American Nobel Prize laureate, economist, scientist and best-selling author Robert Shiller says that Bitcoin could disappear in 100 years - and the reason for this will be hard forks.
No one can really look 100 years into the future, but prominent economist Robert Shiller says that Bitcoin could very well follow the example of the West African black rhinoceros - that is, disappear.
According to a Yale University professor, hard forks will cause the liquidation of the founder of the cryptocurrency. Schiller told CNBC:
“In a hundred years, Bitcoin will not look the same as it does today. If it still exists, it will have a different name. Many hard forks will try to change it. And its very existence in a hundred years is a moot point.”
In fact, the number of Bitcoin forks has already exceeded 30, the most notable of them being Bitcoin Cash, Bitcoin Gold, Bitcoin Private. There are also a number of less remarkable forks, including such obsolete currencies as Bitcoin God, Bitcoin All, Bitcoin Smart. Meanwhile, many more forks are planned, including Anonymous Bitcoin.
One could easily argue that all these ramifications only harm Bitcoin. In fact, the civil war between Bitcoin and Bitcoin Cash - the fourth cryptocurrency by market capitalization - is still ongoing - and BCH is actively trying to claim the name Bitcoin for its cryptocurrency, and proposes to change the name of the very first digital currency to Bitcoin Core.
Added to the confusion is that recently a group of developers were inspired by the statements of Bitcoin Cash management team, and created their own currency called Bitcoin Core (BTCC). The development group claims that their cryptocurrency has real source code and is a p2p electronic currency.
Hard forks may not be the only reason why Bitcoin will disappear in a hundred years.
Shiller also said that the gold standard of cryptocurrency may sink into oblivion over time. He explained:
“One scenario could be a repeat of late 2013, when Bitcoin hit $1,000 and then fell 80%. It seemed like it just disappeared.”
According to bitcoinist
You May Also Like
It's okay, I'm falling! Or John McAfee on the Bitcoin bear market
The odious prophet of the cryptocurrency world, John McAfee, believes that the bearish trend in Bitcoin will not last more than a month. Now is the time to buy crypto and not panic.
French tobacco shops will sell bitcoin
French tobacco and lottery ticket stores that struck a deal with Keplerk will begin selling Bitcoin to customers in early 2019.
