The Road Ahead

[murrekatt]

First of all I'd like to state that IMHO Bitcoin (or something similar) is the future of currencies and payments. If not during our lifetimes then later.

As we know, most things in the world revolves around money and transactions of payments as things/services are being traded. Being in control of that is key. This control is currently centralized. This also means that power is centralized. This we all know. We also know that power only strives for more power (power's only goal is power) which means it will not let anything peacefully take over even if "it makes sense". In the case with e.g. USD letting BTC take over without preserving the control in government. That will most likely not happen as things stand in in our time (either). It's disruptive. It's a revolution. It's about moving from centralized power to decentralized power.

Bitcoin today is a fraction of the total global economy and as it grows, there are bigger threats on the horizon. Just compare with Internet and all the censorship and SOAP/PIPA efforts happening right now. This is just the old (current) power system fighting back or it will be annihilated by the new. I see the same for Bitcoin. It of course doesn't mean we should not do it, it just means there are things that already are to be expected as Bitcoin grows. We are not welcomed.

To not immediately lose the game we need to be professional and do things right if that also means to comply with current laws where we operate. This is important. We also need to grow the number of online merchants and partner with strategic parties to have a chance in succeeding.

How are you thinking about the road ahead and what do you think is important for success?

[nwbitcoin]

I guess it depends on your viewpoint!

The chances that anyone can correctly predict the future of bitcoins in 20 years, at this time, is practically nil.

As an experiment, imagine its 1975, and someone asks you to predict how these computers are going to impact our lives - could you do it will any accuracy, besides talking about job losses and change?

[ShadowOfHarbringer]

As an experiment, imagine its 1975, and someone asks you to predict how these computers are going to impact our lives - could you do it will any accuracy, besides talking about job losses and change?

Actually, creators of "Star Trek" predicted it.

- Tablets
- Mobiles
- Personal computing
- Gadgets (IPad, pocket sensors)

However part of that may be a self-fulfilling prophecies as Star Trek inspired people to actually develop these things.

[charleshoskinson]

The road ahead comprises of several thresholds. First there is the notion of mainstream adoption of Bitcoin. This requests a correction of the PR issues of Bitcoin, reduction of the knowledge and software barriers to entry and making Bitcoin relatable to everyday consumers. Second, once millions have entered the ecosystem, there will be a battle over the protocol itself and investment in many different standards. Some alt coins will be elevated, many will die quickly. Eventually the market will settle embracing a small subset and regulations will lock in those standards. Bitcoin could die here.

Third, all modern payment systems will adapt the new standards into their software resulting in a ubiquitous online currency. We will also see significantly better exchanges develop alongside a host of financial products thus improving liquidity and reducing short term volatility.   

[CasinoBit]

I am a believer too, Bitcoin shows a lot of potential, sadly many businesses do not accept it and it is somewhat less convenient to pull out your phone for every payment, the battery can run out, it can break, etc etc.

Hopefully in the future they will find a way to send it person to person more easily. That would be the first step.

[ThatDGuy]

I am a believer too, Bitcoin shows a lot of potential, sadly many businesses do not accept it and it is somewhat less convenient to pull out your phone for every payment, the battery can run out, it can break, etc etc.

Hopefully in the future they will find a way to send it person to person more easily. That would be the first step.

I think the conference will have a lot of exciting prospects as well as plenty of new ideas bounced around and networking to help get that kind of infrastructure off the ground.

A really good, secure hardware wallet that is more usable by the average consumer will absolutely take BTC to the stratosphere.