Will Bitcoin become better

[Russlenat]

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Will Bitcoin become better if any of these become possible?

As we know Bitcoin is not controlled by any central authority and is not centralized. The demand and supply of Bitcoin is not controlled by anyone so no authority can control the price of Bitcoin. In any case, the point you've raised certainly won't have much of an impact on Bitcoin's price. However, the market may be slightly dumping for a temporary period, but later it will rise again.

There’s no reason that bitcoin will be backed by USD as both have opposite currency feature. While USD is solely controlled by the government, bitcoin is never controlled by any third party except of its user or hodler. If ever the time comes that will be possible, maybe we are not talking anymore about bitcoin but USD in the form of its digital currency.

[Abiky]

There’s no reason that bitcoin will be backed by USD as both have opposite currency feature. While USD is solely controlled by the government, bitcoin is never controlled by any third party except of its user or hodler. If ever the time comes that will be possible, maybe we are not talking anymore about bitcoin but USD in the form of its digital currency.

Backing Bitcoin with USD is almost impossible. Especially when the US national debt exceed BTC's market cap. How will the US be able to settle its debt with BTC's current market price? Besides, the FED can't manipulate the economy when BTC has a fixed supply. Its deflationary rate will favor people more than the central bank itself.

Don't get me wrong. Bitcoin will get better (in technical terms). But it will never replace Fiat currencies. The Blockchain can't scale to everyone on Earth. Even if it did, governments won't allow BTC to displace Fiat. At least, Bitcoin is open source and decentralized. I'm confident it will become bigger and stronger than ever with the rollout of subsequent network upgrades. As long as it remains a useful Fiat alternative, there should be nothing to worry about.

[mirakal]

It is the hope of every Bitcoin investors that Bitcoin increases and gets better. I believe the government who are still fighting against Bitcoin will one day come to realisation that Bitcoin is a good currency and not a scam. Many critics are now Bitcoin investors, but the question is, what must have triggered them to change minds? The same reason might been seen by those government and they'll change too.

Bitcoin will improve as developers continue to innovate on it. But the beloved cryptocurrency will never reach a point where it will replace existing Fiat currencies. Governments simply won't allow this to happen.

I'm hoping BTC fees decline with subsequent network upgrades (unless the Ordinals craze spirals out of control). The LN is NOT a long-term solution to Bitcoin's problems. Current market volatility, slow confirmation times, and high fees are what's limiting Bitcoin's mainstream adoption. Unless these issues are solved, BTC will remain a store of value forever. Is this what we want?

Yes, it has been noticed that once the fees go high, it gives discouragement to the community and it is not looking good. If the fees remain at their lowest amount, that would gain more interest and adoption instead of fiat money. But I see the situation is now worsening and that is even more worrying and also hard to convince someone to use it when fees are no longer acceptable and fair. If we only have an option to keep it at $1(and below) and fast confirmation, it is more encouraging.

And talking about LN. I'm not sure if it works so well because not all are techy enough which I think that LN is not really the best option to take than waiting for the fees to calm down.

[liasbaa]

I think bitcoin is the most popular crypto for people to invest or save. Only one country in the world has legalized Bitcoin through legal tender, but it is a globally accepted cryptocurrency and the number of its holders is constantly increasing. Even many investment institutions are choosing to hold Bitcoin and will increase their investment in the future.

[beerlover]

It seems the president doesn't even know what Bitcoin is, how can the US Dollar back Bitcoin which is a decentralized currency.  Their is no meaning in all these, it is just a mere talk trying to gain people's interest and I'm not surprised because this is the nature of politicians. No needs for the president to talk too much, the only impact he can offer to bitcoin is mass adoption of bitcoin if truly he has bitcoin in mind.

One thing I know is that bitcoin will always grow even without Donald trump, bitcoin has gone through difficult times but still it still remains what it is. Donald trump can't make bitcoin better because bitcoin is not fiat or a centralized currency. Trump understands that bitcoin has gained so much users, I think he just trying to get favour from bitcoin users.

I would say that bitcoin is irrelevant to politics. Well, simply because while it would be good or bad depending on what the president does with bitcoin, we have seen the all time high during Biden, and yet a lot of people think that Biden hates bitcoin, or at the very least Biden's team hates bitcoin because not like Biden knows what bitcoin even is, he probably doesn't even know about it.

So all in all, if bitcoin thrived under an administration that people think hates bitcoin, then I would say it really doesn't matter. One thing that would be terrible is if any of them would ban it, and neither is banning it, that is not on the cards, so it really doesn't mean that any of them will make a big difference, it is going to be same in either case.

[mahzan77]

What is the gain if the US dollars is backed by Bitcoin? Is this even a possibility? This came from  Kennedy and also Trump claimed that he will make sure that Central bank digital currency won't become a thing.

What is the advantages and the disadvantages you see here? Ate these people just saying anything that they can think of? Or this is possible? The biggest liars of the century are from the politicians around the world , once they get elected they do something else.

Will Bitcoin become better if any of these become possible?

When Bitcoin was introduced to the world in 2009, it was intended to revolutionize the way people could access and control their money. But that revolution has hardly come to pass. The cryptocurrency's tumultuous first decade was marked by scandals, missteps, and wild price swings—its second has been no different.

Large-scale fraud, theft, regulatory battles, and more continue to make the headlines. It's difficult to say what will happen over the next decade, but here are some thoughts about Bitcoin's future.

Bitcoin's Future
While its price and popularity with certain investors are important, it's critical to note that regardless of value changes, scandals, and news, blockchain developments over the next decade will be the most important.

Issues regarding decentralization, scalability, and security are the factors holding Bitcoin back from more widespread adoption. These concerns must be addressed for the cryptocurrency to gain traction as more than a speculative investment. Bitcoin developers are working diligently to find solutions, but for the most part, they have been unsuccessful.

Reference : https://www.investopedia.com/tech/what-will-happen-bitcoin-next-decade/

[ChiBitCTy]

What is the gain if the US dollars is backed by Bitcoin? Is this even a possibility? This came from  Kennedy and also Trump claimed that he will make sure that Central bank digital currency won't become a thing.

What is the advantages and the disadvantages you see here? Ate these people just saying anything that they can think of? Or this is possible? The biggest liars of the century are from the politicians around the world , once they get elected they do something else.

Will Bitcoin become better if any of these become possible?

No, it is not possible for the US dollar to be backed by bitcoin or anything else for that matter any longer.  The US dollar was once back by gold, but they got rid of that as it was not really a good idea, only in theory. 

Bitcoin will get better, there's no doubt in my mind about that.  Some of the most important things are transactions speeds/costs which I know is being worked on.  I just wish it was going a little bit quicker, but...Rome wasn't built overnight.

[Wakate]

I think bitcoin is the most popular crypto for people to invest or save. Only one country in the world has legalized Bitcoin through legal tender, but it is a globally accepted cryptocurrency and the number of its holders is constantly increasing. Even many investment institutions are choosing to hold Bitcoin and will increase their investment in the future.

There is nothing hidden about Bitcoin but the problem is that we might be arguing whether to invest in it or to look for anything other thing to out money it. From day one, there had been people that have never thought if investing in Bitcoin and all they think was Bitcoin was going to fall and could never rise again. Now we can see that the price keeps going bullish and everyone is ready to take the opportunity to make money from the bull that is why we are seeing institutional traders and firms buying and accumulating because they are convinced that the price is going to skyrocket soon.

[eightdots]

The biggest liars of the century are from the politicians around the world , once they get elected they do something else.

Keep in mind politicians are the reflex in the mirror of the citizens from their respective countries. Politicians are to be blamed, but if they are able to have so much influence and reach the power positions they are currently in, you have to blame some other people as well...

Bitcoin won't become better because it's endorsed by politicians or governments. Bitcoins exists and works independently of political propagandas, and it has been always like this since the beginning. Probably that is why it has been working so nicely so far, and I hope it still continue working this for a long time yet!

The impact of politicians over Bitcoin, as I see, is the fact they have influence over a lot of people's actions. If they tell people to behave somehow, they immediately follow the orders. Then we could speculate that if politicians ordered people to use Bitcoin, they would adopt it on the same moment, what would have effect over Bitcoin's demand and price positively. The question is, why would they do this? It doesn't seem to benefit them in anyways.

We know that Bitcoin cannot be linked to politics. Just because politicians say something about Bitcoin while talking does not mean that Bitcoin will continue on its way or not. Generally Since they like to talk about every subject, it is natural for them to talk about a popular and proven entity.

I don't think Bitcoin investors will invest based on the opinion of a political person. People who invest in Bitcoin are generally people who do their own research and act in a planned manner. Of course, not all investors are the same and there are people who will invest with the guidance of politicians, but the investors I am talking about are real Bitcoin investors.

[Natalim]

What is the gain if the US dollars is backed by Bitcoin? Is this even a possibility? This came from  Kennedy and also Trump claimed that he will make sure that Central bank digital currency won't become a thing.

What is the advantages and the disadvantages you see here? Ate these people just saying anything that they can think of? Or this is possible? The biggest liars of the century are from the politicians around the world , once they get elected they do something else.

Will Bitcoin become better if any of these become possible?

It won't be possible. Bitcoin is made to gain freedom from any group or entity, that's why it comes with a decentralized nature so that any third party cannot access one's bitcoin ownership except the owner itself. And if there are chances that bitcoin will backed USD, certainly no. Although no one holds the future with bitcoin, but as long as bitcoin remain decentralized, USD and other currencies will never be successful in getting bitcoin to back up them.

[amihada]

It's not fiat, it can't support bitcoin, including dollars, Bitcoin doesn't depend on fiat. Currently, many people doubt this, so there are opinions about the badness of Bitcoin. This is a stupid thing. In my opinion, there's no need to waste your thoughts on things like that. Bitcoin stands alone and cannot be linked to anything, including fiat.

[Abiky]

It's not fiat, it can't support bitcoin, including dollars, Bitcoin doesn't depend on fiat. Currently, many people doubt this, so there are opinions about the badness of Bitcoin. This is a stupid thing. In my opinion, there's no need to waste your thoughts on things like that. Bitcoin stands alone and cannot be linked to anything, including fiat.

With how centralized the crypto market is, we could say BTC is heavily-dependent on Fiat to survive. Even if the cryptocurrency is decentralized by design. The approval of spot ETFs has made matters worse. I've noticed that the strengthening of Fiat currencies (particularly the USD), has has a negative effect over crypto market prices. A weakening USD should be able to turn things bullish again.

Technically-speaking, Bitcoin will get better. That's assuming developers (and the community) continue to support it. BTC has done well over the past 15 years, so I'm confident it will last another 1-2 decades. Perhaps, even more. We can't predict the future, so lets hope for the best.

[Ojima-ojo]

Is bitcoin now an anti government because that is only the reason why we should ever consider any such possibility as a positive sign for bitcoin, but for now as best as we know, bitcoin is just acting as an alternative to the central bank currency which is the traditional financial system which have alot of limitations.


But then also it almost impossible to have such situations since bitcoin would never be backed by the US dollars on a centralised mode.

[Raflesia]

What must have prompted them to compel their citizens not to use crypto is because they are afraid that, crypto might one day take over their currency, even as I flatiron keep striking. Traditional fiat currencies are likely to experience inflation but aside scam crypto coins, the rest are can much more profitable when you study the market carefully before making any drastic decision that could lead to financial breakdown.

But in the end something like this will also not have a big impact and is sustainable because after all, it is very difficult to force people not to adopt bitcoin even if it starts with government regulation.

We have seen conditions like this happen in China and not even once but many times. But in the end, the development of bitcoin which is difficult to control makes the ban regulation not go according to plan even though the perceived impact remains when China tries to ban bitcoin but the resulting impact is still unable to drop bitcoin so that in the end the situation remains the same and nothing is different.

By looking at a situation like this, I think trying to ban bitcoin again will ultimately result in the same result where the impact that will be generated is not as big as expected which makes them try to get back close to bitcoin and even try to adopt bitcoin as an approach that is actually more effective than banning it.

[Psalms23]

Well, the idea of backing the US dollar with Bitcoin is interesting but very difficult. Bitcoin has a limited supply and is usde worldwide, which could help the dolllar. However, Bitcoin’s value changes a lot, and it uses a lot of energy. There are also many rules and security risks.

Changing to a Bitcoin-backed dollar would needs big changes in laws and systems, and it’s unclear if there’s enough political support. Politicians like Kennedy and Trump may talk about this to get attention, but making it happen is much harder. If it did happens, it could make Bitcoin more accepted and drive new ideas, but the path to get there is very complex.

[Zanab247]

Will Bitcoin become better if any of these become possible?

Since government and politicians are not the one controlling BTC, it will not be possible for all those things to come to reality because they only have power to control decentralized currency and dollar, they can make it better or worse to their citizens.

You can research to know when the price of BTC is coming from and where the price is right now, I believe you will agree with me that BTC will continue to get better to allow those that put their money to earn a good profits that will make them to continue to choose BTC among others cryptocurrencies.

That is why is very good to have knowledge of BTC before going into the business, because it will be difficult for people to deceive you with fake information that will discourage you from BTC business.

[Abiky]

Well, the idea of backing the US dollar with Bitcoin is interesting but very difficult. Bitcoin has a limited supply and is usde worldwide, which could help the dolllar. However, Bitcoin’s value changes a lot, and it uses a lot of energy. There are also many rules and security risks.

Changing to a Bitcoin-backed dollar would needs big changes in laws and systems, and it’s unclear if there’s enough political support. Politicians like Kennedy and Trump may talk about this to get attention, but making it happen is much harder. If it did happens, it could make Bitcoin more accepted and drive new ideas, but the path to get there is very complex.

I don't think the USD will be backed by BTC. It's nearly impossible. This is only a pipe dream for those obessed with the cryptocurrency. We need to face the fact (reality) that Bitcoin is limited by design (both as in max supply and network performance). It will get better for sure, but not to a point where it will replace VISA or other centralized payment processors. It won't be able to replace Fiat either. Governments simply won't allow this to happen.

I'm fine with that as long as BTC proves to be a reliable alternative that's decentralized and truly censorship-resistant. The recent approval of spot ETFs in the US and abroad, will further propel the cryptocurrency's price to the moon. Hopefully, the Blockchain itself doesn't get compromised in the long run.

[Out of mind]

This will never be possible, as Bitcoin is not regulated by any authority and its demand cannot outstrip its supply. Moreover, no country's government controls Bitcoin, the demand for Bitcoin is currently much greater than the supply of Bitcoin. If the US dollar is banked with Bitcoin then the position of Bitcoin will worsen, although it is not possible, but I think that the value of Bitcoin will decrease a lot. That is why it is never possible and the value of Bitcoin will always be high and no one has the power to lower it. Also, Bitcoin is not a property, and if the US dollar is with the bank with the Bitcoin, then it would certainly become property, and this is never possible.

[mumang siat]

There’s no reason that bitcoin will be backed by USD as both have opposite currency feature. While USD is solely controlled by the government, bitcoin is never controlled by any third party except of its user or hodler. If ever the time comes that will be possible, maybe we are not talking anymore about bitcoin but USD in the form of its digital currency.

 Yes I agree, Bitcoin runs on a different market than USD and we think they will continue to be at odds, considering that USD follows a government system and where Bitcoin runs on a decentralized market, it can be said that no one can control Bitcoin, and this is the Cryptocurrency market where Bitcoin is far superior in every way we know.

[EarnOnVictor]

What is the gain if the US dollars is backed by Bitcoin? Is this even a possibility?

No, it's not possible, the US dollar can't be backed by Bitcoin, but Bitcoin can on the other hand be backed by the USD which is senior and has witnessed centuries that Bitcoin has never witnessed. Also, the US dollar is linked to the strongest economy in the world, what is Bitcoin linked to? So don't let us even go there.

This came from  Kennedy and also Trump claimed that he will make sure that Central bank digital currency won't become a thing. What is the advantages and the disadvantages you see here? Ate these people just saying anything that they can think of? Or this is possible? The biggest liars of the century are from the politicians around the world , once they get elected they do something else.

Trump is everywhere now, I hope we will rest soon. But I love the way you are not a bigot about this and it's true that politicians can't be trusted, of which Trump will be one of the worst when it comes to sincerity. Was the CBDC possible during Biden's administration, did they even push it, why is Trump lousy about it?

Let's assume that he made good his intention if elected, for how long, won't another government take over after 4 years, so why is he acting as if he will be the US president forever? People should be wise.

As for the advantage of CBDC, there will be wider access to the USD globally. But the disadvantage is that it will kill many financial services.

Will Bitcoin become better if any of these become possible?

No, Bitcoin will not be better and may not be negatively affected either because CBDC is centralised and Bitcoin is decentralised, they serve different purposes.