Your thoughts about Bitcoin in years to come

[Piggymonster]

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.

Yes I agree that fiat money can be manipulated like if the government will print too much and we will have excessive money supply then hyperinflation might also occur. However fiat money became only valuable because the government says it does and people agree and recognize its value and use it as a currency. It is the same with bitcoin,  people believe it so hence the demand continues to grow but if people prefers to use bitcoin over fiat I doubt government would not intervene.  

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[Darker45]

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.

Yeah, of course, of course. It is going to be centralized. That's 100% expected from the government not only because the control over money is the source of all power but because the current economic structures are highly founded upon a system in which the government has the authority over monetary decisions. Otherwise, the entire economic paradigm has to shift. But the efficiency of the use of the blockchain technology might be the primary reason why governments and their central banks will embrace it.

[o_e_l_e_o]

but if people prefers to use bitcoin over fiat I doubt government would not intervene.

Governments are already intervening because they are scared of what bitcoin could achieve. China banning it eight times.* The US government passing draconian and impossible-to-comply-with reporting laws.

But the efficiency of the use of the blockchain technology might be the primary reason why governments and their central banks will embrace it.

A blockchain is only efficient when you need a distributed database. If you are going to have control centralized to a single party, such as a commercial bank's individual ledger of customer balances, or a central bank's balance sheet, or a government's accounts, then you don't need a blockchain. A standard centralized database is far more efficient in these cases.

*Is it eight? Is it more? How can you ban something eight times? All you are doing when you ban something multiple times is proving that every time you've tried to ban it you have failed. Such is the censorship resistance of bitcoin.

[Piggymonster]

Governments are already intervening because they are scared of what bitcoin could achieve. China banning it eight times.* The US government passing draconian and impossible-to-comply-with reporting laws.

China banning bitcoin 18 times according to this article https://www.wired.co.uk/article/china-ban-bitcoin-cryptocurrencies Governments are starting to get serious about banning bitcoin so this is the answer to what this thread is all about, bitcoin to rule the world and dumping the paper money,  it is still hard to realize if that will happen one day because other country like China are now declaring it illegal.

*Is it eight? Is it more? How can you ban something eight times? All you are doing when you ban something multiple times is proving that every time you've tried to ban it you have failed. Such is the censorship resistance of bitcoin.

https://www.google.com/amp/s/fortune.com/2021/09/27/china-bitcoin-ban-crypto-crackdown-price/amp/ It is said in this article that China is getting serious right now about banning bitcoin, no room for discussion, no gray areas.  I agree with you, Banning it multiple times clearly denotes that bitcoin has the potential to destablized the existing financial infrastracture that the governments are wary about it. The government use its power to prevent anything that is threat to their governance, how can ordinary people resist?

[Fivestar4everMVP]

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?

Personally, I see bitcoin, blockchain and crypto currencies in general as God's way of liberating his people from all the oppressions and manipulations of our leaders, God has through blockchain technology removed power in the hands of our leaders and given it back to the people.
And this is why I totally believe that, be it china, america or any other country in this world, non of them can stop this revolution, blockchain and bitcoin is here to say, their banning can only affect the market for a short time, like what we recently experienced when China claimed to have banned all crypto transactions calling them illegal, bitcoin went down, but today, it's up more than over 30 percents, which shows that their ban  or any other countries ban does not really have any effect, bitcoin and crypto in general has not arrived at all.

[ReiMomo]

Once BTC reaches 100k, the market is going to expand. Many would start using it as an asset and currency as well.  Govts around, should open themselves to welcome crypto currency in their countries as a payment and we all will be seeing ATMs for BTC and for other crypto currencies as well. 

Those who pile up their pocket with more BTC , will certainly earn more money.

[CryptopreneurBrainboss]

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

Neither the fiats or banks are going anywhere in the next decade or so, we're yet to achieve full global adoption and that's just the sad truth. As an enthusiast I want the best for the industry just as majority of us do but we can't achieve this by just hoping. The fiats will just be deployed digitally that's the best the government can do. Already we seen news of some countries developing their own digital currency and soon other countries will follow through as they won't be giving up power so easily.

The flats will be with us for a very long time so there won't be any need of fantasizing how life will be without them, even if that was to happen that wouldn't be in our generation or that of our children maybe the next generation. The world is going digitalized and so will currency but its centralized features will still be constant.

Both Bitcoin and fiats can coexist, then we're free to use that we have trust in more but know this, the government will keep portraying Bitcoin as the bad guy.

[rosemariefrancis]

It is very true that some regions of the world will not be affected if there is no crypto in their economy, because the people living there are not aware of it.