Re: The future of Bitcoin

For any of us who wonder what future hold for us, this is great source of information:

http://www.fastcompany.com/3051679/innovation-agents/the-future-of-bitcoin-isnt-bitcoin-its-bigger-than-that

The sad part is future will bring increase of interest not exclusively in bitcoin alone, but rather block chain technology.

I just truly believe that there isn't really any shot for these companies to implement a currency or payment service that can use the blockchain technology that bitcoin has, because there will be a need for them to mine and run nodes, which in all reality probably can't compete with the hash rate that bitcoin already has.

It just seems to me that because Bitcoin was the first one to create a public P2P network that anyone can verify at a given time, that it has created a niche that no one else can essentially copy; instead they would have to use bitcoin themselves in order to use a blockchain based currency.

While bitcoin was the first the code is open source so it is easy for third parties to re-use or implement it in their own system.
Sure bitcoin deserves the credits but as stated there are very wealthy companies who can make it much bigger.

Well I guess we would have to agree and disagree. There is just no way in my mind for a company to use this kind of block chain technology for its own purpose only and be working smoothly with no problems. I think the only crypto who is close to this kind of thing would be ethereum and ripple for being sort of adopted in their block chain tech, which was adopted by Microsoft. Microsoft has made some pretty bad investment choices in the past, so this could be one of them too, even though the Azure cloud data base is still looking pretty promising, even without the block chain backing it and verifying it along the way.