What Will Bitcoin Look Like in Twenty Years?

Bitcoin was launched into action nearly a decade ago at the hands of anonymous Satoshi Nakamoto. While nobody knows who created Bitcoin; some speculators feel strongly about potential identities, it’s safe to say that nobody knows the true identity of Nakamoto except for Nakamoto himself.
Nakamoto’s creation marked the first time a true, secure, anonymous digital currency had been created. As a result, Bitcoin is inarguably the father of all cryptocurrencies and has received a level of press equal to that title, especially over the last few years. After peaking this winter — many are asking though — what happens next?
What is Bitcoin good for?
Let’s start with the basics. Currencies are used as stores of value and vehicles to exchange such value; they don’t have any inherent value, though — the world simply agrees on how much they’re worth. These stores and transfers of value should be able to be easily transferred to other people and businesses.
Bitcoin, oddly enough, takes hours in most cases to transfer to those on the receiving end of transactions involving Bitcoin. Currencies, by definition, are easy to use; it makes no sense for Bitcoin to be classified as a currency despite it not being able to be used as a normal currency.
People also purchase Bitcoin and other cryptocurrencies in hopes of riding market swings upwards and selling them to make a quick buck. Cryptocurrencies are effectively investments and currencies; how one defines a cryptocurrency depends on how that particular unit of that particular cryptocurrency is being used.
What happens next?
It’s not too difficult to sense what Bitcoin is about in today’s world. But what will Bitcoin be like in 20 years? At some point within the next 20 years, the worldwide cryptocurrency market will fall off out of seemingly nowhere, resulting in the crash of every single cryptocurrency out there. While it may crash though — it’s also bound to bounce back making it an amazing investment opportunity if people invest the right way.
Some people believe that a bubble burst would be bad for cryptocurrencies, though it’s not going to be anything but a sign of healthiness in the long run. Nobody knows if Bitcoin will stick around though because of its obvious flaws. Even though it was initially designed to be anonymous, people have found ways around such anonymity protections; further, while blockchain technology will serve as a great contribution to future society, Bitcoin’s slow transaction time is likely to leave it prone to widespread disadvantages in comparison to the future’s hottest digital currencies. In the interim though, it’s important to play your investments right.
