The future of Bitcoin?
What is Bitcoin and what will it become?
To believers, it’s the future of money, privacy and payments, the end of greedy banks and the fall of government fiat currencies.
To critics, it’s an elaborate scam, the currency of cyber villains, a threat to sovereign states.
To others, it’s already nothing, practically dead on arrival.
In which side are you?
A believer of the tech, but not bitcoin replacing current financial system, most especially banks. The blockchain technology brought up a lot of interesting projects and ideas from other entities not working for bitcoin. I’m interested on seeing those developments done on the blockchain, and how would it further revolutionize the way we look at transactions nowadays. As for bitcoin, it can be a tool used to transfer value from A to B, but it should first come a long way before it completely replace fiat and traditional banking.
I don’t know, I kind of feel like bitcoin is the Yahoo of digital currency, It works, it’s popular, and people have used it since the birth of this movement. But sooner or later the google of digital currency is going to come along with a vastly improved way of doing it and leave bitcoin in the dust. I don’t think that’s happened yet or is even about to happen, but these things happen all the time in tech. Friendster > MySpace > Facebook is another example. One dominates till something better you never knew you wanted comes along.
Keep in mind I’m not an expert by any means, who knows what will happen? If anyone did know I’m imagine they would become very rich.
Bitcoins are progressing now all over the world, and people are now trusting it more and more.
The reason behind it is the features and performance of bitcoins as a currency. What I see in future of bitcoins is that bitcoins will be used more in other countries and soon we will see that even local shops will accept bitcoins as payment.
But, there’s a negative side of it as well, bitcoins’ use for gambling and illegal purposes may increase too in future. The thing is that future is unpredictable and you can never say what would happen exactly, but there’re more chances for positive results than these negative ones.