How Bitcoin is Really Future Of Money?

<div dir="ltr" style="text-align: left;" trbidi="on"> <span style="font-family: "arial" , "helvetica" , sans-serif;">Where is Bitcoin headed? No one knows for sure, but a popular refrain is heard in the Bitcoin community: In ten years, either Bitcoin will be worth nothing, or </span><span style="font-family: "arial" , "helvetica" , sans-serif;">significantly more than today. I believe this is true.</span><br /> <span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span> <br /> <div class="separator" style="clear: both; text-align: center;"> <img alt="The Future of Bitcoin" border="0" height="268" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhRxAjOCb1167kWUHw7n2xUDJrLh2fttsB6NWEgJbDKCO5PdqK8J2OKYL_dB_u7umPJQWpQNW8oysUk5Di16jU24BybzHzQvVohGF1v-cqaxG00c-hrn1GiVFk7flMQNtu6y40S-LRgIKI/s400/Future+Of+Money.jpg" title="The Future of Bitcoin" width="400" /></div> <span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span> <span style="font-family: "arial" , "helvetica" , sans-serif;">The idea of digital money that you manage yourself is a powerful one, and in the first four years of this monetary experiment we’ve seen explosive growth. It’s easy to </span><span style="font-family: "arial" , "helvetica" , sans-serif;">see continued growth in both individual users and businesses that accept coins. If it continues at its current pace, the value of 1.0 BTC will continue to rise </span><span style="font-family: "arial" , "helvetica" , sans-serif;">compared to other currencies. </span><br /> <span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span> <span style="font-family: "arial" , "helvetica" , sans-serif;">Eventually, goods and services might be priced in Bitcoin itself, instead of relying on other currencies to judge value. Online shopping </span><span style="font-family: "arial" , "helvetica" , sans-serif;">might not require entering your credit card information, or signing up for a PayPal account. Your identity wouldn’t need to be revealed when purchasing goods, unless </span><span style="font-family: "arial" , "helvetica" , sans-serif;">you made that choice.</span><br /> <span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span> <span style="font-family: "arial" , "helvetica" , sans-serif;">Another aspect of Bitcoin that I haven’t discussed is the potential for smart contracts, which use the cryptography inherent in Bitcoin to facilitate more complex </span><span style="font-family: "arial" , "helvetica" , sans-serif;">transactions, such as escrow services, arbitration, or even estate management. If Bitcoin becomes more popular, these services will likely be implemented in the code </span><span style="font-family: "arial" , "helvetica" , sans-serif;">(as Satoshi originally intended).</span><br /> <span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span> <span style="font-family: "arial" , "helvetica" , sans-serif;">But the future is far from certain. There are three primary threats to Bitcoin that I see on the horizon, that could substantially restrain—or even destroy—this new </span><span style="font-family: "arial" , "helvetica" , sans-serif;">monetary system.</span><br /> <span style="font-family: "arial" , "helvetica" , sans-serif;"><b><br /></b></span> <span style="font-family: "arial" , "helvetica" , sans-serif;"><b>1. Technical.</b> Right now the Bitcoin economy runs fairly smoothly, handling tens of thousands of transactions daily. But what will happen if that hits millions of </span><span style="font-family: "arial" , "helvetica" , sans-serif;">transactions daily? Can Bitcoin handle the same amount of volume that a major credit card does? There is speculation on both sides of the issue, but no one really </span><span style="font-family: "arial" , "helvetica" , sans-serif;">knows. If the system isn’t able to handle a large amount of transactions, its value is obviously limited.</span><br /> <span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span> <span style="font-family: "arial" , "helvetica" , sans-serif;"><b>2. Governmental.</b> Because Bitcoin can be used for illegal activities (so can cash), and because the Bitcoin system is inherently difficult to regulate, governments </span><span style="font-family: "arial" , "helvetica" , sans-serif;">across the world might decide to limit their citizens’ ability to use Bitcoin. If this happens, it will obviously inhibit the Bitcoin economy significantly.</span><br /> <span style="font-family: "arial" , "helvetica" , sans-serif;"><b><br /></b></span> <span style="font-family: "arial" , "helvetica" , sans-serif;"><b>3. Competition. </b>Right now, Bitcoin is the clear leader among digital currencies, but it isn’t the only one. Several alternative cryptocurrencies have taken the Bitcoin </span><span style="font-family: "arial" , "helvetica" , sans-serif;">code, altered it, and launched their own currency. Some of the most popular ones include Litecoin, PPCoin, and Ripple. These aren’t nearly as valuable as Bitcoin, but </span><span style="font-family: "arial" , "helvetica" , sans-serif;">it is possible that one day another digital currency could replace Bitcoin if it were significantly better.</span><br /> <span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span> <span style="font-family: "arial" , "helvetica" , sans-serif;">If Bitcoin can handle large transactions, avoid government restrictions, and beat the competition, I believe it will become the standard currency of the internet. This </span><span style="font-family: "arial" , "helvetica" , sans-serif;">monetary experiment has evolved from a nine-page paper written in Fall 2008 to a billion dollar marketplace today, with millions of dollars of investment capital </span><span style="font-family: "arial" , "helvetica" , sans-serif;">flowing into new start-ups, and new services launched each week.</span><br /> <span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span> <span style="font-family: "arial" , "helvetica" , sans-serif;">Only time will tell if Bitcoin will be as revolutionary to our current monetary system as email was to the old system of communications. It’s certainly off to a great </span><span style="font-family: "arial" , "helvetica" , sans-serif;">start, and I hope this guide has helped you to join this grand monetary experiment.</span><br /> <span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span> <div style="text-align: center;"> <span style="font-family: "arial" , "helvetica" , sans-serif;"><b><a href="http://webitcoin.blogspot.com/2016/03/big-advantages-of-bitcoin.html">Read Next: Big Advantages of Bitcoin</a></b></span></div> </div>

How Bitcoin is Really Future Of Money?

Where is Bitcoin headed? No one knows for sure, but a popular refrain is heard in the Bitcoin community: In ten years, either Bitcoin will ...

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