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Bitcoin future?
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cravenprofession

Member Since Sep 04, 2019  10 posts cravenprofession Jan 29 at 12:22
The future of BTC is too unknown right now. It is impossible to predict. It is feasible that it could reach over $20k again but it is also feasible that it will be band or confidence will be lost resulting in $0. Anyone who predicts correctly is just lucky

momo3HC

Member Since Oct 20, 2018  90 posts momo3HC Feb 01 at 14:54
AdrianG001 posted:
I believe that Bitcoin is going to have first mover advantage in the crypto world for long time. This could lead to rise in price of Bitcoin and it can only be considered as a digital gold for storing value. But as far as becoming a mainstream currency, I think Bitcoin is going to fail big time.

Reasons why bitcoin will fail as mainstream currency:

Consider most of use cases where you need to use currency in daily life. For example, you are going to coffee shop to have a cup of coffee and now you want to pay using bitcoin. The very first problem is transaction fee. To pay for a cup of coffee, you need to pay a transaction fee that can be much more than the cost of coffee itself. Other limitation will be transaction time. No one would like to wait to check if the transaction was confirmed or not, and with time the transaction speeds will get slower.

Current Alternative

All blockchain based solutions will be having these limitations for long term. So what can be the alternative for this? Currently, the only cryptocurrency working for the solutions of above problems is IOTA. It is designed to target instant micro payments with zero fee. It is currently in its beta and gaining huge traction as an open source project. It is based on TANGLE which is not a blockchain but based on DAG (Directed Acyclic Graphs) for transactions.

So, though Bitcoin keeps on gaining popularity (as the new investor doesn’t know about use cases and follow the hype), the adoption of bitcoin as mainstream currency will not be possible and the simple reason behind this will be huge transaction fee and time.


Regards,
Adrian


Firstly got to thank you for the professional opinion. Secondly the BTC is already a digital gold and it`s considered as a safe haven.
With this qualities BTC don`t need to become a mainstream currency also like Gold don`t need it. If it some kind need this the only problem will may be the confirmation need. After all i`ve heard for a couple of million transaction last year which cost pennies to be done so the pluses are more than minuses.

momchil_slavov@
momo3HC

Member Since Oct 20, 2018  90 posts momo3HC Feb 01 at 14:56
Adribaasmet posted:
birthtamper posted:
Bitcoin is the 'gold' of crypto currencies and just like real gold it has not real physical purpose and is just used to store wealth. Bitcoin is likely to survive for a while and appreciate but if there are any market jitters that cause another collapse in the price I think it will be over for Bitcoin as everyone will realize it is empty


Well said & I agree with you! We are too early in BTC, in this decade there scenario will be totally different!

Well said? Nothing personal but i don`t think so. What will be the scenario this decade?

momchil_slavov@
momo3HC

Member Since Oct 20, 2018  90 posts momo3HC Feb 01 at 14:58
cravenprofession posted:
... resulting in $0...

Really think so...?lol

momchil_slavov@
Elias64453

Member Since Feb 11, 2020  3 posts Elias64453 Feb 13 at 14:34
Bitcoin, I think, will sooner or later be reset to zero. I think that this will happen no earlier than 2033.

Oliver3634

Member Since Feb 11, 2020  4 posts Oliver3634 Feb 14 at 10:56
Elias64453 posted:
Bitcoin, I think, will sooner or later be reset to zero. I think that this will happen no earlier than 2033.
Bitcoin lasts a long time. This is the first cryptocurrency, and it has the trust of people.

momo3HC

Member Since Oct 20, 2018  90 posts momo3HC Feb 16 at 15:52
Elias64453 posted:
Bitcoin, I think, will sooner or later be reset to zero. I think that this will happen no earlier than 2033.

Any real and specific arguments for this statement?

momchil_slavov@
jamesgwyther

Member Since Aug 05, 2017  278 posts jamesgwyther Feb 18 at 16:40
Elias64453 posted:
Bitcoin, I think, will sooner or later be reset to zero. I think that this will happen no earlier than 2033.
No chance.

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