Will Bitcoin Survive Long Term? - Crypto/Bitcoin Vlog #1

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Well I kinda fubared on my first Dtube post as I didn't realize it also posts to your steemit blog.

So basically during this run up in BTC/USD price and now the drop I have been thinking about the long term out look of Bitcoin and Blockchains use as a currency. In the past I thought of Bitcoin as the future of money and with a small amount of usage it worked well. Now that there are many more users the blockchain lags which has spawned forks and thousands of other altcoins which are all claiming to be the transaction system of the future.

However what ever digital currency we do end up using in the future it will need more circulation coins as there are 7 Billion people on the planet. I have no problem with scarcity however 21 Million coins is too small of a base. Also we know that the first 960,000 coins mined don't even move on the chain. Most likely the keys are lost also there have been sends to bad addresses so we are looking at a situation where at least a million coins are now in lost forever in the blackhole of the block chain. Bitcoin is and always will be a success as the first decentralized internet ledger/currency but as I mention in the video as with early O/ses and every other tech the long term use ends up being different then the short term.

That is not to say I am bearish on Bitcoin, I am a bull. I do feel the price will rise again after this last crash in the short term. Mainly on the fact that most people only know of the Bitcoin brand so their first foray into the crypto universe will most likely be with bitcoin. Just as I first used DOS back in the day, but wide computer adoption happened with Windows95. A system where by the average person could easily use a computer. With that being said Windows 95 just hid the Dos Kernel under a fancy Gui veneer. So you could argue going a year or two forward bitcoin will still underpin the crypto/blockchain tech space. Moving 20 years forward from Windows95 we have Windows 8 and now Windows 10 which no longer use the older DOS kernel. Sure Dos still exists somewhere today as an embedded system or on an old system adding value still to niche areas but overall it's passe.

Looking at the march forward of tech we need to think about these cycles and learn from them. Early digital communication was the same. We started with Telephone based BBSes (E-Gold) then came Compuserve with a small network (Bitcoin Core), Prodigy and other copies of the same template (Altcoin Cryptos), America Online which brought the internet to millions (Where we are now with Bitcoin/Altcoin Apps). Very few of us still use AOL so what is the next jump? Today most people use broadband which has more scalability and uses then all the services of the past combined. What will be Crypto-Broadband equivalent? I don't know but I will be chronicling my journey till I find out and you are welcome to share and discover the answer with me.

Just something to Think about :-)

I'd love to hear any thoughts and theories of what the future will bring. Drop me you links.

Thanks :-)

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