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Question: Do you think bitcoin will live to see the next 10 years with all these new hard forks?
Yes
No
Not Sure

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Author Topic: Bitcoin won't live to see the next 10 years  (Read 2615 times)
cybersofts
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October 06, 2017, 10:55:28 PM
 #1

Quick Disclaimer:
1. I'm not here to support any shitcoin.
2. We're all gathered here because of bitcoin, so it's hard for me to see it fading way.

Bitcoin was designed not be fully anonymous since transactions were open permanently for the public to view.
Authorities and security agencies were able to trace the bitcoin owners based metadata and transaction pattern, history and so on.

Some developers understand this issue and they go ahead to create some new altcoins which they are fully anonymous by implementing new hashing algorithms on their very new altcoins such as Dash, Monero, Zcash and Zcoin.

So why the bitcoin "hard fork" instead of updating the original bitcoin core?
Forked coins like BitcoinCash & BitcoinGold are moving from ASICs to GPU mining for faster transactions, why not BTC?
Why not update bitcoin mining algorithm to Equihash (zk-snarks) like Zcash and the next upcoming Bitcoin Gold BTG? 

Instead of updating the original bitcoin core to have more secure and fast transactions with lower xt fee, yet making hard forks!
I think hard forks will soon kill the original bitcoin.
 
What do you think, huh? Share with us what you think. thanks Smiley

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gemstra
 
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October 06, 2017, 11:33:34 PM
 #2

Voted 'yes'. I presume Bitcoin will still be around in 10 years but probably won't be the leading coin in the world of cryptocurrencies anymore. It is getting outdated as you sort of mention in the OP and other, better performing altcoins are already emerging rapidly. BTC dominance in the total market capitalization is 49% nowadays, a huge drop compared to the 80 - 90% we've seen up until march this year.
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October 06, 2017, 11:36:12 PM
 #3

The US economy is $20 trillion in debt. The EU was 12 trillion euros in debt at last count before the EU debt clock website (http://www.eudebtclock.org) was censored & taken offline & search engine results were scrubbed to make it difficult to find info on what current EU outstanding debt is.

People often question whether bitcoin/crypto will survive and have longevity moving into the future.

I'm not certain anyone realizes how close american and european fiat may be to imminent collapse.

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October 06, 2017, 11:42:23 PM
 #4

The US economy is $20 trillion in debt. The EU was 12 trillion euros in debt at last count before the EU debt clock website (http://www.eudebtclock.org) was censored & taken offline & search engine results were scrubbed to make it difficult to find info on what current EU outstanding debt is.

People often question whether bitcoin/crypto will survive and have longevity moving into the future.

I'm not certain anyone realizes how close american and european fiat may be to imminent collapse.

True that, dude you should check the international dept and not only the national one...crazy numbers. Not sure if it all accurate but still impressive...http://money.visualcapitalist.com/all-of-the-worlds-money-and-markets-in-one-visualization/

I am not so sure about bitcoin, it might end up as a store of value because of the popularity.
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October 06, 2017, 11:45:26 PM
 #5

In light of such news as this and the latest bans in China. Personally, it seems more to me that regulators over the world can still find the ways to ban bitcoin. Therefore, the altcoins have more chances to survive.
"Not shure" voted.
aoluain
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October 06, 2017, 11:50:24 PM
 #6

I voted yes!
If we take the information from above, with the debt
countries are in and how fiat can collapse, what else
is there to fall back on only crypto where there is already
Quite a substantial amount of investment

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October 06, 2017, 11:55:23 PM
 #7

I voted yes!
If we take the information from above, with the debt
countries are in and how fiat can collapse, what else
is there to fall back on only crypto where there is already
Quite a substantial amount of investment

But is Bitcoin really stabil or substantial since only few thousand people hold the majority of coins. in any case the crypto world will profit from the current system
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October 06, 2017, 11:57:23 PM
 #8

I voted yes because the question is referring forks. Bitcoin won't go down just because there are forks based on its chain. This has been done before and nothing happened to Bitcoin and still isn't happening. But we can eventually see Bitcoin go down in the next 10 years if we eventually agree to change, update and scale Bitcoin so much that we won't be able to call it Bitcoin anymore.

So why the bitcoin "hard fork" instead of updating the original bitcoin core?

Simple, because there are different perspectives regarding Bitcoin's future.

Forked coins like BitcoinCash & BitcoinGold are moving from ASICs to GPU mining for faster transactions, why not BTC?

Moving to GPU mining? That would be going backwards Cheesy

Why not update bitcoin mining algorithm to Equihash (zk-snarks) like Zcash and the next upcoming Bitcoin Gold BTG?

Because that wouldn't be Bitcoin anymore.
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October 06, 2017, 11:58:53 PM
 #9

there is a posibility for bitcoin to lose the number 1 spot into the cryptocurrency world, but will definetly be here in 10 years. Wasnt bitcoin suposed to worth 1 million dollars,maybe even more?
Bitcoin has also some sentimental value for people, and believe it or not, but this really counts!
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October 07, 2017, 01:14:10 AM
 #10

Quick Disclaimer:
1. I'm not here to support any shitcoin.
2. We're all gathered here because of bitcoin, so it's hard for me to see it fading way.

Bitcoin was designed not be fully anonymous since transactions were open permanently for the public to view.
Authorities and security agencies were able to trace the bitcoin owners based metadata and transaction pattern, history and so on.

Some developers understand this issue and they go ahead to create some new altcoins which they are fully anonymous by implementing new hashing algorithms on their very new altcoins such as Dash, Monero, Zcash and Zcoin.

So why the bitcoin "hard fork" instead of updating the original bitcoin core?
Forked coins like BitcoinCash & BitcoinGold are moving from ASICs to GPU mining for faster transactions, why not BTC?
Why not update bitcoin mining algorithm to Equihash (zk-snarks) like Zcash and the next upcoming Bitcoin Gold BTG? 

Instead of updating the original bitcoin core to have more secure and fast transactions with lower xt fee, yet making hard forks!
I think hard forks will soon kill the original bitcoin.
 
What do you think, huh? Share with us what you think. thanks Smiley

Bitcoin Core developers have conservative approach, they keep security and stability as their prime value and any updates only go live after long periods of discussing and testing. Any new experimental improvements to cryptocurrency protocols should and are done on altcoins, there's no need install them on Bitcoin now. If time will prove that they are sound, we might see some of them at some point at the future. But more likely Bitcoin Core developers would be adding new features as a second layer, so you won't have to risk the main network and force all users to update their clients - this is much better than having hardforks every few months like some altcoins do. So, it's unlikely that alts will ever replace BTC - people value stability in finance more than experimental innovations.

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October 07, 2017, 02:21:24 AM
 #11

I think hard forks will soon kill the original bitcoin.
I dont think that Bitcoin hard fork will exceed Bitcoin , Bitcoin core make more improvements and fix some issues in the Bitcoin code and i think this will be a good enough.
If Bitcoin core team change the whole Bitcoin code what will be the value of the Original Bitcoin code that created by Satoshi Nakamoto?


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October 07, 2017, 02:40:58 AM
 #12

These hard forks are just another stage in the growth maturity cycle of bitcoin. Bitcoin needs to be tested...each test it goes through and survives is one that gives it strength to be relevant longer.

There won't be an endless series of fork attempts, it will stop, Bitcoin and the community just needs to prove that Bitcoin is the strongest coin. AND it's ok for the currency to evolve to meet new demands.

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October 07, 2017, 02:47:46 AM
 #13

I have been a Bitcoin holder since early 2013 and has been a complete believer, but these recent forkings are beginning to worry me.
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October 07, 2017, 02:48:00 AM
 #14

I Voted Yes,

Bitcoin Started How Many Years Ago, But Didn't collapse or vanished.

Nowadays there are so many coins that is going out but i don't think
That after ten years bitcoin will just dissolved.

Bitcoin will always Live. new coins  will try their best. To be popular
but they cannot beat bitcoin. For Sure.

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October 07, 2017, 02:56:35 AM
 #15

What do you think, huh? Share with us what you think. thanks Smiley

Everything thats ever happening in the world of cryptocurrencies is an evolution towards a better, leaner and more efficient industry. To get there, developers should be encouraged to keep exploring and experimenting. Some of them may be scams but some could also be valuable, like Mimblewimble.
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October 07, 2017, 03:12:04 AM
 #16

I believe that the hard fork of bitcoins is the next reigning. I also agree with your words because it is more attention to hardfork. And they do not know that the bitcoins are losing the foundation. But let's see we do not know what will happen next year

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October 07, 2017, 03:16:33 AM
 #17

Instead of updating the original bitcoin core to have more secure and fast transactions with lower xt fee, yet making hard forks!
I think hard forks will soon kill the original bitcoin.
 
What do you think, huh? Share with us what you think. thanks Smiley
Hard forks is not a easy thing to do, to create another blockchain of btc there must be enough developers and miners behind it who are willing to support completely. So even if we see hard forks every other month, the coin created by them won't love much if it doesn't have the proper developers support like the original BTC does. Hard forks can become a obstacle in BTC's success but they can't kill it, they will die before they even scratch BTC.
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October 07, 2017, 03:19:59 AM
 #18

I really don't see bitcoin going anywhere soon in the next 10-30 years. Bitcoin can go down in market cap but still survive. A better question is, would bitcoin still remain and claim the number 1 spot in terms of market cap in the next 10 years? Personally, I don't know. There's literally no way to say for now. But there's a decent chance that it will still be number 1.

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October 07, 2017, 03:24:31 AM
 #19

The US economy is $20 trillion in debt. The EU was 12 trillion euros in debt at last count before the EU debt clock website (http://www.eudebtclock.org) was censored & taken offline & search engine results were scrubbed to make it difficult to find info on what current EU outstanding debt is.

People often question whether bitcoin/crypto will survive and have longevity moving into the future.

I'm not certain anyone realizes how close american and european fiat may be to imminent collapse.

But if you just print more money you can pay off your debtors faster! Oh wait, except they print theirs even faster so you're screwed either way.

Bitcoins are constantly adapting, changing and upgrading. Will it always be number one? Maybe not. Something better will come out at some point. I don't think in the next 10 years bitcoins will be obsolete or worthless though.
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October 07, 2017, 03:26:25 AM
 #20

I won't be voting on this as I don't know what is gonna happen in future. Any predictions will solely be just on analysis and assumptions.
There is nothing to be worried about Bitcoin because it's just a crypto currency as the others. If at all Bitcoin gets faded away there will be other coins which will take it's place in the market. Crypto currency will have its dominance in the market and that is all it matters. As long as people believe in crypto currencies the dominance will be there and things will keep going on.














 

 

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