About the future of bitcoin - What are you worried about?

[ShowOff]

I've checked a number of factoid slots and found some points that might find interesting to discuss with you.

I'd like to discuss some of the points I quote below about the future of bitcoin, and I'd really like to know if you're worried about that?

1. Remember that Bitcoin is still beta software. Don't put all of your money into BTC!
2. "I'm sure that in 20 years there will either be very large transaction volume or no volume." -- Satoshi

About the first point: I assume that there is a risk of failure on this currency given that bitcoin is still beta software. I don't know if my concern about that is unreasonable or not, but there are certainly risks I can think of.

About the second point: It is possible that there was no transaction volume in bitcoin's first 20 years. However I wouldn't worry too much about that because up to now the volume of bitcoin has been huge and bitcoin has dominated the market for a long time.

Then, what do you think about the two points above.

[rby]

1. Remember that Bitcoin is still beta software. Don't put all of your money into BTC!

I believe that bitcoin still being a beta software is not a threat or something we should be scared about. Remember bitcoin is open source and still developing. If the software is taken to the final stage, implementation of new ideas and advancement of bitcoin will not be easy. We should only worry for a beta software that is close source for a long time and not the decentralized bitcoin.

[The Cryptovator]

Are you sure still now Bitcoin is on beta software? From where do you quote this? I am really curious. Wondering if it's only me that don't know Bitcoin is still on Beta software. I agree that doesn't put all money into Bitcoin, because it's much volatile and anything could happen at any time. However, even on beta software, I am still not worried.

Regarding the second option, I am not worried as well. Because transaction volume has been increasing day by day, not reducing at all. Hope it will be more when reaching 20 years. But crypto is always risky, could happen anything.

[carlfebz2]

Then, what do you think about the two points above.

One thing which Satoshi is really pertaining into, is that there's no guarantee on what would happen in the future which even the creator itself doesnt have any idea if the thing he had created would succeed or not.

But it did turn out to be big and if he's alive as of today then he had really made out a big and something revolutionary kind of thing which the community did really end up on mainly supporting it.

It wasnt on Beta anymore yet it does really do the job on what its intended supposed to do.The rest would really be depending on the community support itself.
You cant really tell on what the future holds until it do happens.

[ShowOff]

Are you sure still now Bitcoin is on beta software? From where do you quote this? I am really curious. Wondering if it's only me that don't know Bitcoin is still on Beta software.

I already told you, the two points I quote in this thread are from factoid slots. About the first point, of course I don't really know is bitcoin still beta software, of course there are concerns about the risks in the future.

I agree that doesn't put all money into Bitcoin, because it's much volatile and anything could happen at any time. However, even on beta software, I am still not worried.

Honestly, I'd really like to know some opinions on what the risks might be if bitcoin was beta software, have you thought about it?

[jackg]

I agree that doesn't put all money into Bitcoin, because it's much volatile and anything could happen at any time. However, even on beta software, I am still not worried.

Honestly, I'd really like to know some opinions on what the risks might be if bitcoin was beta software, have you thought about it?

I think it'll stay until there's no more significant changes to the code like has been said above. It might remain in beta for a long time more and I don't think that's a problem. Sometimes companies release beta updates a week or two before the main stable update and make them reversible - we might not yet know if we need this with a future bitcoin fork.

One of the main things I can see aside from forks is mining. What if someone somewhere produces really powerful mining chips and has a monopoly on it by being able to mine at a low rate (this might be on the extreme as it'll probably not take too long for companies to catch up and compete but it might pose a risk still too).

I think it's kept with bitcoin core also because it's a flage that might welcome feedback and people to join the team to fix bugs and submit reports maybe that one bug that doesn't do much now could do a lot once a feature it effects gets implemented differently.

A lot of companies also come out of beta to charge people to use their software too - like Microsoft did with windows 10.

[hosseinimr93]

About the first point, of course I don't really know is bitcoin still beta software, of course there are concerns about the risks in the future.

If you open bitcoin core software and click on "Help" at top of the window and go to "About Bitcoin Core", you will see a message saying "This is experimental software."
That's shown in the following image.

[seoincorporation]

experimental software and beta software are two different things, I wouldn't say bitcoin is beta software because right now we are in the core version 23.0. We could say the first versions was the beta software, but right now bitcoin has a really solid base.

[Aanuoluwatofunmi]

1. Remember that Bitcoin is still beta software. Don't put all of your money into BTC!
2. "I'm sure that in 20 years there will either be very large transaction volume or no volume." -- Satoshi

Point one is partially acceptable in the sense that A part needed more facts for clarification while the B part is right which is the concluding aspect, a simple and softle warning that says don't put all eggs on the same basket, point two is still showing thesame pattern in one except and only you're able to provide a link that ascertain that there may not be an increasing transaction volume in the next 20 years.

So I will go with an ever increasing transaction volume in bitcoin network since it not altcoins we are dealing with here, bitcoin adoption will always increases and same way the transaction volume as long as the thirteen years journey is evident with massive increase, the next 20 years will be an outburst beyond imagination.

[passwordnow]

Satoshi said that but I think that if he's still out there and looking at the success of bitcoin, he'd say that it's no longer beta software as it's become a successful project worldwide. There's no doubt from being beta software to making it into the mainstream, this is no longer a beta software.
And about the volume, it might be true but I don't want to stress it out since we're still far from 20 years of its existence. But judging by the looks of it now, we see how large it is today.

[suzanne5223]

1. Remember that Bitcoin is still beta software. Don't put all of your money into BTC!

I believe that bitcoin still being a beta software is not a threat or something we should be scared about. Remember bitcoin is open source and still developing. If the software is taken to the final stage, implementation of new ideas and advancement of bitcoin will not be easy. We should only worry for a beta software that is close source for a long time and not the decentralized bitcoin.

I believe the OP's worry was about the possible vulnerability that usually occurs when software ware still in beta and this reminds me of the vulnerability called BTC inventory out of memory denial of service attack which was detected by Braydon Fuller in the year 2018.
Yes, we don't need to see it as a threat since the BTC dev ^{( of course Braydon Fuller is among them)} is making a contribution to the development of the software to prevent possible vulnerability.

[Darker45]

Bitcoin is developing as it moves forward. Just like everything else. Updates are released every now and then. But perhaps it is something to be worried about when a day would come when nobody would contribute to its development anymore. A number have left; Mike Hearn, Jonas Schnelli, Wladimir van der Laan, and others.

I'm a little worried about the time when Bitcoin would end, because it most probably will. Generational wealth could probably be stored in Bitcoin. But at some point, it might lose relevance.

[bittraffic]

About the first point: Yes I believe, it's why investors do a little diversification.
About the second point: No volume is probably too much but if Greenpeace succeeds in thier agenda to make BTC POS, it may have less volume because why go for BTC when there is already ETH? or Matic or DOT.

Not something that many would worry about in times when everyone is scrambling to make money. The more worrisome for now is whether the price will go up or not.

[dansus021]

bitcoin right know is not beta software again in my opinion, we seen 50 attack but still we good at it. to me bitcoin is like gold the price will continue to rise since the community is growing and the big company start to look at it

[LogitechMouse]

1. Remember that Bitcoin is still beta software. Don't put all of your money into BTC!
2. "I'm sure that in 20 years there will either be very large transaction volume or no volume." -- Satoshi

1. I didn't know that Bitcoin is still in beta software but thanks for this one. With regards to putting all of your money into BTC, I agree with it because I believe in diversification and when I say diversification, it means putting money into different assets like Crypto, Stocks, Bonds, Real Estate etc. etc. Maybe there is some here who puts all of their trust into BTC thus, they went all in into it and there's nothing wrong with it since it's your decision and money. Just be ready if incase...

2. This is the one that I worry about. This one depends on the adoption of Bitcoin worldwide because either people will integrate Bitcoin in their everyday lives or not at all. It's either we see people trading Bitcoin or using Bitcoin in our daily transactions or not at all. On the contrary, we've seen Bitcoin's volume if not increasing remain sideways on a day-to-day basis, but it isn't still safe to say that Bitcoin will not disappear after 20 years. That again depends on the adoption of Bitcoin.

[smartaction]

I've checked a number of factoid slots and found some points that might find interesting to discuss with you.

I'd like to discuss some of the points I quote below about the future of bitcoin, and I'd really like to know if you're worried about that?

1. Remember that Bitcoin is still beta software. Don't put all of your money into BTC!
2. "I'm sure that in 20 years there will either be very large transaction volume or no volume." -- Satoshi

I am still not agree with you that Bitcoin is still beta software. where you got this info ? i didn’t seen anything like that yet. but yes as a virtual currency no one should put there all of money on bitcoin . coz investing on cryptocurrency is still high risky

your 2nd point,  In the last 20 years Bitcoin will probably have a large transaction volume and a large value but it is very hard to say that Bitcoin will have no value after the last 20 years.  Because of the way Bitcoin is growing in popularity and the way Bitcoin is being used worldwide, Bitcoin may become a more valuable asset in the future.

[Don Pedro Dinero]

I am not too concerned about the future of bitcoin. I am sure that when it turns 20 years old, which won't be that long, the volume of trading will be considerable, even greater than now, and that the price will be considerably higher, so that the 20,000 USD at which we can buy it now will seem very cheap.

As for it being in beta software, I'm not sure like others who have expressed doubts, but I think it simply means that as functional as it is, it still needs to be improved and some features implemented.

[Strongkored]

1. Beta or not, not putting everything in BTC is something that must be done not only in BTC but also in other forms, but that is not a reason for us to diversify into altcoins which are actually more risky
2. So far the transaction is still going well with a large amount, need to be a concern when adoption begins to decline because it will greatly affect the number of transactions.
Talking about worry, I think it needs to exist because worrying makes us more careful, maybe at this time what we are worried about looks impossible but actually anything can happen, when we are in denial, it will make no longer alert to the possibilities that could happen.

[$anounimus$]

Maybe everyone here agrees on the fact that bitcoin is so new, which means that a lot of people in the world still don't understand it.

I think Satoshi is very intelligent and has a bigger vision, which will take time to develop. To really understand what he's talking about, we must at least first understand how money works. Just as the internet needs to be understood beyond computers and browsers, money is more than just coins and cash. The bank accounts and credit cards you use are just one part of using money.

In the long term, I believe bitcoin will work to further decentralize the financial authority that currently resides in the big banks and regulatory bodies. This may mean a lot in the years to come but in the end, it will be good for everyone as long as we protect ourselves from theft along the way.

I personally would love to buy a new house with bitcoin one day!!!

[cryptoaddictchie]

Experimental or beta software, bitcoin has been recognized all over the world. There could be an attack on its network in the coming futures but its still developing and as it goes forward I think it will strengthen security with potential threat too.

Looks like we can scrap the 2nd point since volume of bitcoin trading globally is huge and its quite impossible to reduce to near 0 figure.