What’s Next In Line For Bitcoin – Tougher Times Ahead?

What’s Next In Line For Bitcoin – Tougher Times Ahead?

What is the next big wave happening for Bitcoin? It has been a euphoric ride for Bitcoin and other digital currencies, so many people are wondering what’s next for Bitcoin.

Bitcoin Dazu ist es notwendig has been around and had a strong impact on economies because of its usefulness, security, transparency, availability, and transaction speed. Basically, anything that is unable to keep up with the market is bound to a catastrophic tomb sooner or later.

Bitcoin’s evolution is tricky. Predicting its future is even trickier. It can go both ways for Bitcoin – go zero or its values shooting for $1,000,000. This is how Bitcoin can create or transform societies and economies right now and in the future. The computer and internet technology has been nearly impossible decades ago but now it’s what powers up a lot of businesses and even daily lives.

People can go on and on with predictions but do they get it right? Yes, in fact, a lot of scientists were right about the coming of GPS, satellites, cloud computing, and the internet. The transformations that are happening now would be just a matter of forming opinions and creating rationalizations and predictions of how the future would look like. It’s not how predictions should be though.

What’s Next for Bitcoin and Other Cryptocurrencies

People have been loudly talking about bubble or economic bursts which can cause Bitcoin to crash. This can be true but it’s not the end of it. There is tons of potential in decentralized technology so it’s just the beginning for Bitcoin. Around 90% of tokens are bound to fail but no matter, the bubble burst or pop can actually result to more ideas.

Many years back, when the internet bubble was feared, people and many business giants panicked that stocks would crash and kill their businesses but the fear was blown out of proportions. The world survived the internet bubble. In fact, Google, Facebook, and Amazon plus a lot others have started to transform how brands operate and people’s lifestyle.

This is the very same scenario that will happen for Bitcoin. So, these blockchain startups would soon be the Google and Amazon of the future. This can even be seen as the government or digital cash of the future for some.

Fear is what comes out from innovation or trying to create something out of thin air. There are no tools, guides, blueprints, or business models to copy from. It’s just your creativity and imagination that works for you. That is why a lot of startups fail, but won’t care a bit. They just rebuild themselves. The bubble burst would just be the begiining and after that would be the building up phase for Bitcoin.

The Power Play of Bitcoin

Bitcoin might go down really hard but it will survive because of many advantages. First off, it’s the first of its kinds and has the prime or first mover edge against other cryptocurrencies. This is the reason why it’s the most popular and dominant digital cash in the world today. The flaws and controversies surrounding Bitcoin is dragging it down. The very strength of Bitcoin can actually be its major flaw. Operating under a decentralized blockchain may have its advantage, but with no built-in governance, there could be a problem somewhere down the line. Its own hard-coded system can actually work against it.

The cointanerization concept though has allowed Bitcoin to thrive amidst the ups and downs of market prices. This is what helped Bitcoin adapt and survive through the radical changes. Digital currencies and the cold and hot wallets that go for storage seem too complicated even for grandma. Not everyone is a Tech specialist or IT expert, so this is against the user-friendly terminal.

Converging Old and New Technologies

The only systems that would thrive in today’s modern world and the future would be one that converge the elements of the classics or old system and the new system with big features for massive adoption.

New technologies like blockchains or cryptocurrencies like Bitcoin should be able to work in a wider world enough to replace old technology. It should be easy-to-use and to adapt to with advanced features such as the iPads or Kindles that has the ability to store thousands of books you love in one compact read. No tree can actually beat that so that explains why it was such a hit to the masses.

In order to dominate the market, Bitcoin must follow that same path. It must have the simplicity of the old and the power or advanced features of the new technology. With cryptocurrencies, having to pass down digital cash to your children would need an arbiter or an algorithmic financial institution. You can’t just share your keys to loved ones or friends because relationships change in the course of time. There are so many hazards like what if you forgot your password or key to your BTC wallet?

There are so many complications and challenges that Bitcoin and other cryptocurrency holders and investors would need to be ready for. There must be some sifts and shifts to the system to make it a more robust platform for everyone. It’s the greatest upgrade that ever happened to the economic system and changed the global definition of money.

Cryptocurrency holds a lot of potential for tomorrow. While there seems to be no stopping for Bitcoin and the digital economy, inertia has a way of slowing down everything, even rockets.

About The Author