[POLL] What is the most likely long term scenario for Bitcoin?

[mobilestrike]

I believe it will overtake Gold as a preferred asset to HODL in the treasury of the Super Powers. I believe it will start with Russia, Iran, then China with North Korea. The United States, Asia and Western Europe, as a response will HODL Bitcoin too, and allow mining in their countries.

It will definitely be the store of value for the rich people and all of the rich people will invest their money in it and will leave gold but it seems like China will not be among those who will start in the early adopters because the people of that country started it first but the government is not in the favor of it while Russia and European countries are on the front line and after that USA may also follow to legalize bitcoin.

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[Wind_FURY]

I believe it will overtake Gold as a preferred asset to HODL in the treasury of the Super Powers. I believe it will start with Russia, Iran, then China with North Korea. The United States, Asia and Western Europe, as a response will HODL Bitcoin too, and allow mining in their countries.

That's what I'm looking forward to as bitcoin have 21million+ over all supply only and imagine if all people of the world will adopt it so we can expect the price burst if the demand will go up together with major wide spread of adoption. First world countries you mentioned are already now into cryptocurrency and some major super powers are now adopting or thinking about legalization of bitcoin. So no wonder all price soar high prediction will come true in future.

I believe Bitcoin has reached near the top of adoption for ordinary people/users, and corporations/institutions have started adopting it. It’s going to be ready for the next phase of adoption. NATION-STATES, bringing out the true nature of Bitcoin in international politics/geo-politics, which can weaken a rival’s dominance.

[Ultegra134]

On the one hand, I believe that more altcoins will keep popping up, few of which will have potential, not to rival Bitcoin of course, but to appear in the top charts, such examples are Cardano, BNB, Solana, Terra, and I'm pretty sure there are plenty other promising ones. Thus, I highly doubt that Bitcoin will surpass 80-90% dominance, like others suggested, it will still be the dominant cryptocurrency, but won't surpass such percentages for sure (currently sitting at 42%).

On the other hand, Bitcoin will most likely be considered an asset of high value, somewhat defeating its initial purpose, since people will be highly unlikely to use it for transactions, rivaling or even surpassing gold.

[Moneyprism]

Major investment asset, it will rival gold

Personally am much convince that one-day, bitcoin rivalry with gold will be contending and then people would have been satisfied that the two are the major investment and asset one could not afford doing without.

totally agree with this statement. bitcoin will be one of the investment instruments that will rival gold and people's views on bitcoin will be more positive in the future

... it will not be possible for bitcoin to become a currency that will replace the existing fiat currency, surely the central bank will prevent this from happening

[Coyster]

I voted for "major investment asset, it will rival gold", i would give quite a few reasons why i went with that choice, firstly i cannot state categorically that Bitcoin will overtake gold, yes it very well could or couldn't, but i am pretty sure it will rival gold sometime soon, even right now so many people already prefer Bitcoin to gold for many reasons, Btc is not yet a "safe haven" asset like gold is, but i am pretty certain that it will.

Having said that, if we take a look at the pace with which Bitcoin continues to develop and grow, with it being a perfect hedge to fiat inflation/devaluation and also attractive features like "being your bank" it offers its users, i am pretty sure Bitcoin is going to be the major investment asset, that is if it isn't already. There are many good things happening in the Bitcoin network, and since it is a long term sustainable project, generally its long term scenario is going to be good.

[TheGreatPython]

Major investment asset, it will rival gold

Personally am much convince that one-day, bitcoin rivalry with gold will be contending and then people would have been satisfied that the two are the major investment and asset one could not afford doing without.

totally agree with this statement. bitcoin will be one of the investment instruments that will rival gold and people's views on bitcoin will be more positive in the future

... it will not be possible for bitcoin to become a currency that will replace the existing fiat currency, surely the central bank will prevent this from happening

What about now? I think this is already known that btc is a rival of gold because they are always being compared to each other. Not to be biased but i think that btc is already a clear winner here because btc value have increased a lot year after year while gold merely show a gain. How much more in the future if btc became more mainstream? Gold is already known, it is old and rusty so I don't think there will be a major change in its value.

@OP
I voted for the 3rd choice in the poll because I think that is what suites bitcoin the most today and even in the future. Choices 4 and 5, I think have similarities. On choice number 4, you can remove  "A leading currency or asset ".

[uneng]

Probably The leader of the crypto market, a niche currency and an alternative investment asset (like now) or Major investment asset, it will rival gold.

Inside crypto market, bitcoin is unstoppable and imbatible. It is the first and original cryptocurrency among all and even though at some point a new superior cryptocurrency in technology, cost-benefit and usage is developed and heavily adopted, bitcoin will keep its position as a rare good or relic with historical value, while becoming more and more scarce each new day.

And being extremely or maybe utopically optimistic, bitcoin can rise to the status of gold, although I think it's unlikely, because physical precious metals will be always above any kind of virtual goods.

[Fatunad]

I chose:
The leader of the crypto market, a niche currency and an alternative investment asset (like now)

and the next thing? No one really knows on when or how long it would last because there's no one could able to predict on what would happen in the future.
So other options or words in the poll isnt something that could really happen or nearly impossible but well who knows right? 

[takngantuk]

Bitcoin is currently in a growth phase, but eventually it will become an "established" asset. At least many Bitcoin supporters, including me, believe this. In this "final" scenario, Bitcoin could become more stable, with bubbles and crashes being part of the past.

I have my doubts about this, because people prefer bitcoin volatility over being more stable. so the final scenario you thought up was very difficult to materialize. bitcoin is so loved for this, see how bitcoin make people rich in just a short time. One reason is volatility. so in the future bitcoin will stay like this.

[xSkylarx]

Bitcoin is currently in a growth phase, but eventually it will become an "established" asset. At least many Bitcoin supporters, including me, believe this. In this "final" scenario, Bitcoin could become more stable, with bubbles and crashes being part of the past.

I have my doubts about this, because people prefer bitcoin volatility over being more stable. so the final scenario you thought up was very difficult to materialize. bitcoin is so loved for this, see how bitcoin make people rich in just a short time. One reason is volatility. so in the future bitcoin will stay like this.

Yeah, I agree that before people really want those stable currencies, as you can see in forex, we could really say that it is kinda stable if there is no news that could affect the market, but if we are talking cryptocurrency, almost every week something happens that makes a long candle, which is the time if you ride that bull run then you will be wealthy. People adore Bitcoin because of its volatility and current price, which is extremely high.

[Twinkledoe]

Bitcoin is currently in a growth phase, but eventually it will become an "established" asset. At least many Bitcoin supporters, including me, believe this. In this "final" scenario, Bitcoin could become more stable, with bubbles and crashes being part of the past.

I have my doubts about this, because people prefer bitcoin volatility over being more stable. so the final scenario you thought up was very difficult to materialize. bitcoin is so loved for this, see how bitcoin make people rich in just a short time. One reason is volatility. so in the future bitcoin will stay like this.

Yeah, I agree that before people really want those stable currencies, as you can see in forex, we could really say that it is kinda stable if there is no news that could affect the market, but if we are talking cryptocurrency, almost every week something happens that makes a long candle, which is the time if you ride that bull run then you will be wealthy. People adore Bitcoin because of its volatility and current price, which is extremely high.

The volatility factor is one of the features why many like bitcoin to be their asset. This is I think, will last for long. Though maybe in the future, the price may attain its stability. But for now, the volatility is the reason why there are many people going into this market. It will still lead all the crypto in my opinion. Some will emerge as better competitors but people will still patronize bitcoin as the main cryptocurrency.

[mindrust]

Charlie Munger recently said FIAT is going to zero soon. What will replace FIAT? Gold has no mobility. The best candidates are crypto. Not necessarily bitcoin there isn't really many choices. The other option is ETH of course.

I'd like to see bitcoin taking over FIAT currencies but I don't think Bitcoin or any other currency can handle that kind of demand. The tech is not there yet.

[Lucius]

I am closest to the option "The leader of the crypto market, a niche currency and an alternative investment asset (like now)", because it somehow sounds most realistic to me at the moment, although it is impossible to estimate what attitude the world's greatest powers will take towards Bitcoin in the future. While some are reluctant to admit it, Bitcoin cannot succeed globally if it is banned or restricted in the US, EU, China, Russia, UK, or India, and we have different views in those countries, ranging from total bans, to discouraging people to invest in Bitcoin in a way that income taxes go over 50%.

If Bitcoin lasts long enough, maybe one day it will have an even bigger market cap than gold, because gold mining in the future goes beyond our planet, because there is gold on asteroids, and maybe on some planets in our solar system.

Judging by what we have seen so far, most people are not ready to replace fiat with any alternative, and whether it is out of ignorance, fear or something else remains a question.

[m2017]

Charlie Munger recently said FIAT is going to zero soon. What will replace FIAT? Gold has no mobility. The best candidates are crypto. Not necessarily bitcoin there isn't really many choices. The other option is ETH of course.

I'd like to see bitcoin taking over FIAT currencies but I don't think Bitcoin or any other currency can handle that kind of demand. The tech is not there yet.

The option proposed by Charlie Munger seems to me the most possible, because fiat does not allow the governments of various countries to control the money of their citizens. I think fiat will replace the digital fiat on blockchain, which will be issued by central banks under the leadership of governments. At the moment, I believe that never and under no circumstances will bitcoin replace fiat \ digital fiat. The most that governments will allow is to invest in bitcoin while taking taxes on profits.

Therefore, I see the answer to the question of this topic in the 3rd answer option: "The leader of the crypto market, a niche currency and an alternative investment asset (like now)".