Topic: [2017-08-17] Each Bitcoin Could Be Worth $619,047 In 10 Years (Read 5179 times)

How many coins do you have in your wallet. I have only around 100 mBTC? And if the rates increase, it will get progressively more difficult to earn Bitcoins. The signature campaigns will either close down or reduce the  payouts.

Of course, mining ASIC manufacturers are very interested in this issue, and frequently innovate their chip design and use more advanced lithography process nodes to achieve exactly what you're asking for.

But my question is: why?


They're (miners) are paying for their electricity like anyone else. There are several reasons why Bitcoin mining consuming electricity is both necessary and a good thing, Satoshi's whole original idea is based around the hashcash concept of "proof-of-work".

One could argue that proof of work (PoW) forms the commodity backing for the Bitcoin currency, countering a common criticism that Bitcoin needs a commodity to back it's value (in this way you could say it's backed by either hashpower, or watts/joules). More importantly, the hashing provides a vital part of the Bitcoin network's security, and hence Bitcoin's fundamental value proposition.

The SEC is just a joke. They try to act like a hero figure to "protect" investors against Bitcoin's unregulated nature, but yet they have failed to protect investors in cases of failed ETF's, where investors lost millions and millions. Where is the SEC when you really need them? The SolidX ETF had even an insurance policy running that would insure fund holdings up to $125M, and yet this isn't enough. I seriously don't know what is needed to make the SEC approve at least one ETF. Regarding the Winklevoss ETF review - I am waiting for any sort of announcement as well. I can't think of any reason why they would be stretching things out this far.

Of all the things about Bitcoin, I don't understand why nobody find a way for mining not to consume that much power. I mean, are we not in Bitcoin one of the most innovative people around? If mining can consume less power then more and more people from different countries would be interested to venture with the business and we can all avoid concentration of power and influence in a few countries.

$619,047 in 10 Years?? what a weird number and it is surely come from an "experimented" model, which does not make sense. In 10 years I hope it will go to 1 million, then I can retire, lol.

Essentially, the value in the best possible scenario could rise to any price level if all conditions are perfect.

However, we must remain realistic, and above of all, patiently wait for everything to build up in a steady manner. I don't understand why people always look for things to happen in such a short period of time.

If we at some point have enough ways for institutional capital to flow into Bitcoin, the price will adapt to the freshly increased demand. Again, patience is what we need.

For now, we should not expect much financial instruments to pop up with the SEC blocking everything due to (according to them) Bitcoin's unregulated nature. Btw... is there any news regarding the WV ETF?

Of course, that would mean that I'll become a millionaire in less than 10 years without even lifting a finger but we should think about the cost of having bitcoin. if we could use the electricity consumed in mining on something else to earn more in the long term.
You know if we could find a way to mine bitcoin with the same hash rates but at least with 70% less power consumption that would be something.

Cryptocurrency is the word which first comes to mind when talking about exotic investments. The question is: Is this really an exotic investment and how do we even define an exotic investment? The exotic investment brings up the memories of the great Tulip Mania in Holland, which died in 1637. Speculators paraded against the first stock back in the 1600s and here we are today looking at something that is bigger than that. Since the birth of Bitcoin in 2009 for half a cent, the price has hit the high of $4,477.

Worried about the crash? Learn from NASDAQ

The general consensus among the investment community is that the price is in a mammoth bubble territory and it would crash. After all, we have witnessed a number of crashes in the equity market since its birth. The NASDAQ, the blue-chip index, experienced a massive crash on the back of the tech bubble when it fell by 78% in the 30 months ending 2002

The market has not only recovered from that level in the preceding years but it has made record highs, and to date, it is up nearly 26%. Just to put things in perspective, the NASDAQ index is up 486% from its tech crash low. For every trader, the NASDAQ tech crash became the child poster case study for graduate school but the reality is that crashes do take place all the time and in all markets.

Why Crypto Is Here To Stay

Virtually every country in the world is after cryptocurrency. For illustrative purpose, there is more global audience force of attraction behind Bitcoin as compared to the largest stock market in the world, US.

There is a limited supply and the currency simply cannot be counterfeited. It is more than perfect for the new technological world. Consumers are shopping more on the internet and Bitcoin is competing with other currencies in this space. Given its massive popularity and availability across all continents, internet entrepreneurs are launching more products focused specifically on these markets. Consumers are switching from fiat money and banks to Bitcoin and this would only increase the demand. Volatility is High but Not for Long There is no denying that excessive up and down swings in Bitcoin is creating a lot of stir amid traders. Speculators are constantly moving in and out of their trades and this is one of the primary reasons that keep the volatility anchored. However, when you look at the recent price action, the price curve looks immensely anchored and this is primarily due to the capital inflow from Korea and Japan. In May 2017, the New York Agreement was declared with the intention to tackle the technical and political roadmap governance affairs. Australia is also set to regulate the virtual currency exchanges and this would result in more transparency and power for the Australian Financial Intelligence Agency.

Over time, we are going to get more products such as futures, ETF, options due to high demand and that would make the price more stable.

Important Events To Look Out

For this month, we are up nearly 64% and the race towards the 5000 mark is on. Potentially there are two important events that you want to keep a close eye on. Firstly, on the 22nd of August SegWit, the technological innovation would be put to test to carry out the first real world Bitcoin SegWit transaction. If all goes according to the plan, it would spur more confidence and it is more likely to attract new capital. On November 22, it will be nearly three months that SegWit will be activated and the New York Agreement road map has planned a Bitcoin hard fork which would result in double the block size.

https://www.forbes.com/sites/naeemaslam/2017/08/18/each-bitcoin-could-be-worth-619047-in-10-years/#34e26ef65168