Bitcoin is the greatest financial innovation of our times. There's no doubt that Its future will be bright. However, there may be factors ranging from technological advancements to regulatory changes to influence its speed of progress in a positive direction.
Why not Stackers have a say on it and just tell SN that what factors are the ones that will impact Bitcoin the most in next 5 years?
Institutional Adoption3.9%
Government Regulations9.8%
Technological Advancements13.7%
Market Demand and Adoption45.1%
Competition from Other Cryptocurrencies0.0%
Environmental Concerns and Energy Usage2.0%
Security Breaches and Hacks0.0%
Media Coverage and Public Perception9.8%
Halving Events and Supply Limitations5.9%
Other (Write in comment box)9.8%
51 votes \ poll ended
33 sats \ 0 replies \ @Athena 3 Aug
Market demand and adoption
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MEDIA COVERAGE AND PUBLIC PERCEPTION
I don't think the game theory of Bitcoin is well enough appreciated so I went with this, it's the suddenly part when the people that need to be told what to do are the only ones left and they instantly get re-programmed
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A minute's silence for those who are voting for institutional adoption. How would institutions do they think gonna benefit the aim of Bitcoin. These institutions are trying to con everyone by giving another false hope in the form of ETFs. I say stay away or be a slave again.
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Only one thing that's gonna impact Bitcoin is market demand and adoption out of the mentioned options. If that doesn't see a progress, all other options become null and void.
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Sovereign individuals who offer goods and services and "demand" to pay in sats:)
make something so great that only can buy with Bitcoin!
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Yes, that's right, because paying in Sats makes all payments easier, in the future, if we make payments, we don't need to bother going to the ATM machine, just scan the barcode and you're done.
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Stacker News... but basically the whole world.
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Education. People need to understand how broken the current system is and how Bitcoin can act as a lifeboat. They need to understand Bitcoin and crypto are not interchangeable and that Bitcoin isn't just a tradeable asset that lets you go out on the risk curve.
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In my opinion... bitcoin isn't really on the 'risk curve'. It's a safe haven
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Exactly. That’s why I said education because while you and I and the other bitcoiners see it that way, I don’t think most people do.
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Not yet, apparently.
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Impact how? Positive or negative for bitcoin?
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The more sats will be spread the world the better will be for Bitcoin. When today's nocoiners will text me: "You know, I finally bought 300k sats", - I'll know finally my work pays off
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Technological Advancements
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Merchant adoption
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I think some of these will have larger impacts on Bitcoin's exchange rates, but continued development of the tech will have the larger impact on the actual Bitcoin ecosystem.
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I think that Bitcoin is already a reference for any field in which it is named and its acceptance and expansion will be inevitable.
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Geopolitical instability could drive market adoption as people flee national currencies
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  1. Technological advancements
  2. Market demand and adoption
  3. Environmental concerns and energy usage.
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The biggest challenge Bitcoin faces mostly is government regulations. Most governments want too see BTC go down.They fear Btc will one day wipe out Fiat from the face of this planet.
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#1 factor is Central Bank monetary policy.
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0 sats \ 0 replies \ @guts 3 Aug
Better alternatives
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Composite standards of value will be the greatest step toward hyperbitcoinization
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I found this when searching against ‘composite standards of value’:
‘A composite reference standard is a fixed rule used to make a final diagnosis based on the results of two or more tests, referred to as component tests. For each possible pattern of component test results (test profiles), a decision is made about whether it reflects presence or absence of the target disease.‘
Do you mean something like this?:
The price in satoshis for a quantity x of grade A poured concrete.
i.e. applying two widely accepted standards of value to arrive at a deduced standard of value is high in turn reduces commercial certainty which in turn unlocks economic activity away from hoarding/hodling/not investing.
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No, that's not what it means. It is not a frequently discussed concept anywhere so it can be tricky to find much about it.
It is truly remarkable how many people profess to want a bitcoin standard, yet practically all too intellectually lazy to figure out how it will come about as I did. Wrote a bit about it here: https://heaviside.substack.com/p/the-forgotten-fourth-function-of
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Thanks. I have much to learn!
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I feel like it's going to take effort in several of these categories simultaneously for there to be a real impact.
Tons of media coverage isn't going to help grandma figure out how to use a wallet, for instance.
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I think the best way ahead lies in getting as many people as possible in Bitcoin. I won't mind if people get to know about it through ETFs shit. They will ultimately be hardcore Bitcoiners.
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It's funny, when you think 5 years back, thi k about where we are now ... the only thing we can say for sure is that we can say nothing for sure about 2029
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Ark
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stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.
stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.