umo98

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What is Bitcoin’s future?

Of course, only time will tell if these predictions are accurate. However, some central banks are quite pessimistic about Bitcoin. Because if the situation keeps going like this, Bitcoin will become a threat to the central banks’ existence. For example, in Bazel, Switzerland; International Payments Bank criticized Bitcoin heavily in their 2018 annual report. Among these criticisms were Bitcoin’s security issues and possibility of fraud. Despite this we can see that Bitcoin is a currency whose usage is increasing day after day. Moreover, Bitcoin keeps improving as a part of our lives with both benefits and downsides. People are providing demand despite the said security issues. This phenomenon can be seen as a reaction to the continuous intervention by central bank or government controlled currencies. After reviewing all of this process, the first question that comes to our mind is “Is Bitcoin a currency or a speculative entity? How can we describe it?”
 

Elvlin

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No. Bitcoin is speculative entity, and it's based in community use. At the same time our currency is based on our country power. I myself think there will be a time when 1btc =$1.000.000. It's a matter of when. Well nobody here is a prophet, so no one really know about this. BTW gov cannot kill cryptocurrency except you live in dictator country. Or our planet got hit by emp, than internet die.
 

RanQ Higher

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In my opinion, we've to wait until the lockdown period with monitoring eye... then only we can conclude about all the market caps!
 

SultanSultan

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Bitcoin is only praised because of it's popularity since there are thousands of cryptocurrencies better, securer, faster, more anonymous and cheaper than Bitcoin. Cryptocurrencies could definitely have a bright future in our economies but Bitcoin? I don't know to be honest. I wouldn't even use it today if it wouldn't be so wide-spread and only pay with Dash or Monero.
 

John Nubba

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What is Bitcoin’s future?

Of course, only time will tell if these predictions are accurate. However, some central banks are quite pessimistic about Bitcoin. Because if the situation keeps going like this, Bitcoin will become a threat to the central banks’ existence. For example, in Bazel, Switzerland; International Payments Bank criticized Bitcoin heavily in their 2018 annual report. Among these criticisms were Bitcoin’s security issues and possibility of fraud. Despite this we can see that Bitcoin is a currency whose usage is increasing day after day. Moreover, Bitcoin keeps improving as a part of our lives with both benefits and downsides. People are providing demand despite the said security issues. This phenomenon can be seen as a reaction to the continuous intervention by central bank or government controlled currencies. After reviewing all of this process, the first question that comes to our mind is “Is Bitcoin a currency or a speculative entity? How can we describe it?”

Any coin can be a speculative entity, all depends in report with what is respective coin. If we talk about a specific case BTC/USD, bitcoin is a speculative entity 100%, because his value isn't fixed and it is volatile!
 

James2774

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Bitcoin is only praised because of it's popularity since there are thousands of cryptocurrencies better, securer, faster, more anonymous and cheaper than Bitcoin. Cryptocurrencies could definitely have a bright future in our economies but Bitcoin? I don't know to be honest. I wouldn't even use it today if it wouldn't be so wide-spread and only pay with Dash or Monero.
Doesn’t matter what is better it matters which is popular.
Beta max was better but lost out to VHS is the old example.
No one knows what monero is.
Everyone knows what BTC is.
BTC is the default
 

vinoxe

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I don't know much about bitcoin investing however here is a couple things you may consider.
Most of you know bit coin is based on the blockchain. The idea beheind block chain is to setup a extremely difficult math problem every ten minutes or so, anyone can try to find a solution. If you find a solution all payments executed during these ten minutes are confirmed, the winner is rewarded, and a new problem is released. The role of miners is to find a solution and get the reward.
However the more bitcoin are in circulation the less the reward. This mechanism sets a limit to the number of available bit coin at 20,999,999.97 bit coin. There currently are roughly 19 million coins. Plus mining as an electricity cost attached to it (to run programs) therefore eventually btc will loose its miners because as the reward shrinks the margin diminishes.
A problem might arise if miners then deiced to go for an other crypto and create the hype on an other crypto?

On the other hand if bit coin keeps being more and more used because the mass of bit coin is limited the value is 'limitless'. A thinking experiment if you want to convince yourself : if btc were to replace dollards(not likely) the current total 10 trillions $(plus other currencies) would become 21billion btc...

Lastly btc just like any currency in use today is 'speculative' in the sense that it's only value comes from the fact that everyone agrees it has value. However unlike other currencies you may think of its not supported by any government which is nothing to overlook at.

For me it's speculation, but I just wanted to bring you an other perspective.
 

tints

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Bitcoin future is it's ability to move such vast sums of currency in such little time and such a small cost. A whale can move 1 million dollars in btc for .70 cents
 

jasonforrest

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Stablecoins will crush BTC long-term with regards to marketcap and usage
I disagree. Stablecoins are tied to their fiat currency, those are inflated massively and purchasing power of both will continue to decline.
 

JonasGreyHound

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I think cryptocurrencies definitely have a future and I believe bitcoin will be it. Other coins might be better, but it's more about which coin is available and bitcoin is much more famous than any other coin, so I'm placing my bet on the belief that bitcoin will increase a lot in the following years.
 

VSYNC

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I disagree. Stablecoins are tied to their fiat currency, those are inflated massively and purchasing power of both will continue to decline.
Mass adoption can’t come from Bitcoin, no matter how much maximalists believe that it will. The instability of the price of Bitcoin is what has limited its use for anything other than speculation.. I’ve made and received a lot of payments in BTC, it doesn’t mean I would ever want my salary to be paid in it.

Stablecoins on the other hand are suitable as a bridge between the normal economic activities of the general population and the benefits of DLT assets.

Also stablecoins don’t permanently require to be pegged to fiat, and even today there are algorithmic, non-collatereralized stablecoins that aren’t dependent on holdings of USD etc

Bear in mind this is the earliest stage of stablecoin development, it’s only just starting to be explored.
 

maddness.2

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Bitcoin is now considered as a store of value, like gold. So people are increasing their exposure to it as part of a well diversified portfolio. I think it only increase in value as more and more people adopt this. It cant be used to buy a coffee, but it can be used to store value - just like gold is used.
 

nakamura

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Crypto has a great future. BTC itself probably not. Whatever, no one is going to give you a correct answer on this question, because it depends on my things.
 

Stifl

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Bitcoins got their hype already. They probably won't increase too much in value (even though still a lot more than gold and other casual goods) as they have in the past BUT many networks offer nice interest rates if you lend them your bitcoins. This gives about 4-20% yearly return (Even though the 20% is for private investors, I haven't found a legit public website for that yet).

And it is a nice payment method so why not use it
 
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