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

[kryptqnick]

I think Bitcoin software is strong enough to not worry about a critical failure, unless external circumstances suddenly change (a leap in quantum computing), but I doubt that will happen. Also, I think we can already see a large transaction volume, and I see no reason for it suddenly stopping to be the case by 2029. I am not worried about Bitcoin. I think it'll only get bigger, more adopted, the price will also continue growing, and that it's unlikely that something will make it worthless unless something that ruins human civilization happens, but in that case Bitcoin will be the last thing to worry about.

[zasad@]

https://twitter.com/ki_young_ju/status/1579947485266874371?s=20&t=i0ObDJHXUSiaK0XZmvVnSA
"#Bitcoin market cap is just 0.25% of top custodian banks' holdings.

And most of them just entered the crypto custody space this year.

Good luck
@jpmorgan
@HSBC"


But a year ago we could not even imagine that such a thing would be possible. And in 5 years, all world banks will provide services in cryptocurrencies.

[Maidak]

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.

First point: if bitcoin is only a beta software, that means it is in the development and testing stage and bitcoin has been tested for the past 12 years without any problems so it can be said that it has become the official version. At the software level, it is already official and safe to use but when it comes to investment, any investment is risky, even stocks or gold are risky so invest within our means. This is common advice in finance and is not specific to bitcoin.

Second point: With what's going on, this is really nothing to worry about anymore, things are getting bigger and bigger than we thought.

[jrrsparkles]

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.

I don't really have any doubts regarding the bitcoin network nor its existence will be in the next 20 years, bitcoin will stay and there is no flaw in the network.

But my only concern is bitcoin will remain as speculative asset forever so we only talk about bearish and bullish trends, what will happen to the price, what is the right time to invest???

Because it is created to be used as a currency which part is still not happening in the reality, 99% of the bitcoins are used for trading and investment purposes.

[BITCOIN4X]

Bitcoin is a decentralized currency regardless of whether people like it or not. The government doesn't like it for reasons of possible abuse but that's not the main concept why bitcoin was created. Do not put eggs in one basket, really it is a must consider regardless of the purpose of people having them be it an investment asset or a store of value. Despite all that, the risk of technical failure is possible so you should really understand why the advice in the first point exists.

On the second point, I believe the transaction volume will not reach zero anytime soon or even if bitcoin reaches its 20th anniversary. Satoshi talked about bitcoin's possible future back then, but now the transaction volume should lead people to believe that the volume will not come close to 0.

[jaberwock]

-snip-

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

-snip-

1. Yes, bitcoin and other crypto currencies are still on its infant stage. The market is very volatile and unpredictable. So yeah, you don't put all your money on something that cannot be predicted or has high risk.

2. He wasn't wrong. Like I said, crypto currencies are unpredictable. Hence back then, even Satoshi knew that crypto currencies might fail. It has been almost a decade and we have seen large volumes. But there are no assurance that we will see the same within next decade.

We should remember that the "beta" in the software section is not really about bitcoin but more towards the bitcoin wallet, or the things you use for bitcoin. On top of that, it will never get out of the beta stage, it's an experiment done by satoshi and we are the beta users and that's it, there isn't a full release of it and there will never be one, proven by the fact that satoshi is gone and we do not know who satoshi was, and he can't come back and do something about it.

We already steered away from what he left last, so we are using something better than what satoshi built, and yet still in beta. So do not be afraid of bitcoin because of the beta word.

[samuraijin]

I didn't think that Bitcoin would last this long, honestly this is a really good record for Bitcoin assets even the system that Bitcoin has is very well structured, of course it will be well made, otherwise there will be no Bitcoin today  , this is what makes me not want to leave Bitcoin from myself, that I believe in its development in the future, I don't know when for sure sooner or later Bitcoin will change Fiat currency with Bitcoin, I don't know what it will be like, but we can see all the time  In this case, people out there are forced to do all kinds of technology such as their activities in business, school, trade, or shopping, it's impossible that all of that doesn't have a certain meaning, of course everyone is led to continue spending as much technology as possible, so that  Later, when the system is changed to digital currency, everyone is ready to use Bitcoin  n in the age of technology...