The future of Bitcoin

[Prince Malik]

There's no doubt that the future of bitcoin is great but with the intervention of companies, exchanges, and the government, they're doing things that are against the principle of bitcoin.
We can't do anything with that but hopefully, someday, we won't be relying on these exchanges to have our bitcoins exchanged into another currency that we have. Without having the need to comply with the KYC and stuff. Because that's what we don't like with these exchanges.

I think the biggest enemies of Bitcoin are those who are trying to centralize Bitcoin as much as possible, because people in the end may accept their laws because of their need of using Bitcoin, governments are trying to make tasks on crypto and that's the meaning of centralization while the principal of Bitcoin is full decentralization

[thecodebear]

I think Bitcoin will end up as the world's alternative money. Nations will still have their fiat and that will be used a lot but plenty of people will use bitcoin some of the time and some people will largely only use bitcoin. People will also tend to save in Bitcoin rather than in fiat. And Bitcoin will replace Gold as the world's main store of value. Obviously it will continue to conpete with stocks viewed as an investment vehicle as well.

LN and perhaps later payment solutions will allow Bitcoin to be used the same as credit cards are today, but cheaper and faster and of course better in general.

Eventually i would expect all Democratic free nations to adopt legislation that doesnt tax small purchases so that you dont have to track every purchase you make with bitcoin for taxes.

Nations and states and cities may mine bitcoin with clean energy to create extra income for government. But more importantly it'll become standard for every power plant to have bitcoin miners running on location to help strengthen the economics of power production and to enable power plants to no longer waste enormous amounts of electricity.

I could see some nations start to move away from a USD international monetary standard to a bitcoin standard to be less subject to the whims of the US. It might even become fairly standard to use bitcoin in international trade to move billions of dollars around per day.

It'll be normal for corporations that have plenty of cash on hand to store some of their cash long term in Bitcoin in order to grow their assets.

Bitcoin will become a standard item in Wall St and other countries financial centers. It'll be a normal thing to hold bitcoin in an individuals investment portfolio, IRA, 401k, etc.

The industry will start to switch from centralized on/off ramps to more decentralized and private ways to get in and out of Bitcoin. There will also be a lot more services for bitcoin to support the ecosystem.

This will all take decades though. Maybe by 2050 this could be the reality for Bitcoin.

[Maidak]

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.

Although bitcoin is decentralized, we need to know that bitcoin relies on the internet and power to work, and all of that is controlled by the government. If they really put bitcoin on the list as a threat to national security and harm to the world. I think they have all the ways to stop bitcoin altogether, unlike many people who think the government is losing the war on bitcoin.
In the end, as _BlackStar said, regulation is much better than the ban. We will soon have regulations for the market, what I wish is that they will not stifle its volatility.

[Rehan Zakir]

Don't worry about Bitcoin. The future of Bitcoin is very bright. This is the most trending currency or the most famous currency of the world. So, don't worry about its future.But the pump and dump in their price is a natural way. Because some people's buy it at that time and some people's sell it at that time .
Bitcoin price is fluctuating very much. So, that's why trade with full care

[Saonahmed007]

People are already using Bitcoin as a currency, they used it as mode of payment and even El Salvador acknowledges it as Legal tender.  My country accepts BTC as a mode of payment and now Brazil also do the same.

With these countries being involved and accept Bitcoin as legal tender or mode of payment, I doubt there is no people use it as currency.

Bitcoin is accepted in your country but are you really using it as a payment method or are you just trying to accumulate more in the hope of getting rich in the future and everyone is thinking the same as you. El Salvador accepts bitcoin as legal tender, but their government only invests bitcoin for profit, they don't use it to pay for anything in import and export or turn it into a national reserve asset. All just want to invest to expect a profit when it increases in price.

[jostorres]

Although bitcoin is decentralized, we need to know that bitcoin relies on the internet and power to work, and all of that is controlled by the government. If they really put bitcoin on the list as a threat to national security and harm to the world. I think they have all the ways to stop bitcoin altogether, unlike many people who think the government is losing the war on bitcoin.
In the end, as _BlackStar said, regulation is much better than the ban. We will soon have regulations for the market, what I wish is that they will not stifle its volatility.

They really don't. Internet is something that they can't control, they can shut it down if they want to give it a try but can you imagine shut down the whole internet? This isn't north Korea, they can2t do that, it would have horrible outcome.

We are talking about literally one hour of no internet causing billions in losses and that's why they can't do it. They can't control it neither, as long as they give us the internet, we can hide what we do and then we can do whatever we want to. However, none of these matters because I am sure that we are going to be fine, and that's not going to be a trouble for any of us, it should be an easy way of handling it.

[Maidak]

Although bitcoin is decentralized, we need to know that bitcoin relies on the internet and power to work, and all of that is controlled by the government. If they really put bitcoin on the list as a threat to national security and harm to the world. I think they have all the ways to stop bitcoin altogether, unlike many people who think the government is losing the war on bitcoin.
In the end, as _BlackStar said, regulation is much better than the ban. We will soon have regulations for the market, what I wish is that they will not stifle its volatility.

They really don't. Internet is something that they can't control, they can shut it down if they want to give it a try but can you imagine shut down the whole internet? This isn't north Korea, they can2t do that, it would have horrible outcome.

We are talking about literally one hour of no internet causing billions in losses and that's why they can't do it. They can't control it neither, as long as they give us the internet, we can hide what we do and then we can do whatever we want to. However, none of these matters because I am sure that we are going to be fine, and that's not going to be a trouble for any of us, it should be an easy way of handling it.

The internet is what they make, it's not decentralized so that they can shut it down, but I agree with you if they do, it will cause a lot of damage to the global economy. It's almost like Elon threatening to stop providing the internet to Ukraine, they can still do it if it's really necessary. But things will not be that bad, the regulations are enough for them to control us without any other measures, IMO.
The government is still the ultimate power in this world, I hope we don't try to go against them, it's not in our favor.

[savetheFORUM]

what is certain is that bitcoin will be more advanced than now, maybe people who didn't like bitcoin before, might start to like bitcoin.
because in the future technology will be more sophisticated, surely everyone in the future will understand more about technology, for example now children have been introduced to cellphones, different from people before, who knew cellphones when they were adults, even a little old.
so that way it is certain, in the future there will be no one who does not know technology, because even from a young age they have been introduced to technology.
and that way, it will definitely have a high impact on the progress of crypto/bitcoin assets.

Advance in terms of value e.g price but not on its technology because it seems that btc isn't being updated like what we have seen on other coins but I think that is because its developer satoshi is not active anymore but this isn't a big problem as btc is still doing fine.

The problem is in the people who think btc has a problem and not with btc. The truth is, btc future is uncertain or even the world and our life. We do not know what can happen next. I think the best thing that we can do is to not worry about the future and just focus on what we have today. We are still doing fine, the world, and btc do still have it's own value. We need to be contented with it.

[yudi09]

In my opinion, this contradicts all the principles that Satoshi promoted.

What we do know is that all processes that require passports and other identification apply to exchanges and many exchanges require that as a requirement so that we can carry out trading activities. For me it's enough just to buy or sell me without having to store assets there.

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

Long before today, there was a trend from ICO to NFT. The Bitcoin position is still running. If Bitcoin has been through tumbling, rising etc then we think it will continue.

[jokers10]

What we do know is that all processes that require passports and other identification apply to exchanges and many exchanges require that as a requirement so that we can carry out trading activities. For me it's enough just to buy or sell me without having to store assets there.
...

Insisting on KYC in crypto they just motivate people to develop better DEX decisions. Because Bitcoin is about anonymity and giving personal data to everyone is definitely not what we expect from crypto. DEXes become better and better and someday, I'm sure, they will work as good as CEXes nowadays and even better.

[yudi09]

What we do know is that all processes that require passports and other identification apply to exchanges and many exchanges require that as a requirement so that we can carry out trading activities. For me it's enough just to buy or sell me without having to store assets there.
...

Insisting on KYC in crypto they just motivate people to develop better DEX decisions. Because Bitcoin is about anonymity and giving personal data to everyone is definitely not what we expect from crypto. DEXes become better and better and someday, I'm sure, they will work as good as CEXes nowadays and even better.

I don't want to say right away that it's right or it's wrong. As long as we are actively involved here, indeed the journey of each hype will naturally be abandoned even though they motivate people to make their company progress. I think people are very understanding with this situation and with unexpected things like FTX happening.
That's why I said that every KYC request by them is just enough to buy and sell, not to store assets because it can be dangerous.

[fuguebtc]

What we do know is that all processes that require passports and other identification apply to exchanges and many exchanges require that as a requirement so that we can carry out trading activities. For me it's enough just to buy or sell me without having to store assets there.
...

Insisting on KYC in crypto they just motivate people to develop better DEX decisions. Because Bitcoin is about anonymity and giving personal data to everyone is definitely not what we expect from crypto. DEXes become better and better and someday, I'm sure, they will work as good as CEXes nowadays and even better.

Although centralized exchanges are going against the decentralized nature that bitcoin creates, to be honest, I am skeptical about the development of DEX. DEX is not new in the market, but it hasn't improved much over the years, maybe our technology is limited to build a DEX like CEX to provide full features. Not to mention the increasingly dense regulations, if the DEX grows, the government will inevitably look at it. They can also find a way to crash or ban as they did with tornado cash mixers or privacy coins.

[jokers10]

Although centralized exchanges are going against the decentralized nature that bitcoin creates, to be honest, I am skeptical about the development of DEX. DEX is not new in the market, but it hasn't improved much over the years, maybe our technology is limited to build a DEX like CEX to provide full features. Not to mention the increasingly dense regulations, if the DEX grows, the government will inevitably look at it. They can also find a way to crash or ban as they did with tornado cash mixers or privacy coins.

All crypto market is just few years. Most technologies take tens of years to develop to a good level. And we have no other way because extremely regulated crypto will be worse version of classical financial system and then why not to use a classical system directly? Decentralization is the main thing in crypto making it a competitive alternative. So if we need to wait when devs will invent some new way of DEX working, we'll wait.

[Dubaian]

The Bitcoin market has seen a lot of changes from day to day. Alternative taxes have changed the market and Bitcoin's popularity has greatly increased. Currently the Bitcoin market is not doing so well but we have seen Bitcoin alternatives happen over the years. The market does not stand still but always goes up and down. However, it is expected that the Bitcoin market will reach its highest level in the future. Enough time to invest Bitcoin in this market.

[TheUltraElite]

The Bitcoin market has seen a lot of changes from day to day. Alternative taxes have changed the market and Bitcoin's popularity has greatly increased. Currently the Bitcoin market is not doing so well but we have seen Bitcoin alternatives happen over the years. The market does not stand still but always goes up and down. However, it is expected that the Bitcoin market will reach its highest level in the future. Enough time to invest Bitcoin in this market.

Market not doing well indicates only what the traders are doing, not how the development or popularity of bitcoin is. There has been certain negative events that have shaken the market towards the end of this year and this is a continuation of that affecting the entire crypto market. But the development of bitcoin is ongoing and rarely looked up by users of bitcoin.

There is no such thing as "alternative to bitcoin" - because that would have broken the market if such a thing truly were discovered. Instead altcoins are cheap attempts to copy what bitcoin succeeded in doing by people who have their own interests in the market. Please use these terms with caution as they can imply different meanings.

Hence for me, the future of bitcoin is bright but slow and the grind is long. But comparing what bitcoin was when I first entered the market around 2016 to what it is today in 2022, I am happy to see the progress.

[crunck]

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.

Your prediction may be correct, but just looking at the present we have seen the successes that bitcoin has achieved, so it can be assured that the future of bitcoin is very bright. I remember a few years ago the market was only retail investors but now look at bitcoin invested by corporations even countries participate in bitcoin investing. It's an incredible growth that no other asset has, it's growing exponentially.

[BlackHatCoiner]

People will also tend to save in Bitcoin rather than in fiat.

I'm of the same opinion as well. "Good money drives out bad money".

Eventually i would expect all Democratic free nations to adopt legislation that doesnt tax small purchases so that you dont have to track every purchase you make with bitcoin for taxes.

I don't think that it'll be viable for the government to collect taxes from Bitcoin-accepting businesses (specifically, due to their bitcoin acceptance). For the same reason they can't do much with cash, merchants who'll want to avoid taxation will not report Bitcoin transactions accurately (again, in the same way they do it with cash).

I could see some nations start to move away from a USD international monetary standard to a bitcoin standard to be less subject to the whims of the US.

Sounds romantic unfortunately. But it may be me who prefers being pessimistic than optimistic.

[Casdinyard]

In my opinion, this contradicts all the principles that Satoshi promoted.

Absolutely. That's why you should avoid centralized exchanges, and exchange decentrally. It's cheaper, more private, and requires less effort during registration. Downsides are that there's less liquidity, and financial institutions such as Revolut might subject you to money laundering if you're transacting with strangers electronically for big amounts. Exchanging face-to-face unfortunately isn't a realistic option.

agreed. Although I would argue about DEX being a little more safer than CEX. There is a debate to be made regarding the security of both, and frankly speaking I think a number of CEX are more established and more well-funded. Thus, they offer more safety than their decentralized counterparts. Binance for one is a little more secure given that they have a well-meaning paper that is open for everyone to see, a couple features that will help them when push comes to shove, and openness to their customers in all ways. DEXs that are reputable come sparingly, and thus far the only DEXs I continue to trust are Uniswap and PancakeSwap.

[Ebede]

Bitcoin will still remain digital currency in the future for people to continue admiring Bitcoin for not control by the government or politicians in the world, and is free for any government that want to adopt it for their country. There will still be pumping and dumping in the future to allow people to buy bitcoin and hold when the price is low in the market, and sell when the price increase in a way they will be satisfy with the market price at the moment.

Bitcoin is a digital currency which everybody know how the for it to remain a digital currency is because of a technology so if you do technology fails today or tomorrow but then another technology come up it can be eliminated but it is that where that bitcoin is a digital currency digital currency is something that will continue to be moving because the world is going digitally

[Cryptmuster]

There is no such thing as "alternative to bitcoin" - because that would have broken the market if such a thing truly were discovered. Instead altcoins are cheap attempts to copy what bitcoin succeeded in doing by people who have their own interests in the market. Please use these terms with caution as they can imply different meanings.

Hence for me, the future of bitcoin is bright but slow and the grind is long. But comparing what bitcoin was when I first entered the market around 2016 to what it is today in 2022, I am happy to see the progress.

The situation on the market is very difficult now, and if we evaluate all the risks, then I can say that I am now confident only in bitcoin. It is difficult to say that we have already reached the bottom because I see that now there are problems with binance, and this may lead to a further fall of the entire market and many shitcoins may not survive in this meat grinder. But I am sure that bitcoin will survive these difficult times and will rise when the bull market comes.