Bitcoin in the next decade

[Alphakilo]

Okay you can take it as a pessimistic POV but ever since the interest by government and institutions I feel we are losing on decentralization and privacy.
Don't get me wrong, I love to see Bitcoin price rising and adoptions but it's like the reason is rising is flawed. People joining for sometime now are only in it for the potential price increase and care nothing about a decentralized system.

You are right on point.

Government and institutions' interest in bitcoin means privacy out the window. Regulation will be introduced. No kidding the institutions are the governments and the governments are the institutions. And they influence one another in this case. And they are that powerful to do it.

Look at the news about Thailand government and its tax free thingy with bitcoin purchase from designated exchanges. And we know that those exchanges will demand for their customers to do KYC. Governemnt.

I think that in the next decade if the government wants to agree to bitcoin fully, they are going to incentivice it so that peoople who agree to use it based on their terms will have some good peaks but their privacy will be gone while the reverse will be the case for the people who are opposed to it. They will pay dearly for it.

[Fivestar4everMVP]

I know we survived without government support and can survive without it but What are your thoughts on the direction we heading?

The direction we are heading is the direction of full adoption, it's hightime we realized that Bitcoin can't really gain full adoption without sacrificing something, in place, there is this very common proverbs which if translated to English simply means that there is always something that must be cut off from a minute before it becomes consumable, some might say eatable.

I have said this over time that Bitcoin can't gain full adoption without the government stepping in to accept and adopt it first, and this has began to happen in our very eyes.

To me though, I do not believe that by the government coming in to bitcoin totally kills privacy, no, no, I still believe it's a choice we can make for ourselves respectively speaking, the government may want control but we have to be rest assured that the Bitcoin network can't be manipulated by any Dev, except the government decide to create their own crypto asset.

[Iranus]

Everyone coming in now is most likely coming for the profit aspect of Bitcoin. The institutional investors who are actively buying governments that are creating reserves for it and creating mining opportunities are all doing that not because they want privacy or because they want to support the network but because they want to gain whatever they can with the money they are investing in it as it gains more popularity and price increases, so the possible profit they expect will increase.

Not only institutions, governments and investors, but also us. If we are honest with each other, we are just like them, what we care about when it comes to bitcoin is just profit, nothing more. Not many people truly care about bitcoin's decentralized network and privacy as much as they claim to.

I bet that if the bitcoin price suddenly stabilizes, no longer offering 5x or 10x returns, people will leave it and find another solution immediately. This is the truth, it's just that many people don't dare to admit it.

[Smartprofit]

In my opinion, many people will not give up Bitcoin even if its price stabilizes. There are countries in the world with very high inflation.

For citizens of such countries, owning Bitcoin means hedging the risk of depreciation of the national currency (and they do not care that the price of the first cryptocurrency in US dollars has remained unchanged). Bitcoin is also very convenient for transnational payments. By paying a small commission to miners, people get the opportunity to move huge amounts of money across borders. At the same time, they do not depend on the decisions of the management of commercial banks. In the Bitcoin blockchain (unlike the modern financial system), there is no censorship of financial transactions.

Currently, the geopolitical situation in the world is very complex. At any moment, a person may be forced to hastily leave his country and go abroad. With Bitcoin, this is easier than with fiat money or real estate.

[Swordsoffreedom]

In my opinion, many people will not give up Bitcoin even if its price stabilizes. There are countries in the world with very high inflation.

There will be a lot of people leaving but also a lot of people coming to bitcoin if the price of bitcoin stabilizes and no longer brings big profits.

Those who are investing in bitcoin for the sole purpose of making a profit will have no reason to continue investing when it no longer meets their needs. But at the same time, people who need to protect the value of their assets, they need a safe haven, a place to store value, they will turn to bitcoin.

Like gold, many bitcoin investors look down on it because they believe that investing in it does not yield big returns and will not make them rich. But as we all see, the demand for gold remains very high and has even increased in recent years as geopolitical uncertainty has increased. Demand for gold has never decreased as many bitcoin investors mistakenly believe.
Similarly , once bitcoin becomes stable, it may no longer be a potential investment but  a safe haven and even outperform gold. The need for it at that time will be even greater than it is now .

[Abiky]

In my opinion, many people will not give up Bitcoin even if its price stabilizes. There are countries in the world with very high inflation.

For citizens of such countries, owning Bitcoin means hedging the risk of depreciation of the national currency (and they do not care that the price of the first cryptocurrency in US dollars has remained unchanged). Bitcoin is also very convenient for transnational payments. By paying a small commission to miners, people get the opportunity to move huge amounts of money across borders. At the same time, they do not depend on the decisions of the management of commercial banks. In the Bitcoin blockchain (unlike the modern financial system), there is no censorship of financial transactions.

Currently, the geopolitical situation in the world is very complex. At any moment, a person may be forced to hastily leave his country and go abroad. With Bitcoin, this is easier than with fiat money or real estate.

Yes. Bitcoin does wonders for people living in third-world countries. When inflation strikes, BTC will be there to save the day. It's often better than Gold, in the sense that supply is predictable and the coin itself is portable. A lot can happen within 10 years from now. Most likely, BTC will have higher market prices and improved scalability.

My biggest concern would be reduced decentralization due to institutional firms amassing a large portion of the circulating supply. Maybe nodes and miners won't defect to "Wall Street" in the long run? One can only hope. If you're smart, you'd continue to buy BTC regardless of current market prices. Then, you'll be able to make huge profits within a decade. Otherwise, have fun staying poor. Just my two sats.

[Sticky Bomb]

Bitcoin "with privacy" is a tool against authoritarianism. Bitcoin "without privacy" is not. If a Bitcoin "without privacy" is at $1,000,000 but you get your BTC confiscated because you posted something on the web against the government, are you more happy with that than with a privacy-supporting Bitcoin at 100,000$?

I would go for bitcoin at $100,000 with privacy. What is the need that you have money when you are not even assured of ownership to it the next minute, worse still you live a prisoner for the sake of riches. I rather the privacy is preserved. Bitcoin would continue to thrive, it can be slower but it would definitely happen. Without privacy, bitcoin is just as worthless as fiat and it would not continue to thrive because investors would loose confidence and pull their funds out of it.

Bitcoin is meant to be traders but people are seeing it from the other aspect of investing. The keep holding their Bitcoin just to make money from the market when the price goes bullish.

Have you just forgotten that bitcoin is a store of value and a hedge against inflation. I understand that the action of traders contributes a lot to the network, but it is still right that we don't forget that those holding are still buyers and as long as people are holding, then people are definitely buying and that contributes to the network as well as the price appreciation too.

They could also use this pattern to control the price of Bitcoin to their own favour. This is not going to be a predictable market anymore by the time most of these whales have the tendency to shake the market through the numbers of Bitcoin they have.

Now this is where decentralization comes to the rescue. All whales aren't from the same place and don't have same interest at the same time, so there is no way all of them would shake the market in one direction. As some whales may be selling, others may still be buying too and the market would still have a kind of a balance and cannot be manipulated by one set of people. Beside privacy, decentralization is still a major tool that sustains Bitcoin and also twice effective is the POW that it uses and not the manipulative POS

[TheUltraElite]

A decade back in 2015 the price was below 1k USD and that time nobdoy was much interested in bitcoin and people wete mostly getting into shitcoins and ICOs which came  out to be loss making in the long term.

There are some coins that made good returns but bitcoin prevailed over the long game.

This itself makes it a confirming fact that bitcoin is the asset to keep money in the long term.

I do believe that in the next deacde this will become even better in terms of price.

[irhact]

A decade back in 2015 the price was below 1k USD and that time nobdoy was much interested in bitcoin and people wete mostly getting into shitcoins and ICOs which came  out to be loss making in the long term.

This is a mistake that the current investors in the market are still going to make because they'll be believing that they can make more profit investing in altcoins from ICO and other means. Why this can give them short term profits, they're not going to make money when they continue to leave the money in the projects. This happens because altcoins don't have a long life span, Bitcoin does have one and it'll continue having because it's the most valuable and trustworthy project that has been created. Bitcoin is going to be bigger than it's in the next decade just as it has become bigger than it was 10 years in the past. The adoption of Bitcoin is also going to improve overtime too.

[Minor Miner]

A decade back in 2015 the price was below 1k USD and that time nobdoy was much interested in bitcoin and people wete mostly getting into shitcoins and ICOs which came  out to be loss making in the long term.

This is a mistake that the current investors in the market are still going to make because they'll be believing that they can make more profit investing in altcoins from ICO and other means. Why this can give them short term profits, they're not going to make money when they continue to leave the money in the projects. This happens because altcoins don't have a long life span, Bitcoin does have one and it'll continue having because it's the most valuable and trustworthy project that has been created. Bitcoin is going to be bigger than it's in the next decade just as it has become bigger than it was 10 years in the past. The adoption of Bitcoin is also going to improve overtime too.

Agreed that many altcoins have very short lifespans, they are born to bump&dump and then disappear. It can be said that investing in altcoins is very risky and is more like gambling than investing. But we should not deny the fact that many altcoins have also existed for many years alongside bitcoin, they are also growing and contributing to the world's financial system today.

In terms of returns, ETH, BNB or Sol...may be showing weakness in this cycle but their prices have also increased thousands of times and brought huge profits to many investors in previous cycles, and they are still trying and growing every day, they are not going anywhere.

It took BTC 16 years to get ETF approval, while ETH took less time to get ETF approval or Sol, AVAX or LINK...will be the next names to get ETF approval. It's not by accident that they were chosen and I don't think the SEC or the government would choose and legalize something that is useless or scam.

[Trout Mask]

I foresee Bitcoin being in a very, very good place in 2035.

[Pablo-wood]

A decade back in 2015 the price was below 1k USD and that time nobdoy was much interested in bitcoin and people wete mostly getting into shitcoins and ICOs which came  out to be loss making in the long term.

This is a mistake that the current investors in the market are still going to make because they'll be believing that they can make more profit investing in altcoins from ICO and other means. Why this can give them short term profits, they're not going to make money when they continue to leave the money in the projects.

But the truth is people will still make lots of profit investing in altcoins but their risk is over 100 times that of bitcoin. If the shitcoin exhausts its pump limit and the investors are not smart enough to take withdraw their money and the profit they end up victims of pump and dump project. Short term profits can be luring but we all know human's greed has always been the problem with short term investments.

This happens because altcoins don't have a long life span, Bitcoin does have one and it'll continue having because it's the most valuable and trustworthy project that has been created. Bitcoin is going to be bigger than it's in the next decade just as it has become bigger than it was 10 years in the past. The adoption of Bitcoin is also going to improve overtime too.

Bitcoin has a proven record, 16 years of successful global impact and high ROI, also measurable incentives for miners. In the next decade bitcoin will be more scare than it is now, it might only be a treasure for the elites who took the advantage now. Obviously we will have even wider adoption but they will be government regulations.

[dderekwalcott]

It would be appreciated if your views are given without being influenced by others considered reputable
I want to understand what people individually feel about this. Thank you.

Okay you can take it as a pessimistic POV but ever since the interest by government and institutions I feel we are losing on decentralization and privacy.
Don't get me wrong, I love to see Bitcoin price rising and adoptions but it's like the reason is rising is flawed. People joining for sometime now are only in it for the potential price increase and care nothing about a decentralized system.

It's subtle but it's happening, checked X during the exch shutdown and I saw many branding people that push for privacy as scammers. They were the majority.

We thought with all this news and mainstream many could learn about Bitcoin but no they barely know a thing.
We are compromising and giving excuse that it wouldn't get worse like the rise of KYC compliant exchanges or ETF approvals. But compromise is the first step before full acceptance.

Humans are political animals as they say, as long as there are group of people there must be politics. I'm sure this isn't different in the developers community.

Would government fold their hands and not try to make devs push a protocol that would favour them? I doubt, I understand we have miners and full nodes for checks and the open source process and peer review make covert protocol changes difficult. But we can't deny that Dev still have some influence (I used them as example since they are smaller in numbers).


I know we survived without government support and can survive without it but What are your thoughts on the direction we heading?

Let me start by answering your last question, I'm not saying this to disappoint anyone - I think the way it's going is really questionable how much privacy it will have in the future and the reason for that is the attempt of some whales to make more profit. The purpose for which Satoshi created Bitcoin and the current situation are almost the opposite. The real purpose of using Bitcoin is to protect your privacy and use it independently without anyone's interference. But KYC, ETF, big exchanges, AML rules are slowly going against the core philosophy of Bitcoin. I didn't actually tell anyone what it was for, I just wrote what came to my mind. Another thing, although I don't understand the technical aspects very well but as far as I understand that Bitcoin is open source - many people get worried when they hear this, but the reality is that very few developers actually write code. When political or financial pressure comes on one of them, such update proposals can come that, although they are carried out as "technical improvements", can destroy the principles of Bitcoin inside. We all know there is a full node or peer review, but how many ordinary users actually understand the update ? Most of them accept it blindly. So don't be fooled by the mere mention of "open source"—if we're not careful, one day we'll find that Bitcoin is decentralized on paper, but in reality, it's a puppet in the hands of governments and corporates.

[bmo88]

The view expressed by the original poster is an introductory view of bitcoin, which there are many new people interested in bitcoin.
As they go down the rabbit hole, they will see its true purpose.

[finaleshot2016]

A decade back in 2015 the price was below 1k USD and that time nobdoy was much interested in bitcoin and people wete mostly getting into shitcoins and ICOs which came  out to be loss making in the long term.

This is a mistake that the current investors in the market are still going to make because they'll be believing that they can make more profit investing in altcoins from ICO and other means. Why this can give them short term profits, they're not going to make money when they continue to leave the money in the projects. This happens because altcoins don't have a long life span, Bitcoin does have one and it'll continue having because it's the most valuable and trustworthy project that has been created. Bitcoin is going to be bigger than it's in the next decade just as it has become bigger than it was 10 years in the past. The adoption of Bitcoin is also going to improve overtime too.

TBF there are many ICOs back then that can make you more money than waiting for BTC growth. That’s when you need to diversify money if you already accumulating in some parts like ICOs. Of course, you shouldn’t put to some shtty ICOs, it should have plans and backed by popular names and experts in the field. If you’ve gained in some aspect then put money to BTC, repeat the cycle. The thing here is you don’t need to stick to only, you need to be flexible but prioritize risk management too.

[Makus]

Everyone coming in now is most likely coming for the profit aspect of Bitcoin. The institutional investors who are actively buying governments that are creating reserves for it and creating mining opportunities are all doing that not because they want privacy or because they want to support the network but because they want to gain whatever they can with the money they are investing in it as it gains more popularity and price increases, so the possible profit they expect will increase.

Not only institutions, governments and investors, but also us. If we are honest with each other, we are just like them, what we care about when it comes to bitcoin is just profit, nothing more. Not many people truly care about bitcoin's decentralized network and privacy as much as they claim to.

I bet that if the bitcoin price suddenly stabilizes, no longer offering 5x or 10x returns, people will leave it and find another solution immediately. This is the truth, it's just that many people don't dare to admit it.

You're correct mate, the reason most people became enthusiastic about bitcoin is because of  its past profitable returns to those who held their coins for long term. But we should also note that before bitcoin started giving these high returns there were persons who used it for just the purpose of making transactions because that's the first reason for the existence of bitcoin in the first place. If bitcoin remains stable without no much increment a lot of person would sell off to buy altcoins and that's one of the reason for the altcoins season we hear and are expecting to happen anytime soon. However I don't expect bitcoin to start up a consolidating market for a long while especially when we have tons of peoples who haven't started holding probably because of their country's restriction policy.

[AmoreJaz]

The view expressed by the original poster is an introductory view of bitcoin, which there are many new people interested in bitcoin.
As they go down the rabbit hole, they will see its true purpose.

With the technology that we have today, it is too easy to check the information what do you need to do or what do you want to know. The evolution of AI is quite stunning. There are pros and cons and so people should take advantage of what it can bring to their life. However, don't rely too much on AI as critical thinking is what we are slowly losing these days. If the generation today will rely on AI, they will think less and will just ask AI basically anything that they need. They can even easily ask AI all the homeworks that they have right now.

[Smack That Ace]

You're correct mate, the reason most people became enthusiastic about bitcoin is because of  its past profitable returns to those who held their coins for long term. But we should also note that before bitcoin started giving these high returns there were persons who used it for just the purpose of making transactions because that's the first reason for the existence of bitcoin in the first place. If bitcoin remains stable without no much increment a lot of person would sell off to buy altcoins and that's one of the reason for the altcoins season we hear and are expecting to happen anytime soon. However I don't expect bitcoin to start up a consolidating market for a long while especially when we have tons of peoples who haven't started holding probably because of their country's restriction policy.

We need to admit that we became enthusiastic about bitcoin and ready to defend bitcoin in any situation regardless of right or wrong. All for one purpose only, we protect our profits and all for profit. Not many people care about decentralization or privacy, if we really cared about that we wouldn't use centralized exchanges, expect the government to legitimize it and hold it to increase its value...

Indeed, I also believe that once bitcoin becomes as stable as gold, people will sell it and invest in altcoins or alternatives, they will no longer be attached to bitcoin. But that probably won't happen anytime soon as bitcoin adoption is still in its early stages.

[Outhue]

It would be appreciated if your views are given without being influenced by others considered reputable
I want to understand what people individually feel about this. Thank you.

Okay you can take it as a pessimistic POV but ever since the interest by government and institutions I feel we are losing on decentralization and privacy.
Don't get me wrong, I love to see Bitcoin price rising and adoptions but it's like the reason is rising is flawed. People joining for sometime now are only in it for the potential price increase and care nothing about a decentralized system.

Let's go back in time, before institutions got here, it has always be the same, ma y investors are here to make money from Bitcoin, that's why people easily let go of their bags, many got here very early but they don't see any reason to keep holding Bitcoin.

I am one of the few people that cares about decentralised system of Bitcoin, I had a problem with my bank years ago and reading about the capability of Bitcoin makes me deep dive into what Bitcoin really is and I saw it as a solution to my problem at the time.

The Decentralised will stay the same, if it was a problem the first president would have make the Dec change one or two things, let's pretend that Monero is the Bitcoin today, before a president can say he supports Monero the untraceble part must be demolished first, why?

Trump for example will face problem from the opposing party that he is surpoorting criminals, that he is likely to move funds himself for his regime and campaigns and nobody will know.

What makes Bitcoin different is that everybody knows how much the president worth on the blockchain, transactions and addresses are traceable.

[Churchillvv]

I do believe that in the next decade this will become even better in terms of price.

Look beyond the price of bitcoin and how much it has done from the past and look into what the true purpose of bitcoin is and how it's becoming with the involvement of governments and other institutions, it's that what bitcoin is about?

It's becoming a primary tool for governments to use in fulfilment of their agendas, the decentralised nature is lossing shape, privacy is attached in real time. look at the tornado cash foundation jailed for providing a extremely privacy tool that assist bitcoin network system of hiding your transaction and the  this same institutions or government are wanting to make it a reserve for themselves while destroying the core tenants of bitcoin.

Bitcoin in the next decade is now a serious concern as it could loss it's core shape totally not the price but it's decentralised system, your transactions can be censored in the next few years it's a serious concern.