Will bitcoin have trouble in evolving and keeping up?

[newBIeT]

I have read articles regarding bitcoin, blockchain technology, cryptocurrencies and i have been amazed of what bitcoin have achieve for the past couple of years and its popularity that extended globally. It have reached $19,000 at the last quarter of 2017 (http://www.latimes.com/business/la-fi-bitcoin-20171207-story.html) and now swinging at $7,000 below. Yet, considering that the value of bitcoin is highly volatile its normal that its value fluctuates.

Just recently, Bitcoin have proved wrong the former CEO of Mt. Gox (Mark Karpeles) one of the largest cryptocurrency exchange before, after he stated years ago that "Bitcoin may have trouble in evolving and keeping up". With respect to what Bitcoin has achieve nowadays behind negative articles, negative perceptions it actually proves that Bitcoin is really keeping up and is evolving (and will continue to evolve). https://www.investopedia.com/news/former-mt-gox-ceo-questions-bitcoins-evolution/

Let me know your perceptions avid bitcoiners Your ideas will be highly appreciated.

[Herbert2020]

It have reached $19,000 at the last quarter of 2017 and now swinging at $7,000 below.

another way of looking at it is that bitcoin price was less than $1000 at the beginning of 2017 and now it is worth nearly $7000 which is 7 times higher in a little more than a year.

Just recently, Bitcoin have proved wrong the former CEO of Mt. Gox (Mark Karpeles) one of the largest cryptocurrency exchange before, after he stated years ago that "Bitcoin may have trouble in evolving and keeping up". With respect to what Bitcoin has achieve nowadays behind negative articles, negative perceptions it actually proves that Bitcoin is really keeping up and is evolving (and will continue to evolve). https://www.investopedia.com/news/former-mt-gox-ceo-questions-bitcoins-evolution/

articles like this are normal when we are talking about bitcoin. there are a lot of people who don't understand and/or are threatened by bitcoin's existence alone because bitcoin is gaining more popularity and is adopted more as time goes by and that is threatening to them.
it is a revolution that is happening regardless of these naysayers. it is slow sometimes but it is happening.

[xuan87]

I think I understand the concern, there are a lot of challenges coming from technology that improving in a very fast pace and a lot of alt coin that got a various feature that maybe got better feature than BTC, but with a lot of people interested in BTC and the high popularity of Bitcoin, the developers will put Bitcoin in priority so it can compete with other coin and stay on top of crypto, I believe Bitcoin will able to evolve and stay updated

[Kakmakr]

If you look for one moment at the enormous challenges that Bitcoin faced in the last 9 years, you can definitely call Bitcoin, the Cat with a 1000 lives. We had to confront enemies from all sides, from governments on the one side and hostile takeovers <forked coins> on the other.

We had to deal with 1000s of Alt coin competitors and also Blockchain based projects that are constantly being developed. We had to deal with major exchanges that got hacked and millions of dollars being lost. <Angry Buttcoiners & haters>

We had to deal with CEOs of big Fiat institution <Jamie Dimon & Warren Buffet and many more> verbally attacking Bitcoin and Crypto currencies.

Besides all of this, we still continued and we even reached a ATH Bitcoin price of close to $19 000. ^smile^ 

[traderethereum]

bitcoin will have a trouble evolving but I am sure that bitcoin can pass this problem and will rise again especially for the price which will increase higher again in the future. no matter how hard the way, bitcoin can solve every problem and will continue to survive and will be on our side and will give us a good chance to make money. but we need to be aware of the negative news that trying to make bitcoin gets down and down and we need to give our support to bitcoin so bitcoin can move the higher level.

[Pursuer]

bitcoin will always have trouble evolving and improving because it has a lot of enemies who don't want to see that happening ever. that is why a lot of FUD exists on the internet calling bitcoin a lot of negative names including Fraud, Ponzi,... but in the end, all of these are only obstacles on the road that will slow down the progress that will happen because there is a very strong network shaped up in the past 9 years for bitcoin no matter what anybody tries to show otherwise.

[Razick]

Bitcoin will always have a bit of trouble when it comes to keeping up and with the rate at which people are coming into the market now it is no surprise that bitcoin is struggling right now to keep up but one way or another it will evolve to meet the demands of everyone in the market and the price will gradually recocver.

[franky1]

evolving and keeping up, to me thats about being able to be used to pay rent/mortgage, buy toilet roll, food via bitcoin without needing to touch fiat.
(used as common daily medium of exchange)

some people try to pretend bitcoin is evolving.. but then only talk about the price.. well:
anyone can make an altcoin with 5 trillion coins, sell 1 coin for $5 and instantly get a market cap of $5 trillion.. so price is not important
anyone can make a tonne of gold be worth $475493520(thats the price today).. but no one knows or cares about a tonne of gold
what happens is people just buy smaller units

but if gold/altcoin/bitcoin has no real world function.. the desire for it dies, thus the price dies too

so for me the evolution/keeping up. involves ensuring bitcoins MERCHANT adoption doesnt have a 'flippening event' where more merchants use a different coin. because for me. if another coin does gain ground in the merchant adoption. then thats a sign that bitcoins desire/utility/function is in decline

[newBIeT]

I am really amazed and it really feels wonderful when you are reading replies from avid bitcoiners to your post. Such ideas and insights really show how people like you love and care for bitcoin. Though, technically speaking i guess my topic doesn't fall to one of those who are qualified to be a quality post but seeing avid bitcoiners' replies makes everything worth posting and time spending.

Realtalk, from the bottom of my heart. I really appreciate your insights and ideas. Thank you very much! ^_^ Kudos to all avid bitcoiners.

[jseverson]

Keeping up with what, exactly? Sure, Bitcoin may be the oldest cryptocurrency, but has there been another one that can claim to be able to leave it in the dust in terms of technology and support? Each major competitor has flaws, and none really threaten to overtake Bitcoin in the foreseeable future.

Evolution might be slow, but I'd say that's only because there's only a few people working on it. I expect this to change along with the rise of sidechains, which is likely the future of crypto.

[LyQaN]

Not only bitcoin , I fell all the crypto currencies will face trouble simply because many government feel threat from virtual currency , at least in my country they do,secondly the people are not being fully opened to it( in which government also has role). Last year the bitcoin has grown so much and again its declining which did not gave that much shock because everyone using them know about its nature .so ya it will face problems but it will be there and keep on evolving may be at less rate but it will continue to do so.

[timerland]

I have read articles regarding bitcoin, blockchain technology, cryptocurrencies and i have been amazed of what bitcoin have achieve for the past couple of years and its popularity that extended globally. It have reached $19,000 at the last quarter of 2017 (http://www.latimes.com/business/la-fi-bitcoin-20171207-story.html) and now swinging at $7,000 below. Yet, considering that the value of bitcoin is highly volatile its normal that its value fluctuates.

Just recently, Bitcoin have proved wrong the former CEO of Mt. Gox (Mark Karpeles) one of the largest cryptocurrency exchange before, after he stated years ago that "Bitcoin may have trouble in evolving and keeping up". With respect to what Bitcoin has achieve nowadays behind negative articles, negative perceptions it actually proves that Bitcoin is really keeping up and is evolving (and will continue to evolve). https://www.investopedia.com/news/former-mt-gox-ceo-questions-bitcoins-evolution/

Let me know your perceptions avid bitcoiners Your ideas will be highly appreciated.

If he means by keeping up with all the new tech in crypto, then bitcoin doesn't even need to.

Bitcoin's value isn't even determined by how technologically advanced it is. If that's the case then other cryptos would have completely taken over by now, but that's not the case. The thing is, bitcoin does not overpromise about its capabilities. All it is is a currency for conducting payments over the internet without any intermediaries. Even if the software doesn't update at all, I doubt the prices will be affected much in even the next decade. Of course, that's not saying bitcoin will not take steps to evolve. It will continue to do so.

Bitcoin's value is based on its adoption and trust, and it's a lot less speculative than other crypto because people actually use it for commerce.

[talkbitcoin]

Keeping up with what, exactly? Sure, Bitcoin may be the oldest cryptocurrency, but has there been another one that can claim to be able to leave it in the dust in terms of technology and support? Each major competitor has flaws, and none really threaten to overtake Bitcoin in the foreseeable future.

Evolution might be slow, but I'd say that's only because there's only a few people working on it. I expect this to change along with the rise of sidechains, which is likely the future of crypto.

using the word "old" with bitcoin is just silly
bitcoin is the newest technology that is around in financial field. bitcoin is the only cryptocurrency around. the rest are copycats using the same technology as bitcoin with a little twerk which may not even be an improvement just a different change.

[bitbunnny]

The issues will always appear and that is inevitable with everything new that pops up and has to develope. And let's be honest Bitcoin and other cryptocurrencies are still very young. Bitcoin is in position that needs to improve some features but I don't see problem in that. By now Bitcoin has evolved a lot from the begininig when first appeared and I beleive it has enough capacity to keep the position of strongest cryptocurrency.

[franky1]

another part of bitcoin evolution is the floppy disk argument

1995 floppy disk: "i can only hand just over 1mb, you cant store more without a central computer, so dont even try evolving distributed media"
2018 400gb microxd: "if we listened to you the usb/flash industry would not exist and i wouldnt be here.. well i exist and people can hold 285,000 more then a floppy in less physical plastic then the floppy"

if we continue with the 1mb base vs 1gb block argument. blockchains will stagnate.. what the small blockers done to stagnate legacy tx's is say its impossible to go to 2mb then 4mb then 8mb then 16mb over time.. by trying to push the 1gigabyte block FUD

all so they can persuade people the only way forward is co-signed transactions with hubs(banks2.0)
- and dont rebut that LN only needs 1 channel per person. hop model does not work. users need many channels(hub) to ensure reliable service.
- and dont pretend LN has anything to do with blockchain. LN is offchain. like depositing into coinbase where user and coinbase both need to agree to withdraw funds(in laymans terms)
-bitcoin(using blockchain) has stagnated..

 

[NelfiNovita]

I think I understand the concern, there are a lot of challenges coming from technology that improving in a very fast pace and a lot of alt coin that got a various feature that maybe got better feature than BTC, but with a lot of people interested in BTC and the high popularity of Bitcoin, the developers will put Bitcoin in priority so it can compete with other coin and stay on top of crypto, I believe Bitcoin will able to evolve and stay updated

yes, i hope bitcoin is quick to do revolution in a better direction. I want the bitcoin to be more familiar to all human beings on earth. I want the whole country to say that they will accept bitcoin as a legitimate payment tool, I am sure if this happens then bitcoin price will quickly increase.

[Xester]

Bitcoin will never have a hard time to increase its value. We have witnessed the great price drop of bitcoin and to our surprise in just a small amount of time bitcoin has started to recover. This is a sign that bitcoin is slowly but surely going to get back to its former highest value and overtake it. This meand that in terms of value bitcoin is really keeping up.

Also bitcoin is starting to evolve. It is already noticeable that bitcoin is already attracted many investors that will accept bitcoin as a mod of payment

[vipaleks]

I think that there will be no problems, everything is solved.

[richjohn]

When bitcoin was revolving around 1000-1200$, did you ever even think in your wildest dreams that it would reach 20k$? It didn't look possible to anyone. Everyone was calling it a b able waiting for it to burst. The price crashed and went as low as 5k$, but even after that price made a miraculous recovery and it just shows how much potential it has. It has been able to keep this price constant and I don't think it will have trouble reaching up further.

[bobo012]

I think that there will be no problems, everything is solved.

There will always be problems, but we will overcome them. To not have the problems means it is uninteresting and not evolving.
Bitcoin is getting bigger, and gaining more interest, which means more problems, which he will deal with in the end