Bitcoin Forum

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2140 — Nobody uses fiat money anymore

After more than a hundred years Bitcoin rules the universal monetary system. All the planets allied with Earth use bitcoin to send fund back and forth among each other at the speed of light via the Lightning Solar Powered Network.

Add that to the list, please.  ;)

In the first two quarters of this year,we were expecting Bitcoin to be massively adopted by institutional investors and big corporations.Then Elon Musk started trolling BTC,the Bitcoin price crashed and all the institutional investors,that were showing interest in BTC simply stopped expressing interest for BTC. ;D
I know that Bitcoin adoption won't be a steady and predictable process.There will be huge obstacles and there will be times,when many companies and people will dump Bitcoin.
 

Great so I'm part of the nerdy drug dealer stereotype apparently as it was some time around 2012-2013 I would have actually taken notice of Bitcoin, and then finally signing up here in early 2013.

We've all been through a lot with Bitcoin, and it is quite surprising if you take a moment, and look back at what effect it has had on the world. People often talk about Bitcoin being unsuccessful as a mainstream currency, but I would argue that its already achieved what it was setup to do. Prove to people that you don't need to rely on a third party to manage your funds, and you can dictate your own freedom.

I understand this was a joke, but my immersion, and wishful thinking got ruined when you hinted at other planets being colonized by year 2140. Otherwise, I'm with you ;)

Too bad that I only know about bitcoin back in 2013 but never got curious enough to do some research about it although I don't have much technical knowledge back then and I don't have money to buy my own bitcoin back then and I was still in 8th grade and playing games is the biggest priority back then. I think that the image accompanying the post is a pretty good one because it basically tells how stupid people are for doubting how bitcoin works and how it can change their lives.

It's not trolling, it's manipulation, you make his actions look like it's to be taken lightly which shouldn't be. Also, we just have to wait for this so called adoption because it will come in due time, think of this time as a slack for the people to get in while it's not yet too late because the prices will only go up much more than just a 100k and will only have more financial institutions adopt bitcoin.

although for now bitcoin has not become a mainstream currency, but at least bitcoin has reached its peak, and the person who issued bitcoin, now must be smiling, and happy, because the bitcoin he created is not in vain, and can benefit others, this is a very extraordinary achievement, built from scratch, there are certainly many who laugh, no one cares, some even say it's a scam, but the evidence is real, until now its existence can still be enjoyed by all users..

I guess I was a scammer  >:(

joking apart, It's great to see how bitcoin started from nobody uses it, to countries making it as a legal tender in their country. that being said the journey is still far from over. there will always be ups and downs(no pun intended) that will challenge Bitcoin and I hope bitcoin will prevail through it all.

It only took 66 years between the first powered human flight to landing humans on the moon. It's not unreasonable to think we'll have a colony on Mars in the next 120 years.

It does pose an interesting thought experiment about how bitcoin adoption could work for a multi-planetary society. Communicating at the speed of light between Earth and Mars takes between 3 and 22 minutes depending on the relative positions within their orbits. Mining on Mars would be impossible, as that size of deficit would usually mean that any blocks found by Mars miners would already be rejected by the time they reached Earth. Even the highest paying transaction could take well over an hour to be broadcast to Earth, mined, and then the new block broadcast back to Mars.

There's no real reason Lightning wouldn't work in its current form, just with delays to channel opening and closing as described above. Or maybe we end up with a separate Mars blockchain, with atomic swaps or similar between the two chains.

BTC is a great invention which use technology as a solution for financial system issues. Everything in this world has their own milestone and same like BTC. For the beggining until now, BTC has grown too. I know BTC since I was a student of university then my friend introduced me BTC as a new investment choice, but I still unbelieve with BTC. Because I dont understand about investment and I dont know anything about them. In my head, investment is saving money in the bank account or saving gold or buy a house. I dont understand how coin who invisible can make u become a rich, but we can see know how great BTC is.

Actually, at the end of 2013, sites like Baidu started to adopt Bitcoin for a while so that gave rise to it's credibility.

The issues that you've highlighted, misconception of Bitcoin is largely due to the negative sentiments surrounding it as well as the userbase amplified by its properties. The lack of motivation to change the status quo results in the majority of the population being unwilling to research and understand Bitcoin. If you were to see the bigger picture, the investment into Bitcoin by certain companies could potentially carry various agenda. For the countries, perhaps a political one.

Do you consider people investing by purchasing Bitcoin, users or investors? They are very different terms and for the recent years the usage has largely stagnated due to increased fees and whatnot. It isn't a good sign for any "mass adoption".

I disagree. "Past performance is not indicative of future trends". There are very specific reasons why Bitcoin became more well-known, and that if you're interested in Bitcoin at all, then you probably would've considered adopting it already. Governments are not letting go of their stranglehold on the currency with their fiat and it is simply too difficult to push those people to adopt Bitcoin, especially not risk-takers. Mass adoption is not inevitable, at least not with the current network and/or the various issues that has plagued Bitcoin throughout. There is bound to be a point where Bitcoin's adoption will plateau, whether you consider that "mass adoption" depends on your threshold.

Great topic and after reading the topic, I invite you go listen to the song: Ode to Satoshi (https://www.youtube.com/watch?v=zEQ2nPSL5-0) and another song Not This Time (The Bitcoin Obituaries Song) (https://www.youtube.com/watch?v=-hlN2nel5HI). It looks perfect for the market now.

Some infographics

Glad to know not only Bitcoin has been improved, but also authorities have now the capability to seize Bitcoin that come from fraud, each month or years we have heard the news that there are criminals who have been caught by the authorities and there's more, a third-party service that can able to trace and track down Bitcoin transactions to those fraudsters and they even think that using Bitcoin is fully anonymous, they're wrong.

I witnessed from 2017 and until now Bitcoin has a great improvement, even though there's a struggle when it comes to mass adoption just because the governments wanted a regulation towards Bitcoin but it proves that this isn't a barrier at all to have mass adoption and becomes the price hit into a new all-time high.

Sad to say, I'm not prepared yet. :(

Again, this is pure speculation. Bitcoin's reach is mostly bounded by the ability of the people to use it, given the high penetration of internet and internet connected devices, it wouldn't be a stretch to assume that there isn't loads of growth to be made in that aspect. I mentioned in my previous post about the difference between adoption and investments; adopting entails actively using it as a currency to serve its purpose. I would argue that it doesn't really matter until bigger economies start to endorse and accept Bitcoin. Based on the resistance by the various government, I'm not so sure if it'll happen soon. Firms are largely also investing in Bitcoin in hopes for it to rise, which defeats the purpose of Bitcoin as a currency and making it a speculative asset as well.

In 10 years, anything can happen. Will Bitcoin finally be able to scale, with little conflict? Will the government or firms still be willing to endorse Bitcoin once the FOMO blows over? It's completely uncertain; everyone saw the true colors of Tesla after a couple of weeks, perhaps everything that has happened so far is a facade for a different agenda. It'll be a sweeping statement to assume that Bitcoin will rise in the long term; it can very well be but there are obviously various shortcomings of Bitcoin that are either innate or difficult to solve.


The price is not indicative of the adoption rates.

I believe we will likely have a colony on mars, but its unlikely to be a fully functional place to live. It'll likely be experts placed there, so that they can effectively build infrastructure, and colonize the planet. Its unlikely to have a currency, and will likely be employees of various different space companies. However, the reply did imply that there would be multiple planets using Bitcoin, and at the moment its only really Mars that we have any hope for, and we don't know if we'll be able to effectively create a sustainable living there, without help from those back at Earth. Too early to tell, but even if we could, I don't see massive amounts of development in 120 years.
A separate Mars blockchain would probably be the best bet. Although, like I said I can't see the development of mars requiring a currency for a while. Depending on how successful we are at colonizing the planet, it would likely take many years for there to be an actual need.

There's some obvious shortcomings that people tend to ignore. Now, I'm not saying that there's another cryptocurrency that does it better, not currently. However, I have said this before, but I believe Bitcoin isn't the ultimate solution to our problems, but rather the building block; the foundation. I'm not sure if Bitcoin will be able to solve its issues within its limitations, reaching some sort of consensus, and succeeding as a currency.

Also while I agree with ranochigo that nothing is for certain, the labeling within your little timeline is mainly how the media portrayed it back then, rather than having any substance behind it. There was plenty of non nerdy characters around dabbling in Bitcoin back in the day too.

a simple illustration, but you have provided a very complete picture where I, a beginner, can understand it simply. I will save your thread as a means of explaining to all who are close to me and explain based on what I understand from your thread.
that way I have an easy alternative to explain how the history of bitcoin is very briefly.

I am more than a little surprised to see more and more users of this forum, and senior users at that, state an opinion along these lines. Governments, authorities, law enforcement, or any third party having the power to confiscate, seize, reverse, freeze, or otherwise censor some addresses or transactions is absolutely not a good thing.

The whole point of bitcoin is that there are no third parties which can control your coins or censor your transactions. As soon as one third party can seize bitcoin from one user, even if that is a "trusted" authority and the user is a known criminal, then you now have the possibility of malicious third parties seizing coins from innocent users such as you, and bitcoin becomes no better than fiat. Unscrupulous users are the price you pay for censorship resistance, for encryption, for private communications, for Tor, for any piece of technology. If you allow discrimination against some users, then you allow discrimination against any user. Do you really trust all the governments of the world, and all future governments of the world, to treat you fairly?

FTFY

Bitcoins inception has been largely lost by the majority of its users. It's treated more like an investment opportunity rather than something that gave freedom to the users to stop relying on third parties. This is probably because in the minds of the people supporting governments gaining more power, likely see that as an opportunity to increase the price of Bitcoin, and to legitimize its use to public opinion, ignoring the actual reason Bitcoin was created in the first place.

Its annoying, but this is the attitude that I'm seeing from all walks of life. 

I've never used the term colonized in fact  ;) I don't buy that shit that we'll colonize Mars and such.
It's worse than that if you wish, I said we're gonna ally with unknown planets which we might don't know now.
F*** Mars :D
Anyway, yes, it was a joke, but who knows what's really gonna happen, that's so far away.

You forgot that mathematicians are using bitcoin together with the computer nerds back then because they were fascinated by the cryptography aspect of bitcoin at that time. I don't necessarily agree with only large corporations use bitcoin because there isn't a lot of people in that are using it maybe the investment companies should be the one but they aren't the biggest corporations out there.

Which is fine, I guess. Such is the nature of an open source, trustless, peer to peer cryptocurrency, that if someone wants to use it only for trading and making more fiat, then they are absolutely free to do so. I'd never dream of telling someone not to do that (although I would point out that only by people actually using bitcoin as a currency does it actually have any value at all).

It does annoy me greatly though when such users advocate for more regulations, more government intervention, more centralization, or even the ability to censor or reverse transactions. You have no right to try to change the very nature of bitcoin simply for your own profits. It is an incredibly selfish position to hold.

As a newcomer, I don't have much knowledge, but I want to answer you with a famous saying: I don't agree with what you say, but I respect your right to express your views. Just like the K-line chart, it is tortuous, and the way forward is certainly full of all kinds of unknowns. However, the 12 years of development has fully proved that bitcoin is following the trend, not going retrograde. It is not just our good wish. Since bitcoin was first used to buy pizza, it has taken a historic step, and more and more sovereign countries will use bitcoin.

I don't think that you can proclaim that small countries already use Bitcoin, El Salvador just recently adopted it, and the polls show that their population isn't very enthusiastic about it. You can say that a country uses Bitcoin when a significant portion of its population is transacting with Bitcoin on a daily basis. We're miles away from it even in El Salvador.

I would give thumbs up to this post and here if you draw a char for it you will see how the world is accepting bitcoin every day and the progress is going on. None knows about the next few years what according to the information provided by OP I can strongly say bitcoin would be very much famous and this popularity of bitcoin and also the limited supplying the other hand will make it supper rare and super expensive. However, I won't be surprised I see more governments are trying to ban bitcoin just like what China did because in the way of adoption will be some hard times, definitely.

I don't think you are joking. I have watched some psychic shows. There is a person who has passed on the earth a lot of extraterrestrial civilization, including the information and materials of aliens disclosed by the US government. I really think Bitcoin will be the currency of interstellar civilization trade in the future. This view is very interesting, it's like Bitcoin, just like Satoshi Nakamoto is still a mystery to this day

well bitcoin and ethereum are the only two pairs crypto i would alwayse keep in my portafolio you never know what will be the value in 10 years time,.