I’m worried about the future of Bitcoin

[Plaguedeath]

Are you really more concerned about miners than the transaction fees (fiat-based) we will pay in the future when bitcoin is super-hyper-mega valued? lol

That's why we have lightning network, so we don't need to worry with high fees in the future. What is more concerning is does Bitcoin will be super hyper mega valued in the future? limited supply doesn't entirely mean the price will keep increasing, limited supply is pointless if we have zero demand.

Central bank digital currencies are antagonists to Bitcoin. Can Bitcoin coexist with CBDCs? I don't have an answer to this question....

The only way CBDCs become an antagonist to Bitcoin if it's price keep rising every four years regardless it's centralized or decentralized. CBDCs price are pegged with fiat, so they will not be able to replace Bitcoin.

[uneng]

What is more concerning is does Bitcoin will be super hyper mega valued in the future? limited supply doesn't entirely mean the price will keep increasing, limited supply is pointless if we have zero demand.

Demand for Bitcoin is constantly increasing along its cycles. Historical data has been positive for Bitcoin, and the scarcity factor just adds more value to BTC along the years. If it will continue happening continuously we can't guarantee, but Bitcoin just reached its current position because adopters saw on it a real and practical usage for their lives.

If it was just a trend or ponzi, like many have already said, I think demand would have already fallen apart. Moreover, it wouldn't have been adopted by mainstream sectors of society and popular figures of financial world.

Bitcoin isn't only a profitable investment, but also a mean to protect your money against seizure. And there will be always demand for that kind of protection in the world.

[ml9999]

No, even once no new bitcoin is being mined, miners will still receive the transaction fees. Also, unlike with most other cryptos, bitcoin's hard supply cap means that it will only become more and more scarce, therefore the price will most likely keep increasing forever.

[milewilda]

I heard that the reward is halved every 4 years after each halving, so the reward miners will receive will always approach zero. To maintain the Bitcoin network, the price of Bitcoin must keep rising infinitely, which is impossible. Could there be a point where the value of the Bitcoin miners receive is almost zero, and the Bitcoin network collapses due to a lack of miners?

Is it possible that Bitcoin could increase its total supply in the future? But that would certainly cause Bitcoin’s price to drop significantly.

Could Bitcoin switch to PoS like Ethereum? That would also cause Bitcoin’s price to fall.

I don’t know if my understanding is correct

Why would worry too much on something that will happen on 2140? COnsidering that this would really be the last halving on which rewards would be cut off since there's no block would be mined.?
If we do speak about miner rewards then it would be surely that be focusing too much on the fees on where Bitcoin transactions would be made. Assuming that Bitcoin will really be able to reach up this year
then we can also that tell that price or value might really be that on the top or peak price on which all of us that are living now, wont really be able to see if this stuff happens or not.

As for increasing the total supply then it cant be possible but who knows if it would be something that could be minted out but as far as we do all know that it cant be just that possible.

If you are really that too mindful about the risks and possibilities then it will really be always recommended that you should really be that investing into amount on which you can afford to lose.
Never make yourself going all in with Bitcoin investment and also its not really that somehting healthy that you would really be stressing yourself on minding about on what Bitcoin would look like
and somehting happens into those future years on which we do even know that we are already dead that time.

[Rengga Jati]

if the price or fees don't rise enough, it could result in lower miner profitability, potentially reducing the number of miners and compromising the security of the network. It is possible that mining could become less profitable for smaller miners, but this would likely result in mining centralizing rather than the network collapsing altogether.

What fees? Do you mean Bitcoin transfer fees?
If you refer to Bitcoin value, it is always increasing although it follows 4 years-cycle.
Well, it doesn't solely about the Bitcoin value but it is also about the Bitcoin adoption. As long as Bitcoin adoption continues, people must keep interesting in Bitcoin. This will keep the interest of miners. Moreover, the price of Bitcoin never disappoints the holders, there will be always many people to try mining Bitcoin.

For small miners, the equipment and electricity will be quite expensive. It may be hard for them to spend capital on these things. But for big miners, it seems no problem because they also target for bigger number of Bitcoin.

[markm]

Both are still alive to this day,

I wouldn't use the term "alive" to describe them. I couldn't find any I0Coin explorer or exchange. That is a dead coin.

IXCoin has an explorer and basically is on no exchange (is on Yobit, which isn't even counted as an exchange)
[snip]
chainz.cryptoid

Actually both IXCoin and I0Coin are on FreiExchange, as is DeVCoin, though DeVCoin dropped below 1 satoshi price so was also implemented on FreiXlite. All three are also on Horizon and Stellar.

If enough DMD can be put toward building buy-sides all might hopefully yet also be set up on the DMD Diamond platform once DMDv4 comes out but experience trying to build decent buy-side order-books on Stellar has made it seem like that last could be a slow process, probably best left until after the order-books on Stellar are closer to par with the "treasury based" computed values used by the Galactic Milieu as a work-around around the problem of there not being enough players actively constantly doing market-making and arbitrage to provide sufficiently "efficient" spot markets to allow use of "price discovery via spot markets" to be reasonably feasible.

-MarkM-

[Yatsan]

I heard that the reward is halved every 4 years after each halving, so the reward miners will receive will always approach zero. To maintain the Bitcoin network, the price of Bitcoin must keep rising infinitely, which is impossible. Could there be a point where the value of the Bitcoin miners receive is almost zero, and the Bitcoin network collapses due to a lack of miners?

Is it possible that Bitcoin could increase its total supply in the future? But that would certainly cause Bitcoin’s price to drop significantly.

Could Bitcoin switch to PoS like Ethereum? That would also cause Bitcoin’s price to fall.

I don’t know if my understanding is correct

In fact Bitcoin's block fees are halved every four years, resulting in a reduction in the number of new Bitcoins issued. This design is intended to create failure. It mimics precious metals like gold. However, you are right that this raises questions about the sustainability of mining incentives as wages fall.

Of course, it is an interesting side note: block fees decrease. Transaction fees will increasingly be a percentage of revenue for the mining industry. With strong enough demand for Bitcoin, these fees can compensate for reduced block fees. Even assuming you can't predict future price movements, so long as Bitcoins continue to gain traction, this demand should drive the price up high enough that enough people will maintain interest in mining.

Your question in respect of the general nature and transition to Proof of Stake (PoS), Bitcoin has a supply limit of $21 million and if you alter that would go against the main principles. It leads to degradation in trust in the network. For a PoS migration, the Bitcoin community will probably do this because of security concerns and governance, which is based on functionality.

It all depends on a number of factors, including technological development, the regulatory environment, and market needs. It's a very interesting space to explore. And such conversations are important for understanding how these forces develop.

if the price or fees don't rise enough, it could result in lower miner profitability, potentially reducing the number of miners and compromising the security of the network. It is possible that mining could become less profitable for smaller miners, but this would likely result in mining centralizing rather than the network collapsing altogether.

What fees? Do you mean Bitcoin transfer fees?
If you refer to Bitcoin value, it is always increasing although it follows 4 years-cycle.
Well, it doesn't solely about the Bitcoin value but it is also about the Bitcoin adoption. As long as Bitcoin adoption continues, people must keep interesting in Bitcoin. This will keep the interest of miners. Moreover, the price of Bitcoin never disappoints the holders, there will be always many people to try mining Bitcoin.

For small miners, the equipment and electricity will be quite expensive. It may be hard for them to spend capital on these things. But for big miners, it seems no problem because they also target for bigger number of Bitcoin.

And it is fees for Bitcoin transfers that are critical for internet stability, especially as block fees collapse with time due to halving. Because blogging fees have crashed. Transaction fees are expected to produce the lion's share of miner's revenue.

You are right that adoption is key as Bitcoin continues to gain momentum around the world. More and more people will use the internet. This results in higher transaction volumes. And later the transaction fees are higher. This may help block them from being underpaid. This often incentivizes mining to protect the network. Even though mining fees are decreasing.

As discussed, I believe it can be a challenge for small-scale miners. As the equipment is costly as well as electricity The state is getting overwhelmed by large-scale mining operations that absorb vast sums of capital. However, if Bitcoin turns out to be volatile and demand goes up then It would be found that these giants of mining will continue to earn a profit from mining even if fees go very low.

Hence, it seems that the long run sustainability of this Bitcoin network is very much dependent on a fine balance between the adoption process. Mining Industry Efficiency and Resurging Transaction Fees: This would be an interesting area to watch, especially as we get closer to the next chapter.

[MusaMohamed]

The only way CBDCs become an antagonist to Bitcoin if it's price keep rising every four years regardless it's centralized or decentralized. CBDCs price are pegged with fiat, so they will not be able to replace Bitcoin.

CBDC is another form of fiat currency and we know fiat currencies don't increase their purchasing power. Its purchasing power only decreases with time and there is nothing like value or purchasing power increases every four years. Because governments and central banks don't burn their money supply every four years or don't halve their new supply every four years.

They do oppositely all theses, by speeding up their printing fiat currency rate or minting CBDC rate. With this trend, value and purchasing power of CBDCs will drop a lot with time.

Exchange rates between CBDCs can change and increase but it's not because of less inflation, CBDC burn, but it is correlation of economies and changes in purchasing powers of 2 CBDCs. Like during same 4 years, US dollar has its purchasing power decreases 20% but if Venezuela Bolívar loses its purchasing power more than 20% like 1000%, you can exchange 100 USD to get more Bolivar than 4 years ago, but it doesn't mean US dollar's purchasing power now is better than 4 years ago.

[Cryptomultiplier]

if the price or fees don't rise enough, it could result in lower miner profitability, potentially reducing the number of miners and compromising the security of the network. It is possible that mining could become less profitable for smaller miners, but this would likely result in mining centralizing rather than the network collapsing altogether.

What fees? Do you mean Bitcoin transfer fees?
If you refer to Bitcoin value, it is always increasing although it follows 4 years-cycle.
Well, it doesn't solely about the Bitcoin value but it is also about the Bitcoin adoption. As long as Bitcoin adoption continues, people must keep interesting in Bitcoin. This will keep the interest of miners. Moreover, the price of Bitcoin never disappoints the holders, there will be always many people to try mining Bitcoin.

For small miners, the equipment and electricity will be quite expensive. It may be hard for them to spend capital on these things. But for big miners, it seems no problem because they also target for bigger number of Bitcoin.

The fear for the future of Bitcoin is quite unfounded, because we all know that Bitcoin has been a successful innovation and that it would get up to 21million coins before it stops and the duration for it to get to the above point is in years time, when we probably ain't alive or have aged immeasurably.

The future of Bitcoin has seen several capitalist invest in owning mining farms because they can afford the cost of energy and internet services and it is nearing a time where more countries will adopt BTC and the use of cryptocurrency for normal everyday exchange or for payment on purchase of transactions.

[alastantiger]

To maintain the Bitcoin network, the price of Bitcoin must keep rising infinitely, which is impossible. Could there be a point where the value of the Bitcoin miners receive is almost zero, and the Bitcoin network collapses due to a lack of miners?

The value of Bitcoin going back to zero isn't a problem as there will be still some people that'll keep using the Bitcoin despite because when Bitcoin wasn't worth anything, we still had people making use of Bitcoin and miners mining always that they have been awarded for believing in Bitcoin. Miners don't have to worry about all Bitcoin getting mined because they have other means of getting paid for keeping Bitcoin Blockchain active. Miners are the ones that confirms your transaction and you pay them fees, they'll always get something not minding how Bitcoin price is doing.

POS is centralized and that isn't what is better for Bitcoin, POW is better and working okay. Bitcoin switching will make the price to fall because it has gone in a complete different direction from its original plan. Increasing Bitcoin total supply is not possible on the current Blockchain unless a hard fork happens making the new Bitcoin to not be the original and this will make many people to stop investing in Bitcoin including myself.

[Abiky]

We don't know the future. Currently, many countries are creating a new form of money - central bank digital currencies (CBDC). In fact, creating a CBDC is tantamount to creating a digital concentration camp, since CBDCs allow the government to completely control all the citizens' money flows. As a result, a situation arises where the money no longer belongs to the people.

Central bank digital currencies are antagonists to Bitcoin. Can Bitcoin coexist with CBDCs? I don't have an answer to this question....

Will humanity have enough energy to develop artificial intelligence, industry, agriculture, and in addition, Bitcoin? After all, electricity is a limited resource. I don't have an answer to this question either....

Will Bitcoin developers be able to resist pressure from those in power if they start convincing them that Bitcoin needs to be transferred to a new consensus algorithm (PoS)? I don't know the exact answer to this third question either...

The future is unknown to us.

Bitcoin is decentralized, so it will co-exist with CBDCs whenever governments like it or not. As long as the Internet exists, don't expect Bitcoin to go anywhere soon. What if governments decide to use BTC as the "One World Currency" instead of making CBDCs from scratch? Sounds crazy, but not impossible. They may not control the network, but they will control the coins in circulation. If institutional investment companies and exchanges keep accumulating BTC, this will be a "piece of cake". I dunno. Just speculating here.

For what I know, "the future is not set". We as the community are the ones responsible of the path Bitcoin will take in the long run. Decentralization must be preserved at all costs. Otherwise, it will be the end of financial privacy and freedom. I wouldn't worry about energy being a "limited resource", though. There are already talks about using nuclear power plants at a large scale worldwide. Governments will probably give the "green light" for the development of Fusion reactors, which are much safer than existing Fission reactors. Despite all that, I'm sure BTC will carry along as usual. Not even Quantum Computing will pose a threat to it. Bitcoin will ultimately adapt itself to the latest trends, thanks to its open source nature. Talk about being sound money.

[MusaMohamed]

Bitcoin is decentralized, so it will co-exist with CBDCs whenever governments like it or not. As long as the Internet exists, don't expect Bitcoin to go anywhere soon.

Beyond normal Internet, we have Satellite Internet like Starlink and beyond Starlink, we have other things like [Total privacy Bitcoin]: off grid Transactions LoRaWan/goTenna

What if governments decide to use BTC as the "One World Currency" instead of making CBDCs from scratch? Sounds crazy, but not impossible. They may not control the network, but they will control the coins in circulation.

If more and more countries add Bitcoin to their national treasuries, Bitcoin will become stronger and grow up to be more like "The end game" like Michael Saylor said recent months. It is a very bullish scenario with many assumptions but like you, I don't think it is impossible.

Expect more governments appear here https://bitcointreasuries.net/ and will hold their bitcoins as national treasury, not seize from criminals and dump it on the market.

[Princess Leah]

I heard that the reward is halved every 4 years after each halving, so the reward miners will receive will always approach zero. To maintain the Bitcoin network, the price of Bitcoin must keep rising infinitely, which is impossible. Could there be a point where the value of the Bitcoin miners receive is almost zero, and the Bitcoin network collapses due to a lack of miners?

Is it possible that Bitcoin could increase its total supply in the future? But that would certainly cause Bitcoin’s price to drop significantly.

Could Bitcoin switch to PoS like Ethereum? That would also cause Bitcoin’s price to fall.

I don’t know if my understanding is correct

I see you're very new here, well I joined the forum this year as well but I've enhance my knowledge about Bitcoin by paying attention to the vital informations concerning Bitcoin from older members, well I don't know if you've started your Bitcoin investment journey but if you've not, all I can say is that you should worry more about starting your portfolio or buying more Bitcoin if you've started already, instead of getting worried about the price.

 So far, Bitcoin have made about four circles over the years if am not mistaken and within that period the price of Bitcoin has fallen and risen again, that's just it's nature and it's called Volatility, it's something that's bound to occur for Bitcoin to keep existing therefore people who are seriously interested in investing on Bitcoin should be ready to witnesses the fall of it's and rise. But the price fall is nothing to worry much about so far the investor is investing for a longer period and has money to buy continously.

[Abiky]

Beyond normal Internet, we have Satellite Internet like Starlink and beyond Starlink, we have other things like [Total privacy Bitcoin]: off grid Transactions LoRaWan/goTenna

Yes. I'm well aware of that. The thing is, governments can censor the Internet whenever they want to. You could say, VPNs and Tor bypasses such censorship. But what if they prevent people from using these protocols? Then running a node to support the Bitcoin blockchain, or simply sending/receiving BTC across the Internet becomes a difficult task to achieve. And don't let me get started on lack of electricity. Without it, Bitcoin won't work.

It's why physical assets are (and will always be) "King" during emergencies or times of censorship. I'm yet to see if "physical Bitcoins" (paper wallets, metal wallets, or coins holding the private key/seed) will work. The problem would be settling transactions on-chain to finalize them. I'm sure developers will figure out a workaround. Right?

If more and more countries add Bitcoin to their national treasuries, Bitcoin will become stronger and grow up to be more like "The end game" like Michael Saylor said recent months. It is a very bullish scenario with many assumptions but like you, I don't think it is impossible.

Expect more governments appear here https://bitcointreasuries.net/ and will hold their bitcoins as national treasury, not seize from criminals and dump it on the market.

Governments had their own Gold reserves in the past. To have their own BTC reserves is nothing. Especially if many consider Bitcoin to be Gold's sucessor. I sure hope every country in the world adopts BTC. I'd bet early adopters like me, will become filthy rich by the time this happens. Just keep "hodling" no matter what.

Thanks for the link, btw. It'll be of great use to me.

[Zigabel]

I heard that the reward is halved every 4 years after each halving, so the reward miners will receive will always approach zero. To maintain the Bitcoin network, the price of Bitcoin must keep rising infinitely, which is impossible. Could there be a point where the value of the Bitcoin miners receive is almost zero, and the Bitcoin network collapses due to a lack of miners?

Is it possible that Bitcoin could increase its total supply in the future? But that would certainly cause Bitcoin’s price to drop significantly.

Could Bitcoin switch to PoS like Ethereum? That would also cause Bitcoin’s price to fall.

I don’t know if my understanding is correct

The supply isn't going to be increased to the point it will loose its value, instead of all of it is finally mined completely, then there's going to be a limitation of supply as it's been reduced after every halving, at that point value is even going to be higher as there will be limited supply in the market, only when the supply is above demand value drops but in the reverse value does increases.

[taufik123]

The supply isn't going to be increased to the point it will loose its value, instead of all of it is finally mined completely, then there's going to be a limitation of supply as it's been reduced after every halving, at that point value is even going to be higher as there will be limited supply in the market, only when the supply is above demand value drops but in the reverse value does increases.

To be able to mine everything still takes a long time, Bitcoin will be completed in the mine in 2140 or about 118 years from now.
Of course, we will not be in that year and only our generation can know it.

Right now, the circulating supply is still 19.77 Million BTC, there is still 1.23 Million BTC left.
If they are worried about the future of Bitcoin, they have not understood how Bitcoin has grown to date.


Some of the circulating BTC supply will also not move at all, assuming that the wallet with BTC does not move due to the loss of the seed key or the wallet left by the owner due to death and so on, it will be BTC that does not move so that the actual circulating supply is less than 21 million BTC, Of course this will make Bitcoin even rarer in the future.

[FortuneFollower]

The supply isn't going to be increased to the point it will loose its value, instead of all of it is finally mined completely, then there's going to be a limitation of supply as it's been reduced after every halving, at that point value is even going to be higher as there will be limited supply in the market, only when the supply is above demand value drops but in the reverse value does increases.

To be able to mine everything still takes a long time, Bitcoin will be completed in the mine in 2140 or about 118 years from now.
Of course, we will not be in that year and only our generation can know it.

Right now, the circulating supply is still 19.77 Million BTC, there is still 1.23 Million BTC left.
If they are worried about the future of Bitcoin, they have not understood how Bitcoin has grown to date.


Some of the circulating BTC supply will also not move at all, assuming that the wallet with BTC does not move due to the loss of the seed key or the wallet left by the owner due to death and so on, it will be BTC that does not move so that the actual circulating supply is less than 21 million BTC, Of course this will make Bitcoin even rarer in the future.

With how halving works, we will never see the mining reward be zero, however, it may be more beneficial just to get the fees for it rather than the reward for the block
But, as you said, not in our generation we would be worried about how it would be.

[Belarge]

Well, your understanding is not correct, non of the things you mentioned is possible with bitcoin aside from that a time will come in the future when it will no longer be possible to mine bitcoin, because all 21 million bitcoins have been mined and it all have entered into circulation

Bitcoin have been in existence over the decades, the patient holders of bitcoin are self made whales in the space, this category knows specifically how to handle the system and turning things to their favour. We have an understanding when it comes to Bitcoin, we also have different opinions and knowing the special forces to trigger for the purpose to stand top. We have all crave for exactly big winnings in the system, just have to get good use of these projects, and knowing our approach towards the system. Bitcoin future is in safe hands, it means good news for everyone of us that have been patient all these years on this particular project, forever stuck in huge profits. We dont rush to the market, we allow the market to come to us because winning becomes straight and easy for us.

[YUriy1991]

Is it possible that Bitcoin could increase its total supply in the future? But that would certainly cause Bitcoin’s price to drop significantly.

Could Bitcoin switch to PoS like Ethereum? That would also cause Bitcoin’s price to fall.

There is no need to worry about the future of Bitcoin and Don't be discouraged by the issue even though PoS is considered more energy efficient, everything has been neatly structured by Satoshi, there is no reduction or increase in the supply anymore and only 21 million Bitcoins.

[bangjoe]

Is it possible that Bitcoin could increase its total supply in the future? But that would certainly cause Bitcoin’s price to drop significantly.

Could Bitcoin switch to PoS like Ethereum? That would also cause Bitcoin’s price to fall.

There is no need to worry about the future of Bitcoin and Don't be discouraged by the issue even though PoS is considered more energy efficient, everything has been neatly structured by Satoshi, there is no reduction or increase in the supply anymore and only 21 million Bitcoins.

We will not know what bitcoin will be like in the future, which is certain that he is and also does not need to be worried at all because bitcoin is believed to always increase in price in each cycle it is a very strong belief in our hearts, especially miners, bitcoin will always increase along with fiat money that continues to be printed by the government.
Will not move to PoS it is too much risk and may experience a crash if done like that, I think he is still new and does not know Bitcoin has an amount that cannot be added anymore.