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?
Bitcoin can be a store of value but it can't be the Crypto currency that is used in the future for daily transactions as it takes a lot of time for a bitcoins transaction to get completed with a decent amount of fees and if someone accidentally set low fees then it will take a lot of time for the transaction to settle and no one wants to transact with a slow currency, I believe with a few improvements like the lightening network bitcoins can become what you are saying.