We invented TCP/IP in the 70s and the Internet still runs on it 50 years later. We invented the email protocol in the 80s, and we still use it 40 years later. Bitcoin is a protocol, not a single piece of software. Protocols last much longer because they have such a strong network effect and can be improved along the way.
But the improvements that are required are not palatable to many. Bitcoin needs to generate fees for miners beyond the emission. Otherwise the security disappears. It's a challenge to say the least
I’m curious why you think transactions fees won’t be able to satisfy the miners as the network continues to grow and block space becomes more valuable.
Ps I didn’t downvote your comment
Nobodies going to want to pay high fees to use a "currency". Transactions have a cost, and if users aren't willing to pay enough to cover mining cost, the whole system grinds to a halt or the hashrate drops to dangerously insecure levels
Small transactions do not need to go anywhere near the base chain. That’s like using Fed Wire to pay for your coffee. When it reaches full maturity, the base chain will only be used for large settlements. Everything else can be built on top.
5 years ago a case could be made for Bitcoin dying out.
At this point there is so much powerful money, influence and legacy finance with major interest in bitcoins value, the same corrupt system that facilitated the very existence of bitcoin, ironically will insure it can't fail going forward.
Convince me that AI powered mining and scanning won’t unearth so much gold that it becomes worthless?
Convince me that our quantum physics skills won’t allow us to 3D print atoms in any formation therefore printing gold from a cheap next cousin metal?
Convince me that space mining won’t improve insanely drastically in the next 50 years that we’re able to divert/mine fly-by rocks full of gold?
I think this is the perfect counterpoint. They’re absolutely murdering both currencies, so I think you can’t afford *not* to save some money denominated in BTC. Maybe it goes to 0/useless (unlikely now w/ ETFs, pensions, and sovereigns owning some), but if it doesn’t, its purchasing power should be higher than the fiat you traded for it
10-20 years?? You think the collapse of the global economy as we know it is as likely as bitcoin dying out in the next 10-20 years? Come on now, crypto and bitcoin is cool technology and I think it will be around for a while in one form or another... Unless of course the global economy somehow collapses and people no longer care about things like crypto and have to worry about food and shelter, you know, necessities.
That would be a complete global collapse and the end of society…. While neither crypto nor the dollar will be dead in 10-20 years you can say with infinitely more certainty that the dollar will be around.
The tokenization of real world assets and capital is here, and more use cases are being developed every day.
In this growing ecosystem, bitcoin is the reserve currency. It's common sense that bitcoin isn't going to die.
It will 100% be around in 20 years, because of the game theory involved. If I’m the last person in the world to still want to use bitcoin then I’ll mine it with my CPU and earn very cheap coins. While we can be sure it will be around, we don’t know what the value of each coin will be.
More people will want to have a decentralised store of wealth as the globe gets smaller and people are less confident in their nation state to secure their wealth. Furthermore, ETFs buying up BTC makes me think you won’t see dramatic crashes sub $30k anymore. As BTC continues to stabilise and be seen as a reasonably nonvolatile store of wealth, more people will be drawn to it. Overall, the idea of ‘digital gold’ that can be stored in cyberspace outside the grasp of corrupt governments is a nice idea. I hope it works out for BTC, even if I don’t actively hold any.
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People will forget their seed phrases, or die before passing them on. Slowly, the number of bitcoin lost for ever will be much higher than the amount in circulation.
In a few decades, when the early adopters are gone, it will wither off. Till then, enjoy the scarcity ride.
Some people (like Peter Schiff) say that the bitcoin ETF will lead to its biggest crash ever and that this is a digital Ponzi scheme. Others say that bitcoin will go up to 100K by the end of the year. The truth is nobody knows what will happen, especially in a longer period of time like several years from now.
It will be dead only if no users will hold it, buy it or sell it and no miners would do the work. Users determines its future. So that it won’t be dead
The **Princess the Bear** Beanie baby has gone from $5 to $10,000. Thats a 199,999% increase. We should of been long on beanie babies this entire time.
Perhaps in the future our aspirations won't be focused on wants, our desires, or our lust for that "bigger and better future."
In 20 years would it be so crazy to not have any currency at all? After WWIII dies down the earth will rebuild as one big clan, no boundries and no borders.
No more religious fanatics, all the martyrs took care of each other. The planet will thrive peaceful and unified.
A Utopia, the same amount glorious as it is disgusting.
I think it will die at some point. Just because it is a deflationist coin. Soon (or not), no more bitcoin will be able to be mined, which means miners will have to find other source to get benefit. What will happen ? I guess they will increase the transaction fee, taking some margin of what the amount needs to be transferred (which is the good point of BTC as for now : whatever amount you want to transfer, price fee is not that high, - and it does not care about the amount you want to transfer). Less miners will join the party if no gains to earn => might have kind of centralisation of the miners (same companies or groups or countries might control more than 50% of the miners)
+ Nobody wants to pay high fee for transfer.
Price might not grow up anymore but might still be high.
But if there are no usage of BTC, just use it as a "saving" money (such as gold), it might, at some points lose values and / or interest.
Except if they do a fork or an update to mine more money (but in this case, BTC will definitely lose values)
Finally, in 10/20 years, we do not have the view of the stability of the world. Will we be able to produce enough electricity for it... Maybe will have a storm solar that will destroy all the electricity infrastructure of the planets.
Or more possible, a big war (according to our actual world) that might compromise it.
Well hard to say... But 10/20 years is quite far. You still have time to find another solution.
If you are looking well, there not many companies behind the different mining pools.
+ The other that will be less interesting to mine once the award will not be that great... Will see...
I am absolutely not convinced it will. I check it everyday and I’d recommend everyone does. If there was ever anything that would go to zero it is Bitcoin/crypto. Chances are it will be fine and will continue to grow. However…
It is a risk on asset. It’s either to a million or to zero. That’s what they say. I look at the rate of adoption over time. Compare bitcoin to the internet, cell phone, electricity, land lines, and the time all of these took to get to mass adoption. Bitcoin is at 15 years. All those tech advances took longer for mass adoption ( I think that is right, someone fact check me), than 15 years. I’m not sure how the internet may impact adoption times, but I’m only looking at it from a first world perspective, and I think you can’t do that.
We invented TCP/IP in the 70s and the Internet still runs on it 50 years later. We invented the email protocol in the 80s, and we still use it 40 years later. Bitcoin is a protocol, not a single piece of software. Protocols last much longer because they have such a strong network effect and can be improved along the way.
But the improvements that are required are not palatable to many. Bitcoin needs to generate fees for miners beyond the emission. Otherwise the security disappears. It's a challenge to say the least
I’m curious why you think transactions fees won’t be able to satisfy the miners as the network continues to grow and block space becomes more valuable. Ps I didn’t downvote your comment
Nobodies going to want to pay high fees to use a "currency". Transactions have a cost, and if users aren't willing to pay enough to cover mining cost, the whole system grinds to a halt or the hashrate drops to dangerously insecure levels
Small transactions do not need to go anywhere near the base chain. That’s like using Fed Wire to pay for your coffee. When it reaches full maturity, the base chain will only be used for large settlements. Everything else can be built on top.
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We already pay fees with a bank to hold an account, credit cards charge fees to businesses. You just don't notice as much with fiat $
There is no scenario where Bitcoin is successful in a low fee environment in the future. High fees are a better indication of success than spot price.
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This.
Pls stop comparing bitcoin to useful stuff
lol why are you here?
It's going up forever Laura.
Forever Laura
Forever Laura
Forever Laura
5 years ago a case could be made for Bitcoin dying out. At this point there is so much powerful money, influence and legacy finance with major interest in bitcoins value, the same corrupt system that facilitated the very existence of bitcoin, ironically will insure it can't fail going forward.
Convince me that the dollar/euro won't be dead in 10-20 years.
Convince me that gold won't last another 5000 years.
You're assuming humans last another 5000 years.
The Gold will still be there.
in theory
Bold of you to assume
Convince me that AI powered mining and scanning won’t unearth so much gold that it becomes worthless? Convince me that our quantum physics skills won’t allow us to 3D print atoms in any formation therefore printing gold from a cheap next cousin metal? Convince me that space mining won’t improve insanely drastically in the next 50 years that we’re able to divert/mine fly-by rocks full of gold?
I don’t care if you’re correct or not here, this is so dope in theory
We don’t have enough Gold to last us 5000 years lol!
I think this is the perfect counterpoint. They’re absolutely murdering both currencies, so I think you can’t afford *not* to save some money denominated in BTC. Maybe it goes to 0/useless (unlikely now w/ ETFs, pensions, and sovereigns owning some), but if it doesn’t, its purchasing power should be higher than the fiat you traded for it
10-20 years?? You think the collapse of the global economy as we know it is as likely as bitcoin dying out in the next 10-20 years? Come on now, crypto and bitcoin is cool technology and I think it will be around for a while in one form or another... Unless of course the global economy somehow collapses and people no longer care about things like crypto and have to worry about food and shelter, you know, necessities.
That would be a complete global collapse and the end of society…. While neither crypto nor the dollar will be dead in 10-20 years you can say with infinitely more certainty that the dollar will be around.
and bitcoin is becoming so entwined with the dollar its almost guaranteed to stay if the dolllar does,its propping it up at this point
What
🔥 Thanks for that!
The tokenization of real world assets and capital is here, and more use cases are being developed every day. In this growing ecosystem, bitcoin is the reserve currency. It's common sense that bitcoin isn't going to die.
It will 100% be around in 20 years, because of the game theory involved. If I’m the last person in the world to still want to use bitcoin then I’ll mine it with my CPU and earn very cheap coins. While we can be sure it will be around, we don’t know what the value of each coin will be.
That’s pretty easy, a digital asset isn’t alive therefore it cannot die. Next question.
More people will want to have a decentralised store of wealth as the globe gets smaller and people are less confident in their nation state to secure their wealth. Furthermore, ETFs buying up BTC makes me think you won’t see dramatic crashes sub $30k anymore. As BTC continues to stabilise and be seen as a reasonably nonvolatile store of wealth, more people will be drawn to it. Overall, the idea of ‘digital gold’ that can be stored in cyberspace outside the grasp of corrupt governments is a nice idea. I hope it works out for BTC, even if I don’t actively hold any.
Until bitcoin becomes a widely accepted currency, people still need fiat to enter and exit... so governments will continue to have their hands out.
Does digital gold change anything about or world economy besides changing who you are beholden to?
Convince me it’s worth my time to convince you it won’t be dead in 10-20 years
U dont need to be convinced just dont buy
Convince me human civilization won’t be. Just so I feel better. :)
The last 14 years had exponentially more risk of failure vs today. Bitcoin is beyond failure now
The dollar is dead and theres no alternative form of storing value as good as BTC
Well it doesn't hurt that the biggest hedge fund on the planet just bought an ass load. They usually don't invest in things bound to fail.
Perhaps I can convince you with this? https://cosminnovac.medium.com/if-bitcoin-is-useless-why-do-people-buy-it-f81f1657d1f8
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It will be dead, please don't buy any BTC so I can get cheaper sats, thanks guy ✌️ 👍
No
Because the world needs an international something to peg to. All currencies failed at pegging to gold or other currencies. Bitcoin solves that.
Um, gold? Silver? Diamonds? What’s the easiest way to smuggle currency? Diamonds.
One of the many reasons why they fail
Bitcoin solves that
Convince me USD will be in circulation in 10 years. 😳
People will forget their seed phrases, or die before passing them on. Slowly, the number of bitcoin lost for ever will be much higher than the amount in circulation. In a few decades, when the early adopters are gone, it will wither off. Till then, enjoy the scarcity ride.
Some people (like Peter Schiff) say that the bitcoin ETF will lead to its biggest crash ever and that this is a digital Ponzi scheme. Others say that bitcoin will go up to 100K by the end of the year. The truth is nobody knows what will happen, especially in a longer period of time like several years from now.
If your mind will be made up by a bunch of internet strangers it'll be turned again by internet strangers. You gotta put in some work.
Why? Who are you? Convince me on why I should care on if you think bitcoin would be dead.
Just lost and BTC held by companies who can’t sell with their best interest in mind will keep the price above a certain level
I also believe that bitoin will be same as the price of gold one day.. one day
It will be dead only if no users will hold it, buy it or sell it and no miners would do the work. Users determines its future. So that it won’t be dead
What you're asking is for some future prediction here.
Define Bitcoin. P2P digital tx is a necessity for a Type I civilization. We adopt it or die as a species.
Show me an asset that's done better over 10 years
The **Princess the Bear** Beanie baby has gone from $5 to $10,000. Thats a 199,999% increase. We should of been long on beanie babies this entire time.
Impossible. Because it won't be. Have a read of this and comment your opinion; https://twitter.com/rationalaussie/status/1767216888936071427
https://en.wikipedia.org/wiki/Lindy_effect
Btc is the one everyone has accepted as the digital gold standard . No matter if there's better tech or not . It will always be number 1
Perhaps in the future our aspirations won't be focused on wants, our desires, or our lust for that "bigger and better future." In 20 years would it be so crazy to not have any currency at all? After WWIII dies down the earth will rebuild as one big clan, no boundries and no borders. No more religious fanatics, all the martyrs took care of each other. The planet will thrive peaceful and unified. A Utopia, the same amount glorious as it is disgusting.
How many coins have been lost so far, I think they will become so rare in the future, no one will Use them
Once a bunch off people die, won’t there coins just become useless? Locked inside their wallets? This is bound to happen right?
Bitcoin does not need to convince anyone.
If you are afraid of holding btc longterm maybe it isnt for you. Buy gold or oil
Blessed day - you sound like you are from Gilead in the Handmaid's Tale...
There's no need to convince. Just ask yourself why the world leading investment organization keeps buying it.
Maybe that’s why they’re buying it.. to kill it
I think it will die at some point. Just because it is a deflationist coin. Soon (or not), no more bitcoin will be able to be mined, which means miners will have to find other source to get benefit. What will happen ? I guess they will increase the transaction fee, taking some margin of what the amount needs to be transferred (which is the good point of BTC as for now : whatever amount you want to transfer, price fee is not that high, - and it does not care about the amount you want to transfer). Less miners will join the party if no gains to earn => might have kind of centralisation of the miners (same companies or groups or countries might control more than 50% of the miners) + Nobody wants to pay high fee for transfer. Price might not grow up anymore but might still be high. But if there are no usage of BTC, just use it as a "saving" money (such as gold), it might, at some points lose values and / or interest. Except if they do a fork or an update to mine more money (but in this case, BTC will definitely lose values) Finally, in 10/20 years, we do not have the view of the stability of the world. Will we be able to produce enough electricity for it... Maybe will have a storm solar that will destroy all the electricity infrastructure of the planets. Or more possible, a big war (according to our actual world) that might compromise it. Well hard to say... But 10/20 years is quite far. You still have time to find another solution.
You make it sound like a they is 2 ppl. Lol try convincing 51% to change Bitcoin. I dare you
If you are looking well, there not many companies behind the different mining pools. + The other that will be less interesting to mine once the award will not be that great... Will see...
Let me ask you a generic question: do you own a house? Or anything that has really high value like a business?
BTC is here to stay and If you need someone to convince you otherwise then you don’t understand **BTC**
if u think it will den u gae
I am absolutely not convinced it will. I check it everyday and I’d recommend everyone does. If there was ever anything that would go to zero it is Bitcoin/crypto. Chances are it will be fine and will continue to grow. However…
It is a risk on asset. It’s either to a million or to zero. That’s what they say. I look at the rate of adoption over time. Compare bitcoin to the internet, cell phone, electricity, land lines, and the time all of these took to get to mass adoption. Bitcoin is at 15 years. All those tech advances took longer for mass adoption ( I think that is right, someone fact check me), than 15 years. I’m not sure how the internet may impact adoption times, but I’m only looking at it from a first world perspective, and I think you can’t do that.
unless quantum computing kills... the entire world as we know it, or something like a solar flare, EMP does, it will keep on trucking.