Topic: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! (Read 285 times)

Here’s Vitalik Buterin giving his long term outlook for BTC and LTC/other alts, which he thinks will likely go up in value long-term by at least the amount that world GDP increases - in a fascinating 4 minute video answer to a question from Felix, courtesy of ThomasJulianMiller:
https://youtu.be/VosfxChTxVg

And what is the prediction for the rate of increase in world GDP in the long-term. Here’s a comprehensive PwC report that predicts the world GDP will increase 130% by 2050, from its 2016 levels:
https://www.pwc.com/gx/en/issues/economy/the-world-in-2050.html

So taking BTC’s price at end-2016 of $950, and assuming Buterin is right that it’s price will rise at the rate of world GDP - then the projected BTC price in 2050 would be $123,500 ($950 x 130)! That’s a 13,000% increase on the $950 2016 price, and a nice 1,280% increase on today’s $9,640 price!  And I’m sure all of us who are in the first 0.5% of the world’s early adopters of Bitcoin and crypto would love to see a price like that for BTC in 2050, which is only 22 years away!

But there’s more! The price of BTC and the successful alts should also increase by at least one more multiple, as use of BTC and alts and investment in them penetrates 10% or more of the world population - as is likely to have happened by then especially in the E7 nations. So a BTC price of $1,000,000 or more by 2050 ($124K*10=$1.24M) is not an unreasonable prediction, factoring in world growth plus BTC’s organic growth - and that $1M price would be a whopping 105,250% increase on the 2016 price, and a very nice 10,375% increase on today’s BTC price!

And if Buterin’s well-reasoned prediction for the long term survival and growth of BTC and crypto pans out then when we’re finally able to look back at crypto prices with 20-year charts in 2050, we may well see that the crash now in prices even if they were to fall 90% from the Dec/Jan highs will look very similar to what are now only tiny blimps down in the early prices of Amazon and Apple in 2000 with the Dotcom crash as shown in the linked graphic - but which at the time in 2000 were massive 90% falls in the Amazon and Apple share prices, that very few people thought these companies could survive and recover from let alone make 50,000% gains in the 20 years to follow!
https://imgur.com/a/CurnU

Hindsight is a wonderful thing of course, for those of us who missed investing in the centralised companies monopolising and profiting from the Internet 2.0 - but Vitalik Buterin is a smart man who some call the genius of our age, and his potential foresight on where crypto stands and where it’s going shouldn’t be taken lightly. Hmmm getting in early this time on decentralised currency and the decentralised blockchain based Internet 3.0 anyone - food for thought! So ....

1. What do people think of Vitalik’s interesting answer here, and his long-term prediction and reasoning for BTC and altcoins survival and growth in value?
2. Do you agree a BTC price of $100k by 2050 is a reasonable expectation based just on world GDP growth, and that a price of $1M by 2050 is quite possible with world GDP growth plus 10% BTC organic growth/adoption?
3. Do you think LTC as mentioned by Buterin and other altcoins that survive and prosper will see similar gains of 13,000% by 2050 with just world GDP growth, or that they too may grow up to 100,000% by then with 10% organic growth/adoption thrown in as well?
4. Do these predictions help give you strong hands to hodl your BTC and favourite altcoins, and to buy more as the crypto market bottoms and sooner or later turns up to make new highs on its roller coaster long term ride? Just imagine if those Amazon and Apple charts are Bitcoins and the surviving successful altcoins charts in 20 years time - there may not be enough Lambos!!

We see that there is no stability in the cryptocurrency.The price can be unpredictable.But I don't think it can jump that much.

Here’s Vitalik Buterin giving his long term outlook for BTC and LTC/other alts, which he thinks will likely go up in value long-term by at least the amount that world GDP increases - in a fascinating 4 minute video answer to a question from Felix, courtesy of ThomasJulianMiller:
https://youtu.be/VosfxChTxVg

And what is the prediction for the rate of increase in world GDP in the long-term. Here’s a comprehensive PwC report that predicts the world GDP will increase 130% by 2050, from its 2016 levels:
https://www.pwc.com/gx/en/issues/economy/the-world-in-2050.html

So taking BTC’s price at end-2016 of $950, and assuming Buterin is right that it’s price will rise at the rate of world GDP - then the projected BTC price in 2050 would be $123,500 ($950 x 130)! That’s a 13,000% increase on the $950 2016 price, and a nice 1,280% increase on today’s $9,640 price!  And I’m sure all of us who are in the first 0.5% of the world’s early adopters of Bitcoin and crypto would love to see a price like that for BTC in 2050, which is only 22 years away!

But there’s more! The price of BTC and the successful alts should also increase by at least one more multiple, as use of BTC and alts and investment in them penetrates 10% or more of the world population - as is likely to have happened by then especially in the E7 nations. So a BTC price of $1,000,000 or more by 2050 ($124K*10=$1.24M) is not an unreasonable prediction, factoring in world growth plus BTC’s organic growth - and that $1M price would be a whopping 105,250% increase on the 2016 price, and a very nice 10,375% increase on today’s BTC price!

And if Buterin’s well-reasoned prediction for the long term survival and growth of BTC and crypto pans out then when we’re finally able to look back at crypto prices with 20-year charts in 2050, we may well see that the crash now in prices even if they were to fall 90% from the Dec/Jan highs will look very similar to what are now only tiny blimps down in the early prices of Amazon and Apple in 2000 with the Dotcom crash as shown in the linked graphic - but which at the time in 2000 were massive 90% falls in the Amazon and Apple share prices, that very few people thought these companies could survive and recover from let alone make 50,000% gains in the 20 years to follow!
https://imgur.com/a/CurnU

Hindsight is a wonderful thing of course, for those of us who missed investing in the centralised companies monopolising and profiting from the Internet 2.0 - but Vitalik Buterin is a smart man who some call the genius of our age, and his potential foresight on where crypto stands and where it’s going shouldn’t be taken lightly. Hmmm getting in early this time on decentralised currency and the decentralised blockchain based Internet 3.0 anyone - food for thought! So ....

1. What do people think of Vitalik’s interesting answer here, and his long-term prediction and reasoning for BTC and altcoins survival and growth in value?
2. Do you agree a BTC price of $100k by 2050 is a reasonable expectation based just on world GDP growth, and that a price of $1M by 2050 is quite possible with world GDP growth plus 10% BTC organic growth/adoption?
3. Do you think LTC as mentioned by Buterin and other altcoins that survive and prosper will see similar gains of 13,000% by 2050 with just world GDP growth, or that they too may grow up to 100,000% by then with 10% organic growth/adoption thrown in as well?
4. Do these predictions help give you strong hands to hodl your BTC and favourite altcoins, and to buy more as the crypto market bottoms and sooner or later turns up to make new highs on its roller coaster long term ride? Just imagine if those Amazon and Apple charts are Bitcoins and the surviving successful altcoins charts in 20 years time - there may not be enough Lambos!!

It's strange that Vitalik would paint such a rosy picture for Bitcoin's future. Isn't Ethereum supposed to be superior in pretty much every way? If so, he should predict bitcoin to be close to zero, whilst ETH would be closer than $1m. Doesn't seem like he has much faith in his coin.

Isn't Ethereum supposed to be superior in pretty much every way? If so, he should predict bitcoin to be close to zero, whilst ETH would be closer than $1m. Doesn't seem like he has much faith in his coin.

1. What do people think of Vitalik’s interesting answer here, and his long-term prediction and reasoning for BTC and altcoins survival and growth in value?

2. Do you agree a BTC price of $100k by 2050 is a reasonable expectation based just on world GDP growth, and that a price of $1M by 2050 is quite possible with world GDP growth plus 10% BTC organic growth/adoption?

1. What do people think of Vitalik’s interesting answer here, and his long-term prediction and reasoning for BTC and altcoins survival and growth in

It's only a prediction you don't have to believe in what everybody says here. This can be a good estimation but after the 13,000% typo the prediction seems inaccurate imo.

Another typo. 22 years from now is 2040. The prediction feels a bit rushed with some of these typos.

Maybe OP had a different perspective with the numbers. A 1% increase in the world GDP is equal to a 100% increase to bitcoin's price.