Bitcoin Forum

The price of a bitcoin has surpassed the price of one ounce gold for the first time ever, reaching more than 1290 per unit last Friday. Maybe u r starting to persuade family and friends around you to buy bitcoin, but have u ever thought of this question:
what will be the future of bitcoin?
could it be dethroned by other currencies or be banned? Or even worse, it night be controlled by Chinese investors.
what's on ur mind?

Read more about worst possibilities of bitcoin at:
http://news.8btc.com/is-it-a-blessing-or-a-curse-if-the-red-dragon-controls-the-future-of-bitcoin

Those things are just conspiracy theories. The only important thing is that bitcoin today has a good value and is increasing in value almost everyday. Countries banning bitcoin is no longer a threat to bitcoin since many countries are now thinking of accepting bitcoins like Switzerland does. The future of bitcoin is as clear as a sky. Nobody will control bitcoin even the red dragon you are talking about is an impossibility.

Bitcoin can not be banned for its technological infrastructure. The torrent system has been exist for years. They haven't managed to destroy the torrent system. Bitcoin is a system that works with P2P logic. So you do not have to worry.

Most sensible authorities have already realised that banning bitcoin will not destroy it. It cannot put the genie back in the bottle, it would just create a shadow global economy.

A little bit of contradiction in this statement. If bitcoin was not a good investment potential, he wouldn't suggest investing a small portion of capital. But yes, be prepared to lose it all if it becomes a failed experiment.

exactly, some say do not buy bitcoin, u will lose it all. But they themselves are buying it.

But that's meaningless. I mean, sure its neat, but 1 bitcoin isn't a physical quantity of a physical object. Why 1 BTC and not 10 BTC and why Ounce and not Gram?

This bitcoin to gold comparison is great for the news headline but really doesn't mean much.

This is to discourage competition.  Why would you encourage other people when you, yourself wanted to hoard lots of bitcoin because of its potential. 

Anyway the article is all about a man's prediction, it can wiegh much to them but I really do not care.  Remember he cannot tell the future just an assumption and it may or may not happen. If you can analyze what he said, it is only a possibility not a surity.

how come it's meaningless?  i believe it might be the beginning of the golden age of bitcoin.

Comparing market caps makes more sense. But then you realize how insignificant Bitcoin is compared to gold, and nothing compared to world economy.

Markets regularly move up and down by the value of bitcoins market cap, and no body blinks or panics, apart from the fool who is easily parted with his wealth.

It wwill definitely be a curse if China starts controlling bitcoin. They are already controlling the price and manipulating it by fake transaction and trade requests. But if the controlling interest moved to China, then they will try to create monopoly on it and rest of the world will suffer by the lack of bitcoin supply.

However, one good thing is that, due to the structure of bitcoin, it is almost impossible to control bitcoin by any country or any single organization. What they are doing is manipulation of price which is benefiting the traders across the world. 

But why would china control btc when they are planning on issuing their own digital currency?

Whilst most BTC is now being mined in china, was it not the case that most of the original bitcoins where mined outside of china? Chinese mining domination does not necessarily equate to distribution of BTC. They could be playing catch up after block halvings. Also, some chinese use BTC to get their wealth out of the country to evade capital control.

If chinese authorities where to start imposing regulation on chinese mining farms, would they not export their mining equipment to another low electricity cost location with good internet connectivity?

If China have made plans to control bitcoin, then they could have not made such regulations over bitcoin. Only based upon the regulations put forth and the PBOC's effort to grab profit from the bitcoin market place made the controlling power over bitcoin. Once again to retain the control is not possible.

Depending on china and fearing about red dragon is no more.Bitcoin price is not affected by any factors.Whichever country bans bitcoin, their people would be far away from main stream of development.

They say everything is possible in crypto so it could be dethrowned or it will still be on top. The only sure thing that will happen in the future is that crypto currencies are going to stay for as long as we are here using them.  It doesn't matter whether its BTC, Monero and ETH, its going to be crypto and were going to send BTC value over to that coin if things starts to become crazy.
More and more people and countries starts to recognize bitcoin though so the possibility of BTC to be on top forever is higher.

There are a lot of possibilities for the future, could bitcoin dethroned and replace by other alt coin? the answer is yes, it is depend on the users, if they prefer other coin then the altcoin will become number one, and China or anybody else will not be able to control bitcoin, if that case really happened then just move to other alt coin that is free from control, so there are so many unsure thing, but I believe bitcoin can become a great currency in the future

if u believe btc will be dethroned, then which digital currency is able to do that?

Oh there are several with improved features, but people support Bitcoin because it has the strongest network at the moment. This might change over night, if something happens when people lose their trust in the network. A coin is just as strong as the people supporting it.

Coins like ETH / Dash / LiteCoin is getting very popular and even things like Openledger. ^grrrrrr^