I have been having some critical thinking lately on what the future of Bitcoin and the Blockchain technology will be. What will be the fate of Bitcoin should in case the founders of this great digital currency and assets die. It is not a wish but it is a known fact that all humans will taste the sad and irreplaceable part of this life – death.
People die and new ones are born. It becomes a smooth transition from an older developer to a younger one, just like in a company. Most banks were established by people who are no longer with us. Think of bitcoin as run by a large board of executives that don't need to be elected. These executives are in different age and as long as there are new people interested in this type of digital money, the board will continue to exist. If they decide that the concept isn't interesting, it will die the natural way that so many inventions died. Is somebody nowadays interested in developing the steam engine? Are there people upgrading the telegraph? Don't worry about it, when bitcoin's time comes you'll know. It won't happen in a day or a month.
Bitcoin, fundamentally, isnt merely being “run.” I’s being supported, enhanced, and modified by an ever-evolving community. People come and go, yes, but Bitcoin remains - bound not by a collective agreement to manage it, but by a decentralized, collective belief in its fundamental principles: decentralization and scarcity.
While banks and corporations need a structured board to operate and make decisions, Bitcoin thrives on its decentralized nature, where decisions, like implementing upgrades, are made based on consensus, not executive orders. The shifting between developers, young and old, is not just a handover of positions but a handover of belief, of ideals. Its essential, though, to understand that Bitcoin wont simply “die” due to lack of interest but will adapt, evolve, and continue to influence how we perceive and utilize money.
