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

[arthurminton]

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?

look my friend 50 years is a very very long short that non of us know about and most of use would be in our seventies and we might laugh at the stuff we are doing right now, so it a rubbish question but still answering your questions

there is a possibility that bitcoin code cannot be decoded even after 50 very long years because bitcoin might not be the same bitcoin which it is today.

entering into a new crypto-currency with a lot of wealth is a huge risk and very less sign of reward, as a lot of new crypto-currencies are crashing with increase in bitcoin value. bitcoin is a commodity that is controlled by the emotions of people and giving some authority any kind of control would do injustice to others.

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[The Sceptical Chymist]

I'll be dead in 50 years, so the timeframe I'm interested in is much shorter and it's impossible to predict anything that far out when it comes to Bitcoin. I take it a day at a time.

[BTCBinary]

it all seems pretty shaddy at this point. Bitcoin could still fail, or governements around the world could bann it. But if bitcoin is still alive 50 years from now it will surelly be the most used currency in the world.

[rustynailer]

it all seems pretty shaddy at this point. Bitcoin could still fail, or governements around the world could bann it. But if bitcoin is still alive 50 years from now it will surelly be the most used currency in the world.

That's the way I see it, if bitcoin is still going in 50 years time then very few people will be able to afford one whole bitcoin. 

[stromma44]

it all seems pretty shaddy at this point. Bitcoin could still fail, or governements around the world could bann it. But if bitcoin is still alive 50 years from now it will surelly be the most used currency in the world.

Yeah you cant judge where bitcoin would be in next 50 years either it would be on mainstream or just disappeared and that totally depends on the adoption level but even if the adoption level reaches to a next level bitcoin can never become a global currency it will survive but cannot replace any major currency in future.

[Dux2K]

I would say it will be global currency

[phreaky]

Global? Let's hope it will get mainstream fast enough.

Then we will see how the markets and most important investors will react.
Will they embrace bitcoin or ignore it..

[Supercrypt]

I would say it will be global currency

Yes, there are lot of chances to be global currency. But I find 50 years too far to predict now itself. But we can believe the last 5 years performance will be repeated with mass user base. So, there are no chanced for becoming rubbish.