Do You Think Bitcoin Will Still Be Relevant in 2035?

[Iranus]

I don't think but I'm 100% sure that Bitcoin and other cryptocurrencies will be even more relevant in 2035 and beyond that.

Tbh, we can't even tell where our own future is headed in the next 10 years. So I don't get what you're basing it on to be 100% sure BTC and crypto will be even more relevant by 2035. We're free to be bullish on BTC's longterm potential, but bullish doesn't mean it's a sure thing. A lot can change over nearly a decade.

The pace of technological progress is getting downright scary. As the member above you pointed out, advances that would've taken decades are now happening in a matter of months.

[yhiaali3]

"A blow that doesn't kill you makes you stronger." This idiom indicates that after withstanding a strong blow, you are stronger and better equipped to endure shocks, and face and overcome obstacles because you are capable of enduring a powerful blow and moving beyond it.

I also like to compare this idiom to the blows received by the Crypto and Bitcoin sector. Personally, I think that these blows might actually strengthen Crypto and Bitcoin as they help uncover and close vulnerabilities and gaps in the system thus improving and strengthening the overall system and process.

[Rhow]

You have combined the issue of exchange hacks and Bitcoin's own security. Many users on this forum advise us to keep our long-term planned assets, Bitcoin, in self-custody rather than keeping them on any exchange. Because exchanges can get hacked at any time. Binance was hacked recently. Even before that, various exchanges were hacked many times. I am talking about last year's incident, when Bybit was hacked where $1.5 billion of crypto was stolen. These problems are in the wallet security of the exchange. The original Blockchain of Bitcoin was not hacked. When you keep your Bitcoin on an exchange, you are actually relying on the security of that institution. But if you use your own wallet, it is possible to keep control of Bitcoin in your own hands. Even if you use your own wallet, the problem will definitely not end if you lose your private key. Therefore, people's trust in Bitcoin will depend on how safely we can use it.

[SatsPH]

It makes me wonder, What will the crypto space look like in the next nine years?

Will people still have the same confidence in cryptocurrency, or will these security challenges gradually push people away?
I know no financial system is completely free from risk, but I believe trust and security are very important for any financial system to survive.

Well you can go back 10 years, like in 2016 wherein there has been a lot of members here already and trying to figure what Bitcoin is. And fast moving 10 years, majority as still there being Legendary members obviously and they might have the same question.

But now, Bitcoin still survives, although there has been a lot of changes and regulations. But the core remain, every 4 years there is block halving and then we have new all time high. So that will still remain the same in 2035 or whatever in the next halvings.

[Kelward]

I understand the concern of OP because even if we trust the security of the network of Bitcoin we have to understand that it is not a physical cash or asset, we cannot hold Bitcoin physically that is why we have to rely on wallets and exchanges to access our coins. If there are concerns about these devices and platforms it should be a concern for us. With the rate of direct hacks and third party breaches on wallet and exchanges we can worry that if it continues it will affect the safety of our Bitcoin in the future, hackers are utilizing AI to bypass securities to steal cryptocurrencies.

I believe that Bitcoin will still be relevant in 2035 if wallet and exchange security concerns are taking care of but if these hacks and security threats are not taking care of that is what I'm worried about, if we are constantly afraid of the safety of our Bitcoin it can seriously affect it's interest and adoption which can affect it's relevance.

[Alonso_]

People have been asking this same questions ever since bitcoin was launched, I believe there are people who was asking the same question from 2011, when it started making waves in the market, but look bitcoin is still here with us, the fact that we are seeing different exchanges getting hacked doesn’t mean bitcoin and cryptocurrency is going to disappear, for your information bitcoin wasn’t hacked it was an exchange that was hacked, so I don’t really see how that becomes a problem for bitcoin, however I still understand your worries because it has to do with money, and people would always panic when such things happens were they’re storing on investing their money, but i personally trust the security of bitcoin, mentioning from 2026-2035 that is equivalent to 2 circle I can personally channel that energy to buying more bitcoin in that time duration.

[Hewlet]

Will people still have the same confidence in cryptocurrency, or will these security challenges gradually push people away?
I know no financial system is completely free from risk, but I believe trust and security are very important for any financial system to survive.

As much as there are still a lot of uncertainty in the future especially in the bitcoin ecosystem, the rising case of hacked system is not just going to stand as a challenge to bitcoin but will also affect every other system in the digital space. as per the relevance of bitcoin in 2035, with more people still joining the ecosystem, there are higher chance that bitcoin will be more relevance than there are are that it will be badly affected by whatever is coming against it in years to come.

Most of the current investors that are hoping to hold their asset for ten years and counting if they remain consistent will continue to hold their asset even till then. the decentralized nature of bitcoin coupled with the fact that bitcoin enthusiast are toughly invested in it will give us a future where bitcoin is very much a part of it.

[Sammye3]

Bitcoin's relevance is already established, and even more when the price hits above $300k in 2035. During the creation of bitcoin, many people believed that it was not going to last but probably die off along the way, but the narrative is different today as it's recognized as the no. 1 digital asset with the most adoption.

If bitcoin could survive the test of time during its creation, what makes you think that it would lose it's relevance by 2035, especially after achieving this great feat and creating a new ATH last year. The security issues surrounding exchanges do not have a significant impact on bitcoin, you can trace that to the recent $6.3B hacked Binance situation and be convinced that bitcoin is here to stay.

[vs2014]

Nobody can't predict the future of bitcoin with certainty but I believe bitcoin will have remained same position over the next years. However it affects on public trust while any exchanges get hacked but i believe security will also upgrade over time. Moreover bitcoin will become more widely accept for payment and international transactions. Bitcoin faced many ups and downs but people keep supporting it. Hope people will keep supporting it nd bitcoin will play significant role in global financial system along with more real world uses

[Awaklara]

It makes me wonder, What will the crypto space look like in the next nine years?

I think people's awareness regarding decentralization will be better. People's trust in Bitcoin will certainly become stronger, and adoption could possibly become more widespread. Of course, no one really knows what will happen in the future. But seeing how Bitcoin continues to grow and gain attention from institutions, we cannot ignore that people are starting to see Bitcoin positively in the future. Regardless of whether it remains an asset for hedging, or whether the use of Bitcoin will become increasingly widespread.

[Eldestyoung]

It makes me wonder, What will the crypto space look like in the next nine years?

Nine years is not a lot of time if you look at it; it just sounds really long, but nine years can go by without you even noticing it. Personally I think Bitcoin would have gained more maturity; that is, many of these present events, like the rampant hacks, will be less occurring, and other future events will just make Bitcoin better. Bitcoin would have gained more acceptance.

By 2035, my prediction is the discussion will no longer be so much about acceptance; the major discussion then will be adoption.

I see your point and I agree that nine years can bring significant changes in the crypto space. Technology keeps evolving, and hopefully, security will improve as the industry matures.

But I also think adoption will depend heavily on how much trust people have in the system. It’s one thing for people to know about Bitcoin and another for them to feel confident enough to use it without constantly worrying about hacks, scams or losing their funds.
I guess the real question is whether the industry can build that level of trust before 2035. Because without trust, wider adoption might be more difficult than we expect.

[GreatArkansas]

I know no financial system is completely free from risk, but I believe trust and security are very important for any financial system to survive.

Sure, but I would divide it in two, exchange security and Bitcoin’s own security. The Binance hack was reportedly mostly about people, and exchange security in general is a mix of people and technical weaknesses. Bitcoin's security is all about incentives. Fees are still less than 1% of miner incomes this year, and the subsidy will be 0.78125 BTC per block after the 2032 halving, which works out to about 112 BTC a day. So the fees need to increase or price needs to offset the halving, for that security to hold up by 2035.

People will also realize that self-custody is the best way to securely store Bitcoin.

Self-custody is a helpful but not a foolproof solution. The weak link remains the human, just one person at a time instead of one company.

Exchange hacks are just becoming common these days because of help of these AI, but Bitcoin relevance in 2035 depends more if fees or price can still pay for network security after the halvings. All of what happenings right now are like wake up calls, especially yes, because of AI, some vulnerabilities are poping out, that's why, this is the best time to build, and fix everything. We are still early.

[SilverCryptoBullet]

Exchange hacks are just becoming common these days because of help of these AI, but Bitcoin relevance in 2035 depends more if fees or price can still pay for network security after the halvings. All of what happenings right now are like wake up calls, especially yes, because of AI, some vulnerabilities are poping out, that's why, this is the best time to build, and fix everything. We are still early.

It's more common with AIs but centralized exchanges are well known as not safe for storing fund there. Not only about hacks but also about potential issues with accounts and funds. No private key, no coin controlled by centralized exchange users, and there are reminders about that together with hack risk.

Bitcoin Q&A: Not your Keys, Not your Coins.
Reminder: do not keep your money in online accounts.
Events made you scare about custodial wallets, centralized exchanges.

With AIs, there are more scary threats and attacks on hardware wallets which in many years were considered as best wallets for long term fund storage.

[terrific]

I see your point and I agree that nine years can bring significant changes in the crypto space. Technology keeps evolving, and hopefully, security will improve as the industry matures.

But I also think adoption will depend heavily on how much trust people have in the system. It’s one thing for people to know about Bitcoin and another for them to feel confident enough to use it without constantly worrying about hacks, scams or losing their funds.
I guess the real question is whether the industry can build that level of trust before 2035. Because without trust, wider adoption might be more difficult than we expect.

With all of the years that bitcoin has been there, I think that there's enough basis for it to still be reliable and trusted by all of us before 2035.
We've seen a lot of headlines about FUD, the quantum computers, AI and all other technologies that's said to decrypt and are a threat to bitcoin's blockchain.
I don't want to be confident about it but, if it's able to surpass and overcome the past challenges and threat that's been said to destroy it.
I think that it will also do the same until that year comes and will continue to become relevant and mature enough to be considered as one of the greatest asset in the world and history.

[LogitechMouse]

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It makes me wonder, What will the crypto space look like in the next nine years?

Will people still have the same confidence in cryptocurrency, or will these security challenges gradually push people away?
I know no financial system is completely free from risk, but I believe trust and security are very important for any financial system to survive.

In 9 years, we might see Bitcoin at a much higher price than where it is right now, or it's gone already.

The term "gone" might be a bit harsh, but what I mean is that it might've been completely forgotten by whatever reason it could be. Probably investors see a better opportunity and put their money on a coin that's basically better than Bitcoin? Probably investors wanted to transfer their money and put it on a much safer asset like the Stock Market maybe? Whatever it is, we don't know what will happen in the next 9 years. There's also a chance that the adoption will go up even more, and the confidence around it still rise despite of the hacks, breaches, scams and everything that happens around the crypto space.

In terms of trust and security, I'm leaning towards the fact that it's not fault of Bitcoin that we're seeing hacks and breaches, but it's the fault of the exchange by having a very weak security that could easily been breached. Bitcoin itself is very, very hard to hack while exchanges, and companies who are holding it can be, and I also believe this is the reason why the confidence around Bitcoin and crypto space is still increasing.

[Renampun]

It makes me wonder, What will the crypto space look like in the next nine years?

9 years is not a long time, but it is not short either. However, in that time, I am sure that the crypto market will become much better and continue to grow even further.. Despite the possible hacking cases, and other negative things that happen, these are all part of how the market evolves.. It's not something that will make more people discouraged and make the crypto market crash, but instead, it will push the industry to become more mature and make more people more aware of the importance of securing their assets, such as multisig, using passphrases, and so on.