Tell me your predictions about Bitcoin - page 156.

ReigningDollars

newbie

Activity: 3

Merit: 0

Quote from: bachlovesstories on July 04, 2015, 08:23:28 AM

What is the obstacles, challenges and problems that Bitcoin can face it in 5 years? How we can help Bitcoin to take more authoritative place in the world of currency system?

Bitcoin works in a similar manner to a commodity such as gold. When a currency struggles or an economy suffers in a recession, the value of BTC will increase because it serves to be an alternate store of value. In 5 years, I can see BTC potentially becoming equivalent to gold as a go-to store of value, if not a better one.

fontana

newbie

Activity: 23

Merit: 0

I do not believe 2015 will be the year Bitcoin 'goes mainstream'. Yes it will be talked about, more people will use, hold or trade it and more merchants will accept it. But we are far, far away from big scale adoption... Honestly, I do not think any 'common folk' will actually use this for at least another 3 years. Let's talk again in 2018-2020. If Bitcoin still exists (and I hope so, since I'm a longtime holder and believer) by then, it will be widely accepted and price will have risen also. But for 2015, I predict more or less the same path we've started in 2014. Up, down, left, right, adoption, repeat.

CoinCidental

legendary

Activity: 1316

Merit: 1000

Si vis pacem, para bellum

Quote from: Jeremycoin on July 06, 2015, 05:03:38 AM

[IMO] I predict that we will face a time when Bitcoin wallet is rarely secure

The security issues is a personal thing
I'm sure there are people who have a ton of coins and very weak security and probably others at the opposite end of the scale with fort knox security for a tiny amount of coins

If you have any non trivial amount of btc its in your best interests to keep it secure as possible
10-100 btc today might be a life changing amount of money in a few years and they're will most certainly be lost and forgotten passwords in the future and much heartache for the losers as they see the coins they own but can't access gain shit tonnes of value..... Sad

Jeremycoin

legendary

Activity: 1022

Merit: 1003

𝓗𝓞𝓓𝓛

[IMO] I predict that we will face a time when Bitcoin wallet is rarely secure

Loqkani07

newbie

Activity: 28

Merit: 0

More transactions , more merchants, more users , more mining difficulty , more clarity in regulatory environment. IBLT will change the face of bitcoin significantly.

Juliozz

newbie

Activity: 17

Merit: 0

Three Predictions for Bitcoin in 2015.

1. Deriving derivatives using bitcoin

2. Bitcoin networks gain more traction

3. Innovations around financial services

http://www.cheatsheet.com/business/3-predictions-for-bitcoin-in-2015.html/?a=viewall

Falconer

legendary

Activity: 2660

Merit: 1141

I think bitcoin can grow rapidly, and it will make the governments and banks try to get control on it, although we all have known that it's impossible to them. And bitcoin will be used many more people, to do transaction in daily market and in otherwise do negative thing in black market.

Mehek

full member

Activity: 154

Merit: 100

Quote from: bachlovesstories on July 04, 2015, 08:23:28 AM

What is the obstacles, challenges and problems that Bitcoin can face it in 5 years? How we can help Bitcoin to take more authoritative place in the world of currency system?

Anything could happen really.The situation is like Schrodinger's cat. But I would say chances are more likely that it grows bigger since I see a lot of potential and that huge companies and websites are using bitcoins as a payment method. Bitcoin is the future. I don't see bitcoin being ''dead'' any time soon. That phase will be over.

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

Quote from: bit1 on July 04, 2015, 12:25:42 PM

Wait a second,

Are they doing that? do you have a link? If they change the 21 million cap very peoples will be angry.

He mentioned it here

http://cointelegraph.com/news/114648/jon-matonis-the-bitcoin-ecosystem-will-soon-need-a-reference-interest-rate-similar-to-libor

But not his own proposal, just that the current block size debate reflects on how a potential increase in coins and thus the block reward might play out.

bit1

legendary

Activity: 938

Merit: 1000

Quote from: bryant.coleman on July 04, 2015, 10:52:25 AM

The biggest threat is going to come within the Bitcoin community itself. If the idiots within the Bitcoin foundation decides to change the 21 million cap, then it will ultimately result in the death of Bitcoin. In my opinion, the threats from within are more serious when compared to any threat which we are likely to face from the authoritarian governments.

Wait a second,

Are they doing that? do you have a link? If they change the 21 million cap very peoples will be angry.

LiteCoinGuy

legendary

Activity: 1148

Merit: 1014

In Satoshi I Trust

Quote from: bryant.coleman on July 04, 2015, 10:52:25 AM

The biggest threat is going to come within the Bitcoin community itself. If the idiots within the Bitcoin foundation decides to change the 21 million cap, then it will ultimately result in the death of Bitcoin. In my opinion, the threats from within are more serious when compared to any threat which we are likely to face from the authoritarian governments.

they can decide what they want but no one will ever follow this path.

bryant.coleman

legendary

Activity: 3766

Merit: 1217

The biggest threat is going to come within the Bitcoin community itself. If the idiots within the Bitcoin foundation decides to change the 21 million cap, then it will ultimately result in the death of Bitcoin. In my opinion, the threats from within are more serious when compared to any threat which we are likely to face from the authoritarian governments.

Harry Hood

sr. member

Activity: 266

Merit: 250

Predicting the future is pointless but can be a fun discussion. I don't have any grand opinion - I foresee the usual obstacles: 1) Slow adoptions, 2) Challenged perception issues from the uninformed, 3) Potentially some dilution by competing crypto currencies.

I have stronger opinions on what needs to be done to help Bitcoin. Bitcoin needs to become more familiar with a greater part of the population. Not that the population needs to use it but the population needs to be more aware of it, to the point that it's not a mystery or clouded by misconception. This can be done easiest by mainstream businesses accepting bitcoin for payment, having the "Bitcoin accepted here!" signs next to registers. Adoption by the broad population doesn't need misconceptions to be explained, they just need to see their neighborhood and nationwide stores use it...most people won't even be curious enough to care about the misconceptions at that point. They'll see - Carrefour accepts it? It must be good!

Amph

legendary

Activity: 3248

Merit: 1070

i can not think of any other big issue besides the TX limit, for now or for the future, bitcoin need to get out of the beta phase, where it is seems stuck forever

possible obstacles would be regulation around the world(so not just one country...) and base security issue, to avoid new users losing their bitcoin

then you have a bunch of small pesky problem, like confirmation time(side chain can solve this), slow sync(checkpoint can solve this), 51% attack(ignoring the whole thing about "the longest chain matter more" can solve this) ecc...

RappelzReborn

hero member

Activity: 686

Merit: 500

I don't think that Bitcoin is going to die anytime soon personally because it's already spreading and spreading and we see a lot of companies (big ones) like Namecheap , Microsoft etc ... starting to accepting it as Payement method which is pretty good . for what comes to the price I'd say it will be around 600$ on the Next halving block reward which should me on the end of 2016 .

bachlovesstories

member

Activity: 84

Merit: 10

What is the obstacles, challenges and problems that Bitcoin can face it in 5 years? How we can help Bitcoin to take more authoritative place in the world of currency system?

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