Future of Bitcoin

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 #!Pro
Dec 13, 2021 24 Comments

Personally, I’ve never been a big believer in crypto. If anyone and everyone can launch a token, and underlying tech is really a distributed database for recording transactions, how practical is it to have private entities create their own currencies? All it will take will be one legal move from government to outlaw Bitcoin and any or all other crypto. After all, threats to US Dollar are taken very seriously.

Having said that, Bitcoin has won the battle of survival so far, and chances are it will probably win in future as well. There will be governments launching their own cryptos, but Bitcoin will hold value.

My prediction for the future is that Bitcoin will eventually be like gold: valuable but largely irrelevant. It will have its niche use cases, but mainstream public will continue using currency backed by government and protected by law. Share your thoughts, and feel free to poke holes in my logic

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  • Visa + Master process 40 billion transactions per year and Bitcoin network can process 10 million transactions per year.

    So if you pay for coffee by credit card transaction takes 2 seconds and zero fees.

    If you pay by Bitcoin it will take 2 hr 13 mins to process and $10-$20 transaction fees.

    That's pretty niche :)
    Dec 14, 2021 13
    • Robinhood / Eng
      STOCKD0WN

      Go to company page Robinhood Eng

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       STOCKD0WN
      OP, glad it made sense. This is just one use case out of hundreds that are coming out of just DeFi.

      There is also projects related to music like Audius.

      Gaming projects like SAND and MANA.

      The list goes on. I am not sure what the future of crypto will. No one really knows. That’s kind of the exciting part.

      You should also look up congressional hearings of crypto and web3. There is a gentlemen named Brian Brooks and he explains the future of crypto VERY NICELY.

      I would highly recommend! It happened only a week ago.
      Dec 15, 2021
    • New
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      OP
      Very interesting!
      Dec 15, 2021
  • Today I had an epiphany: all the tech I didn't believe in became big. Bitcoin will definitely go to the moon again over and over lol
    Dec 14, 2021 1
  • Google
    acegik!

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    NFT salesman
     acegik!
    Bitcoin is boomer tech now
    Dec 13, 2021 1
    • New
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      New

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      OP
      Lol! Good one!
      Dec 13, 2021
  • Wayfair / Ops
    LaZLO_WCTR

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     LaZLO_WCTR
    Bitcoin, just like other cryptos are propped up by 30-50 whale wallets- the second that one or a few very large wallets sell, the whole coin value collapses. Rug pulls are terrifying and can happen in seconds

    With that said crypto profits go brrr rn
    Dec 14, 2021 0
  • Taylor Farms
    Muut

    Taylor Farms

    Muut
    The value comes from the network effect. Not the technology. But technology started the network effect though
    Dec 13, 2021 0