What Does the Future Hold for Bitcoin
For the time being, the central banks seem to be diligently looking at the technology that Bitcoin has introduced, looking to use the decentralised method of record keeping, more commonly known as the blockchain or distributed ledger, the incentive to complete and record transactions in a real economy more effectively.
Bitcoin may have a mixed following at this time, but there are a number of countries that are ultimately considered to be Bitcoin friendly, with the list that is likely to continue to grow as more governments recognise and legitimate governments that claim the use of Bitcoin.
Denmark: The government is looking for a complete transition to digital currency, although it is still not clear whether Bitcoin will prevail, The Danish Central Bank has previously declared that Bitcoin is not a currency and that it would not regulate its use.
Japan: The Japanese government moved to legalize Bitcoin as an effective currency by law at the beginning of April in a move that saw the increase in the value of Bitcoin over The 1bn mark, with some of Japan’s largest retailers accepting Bitcoin payment as a result of legislation.
Seeing how things are now, with institutional investors flocking and a lot of early Bitcoin users who have the opportunity to build their fortunes and become tomorrow’s elites, there is a good chance that they will push Bitcoin to become a must-have asset for any type of portfolio or financial institution.
After ten years of rapid development and adoption, we believe that the next step for the industry will be to question what the best solutions to such deficiencies will be, and that means the design of digital currencies that integrate the best elements of bitcoin along with innovative economic ideas that can help protect against excessive volatility that puts investors at risk and throw the industry into negative light.
Through community consensus, Bitcoin’s protocol has evolved over the years and has remained the norm for the crypto market and Bitcoin purists.
For example, NEO and undulation are able to confirm thousands of transactions per second, so if Bitcoin is to become a global payment system, it must technically improve .12
As more and more companies are starting to accept Bitcoin, it will allow people to start using it as a real currency.
Essentially, if Bitcoin can increase its use in the real world, we could see one of the really positive forecasts of Bitcoin prices that 2020 is coming true.
Although Bitcoin has always been the first currency, it is important to remember that there are more than 1,500 different coins on the market.
There are many reasons why Bitcoin and other crypto currencies have been the victim of negative conversations by current and previous investors.
Crypto currencies are common to use as a commodity in countries with banks on certain purchases and where hyperinflation can affect local currency.
Bitcoin has ceased to serve a practical use as a digital currency and many users, traders, companies and investors have abandoned Bitcoin and sought an alternative, faster and cheaper cryptocurrency.
Bitcoin can’t scale if the rules are not changed, the longer the rules are left intact, the more BCC and other crypto currencies will compete to steal the market share of BTC.
Bitcoin Cash ( BCH ) will most likely face a similar fate and will continue to grow for the time being, despite the fact that Bitcoin money ( BCH ) has no significant advantage over Bitcoin ( BTC ) to justify its fourth position .32
According to the Fork, the total amount of the mining force supported the Bitcoin Cash blockchain surpassed by the Bitcoin blockchain.
BTC will die more or less slow death and Bitcoin Cash will be the new” Bitcoin”.
While others treat it as an alternative cryptocurrency currency, even during the bear market BCH has a daily volume of around 5 million dollars, making it the fourth largest in terms of market capitalisation.
Crypto currencies and blockchain will change human life in unimaginable ways.
Bitcoin first launched in 2009, and the development of blockchain technology has led it to the mainstream .2
The long-term viability of bitcoin depends on more people who accept it as a payment unit, but their valuation has been separated from its use as a trading unit .2
There are still concerns about the growth of computing power needed to support bitcoin, and whether it could limit its long-term growth .2