Bitcoin Forum

Hi there BTC community,

This is my first post here.
I'm a part-time researcher who's seeking for some guidance from the BTC community about research(able) topics.
My scientific interests are in a trans-disciplinary area: the social, political and economical impacts of technology in our society.
Therefore, cryptocurrencies, decentralization and fintech are some of the hot topics in my mind right now.
Especially, the impact BTC can have in the future of transparency, corruption, dismantle of status quo, democratic systems, etc.

So, in your opinion, what are the major potential changes BTC will operate in our societies in the next 10 to 20 years?
Which are the the impacts you see as worthy of being scientifically researched?

Thank you in advance for any input you might have to give me.

To my mind bitcoin can't have huge impact on the following things that you mentioned in your post. I suggest you to try more information about Blockchain because this is really the technology that can change a lot of things, for example implementation of it can add an extra layer of protection to land titles, gold movement and so on.
Ethereum smart contracts can be interesting for you too.

In our country people are using bitcoin as an alternative medium of exchange, (this only occurs to people who are aware of crypto) the convenience of crypto currency and having a local wallet in our country to conviniently change fiat-btc or vice-versa helped a lot of merchant transact with convenience and ease.

10 years time is a long span of time, the advancement of technolgy happens fast, so there is no doubt that cryto is really a game-changer and who knows maybe by that time crypto will be avceptrd by most merchants and accepted by the government as an alternative payment method like plastic money.

Money aside, I think one of the biggest impacts will be property titles.

When you're a porky first worlder it's easy to forget that in many parts of the world there's no straightforward and incorruptible way of establishing ownership over anything. That traps people in poverty or leaves them vulnerable to the corrupt or dishonest with no hope of any comebacks. If something is anchored to BTC all of that goes away in a puff of immutability.

You can still be a bent prick, but your lies will instantly be proven to be lies without any possibility of doubt.

I think 10-20 years from now bitcoin is a new currency. Amd bitcoin is already develop it's function that each of one will be benefited . On that era all merchant big or even small are already accepting bitcoin. Government and netizens on future will embrace bitcoin industry or even as a investment bitcoin will become legal and progressive.

A huge increase for bitcoin being used as a store-of-value against their local currency, but mostly in 3rd world countries; as evident on what's currently happening in countries that has ongoing economic crises right now like on Venezuela.

In my opinion, bitcoin is one of those things that people(mostly on economically healthy countries like the US) will mostly ignore and whereas people will think it's pointless, and will just realize the importance of it once shit hits the fan on their country.

I'm also quite confident that there's a good chance bitcoin would also be ready for daily transactions in the next decade, due to more and more proposed scaling solutions. *fingers crossed*

Bitcoin can have a great economic impact for countries with very high inflation rate. (see Venezuela).

In these situations,  their national currency loses much more value than Bitcoin did after a long bear period,  so it can be a good alternative.

Bitcoin has a big potential to changes the financing in all country because bitcoin can solve the traditional finance and with the blockchain technology, the process of recording the data will be more secure.
I guess that is worthy of researching by scientifically but it depends on which angle you want to study. You need to decide on what topic you want to know or research, so you don't go widely and out from the main thing you want to study.

Bitcoin's rule on countries with troubled economies is probably one of the best research topics for now. With the addition of Argentina on par with Venezuela having troubles with their own fiat currency, you will have a wider scope of study plus the fact that you can compare the two and establish a working hypothesis as to what can bitcoin actually do aside from being an asset for investment or a hedge against inflation.

10-20 years is a long time to go, it will just a pure speculation what will happen in that time. I'm not an expert and I wont speculate too much but I think that the biggest change will be something related to its adoption. It might have massive adoption compared to what we see today. Once it is adopted by more people, I think bitcoin will be less anonymous than now especially if most government regulate it as a legal payment method. Related to corruption and/or money laundering, there will be no more chances to so it once it is regulated by government because it will be easily tracked.

I think that in the next 10 to 20 years bitcoin will have a large and major adoption in our society and will be used to pay for local merchants in exchange for their services. As of today we still lack the merchant that accepts bitcoin as payment, but I believe that in the next 10 to 20 years this will not be an issue anymore.

Stop looking so far into the future people. Its better to think about tomorrow rather than focus on what will happen after decades. Currently, all the major operations like LN development, majority of the crypto community using segwit addresses etc need to be completed to drive adoption upwards with time.

No doubt Bitcoin has a huge economic and social impact on society  :o and it has to be! Bitcoin is a new age digital asset that is trying to compete with the traditional monetary system and its adoption rate is quite surprising. It is creating new doors for the researcher to think about the pros and cons of this new realm. ???

In my opinion the thing worthy of research is the development of the economy of the community, you can read this "How Bitcoin Change Your Life?", It is said that many people say their economies are increasing, so you can examine the economic development of society since Bitcoin exists today. This will be a pretty interesting scientific work if it's finished, tell your research here if it's finished

That would change absolutely nothing. To see some changes first you should make some actions. BTC doesn't really do anything, it is just a currency. Please show me an example when the existence of currency leads to some social / economical changes. That won't happen just because some crypto coin exists.
Bitcoin gave us blockchain. That technology may be used (and probably would be) and have a great potential, but it would be used without cryptocurrencies.

If politicians were by law required to publish their bitcoin addresses, people would know exactly how much money they are moving. Simillar to declaring assets, but on a realtime basis. Same thing for organizations. Granted, i believe people should also have the right for private addresses, this is simillar to bank accounts, is it your personal account, or your organization account? Organization addresses should be public for everyone to see and audit. Transparency levels like never seen before. Of course blockchain technology could be used for voting, direct democracy, etc.

The economy needs to leans towards Austrian economics (https://en.wikipedia.org/wiki/Austrian_economics). This is because Austrians (Mises et al (https://mises.org/)) had though of going back to gold as currency, in the idea that no government can artificially increase or decrease its value by making them artificially appear out of thin air. Bitcoin is, "digital gold", after all. With the current thinking, Chicago and sometimes Keynesian, things appear to "break" if suddenly people used deflationary money instead of inflationary. But that is only because the current economy was built upon non existent wealth, mainly fractional banking and debt, which is "fast" but also also quick to "pop", producing never ending bubbles and crashes. Austrians don't need bubbles, growth can occur slowly and safely by true accumulation of wealth, which only exists in a full reserve banking system. If you study some Austrian economics (http://), you will see how something like Bitcoin suddenly makes sense and fits in a new world economy. Yes i know some austrians don't exactly like Bitcoin itself (they originally proposed actual gold, after all), but Mises didn't have internet back then. How are we going to buy things with physical ingots online? It ill go into a virtual assets transaction again, and there is simply nothing better than the Bitcoin technology and its blockchain for that.

https://i.ytimg.com/vi/gzydNE3chsM/hqdefault.jpg
The Mises Theory of Money, Bitcoin, and Saving the Economy Explained in 10 Minutes (https://www.youtube.com/watch?v=gzydNE3chsM)

Well obviously everyone is gonna tell you that they think that bitcoin is going to become the main currency and all of that fiction, i personally think  that government will not allow such things, because with bitcoin becoming relevant it will make fiat irrelevant because it makes transaction anonymous and hard to track, economically and socially speaking i think that the private sector will have an increased percentage of bitcoin adoption as we see many and many more people getting into it and if the bitcoin can reach or surpass the same price point that it was able to get to in 2017, and maintain it it make it more popular and we probably like 40% of the people getting into it.

I think that an interesting topic to research would be the implementation of the ideals of the Austian School of economics by cryptocurrencies and its social impact. Cryptocurrencies free money naturally from any regulations and centralized control. It's the community deciding which changes to adopt or not and how much Bitcoin costs (demand/supply system is actually working here). It's a community-driven economics, and we need also need a community-driven political system. It would be interesting to see what would happen if the main principles on which Bitcoin is built were adopted for politics (no central ruler, decisions driven by demand, decentralization). This probably won't happen in 10 years from now, but the tendency towards a more active and decisive society will be visible.

Btc can have a huge economic impact in countries with hyperinflation.

For instance, the Bolivar (venezuelan currency) is hyperinflated. The people here tends to change the Bolivar for a stronger currency, most people change it for US dollars. Also there are a lot of people changing it for Bitcoin (or any other cryptocurrency) since even 0.000001btc has more value than 1 Bolivar.

You research topic can not be OK if blackchain does not appear on it, the key subject you outline cryptocurrency and economy are researchable subjects but you can never arrive at any good conclusion without having to deal with the subject blockchain because it the technology that the cryptocurrency and the decentralized system run on.

Talking about the impact of the BTC in societies will depend on each country and of course will depend on what country you are in. So far, countries may have a different point of view about this cryptocurrency and some still ban.
However, for the societies in 10-20 years later, everything may happen.
Today, Bitcoin is mostly used as one of the digital assets for most societies, to be traded or invested in order to gain profits and prospects.
However, for the future, I also think about the way of the financial system, can Bitcoin become one of the payment methods to be used in most countries? It probably becomes one of the issues that can be raised.
However, of course, it will depend again on how the people in the societies and the government will view this point.
If the social impacts, many people think that holding Bitcoin is only for raising money and becoming rich, however, Bitcoin is more than it. It is about technology and currency use

I am one who believes that besides the obvious economic advantages that will come we will also see some technological advancements that a lot of us won't see coming and that will be so important for mankind.

Even those who us who are thinking about it can't imagine the extent of the inventions that will be possible in 10 to 20 years if enough investment and capable brains work in it.

It is too early to have any conclusion on socio-economical impact of BTC on society. BTC give economical liberacy but on other hand it give a free hand to corruption and illegal activities. Good things do come with its pro and cons.

When you talk about currency, you don't use the cap. This is because you want to keep separate the bolivar (https://en.wikipedia.org/wiki/Venezuelan_bol%C3%ADvar) (currency) with the Bolivar family.

You should check this page to know the direct value of the current iteration of bolivar (which is the 3rd, after losing 8 zeroes in the past decade): https://www.bitcoinvenezuela.com/

In there you can see that currently 1 bolivar means 4 satoshis. By next month this will probably be 2 satoshis or 1. The largest Venezuelan bank note is 500, just 1841 satoshis. Venezuelan banks often limit the amount of cash you may withdraw per day, last i tried it was 6000, so 22091 satoshis.

https://1.bp.blogspot.com/-cVeF1Dtc4rs/XBJLxNl9Z-I/AAAAAAAAA4c/0sFiZlPFTboVkLfbX4oF9ggEuGg8SA68gCLcBGAs/s640/Venezuela%2BCurrency%2B500%2BBolivares%2BSoberanos%2Bbanknote%2B2018%2BSimon%2BBolivar.jpg = 1841 satoshis.
It will only get worse, inflation only speeds faster and faster every day.

In a few weeks we will have a 1 bolivar = 1 satoshi parity, it will be very short lived thought.