Theory
Cryptocurrency is an alternative financial instrument. The first coin, Bitcoin (BTC), was launched in 2009. Cryptocurrency is mined by miners. Approximately every four years, the rate at which Bitcoin flows into the market is halved due to halving. The next time the event will take place will be in the spring of 2024.
It is important to clarify that Bitcoin issuance is limited. A total of 21 million coins will be issued. Therefore, sooner or later, mining will be stopped. According to the calculations of participants in the cryptocommunity, all bitcoins will be mined, approximately, by 2140. After that, miners will continue to earn on commissions for transfers in the network.
Bitcoin's viability, to a large extent, depends on the actions of regulators. In 2023, the crypto industry was hit by the US Securities and Exchange Commission (SEC). What other claims of regulators the market will face and how they will affect its viability - no one knows.
There is one more problem. Despite the decentralized nature, which, according to the idea of the creator of BTC - Satoshi Nakamoto - should make the network of the coin independent, the project still came under pressure from the traditional financial market. This, among other things, is evidenced by the correlation of cryptocurrencies with the stock market.
The survey refers to a distance of 200 years. Taking into account the trend towards digitalization of the payments market and moving away from physical money, it can be assumed that digital assets will be in trend. At the same time, we should not forget the dislike of regulators in many countries for anonymous cryptocurrencies, which they are trying to supplant at the expense of central bank digital currencies (CBDC), which are fully controlled by the authorities.
Opinions
Now we move on to the opinions of crypto community members on what will happen to Bitcoin in 2223. Here are the popular answers:
- Bitcoin will continue to exist, but will perform other functions. Time will determine which ones.
- Decentralized nature will protect Bitcoin from extinction. Bitcoin's strength lies in its code.
- Bitcoin will continue to exist if internet technology is still in demand in the world 200 years from now.
- Bitcoin will continue to exist, but the cryptocurrency will only be available to a privileged class.
- Bitcoin will probably continue to exist, but cryptocurrency will be pushed out of first place.
Respondents who are confident in the strength of Bitcoin explain their viewpoint with the advantages of cryptocurrencies over obsolete fiat money.
At the same time, there are members of the cryptocommunity who do not see the future of Bitcoin. They explain their point of view by the probable shift of the development focus to other, technologically more advanced financial instruments. There were also several opinions, the authors of which believe that neither Bitcoin nor the planet itself will be able to last so long.