Bitcoin's function 5, 10, 20 years from now

[Natsuu]

Bitcoin is a store of value and a medium of exchange, just like any other currencies around the world. The problem is that almost nobody wants to use BTC as a medium of exchange, because everyone expects the price to go up in the future. Bitcoin might be dethroned by a better altcoin, that has cheaper and faster transactions(assuming that this altcoin will be secure and truly decentralized). That doesn't mean that the function of BTC will change.

By dethrone you mean a bitcoin stepping down as the number one coin, seriously you might be right that bitcoin getting a competitor from an altcoin as a faster transaction coin could make the coin be favourite but i would say no,  no coin currently can over power bitcoin because of one thing which is total decentralization and having that speed transaction confirmation, the both just couldn’t happen together if not we would have seen it emerged. The one that comes close In having both qualities is monero, in fact monero seems to be almost more decentralized than bitcoin and what happens to its emergence? Government and exchanges treat it as a threat, that’s why others even in future wouldn’t flourish too.

While it's possible for an altcoin to shake things up in the crypto world, booting Bitcoin off its top spot is easier said than done. Bitcoin's got this OG status, thanks to being the first and having a solid decentralized network and security features. Bitcoin's not just popular for the hype, it's got a rep and acceptance that's hard to beat. Tho there's nothing wrong to be skeptical. It's normal to diverse your investments

[tread93]

By 2043 I would hope that bitcoin is used as a payment option but also as a means of using as collateral, I should expect you to be able to make any major payments such as a mortgage or car payment with bitcoin. I can sew the ease of use has been given rise due to implementation of some kind of blockchain infrastructure and blockchain being implemented into education and industry fully.

[thecodebear]

Bitcoin is a store of value and a medium of exchange, just like any other currencies around the world. The problem is that almost nobody wants to use BTC as a medium of exchange, because everyone expects the price to go up in the future. Bitcoin might be dethroned by a better altcoin, that has cheaper and faster transactions(assuming that this altcoin will be secure and truly decentralized). That doesn't mean that the function of BTC will change.

By dethrone you mean a bitcoin stepping down as the number one coin, seriously you might be right that bitcoin getting a competitor from an altcoin as a faster transaction coin could make the coin be favourite but i would say no,  no coin currently can over power bitcoin because of one thing which is total decentralization and having that speed transaction confirmation, the both just couldn’t happen together if not we would have seen it emerged. The one that comes close In having both qualities is monero, in fact monero seems to be almost more decentralized than bitcoin and what happens to its emergence? Government and exchanges treat it as a threat, that’s why others even in future wouldn’t flourish too.

"Faster, cheaper" coins have literally been tried hundreds (maybe thousands) of times and they have all failed. There is a reason Bitcoin is valuable and its not fast cheap transactions, which it can do anyway with LN.

Bitcoin is already the savings/store of value currency of the present and future. It's won that already. Nothing comes close. It still has to develop that use case on a global scale but it is clear it is on the way. Once that is established then, and only then, will it make sense for people to start using Bitcoin as a medium of exchange. There is no other cryptocurrency that could possibly compete with Bitcoin as a medium of exchange because to get to that point your need global mass ownership, and the only cryptocurrency for which their is a clear value proposition of long term ownership is Bitcoin (and maybe Ethereum but that is not a currency but just an app network base token and one that is not very decentralized).

[Luzin]

The one that comes close In having both qualities is monero, in fact monero seems to be almost more decentralized than bitcoin and what happens to its emergence? Government and exchanges treat it as a threat, that’s why others even in future wouldn’t flourish too.

It will be interesting to see some of the predictions. I hope there will be positive developments in Bitcoin. The government does not prohibit it and still permits it as a commodity. Apart from that, I hope the value will get bigger. The community will grow stronger so that Bitcoin has great strength to continue to survive. So I hope no one turns off Bitcoin because it goes against the centralized system in government. It's difficult to give accurate predictions, but in the 9 years of knowing Bitcoin I have found that the period of return to ATH prices is true.

[wiss19]

In the future like10 years from now I can see Bitcoin could be used as an investment rather than using it for it's intended purpose. With institution's embracing Bitcoin as an investment, enthusiasts will soon forget that "Bitcoin is an innovative payment network and a new kind of money." as stated on it's website. Bitcoin's high transaction fee is not ideal for payment purposes so we might see Bitcoin as an Investment in the near future.

It seems you are right with that. Not only because of its huge potential to pump up but it's also due to the rise in fees. It looks like the longer we get, the problems in fees got worse and worser.

But, there is no way that we are forgetting that BTC's main purpose is a decentralized currency. That will never happen as it was like a disrespect already to it and to the founder, especially that we are still benefiting from BTC even on its other side/use case. Despite the rise in fees, there are still people who don't see this as a hindrance to use their BTC like a typical money. I guess many are just blessed to be rich and they value decentralized more.

[elevates]

By 2043 I would hope that bitcoin is used as a payment option but also as a means of using as collateral, I should expect you to be able to make any major payments such as a mortgage or car payment with bitcoin. I can sew the ease of use has been given rise due to implementation of some kind of blockchain infrastructure and blockchain being implemented into education and industry fully.

Considering the current network congestion and high transaction fees, Bitcoin has lost its usefulness as a payment system. I do not think we as a community should think about it anymore and market it to the world. Argentina has already implemented a system where Bitcoin can be used as a contract in buying anything. I am not sure where Bitcoin would be in the future as a cryptocurrency, what I am confident about is that is USD price would be going to the moon. It will have a storage value which will be better than traditional assets like land, house, gold and others.