Topic: Bitcoins true potential - page 5. (Read 6512 times)

Exponential increases also require exponentially more money to reoccur. Say it took $200M to make the 2013 bubble. Now think about another 100x that.... That is a lot of eyeopening! Better start telling people now Unfortunately, much of the world has heard of Bitcoin by now (whether or not they actively pursued it or even took the time to learn about it). People are going to need a bigger threat to their money for Bitcoin to grow like that again. A slow steady rise is more likely than a 7 week rally to $61k. As more people become aware/threatened to seek alternative means of saving/purchasing, money will trickle in. This could take another 10 years or more. It really depends on how fast nations' govs can scare people out of their national fiats.

In 2012, the first halving took place. I never found out about it at the time, and I wish I did. One year later, the price went +$1050 up, which meant over 100x the 2012 price. Now we're looking at a $610/BTC price. The halving took place this year.. let's hope the history repeats once again. 100x$610 means.. $61k. Let's hope for the best!!!!

Most if not all merchants accepting Bitcoin use services like bitpay which in most of those cases, convert directly to USD. The coins are bought and sold so the net effect is zero (or close to it). What's even worse is that many people who are spending them are people that didn't buy recently or with the intention to spend them immediately so this group creates a downward pressure when spending. When I spend coins, I make sure to only spend coins that are well in profit

yes but they need an incentive to strat using it, and it's not speculation only, they need a very good reason to star using bitcoin en mass, and for now there is no kill app for bitcoin

True let us  say in my community, there are around 5,000 to 10,000 population but out of this population only 2 know bitcoin and I am the only one actively accumulating and spending bitcoin.  What if thiss 10,000 are actively using Bitcoin?  i bet this will bring more value to bitcoin that may bring more demand and thus increase in price.  So basically we haven't seen the true potential of bitcoin.

What i think is that very few people use bitcoin as compared to Fiat, So if more people started using the bitcoin it can increase its demand so much that it price can rise which we cannot imagine. Thats the true potential for bitcoins.

The bitcoin has potential high price to $ 2,000 per bitcoin in the next year . And therefore good to lay bitcoin while still relatively low prices . And the time to reach the price that many investors bitcoin will rejoice because they know they will earn big. So bitcoin have potential to reach that price of bitcoin.

The bitcoin is getting more popular. It is indicated by the daily transaction. It has increased steadily over the years.

im positively believe to that too mate as bitcoin already grown its popularity we will expect that the project will be speak to its own value bitcoin created as a currency and when the time came for more people to embrace the system bitcoin can be a huge assets.

it may takes decades,but also depend on how people are adopting the technology as you can see so many 3rd world country's people are still lack of technology even bitcoin could potentially helping their economy even a little,maybe because they can't afford to buy the following technologies so they lack of knowledge

Bitcoin has the growing potential compared to most other digital currencies that have got existed from the days of digital currency existence. Possibly over the falling years will experience a good rise.

I wish the same It should happen in future with grace of God. I wish bitcoin to become the world's best stock and who have the bitcoins they should be multi millionaire in future. USA should change currency to btc and they should accepts bitcoin as the national currency. This all happen because of the one word. The future money. BITCOIN:)

The price of bitcoin is basically demand and supply. If the majority of people start to embrace bitcoins, then bitcoin's price will shoot up. The scarcity is what makes bitcoin valuable after all. The idea of crypto-currency has an infinite potential, there are tons of things that can make use of bitcoins. We just don't have the population using bitcoin for it just yet

I am quite confident that bitcoin will slowly get mass adoption and price will sky rocket. But this may take few decades so better to hold whatever we can for our future or for our kids futures.

yeah but they need a reason to invest into it, and reason are better development for bitcoin core, and better exchange that do not let hacker go in like nothing, better trust and regulation will make people more willing to invest

I think the true potential is as much as people invest into it. The more people that invest the more potential is has but I can't predict how many people will invest.
So what I think is everybody with 10+ btc right now will be living very comfortably if bitcoin gets mass adopted. But if it doesn't it will just stay like this unstable currency.

yes it is a fact, actually bitcoin is not yet full introduce to people, most of the people have no idea about this that what is bitcoin and a lot of people even have not yet hear the name of bitcoin, therefore it will take decade to fully introduce among the people.

yes it is a fact, actually bitcoin is not yet full introduce to people, most of the people have no idea about this that what is bitcoin and a lot of people even have not yet hear the name of bitcoin, therefore it will take decade to fully introduce among the people.

I agree with this. With the next release of the Core Client with the block size increase, the price of bitcoin will rise further.

I don't know about the whole world, but america has an M2 money supply of roughly 13 trillion right now (12.8 ) and growing by 100 billion a month.

According to one source it's about 81 trillion. Which sounds about right.      

If you'd divide that by 21 million, that would mean $3,857,142.85 per bitcoin.        

If you divide that by the ~15.2 million bitcoin that are currently in circulation, that'd be $5,328,947.36 per bitcoin.      

Also keep in mind, and I have said this many times but it can't be said often enough. There's only ever going to be 21 million bitcoins, but there's over 7 billion humans in the world. Which means
 that everyone will only ever have less than 0.003 BTC (3 mBTC) bitcoin on average. If you hold any more than this, you'll be considered above average rich.      

But, the world population grows a lot, so actually it's even better. In 2035 it's expected we have a world population of about 8.6 billion, so the average amount of bitcoin people would have then would be about 0.00232 BTC or 2.32 mBTC per person.

You should really stop counting in BTC and start counting in mBTC or even µBTC because a mBTC would be about the entire networth of most people



it can, it just takes time.

they kept saying the same about the internet. The internet can't scale for images, the internet can't scale for moving images, the internet can't scale for HD video, the internet can't scale for streaming.    

And yet, here we are.