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Author Topic: Bitcoin's Fate In 2140  (Read 3155 times)
ETFbitcoin
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November 16, 2015, 07:45:00 AM
 #41

Forget about bitcoin fate in 2140 because most of us will be dead.
We even don't know if earth still exist in 2014, maybe there'll be war & earth is doomed.

Bitcoin'll dead if cryptography isn't strong in future or someone found a way to destroy bitcoin.
But, if none of them happened, most likely bitcoin is still alive in 2140.

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November 16, 2015, 07:54:10 AM
 #42

Forget about bitcoin fate in 2140 because most of us will be dead.
We even don't know if earth still exist in 2014, maybe there'll be war & earth is doomed.

Bitcoin'll dead if cryptography isn't strong in future or someone found a way to destroy bitcoin.
But, if none of them happened, most likely bitcoin is still alive in 2140.
That is the whole point of the story. As you know technology, and especially computers and software is produced with the aim of lasting for few years.
Look at hardware and PC specs from late 90. - your smartphone is much more faster that it. 10 years in computer tech developing is whole era.
I would be more worried about bitcoin's near future, government regulations, technical issues with bigger blocks, forking etc.

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November 16, 2015, 10:29:21 AM
 #43

Will 2140 huh! I will be long gone.

I hope that 2140 will look like the movie of Tomorrowland from the fuure.

And everyone using BTC. Cheesy
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November 16, 2015, 11:30:41 AM
 #44

According to me the chances of the first case are much more to happen.But the second case is very unlikely to be possible, though no one can predict the future.But bitcoin is the first of the crypto currencies and also the most successful of all of them, so the chances of its collapsing till 2140 are approximately nill.

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November 16, 2015, 11:48:48 AM
 #45

Who knows how society will be like in 2140, that's a lot of time, but what is for sure is, fiat will not exist, banks will not exist, and money will be digital. Will Bitcoin be the king of protocols? probably, more than the dollar existing.

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November 16, 2015, 12:06:16 PM
 #46

no one knows what will happen by that time. maybe bitcoin doesn't even exist anymore because it is replaced by something better. looking a few years infront of you is ok, but looking more than 100 years infront of you is insane.
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November 16, 2015, 12:23:45 PM
 #47

Then miners will stop mining because they wont get any Bitcoins lmao Cheesy

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November 16, 2015, 02:25:38 PM
 #48

Then miners will stop mining because they wont get any Bitcoins lmao Cheesy

miners will still get transaction fees. by design, as reward goes down transactions fees are supposed to up (with volume). that should incentivize miners to keep mining. I would think well before 2140 , the reward that miners earn will be comprised mostly of transaction fees anyway.
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November 16, 2015, 02:53:11 PM
 #49

As much as I am passionate about Bitcoin and its future Smiley the day when no more coins can be created puzzles me. Will coins be divided up in society in small amounts for the entire world to use? I don't think so. I think society is too held up by itself. It will adopt, but not everyone will adopt. I don't know what the future holds..

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November 16, 2015, 04:29:13 PM
 #50

I think BTC will be accepted in all country in year 2020.

2020 Is a nice number. But I think money well replace to BTC just I think it will be the future money.

The revolucion of MONEY (food --> gold/silvir/bronze --> cash --> banks/digital --> bitcoin)
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November 17, 2015, 10:04:50 PM
 #51

Then miners will stop mining because they wont get any Bitcoins lmao Cheesy

There will be no block reward in 2140. It could be early than 2140, may be 2100 as the difficulty increases all the time. However, if bitcoin still exists then, there will be transaction fees. Miners will live on transaction fee. The transaction fee will be high enough to support the miners.
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November 17, 2015, 10:20:23 PM
 #52

Then miners will stop mining because they wont get any Bitcoins lmao Cheesy

There will be no block reward in 2140. It could be early than 2140, may be 2100 as the difficulty increases all the time. However, if bitcoin still exists then, there will be transaction fees. Miners will live on transaction fee. The transaction fee will be high enough to support the miners.

transaction fees should be high enough to support miners. looks like around 2032 block reward will be .78btc. that's just around the corner. by 2050 block reward will be .0488 btc....its then another 90 years to 2140. so yeah transaction fees will support network....for bulk of its existance
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November 17, 2015, 10:24:22 PM
 #53

As soon as block reward gets lower than the fee's in block it will show weather bitcoin is going to keep rising in trend and value, or start decaying.
If fee's get higher than block reward, and price doesn't follow proportionally - hashrate will start decreasing.
That dependance in between these three values is what will dictate future.
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November 17, 2015, 11:03:03 PM
 #54

do you mean this is fate about bitcoin on year of 20140?  Huh
but i try to tell you something,i hope that there will be mass adoption. But many people still remember the Mt Gox incident. Bitcoin would be much better off if that hadn't happened. I asked my friends recently what they knew about bitcoin, and they claimed it was a scam. I asked them why, and they told me about some exchange that ran away with alot of BTC.
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November 18, 2015, 11:02:00 AM
 #55

One of the concerns I see raised when it comes to the network, mining and the transaction chain is the computing power, bandwidth and storage required to keep transactions moving. This is no different to mainstream banks except in comparison their fee's to users is unjustified.

The saving grace is that computing power, bandwidth and storage is now relatively cheap compared to 5-10 years ago. Having worked in IT for almost 20 years it has been amazing to see the change from massive 100MB hard drives to 8000000MB drives. CPU power has been the same, jumping from 20MHz to multiple 2GHz cores in one chip.

I would love to see Quantum computing and the Q-Waves in action as mining systems on a nice 10GB fibre link and some SSDs.

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November 18, 2015, 11:43:50 AM
 #56

I think in 2140 there is no more bitcoin.

I believe other crypto currency or other technology can replace bitcoin in the future.

But it still adopt from the bitcoin, as bitcoin is the 'mother' of the current crypto currency.
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November 18, 2015, 01:18:03 PM
 #57

That's the same as asking someone in 1890 (before the car was even invented, and only 11 years after we figured out how to turn on a lightbulb with electricity) what the world would be like in 2015.

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November 18, 2015, 02:42:51 PM
 #58

I think in 2140 there is no more bitcoin.

I believe other crypto currency or other technology can replace bitcoin in the future.

But it still adopt from the bitcoin, as bitcoin is the 'mother' of the current crypto currency.

Not necessarily. Bitcoin is programmable money, therefore, it can adapt. It can also keep getting its security improved, as it is today, it can already deal with quantum computer attacks. Satoshi knew that if he did a supply that would keep releasing coins until 2140, he had to make something that wold last this long. Bitcoin can last for all those years.

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AtheistAKASaneBrain
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November 18, 2015, 11:33:22 PM
 #59

That's the same as asking someone in 1890 (before the car was even invented, and only 11 years after we figured out how to turn on a lightbulb with electricity) what the world would be like in 2015.



It's extremely hard to predict. There are some scientists that predict singularity reached actually a lot of years before we reach that, meaning that IA will be as intelligent as us or more... im not sure about this, but in case this happened, I wonder what the repercussion would be. Would a super IA more intelligent than us be able to create a "better Bitcoin?"
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November 19, 2015, 12:41:33 AM
 #60

2140 . . . . seems soooo far.
I don't think the internet itself (which support bitcoin distribution and activities) will be as how it was "back then" in 2015. So, first we will need to consider how the internet in 2140 as a control variable. Its not impossible at all that they found a new method of currency which will lead to your second point (btc will be abandoned by their community).


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