In less than a decade, Bitcoin has taken an incredible ride, one with all of the twists and turns that you might expect from a Hollywood thriller.
It has all happened so fast, in a whirlwind of activity, that it’s doubtful if many people have stopped to think about where Bitcoin will stand in the future. Many people fixate on the near future and the here and now, but it is a fascinating exercise to think about what the standing of Bitcoin will be many years down the road. It’s probably impossible to say, but it is possible to speculate on the factors that will ultimately determine its fate.
Investors may not have too much concern about where Bitcoin will be in the distant future from now since they have to be diligent about making profits in the months and weeks ahead of them. Many of those people achieve this through the use of a crypto robot like Bitcoin Loophole. For those who might be thinking long-term, as in way into the future, here are some of the things that may eventually cause Bitcoin to either be the dominant force in finance or a forgotten fad.
The biggest obstacle to how well Bitcoin does in the future will be governments that decide whether or not there is validity in all that the digital coins bring to the table. If they can look past the fear of the unknown and perhaps accept Bitcoin’s promise for revolutionizing finance, the technology itself will difficult to deny, as it makes financial transactions much easier for people than other methods of paying.
- Public Pressure
Whenever there is an issue that the powers that be might find either threatening or controversial, it generally takes the people within a society to make the change happen. If the adopters of Bitcoin demand that it be a part of the financial world, and there are enough of them, you can be certain that it will indeed gain a foothold for a long period of time.
- Playing Nice
At some point, if it wants to become something more than just a fringe player in the financial world, Bitcoin must find a way to coexist with financial institutions such as banks or credit card companies. The idea that Bitcoin can wipe these entities away without them putting up a fight is unlikely; there has been a backlash from them already. The best chance for Bitcoin is if it somehow can prove its worth to banks and credit card companies without muscling in on their territory too much.
- No Hiccups
Bitcoin has to avoid a major scandal of some kind. It is already on the tenuous ground with many people who don’t trust it, in large part because they don’t understand it. But something that really puts a black mark on the Bitcoin brand might be difficult to overcome.
Watching how Bitcoin develops from this point will be interesting. In a vacuum, it would rise on the strength of its utility and convenience, but how it deals with outside factors will make the difference.