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    Author Topic: Future of Bitcoin  (Read 1165 times)

    • WlanWerner (OP)
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    January 30, 2019, 02:30:26 PM
     #1
    Since I got more knowledge about Bitcoin and Crypto and all that Blockchain stuff I am thinking about it's future. I'm sure, that those crypto/Blockchain Coins will be part of the Future and that maybe they will replace Fiat. But at some points I'm thinking that the Coins which will lead the future won't be the Bitcoin. The Bitcoin is the native Coin, and the most important at the moment. But in some Points I don't see the Future in Bitcoin.

    1. During the Hype the transactions costs where at 10$, who wants to pay 10$ if he want to buy a coffee in the coffee shop around the corner. Furthermore the confirmation of those transactions were very slow. It took too much time for daily usage. Sure, Lightning should solve the problem, and all ppl which are involved in it are saying what a nice technic and that it will be the Future. But the not technic customer has no idea how to use it.

    2. In my opinion POW-Systems are also not sustainable for the future. In a world where sustainability and environmental friendliness gets more important, POW is a waste of energy. And, it's not even profitable anymore.

    3. Decentralization, the best argument for Bitcoin is the decentralization. But it can also be used against the Bitcoin. Because it isn't as decentralized as it should. 5 Pools would have more than 51% of the total hash rate. It sounds not real, that they would do a 51% attack on BTC, but nobody says that it won't happen in the future.

    All those are points against the Bitcoin, but I would like to know what you think about.

  • Sihab76
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    January 30, 2019, 02:34:38 PM
     #2
    The future of bitcoin is very bright. Because people of all over the world involving themselves in online virtual currency, they are interested in using Bitcoin as their daily purposes. Shopping, shipping, travelling, marketing, trading, gambling, online casino are managed by Bitcoin and others online virtual currency.

  • BrewMaster
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    January 30, 2019, 02:53:00 PM
     #3
    bitcoin is constantly improving and evolving, and so far it has been the best cryptocurrency that has been created because it is at a balance between all the features. it is not going all out on one thing to sacrifice everything else. like having faster transactions without decentralization.

    of course like any technology it has only so much to improve but we have at least another 50 to 80 years before we see something that can beat bitcoin in its game.
    There is a FOMO brewing...

  • Omparkash72
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    January 30, 2019, 04:12:05 PM
     #4
    Bitcoin is the only coin that attracts the investors to invest and the people who invest in Bitcoin in early stage they earn huge profit with that, so if anyone talk about crypto it means Bitcoin. Bitcoin have bright future because in the coming years paper currency changes into crypto currency due to latest technology and no doubt Bitcoin will lead that currency.

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    January 30, 2019, 04:57:37 PM
     #5
    In my own view, bitcoin as the mainstream of the blockchain has better future if am ask because it's the best cryptocurrency among all others. The display of bitcoin in respect of all coins is wonderful for one to note, bitcoin prince determine all other coins price in the market. Once the SEC and the ETF issue is be solve the real future of bitcoin will surface in full force.
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  • Harkorede
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    January 30, 2019, 05:14:35 PM
     #6
    Quote from: WlanWerner on January 30, 2019, 02:30:26 PM
    The Bitcoin is the native Coin, and the most important at the moment. But in some Points I don't see the Future in Bitcoin.

    So far there is continuous development, I don't see the future of Bitcoin as stake even though there's a huge possibility be of something far better as technology advances.

    You were able to highlight some challenges Bitcoin currently faces, these challenges are not unsolvable however it just about a matter of time before reasonable solutions are proposed and implemented. When mobile phone was invented GSM was the peak, then came the option of GPRS, who would have thought we would witness something like 5G eventually ?
    Bitcoin is a only a little over 10 years and there have significant update and features different from what it was at first, don't you think things can better ?
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  • killat
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    January 30, 2019, 05:39:20 PM
     #7
    Bitcoin's price is strictely relates to adoption rate. When adoption rate will increase, btc's prive will raise, as well.

    However, to have a bright future, the dominance of the total market cap needs to be kept at below 50%
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  • Julunguul
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    January 30, 2019, 06:00:51 PM
     #8
    Quote from: WlanWerner on January 30, 2019, 02:30:26 PM
    2. In my opinion POW-Systems are also not sustainable for the future. In a world where sustainability and environmental friendliness gets more important, POW is a waste of energy. And, it's not even profitable anymore.

    actually not only POW-Systems that are not suitable for the future, in my opinion all kind "Proof-Of" have their own expiration dates, this is because day by day we facing an updates which also cause an impact to this kind of system. No matter what, there will be always new stuff everyday to be added in this system.

  • mindrust
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    January 30, 2019, 06:42:33 PM
     #9
    It is %90 going to be bitcoin. Look at he trader/consumer/developer activity on all the other altcoins and compare it to Bitcoin's, Bitcoin towers them all. Even if some altcoin comes up with a superior tech Bitcoin is going to take that tech and implement it to its codebase and upgrade itself. With the 10 years of network effect, Bitcoin is not going down, only up.

    Take a look at the 2nd, 3rd and 4th (and 5th) spots on coinmarketcap.

    2nd is ripple = centralized trash. Bankster shitcoin

    3rd is ETH = experiences every problem bitcoin does on onchain tx and tries to solve them in the same way (2nd layer). If they are going to follow BTC's way (which is the right way btw) why use ETH then? Centralized as well. Remember DAO.

    4th is EOS = Must be joke. As shit as ripple. Centralized.

    5th is Bcash. Shitcoin.

    Which shitcoin is you think going to ovrethrow Bitcoin? There isn't one.
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  • kingpin4321
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    January 30, 2019, 07:32:22 PM
     #10
    Why has this thread about the future of bitcoin become a trend is it just another form of post count.
    No one is a fortune teller and can't be accurate in predicting the future of bitcoin.

  • Shawn20
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    January 30, 2019, 07:59:10 PM
     #11
    Bitcoin is a immortal digital currency.it present it is the most unique & popular coin.people around the world make it their earning source because Bitcoin has very bright future as it can never die & very soon they will see it at more than $19000.
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  • Glorious04
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    January 30, 2019, 08:25:15 PM
     #12
    Well we all know I guess and most of us believe that cryptocurrenccy and blockchain will be the future and not just part of the future. In short we are heading to a world of digitization. If not bitcoin, I believe there will be more and more altcoins that will be rising and to whatever will be the fate of bitcoin, I believe it will still be the main currency we will looking up too.

  • mich
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    January 30, 2019, 08:47:54 PM
     #13
    Quote from: kingpin4321 on January 30, 2019, 07:32:22 PM
    Why has this thread about the future of bitcoin become a trend is it just another form of post count.
    No one is a fortune teller and can't be accurate in predicting the future of bitcoin.


    Agreed in that we cant really predict the price so these types of threads are only FOMO, fear of missing out.
    I am sure there are a few insiders who can a better diea of what the price may become and when but they arent going to be sharing that information with the public.
    If price is a total concern for you you might want to leave.
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  • Artemis3
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    January 31, 2019, 02:54:03 AM
     #14
    Quote from: WlanWerner on January 30, 2019, 02:30:26 PM
    Since I got more knowledge about Bitcoin and Crypto and all that Blockchain stuff I am thinking about it's future. I'm sure, that those crypto/Blockchain Coins will be part of the Future and that maybe they will replace Fiat. But at some points I'm thinking that the Coins which will lead the future won't be the Bitcoin. The Bitcoin is the native Coin, and the most important at the moment. But in some Points I don't see the Future in Bitcoin.

    1. During the Hype the transactions costs where at 10$, who wants to pay 10$ if he want to buy a coffee in the coffee shop around the corner. Furthermore the confirmation of those transactions were very slow. It took too much time for daily usage. Sure, Lightning should solve the problem, and all ppl which are involved in it are saying what a nice technic and that it will be the Future. But the not technic customer has no idea how to use it.

    2. In my opinion POW-Systems are also not sustainable for the future. In a world where sustainability and environmental friendliness gets more important, POW is a waste of energy. And, it's not even profitable anymore.

    3. Decentralization, the best argument for Bitcoin is the decentralization. But it can also be used against the Bitcoin. Because it isn't as decentralized as it should. 5 Pools would have more than 51% of the total hash rate. It sounds not real, that they would do a 51% attack on BTC, but nobody says that it won't happen in the future.

    All those are points against the Bitcoin, but I would like to know what you think about.

    1. This is not going to happen anymore. There is segwit and Lightning network now, TX fees are at the lowest and will get even lower in v18.
    2. You answered the solution yourself. BECAUSE its not profitable, the last remaining miners will be those using free renewable energy.
    3. There is no need to use those pools, and unless one gets all 51%, it doesn't matter. Any attempts to do this gets more and more expensive.

    There is no doubt that Bitcoin has adapted to the challenge, thanks to its community of developers, miners and node operators. It has resisted attacks, forks, and drama. 10 years and counting, no blockchain reversals or hacks, it has kept its promise unlike certain altcoins...
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  • r_uyab
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    January 31, 2019, 04:41:41 AM
     #15
    I think the future of bitcoin is also promising as well as a bright future, because bitcoin is also a great way to make investments and transactions for ways to get good profits in a short time and also good in the long term, by buying cheap prices and waiting for price increases high, so you will also get more profits.

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    January 31, 2019, 08:09:16 AM
     #16
    Bitcoin is a standout amongst the most generally acknowledged cryptocurrencies. From online vendors to physical shops, many specialist co-ops have begun tolerating bitcoin alongside fiat money (ie, ordinary monetary standards, for example, AUD, USD and EUR). You can utilize bitcoin to buy different items and administrations, for example,

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  • Mighty_crypt
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    January 31, 2019, 08:45:16 AM
     #17
    Everything is going smoothly for bitcoin and cryptocurrency in general I get less worried as far as the market cap keeps growing and many new experts are getting into cryptocurrency and if this continues we will have a better crypto community and soon it will be a must for every one including those who have no interest now
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  • BlackPanda
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    January 31, 2019, 09:21:37 AM
     #18
    Quote from: jake zyrus on January 31, 2019, 07:42:18 AM
    Quote from: jokan on January 30, 2019, 06:26:38 PM
    There are more and more improvements everyday but I still think bitcoin is the most popular crypto so it has a lot of people mining it so it'll still be  the most popular in the future. Although other cryptocurrencies are getting more and more popular
    Bitcoin become progressive cause more improvements we see everyday, and all over the world known bitcoin now because of his benefits it become more popular now and future too and other cryptocurrency are also increasing.
    More and more place facilities that accept payments via Bitcoin. Things like this are very good because then Bitcoin users are increasing and causing the price of Bitcoin to increase. I am so optimistic that the future of Bitcoin will be very bright and this is the beginning to reach a much better era of digitalization.

  • chikading2016
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    January 31, 2019, 10:04:08 AM
     #19
    I believe that the future if bitcoin is really brighter than today. Bitcoin will become more useful in the near future because of the continuous growth of the people who use internet and I believe that someday bitcoin will become the most amazing way of payment and investment and many people will surely earn on it.
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    January 31, 2019, 10:10:37 AM
     #20
    Quote from: WlanWerner on January 30, 2019, 02:30:26 PM
    Since I got more knowledge about Bitcoin and Crypto and all that Blockchain stuff I am thinking about it's future. I'm sure, that those crypto/Blockchain Coins will be part of the Future and that maybe they will replace Fiat. But at some points I'm thinking that the Coins which will lead the future won't be the Bitcoin. The Bitcoin is the native Coin, and the most important at the moment. But in some Points I don't see the Future in Bitcoin.

    1. During the Hype the transactions costs where at 10$, who wants to pay 10$ if he want to buy a coffee in the coffee shop around the corner. Furthermore the confirmation of those transactions were very slow. It took too much time for daily usage. Sure, Lightning should solve the problem, and all ppl which are involved in it are saying what a nice technic and that it will be the Future. But the not technic customer has no idea how to use it.

    2. In my opinion POW-Systems are also not sustainable for the future. In a world where sustainability and environmental friendliness gets more important, POW is a waste of energy. And, it's not even profitable anymore.

    3. Decentralization, the best argument for Bitcoin is the decentralization. But it can also be used against the Bitcoin. Because it isn't as decentralized as it should. 5 Pools would have more than 51% of the total hash rate. It sounds not real, that they would do a 51% attack on BTC, but nobody says that it won't happen in the future.

    All those are points against the Bitcoin, but I would like to know what you think about.
    Some bitcoin investors are losing hope about bitcoin because of its price and many of them thinks that bitcoin is already dead but of course we have to stay positive. Bitcoin will not remain in this kind of hard situation , its going to be recovered soon. I think in next several years bitcoin is already adapt by some countries! Its shows some improvements and its a great news.
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