Bitcoin has been running steadily for ten years and nothing indicates that it will stop soon. But how is the mother of all cryptocurrency
Digital currencies, mostly decentralized, always distributed and protected by a cryptographic protocol. Bitcoin was the very first cryptocurrency.
"crypto-currency" To develop in the long term, for example in ten or twenty years? Here are some scenarios of what Bitcoin might look like in the distant future.
1. Bitcoin becomes the world's reserve currency
As cryptocurrencies continue to grow and attract more users, governments may begin to convert some of their assets into Bitcoin and other cryptocurrencies. Bitcoin transactions are not subject to government limits or regulations, they only follow the Bitcoin protocol.
Governments could start doing business with other countries in bitcoins. Countries exposed to unfair sanctions can use cryptocurrency to survive.
Protect your crypto-currencies …
… with the NEW Ledger Nano X – Click here for the test report
Hyperinflation has had negative effects on many countries over the course of history. Even today, countries like Venezuela and Zimbabwe have national currencies that have been a thousand times more exposed to inflation over the past decade. By using Bitcoin, they could link their economies to the global economy and protect their currencies against inflation.
2. Bitcoin goes to 0
The next possible scenario is that Bitcoin crashes to zero. A potential bug in Bitcoin software could seriously damage reputation and trust. Although this is very unlikely, it can not be completely excluded. No software is flawless and errors are usually not detected long.
However, the system that constitutes the digital resource infrastructure remains strong and the network shows no sign of major failure. The Bitcoin crash to zero seems to be the most unlikely of possibilities, but this scenario exists and people around the world should be aware of it.
3. Bitcoin is moved by another cryptocurrency
There are many other crypto-currencies that want to query the position of the main cryptoasset, such as Ethereum, Bitcoin Cash or Ripple. Bitcoin must be innovative to survive. the Lightning Network
Lightning Network is a resize option for the Bitcoin blockchain. You are no longer limited to 7-15 transactions per second. In addition, you can reduce transaction fees to almost zero via Lightning.
"href =" https://decentralbox.com/bitcoin-glossar/lightning-network/ "> Lightning Network, the supposed savior of Bitcoin sizing problems, has only been accepted from the beginning.
4. Bitcoin could be part of a default wallet
Bitcoin is increasingly seen as a commodity because the financial aspect of cryptographic currencies is at the center of the industry. As cryptocurrency markets mature, more and more private and institutional investors are attracted to potential gains.
Protect your crypto-currencies!
We took a closer look at the new Nano X big book. Learn all about the new hardware portfolio here.
In this scenario, bitcoins and other digital currencies become a standard part of the average financial portfolio. Many investors are diversifying into stocks, mutual funds, real estate and other asset classes. Cryptocurrencies might look like precious metals.
Which scenario is most likely for you? Or do you even have another scenario? Let us know in the comments!
If you have a materialwallet
A virtual wallet to "store" cryptocurrencies. (Strictly speaking, only the private key of a cryptocurrency is kept here)
"href =" https://decentralbox.com/bitcoin-glossar/wallet/ "> Portfolio To protect your crypto-currencies, you're already half off. But do you also protect your recovery words? With this titan plate, your backup words can not even hurt the fire.