The Future Of BitcoinsteemCreated with Sketch.

in busy •  2 months ago

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There seems to be a lot of theories about Bitcoin and what the future of this cryptocurrency holds. This only makes sense since it is the token that gets most of the attention. It is, by far, the leader in this space. The question will it continue to be so? Many think Bitcoin will moon while others think it will tank.

In looking at what is taking place, there are a few conclusions I drew which seem to fit with where this is all going. Many might disagree but I came up with most of this without emotion. Also, I look at it from the perspective of those with the money and power.

Bitcoin has a limit of 21M tokens. This is all there will ever be. In fact, since there are many tokens presumed lost, the number is closer to 15M-17M. A lot of individuals feel this is a very good thing for the value of Bitcoin. In this regard, I probably agree.

Proclamation #1: Bitcoin will NEVER be money.

This seems to go counter to what many are saying but it is going to be the case. The reason this is true is very few people are going to have Bitcoin. This token will not be in the hands of the masses. Most people will never, ever be able to acquire this token. Thus, how can you have money when nobody has it?

So who will have the Bitcoin? The elite.

Bitcoin is the token for Wall Street. That is what is talked about on the financial networks; it is what is garnering the attention; it is what will separate the clients from their checks.

I am sure you heard of the applications for Bitcoin ETFs. There will come a point when this is approved. From a token value perspective, this is going to be a great thing; from the freedom of humanity, this is an awful thing. Bitcoin ETFs means the custodians will have control over the Bitcoin, not individual people. Hence, they will end up rigging the system in their favor.

Proclamation #2: Bitcoin will be very valuable

I am certain Bitcoin will maintain the top position in the cryptocurrency world. Once Wall Street does enter, the value of Bitcoin will go through the roof. There are only 21M so the finite amount means a whole lot of money chasing very few tokens. In fact, I am sure that the banks are already loading up on the tokens. They know what is coming.

Bitcoin will end up as a store of wealth. This will piss off all the gold bugs on here but those days are coming to an end in coming decades. There is no way under the sun that we are going to have physical, yellow metal as a store of value in the digital, virtual world. Each year, more of our existence is heading into the digital realm. Hence, our store of value will be digital also.

Bitcoin will be that value.

Proclamation #3: Bitcoin will remain volatile just like gold

Boom/bust is what Wall Street does and this will be no different. Over the next few decades we are going to see the antics of these people continue. This means there will be wonderful trading opportunities for those who are into that sort of thing.

The scarcity of the token along with the control the Street will have means that the supply will fluctuate via artificial means. They will decide when to flood the market or when to pull back. When hundreds of billions of dollars are dumped into this asset class, creating trillions in marketcap, we will see how powerful their buying power really is.

Proclamation #4: Nobody will care about the network.

Let's be honest: Bitcoin is a rotary phone in a smartphone world. The blockchain, itself, while revolutionary when it came out, has been surpassed. Basically, all the efforts to scale, side chain, etc... will mean little. There are better options out there.

Bitcoin will still be the chain people turn to for security. I can see it being a time stamp/documentation service where public records are stored. We also could see it still used for large transactions. Certainly, when one is paying a supplier in Vietnam $50K, a few extra Satoshi in cost and a two hour wait mean nothing. But again, for a cup of coffee, not really viable.

Proclamation #5: Bitcoin will have a very small ecosystem

Since the average Joe or Jane is not going to be holding Bitcoin, it will be a small ecosystem. There is no need for large scale development since the masses will be elsewhere. Bitcoin will be a niche network that houses mostly the elite. Again, since it is a store of value, transaction time and volume mean little.

Proclamation #6: BTC is all that matters

Bitcoin is a forking machine. Unfortunately for the new chains, they essentially solve nothing. In my view, they were really nothing more than money grabs. BCash was done knowing full well that larger block sizes were not the answer for scaling. Yet it was done.

BTC is the granddaddy and that is what Wall Street likes. It has the name and reputation. This is what will bring in the big money. Over time, BTC will emerge the sole token that people want from this realm.
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In closing, anyone who HODLs BTC, in my view, will do very well. It will moon at some point. I understand Wall Street and how powerful they are. They are itching to get into this arena. Once the institution money starts flowing, watch out. Prices will go crazy. John McAfee is a bit off center but he could be right about this eventually reaching $1M a token.

Wall Street has that power.

However, as a technology, the blockchain has challenges that will not be overcome. It is already too late in the game for that. While Bitcoin is trying to figure out how to scale, other chains are adding dapps that will appeal to the masses. This is a huge difference in focus. We live in a rapidly changing world, one where playing catch up is tough.

Bitcoin was viewed as a breakthrough for humanity and essentially it was. It will not be the freedom token many thought. That will come from elsewhere. Bitcoin will be the token of the elite. Most of the distribution is going to end up in the coffers of hedge funds and Wall Street banks. Do not be surprised if we come to find out that the bankers also invested in the mining companies.

So what will save humanity?

In my view, it will be the utility tokens that end up in the hands of people. This is where freedom will come from.


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I agree with all raised proclamations more or less 90-100%. Interesting to read something that looks like be writen by myself.
To much importance people give to btc scaling. It is not needed. It can serve as store of wealh perfectly as it is now. Even witout LN. OTHER BLOCKCAINS, other utility coins can serve fine for many variuos extreme needs, whatever it might be. Some are fast, some anonymous, some very cheap/free TX, some super secure. Combine them all in a seemless united ecosphere of INTERNET OF BLOCKCHAINS - and voila, most problems are solved. This tool to do this already exist, it has been already invented, created. It's name is BLOCKNET.
Just study it, and eventualy you will get the big picture (of the decentralised future digital world)

Btc will moon!

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Thanks for your information

Wall Street participation goes against the whole concept of Bitcoin, cannot be a safe haven from the system if the system control s it.

There was some total knob in my newsfeed today spouting crap about BTC being a complete scam, and that it will never be money, and everyone involved with it is going to be living in a cardboard box eventually.

I'm sure he was probably trying to skew the market because he has money invested. I really can't stand these Market manipulators though. I hate people that are contrary just to be contrarians almost as much as the manipulators.

I think that Bitquin will rise with the time well explained

I agree. Bitcoin is the grand-daddy, and already behind the new and upcoming generations.

21 m and each is oNe MiLLiOn Shit-o-shiz, and to make that into a word-problem, how much would a Shitoshi be worth? 3 spoilt eggs and a gallon of tap water?

Bitcoin will end up as a store of wealth. This will piss off all the gold bugs on here...

Don’t be so sure about that pissed of part. Andy Hoffman (a gold bug by anyone’s definition) has long referred to Bitcoin and precious metals as the twin destroyers of the fiat regime.

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Hope it will.

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