Will Bitcoin take over the world and drive most of the commerce worldwide?

[fabianji]

Hate to be that guy to say it but at the rate of which actual adoption is happening, it would be very hard for bitcoin (and cryptos) to be one of the leading drivers of economies and commerce. Sure, it posed a revolution about money and how it works, but that isn't enough for people to actually use it for their expenses and cause a significant change on global economies. There's that, plus the governments who'd gladly take every possible step to stop or hinder the growth of crypto and push their fiat into our faces, and we cannot do anything about it. Many great minds have great visions about bitcoin and crypto in general, but it's hard to get those visions into reality if there are countless of hurdles and hindrances along the way towards a significant change.

The system is too young to take on mainstream adoption, and the government is there trying to stop it in any possible way they can. I'd love to see crypto bring change over the world but with what's happening currently, I don't think it can in the near future.

I think there are continuous developments that are improving on all those areas where the technology falls short at the moment: transaction speed, scalability etc. Proof of stake for instance is one of those.

[redhondaxrm125]

To be honest, judging by how the crypto world has been moving for the past few months and a few years back, i really do not think that bitcoins will be taking over the world anytime soon. Although I amnot saying that it won't happen, I really do not think that it will happen anywhere near my lifetime or my grand children's. It's just too obvious that it is very unlikely to happen if not impossible one look at the history and you will understand.

[trickyriky]

I will not exclude this possibility. At least I seriously believe that blockchain technologies will be widely used globally. Now even rockets fly to the space and blockchain is used.

[AngelSky]

I will not exclude this possibility. At least I seriously believe that blockchain technologies will be widely used globally. Now even rockets fly to the space and blockchain is used.

You are right today I see the news shared by the Ferrari racing corp. They are now accepting the bitcoin and ethereum as the payment for the buying on their every product. In future we will find the more countries and companies accepted bitcoin to buy the products from them.
We need to check everyone looking for the new technology and suggest them about the bitcoin payment API other. Project leads will be happier with reduction of cheap fees for international payment and etc...

[Clark13]

Do you believe that take over the world?
Do you believe that Bitcoin will drive most of the world's commerce?

Silicon Valley legendary venture capitalist Tim Draper certainly thinks so and talks about it in the latest interview in Forbes Magazine.

I certainly agree with Draper, why anyone would want to go back to fiat when crypto is distributed, secure and global, while fiat is subject to the whims of political forces.

https://www.forbes.com/sites/nathanvardi/2018/02/07/silicon-valley-legend-tim-draper-bitcoin-and-crypto-will-take-over-the-world/

In my opinion Bitcoin technology has completely redefined the concept of money in its nine years of existence.

It is designed so that only the person who knows private key controls the bitcoin associated with a given public (key) address.

Unlike a ton of gold or suitcases filled with cash, a Bitcoin user can store indefinite amounts on a given address. A trillion dollars, for example, stored on a single address costs just as much to store as $1 in bitcoin.

You can send pretty much any amount to someone else on the other side of the globe in minutes, just like an email. This is something that was never done before so seamlessly and without a middleman.

Also people who travel abroad know perfectly well that no more than $10,000 USD can be brought along. A penny more, and you must explain where that money is coming from and what it is being used for to the border patrol.

Also Bitcoin introduced something that has never existed before: the concept of digital scarcity. For example, while most US dollars today come in digital form, more is always created – something that has ballooned the US national debt to over $20 trillion.

Hard capped at 21 million, there are no central planners or decision-makers that can change this number because that would mean convincing millions of users to go along.

Bitcoin is not a static technology. In fact, the innovation in Bitcoin has been staggering. Numerous proposals to optimize and improve it are already in the pipeline, including plans to make transactions instant, cheaper, more private, and more decentralized.

As of now, we have 26 cryptocurrencies that reached the billion market cap, including the bitcoin. All of them has the potential to grow more than what bitcoin did, eventhough they are not in billion market cap. It always depends on how they change in the given period of time. If people find it so useful and they thought that they can invest through it and they can gain profit, then they will go to it, make it popular and then it depends if it will grow.