What do you think about what Satoshi said ?

mordekaiser

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Quote from: OmegaStarScream on August 03, 2015, 05:32:31 AM

In Feb. 14, 2010 Satoshi Nakamoto said : I’m sure that in 20 years there will either be very large (bitcoin) transaction volume or no volume.

Current transactions volume : https://blockchain.info/fr/charts/n-transactions

What do you think about what Satoshi said and how it's going to be in 2029 . As we can see on the Blockchain.info chart volume seems to be increasing with the time however it doesn't seem to be enough , it's not that big ...

I agree to it I think it is being realistic, not just to expect that the value of it will rise like beyond expectation.

n2004al

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Quote from: 1Referee on September 29, 2015, 02:09:56 AM

20 years are very long. Especially with things technology related. I think however that Bitcoin is going to last longer than most people think. The only thing I am not so sure about is when all coins are minted. I know that the fees will then be the miners only income, but that isn't enough. It can only be enough once there is a heck of a lot more transaction volume, which by then means we need to see global adoption. But at this point we don't have to worry about that

You can learn more about this (at least all what is known until now) following this link: https://en.bitcoin.it/wiki/Controlled_supply

1Referee

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20 years are very long. Especially with things technology related. I think however that Bitcoin is going to last longer than most people think. The only thing I am not so sure about is when all coins are minted. I know that the fees will then be the miners only income, but that isn't enough. It can only be enough once there is a heck of a lot more transaction volume, which by then means we need to see global adoption. But at this point we don't have to worry about that

NorrisK

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Quote from: OmegaStarScream on August 03, 2015, 05:32:31 AM

In Feb. 14, 2010 Satoshi Nakamoto said : I’m sure that in 20 years there will either be very large (bitcoin) transaction volume or no volume.

Current transactions volume : https://blockchain.info/fr/charts/n-transactions

What do you think about what Satoshi said and how it's going to be in 2029 . As we can see on the Blockchain.info chart volume seems to be increasing with the time however it doesn't seem to be enough , it's not that big ...

The slow rise in transaction volume may just be part of a parabolic rise. When critical mass is reached, expect the steep increase!

Although, then we may run into problems with current block size, which may limit the option of a very large (bitcoin) transaction volume.

Miss Fortune

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Quote from: OmegaStarScream on August 03, 2015, 05:32:31 AM

In Feb. 14, 2010 Satoshi Nakamoto said : I’m sure that in 20 years there will either be very large (bitcoin) transaction volume or no volume.

Current transactions volume : https://blockchain.info/fr/charts/n-transactions

What do you think about what Satoshi said and how it's going to be in 2029 . As we can see on the Blockchain.info chart volume seems to be increasing with the time however it doesn't seem to be enough , it's not that big ...

Well about his theory, all I can say is that if this happens then I think it is alright at least he did not theorized that it will be erased and be gone. But it is just a theory there are chances that the value of it will rise more than we could ever imagine.

silverleafy

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Quote from: OmegaStarScream on August 03, 2015, 06:50:21 AM

Quote from: Amph on August 03, 2015, 06:07:12 AM

that with other 4 halving we will have the verdict about the future of bitcoin, because mining supply would not affect anymore the price since the reward will be very tiny

he said that quote in 2010 btw, so he was aiming at 2030 which is two years after the 5° halving

Right sorry I was counting from the creation of Bitcoin which Is 2009 Lips sealed

AND ACCORDING to this : https://en.bitcoin.it/wiki/Controlled_supply we should be at the final halving block reward on 2021 then it stays 6.25 BTC
the only thing that we should be afraid of is miners leaving mining I guess ? I mean if price don't increase miners farms won't just waste their money and shutdown or switch to an Altcoin

Actually, there will be way more halvings. Look slightly below the table that ends on the 6.25 BTC per block. According to that, there will be 33 halvings before one last "halving", reducing the reward to cero. So all bitcoin will be mined by the late 2130s or early 2140s (assuming each halving runs on time at about 4 years, or 3 years and some months).
The transactions will be many by 2030. They're many now (relatively, anyways. I'm sure they'll be parties celebrating the first time we handle a million transactions a day (once we get this block size bullshit gets sorted out). Is a billion transactions a day even possible? I think bitcoin is going to find out.

RealBitcoin

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Quote from: OmegaStarScream on August 03, 2015, 05:32:31 AM

In Feb. 14, 2010 Satoshi Nakamoto said : I’m sure that in 20 years there will either be very large (bitcoin) transaction volume or no volume.

Current transactions volume : https://blockchain.info/fr/charts/n-transactions

What do you think about what Satoshi said and how it's going to be in 2029 . As we can see on the Blockchain.info chart volume seems to be increasing with the time however it doesn't seem to be enough , it's not that big ...

He is right, the transaction volume has an uptrend.

If we continue on the right path then we will be very popular in 20 years.

If bitcoin dies before then bad luck, but i dont think so.

okae

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Quote from: Amph on August 03, 2015, 06:07:12 AM

that with other 4 halving we will have the verdict about the future of bitcoin, because mining supply would not affect anymore the price since the reward will be very tiny

he said that quote in 2010 btw, so he was aiming at 2030 which is two years after the 5° halving

exactly, i think that this is the key, the halving, IMHO i think the 2016 is a "pointbreak" that will bring us lot of info about what could happend in the next years.

Dont forget that the world economy is on the precipice and this will match with the 2016 halving, i really think that what will happen than will give us some info about the near future of bitcoin.

angelakay124

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The thing we can buy with bit coin and the the way we can use bitcoin is the main thing for future price of bit coin. If the government always try to make the bad impression about bit coin than there gonna be continuous fall which will make miners leaving mining transaction getting unconfirmed and ultimately die of bitcoin days. Hope bit coin will be adapted by as many as people who are right now using other payment processor like PayPal.

Moonpig

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Quote from: OmegaStarScream on August 03, 2015, 05:32:31 AM

In Feb. 14, 2010 Satoshi Nakamoto said : I’m sure that in 20 years there will either be very large (bitcoin) transaction volume or no volume.

Current transactions volume : https://blockchain.info/fr/charts/n-transactions

What do you think about what Satoshi said and how it's going to be in 2029 . As we can see on the Blockchain.info chart volume seems to be increasing with the time however it doesn't seem to be enough , it's not that big ...

I think he's entirely right. It's either going to be adopted by the masses or people will lose interest and the price will keep going down until the miners call it a day and quit.

n2004al

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Quote from: OmegaStarScream on August 03, 2015, 05:32:31 AM

In Feb. 14, 2010 Satoshi Nakamoto said : I’m sure that in 20 years there will either be very large (bitcoin) transaction volume or no volume.

Current transactions volume : https://blockchain.info/fr/charts/n-transactions

What do you think about what Satoshi said and how it's going to be in 2029 . As we can see on the Blockchain.info chart volume seems to be increasing with the time however it doesn't seem to be enough , it's not that big ...

According to me Satoshi with those words wanted to tell that in that year bitcoin or will be very known and used by to many or will be destroyed by other technologies more advanced. I think that in 2029 bitcoin will very known and will be more used (much more) compared to this year. Much more people from the countries when today is ignored as a currency were have knowledge about it and will use it.

If not the above was a typical Japanese expression which tell something which have to do with the Japanese culture which no one can understand. The Japanese culture I mean. Remember the words of Buda. No one can explain those. Are always with 100 meanings. I think to be ok with all the possible variants which will or can happen.

medUSA

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Quote from: OmegaStarScream on August 03, 2015, 05:32:31 AM

In Feb. 14, 2010 Satoshi Nakamoto said : I’m sure that in 20 years there will either be very large (bitcoin) transaction volume or no volume.

This is a common expression and it's bound to be true. IMO, it means nothing. 20 years is too long, there is adequate time for bitcoin to be so successful that we moved on to another generation of crypto currency. So transaction volume would still be zero in 2030 whether Bitcoin is hit or not with the 20 years. Wink

I believe Satoshi knew he was on to something, but he wasn't sure how big or how fast Bitcoin can grow. So he picked a nice fail-safe number of 20 years. 5 years on, now in 2015, can we be any more sure of a very large volume in 2030?

OmegaStarScream

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Quote from: Amph on August 03, 2015, 06:07:12 AM

that with other 4 halving we will have the verdict about the future of bitcoin, because mining supply would not affect anymore the price since the reward will be very tiny

he said that quote in 2010 btw, so he was aiming at 2030 which is two years after the 5° halving

Right sorry I was counting from the creation of Bitcoin which Is 2009 Lips sealed

AND ACCORDING to this : https://en.bitcoin.it/wiki/Controlled_supply we should be at the final halving block reward on 2021 then it stays 6.25 BTC
the only thing that we should be afraid of is miners leaving mining I guess ? I mean if price don't increase miners farms won't just waste their money and shutdown or switch to an Altcoin

Amph

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that with other 4 halving we will have the verdict about the future of bitcoin, because mining supply would not affect anymore the price since the reward will be very tiny

he said that quote in 2010 btw, so he was aiming at 2030 which is two years after the 5° halving

everaja

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Quote from: OmegaStarScream on August 03, 2015, 05:32:31 AM

In Feb. 14, 2010 Satoshi Nakamoto said : I’m sure that in 20 years there will either be very large (bitcoin) transaction volume or no volume.

Current transactions volume : https://blockchain.info/fr/charts/n-transactions

What do you think about what Satoshi said and how it's going to be in 2029 . As we can see on the Blockchain.info chart volume seems to be increasing with the time however it doesn't seem to be enough , it's not that big ...

As seeing the present rate of mining i wish that all bitcoins will be mined in coming another decades all will be left with no bitcoins(us) the people who will be rich will be miners..and miners will surely hold the coins and would create a hoarding amoung all people for bitcoins and thus will result " I’m sure that in 20 years there will either be very large (bitcoin) transaction volume or no volume.
"

OmegaStarScream

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In Feb. 14, 2010 Satoshi Nakamoto said : I’m sure that in 20 years there will either be very large (bitcoin) transaction volume or no volume.

Current transactions volume : https://blockchain.info/fr/charts/n-transactions

What do you think about what Satoshi said and how it's going to be in 2029 . As we can see on the Blockchain.info chart volume seems to be increasing with the time however it doesn't seem to be enough , it's not that big ...

Topic: What do you think about what Satoshi said ? (Read 1066 times)