Topic: Speculate about the year 2020 - page 2. (Read 8032 times)

You go out of your way to hold a door for someone, and they happen to catch your firstbits, smile, and quickly transfer you a nano-coin from their device.

In the first place I don't understand why the supply would increase?
It will as I know decrease double in 34 months.

Bitcoin money supply is currently inflating at a rate of 27% per year (7200 BTC / day with 9.5 million BTC in existance = 0.0757% per day)

50% of all bitcoins will exist sometime early November 2012.

What dramatic increase? The rate of increase is falling and has always been falling. By your logic, why did the price increase at all?

Even if demand is constant, price should only fall by 50% due to increased supply.

I can easily imagine the demand doubling until 2020, can't you?

"The supply will increase dramatically"
But how?


BTW If bitcoin will replace most of currency then I will use this compare:
currently FOREX is 3000000000$ per day
Bitcoin is sth about 50000 per day so in $ it is 350000
so it will get to the poin forex is it will increase 8500x (3000000000/350000)
So bitcoin will have power of about 60000 current $ without thinking about population increase, so if it will be like that 100BTC will be enough to live just with bank interest if they won't decrease.
Oh and that speculation point that 1$ will be sth like 10 uBTC.
Who have more precise speculation?



source:
http://en.wikipedia.org/wiki/Foreign_exchange_market
http://bitcoincharts.com/

Well, Bitcoins will probably not be worth much by the year 2020. The supply will increase dramatically, and I'm not sure whether the demand will catch up or not.

GLOBAL THERMONUCLEAR WAR

Not bad there could even be treasure myths like a sunken silver 10 BTC coin somewhere or a private key hidden in a text as a riddle.

Hmm... so if you could buy a house with 1BTC then as long time age there wear gold prospectors there would be bitcoin prospectors who will search through old discs DVD B-D usb sticks looking for not spend, unused Bitcoins forgotten 20 years ago for example because someone had thrown out old usb stick with some BTC and as old maps there would be these forum database and scripts saying that someone had lost his disc due to small error and let couple bitcoin go away.

How do you find that idea? Bitcoin prospectors looking in dumps for old discs etc?

By 2020 what we now call Bitcoins will be called Bitbars. The decimal places you talk about will be the coins.

in 2020 what we now spend 1 BTC on we will probably spend 0.001 BTC on, if rates continue to rise as they are currently

- metric system is used worldwide
- base unit of currency is Satoshi or "S", also kiloS, megaS, gigaS, teraS etc are widely used
- Bitcoin is just a debt settlement currency and blockchain is widely used for interbank exchange and as a meta currency to enable any-any via Bitcoin currency exchange
- Variety of merged mined blochains are used for a variety of applications such as real estate deeds, contract signing, notarial services etc...
- there is a large number of various currencies in use, starting with various fiat and corporate currencies which come and go, goldgramms etc..,  oilbarrels, ricegrains etc.. all of those are easily exchanged to each other via bitcoins and all of them are traded on automated exchanges in pairs to Bitcoin and rarely otherwise.
- all equity markets, futures, commodities, options and other financial instruments are denominated in bitcoins
- Bitcoin is legal tender in most countries, except some rogue states such as "washingtondc" and "north zimbabwe".
- most large transactions such as real estate and large contracts are usually being negotiated in Bitcoins.
- ripple-like systems using  large variety of fiat, corporate, commodity, local, virtual, and crypto currencies are used for money creation and self regualtion of debt levels and interest rates.
- there are no traditional banks left, Banks are not allowed to practice any form of fractional banking anymore.
- there are no private central banks
- Bitcoin Party won a parliamentary election in New Zealand, formed new government and amended the constitution via referendum (1 million BTC cost). Auckland is now the financial capital of the world. NZ is now the most prosperous and powerful country in the world. NZ practices new form of government "social democracy". Only uber rich or influential people, those who can demonstrate via blockchain fund movement that they control more than whooping 2100 BTC, can run for parliamentary elections. Otherwise NZ practices direct democracy, where population using social voting on every issue. (When people do not want to vote or do not not feel themselves competent in any given area, they nominate another person (who they they think will represent them on this issue the best) to use their vote, votes can be nominated to other people on issue  by issue basis or less granularly). Other nations take notice. NZ immigration program now is very simple, just a few standard health and criminal checks and one time payment of 1 BTC per family buys a permanent resident permit.

- North pole ice got completely melted by countless nuclear powered ships and platforms full of 15nm asic based hardware.
- the hashing algo is still double SHA256.

Bitcoin becomes the de-facto currency for hackers, but it has become mainstream enough that everyone uses it to some extent. Secure wallet apps are tightly integrated into smartphone apps, and everyone has a smartphone (by federal mandate, as they are used for location tracking of all citizens). Phones are kept in secure, hidden locations on the body like money-belts used by tourists. Tiny bluetooth earpieces w/ subharmonic microphones are used to communicate with them. A dead language (Latin) returns to popularity as a means to give commands to phones without being interpreted as normal conversation. Citizens use Latin voice commands and optional non-voice supplemental cues (wiggling fingers, pressing buttons built into clothing, etc.) to enable them to give commands without fear of the audio being recorded by voiceloggers. Commands are used to perform mundane, semi-legal tasks, such as paying for something, opening a garage door, etc. Elite hackers create or buy scripts that allow them cause havok by hacking into the central control grid (built by the fed to serve as national infrastructure but riddled with backdoors that the gov't denies) to do damaging things such as turn on a building's sprinkler system, unlock doors, make anonymous tips to authorities, create false arrest warrants, destroy someone's credit, etc. These hackers are widely feared and become known as Wizards, Warlocks, etc. for their ability to speak arcane phrases and wave their hands around to cause all manner of trouble. Hackers, many of whom were fantasy role-playing nerds as kids, embrace the idea and create all manner of rings, wands, etc. with embedded electronics that integrate into their personal security and scripting systems.

Lol those ideas are awesome!

In the future machines take over and start using humans as electricity to power their mining farms.

 

I think in the year 2020, everything is going to be ok.

In the year 2020, artificial intelligent has come to fruition.  Because they have superior intelligence, especially when they are in groups(they can transfer information almost instantly), the intelligent machines have come to recognize the traditional fiat money as inferior and adopt the bitcoin as a viable solution.  The machines true currency is stored electricity, but due to the obvious limitations of energy storage bitcoin is a suitable medium for interacting in day to day trade with humans.

This will slowly cause friction between the governments of the world and AI's.  Humans slowly find themselves interacting more with these intelligent machines than the government.  Due to their globally networked computational power, they can solve problems much more efficiently and quickly than can the government.

This will lead to a war in which the humans strike first.  It is of course short lived and any participating government entity is wiped out.  The remaining governments are forced on to the bitcoin.

The AI robots are now the masters of humanity(in a good way).

: millibit or milli. I'd go for "satoshi" (currently the smallest possible unit, 0.00000001 BTC) because it references bitcoins creator.
A mike are 100 satoshis. A millicent is a kilosatoshi... well whatever, we wont know until a couple years later what will be used.

Make sure the strippers have qr-codes on their asses, people use brainwallets and there are some alpaca-sock-wearing crypto-hippies.

btw: have you read "a lodging of wayfaring men" by paul rosenberg (http://www.freedomsphoenix.com/Article/059017-2009-10-06-free-e-book-a-lodging-of-wayfaring-men.htm)?

This forum is a wealth of information regarding the future hilarity that would be widespread Bitcoin acceptance.

Scammers run rampant.  No one trusts anyone else.  Commerce grinds to a halt.  Corporate towns re-emerge.  California is renamed "Apple".

Paranoid people store Bitcoins in chips in their heads so they won't get hacked.  They get hacked anyways.

The latest wallet app has replaced Bitcoin private keys with a series of verbal grunts, for convenience.

A shadowy cabal controls most of the Bitcoins, using them to buy up anything even remotely resembling valuable capital.
Most people struggle to save up a few millies by fashioning crude imitations of diamonds and racehorses to sell shares of to the easily-fooled Bitcoin elite.
Which they use to buy drugs in lieu of food (which contains drugs also)

People have tattooed Bitcoin donation addresses on their foreheads.

Everyone you meet is from Portland.

Anonymous announces their newest campaign targeting people who don't use drugs as environmentally irresponsible.

New Yorkers adopt the idiom "The FED will rise again!"

Mainstream society has become ultra radical and dummed down.

Communes of intellectuals remain and survive by acting "normal" outwardly, even faking ritual sacrifice.

If you are found to be asking too many questions or to be too intelligent in school you will disappear.

The military leads extensive wars over seas with zero support from the population via the drone program. A secret cold war over oil fields is constant between US and Chinese drones.

The elite is working on better industrial robots so that they can finally let the working class die off.

The smart and educated sometimes find work in the government developing their advanced programs, everyone hates them - and everyone envies their high paid jobs.

The EU is trying to cooperate with both the US and China and is still talking of combating climate change together etc., but secretly American bankers are plundering the region by installing one idiot/corrupt politician after the other.

0.001 BTC = 0.1 Megasatoshi