Bitcoin value in the next future 50 years- rubbish or global currency?

[sekaiissobig]

Hi, all.
I am not fully understand on bitcoin mechanism.
I would like to ask the advantages and disadvantages of bitcoin,
as far as I know, the most advantages for it is the reduction of transcation cost.
but with the recent development of technology, I'm skeptic on it.

1. The code for bitcoin can't be edited, right?
Is it possible to decode bitcoin on the next future 50 years?


2. With the increase in the price of bitcoin, there are many new crpto-currency in the markets,
This bring to a new questions, since there are not authrity that can controlled crpto-currency,
those new crypto-currency will eventually create chaos in the market.
Especially in order to create wealth, those who have lots of money can suddenly enter the new crypto-currency,
due to a high demand and new crypto-currency will be more valued.
How bitcoin increase its value in a month in 2009.
And those wealth people are going to be more richer than before.
Do you agree that authority should be given to certain parties to control the flow of crypto-currency?

[hashman]

Do you agree that authority should be given to certain parties to control the flow of crypto-currency?

I nominate you. 

[saafon]

rubbish or global currency? 

this you will be known only after 50 years

[Tentups]

50 future laters mate ?
i think no one can predict this, this is very long long way to go
maybe btc didnt exist anymore in next 50 years

[shirkan]

50 Years is a long time

Imho bitcoin is a gamble with inceasing odds over time 

If it succeeds it will be huge.. probably utilized in ways no one dares to think about, yet.

I believe that bitcoin is the missing protocol (transfer of value) and a majority of all value transferred over the internet will be transferred through the bitcoin network.

"Internet of Things" and automation will unravel bitcoins potential. Besides, the current financial system is doomed anyway.

[BitCoinNutJob]

50 years is a crazy long time, im not even sure the internet will exist anything like it looks like now by then so cant say about bitcoin.  50 years could be long enough for us to be a cashless society also - even though that would be pretty quick evolution.

[Q7]

I wouldn't dare to predict what would happen in next 50 years. High chances I wouldn't be around by then to even see whether prediction will become a reality or otherwise. Fact is bitcoin is so dynamic... it's crazy to even think what are the changes in just a 10 years time span. On your questions, yeah the codes can be edited, it's open source anyway but the community has to agree to adopt it for the changes to be effective. And no, no way, I would like to see central authority.

[B.A.S.]

rubbish or global currency?  

I'd guess neither. It will be utilized on the national level of various countries. Unification of currencies to one of global use offers no true benefits to any country.

[BillyBobZorton]

50 years in modern time is literal mental masturbation. Just focus on the next 10 and indicators say 100% chances the blockchain survives and about 90% btc is the coin that wins.

[Meuh6879]

15 years is a more realistic range ...
- 5 years to create
- 5 years to adopt
- 5 years to use

[SOAD]

Bitcoin has the potential to become a global currency but also the potential to fail. If the price collapsed to double digits then miners would likely be forced to shut up shop. That could spell the end for bitcoin.

15 years is a more realistic range ...
- 5 years to create
- 5 years to adopt
- 5 years to use

Bitcoin could have been and gone within five years or it could gain massive adoption. I think only time will tell but either way it's exciting to find out.

[clementinal]

i think crypo currencies is the future, but they will coexsist with fiat

[chipzac]

cryptocurrencies will be around for a long time. not sure they will be able to replace fiat.

[clementinal]

with all whats happening with the exchanges it does not seem right. there will always be something that could go wrong ..

[Whitehouse]

i think crypo currencies is the future, but they will coexsist with fiat

I think bitcoin will grow steadily over the next few years and it will have it's biggest use with industries like gambling and the remittance market, but I agree it will always be used alongside fiat. I'd really love it to become some sort of alternative worldwide currency that you can use around the world. I see that as a big benefit of it and gives the average traveler the ability to save money on fees and not have to convert their national fiat into local currency all the time.

[alh]

I expect that Bitcoin will be a niche currency in 50 years. It won't have replaced any existing large scale currencies, nor will it have evaporated.

[SunBin]

Rubbish.

If there isn't a better currency in 50 years, we will all be in trouble.

[stromma44]

Imaging future of bitcoin for next 50 years would be Stupidity. It's good to think for next 10 to 15 years as definitely it will be having great future for this particular time. And yes it should become a global currency that will reduce the costs of a person traveling to different countries.

[gentlemand]

5-10 years will be enough to tell us where things are headed. By 2021 coin inflation will be under control and all of the respectable financial instruments will be in place. If it isn't going places by then then I seriously doubt it ever will.

[mrhelpful]

Rubbish.

If there isn't a better currency in 50 years, we will all be in trouble.

I dont know about trouble, the last 50 years of america seemed to be just chugging along, so I dont see why it wouldnt for the next 50 years to come.

Things will definitely change in tech, and easier adoption, but the currency will forever go due to other international banks helping out each other.