Your thoughts about Bitcoin in years to come

[Piggymonster]

What will life after the dump of fiat looks like?
I'm also this kind of believer about bitcoin and blockchain before but we have to realize that not every country is set to adopt bitcoin as a replacement to the usual money system that we have.

I quite agree on this, in the developed countries bitcoin has become viable currency and some merchants are now accepting it as a payment for a product or service. Bitcoin has a large user base in this rich countries but how about in the developing countries? I think only a small fraction of people knows it and have experience with it.

What is your prospect about Bitcoin in the next century?

If by chance I'm still alive by that time. It's really unknown, technology is very quick in upgrading and just like how bitcoin has taken a lot of attention from different masses. There can be another the same thing that might emerge but for now, it's sure that bitcoin is here to stay.

Century is too far to discuss, all i know that bitcoin is constantly evolving and that is good news.

[Masplanc]

What will life after the dump of fiat looks like?
What is your prospect about Bitcoin in the next century?

Yeah. We all can see how Bitcoin is becoming purpular rapidly everyday , everyone talks about Bitcoin and everyone who knows what Bitcoin is all wants to roll with it because they see the future in Bitcoin and they understand where Bitcoin is going. Even on how Btc is elevating it cant dump fiat because fiat is the property  of the government.

[pooya87]

They will be unbelievably scarce, even if you want to buy 1 whole Bitcoin let alone
Satoshi's you wont be able to. Think about it there are just over 20,000,000
millionaires in the world so even if every single one of them wanted to own 1 whole
Bitcoin it is numerically impossible for them to do so.

This will never happen in my opinion because for starters bitcoin is already distributed among many individuals, so there won't be a handful of millionaires holding bitcoin tightly not selling or using it ever. There will always be a liquid market with increasing liquidity where anyone could go and purchase any amount of bitcoin granted they have the money to pay for it.

You also forget that bitcoin is a currency before anything else. And I believe that eventually we will reach mass adoption (maybe in 10 to 15 years) and by then value will be very stable creating more incentive for bitcoin to be used as a currency instead of some investment to make you rich. That means another type of increased liquidity.

[Poker Player]

You also forget that bitcoin is a currency before anything else. And I believe that eventually we will reach mass adoption (maybe in 10 to 15 years) and by then value will be very stable creating more incentive for bitcoin to be used as a currency instead of some investment to make you rich. That means another type of increased liquidity.

It is indeed clear to me that you are sure that it is a currency before anything else (I'm just half convinced yet).

How do you think it can support a billion transactions a day or more? With LN or another second-layer solution? Even with LN you have to open channels in the blockchan and I remember reading an explanation from o_e_l_e_o some time ago pointing out that, because of this, even with LN a massive worldwide adoption couldn't be supported by the blockchain.

[TheNineClub]

I haven't seen any research that is suggesting that FIAT would be dissolved and not in use anymore. At best we can see crypto and FIAT coexisting in the same space. As for Bitcoin, I doubt we will be seeing a 'One ring to rule them all scenario' because today's crypto space is being filled with numerous coins that present a value to the consumer that Bitcoin doesn't, most importantly in the technical aspect. I think Bitcoin would not thrive the way it does if it hadn't been for other projects in crypto, and I believe it to be so in the future.

[o_e_l_e_o]

Even with LN you have to open channels in the blockchan and I remember reading an explanation from o_e_l_e_o some time ago pointing out that, because of this, even with LN a massive worldwide adoption couldn't be supported by the blockchain.

Here's the post in question: https://bitcointalk.org/index.php?topic=5343858.msg57236745#msg57236745

There is some good discussion on that thread regarding future developments such as Eltoo and Channel Factories in the first couple of pages before it gets derailed. My general feeling is that obviously Lightning could not support global adoption yet because of onboarding/offborading reasons, but also, it does not need to yet. There are a number of things currently in development, and I'm sure more far more to be proposed over the next 10 years, that can make opening and closing channels more efficient or less necessary. Whether or not we also need some changes to the base layer to support this is yet to be seen I guess.

[Yamifoud]

Well, we have to expect some changes but it was unlikely to see Bitcoin will rule the world.
Fiat money will still widely use globally while Bitcoin is still a payment option. And might be possible that Bitcoin will even replace by another but not fiat. We saw that some big companies are adopting Bitcoin but this is not literally mean we are waving away to use fiat anymore. As long as not all transactions are accepting Bitcoin or any cryptocurrencies (offline transactions), we can hide the reality that fiat will still be in major use.

[Gosgosking]

I just know everyday Bitcoin is getting more popularity I believe the volatility nature will still be constant in  the up coming year. One thing is that no one can predict about Bitcoin. But whatever I'm still waiting to see  how Bitcoin will roll in years to come.

[Anguwa]

I am new to the Bitcoin but I am having a conviction that Bitcoin is going to rule the world very soon seeing the may people are approaching Bitcoin every single day to invest in it. I may not be correct now but I know some day every nations of the world will dump the paper money and go for something better like the Blockchain world in running business  and everything.

Bitcoin and the Blockchain interface is changing the world entirely into a better cycle that will reduce stress we do undergo in bank when we need our money. The library, market, store, Fast food, transactions are now turning into digital which will help the Blockchain and the Bitcoin market to spike more than what we are seeing now.

What will life after the dump of fiat looks like?
What is your prospect about Bitcoin in the next century?

There is no doubt that bitcoin will rule the entire word, it's just a matter of time. Bitcoin has a great capability and popularity to rule the entire world as fiat will find its way out because it will have less value. Take for instance this year 2021, if bitcoin is not strong enough to withstand all market situations it will have been completely down by now, but even as countries like China and Co are given more restrictions to their citizens, Bitcoin is still rising and will keep growing because it will rule the world.

[willhuber]

It is difficult to predict the future of Bitcoins. Currently, it’s hot, and we should make the most out of it.

[GeorgeJohn]

Actually many people have had this perception that cryptocurrency especially bitcoin will rule the world, the problem is that bitcoin is not meant to take over a fiat currency or any other currency, and also bitcoin is not a ruling counsel that handle power, many people contradictory bitcoin, i can only said that bitcoin have it function, really is a currency that has influence within short time frame of it's existence, so that doesn't grant bitcoin to dominate fiat currency in name of of ruling the world, i will say it's a misconception of idealogy, because fiat is a currency which every country has it own and that doesn't mean that fiat is ruling the world.

[Oceat]

I just know everyday Bitcoin is getting more popularity I believe the volatility nature will still be constant in  the up coming year. One thing is that no one can predict about Bitcoin. But whatever I'm still waiting to see  how Bitcoin will roll in years to come.

It would be the same as what it is in the past but the only difference is the price value of it.

And I don't think every country would abandoned the use of fiat in the future since not everyone will most likely to accept or learn how Bitcoin works. I would rather believe that Bitcoin and fiat will be working together than abandoning the other one. The government will do something if this is their worst case scenario then expect a better regulations soon.

[Darker45]

I am not sure if Bitcoin will indeed rule the world in the future. It will become more utilized, of course, with the help of off-chain systems. It will also become more acknowledged as a digital gold and therefore an asset worth keeping. But I don't think it will reach a point in which it will totally replace fiat.

Fiat will evolve itself. It will definitely take a lesson or two from Bitcoin's success. It might one day become a currency built on blockchain. But I'm afraid it will not be completely wiped out, much less due to Bitcoin.

[traderethereum]

I just know everyday Bitcoin is getting more popularity I believe the volatility nature will still be constant in  the up coming year. One thing is that no one can predict about Bitcoin. But whatever I'm still waiting to see  how Bitcoin will roll in years to come.

The volatility will be part of the bitcoin price but that will not stop the price from reaching higher in the future so we should use the volatility to our benefit.
The existence of bitcoin in real life can change people's lives, especially if they can use bitcoin for their investment and only sell their bitcoin at a higher price.
If they can do that, their life will change for the better and of course, they will have more opportunities to survive.

[Piggymonster]

What will life after the dump of fiat looks like?
What is your prospect about Bitcoin in the next century?

Yeah. We all can see how Bitcoin is becoming purpular rapidly everyday , everyone talks about Bitcoin and everyone who knows what Bitcoin is all wants to roll with it because they see the future in Bitcoin and they understand where Bitcoin is going. Even on how Btc is elevating it cant dump fiat because fiat is the property  of the government.

Yes I agree. While bitcoin has been embraced and recognized as valuable as an investment and income generating currency but it still required more support from government to be declared as legal tender and will replace the fiat money.  Fiat money has value because the government  has issued it and declared as legal tender, it still can't be dump yet.

[witcher_sense]

Yes I agree. While bitcoin has been embraced and recognized as valuable as an investment and income generating currency but it still required more support from government to be declared as legal tender and will replace the fiat money.  Fiat money has value because the government  has issued it and declared as legal tender, it still can't be dump yet.

Fiat money has had value so far because all other better means of exchange that were always available for people have been prohibited or restricted by the governments. However, precious metals, while being good instruments for exchanging value because of their properties and limited supply, can hardly serve as money today because you can't send them electronically, they are heavy, poorly transportable entities. Moreover, being of physical nature, they seem easy to steal or confiscate, which is what happened when governments decided they want the gold standard no longer. Now we have bitcoin that possesses useful monetary properties of precious metals while being a digital currency that is out of control of governments. Bitcoin doesn't need to be coercively imposed on people nor does it need to be protected by dubious legal tender laws. People should naturally come to the conclusion that bitcoin is the best form of money we have ever had or could imagine.

[Piggymonster]

Fiat money has had value so far because all other better means of exchange that were always available for people have been prohibited or restricted by the governments.

What are these kind of medium that are much better and always available to people than fiat? How come these are prohibited?

However, precious metals, while being good instruments for exchanging value because of their properties and limited supply, can hardly serve as money today because you can't send them electronically, they are heavy, poorly transportable entities. Moreover, being of physical nature, they seem easy to steal or confiscate, which is what happened when governments decided they want the gold standard no longer.

It is because the government sees so many disadvantages using gold as a standard monetary system that is why it failed.  One is what you have mentioned above, it is cumbersome to carry gold to pay for certain transactions. Gold could also be manipulated, people can hoard and it could limit the money supply.

Now we have bitcoin that possesses useful monetary properties of precious metals while being a digital currency that is out of control of governments. Bitcoin doesn't need to be coercively imposed on people nor does it need to be protected by dubious legal tender laws. People should naturally come to the conclusion that bitcoin is the best form of money we have ever had or could imagine.

But bitcoin is not widely accepted yet, some countries are already closing thier doors to this cryptos. How can ordinary people use it if the that country's government declare it is illegal?

[o_e_l_e_o]

Fiat will evolve itself. It will definitely take a lesson or two from Bitcoin's success. It might one day become a currency built on blockchain.

I doubt it will ever be based on a blockchain, or if it is, it will be a blockchain which is entirely centralized and entirely under governmental and/or central bank control. There are multiple proposals and plans for central bank digital currencies working their way through various stages of exploration, planning, legislation, etc., around the world, but they all have one thing in common - they are entirely centralized. There is no way the government or the central banks will give up the one thing that keeps them functioning and solidifies their power, which is the ability to print money and control its circulation.

Gold could also be manipulated, people can hoard and it could limit the money supply.

Fiat is much more easily manipulated. The difference is that it is the government which can manipulate fiat, which of course the government thinks is absolutely fine. But if you introduce a currency for the people that the government can't manipulate, such as bitcoin, well then the government starts to take issue with it.

[worle1bm]

I know some day every nations of the world will dump the paper money and go for something better like the Blockchain world in running business  and everything.

It's very possible that in the near future, no fiat money will exist in our hand. Everyone will use cryptocurrency but what's that exactly? I mean which one will be used? Well, every nation won't dump fiat money. Govt will introduce centralized govt currency which will have no much advantage for people supporting bitcoin. The model will more likely be USDT or other stablecoin peg to fiat money.

Yes fiat will not be disappeared but simply be used less as digitalization will prevail completely as we have already seen after pandemic digital payments have increased as people fear to take cash to avoid touch contact and near future most of the shop's will have qr code displayed and you can pay them with btc or other crypto coins on their address or the CDBC will be issued by many government as tokens for cash which can be used to buy stuff in market as legal cash.So we can say that both fiat and crypto will be used side by side and slowly fiat will lose its importance and trust from the people.But this will still take lot of time.

[Daniel91]

Guys, be aware that the world is ruled by politicians and not ordinary people, and what politicians do not want at all is the loss of control over all aspects of our lives.
I'm sure they don't like bitcoin for the simple reason that they have no control over it, but because of the great popularity of bitcoin in the public, they are forced to tolerate it and regulate it to some extent.
Given the obvious benefits of digital currencies, I'm sure we will see the digital euro, digital dollar, digital yuan and many other national currencies in the future.
Bitcoin will remain an alternative but I'm sure it's not realistic for bitcoin to replace these other popular world currencies, for the simple reason that politicians and bankers will never accept it.
For business people, bitcoin will always be unacceptable as a means of payment due to a lack of legal protection and central control.