Topic: Future of Bitcoin - page 2. (Read 3797 times)

Try here:

https://www.bridgewalkerapp.com/

In Japan they just wave their phone at stuff and they've bought it.  That'll be world-wide pretty soon.  And Bridgewalker makes that happen right now in bitcoin, for anyone with an android phone.

I ment at the moment sorry for the confusion. but year your right the atm is a massive step.

I think it's a powerful combo of dozens of different things, the ATM is a key player but not the only one or most important one IMHO.

Current solution aren't good enough for "Gavin's mom".
Gavin mom will need to use a bank. A more transparent and competitive bank, but a bank.


Physical bitcoins / printed currency backed by Bitcoin.
Governments can hold BTC in their vaults and issue paper money, and act as a 1:1 or 1:X reserve system.
Like money was backed by Gold once, it will be backed by Bitcoin.

In the future electronic systems will be more prevalent and this will not be any issue.


+1. $1000 in 2013-2014.

I think the Bitcoin ATM is the turning-point technology. In my opinion the biggest hurdle for mainstream use is the steps needed in obtaining bitcoin in the first place.

Bitcoin will be finding its feet over the next 12 months. I know of a few massive things being built for bitcoin ATM that will bring in millions of users. I cant say anything now because i don't want to give the idea's away before they are up and running.
I see bitcoin hitting the $1000. mark in the not to distant future.

I'm missing the local part of the story.
Clearly Bitcoin is not ready for small ad-hoc purchases (such as a visit to the market).
What do you think will complement that aspect of local trade?

I don't think step 6 is going far. There isn't any good reason to put BTC in a bank. Once people start treating BTC like current fiat and using banks that loan it back out with 'fractional reserves' we will have accomplished nothing.

Insured accounts? haha bank accounts in fiat are 'insured' now.

A friend of mine asked me where I think Bitcoin is headed.
I am planning to give a talk about this on the next Israeli Bitcoin Meetup, so I thought I might start gathering my thoughts on a new thread anyway.

TL;DR of the future I believe in, with high probability:

1. Governments keeps pulling shit off like the Cyprus bank crisis.
2. More and more people, wealthy and mid class, learn about Bitcoin and its "promise of salvation from banks". They will not all understand its depth, but they will see more people they trust turn to Bitcoin, and thus will turn to Bitcoin.
3. Eventually it won't be considered a risky investment, but rather a sensible part of every portfolio.
4. Infrastructure will get a lot better, including core Bitcoin and other layers on top of it such as [http://ripple.com/]Ripple[/url].
5. Every major business accepts Bitcoins.
6. Large financial bodies will start insuring Bitcoin companies ... people would be able to deposit BTC in a "bank", and not worry about hakers (like they don't worry much about hackers today).
7. Eventually (this might take 20-30 years), Fiat will just fade away. Future generations won't understand why we even needed so many currencies to begin with. Bitcoin will become the global currency.

The details might turn out a bit different (e.g. the winning currency might not be just Bitcoin, but some combination of Bitcoin and an alt, or perhaps just an alt) ... perhaps something entirely new will come and change (improve) things so much that Bitcoin will only be considered a stepping stone towards that new thing. But the gist will be the same.