When will Bitcoin become obsolete?

[robelneo]

Regular people are refused to use Bitcoin or doesn't understand why it's important except for criminals and speculators.
Transaction times are too slow... The list goes on. Everybody I know already know what Bitcoin is but they are not
interested.
So it's a matter of time when central bank(s), government(s) or bank(s) create their own crypto currencies and block chain
based services more advanced than Bitcoin. Same happened with the internet: In the beginning it was free stuff and
small open source projects, now it's completely dominated by few huge companies who collect all the revenues (Google,
Facebook, etc)

So when this will happen to block chain and Bitcoin will become obsolete?

(Please no delusional believers "Bitcoin will replace fiat" type of nonsense comments)

The fact that this forum is one the top 10,000 sites and many merchants and bitcoin related sites are coming up and bitcoin atm are mushrooming is a sure sign that bitcoin is here to stay ,it is the pioneer crypto currency ,many coins will come out but definitely bitcoin will still be the crypto currency of choice that includes state run crypto currency

[fracorcled]

The fact that this forum is one the top 10,000 sites and many merchants and bitcoin related sites are coming up and bitcoin atm are mushrooming is a sure sign that bitcoin is here to stay ,it is the pioneer crypto currency ,many coins will come out but definitely bitcoin will still be the crypto currency of choice that includes state run crypto currency

Chinese government is going to launch its own cryptocurrency. Other governments might follow suite. They need a common money to exchange to, that will be bitcoin.

[arbitrage]

l think that in this case they will try takeover..and forcing some kind of control in order to prevent money laundry.
They will try to centralize bitcoin usage- my opinion.

[Zacudis]

l think that in this case they will try takeover..and forcing some kind of control in order to prevent money laundry.
They will try to centralize bitcoin usage- my opinion.

With the coin issued by the Chinese government, it will be well controlled and difficult to do money laundering.

[Amph]

The fact that this forum is one the top 10,000 sites and many merchants and bitcoin related sites are coming up and bitcoin atm are mushrooming is a sure sign that bitcoin is here to stay ,it is the pioneer crypto currency ,many coins will come out but definitely bitcoin will still be the crypto currency of choice that includes state run crypto currency

Chinese government is going to launch its own cryptocurrency. Other governments might follow suite. They need a common money to exchange to, that will be bitcoin.

this will not make in any way bitcoin obsolete, it will only increase the awareness about it, which is something needed

ears in mind that those new coins will only be a fiat version with a blockchain, nothing to be excited about

[randchingo]

I won't say "Bitcoin will replace fiat" but at least BTC won't become obsolete anytime soon, even if it does not get attention of the majortiy of the people there are still people who use it therefore it should maintain some existence.

[Watercooler]

Bitcoin in still very young, we just celebrated it's 7th birthday. Surely it had it's ups- and downs, but
that was related to MtGox, Silk Road, Cryptsy, Mike Hearn. But I'm convinced the future looks bright

[gkv9]

There ain't any possibility for BTC to become obsolete, at least not for the next 14 years unless we see Satoshi's prediction for BTC to turn out reality...
BTC is here to stay always, and the technology is still new to everyone, so obsoletism ain't an option here...
There is no reason why anyone would leave BTC once they start using it...

[Zacudis]

Bitcoin in still very young, we just celebrated it's 7th birthday. Surely it had it's ups- and downs, but
that was related to MtGox, Silk Road, Cryptsy, Mike Hearn. But I'm convinced the future looks bright

I am quite sympathetic to Mike hearn. He tried to persuade the Core developer to increase the block size quickly. But failed to do so.

[phreaky]

I guess it will be in 25 years or more. Just because some developers decides to leave doesn't mean the complete bitcon project
is over. Just give in time. It will revive again.

[damiano]

You have some merit not asking for delusional Bitcoin believers who believe it will replace fiat. Your post has some delusion to it, if it is a great tool for speculators and so called criminals then theat means there is a need for Bitcoin. I personally don't really care if average joe wants to use it to buy coffee from starbucks or burgers from mac d's.

If they create a centralized coin; good for them! While taking it to market they will make a knock on effect of bringing more exposure to Bitcoin, good or bad doesn't matter. The more people that wake up to crypto in general the better for Bitcoin.

In short unless something breaks that cannot be fixed, Blockchain/Bitcoin will not become obsolete in our lifetime.

[futureofbitcoin]

I'm guessing in less than 50 years. But it'll be replaced by a better innovation, not because it has failed.

[ranochigo]

Bitcoin would never become obsolete due to any security risks. Bitcoin us designed to be as flexible as possible, anything can be changed as long as majority of network supports it. The only time when Bitcoin becomes obsolete is when a better solution comes out and replace it.

[Rizky Aditya]

The options for the poll are too small. Bitcoin is still in its early stages, it will take a long time before it becomes obsolete.

[madonnino]

maybe when bitcoin mining will end, then there will be 'a turning point because the miner would earn only from transaction fees

[ranochigo]

maybe when bitcoin mining will end, then there will be 'a turning point because the miner would earn only from transaction fees

Mining will never end. If majority of the miners stop mining, the network will slowly decrease the difficulty and mining would be more profitable again. When mining ends, the electrical cost and hardware cost/efficiency would be much better and hence those in the future can have more revenue compared to the same scale mining farm.

[NeuroticFish]

There are 2 things that can render Bitcoin "obsolete".

1. If ever a much better coin comes to live and people migrate to it (one thing could be the real privacy, which Bitcoin don't actually offer, but people can find many features we didn't think of yet).
2. If quantum computers really come to live (D-Wave 2X is a step in that direction).

I cannot predict if or when any of these can happen. May be in a year, may be never.

[jtipt]

I would say in about 20-25 years.  As long as even few people show intrest in bitcoins it won't go Complete obsolete. And most likely bitcoin would go obsolete only when  a better crypto currency comes, which is not happening anytime soon.

[goinmerry]

I dont think it will be obsolete. It will stay there. Although all bitcoins are mined in the future it can still be used. Unlike, oil or gas there will be a time it will be obsolete. But bitcoin? As long as there is internet I think it will not be erased just like that. It is like precious metals that are kept in your vaults it will just keep increasing in time.

[MyBTT]

The options for the poll are too small. Bitcoin is still in its early stages, it will take a long time before it becomes obsolete.

I definitely agree with you. Bitcoin is not going to suddenly become obsolete in like 2 minutes.