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Author Topic: The life span of bitcoin is till infinity  (Read 1060 times)
GeorgeJohn
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August 30, 2021, 02:41:34 PM
 #1

When i flashbacks far 2013 and 2014, within that range far back i remember how people were castigating bitcoin as a means of extortion of money, and also a means of scamming peoples money, but today everyone is interested to invest in cryptocurrency and more especially in bitcoin, because from what i observed from little bitcoin seminar program i hosted in my geographical domain even a nursing mother that is approximately forty to forty eight (40-48) years is interested to invest with bitcoin and children in school is already knows what is bitcoin, so with this length of bitcoin awareness in my society i think BTC can stay till infinity.

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August 30, 2021, 02:50:32 PM
 #2

You can't just use your own personal anecdotes about the rising popularity of something that conclude that it means that Bitcoin will exist forever. That's not how society and technology works. Countless technologies that were once widespread have became artifacts of the past with today's kids and young adults having no idea how to operate  them. Bitcoin hasn't even became widely used yet, yet a lot of Bitcoiners are treating it as if it's already one of the fundamental technologies of the world.

So many things can change in the future, a completely new and unforeseen form of money could emerge, or maybe there will be a better cryptocurrency, or crypto as a whole could just fail to achieve popularity. You can believe and hope what you want, but you can never be certain in anything.

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August 30, 2021, 03:00:39 PM
 #3

I have no doubt about Bitcoin's popularity in recent years with interest that is constantly growing at a fast pace but just as @hatshepsut93 just said, there's no way to tell if bitcoin would be around till eternity. As with everything in life, nothing is 100% certain. There's still talks about how quantum computers might break bitcoin if nothing is done to combat the impact when those next generation computers go live. My best guess is that we should just ride the bitcoin wave for as long as possible.

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August 30, 2021, 03:03:54 PM
 #4

More like till there's human or rational beings that see the value of crypto exist, well technically forever but that's the more appropriate or fitting timeline for bitcoin since what's it's use if it exists in the void.
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August 30, 2021, 03:17:18 PM
 #5

Bitcoin come a long way, for how many years now and yet still here making good progress and continue to strive for another feat of success in terms of price and future mass adoption on global scale. Both bitcoin as good and bad sides, well it all depends on people on how to use it but majority of people look to it as a future payment system that will give us financial freedom in the future.

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August 30, 2021, 03:18:28 PM
 #6

When i flashbacks far 2013 and 2014, within that range far back i remember how people were castigating bitcoin as a means of extortion of money, and also a means of scamming peoples money, but today everyone is interested to invest in cryptocurrency and more especially in bitcoin, because from what i observed from little bitcoin seminar program i hosted in my geographical domain even a nursing mother that is approximately forty to forty eight (40-48) years is interested to invest with bitcoin and children in school is already knows what is bitcoin, so with this length of bitcoin awareness in my society i think BTC can stay till infinity.
I would rather say that there is nothing like infinity but at the end of the day people have to realize that if they do make sure that things are updated on time and if they make sure that people respect the whole system then at the end of the day there is nothing that needs to be discarded and especially bitcoins since bitcoins is way evolved as compared to today's time and at the same time we will have to make a lot of changes in the lightning network because there are a lot of business which are very open towards bitcoins therefore I do think that this can happen but it depends on government, people, modifications that might be on the way.
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August 30, 2021, 03:22:05 PM
 #7

More like till there's human or rational beings that see the value of crypto exist, well technically forever but that's the more appropriate or fitting timeline for bitcoin since what's it's use if it exists in the void.

as long as there will be users of BTC.  it could become rare though because if we all see BTC as investment, it will be kept as their most valuable possession.

reports already are saying that BTC are withdrawn from exchanges going to private wallets. hoarding BTC will continue until maybe people cant afford it anymore.
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August 30, 2021, 03:24:17 PM
 #8

There is no doubt that bitcoin has gained recognition as the year rolls by and many people are investing in it every day. Bitcoin will continue to exist alongside the world.

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August 30, 2021, 03:41:13 PM
 #9

<...>
I do think that this can happen but it depends on government, people, modifications that might be on the way.
Lol.... government, we all knows that government don't have power over long stays of bitcoin, because nations can't come together today to ban bitcoin except a situation whereby a particular country restrict their people living in the same geographical environment to not transaction with bitcoin, it's very understandable to us that many countries has tried to ban bitcoin with so much allegations used to back it up but it could stand, so from observation provided that Gold and fiat cant be ban forever The hope is also there that bitcoin can't be ban, so therefore the life span of the above mentioned is correlated to the Life span of bitcoin from my perspective.

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August 30, 2021, 03:49:07 PM
 #10

Infinity is clearly an exaggeration. Nothing will last until infinity. Bitcoin will not stay until forever. We cannot even be sure if Bitcoin would remain to be around after a century or two. We believe that Bitcoin is the future but who actually knows what the future brings? Nobody. We could only guess about Bitcoin still running after a hundred years but who knows about the technology at that time? Perhaps there will be a lot of changes that affect the existence of Bitcoin.

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August 30, 2021, 03:55:52 PM
 #11

When i flashbacks far 2013 and 2014, within that range far back i remember how people were castigating bitcoin as a means of extortion of money, and also a means of scamming peoples money, but today everyone is interested to invest in cryptocurrency and more especially in bitcoin, because from what i observed from little bitcoin seminar program i hosted in my geographical domain even a nursing mother that is approximately forty to forty eight (40-48) years is interested to invest with bitcoin and children in school is already knows what is bitcoin, so with this length of bitcoin awareness in my society i think BTC can stay till infinity.
This is not precisely accurate, I will say that the period of life of bitcoin is undetermined, when the project was just starting out Satoshi had legitimate concerns about how long bitcoin could last, but after it was able to overcome that phase we can say that we do not know how long bitcoin is going to last, now the fundamentals of bitcoin are incredibly strong and this makes me very confident that it is going to last for many decades or even centuries, but we need to recognize that maybe at some point in the future another Satoshi appears and creates an even better coin and then people decide to adopt it instead of using bitcoin.

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August 30, 2021, 05:22:32 PM
 #12

...but we need to recognize that maybe at some point in the future another Satoshi appears and creates an even better coin and then people decide to adopt it instead of using bitcoin.

Even if satoshi appears and create a coin that he will claim is even better, it cannot still force people's adoption. We all witnessed and are witnessing the transition period of bitcoin where it has moved from non acceptance and skepticism to now acceptance and even adoption by some individuals and nations. Before bitcoin has gotten to this stage, it has built a really strong reputation for it self over the years. For another coin to just appear and be adopted instead of bitcoin, the coin needs to gather and have a better reputation and long standing like bitcoin.

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August 30, 2021, 05:30:48 PM
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 #13

We don't know that, along the way we might see the real bitcoin killer that will eventually replace bitcoin as it replaced traditional investment tools, I think that infinity is a pretty big and most exaggerated word there is because people use it like it's nothing and not even thinking about what could happen along the way and all of it's possibilities there is.

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August 30, 2021, 06:01:24 PM
Last edit: September 01, 2021, 05:51:50 PM by Sterbens
 #14

Very easy to understand for children where you explain it using simulation of their daily activities?
Gradually, Bitcoin will surely be increasingly known by all circles, even in the future learning in schools about finance in Bitcoin will become one of the economic materials. Possible

Along Bitcoin's journey to worldwide recognition, there have been pros and cons. We see that year after year. Maybe if the Bitcoin rejection graph in the countries has seen a drastic decline.

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August 30, 2021, 06:13:48 PM
 #15

We don't know that, along the way we might see the real bitcoin killer that will eventually replace bitcoin as it replaced traditional investment tools, I think that infinity is a pretty big and most exaggerated word there is because people use it like it's nothing and not even thinking about what could happen along the way and all of it's possibilities there is.

We really don't know the lifespan of bitcoin as it is hard to know what the future will be 50 or 100 years from now.
The possibility of creating another technology that will beat bitcoin is always there.
We can't declare that bitcoin will last infinity because technology evolves thru time.
So just enjoy that right now, we are experiencing the benefits of what bitcoin is bringing to crypto users.
It may last for another 10 or 20 years, but stating that it will last infinity maybe an overstatement.

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August 30, 2021, 06:47:50 PM
 #16

well i think that talking about what lifespan of bitcoin is to infinity is a big exaggeration, first we have to look at the problems people complain about bitcoin and the solutions that the competition offers, i speak of a concrete example about transaction fees for example: bitcoin has a higher transaction rate than some altcoins and that's not good, more and more people will be looking for something faster and cheaper, I know some people will argue that bitcoin is a good store of value and why this will stay to infinity, but forget that if we don't use bitcoin as a means of payments on the day that bitcoin volatility is no longer super high, people will leave bitcoin

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August 30, 2021, 06:53:28 PM
 #17

When i flashbacks far 2013 and 2014, within that range far back i remember how people were castigating bitcoin as a means of extortion of money, and also a means of scamming peoples money, but today everyone is interested to invest in cryptocurrency and more especially in bitcoin, because from what i observed from little bitcoin seminar program i hosted in my geographical domain even a nursing mother that is approximately forty to forty eight (40-48) years is interested to invest with bitcoin and children in school is already knows what is bitcoin, so with this length of bitcoin awareness in my society i think BTC can stay till infinity.

Nothing has really changed since that time, we see it often in the news that it is still being used to extort, scam and blackmail. That is both part of the benefit and the curse of having a somewhat anonymous currency. The fact that institutions hopped on board the Bitcoin train and legitimized it has helped greatly, however the criminals who pull such tricks will just move on to other cryptocurrencies that have less traceability. You need to understand the difference between speculating and investing - just because you put some money into an object, with the hopes to sell it to someone else at a higher price and little theory as to why it would go up, does not necessarily make it a (wise) investment.

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August 30, 2021, 07:00:44 PM
 #18

...but we need to recognize that maybe at some point in the future another Satoshi appears and creates an even better coin and then people decide to adopt it instead of using bitcoin.
Even if satoshi appears and create a coin that he will claim is even better, it cannot still force people's adoption.

You know, a lot of alt's are forked from Bitcoin, Bitcoin is the parent of them, so could a child overtake the parent if it hasn't any superior power! Bitcoin is building and raising its trust science 2009, can you imagine almost 12 years has been gone to come at the current position.
But you can't deny the possibility, Not only Satoshi, even if you will appear with a coin that is better than Bitcoin then the community will accept that. But it will not likely to happen within a glance, the reason I explained above.

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August 30, 2021, 07:02:10 PM
 #19

Recently met a person aged 65+ discussing about bitcoin. On further discussion he said he has got a demo account and keeps on trading. His son in law have introduced him about bitcoin. Now it is clear to see bitcoin usage among all levels of people. Once it was much used by the young generation. As in the quote now the age group of 40+ is focusing on cryptocurrency. These are people who had spend most of their days and earnings on stocks and gold.

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August 30, 2021, 08:41:47 PM
 #20

What we know about its life is it's here to stay.

We cannot have the exact life span of it but as long as we're here and it is here, then that makes bitcoin here to stay. The phasing is smooth yet not so quick.

But this is what we like to see as adoption increases.

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