even know if we are gonna be in the future. Time is gold and we have to treasure everything we have and we also have to be grateful.
I know some day every nations of the world will dump the paper money and go for something better like the Blockchain world in running business and everything.
It's very possible that in the near future, no fiat money will exist in our hand. Everyone will use cryptocurrency but what's that exactly? I mean which one will be used? Well, every nation won't dump fiat money. Govt will introduce centralized govt currency which will have no much advantage for people supporting bitcoin. The model will more likely be USDT or other stablecoin peg to fiat money.hero member
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Bitcoin is going to rule the world very soon
Bitcoin is just a currency, currencies do not rule the world.This is what the IMF boss sees in Bitcoin when she advises the Central Banks to create their own CDBC.
Bitcoin will be recognized all across the globe, but it will not be accepted as legal money by the majority, as I have observed, but I am not a prophet.
Fiat isn't going away, it's staying because that's what dominates the country, and you don't expect what controls the country to go illiquid one day.
Bitcoin will continue to be the most sought-after digital money in the world.
Fiat isn't going away, it's staying because that's what dominates the country, and you don't expect what controls the country to go illiquid one day.
Bitcoin will continue to be the most sought-after digital money in the world.
What will life after the dump of fiat looks like?
Bitcoin is an alternative, not a replacement. Bitcoin get its superiority because fiat is centralized and highly getting devalued by the government. But if nothing inferior again, then bitcoin may not worth it. So, if fiat are dumped, it will be disastrous.What is your prospect about Bitcoin in the next century?
We are still in the second decade of this century, many people that are still living will die before the next century, the next century is so far to discussed about for now, many people close to the time will have such discussion, but not valuable for now.It's very possible that in the near future, no fiat money will exist in our hand.
If everyone can make use of phone, computer or other related devices that can process payment, it will be possible. But, did you think this is possible? Fiat can be like tradition, but it still offers some advantage. I wish not to use cash for payment again, but I have no option at times because not everyone are literate to using digital means of payment in my country, and with what I see about this, it will take many more decades even if fiat will be eliminated. 
I am new to the Bitcoin but I am having a conviction that Bitcoin is going to rule the world very soon seeing the may people are approaching Bitcoin every single day to invest in it.
More people invest in Bitcoin does not mean Bitcoin is going to rule the world.Quote
What will life after the dump of fiat looks like?
What is your prospect about Bitcoin in the next century?
Fiats in any forms, paper, polymer, digital number or CBDC are inflated or hyper inflated. They are hyper-inflated since the pandemic.What is your prospect about Bitcoin in the next century?
Governments won't make their fiats deflationary. Combine it with the more demand on Bitcoin, bigger adoption on cryptocurrency, Bitcoin will be exchanged at higher price, I believe it will happen. You can neither stop governments nor stop Bitcoin. So price has to rise.
The bullish case for Bitcoin
Purchasing Power of the U.S. Dollar Over Time
Bitcoin is going to rule the world very soon
Bitcoin is just a currency, currencies do not rule the world.Quote
seeing the may people are approaching Bitcoin every single day to invest in it.
The same people who are "investing" in a currency will dump and go away the moment it stops rising or whenever the price drops a little. So the "world" is not going to change this way!Quote
I may not be correct now but I know some day every nations of the world will dump the paper money and go for something better like the Blockchain world in running business and everything.
Blockchain is literary the least efficient form of database and when it is decentralized it can not do a lot of things (ie. "running business and everything"). In other words you are just hyped up about bitcoin so you think it and the technology it is using is going to be used everywhere!The reality is that bitcoin and bitcoin blockchain is working well and it is designed this way for decentralization. The same model is not suitable for anything else.
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The library, market, store, Fast food, transactions are now turning into digital which will help the Blockchain and the Bitcoin market to spike more than what we are seeing now.
Becoming "digital" has nothing to do with bitcoin or using blockchain!They started becoming digital way before bitcoin was even created.
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