Bitcoin Forum

We've had a million predictions of doom, all the bad things that can happen if Bitcoin and Cryptocurrencies spread. We have also had an unending stream of "Bitcoin is dead" and "Bitcoin won't last another year" predictions.

What I would like is to try to imagine a best case scenario of how the world could change for the better if Bitcoin became as popular as e-mail or social networks and billions of people were using it.

So... what is your best case scenario for 2025?

I am interested to know also.
Even more, what if bitcoin would be the dominant currency in the future?
How would this work with taking loans for example? Would there be negative interest rates?
What would the investment climate look like?

One thing I'd expect is further globalization. transfer fees would be (near to) nonexistent even internationally and moving big amounts of money would be easy. there could still be banks, people will still need loans and some would prefer to store their BTC there if they don't trust themselves for security.

Beautiful, since the world looks better when you are rich, and we will all be rich.
As how it will actualyl look, well pretty much the same but we'll see lots of automated jobs, most jobs will be obsolete, some new ones will arise, and then the guys that held Bitcoin for 10 years will be hated because they'll be retired, so my advice is: never say you own many Bitcoins.

Im thinking the knock on effects of bitcoin and blockchain technology are huge.  Look at the social change the internet has caused by changing how we transfer information...  Im hoping bitcoin tech can spread into politics and voting systems, if we can get rid of corruption at the core the world will be very different.

People will probably use their Visa or mastercards to swap for their bitcoins .Moreover I think there will be no actual banks, the government has to implement Virtual Banks for Cryptocurrencies with highest security possible .

I would want to see micro payments be implemented in every social media platform out there, not as a external applications, but built into it. You like what someone says, and you tip them... be it in facebook /

Twitter / Online games / Dating website ..... you name it. There should be no need to use ChangeTip or any other 3rd party.

You should not even think about payment for services... it should be automated, with a click of a single button... {everywhere.. not just selected shops} The poor people on this planet, should have free internet

access and be doing small tasks for payment on a global scale with Bitcoin. {No more PayPal or banks or WU with excessive fees} That is my view of a perfect Bitcoin world. 

It will look like Bitcoin everywhere,
In the ads, mostly in the digital world but also in the street, billboards etc.
I would be proud that i learned about bitcoin in its early stage, it would be good :)

I would be such a boss amongst friends as an early adopter.

OK, let me give it a shot....

1. Banks go the way of Newspapers.
They won't disappear, but they change focus to value-added services like lending, intermediation and lose their current massive scale. Many disappear or break up, the most flexible go online for everything and start going after clients in a global way. In 2025 surviving banks are more like those newspapers that have survived the blogging revolution: different business model, focus on quality and brand-recognition and permanently aware that there are a million alternatives out there ready to eat their lunch if they don't treat clients well.

2. Central banks go the way of the Postal Service.
They will still exist, still think that they matter and still perform some functions... but their influence will be hugely reduced. They will be almost universally ignored... just the same way as central bank presidents in dollarised Latin American countries just focus on supervision and fraud prevention and have little to say on monetary policy. In 2025 they will still be able to move interest rates and do QE... but the ease of capital flight to quality and yield will mean that they cannot use these tools as freely as they do now for fear of seeing an immediate reaction in the FX/Crypto markets which negates their intended effects.

3.Taxes will trend to fee-for-services and real estate.
As capital becomes more mobile and it becomes ever easier to escape tax-heavy jurisdictions, governments will tend to tax more heavily assets that cannot be moved (real estate) and also services that they provide (toll-road model). Tax competition will increase... countries and cities will try to become attractive for investors and residents through lower taxes and more choice. The world will look a bit more like Swizerland where taxes are mostly collected and spent at the Canton (regional) level.

4. Africa will become much richer.
As millions of people can suddenly interact directly and get paid by employers in the developed world or receive remittances from their families at zero cost and without their local governments easily confiscating them. Anyone with technical and language skills in Africa who can get online will suddenly be able to compete with US and European workers for jobs and wages. In 2025 people living in extreme poverty will be less than 5% of the world population.

5. More Peace.
The increased difficulty in collecting taxes or printing money for unpopular causes like war will mean that wars last less and are more limited in the harm that they do. We will see tax revolts as a form of anti-war protest, with millions of people refusing to pay VAT or income tax until the government listens to their cries for peace, and rulers will be unable to do anything to persecute such a massive passive, peaceful resistance movement.

6. Technological Renaissance.
As capital accumulation in the technology sector grows and is less stifled by taxes, regulations and monopolies... investment in R&D grows and the rate of technological advance increases. Technological and economic growth see exponential rates last seen in the Industrial Revolution or the Renaissance.

there will be tax evasion and unregulated activity all over the world, maybe is this the reason why gov don't want bitcoin to grow, by spreadig false info from time to time

there would be random rich guy, that were poor before, wealth would still be fucking unbalanced

There will be fewer boom and bursts. Economy will grow more steadily as money cannot be created easily from thin air.

The best case scenario would be if you walk out the street and met anybody, they don't give you the weird look when you mention the name bitcoin. I assume they would already know about decentralization, blockchain, see the overall benefit of it instead of associating bitcoin with some illegal currency used for illicit activities.

i really think that the reason about why gov don't want bitcoin to grow is so simply, because they don't have the control, until they find the way to take the control, they will stay away from bitcoin.

btw about the main question, in general, there will new rich people yes, but maybe with better soul  than the current one...

There would be lots of regulation over BTC and would be hard for the common user use BTC and stay under the law.

The banks would heavily use it and save money in the money transfer, but not much of the savings would be repassed to end consumers.

So I think bank's profits would increase, but not end user savings

first of all everybody is going to want to get on up on the bitcoin train. banks are going to change their paper money to bitcoin and keep people's savings as bitcoin.

master card and other payment processors are going to want in so they will add bitcoin as an option at first but then switch to it completely. as you can see a lot of bitcoin credit cards as of today doing this.

but most important of all is that we are going to be the happiest of all people because we were here first before big companies could get their hands on it.

If it succeeds, which means it becomes a global payment method accepted everywhere we'll all be rich so the world should be a very happy place for us, people who have at least a couple coins.

the first thing that matters to me if bitcoin really succeeds is that there will be new tech related millionaires and even billionaires.

flix, excellent thinking.  I'd love to get your further thoughts about how the power-hungry politicians and regulators will find new ways to maintain their control.  I think you are onto something with the physical asset taxation, but I think there will be new options around transaction taxation that might be imposed on the bitcoin network.  Your thoughts?

I definitely don't expect them to give up their control easily. Right now they still don't see Bitcoin as a threat... but when Bitcoin gets to 50 or 100 million users they will definitely try to take over. The reason that attracts me most to Bitcoin, as opposed to other alternatives, is that it will be very difficult for them to do so. Even if they succeed in this... it is now so easy to fork Bitcoin or create altcoins that they will be chasing a moving target.

Also a tx tax (unless it is minimal) will make the networks that have it less competitive than those that don't, so users would mostly choose the free fork vs the govt. fork, even in the absence of other (eg: privacy) concerns.

1. Bitcoin on Mars.
"NASA is developing the capabilities needed to send humans to an asteroid by 2025 and Mars in the 2030s." One of the crew members takes a paper wallet with him (or her) to keep as an investment. Takes the idea of cold storage to a whole new level.

2. Bitcoin-Only Robots.
Autonomous Vehicles get charged up and repaired at Smart Shops (not that kind!) and pay with programmable money. Delivery drones. Smart vending machines. Natively speak Bitcoin.

An important addition to this point:

Banks are forced by client demand to use multi-sig deposits, so that they no longer have the power to confiscate or block deposits in current accounts. People would once again be owners of the money that they have in their current account, instead of creditors of the bank.  (Term deposits would still be bank liabilities... but smart contracts would probably put limits on what banks can do with them).

All people holding Bitcoin now will be very wealthy. Many will trade goods and products from their own homes as they can move and receive money all over around the world. Content creators will be more rewarded from their work as their readers/listeners/viewers will pay them more directly via micropayments (tip buttons would be easy to use and everyone would use them), without the need of ads...

Does it mean for current account, the bank cannot use your bitcoin without your permission? That is bad for banks. They have to charge for accepting deposits.

Charging for deposits is what banks used to do before they all went fractional reserve. A real deposit contract is like a car-park contract, not a loan. Term deposits on the other hand would still be remunerated.

In fact there are a couple of full reserve banks in existence right now (Peter Schiff's Europacbank for example), and they charge monthly fees for storing your money and keeping it safe, just like a car-park operator would do.

Why a paper wallet? Mars is only 10 light minutes away (on average). He could probably still send transactions to the network and get them into the next 1-2 blocks...

I dont think well all be rich, from the surveys I have seen many don't have over 5 if even that. Bitcoin would have to be greater than 100k at that point to make everyone rich imo. I guess its a possibility but I doubt it will be that high in just 10 years. You would need just way too much money and the state of mind would have to completely change to view bitcoin in the same light as gold in terms of a store of value.

- The banks that survive will become software companies.

- Most central banks will be not have the courage to raise interest rates to heal the excesses in debt in a deflationary environment. Fiat currencies will progressively devalue to the point where most people won't trust them. Central bankers will try to keep their jobs by switching to a watered-down gold standard. Most people would rather choose Bitcoin.

- Less friction in markets will reduce poverty in most countries. However, this will take longer than most expect because first there needs to be a painful deleveraging of the excesses of the debt bubble.

- Bureaucracy will be greatly reduced. Less lawyers, less notaries, less registrars.

- Insurance companies will be replaced by betting algorithms.

- Lottery revenue by the state will be zero.

- Real estate and land will be on the radar of the taxman. It wouldn't surprise me if we get to the point where the value of rent+taxes=mortgage payments+maintenance. This will seriously devalue the price of properties, to the point where governments will maintain themselves in power mostly on this type of revenue. First we will see a shift in public consciousness, driven especially by the governments themselves, to bring a house for a low cost to every citizen, which will make the path much easier for subtle and slowly-but-surely real estate confiscation.

And so on...

That's the point. Because you would always have that choice of being your own bank, the only way for banks to attract customers and deposits would be to offer real value-added services. Those that don't will not survive.

I'm pretty sure that we can send data at the speed of light now. In fact the Roman Empire used mirrors for signalling a while ago... although probably not to Mars ;)

if bitcoin succeeds in what means ? in my view if bitcoin succeeds with the problem of blockchain problem then i am seeing that bitcoin we take over the whole new world. and the life will become more clear, purchasing through bitcoin, doing business in all field, and more like this.

The only reason banks are scared of bitcoin is because they would lose control. They wouldn't be able to make billions out of fees, fines, interest etc.

Fuck the banks.

They would lose control. But if they adopt/adept, they will survive and provide a service, no extreme profit though.

1. The price of 1BTC will be around $2k.

2. Almost everyone will have two-way Satellite Internet and thus BTC will be a helpful thing in any location in whatever the circumstances.

3. Fiat money will be so unreliable in some countries that people there will use mostly Bitcoins.

A Bitcoin seastead demonstrates how a Bitcoin economy can work inspiring small communities around the world to switch over to Bitcoin as their main currency using their fiat currency for things like taxes and government payments which they obtain by using localbitcoins only when needed.

Several countries economies fail with their banking systems taking peoples money to pay for their debts. The first few countries suffer greatly because of this but then one country fails but has enough of a bitcoin economy that the government is the main thing to fail with several big businesses but the rest of the population moves on.

After seeing that a country can fail and still continue when most of its citizens use bitcoins, other countries citizens will start switching to Bitcoin and actively vote to have their nation go bankrupt for an economic reboot.

Price of bitcoin compared to us dollar 25 K. Bitcoin accepted and regulated in at least 100 countries of the world which must be the most developed and important. Use of computer and the internet by most of the peoples. This will help the spread and the use of it. Existence of paper bitcoin which will make it accessible for all those which don't want or cannot use the computer for their reasons and for those which want to touch it. This form of it will made possible the use of it for the everyday needs by everyone.

Bitcoin will be a mainstream, more users will use it, although i'm not really sure if the govs will make it legal completely.

More value, less supply and more demand.

Blockchain itself will be become a solution, because this will kill all corruption.

If Bitcoin becomes mainstream, then the collapse of society as we know it is closer than ever.

Bitcoin (or very-fast-unregulated transactions) opens the door for a very fast velocity economy. In the Internet/Globalized/Capitalist world we live in, this means the concentration of wealth in the hands of a very small percentage of society.

We'll then talk about the 1% of the 1%.

Current banks will try to leverage their current positions to take/compete with Bitcoin.

Some early-early/late-early will become ultra/very rich.

Govs will continue to use "legal" force to tax your ass. Bitcoin or Buttcoin or USD.

The remaining of society will remain at this shit it currently is right now.

Things will become more efficient/secure. Some people in poor countries will have more leverage against their govs; destabilizing these places even more. And driving them into more poverty and chaos.

I'm long on bitcoin.

Federal reserve will be scrambling, banks will somehow adapt, and i'll be telling "I told you so" to my mother.

i picture a world where people carry a device just to be used as a bitcoin wallet. and each btc is worth alot so people mainly only transact bits

if the problem of blockchain is solved, and 80% of the people knows about bitcoin then i think we can see a new world with new technology and where bitcoin is the mainstream of life.

This thread title reminded me of a dream I had once, where I was frozen in time basically like Fry is in Futurama.

When i awoke they started talking to me and asking who I was and what the last thing was I remembered, after a while I told them that I used to have a bitcoin wallet and that I don't actually remember how much I had left there but if any of them knew what it even was. It had been 20 years since I was frozen and the year was 2034. The nurse looked at me and said, oh you mean Bits? Yea that's the international currency used in pretty much everything nowadays.

They brought me a computer and I checked my email so I could get my login info to my wallet that I used to have on blockchain.info and after syncing it on a fresh wallet for some time (the wallet became 37 Petabytes big I remember ;D) it synced successfully and added some more transactions from a mining site I had been mining on for atleast 1 more year after being frozen. My final balance was 5.8 btc and when the nurse looked at it, the expression on her face was priceless as she stuttering explained to me that with 5,800 bits I could literally buy a hotel with it.

Was a fun dream. :D

bank in this case, would join for sure, and add more taxes. tot ake at least a portion of the benefit of a fully adopted bitcoin

they can offer sort of exchange-like that operate with soem fee, but give you 100% security and cover your funds, like coinbase, but maybe more friendly and better fees

Blockchain problem is the main issue of bitcoin at the moment. We need to reach consensus asap.

I will be on an island and quite rich.  8)
The Forbes billionaires list will see quite a bit of churn, though I still don't expect Satoshi to reveal himself.

Distributed, autonomous corporations. There's not much more to be said other than that.

Just like how the internet gave rise to dozens of brand new industries that we couldn't even imagine pre-internet, dozens of new industries will be created due to the plethora of innovations that the blockchain makes possible

It's hard to imagine bitcoin in 10 years, even the services and business around it changed a lot in few years it exists, so having it as a primary way of
payment would with no doubt place it in 6 to 7 figure price range.
For me, that would be a dream come true, i would be sippin pina coladas all day long and not worry of none the things i ave on my mind today.

I think in almost 80-90% of total countries BITCOIN will be preferred more than the local currency if BITCOIN countinues gaining popularity like current and succeeds till 10 years...

Everything is possible to fraud,for example to create large btc derivatives market and launch bitcoin printing
It is relativelly easy to do with bitcoin
But i hope it will not happen and finally will be not only btc,ltc,but  will be few globally used digital currencys
But if world will depends on bitcoin not on us that will be  our last days

The nerds will rule the world and everybody else will be our slaves  8).

As long as the retail banking is separated from investment banking, and the capital ratio rule is observed, we are pretty safe with bitcoin banking.

It will be more productive.
All the people will have a lot of money because of the success of bitcoins.

Seems a lot of people are expecting global scale tax evasion.

Couldn't this be simply solved by changing the tax model?

Get rid of income tax / tax on your savings and just increase the tax on goods. Seems simple to me and saves a lot of work.

They cannot tax on saving if you own bitcoin in your own wallet.

There will be consumption (goods and service) tax and property tax.

I guess this is what we here are all dreaming of.But I'm not sure if this can be achieved in just 10 years.To be honest I doubt that although I keep on believing this to happen one day.Hopefully I will still be alive then. :D

in the future if bitcoin became adopted everyone i'm sure they will put a tax even on your cold storage, you will be forced to declare your bitcoim

they can do this when they see you spend them, they would think that you have more, and at that point you must declare everything, exchanged for fiat ro not

I haven't read any other thing more strange than this. Connections between things away one from another, fatalism at its highest level, imagination and reality mixed together, shortcut reasonings about big things who need maybe books to be explained, uniqueness of ways when there are to many others that can be verified (even with more probability), calculations and results which need the computers of NASA to be made and books with numerous data to enter on those....

Maybe I see blue today....

I was just wondering how would the government be able to track your transactions up to the very last bit? They can force us to declare everything, but that doesn't mean that they will be able to watch every single thing we do with our bitcoins.

So... what is your best case scenario for 2025?

my best scenarion is, bitcoin accpeted everywhere,every country and a big corporation. so i can bought food with bitcoin everywhere in my country.

Accepted and properly regulated, at least for my country. Here, they don't ask what bitcoin is, and what's great is that they don't consider it as a capital gain which is taxable, that's why if you have a great profit in bitcoin, you will keep all of it without paying any tax unlike other countries. :)

thats nice dream.. but i dont see any advantage about bitcoin on mars.

the price will be around $100k when Bitcoin is accepted universally. That could happen in 10-20 years.

I would bring all my friends who never heard about bitcoin,
Or at least that will hear at 2025, and tell them that i had my first bitcoin hold for a long time.
Maybe the price will change a lot since there will be few halving periods.

More flaws in the bitcoin network will be found.
The price will reduce to $2 meaning I can buy many bitcoins for a lower value!
The bugs will be fixed and the bitcoin price will increase to $5000000, where I will sell them!
There will be a reward for finding problems in the network as this willbe required for an improved system!

It will probably look the same.  Might have more people involved probably wouldn't have forums like this with advertising and all that.  I think it will be interesting to see what happens in 10 years though.

I think that after 10 years, if Bitcoin cryptocurrency success as we expect and wish, it will be easily the first used currency worldwide , its price will be stable and the banking systems will be "forced" to include payments through Bitcoin

In ten years lot of things will change, technology grows very fast. If bitcoin succeeds we will have no banks, and could be a cashless society. A lot of new systems could be based on blockchain and the ones that now have bitcoins will be very happy (If they didn't sold it before). Prices of bitcoin on a 10 years succes could be high.

Well, considering that there are some one-way-only missions to mars where people live on mars for life.. if they start breeding and having kids with each other, there will be a point where they will need a currency. Well, if that point arrives where a lot of people live there, we already got that currency.

I think the first scenario ( Bitcoin will be commonly used in almost every country) is more realistic nowadays, because as we can notice bitcoin's price is increasing daily and also it's growing and used more and more than the previous months and years

Yes, bitcoin after ten years is some what complicated to predict for me. Because supply of bitcoin mining reward would be less than 5BTC per block. So, we can expect some 50 or even 100 fold price raise from what we have today.

10 years down the road. There will probably be it's successor.
This time frame is too far ahead to speculate. I do hope bitcoin will live on.

Ofcourse world transaction traffic using bitcoin will increased.
Bitcoin's value also increased and increased transaction efficiency. More transaction will gone faster than before also bitcoin will be the great investation over gold

I doubt any doom and that kind of stuff will occur in 10 years if bitcoin succeeds. I think that the world would be much more developed as people would be rich. The world would be a better place as people could freely spend their money. There would be no people begging as people would just give them money. There would be hovering cars....JOKES, or maybe. But the world would be a lot different compared to now.

People will donate on twitch using bitcoins.
People will get their weekly grocery and marketing using bitcoins.
And something like these.
I don't think even in good situation it could hit around $10.000.

People will be more selfish, i doubt they will give donation.
Because the price will also being increased by that time.
If after 10years bitcoin succeeds the price will not be stucked there but will be continue increasing more.

Gamer spotted. ;)

If in case bitcoin becomes globally accepted in the future, money transfer services wouldn't be a thing as bitcoin will be largely used in transferring value in different parts of the world. In order for it to happen, I think fiat should first crash for bitcoin to take over as the world's reserve currency. Give it 20+ years and we'll see if what I said is true.

Haha yes Bitcoin and anf gaming will have huge potential.
Imagine you have 100k followers/subscribers and people will be support with sending you a few bits (like changetip).Micropayments on a large scale can make you a really good life. Bloggers, streamers, vloggers will porfit from it.A completely new industrie will be born.
Just think about what streamium can offer.Endless possibilities!

why would fiat's have to crash for it ? The number of users will increase and it could have more value if a large amount of fiat is thrown into bitcoin.
No big difference and nothing now can be judged about govt...s

I want to know more also, seeing bitcoin will be our payment tool..

Exactly! Fiat doesn't need to crash people for us to make it and be successful. Let's stop with all of this nonsense. Governments will never give complete control over the money, that's insane even to think about. There will be wars before this really happens.

Bitcoin can be very successful even if it coexist with current financial systems.

I was just thinking, if fiat crashes, how will people be able to buy bitcoin? I mean, they would have no money and probably can't withdraw from banks (like in Greece).
In fact, I think the bitcoin price could go down because people would sell it for fiat. But then again, people might only accept bitcoin... I guess it depends how popular bitcoin is before the crash happens.

Bitcoins are always known for their simplicity and ease. Here's my prediction about it in the next 10 Years, if it succeeds.
(1) Cash will be getting vanished-- People will use cash very less or not at all. We'll progress towards being cashless.
(2) Bitcoins will be accepted globally-- So you'll not have to convert your currency when visiting any other country.
(3) More secure and portable-- Btc is more secure and portable than cash, so world will have stronger security.