Future of Bitcoin Economics

[deisik]

In my opinion, Bitcoin is cryptocurrency of future. Now very few people deal with cash - they prefer doing everything using credit/debit cards. A rare person now remembers when he kept all his money at home.
Meanwhile, doing bank operations, people hate to pay commissions for it and withdrawal in ATM costs too. BTC gives all chances to get rid of many commissions.
Bitcoin economic will flourish. 

Well, but what about transaction fees? Right now it is around $4 for a fast transaction. I think Bitcoin is a great tool for transferring huge amounts, but not so good for the small ones. Maybe this problem will be solved in the future and then indeed Bitcoin will be used more than credit/debit cards.

If anything, that's unlikely

Personally, I doubt that the problem with the high fees will be solved. Bitcoin is not used as a tool for transferring daily values. And that has become sort of normal. If you need fast and cheap transactions, use Litecoin or something similar. But this is not what I want to say here. My point is that Bitcoin has basically burned the bridges behind itself, and it has no place where to retreat or run for cover. If it crashes for some reason and turns into yet another coin, it is effectively doomed for extinction, since, technically, it is an utterly outdated coin, and its only advantage is higher profitability over longer terms entirely due to speculation. But will it last forever?

[Naoko]

the fact is that this can't last forever - bitcoin can't grow forever..... and what? it will collapse?...I personally don't have a concrete understanding of how bitcoin can survive

[Jedie22]

I think the future of bitcoin economics will be huge one that influence other economy of different countries. By the help of the people the bitcoin will be the great thing the have.

The future of bitcoin, will depends on each and everyone of us. The economics of bitcoin as of this days is very demand and popular due to its output performance as its value is getting high, set a new record to its high value. We have different assumptions and predictions of the bitcoin, but I believed it will last longer since its already proven many years ago. Though there might a little fall down, and it will be solved and continue its value increase as the time passes by and having a good profit in the future

[musliyevich]

Future of Bitcoin Economics depends on mass adoption of Bitcoin. No body can predict accurately the true future of Bitcoin.

If amazon start accept bitcoin , bitcoin will have great future and may be kick $ out

[ene1980]

Bitcoin for now isn't just a currency anymore. As my view, more and more of my friend are concerning about Bitcoin. I think Bitcoin now can be reviewed as an industry that can make trillion dollars each year for us. An industry that exist on the internet, the blockchain technology and we can connect to it at everywhere in the Earth.

Do you think that bitcoin is an industry that would shell out money to you and your friends  hope you know that the bitcoin is a billion dollar market and not a trillion dollar market,check the facts ,looks like you have no idea what you are talking about  .With the derivatives market accepting bitcoin it is really huge and it is evident with the recent rally after the news came out.

[Honest Tim]

Bitcoins is a worldwide crypto currency and is growing with a such fast rate.  Bitcoin offers so many benefits like bitcoin grow too large too quickly and it will turn into a more centralised payment system that governments can interfere with. That is because, if the blockchain becomes too big, individual holders will no longer be able to use their own computers to check whether a transaction is valid.  Bitcoin allow transaction fees free transaction,  easy transfer from one to another. No fear of thief if stealing it.  Future of bitcoins in economy is that more and more companies will accept it as a payment,  many countries will legalise the bitcoin and their will be strict norms and laws for its regulations.

[Loopper]

the fact is that this can't last forever - bitcoin can't grow forever..... and what? it will collapse?...I personally don't have a concrete understanding of how bitcoin can survive

I agree with you because Bitcoin doesn't seem to survive forever like the gold that was known in ancient times.

[Mr.grin]

Bitcoin for now isn't just a currency anymore. As my view, more and more of my friend are concerning about Bitcoin. I think Bitcoin now can be reviewed as an industry that can make trillion dollars each year for us. An industry that exist on the internet, the blockchain technology and we can connect to it at everywhere in the Earth.

Do you think that bitcoin is an industry that would shell out money to you and your friends  hope you know that the bitcoin is a billion dollar market and not a trillion dollar market,check the facts ,looks like you have no idea what you are talking about  .With the derivatives market accepting bitcoin it is really huge and it is evident with the recent rally after the news came out.

actually, in my opinion, the economic development of bitcoin has not been fully established. there is still a controversy in the world of crypto. as we know, there are still many negative things that governments think about bitcoin. so I think the development is not maximal yet.

[@prashant]

Bitcoin for now isn't just a currency anymore. As my view, more and more of my friend are concerning about Bitcoin. I think Bitcoin now can be reviewed as an industry that can make trillion dollars each year for us. An industry that exist on the internet, the blockchain technology and we can connect to it at everywhere in the Earth.

Do you think that bitcoin is an industry that would shell out money to you and your friends  hope you know that the bitcoin is a billion dollar market and not a trillion dollar market,check the facts ,looks like you have no idea what you are talking about  .With the derivatives market accepting bitcoin it is really huge and it is evident with the recent rally after the news came out.

actually, in my opinion, the economic development of bitcoin has not been fully established. there is still a controversy in the world of crypto. as we know, there are still many negative things that governments think about bitcoin. so I think the development is not maximal yet.

government might or might accept it but some country have taken initiative to accept it while others are thinking of banning it and others are thinking of it  as controlling cryptocurrency and taking them in capital gain.but blockchain technology is spreading across the globe soon it will be widely accepted by bank to secure their data.we might also see country coin just like Russia are planning to introduce their currency.

[Wylie330]

Yes. No one will be ever to predict something's future. But what is happening and how well the status Bitcoin is, we can tell that Bitcoin will have a great future ahead. There's a bigger chance that Bitcoin will have an important place in our economy.

[Betwrong]

In my opinion, Bitcoin is cryptocurrency of future. Now very few people deal with cash - they prefer doing everything using credit/debit cards. A rare person now remembers when he kept all his money at home.
Meanwhile, doing bank operations, people hate to pay commissions for it and withdrawal in ATM costs too. BTC gives all chances to get rid of many commissions.
Bitcoin economic will flourish.  

Well, but what about transaction fees? Right now it is around $4 for a fast transaction. I think Bitcoin is a great tool for transferring huge amounts, but not so good for the small ones. Maybe this problem will be solved in the future and then indeed Bitcoin will be used more than credit/debit cards.

If anything, that's unlikely

Personally, I doubt that the problem with the high fees will be solved. Bitcoin is not used as a tool for transferring daily values. And that has become sort of normal. If you need fast and cheap transactions, use Litecoin or something similar. But this is not what I want to say here. My point is that Bitcoin has basically burned the bridges behind itself, and it has no place where to retreat or run for cover. If it crashes for some reason and turns into yet another coin, it is effectively doomed for extinction, since, technically, it is an utterly outdated coin, and its only advantage is higher profitability over longer terms entirely due to speculation. But will it last forever?

Even if you are right and Litecoin or any other crypto is better than Bitcoin regarding the speed and the price of transactions, for most people it will take huge amount of time to comprehend that. Most people, and I mean educated and wealthy people, don't use Bitcoin still, and when they will start using BTC it will take another 10 years for them to learn about advantages of other cryptos. But I personally think that it is not guaranteed that Litecoin will not face similar problems (or other critical problems) when used on a larger scale.

[deisik]

In my opinion, Bitcoin is cryptocurrency of future. Now very few people deal with cash - they prefer doing everything using credit/debit cards. A rare person now remembers when he kept all his money at home.
Meanwhile, doing bank operations, people hate to pay commissions for it and withdrawal in ATM costs too. BTC gives all chances to get rid of many commissions.
Bitcoin economic will flourish. 

Well, but what about transaction fees? Right now it is around $4 for a fast transaction. I think Bitcoin is a great tool for transferring huge amounts, but not so good for the small ones. Maybe this problem will be solved in the future and then indeed Bitcoin will be used more than credit/debit cards.

If anything, that's unlikely

Personally, I doubt that the problem with the high fees will be solved. Bitcoin is not used as a tool for transferring daily values. And that has become sort of normal. If you need fast and cheap transactions, use Litecoin or something similar. But this is not what I want to say here. My point is that Bitcoin has basically burned the bridges behind itself, and it has no place where to retreat or run for cover. If it crashes for some reason and turns into yet another coin, it is effectively doomed for extinction, since, technically, it is an utterly outdated coin, and its only advantage is higher profitability over longer terms entirely due to speculation. But will it last forever?

Even if you are right and Litecoin or any other crypto is better than Bitcoin regarding the speed and the price of transactions, for most people it will take huge amount of time to comprehend that. Most people, and I mean educated and wealthy people, don't use Bitcoin still, and when they will start using BTC it will take another 10 years for them to learn about advantages of other cryptos. But I personally think that it is not guaranteed that Litecoin will not face similar problems (or other critical problems) when used on a larger scale.

It is not about me being right or wrong

It is an established fact that the total majority of coins are way faster than Bitcoin, and most of them are cheaper in terms of transaction costs at that. But that's not my point, which you to have missed entirely. You seem to have missed or discarded my assumption that if Bitcoin should crash massively (for whatever reason), there will be no way back for it since it will instantly turn into a completely outdated coin. You basically assume that Bitcoin will never crash but that is not a given by any means

[Ewinsane]

the future of bitcoin economy will be better than it is now. if more and more bitcoin users will drive the bitcoin economy. the rising bitcoin price makes me even more diligent in finding bitcoin.

So far so good as price is rising people who had made good amount of investment in this segment are reaping the rewards and making their money grow quickly which is not possible anywhere else. Considering this demand may increase more when we have more good news and prices are tend to rise .

sometimes you have to think that bitcoin are more than just about price , people nowadays really almost lost their idealist thought about how bitcoin should be used as a currency just like fiat in real life .

just the matter how people can completely accept bitcoin as their payment tool , and i am a little bit pessimistic it could be done sooner.

Economists is afraid of crypto because it can lesser the transactions and many of them will be affected and fiat money would be less useful in the future.Bitcoin and other altcoin will dominate in the future because people want fast and hassle free transaction.Never afraid of crypto but be positive in it because many were given chance to be rich.

We all know that due to excess of digital currency usage in the modern world a time will come in near future when the physical money is going to be completely replaced by cryptocurrency. Altcoins as well as a bitcoins are taking over the international market because of their excessive use and increment in the consumer level.

So the future of Bitcoin economy is very bright and anyone who is holding the BTC is in his wallet must not get fearful about the future of Btcs.

[Betwrong]

In my opinion, Bitcoin is cryptocurrency of future. Now very few people deal with cash - they prefer doing everything using credit/debit cards. A rare person now remembers when he kept all his money at home.
Meanwhile, doing bank operations, people hate to pay commissions for it and withdrawal in ATM costs too. BTC gives all chances to get rid of many commissions.
Bitcoin economic will flourish. 

Well, but what about transaction fees? Right now it is around $4 for a fast transaction. I think Bitcoin is a great tool for transferring huge amounts, but not so good for the small ones. Maybe this problem will be solved in the future and then indeed Bitcoin will be used more than credit/debit cards.

If anything, that's unlikely

Personally, I doubt that the problem with the high fees will be solved. Bitcoin is not used as a tool for transferring daily values. And that has become sort of normal. If you need fast and cheap transactions, use Litecoin or something similar. But this is not what I want to say here. My point is that Bitcoin has basically burned the bridges behind itself, and it has no place where to retreat or run for cover. If it crashes for some reason and turns into yet another coin, it is effectively doomed for extinction, since, technically, it is an utterly outdated coin, and its only advantage is higher profitability over longer terms entirely due to speculation. But will it last forever?

Even if you are right and Litecoin or any other crypto is better than Bitcoin regarding the speed and the price of transactions, for most people it will take huge amount of time to comprehend that. Most people, and I mean educated and wealthy people, don't use Bitcoin still, and when they will start using BTC it will take another 10 years for them to learn about advantages of other cryptos. But I personally think that it is not guaranteed that Litecoin will not face similar problems (or other critical problems) when used on a larger scale.

It is not about me being right or wrong

It is an established fact that the total majority of coins are way faster than Bitcoin, and most of them are cheaper in terms of transaction costs at that. But that's not my point, which you to have missed entirely. You seem to have missed or discarded my assumption that if Bitcoin should crash massively (for whatever reason), there will be no way back for it since it will instantly turn into a completely outdated coin. You basically assume that Bitcoin will never crash but that is not a given by any means

I agree with you, indeed majority of other coins are faster than Bitcoin right now. I'd been using some of them and I was amazed about the speed of transactions even when working with trash coins. But do you think they will be as fast when used on a larger scale? I personally don't know the answer and that's why I assert nothing as certain. I really want to read your answer to that question because I respect you and generally I enjoy reading your posts.

As for Bitcoin's hypothetical crash ... Well, anything can happen, but I think it is very unlikely, given the fact that its popularity and hence support is on the rise.

I want to use an example from agriculture in that regard. Wild grass is much better adjusted to the environment than a cultivated plant. Yet a cultivated plant has more chances to survive when it is cared of, or, in other words, supported. Wild grass stands for altcoins in our case, and a cultivated plant stands for Bitcoin.

[deisik]

In my opinion, Bitcoin is cryptocurrency of future. Now very few people deal with cash - they prefer doing everything using credit/debit cards. A rare person now remembers when he kept all his money at home.
Meanwhile, doing bank operations, people hate to pay commissions for it and withdrawal in ATM costs too. BTC gives all chances to get rid of many commissions.
Bitcoin economic will flourish. 

Well, but what about transaction fees? Right now it is around $4 for a fast transaction. I think Bitcoin is a great tool for transferring huge amounts, but not so good for the small ones. Maybe this problem will be solved in the future and then indeed Bitcoin will be used more than credit/debit cards.

If anything, that's unlikely

Personally, I doubt that the problem with the high fees will be solved. Bitcoin is not used as a tool for transferring daily values. And that has become sort of normal. If you need fast and cheap transactions, use Litecoin or something similar. But this is not what I want to say here. My point is that Bitcoin has basically burned the bridges behind itself, and it has no place where to retreat or run for cover. If it crashes for some reason and turns into yet another coin, it is effectively doomed for extinction, since, technically, it is an utterly outdated coin, and its only advantage is higher profitability over longer terms entirely due to speculation. But will it last forever?

Even if you are right and Litecoin or any other crypto is better than Bitcoin regarding the speed and the price of transactions, for most people it will take huge amount of time to comprehend that. Most people, and I mean educated and wealthy people, don't use Bitcoin still, and when they will start using BTC it will take another 10 years for them to learn about advantages of other cryptos. But I personally think that it is not guaranteed that Litecoin will not face similar problems (or other critical problems) when used on a larger scale.

It is not about me being right or wrong

It is an established fact that the total majority of coins are way faster than Bitcoin, and most of them are cheaper in terms of transaction costs at that. But that's not my point, which you to have missed entirely. You seem to have missed or discarded my assumption that if Bitcoin should crash massively (for whatever reason), there will be no way back for it since it will instantly turn into a completely outdated coin. You basically assume that Bitcoin will never crash but that is not a given by any means

I agree with you, indeed majority of other coins are faster than Bitcoin right now. I'd been using some of them and I was amazed about the speed of transactions even when working with trash coins. But do you think they will be as fast when used on a larger scale? I personally don't know the answer and that's why I assert nothing as certain. I really want to read your answer to that question because I respect you and generally I enjoy reading your posts

I'm mostly interested in Litecoin

And thus I can't say anything definitive about other altcoins. Litecoin has SW and LN activated already, so we should just wait and see when its current transactional capacity is exhausted, i.e. the capacity it has without employing Lightning Network capabilities. Regarding your example of weeds versus crops, I think it is not applicable here in the sense you mean it. In other words, you can take any weed plant, cultivate it, and you will likely get even a better result. That's why I make a point out of a possible Bitcoin collapse. It would create a level ground for all coins, and devil take the hindmost

[MARAI NAZ]

In my opinion, Bitcoin is cryptocurrency of future. Now very few people deal with cash - they prefer doing everything using credit/debit cards. A rare person now remembers when he kept all his money at home.
Meanwhile, doing bank operations, people hate to pay commissions for it and withdrawal in ATM costs too. BTC gives all chances to get rid of many commissions.
Bitcoin economic will flourish. 

Well, but what about transaction fees? Right now it is around $4 for a fast transaction. I think Bitcoin is a great tool for transferring huge amounts, but not so good for the small ones. Maybe this problem will be solved in the future and then indeed Bitcoin will be used more than credit/debit cards.

If anything, that's unlikely

Personally, I doubt that the problem with the high fees will be solved. Bitcoin is not used as a tool for transferring daily values. And that has become sort of normal. If you need fast and cheap transactions, use Litecoin or something similar. But this is not what I want to say here. My point is that Bitcoin has basically burned the bridges behind itself, and it has no place where to retreat or run for cover. If it crashes for some reason and turns into yet another coin, it is effectively doomed for extinction, since, technically, it is an utterly outdated coin, and its only advantage is higher profitability over longer terms entirely due to speculation. But will it last forever?

Even if you are right and Litecoin or any other crypto is better than Bitcoin regarding the speed and the price of transactions, for most people it will take huge amount of time to comprehend that. Most people, and I mean educated and wealthy people, don't use Bitcoin still, and when they will start using BTC it will take another 10 years for them to learn about advantages of other cryptos. But I personally think that it is not guaranteed that Litecoin will not face similar problems (or other critical problems) when used on a larger scale.

It is not about me being right or wrong

It is an established fact that the total majority of coins are way faster than Bitcoin, and most of them are cheaper in terms of transaction costs at that. But that's not my point, which you to have missed entirely. You seem to have missed or discarded my assumption that if Bitcoin should crash massively (for whatever reason), there will be no way back for it since it will instantly turn into a completely outdated coin. You basically assume that Bitcoin will never crash but that is not a given by any means

I agree with you, indeed majority of other coins are faster than Bitcoin right now. I'd been using some of them and I was amazed about the speed of transactions even when working with trash coins. But do you think they will be as fast when used on a larger scale? I personally don't know the answer and that's why I assert nothing as certain. I really want to read your answer to that question because I respect you and generally I enjoy reading your posts

I'm mostly interested in Litecoin

And thus I can't say anything definitive about other altcoins. Litecoin has SW and LN activated already, so we should just wait and see when its current transactional capacity is exhausted, i.e. the capacity it has without employing Lightning Network capabilities. Regarding your example of weeds versus crops, I think it is not applicable here in the sense you mean it. In other words, you can take any weed plant, cultivate it, and you will likely get even a better result. That's why I make a point out of a possible Bitcoin collapse. It would create a level ground for all coins, and devil take the hindmost

No doubt that bitcoin economy has a bright future, Bitcoin price is increasing from time to time which is the proof that bitcoin  has a bright future.

[socks435]

Personally I do not see the future of bitcoin economy. Now the miners mined bitcoins, and the rest buy them and hold in hopes to get rich when the price of bitcoin will rise. Agree it's not the economy. While it reminds me of a pyramid which at any moment can collapse.

Pyramiding reminds me last week when bitcoin arises when mass adoption happen since those who were on top or have it before were really benefiting ,i think economy will always like that.

I think bitcoin is different than pyramid since we already experience to lose investment because of pyramid scheme..
Bitcoin has a good future since lots of company and business are starting to use bitcoin and we can use bitcoin also for developing build own arcade computer shop that accept bitcoins could be a good idea. and hope someone can do that here in my country or if ever bitcoin is really well know i can use bitcoin to build a computer shop that accept bitcoin and before the computer to run they need to send bitcoin first and computer will open..           
Bitcoin could be a great payment processor because you can use it even in mobile we are in field of technology so bitcoin economy has a great future..

[BIushingSpirit]

Ideally, the majority of it's a HOLD / HODLBut why not spend a little and and experience the Technologies.Be a part of the Trend

[heidybarted]

However, the technological advances of today allow us to deduce that the best way to negotiate or invest money is in digital currency.
Of course, it is very likely that the Bitcoin of a good change of course, I could not say no, however, from now until 2018, a surprising rise in Bitcoin is predicted.

[real eyes realize]

I think the situation of the price of bitcoin will continue to rise in the future. People's interest in bitcoin is growing every day and I think it will reach more volatile prices in the future.