When I say ideal I mean:
- People cannot born them from blown air and some day they will not be able to earn from coinbase's rewards.
- Over time, it will still have value.
- It cannot be spoiled by human.
- It is decentralized, no one controls it.
- You can send/receive the currency really quickly.
These are some basics requirements for the
ideal currency. But I have a question. There are public and private keys out there. You can take anyone's public key and send him/her bitcoins. In the future, like 2100, you understand that technology is advancing. Those years I believe that brute forcing a private key will not be something impossible. Do you think that bitcoin will be spoiled by human in the future?
Should bitcoin use SHA512? Or something even stronger?
Even though Bitcoin has established qualities that paid off and continuously paying off, to set it as an ideal currency in the future might be a too ambitious. We are aware that Bitcoin is something digital and something out there waiting to be mined. We are also aware that not every country and not every individual in that country can afford to have Bitcoin, more or less use it and put it into action. Poor families and third world countries are actually relying more on easy, fast, and convenient money to have. Even though Bitcoin promises a huge amount of money, people would still go with fiat to buy rice on a simple store.