Will the cryptocurrency field exist and thrive for a long time?

Yes, we believe that cryptocurrency will exist for at least many more years. After all, it has been around for more than a decade, so it will exist for at least another decade.
My real thought is that cryptocurrency will accompany humanity forever.

We are not saying that Bitcoin (BTC) will grow forever, nor are we encouraging anyone to invest in it, because it is likely to be replaced by a new cryptocurrency.

This has happened many times:

The early IE browser was replaced by Google Chrome.
Sony’s Walkman was replaced by the iPod.
Steam engines were replaced by internal combustion engines.
Internal combustion engine cars are being replaced by electric cars.

BTC and ETH are software, internet products.

They have no inherent privilege and will not be preserved forever. When better designs emerge, they will definitely be replaced.

To be honest, they have many shortcomings: BTC is too scarce, so only a few people in the world own it; its transaction efficiency is very low, and it is troublesome to use, etc. Therefore, it is not impossible for it to be replaced by other cryptocurrencies.

But for the entire industry, I believe that cryptocurrency will exist for a long time and become part of human history. They represent the earliest form of the internet, even the form of social organization.

The earliest humans were decentralized, with no unified organization between tribes, until they were conquered by force to form countries.

As for the internet, the earliest internet was a protocol, and any computer that followed this protocol could join the internet, without a centralized computer. If we must say that DNS servers are centralized, indeed they are, but in fact, we do not need DNS to use the internet (many criminals and geeks have been doing this, remember the so-called dark web or onion network?).

That is to say, no one or organization can kick you off the internet. The internet is just a protocol, which is very similar to cryptocurrency itself. Cryptocurrency just adds a monetized internet protocol.

At the same time, we must also realize that there may be better protocols in the future.

For example, it is not necessary to use blockchain to achieve decentralization, because this form consumes a lot of resources and is very slow. Zero-knowledge proofs, which have become popular in recent years, or random-based decentralization schemes, are all possible alternatives. There is still a lot of room for innovation in the principles of decentralization. Blockchain is not the only option, maybe a team is brewing a better decentralization scheme to replace the slow blockchain.

Any technology has its own life cycle. Blockchain is nothing special, it is just a cleverly designed system that happened to achieve great success, but it is definitely not the only answer. I am very sure that with the development of computer hardware and human technological progress, there will be better solutions in the future. At that time, Bitcoin based on blockchain may come to the end of its life.

For example, we can boldly imagine that in the future, a new decentralized currency will appear, bound to everyone’s genes. You must survive to create this currency, it cannot be over-issued, nor can it be monopolized by a small group of people. This is equivalent to the exploitation of the majority by a minority. It should belong to every citizen fairly, and it can be tracked, of course, it can also be used as a quantitative tool for transactions. This is the true meaning of currency.

Currency should be a quantification of the social value of human individuals, not a lottery for the lucky ones.

For example, we can use a person’s genes to generate a unique address as their wallet address. Then this address adds a little money every day or every second as the basis for currency issuance. Then, we achieve decentralization through a randomly connected internet protocol, so there is no need to fully synchronize to the entire ledger. In short, this is mathematically feasible, but there is currently not enough funding for research. If everyone can easily connect to the internet, this scheme can be realized.

It sounds like what Sam Atlman is doing with $wld, he uses each person’s iris to correspond to a wallet address. But I doubt they can ultimately solve the problem of decentralization.

Another idea is not to use biometrics, but to use social relationship recognition, such as a person generating a wallet through relationships with parents, children, friends, etc., that is, a wallet based on social proof. Many routes have been tried, and I have no doubt that new schemes will appear.

But please note, decentralization has always been the main theme of this world. Because things were originally decentralized, centralization is a temporary product.

In conclusion, BTC will exist for a long time, but there is a possibility of being replaced by other decentralized products, so do not blindly believe, there is no truth here.

Dashpull’s philosophy

The right approach is always to take one step at a time.
At Dashpull, we trade BTC once a day, but do not hold it all the time, which is a reflection of our philosophy.