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Author Topic: Your thoughts about Bitcoin in years to come  (Read 203 times)
Piggymonster
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October 14, 2021, 01:47:44 AM
Last edit: October 14, 2021, 02:03:00 AM by Piggymonster
 #21

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.

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Masplanc
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October 14, 2021, 04:53:41 AM
 #22


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.

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October 14, 2021, 05:47:47 AM
 #23

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.

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October 14, 2021, 06:22:05 AM
 #24

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.

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October 14, 2021, 07:52:52 AM
 #25

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.

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October 14, 2021, 01:12:45 PM
 #26

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.

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October 14, 2021, 03:38:30 PM
 #27

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.

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Gosgosking
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Today at 06:50:47 AM
 #28

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.

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