Future of Bitcoin

[Andromedus44]

I don't think Bitcoin is ever going to die out, it is a great store of value and the owner has true ownership of their money as long as they retain access, whether it be a hardware wallet or on a decentralized exchange. As long as they hold the keys and follow safe security. But a lot of these guys are right, BTC needs to go away from PoW, mining takes up too much electricity imho, and I used to have hundreds of them. I'm not sure if PoS or masternodes is the best option, or rather I'm not sure which one.

[Herbert2020]

I agree with most of the things you say in this topic. If PoW continues in bitcoin, it is surely going to die, PoW already uses too much power and pollutes the Earth a lot if it grows exponentially
When the fees were 10-20$, that sucked so much. The people I told bitcoin about it were pretty bummed that they had to pay 10-20$ to send a transaction

PoW is not going to die soon

But if Bitcoin really aims to become a world money used as a universally accepted means of payment as well as a store of value, the PoW is simply inadequate for this purpose in mind. And it is not so much about waste of energy (though it is an important factor and concern on its own) as about too much power being concentrated in too few hands. I refer to miners here. Bitcoin is said to be about decentralization but Bitcoin mining as we know it today is anything but

you are wrong about mining being centralized because you are confusing mining pools being in a small number with actual miners with mining hardware which are in the thousands and are from all around the world so it is decentralized.

as for PoW, i agree that it is not perfect but compared to all the algorithms it is the best thing that we can have. the flaws in others are more so the downside is worse. as a result unless someone comes up with a decent algorithm, PoW is not going anywhere and it has nothing to do with power consumption.

[letecia012]

Since I got more knowledge about Bitcoin and Crypto and all that Blockchain stuff I am thinking about it's future. I'm sure, that those crypto/Blockchain Coins will be part of the Future and that maybe they will replace Fiat. But at some points I'm thinking that the Coins which will lead the future won't be the Bitcoin. The Bitcoin is the native Coin, and the most important at the moment. But in some Points I don't see the Future in Bitcoin.

1. During the Hype the transactions costs where at 10$, who wants to pay 10$ if he want to buy a coffee in the coffee shop around the corner. Furthermore the confirmation of those transactions were very slow. It took too much time for daily usage. Sure, Lightning should solve the problem, and all ppl which are involved in it are saying what a nice technic and that it will be the Future. But the not technic customer has no idea how to use it.

2. In my opinion POW-Systems are also not sustainable for the future. In a world where sustainability and environmental friendliness gets more important, POW is a waste of energy. And, it's not even profitable anymore.

3. Decentralization, the best argument for Bitcoin is the decentralization. But it can also be used against the Bitcoin. Because it isn't as decentralized as it should. 5 Pools would have more than 51% of the total hash rate. It sounds not real, that they would do a 51% attack on BTC, but nobody says that it won't happen in the future.

All those are points against the Bitcoin, but I would like to know what you think about.

I do agree as bitcoin price increasing its transaction fee krep increasing also and it should be a burden to the user to pay 10-20$ everytime it execute a successful transaction. In my own opinion xrp would be a good alternative crypto coin though its not decentralized its transaction speed is really fast and transaction fee is very low.

[deisik]

PoW is not going to die soon

But if Bitcoin really aims to become a world money used as a universally accepted means of payment as well as a store of value, the PoW is simply inadequate for this purpose in mind. And it is not so much about waste of energy (though it is an important factor and concern on its own) as about too much power being concentrated in too few hands. I refer to miners here. Bitcoin is said to be about decentralization but Bitcoin mining as we know it today is anything but

you are wrong about mining being centralized because you are confusing mining pools being in a small number with actual miners with mining hardware which are in the thousands and are from all around the world so it is decentralized

You don't know that for certain

Well, we kinda know there are thousands of independent miners across the world but what is their hash rate? How do they stand in respect to mining capacities which belong to mining pools themselves? Strictly speaking, how do we ever know at all that there are these many thousands of miners in the first place? Besides, you can be damn sure that all Chinese mining pools are controlled by the same people. It is sort of a given

as for PoW, i agree that it is not perfect but compared to all the algorithms it is the best thing that we can have. the flaws in others are more so the downside is worse. as a result unless someone comes up with a decent algorithm, PoW is not going anywhere and it has nothing to do with power consumption

It is not about other technologies being sub par, it is about PoW itself not being suitable for anything that could ever count as a remote resemblance to a world money

[TitanGEL]

With the current price and situation of things, most people think of the future of bitcoin as very bleak. However, with the daily improvements, general acceptability and  investments in bitcoin by people, I can tell you that the future of bitcoin is very bright.

Your prediction does not really say the real status of the market and its future.
It's only coming from us, and if we believe the future is bright then we have a good reason to stay and be calm.
Looking at the price now, market is not good but we should not focus on the price alone, we focus more on the fundamentals.

The future of the bitcoin is depend on us. If we keep supporting it then the futute that waiting for us is good. We should not lose our faith on believing bitcoins because it is now proven that its value is continuing rising as time passing by.

[Gheka]

I am very sure that bitcoin will have a very good future, bro. even though the price is now down surely there will be time to rise again. the important thing is that we have to be patient.

Well, and I am sure that what you are sure is no concrete evidence, everything just comes from your belief in bitcoin, and of course I will not believe in the future of bitcoin that you say because the future is something without guarantee, we can not be sure or assert anything in the future. But you say exactly one thing is that we need to be patient when we face value of bitcoin at the present time, although things are still very bad and not optimistic for bitcoin but as long as positive factors appear in the future, bitcoin will increase again and our loss will recover.

[xWolfx]

the future of bitcoin is still not visible to the eye, we can only enjoy it every day and year and I assume that bitcoin will someday advance in the future

No one knows cause we don't make its future alone but the entire community who create its future either be more brighter or staying in dark.
We its journey continue to roll, many changes happen and in a certain thing that we can't eventually speculate the right destiny for this thing. For the main time, we just enjoy and get used for these new technology.

It's truth. What we can do as individuals if we want to help Bitcoin's future is hold and advertise a bit sometimes. People with enough resources could host a Bitcoin node the instructions are in the main website Bitcoin.org. Make sure that your internet plan is not based upon bandwidth spent or calculate those expenses accordingly.

Other than that how can we possibly know? If it's the entire community who will decide that future.

[jake zyrus]

I believe that the future if bitcoin is really brighter than today. Bitcoin will become more useful in the near future because of the continuous growth of the people who use internet and I believe that someday bitcoin will become the most amazing way of payment and investment and many people will surely earn on it.

Me too I believe that future of bitcoin it become more progressive it give us more brighter future that give us successful life. The people who use in internet are growth cause they want to join in investing in cryptocurrency a bitcoin and earned more profit and I also believe that bitcoin in future is more useful in terms of payment.

[goldexp83]

I think the future is pretty promising! if we looked at the behind the scene investments and money:

-cb insights states a record for blockchain investments by venture capital in 2018
-many institutional players are about to enter from Nasdaq to Fidelity
-many projects working on scalability like Lightcoin and new protocols like grin

its never been the best time to get in crypto!

[brokens]

I see that there are currently many people who use Bitcoin as a form of payment in shopping or other businesses, but why can the price of Bitcoin still not can rise high while many developed countries have allowed Bitcoin as a transaction asset in the shopping trade? I think the future of Bitcoin will be bright if the price of Bitcoin can recover and the price of Altcoin is too follow is recover in the market.

[dablatair]

Hello,

I'm sure we are finally just at the beggining of crypto use and development. We have more and more applications and usage and finally just a small part of the population use it. It will come step by step, applications, people, institutions then it will be use by almost all because it has so many advantages.

[amonymous]

bitcoin is a only one coin which is to the investor Encourages to keep invest.It could they say get good profits from investment in bitcoin and give plays a lot role.Bitcoin has reached to the hands of people in many countries now.so it can be said from bitcoin will be used in many ways in the future.

[mostcrack]

although for now the market situation is not good, which results in some people complaining and giving up. but my view of bitcoin in the future is the same as it used to be, which will continue to grow with time. because now more and more people are familiar with bitcoin, and there are also many who use bitcoin as a means of payment.
it's only a matter of time, we'll see how many people are sorry, because they give up in the difficult phase like now.

[Pab]

Bitcoin sidechain is under active develompent
Bakkt will launch when all that issue with US shutdown will end
Bakkt will serve Bitcoin mass adoption and will create demand from worldwide merchants
Bakkt will cover transaction cost
Fidelity is going to launch in March.Big investors needs secure platform to invest and store his digital assets.Whatever people think Bitcoin is recognized like a good  alternative investment opportunity
I am not talking even about ETF one day it will come


So taking all of that under consideration i see Bitcoin has future

[Apocalypsis]

Bitcoin sidechain is under active develompent
Bakkt will launch when all that issue with US shutdown will end
Bakkt will serve Bitcoin mass adoption and will create demand from worldwide merchants
Bakkt will cover transaction cost
Fidelity is going to launch in March.Big investors needs secure platform to invest and store his digital assets.Whatever people think Bitcoin is recognized like a good  alternative investment opportunity
I am not talking even about ETF one day it will come


So taking all of that under consideration i see Bitcoin has future

Are you referring to liquid? Was thinking Blockstream may use other coins as sidechains. What do you guys thing?