You are viewing a single comment's thread from:
RE: A Review of a Few Fundamental Metrices that Drive Bitcoin Value and What They Currently Indicate
IMHO, bitcoin will still be the main cryptocurrency of the future but the transactions will be done using other low-fees cryptos such as ETH, XRP or XLM. Meaning, in a distant future, transactions between BTC wallets will be handled by robots, acting as a "bank", while small HODL-ers will be doing transaction using other currencies. This insinuates that decentralization of BTC will mostly be federated among the whales.
Very interesting take. This is indeed one possible path this could all go. Although I'd want to still know what basis would keep BTC the main cryptocurrency if doesn't have the utility (or maybe that part was just not expressed). Is it that people would just kind of agree to keep it the main cryptographically enabled digital currency just for the sake it was the first?
In tech that almost never happens. Didnt fot netcape, aol, myspace, etc. Utility always seems to win in the end in tech.
I am not as knowledgable as you, my friend, but with every country starts regulating bitcoin (and probably ban some other, unsafe, cryptocurrencies), bitcoin and some other cryptos will reach a status as hard currencies. Thus, willing or not, the other cryptos will be pegged to bitcoin (like many countries are now pegged to USD).
I foresee some sort of a "United Nations of Bitcoin" or "International Monetary Fund of Bitcoin" or "World Bank of Bitcoin" --international bodies to regulate bitcoin ownership and distribution, which is politically enforced for national security issues. So, yeah, that could be the only utility that bitcoin have in the future. This is way beyond Satoshi's original idea of the blockchain --a decentralized bank and empowered citizen-- but governments still have the rule, otherwise there will be chaos.