No, Bitcoin isn't the future
<
(2 of 2)
Bitcoin will be replaced by new technology
In the fast-paced world of cryptocurrency and financial technology, it is only a matter of time before Bitcoin becomes obsolete.
<
(3 of 3)
Context
The world of digital currencies and financial technology is at a particularly critical juncture. New technologies are being developed every month. Most fail, but all it takes it one to rocket to render previous technologies obsolete.
The Argument
With Facebook’s announcement that it is considering developing a cryptocurrency of its own (the Libra) and a number of high-profile backers, the future of Bitcoin has looked increasingly unstable. [1]
In the world of financial technology and digital currencies, nothing lasts. It is highly likely that Bitcoin will soon be replaced by something novel and exciting. If cryptocurrencies take off in substantial numbers, there could even be new monetary models that emerge, including a cryptocurrency backed by a central bank. There is no indication that Bitcoin has been made to last.
Counter arguments
Proponents
Premises
[P1] The world of cryptocurrency moves too quickly for any single currency to remain dominant for long.
[P2] Therefore, Bitcoin will not last as a durable, credible currency.