Topic: Here's how mass adoption plays out in my opinion (Read 2898 times)
we seen that bitcoin to pass to 1000$ was impossible into 2013 and the markets will dictate the value of demand and suply but ok the 3000 for 2020 i can figure out as good
Damn I like the OP's estimated/projected price progression. If in reality we only get 1/2 or even 1/4 of his predicted price's I'd be a very happy man.
I feel like we're still so far away from $1000. Bitcoin hasn't raised in value that much this year as you are precidicting it will happen next year. I think we'll just have to wait and see what next year will bring, if you are correct about 2016 that's when I'll believe we can reach those numbers in the future.
Yes 2016 is the year for bitcoin is going to bring us many wonderful things. The halving would be a one of the reasons for that. Comparing to 2013 spikes, bitcoin is now in more stronger with more people are adopting it and using it for day to day life.
I guess one of those wonders already happened in 2015 itself.
Till halving, I too believe people will keep on buying bitcoins for their own reasons. It may extend after halving also. Because once the up wave gets triggered it would take more time to get settle down.
Yes the peak of $502 happened in sudden manner to shock many bitcoiners. I too believe this kind of sweet shocks will continue this December too may be till halving we can expect these kind of events. The price raise wave has no reason to settle down it will be keeping on bouncing even after halving.
I feel like we're still so far away from $1000. Bitcoin hasn't raised in value that much this year as you are precidicting it will happen next year. I think we'll just have to wait and see what next year will bring, if you are correct about 2016 that's when I'll believe we can reach those numbers in the future.
Yes 2016 is the year for bitcoin is going to bring us many wonderful things. The halving would be a one of the reasons for that. Comparing to 2013 spikes, bitcoin is now in more stronger with more people are adopting it and using it for day to day life.
I guess one of those wonders already happened in 2015 itself.
Till halving, I too believe people will keep on buying bitcoins for their own reasons. It may extend after halving also. Because once the up wave gets triggered it would take more time to get settle down.
I feel like we're still so far away from $1000. Bitcoin hasn't raised in value that much this year as you are precidicting it will happen next year. I think we'll just have to wait and see what next year will bring, if you are correct about 2016 that's when I'll believe we can reach those numbers in the future.
Yes 2016 is the year for bitcoin is going to bring us many wonderful things. The halving would be a one of the reasons for that. Comparing to 2013 spikes, bitcoin is now in more stronger with more people are adopting it and using it for day to day life.
I feel like we're still so far away from $1000. Bitcoin hasn't raised in value that much this year as you are precidicting it will happen next year. I think we'll just have to wait and see what next year will bring, if you are correct about 2016 that's when I'll believe we can reach those numbers in the future.
Looking at that often used chart showing the depreciation of the USD over many decades, I sometimes wonder if we'll see the reverse of that for BTC. I'll be long gone before that would occur if that were the timeline to consider.
Personally I don't see domination, but more something like Linux adoption (excluding Android which skews the statistics hugely).
Personally I don't see domination, but more something like Linux adoption (excluding Android which skews the statistics hugely).
I do agree with the general idea of your post but not the price estimations, I think the rise will be much slower but consistent rather than huge jumps of price, it all depends on how the market sees bitcoin and how fast the adoption actually works.
I don't think it's that easy Hector, but we'll see, maybe you're off by a few decades.
Let's if we even breach $600 in 2016
Let's if we even breach $600 in 2016
Boy that rant was hard to follow, but OK, we'll check back at each milestone.
Banks and financial institutions finally realize that the most robust and secure blockchain is the bitcoin blockchain and begin using it as the backbone of our financial system. SO this gives Bitcoin value as the token that rewards miners to secure the blockchain.
Once Bitcoin has a clear value and purpose, wealthy investors will start to park cash in Bitcoin as a store of value due to it's deflationary nature. Then more and more people will store money in Bitcoin as a replacement for gold.
Then merchants will start to want to make it easier for people to spend all of that money they have stored in Bitcoin so then the wave of merchant adoption will happen. Then once you can spend bitcoin almost anywhere, more and more people will start to use it as their currency. Then once the rest of the idiots who are still left see the ease of use of bitcoin and watch their fiat currencies inflating to them moon, the remaining people will switch over.
I predict that this entire cycle will take 20 years with many peaks and valleys in the price per bitcoin until then. With halving approaching and ALL of the banks now working very hard to learn about the blockchain and bitcoin right now the price looks ready to start a new bubble.
2016: $1,450.00 per bitcoin
2017: $2,200.00 per bitcoin
2020: $7,100.00 per bitcoin
2025: $45,000.00 per bitcoin
2030: $225,000.00 per bitcoin
2036: $1,700,000.00 per bitcoin
Once Bitcoin has a clear value and purpose, wealthy investors will start to park cash in Bitcoin as a store of value due to it's deflationary nature. Then more and more people will store money in Bitcoin as a replacement for gold.
Then merchants will start to want to make it easier for people to spend all of that money they have stored in Bitcoin so then the wave of merchant adoption will happen. Then once you can spend bitcoin almost anywhere, more and more people will start to use it as their currency. Then once the rest of the idiots who are still left see the ease of use of bitcoin and watch their fiat currencies inflating to them moon, the remaining people will switch over.
I predict that this entire cycle will take 20 years with many peaks and valleys in the price per bitcoin until then. With halving approaching and ALL of the banks now working very hard to learn about the blockchain and bitcoin right now the price looks ready to start a new bubble.
2016: $1,450.00 per bitcoin
2017: $2,200.00 per bitcoin
2020: $7,100.00 per bitcoin
2025: $45,000.00 per bitcoin
2030: $225,000.00 per bitcoin
2036: $1,700,000.00 per bitcoin
I don't understand how you imagine this figures you give but anyone can make such "predictions" which don't want nothing to be made. Only to write the first figures who come in mind. And everything is made. Not only the figures but even words. Writing words that may have "meaning" but are only words without any fact in which are based, can be made even from a boy 15 years old. Until the above are only discussion between friends there are nothing bad. maximum can be some laugh or some joke and everything will be closed there. But that pretending to give exact predictions in precise figures for things that, having in mind their nature and other factors, it is hard even to do actual analyses which can help to give short term predictions or better, opinions, mean, according to me, only desire to create a thread and to have the name on it as its author.
Anyhow I may have wrong and you right. Lets leave the time to verify the words of everyone of us.If we will be again here in bitcointalk and you will have right, put again this thread in the first page of this section and I will agree publicly that had wrong in doing this post and writing such words about your predictions and about you.
The market will always find its way. If the participants(user!) move over to bigger blocks, no one cares what the old chain remaining miners think. They will immediately switch over to bigger blocks, the moment they realize that they can't sell their coins on the exchange because of an not accepted blockchain.
In reality they have no power, because they have to obey to the market to stay profitable.
In reality they have no power, because they have to obey to the market to stay profitable.
You forget one problem for this mass adoption... It won't happen because bitcoin doesn't scale.
It is going to scale more than it should when the time for this comes, don't worry! Right at this moment, blocks are only half full. When they approach 80% of fulness, everybody will scramble to raise the block size limit, no worries. Nothing works better than fear in my opinion!
You forget one problem for this mass adoption... It won't happen because bitcoin doesn't scale.
https://en.bitcoin.it/wiki/Scalability
if you talk about the block limit issue, then it can scale easily by hard forking it each time is needed, or via an algorithm that does it for you, integrated in the client
You forget one problem for this mass adoption... It won't happen because bitcoin doesn't scale.
Is that why you bailed at $10? Are you "all in" when capacity doubles or quadruples?
You forget one problem for this mass adoption... It won't happen because bitcoin doesn't scale.
snip/ The Fed will likely raise interests very soon by a fraction of a percentage point just to signal that the system is not bricked.
Like the boy who cried wolf too often its getting harder to believe each time they say they 'might' raise rates.
Lets be realistic.
Bitcoin will be adopted, when its price stabilizes. The reason it is not adopted is because its price very unstable.
More adoption will cause the price of Bitcoin to skyrocket. This in turn will cause panic as people will think Bitcoin has become volatile again, or they may start to look at Bitcoin as a huge bubble. This will decrease the acceptance of the currency again and will in turn cause Bitcoin to crash all the way down to pennies and dimes.
The ideas many users are dreaming about on this forum are far-fetched and very unlikely to happen, that does not mean it WON'T happen...it's just very unlikely.
Very true, actually. As long as Bitcoin is purely p&d vehicle, as many Buffet-wannabies on this forum wish, there will be no broader market adoption. Bitcoin will be adopted, when its price stabilizes. The reason it is not adopted is because its price very unstable.
More adoption will cause the price of Bitcoin to skyrocket. This in turn will cause panic as people will think Bitcoin has become volatile again, or they may start to look at Bitcoin as a huge bubble. This will decrease the acceptance of the currency again and will in turn cause Bitcoin to crash all the way down to pennies and dimes.
The ideas many users are dreaming about on this forum are far-fetched and very unlikely to happen, that does not mean it WON'T happen...it's just very unlikely.
The average non-Bitcoin-literate Joe does not to play casino when it comes to his/her savings, grocery money, etc.
As long as Bitcoin stays in this vicious circle of pumping as quickly as possible on the speculative news this does not go anywhere.
The banks have been unable to push these negative interest rates to the customer yet but they actually exist (=they have to pay interest to the central banks for owning money) and it is hurting a lot of banks mid to long-term.
Sorry, my bank still paying me interest on my checking. Source for boldface?
Many Swiss and German banks have already introduced negative interest rates! Stories about this are all over the Internet.
I think that what these countries did is just a beginning! Soon enough other countries and other banks will follow the same model!
That is not currect!
In Germany it's only the Commerzbank as one of the giants.And they only have negative interest rates for big business accounts with high deposits.But not for private accounts. Two other small banks are WGZ Bank and Skatbank.But also only neg interest rates for business accounts.
Regarding Switzerland I have no idea.
The banks have been unable to push these negative interest rates to the customer yet but they actually exist (=they have to pay interest to the central banks for owning money) and it is hurting a lot of banks mid to long-term.
Sorry, my bank still paying me interest on my checking. Source for boldface?
Many Swiss and German banks have already introduced negative interest rates! Stories about this are all over the Internet.
I think that what these countries did is just a beginning! Soon enough other countries and other banks will follow the same model!
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