Will Bitcoin exit forever?

[larry_vw_1955]

4. I doubt people will ever lose interest in Bitcoin. As we know, many consider Bitcoin to be an asset and as long as there is profit to be made, I believe that the interest will remain.

I'm not sure i agree with you. I think in the future, we're going to see more Universal Basic Income. If I was receiving a UBI, I would no motivation to spend it on bitcoin.

[Smack That Ace]

Bitcoin is here to stay,
Despite the fact that no one can actually say for sure if bitcoin will stay forever, but from the look of things, bitcoin is here to stay and will stay forever.
One thing I’ve known is that, bitcoin has a very strong community who are willing to make sure bitcoin keeps working and currently, I personally think, bitcoin has grown passed the stage where it will be influenced by every little things or news like a ban in a country or its likes.

I don’t think a countries regulation will actually have any major impact on bitcoin as it stands now and just like the case with my country, where the p2p market was banned in a lot of exchanges, that didn’t actually affect the global market of bitcoin despite Nigeria being among the list of highest bitcoin accepted country.

The value of any asset depends on demand and requires community support to survive, not just bitcoin. But the community will only support when they get benefits from them and here bitcoin is bringing profits, different use cases to the community. So I won't say that bitcoin will last forever and its survival will depend on the community, if they find a better asset than bitcoin in the future, it won't be surprising if they abandon it. In my opinion, what lasts forever is personal benefit and community benefit, not bitcoin or gold that will last forever.

A country's ban does not represent the whole world, so one or a few countries banning bitcoin are no different from those wanting to fall behind instead of thinking they have enough power to ban bitcoin.

[Wonder Work]

I think it's foolish to think that Bitcoin is forever because everything is changing. Because Bitcoin is doing so well right now, there may be a better coin to come in the cryptocurrency world. We can't think of anything forever, everything is temporary, and Bitcoin is something like that. But it's different because it's become an asset. I or you will be gone, but this Bitcoin will see its use continue for generations to come. If Bitcoin comes to such a good position at some other point after that, if Bitcoin can leave behind and move forward, then that is a different matter, but its use will continue in this way for the next few days.

[Maus0728]

How would bitcoin exit when the demand for it remains? Remains what exactly? I think that if there's a demand for it, then there's no way that bitcoin's going to go away anytime soon and that it's going to be that way forever, the worry about the innovations and flaws of bitcoin isn't really warranted given that there's a lot of developers out there that are tweaking bitcoin since it's open source, ain't no way that a bug or flaw would go amiss when there's thousands of people that are watching bitcoin 24/7.

[Notalony]

Well according to little idea of my Bitcoin has been designed to be a decentralized and persistent store of value , it's the future is not guaranteed.

  Bitcoin could exit indefinitely if:
1  The demand for Bitcoin remains, and people continue to use and accept it.
2 The decentralization network of computers verify transactions (node) continue to operate.
3. No significant technical or security flaws are discovered that could compromise the network.

However, there are also potential risks and uncertainties that could impact Bitcoins existence, such as:

1. Regulatory changes or bans in various countries.
2. Competition from other cryptocurrency or alternative technologies.
3. Security threats or 51% attacks on the network.
4. Loss of public interest or confidence.

It's important to note that the concept of "forever" is relative, and even if Bitcoin doesn't exist in its current form.

For me I will say that instead of thinking much about what will become of Bitcoin in the future, while not take much it's present advantage buy accumulating Bitcoin as little as you can and hold, historically Bitcoin has shown a massive wide spread adoption and has also increase in it's value, the future is untold but I believed Bitcoin has a good foundation and will
exit forever as a financial freedom because it's decentralized nature.

[Fara Chan]

For me I will say that instead of thinking much about what will become of Bitcoin in the future, while not take much it's present advantage buy accumulating Bitcoin as little as you can and hold, historically Bitcoin has shown a massive wide spread adoption and has also increase in it's value, the future is untold but I believed Bitcoin has a good foundation and will
exit forever as a financial freedom because it's decentralized nature.

If you look at the widespread adoption of Bitcoin and also the great people who currently own Bitcoin, of course there is good potential for the future of Bitcoin itself apart from the development of Bitcoin value which can be seen by everyone through the history of Bitcoin itself. So personally I no longer doubt the future of Bitcoin at all even though the OP has explained several points that need to be thought about, although this is not something to be afraid of because no matter what the current conditions are, Bitcoin will continue to improve in the future.

[Scarlett_23]

Everything in the world is mortal.  Nothing lasts forever.  But Bitcoin can be said in this way that Bitcoin will continue from one generation to another.  Bitcoin is on demand in this technology dependent society.  While some countries around the world have banned Bitcoin, many countries have accepted Bitcoin.  A few more virtual currencies like Bitcoin have emerged.  But others like Bitcoin have not gained as much acceptance.  If a stronger currency comes out of BTC that people will benefit from more than Bitcoin then maybe it will compete. But there is no telling if this is possible.  Because no country or organization has been able to take ownership of it till date.

[Marvell1]

How would bitcoin exit when the demand for it remains? Remains what exactly? I think that if there's a demand for it, then there's no way that bitcoin's going to go away anytime soon and that it's going to be that way forever, the worry about the innovations and flaws of bitcoin isn't really warranted given that there's a lot of developers out there that are tweaking bitcoin since it's open source, ain't no way that a bug or flaw would go amiss when there's thousands of people that are watching bitcoin 24/7.

Bitcoin will only disappear when the demand for it is gone, but looking at what's going on, the real demand for bitcoin hasn't even begun yet. I mean the world is just starting to care about it, things are just starting, why are we in such a hurry to think about it going away? I'm not saying bitcoin will last forever but I'm pretty sure it could last longer than we think, so let's not waste time arguing about something we won't live to see.

If bitcoin was truly flawed and its existence could be threatened, perhaps the government would have done it a long time ago instead of waiting until now or in the future. Bitcoin may not be perfect, but those small flaws won't affect its existence.

[SmartCharpa]

1. Regulatory changes or bans in various countries.
2. Competition from other cryptocurrency or alternative technologies.
3. Security threats or 51% attacks on the network.
4. Loss of public interest or confidence.

Despite the government has banned cryptocurrencies in several countries, it is hard to remove their existence. Did you believe that only today's youth benefited from Bitcoin investment? If that is the case, you must be wrong, because some governments in many countries gain from Bitcoin, which is why they cannot decide to ban it in every country.

However, it is not bad that you asked if Bitcoin will last forever. I believe that would be a simple question to answer on your own. Are you going to live forever? No!! No human can live forever, we shall all die one day, I don't think anyone in this generation will see the end of Bitcoin. Bitcoin has been created so that humans can use and benefit from it, this generation will leave Bitcoin existing, but I believe that one day it will no longer exist. Other cryptocurrencies are doing well in the market, but I'm confident that no other coin can challenge Bitcoin. Bitcoin is now ruling the world and is going to continue to do so in the future.

[letteredhub]

However, there are also potential risks and uncertainties that could impact Bitcoins existence, such as:

1. Regulatory changes or bans in various countries.

Lately some of those countries that before now made a ban on bitcoin and other cryptocurrency within their jurisdiction has started lifting the ban, some not completely yet but there's an allowance with the restrictions. On this note I see an opposite impact.

 
2. Competition from other cryptocurrency or alternative technologies.

Let the competition exist, if there hadn't been any competition from other altcoins how would people have known that bitcoin is the best and reliable crypto to invest in. No matter the competition that may exist or the development of more projects I don't think any would overtake bitcoin with it's POW.

 
3. Security threats or 51% attacks on the network.

W keep hearing that till now.

 
4. Loss of public interest or confidence.

It's important to note that the concept of "forever" is relative, and even if Bitcoin doesn't exist in its current form.

Nothing lasts forever but there are developments could last a century and more and maybe bitcoin is one of those devs, need not be that we allow that concept of nothing lasts forever sink  in our mind right now about bitcoin as it's still in it's adolescent stage of growth.

[AYOBA]

I have doubts that the Bitcoin will continue to exit as long as the demand is still available. Noting can stop the Bitcoin from lasting forever, even when some of the governments in various countries are plan to ban Bitcoin so that it will not exit again. The Bitcoin can only disappear when the demands are known more again, but currently, with the way so many people's are enjoying Bitcoin transactions now, in my own view, even the banks are not functioning in terms of running fast transactions. 

[PrivacyG]

Nothing lasts forever; even bitcoin to me won't last forever, but it's definitely going to take almost forever. At least this generation might not be able to witness that if it's ever going to happen.

I doubt Bitcoin will stay in this form anyway.  We can barely predict bad events that may happen in an year or so.  Who could of predicted Ordinals and be taken seriously?  Bitcoin will need constant improvement and adaption to the environment brought by time.

In my opinion.  Bitcoin will probably be either replaced by a better version of it or will become unrecognizable in a matter of decades.

[Blitzboy]

1. Regulatory changes or bans in various countries.
2. Competition from other cryptocurrency or alternative technologies.
3. Security threats or 51% attacks on the network.
4. Loss of public interest or confidence.

Despite the government has banned cryptocurrencies in several countries, it is hard to remove their existence. Did you believe that only today's youth benefited from Bitcoin investment? If that is the case, you must be wrong, because some governments in many countries gain from Bitcoin, which is why they cannot decide to ban it in every country.

However, it is not bad that you asked if Bitcoin will last forever. I believe that would be a simple question to answer on your own. Are you going to live forever? No!! No human can live forever, we shall all die one day, I don't think anyone in this generation will see the end of Bitcoin. Bitcoin has been created so that humans can use and benefit from it, this generation will leave Bitcoin existing, but I believe that one day it will no longer exist. Other cryptocurrencies are doing well in the market, but I'm confident that no other coin can challenge Bitcoin. Bitcoin is now ruling the world and is going to continue to do so in the future.

Listen, everything changes. Thats life as well as Bitcoin. Still, Bitcoin is the winner. Its here to stay, at least for a while. Not only for young people but for everyone. Governments are not fools; they see the worth. They want a piece of this pie, and who can blame them? Bitcoin represents invention; it is the future. Will it therefore be around always? Who knows? Nothing is forever. Still, Bitcoin is based on strong ground. Its decentralized, its not tied to any one government or bank. And that technology based on blockchain? That transforms everything. Its about changing the entire planet's functioning, not only about money.

Life is about impermanence. Things come, things go. Bitcoin might not be here forever, but its here now, and its made a difference. Embrace the change, embrace the moment, folks. Invest in it, know about it, apply it. Thats how we make the most of this amazing technology.

[Abu-Naim]

Nothing last forever, but Bitcoin decentralized system dose not look like something that will fade out soon because all the systems are well designed so that no any third party can temper with it.
Miners will exist because there is an assurance that once you intend to stop mining, some people will replace and everyone that hold Bitcoin can create nodes to keep Bitcoin going.

However, there are also potential risks and uncertainties that could impact Bitcoins existence, such as:

1. Regulatory changes or bans in various countries.
2. Competition from other cryptocurrency or alternative technologies.
3. Security threats or 51% attacks on the network.
4. Loss of public interest or confidence.

These reasons are not close to enough to get Bitcoin down, in fact I am not seen them as potential risks that will affect Bitcoin.
Not any coin can compete with Bitcoin because they are copying from it. Bitcoin will always gain more interest from the general public.

[serjent05]

1. I don’t think the government can stop Bitcoin from existing. IMO should nations of the world all simultaneously ban Bitcoin, it would only make Bitcoin a rare commodity and cause an increase in the price.

Due to decentralized nature of Bitcoin, the government cannot completely stop Bitcoin but it will greatly affect its users by simply banning the Bitcoin transaction and apprehending users.  This will instill fears to people and make them avoid participating in Bitcoin economy.  Government banning can hinder to stop the adoption of Bitcoin in their country, especially those huge institutions.

2. Most altcoins have no utility, no real use case. They are only good for trading as they yield more profit than Bitcoin. In the long term, Bitcoin will outlive altcoins because it cannot be manipulated by anyone not even the creator or developers.

Trading itself is a real-life utility same goes for investment and the line "they yield more profit than Bitcoin" is good enough reason for many traders to hop into altcoins.  The only factor that keeping Bitcoin investors are security and the strong liquidity of the Bitcoin market.

On the other hand, altcoins can be easily manipulated by the developers.

On the other hand, the Bitcoin market can be easily influenced if not manipulated by those who have a strong presence in the economic sector.  Both altcoin and Bitcoin can be manipulated it is that for Bitcoin market to move manipulators needs a much bigger amount of fund.

4. I doubt people will ever lose interest in Bitcoin. As we know, many consider Bitcoin to be an asset and as long as there is profit to be made, I believe that the interest will remain.

There are already people who have lost interest in Bitcoin and focused on altcoins, it is that the people who lose interest in Bitcoin are greatly outnumbered by people who get interested and comeback to Bitcoin.

In my opinion.  Bitcoin will probably be either replaced by a better version of it or will become unrecognizable in a matter of decades.

Bitcoin will continue to develop, the developer won't let the progress of Bitcoin stagnate aside from the developer those who have huge holdings will continue to protect and support the Bitcoin network since they have to protect their wealth and continue to grow it through Bitcoin development and market proliferation.

[DubemIfedigbo001]

Well, I'm not in the position to know about forever because you and I would not be here forever. You and I met bitcoin, and with the features and value it holds, I'm optimistic we would leave it behind when we cease existing.

Staying forever should not be your problem, Bitcoin has come to stay and continues increasing In value, thanks to the continuous adoption by individuals and countries alike.

I advise you to remove your mind on the forever aspect and start accumulating as much as you can because bitcoin has strong prospects and would stay competitive for a long time, those who were pessimistic about bitcoin from the onset lives in regrets now and you wouldn't want to be one of them.

[coolcoinz]

1. Regulatory changes or bans in various countries.

You cannot ban bitcoin. Many countries tried that, China being a great example.

2. Competition from other cryptocurrency or alternative technologies.

Competition is great, but bitcoin has the advantage that can't be ignored.
It's that runner that started running when you were in the changing room. You won't be able to catch up unless he trips and breaks a leg.

3. Security threats or 51% attacks on the network.

That can't be done unless someone spends billions of dollars to do it. It won't happen because someone would need to have a lot of money and be crazy enough to burn all of it.
Attacking bitcoin is not worth the resources needed.

 

4. Loss of public interest or confidence.

I sometimes wonder why people did not lose confidence in the FED yet, or the banking system... Why would they lose confidence in bitcoin if they still believe in institutions that steal from them?

[Franctoshi]

Well according to little idea of my Bitcoin has been designed to be a decentralized and persistent store of value , it's the future is not guaranteed.

  Bitcoin could exit indefinitely if:
1  The demand for Bitcoin remains, and people continue to use and accept it.
2 The decentralization network of computers verify transactions (node) continue to operate.
3. No significant technical or security flaws are discovered that could compromise the network.

However, there are also potential risks and uncertainties that could impact Bitcoins existence, such as:

1. Regulatory changes or bans in various countries.
2. Competition from other cryptocurrency or alternative technologies.
3. Security threats or 51% attacks on the network.
4. Loss of public interest or confidence.

It's important to note that the concept of "forever" is relative, and even if Bitcoin doesn't exist in its current form.

Looking at the system of exchange, from trade by bater down to the current Fiat, paper money and now we are slightly heading into Bitcoin standard and digital currency as form of exchange,  well no one can actually predict the future and what it will bring about, but in as much as the fiat monetary system has lasted up to date, I believe if we totally cling into Bitcoin standard as a medium of exchange worldwide, it definitely going to take quite a number of centuries before we will see another form of money that will be out for exchange too.

[DiMarxist]

But as a currency it will stay long but will come and go but bitcoin bitcoin will still be existing. Therefore bitcoin will stay long but we have to know that nothing exists forever. As human we have used different kinds of things for exchanging goods and services even before currency was introduced.
And now digital currency is trying to take over the physical and fiat currency and it this really happened then bitcoin will last long but from centuries to come it will also end and another way of exchange will take place but for the transaction fee issue, I don't think bitcoin will take over fiat.

[legiteum]

Well according to little idea of my Bitcoin has been designed to be a decentralized and persistent store of value , it's the future is not guaranteed.

Bitcoin could exist indefinitely if:
1  The demand for Bitcoin remains, and people continue to use and accept it.

I'll stop you right there. There's a difference between Bitcoin "existing" and Bitcoin being the mainstream investment that it is today.

Bitcoin "existed" back in 2010 when the price of one Bitcoin was $0.10 and only a few people used it. Hardly anybody had heard of it, but it definitely "existed".

However, there are also potential risks and uncertainties that could impact Bitcoins existence, such as:

1. Regulatory changes or bans in various countries.

Again, Bitcoin "not existing" would be hard for regulators to pull off, but if Trump is elected he could declare that his own coin should be the only one that is legal so he could make himself the richest person in the world and outlaw Bitcoin in the USA, and that would drop the price of Bitcoin by about 95%. But Bitcoin would still "exist".

2. Competition from other cryptocurrency or alternative technologies.

Fun fact: IBM mainframes still exist. And they are still a multibillion dollar business for IBM. Most people probably think they don't exist anymore because they've never seen or used on, but they are definitely still around.

As for competing architectures, obviously I am biased, but I personally think that the blockchain architecture will go the way of the IBM mainframe because a much better digital currency architecture now exists and it will eventually take over.

3. Security threats or 51% attacks on the network.

At 51% attack would almost certainly try to take over Bitcoin and get the value from it, not destroy the network as such. We discussed in this at length in another thread, and one key part of the plan would be that the attacker would hold Bitcoin holders hostage in order to take over, not destroy it outright.

4. Loss of public interest or confidence.

That's really just saying the price might go down. It might. Again, it still "exists" if the price goes down.