The future of Bitcoin

[Popkon6]

I believe people around the world will acknowledge Bitcoin in its usage as currency and will long for its frictionless transfers that do not require any help from the financial institutions.

Bitcoin is still a volatile asset even though countries like el Salvador or brazil have accepted bitcoin as a legal payment method or as an official means of payment but in general people still don't use bitcoin for daily payment, they still consider bitcoin as more of an investment. I don't think people will use bitcoin as currency, bitcoin is still more suitable as an investment. No one wants to sell or use their bitcoins because they see the future of bitcoin as very bright.

Bitcoin is legally valid in El Salvador.  But the people of El Salvador could never accept it because their tax numbers were too high.  And out of 100% people 87% are not in favor of people Bitcoin and rest 13% people are in favor of coin.  Because the government of that country is in favor of Bitcoin, but the number of taxes and VAT is very high, due to which the majority of the population of El Salvador is not in favor of Bitcoin.

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[LDL]

See the Bitcoin market crash is not a new thing, if you look at the past years you will see that the Bitcoin market has gone to a worse position.  After the crash of the Luna platform, the Bitcoin market experienced a major decline, but even then the Bitcoin market hovered around $25,000.  Then let's say that the Bitcoin market took a big plunge after the FTX hack, but that's not the end of it.  You wait patiently and watch Bitcoin skyrocket in the coming years.  Many have commented that Bitcoin will be close to $200,000 after 2024.



Image source:click

So I want to ask your opinion.

What do you think will be the fate of bitcoin in the future?

In conclusion, the future generations are very interested in the importance and demand of Bitcoin.  Directly and indirectly people from different parts of the world are realizing the importance of Bitcoin among themselves with the future and growing demand of Bitcoin.  So it can be said that in the amount of supply of next generation bitcoins, all the small investors will not be able to collect bitcoins except the big investors.

[Plaguedeath]

Bitcoin is legally valid in El Salvador.  But the people of El Salvador could never accept it because their tax numbers were too high.  And out of 100% people 87% are not in favor of people Bitcoin and rest 13% people are in favor of coin.  Because the government of that country is in favor of Bitcoin, but the number of taxes and VAT is very high, due to which the majority of the population of El Salvador is not in favor of Bitcoin.

I wonder how you can said that, you need to check first El Salvador is tax free for crypto, which mean even you're trading or invest that make profit, they wouldn't tax it. They have income tax and VAT, but it's a different thing if we discuss about Bitcoin. The reason why major of citizens on El Salvador still not favor with Bitcoin is because Nayib Bukele force all businessman to accept Bitcoin regardless they trust or not in Bitcoin. Of course it shouldn't be forced to make people to learn about Bitcoin first, when they already know Bitcoin has a lot advantage, they will trust in Bitcoin 100%.

El Salvador

In September of 2021, El Salvador made worldwide news by becoming the first nation to accept Bitcoin as a legal tender. Citizens can now buy everything from groceries to a house using Bitcoin. This country is also a cryptocurrency tax haven for you.

The government did this to market itself as one of the few countries without crypto tax to attract more investment to the region. But that’s not all they did. To give foreigners a greater incentive to move to their country, they announced that all foreigners would be exempted from paying taxes on any income from their Bitcoin gains. So if you’re a Bitcoin investor, then El Salvador is probably the best place to move to.

[Antonas1]

If you are not comfy with a centralized exchange, feel free to use DEX. That's what many people say too.

Using a DEX can help you hide your identity, but it's not completely secure, so be careful with a DEX, never trust anyone too much.

Yes you are right. I meant it's for reference only, as the OP stated, he wasn't comfortable with centralized exchanges. There is no other choice if he wants to trade his bitcoins other than between CEX or DEX. I use both.

[Inwestour]

For the fact that no two humans can easily agree, group of 100 cannot agree easily, countries cannot agree easily, tribes and races cannot agree easily on one thing. That is the reason why bitcoin will exist and continue to outsmart its enemies. When one person is fighting against bitcoin, thr other person is supporting it. When one group fights to bring bitcoin down, another group of vows to make it blossom. When one government is banning bitcoin another government is adopting it.
With this imbalance in humanity and humanity desire for freedom, bitcoin has a great future.

What you describe has always existed at all times, it was long before bitcoin and will remain, if bitcoin ceases to exist. Bitcoin is just a tool that can be used in different ways, both with good intentions and for committing any atrocities, but it cannot affect human nature in any way and it will not change it in any way. It is not some kind of magic key in negotiations between people or countries.

[TheGreatPython]

If you are not comfy with a centralized exchange, feel free to use DEX. That's what many people say too.

Using a DEX can help you hide your identity, but it's not completely secure, so be careful with a DEX, never trust anyone too much.

I think there are still dex out there that is known just like a cex so they must be secure but if there are people who still lose their funds then it can be their problem already. Maybe these people didn't double check the url's that they are visiting and they got phished out.

There are still lots of ways on how we can lose our funds not only through phishing so we must always equip ourselves with knowledge from time to time to be able to avoid them. Regulation in crypto sounds like a bad idea but it also has a benefit. It can greatly lessen the fraud and scams which are happening around but they can still happen like on the case of ftx and others so we must always watch for this and better if we do not keep most of the money on them.

[KingsDen]

For the fact that no two humans can easily agree, group of 100 cannot agree easily, countries cannot agree easily, tribes and races cannot agree easily on one thing. That is the reason why bitcoin will exist and continue to outsmart its enemies. When one person is fighting against bitcoin, thr other person is supporting it. When one group fights to bring bitcoin down, another group of vows to make it blossom. When one government is banning bitcoin another government is adopting it.
With this imbalance in humanity and humanity desire for freedom, bitcoin has a great future.

What you describe has always existed at all times, it was long before bitcoin and will remain, if bitcoin ceases to exist. Bitcoin is just a tool that can be used in different ways, both with good intentions and for committing any atrocities, but it cannot affect human nature in any way and it will not change it in any way. It is not some kind of magic key in negotiations between people or countries.

That has been my greatest defence and confident in bitcoin.
As I always say that bitcoin whose foundation is on blockchain cannot be eradicated totally in the world. It could only happen if bitcoin was a Ponzi scheme but it has been proven that bitcoin is not a Ponzi scheme which means even if bitcoin is affected or what we see as bitcoin today no longer exist there will be another form of Bitcoin which is a better version of what we have today. This is because technology will always give us the better version. Satoshi has laid the foundation and the Bitcoin freedom has been tested by many so we cannot actually allow the freedom to go back to the mud.

[Xxmodded]

See the Bitcoin market crash is not a new thing, if you look at the past years you will see that the Bitcoin market has gone to a worse position.  After the crash of the Luna platform, the Bitcoin market experienced a major decline, but even then the Bitcoin market hovered around $25,000.  Then let's say that the Bitcoin market took a big plunge after the FTX hack, but that's not the end of it.  You wait patiently and watch Bitcoin skyrocket in the coming years.  Many have commented that Bitcoin will be close to $200,000 after 2024.

Are you sure with many commented or predicting about Bitcoin price close to $200,000 after 2024? Looks huge expected with Bitcoin values reach above $200,000 with current price still on $17,000. Left one year half later for seeing 2024 and I don't expected Bitcoin can reach to $200,000 in 2024. This year have complicated problem for Bitcoin have going dump, after Luna crash drastically from $100 become shit coins and still remember with FTX collapse, seems Bitcoin opportunity reaching highest price again need four until six years later.

I sure Bitcoin can reach highest price again and $200,000 still not possibility, but need longer time to see Bitcoin on highest price and make another ATH again one day later.

[trendcoin]

...
What do you think will be the fate of bitcoin in the future?

Some thoughts are beyond time in real life. I think Bitcoin is the product of such thinking. Satoshi was a very clever man, and as a product of that intelligence he conceived what ought to be. The problem is that the ideals that are the solutions of our minds do not correspond 100% with real life today. I look at our world and for now I do not see the possibility of such a thing in the near future, but we are the pioneers of the future and serve in the construction of such a world.

[Solosanz]

Using a DEX can help you hide your identity, but it's not completely secure, so be careful with a DEX, never trust anyone too much.

You're didn't understand about anything!

DEX can't hide your identity because they're not using mixer! they just not ask your identity, but they're record your address, email and your IP address (if you're not using Tor). If you say it's not secure to trade using DEX, this mean it's not 100% DEX e.g. uniswap, sushiswap, dydx, etc. If you want to achieve 100% DEX you must use Bisq. Actually it's true we must not trust anyone, but open source DEX can make you to verify the code.

[Awaklara]

What do you think will be the fate of bitcoin in the future?

until now Bitcoin has not been used as a legal tender for most countries. government revenue related to the ownership of traded investment assets.
it could have remained anonymous with the intended freedom if Bitcoin was being used as legal tender.
I'm sure you're not the only one with thoughts like this. Some people who hold onto their bitcoins long enough are bound to be bothered by verification on exchanges when they want to trade. however, developing each country must comply with regulations.

[Antonas1]

Using a DEX can help you hide your identity, but it's not completely secure, so be careful with a DEX, never trust anyone too much.

You're didn't understand about anything!

DEX can't hide your identity because they're not using mixer! they just not ask your identity, but they're record your address, email and your IP address (if you're not using Tor). If you say it's not secure to trade using DEX, this mean it's not 100% DEX e.g. uniswap, sushiswap, dydx, etc. If you want to achieve 100% DEX you must use Bisq. Actually it's true we must not trust anyone, but open source DEX can make you to verify the code.

One of the things that makes it "not completely secure" (other than phishing) are fake tokens or tokens that have no value at all. So many fake tokens can still be placed at DEX because there is no regulation about it.

There is a study that says over 95% of the tokens on Uniswap are scams, although many people say that research is trash. Here is the link:
- Over 95% of tokens launched on Uniswap are scams – Research
- Dark Side of Crypto: 98% of Projects Listed on Uniswap Are Scam (Study)

[_BlackStar]

Nobody knows the future, but for the best case scenario then I think bitcoin has a very good future. I don't doubt the future of bitcoin as long as the government doesn't ban it, be it adoption, trade, investment and mining. But if all governments agree to ban the points I mentioned, then I will be the first to doubt the future of bitcoin.

As far as we can see now, governments do not ban bitcoin but tend to regulate it for the common good. Although on the one hand it is a little detrimental to the user because of the privacy conflict, in my opinion the regulation is much better than completely banning it. But in essence the government can only regulate users, while they cannot regulate bitcoin so users have the option to maintain privacy properly.

[BlackBoss_]

DEX can't hide your identity because they're not using mixer! they just not ask your identity, but they're record your address, email and your IP address (if you're not using Tor). If you say it's not secure to trade using DEX, this mean it's not 100% DEX e.g. uniswap, sushiswap, dydx, etc. If you want to achieve 100% DEX you must use Bisq. Actually it's true we must not trust anyone, but open source DEX can make you to verify the code.

DEX can get information about your identity, what device, OS you use, mobile or desktop.

They use those details to maximize their priority of development, mobile or desktop. Nowadays more people use mobile devices to access platforms to trade, swap or to play GameFi, NFT, Metaverse.

[Maidak]

Nobody knows the future, but for the best case scenario then I think bitcoin has a very good future. I don't doubt the future of bitcoin as long as the government doesn't ban it, be it adoption, trade, investment and mining. But if all governments agree to ban the points I mentioned, then I will be the first to doubt the future of bitcoin.

As far as we can see now, governments do not ban bitcoin but tend to regulate it for the common good. Although on the one hand it is a little detrimental to the user because of the privacy conflict, in my opinion the regulation is much better than completely banning it. But in essence the government can only regulate users, while they cannot regulate bitcoin so users have the option to maintain privacy properly.

Many people assume that the government will not be able to do anything with bitcoin, which is a misconception. It can be said that the future of bitcoin depends a lot on the government. If most governments get together and ban bitcoin, the future of bitcoin will be a big question mark, so I don't expect people to find a way against them.

I am still determining if regulation is really better for the market. Or just an excuse for them to try to control us more tightly. I also don't like the regulation, but so far the rules are inevitable.

[fennic]

In person I think that Bitcoin will be super influnetial in late 2030 era. Because at that time everything will be super adoptive and their might be new opportunities for users and that will make Crypto more and more advance. And also more and more Bitcoin becomes People's Bitcoin than their will be less chances of it's crash cause there will be more Bitcoin than any other Big influentials.

[Bobrox]

Many people assume that the government will not be able to do anything with bitcoin, which is a misconception. It can be said that the future of bitcoin depends a lot on the government. If most governments get together and ban bitcoin, the future of bitcoin will be a big question mark, so I don't expect people to find a way against them.

I am still determining if regulation is really better for the market. Or just an excuse for them to try to control us more tightly. I also don't like the regulation, but so far the rules are inevitable.

I think have right side with Bitcoin future depending in the government hands, no doubt if government make bad announcement with Bitcoin side actually many people panic and not care about how much their fund drop for cut loss. Actually still have positive side with several government have allowed Bitcoin as investment assets fund and have few countries only make Bitcoin as legal currency transaction.

Government regulation about Bitcoin legal or not as investment assets or payment currency most important thing for Bitcoin price impact at the future and how long keep exist if government have warning with bad news and banned Bitcoin, absolutely the future of Bitcoin not only depending from holder but also have impact with government interference.

[uchegod-21]

Even if I don't see the future, I have the feeling that bitcoin will be with Humanity for so many years. This is because bitcoin is new and has already made big impact to the extent that companies and even governments have started adopting it. Even some government did not only adopt it, they also made it their legal tender. This is a good sign that bitcoin has a very bright future. What I normally do is to teach my relatives about bitcoin because no one knows how things will play out in the future and bitcoin will become a universal exchange means.

[WangCaiji]

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[danadc]

I believe people around the world will acknowledge Bitcoin in its usage as currency and will long for its frictionless transfers that do not require any help from the financial institutions.

Bitcoin is still a volatile asset even though countries like el Salvador or brazil have accepted bitcoin as a legal payment method or as an official means of payment but in general people still don't use bitcoin for daily payment, they still consider bitcoin as more of an investment. I don't think people will use bitcoin as currency, bitcoin is still more suitable as an investment. No one wants to sell or use their bitcoins because they see the future of bitcoin as very bright.

It does not matter, that it continues to be as volatile as possible, it is the most beautiful way to not be the same as the other markets where everything is based on the opinions of economists who are wrong due to the situations of the world, it is better that there is not much power of prediction and that everything is always a surprise, it does not matter that the price always goes down, the price will go up and those of us who believe in bitcoin will have profits and that is the future for me, the normal money that we know is fleeting and devaluable and it degrades, bitcoin does not degrade or devalue, and the more you have, the more options you have to be millionaires.