Years of Bitcoin, short version | Bitcointalksearch.org

Joohansson

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Quote from: aTriz on July 08, 2017, 05:47:01 AM

Quote from: Joohansson on June 21, 2017, 01:43:01 AM

Trying to get a grasp of history and making some predictions. Improvements are welcome! I always thought that price might stabilize over time but I'm not so sure any more.. Though I don't see any reasons yet for Bitcoin to stagnate.

2008: Concept phase
2009: Launch
2010: Experimenting
2011: Started to grow
2012: Acknowledged by the world, promotion
2013: Acceptance by small companies, turbulence, politics, super hype, venture investment boom
2014: Crash, hacking of exchanges, acceptance by large companies, venture investment boom v.2.0
2015: Price recovery, merchant acceptance boom, acceptance by some governments
2016: World wide acceptance, network expanding and huge rise in mining power, ATM boom, scaling war & Bitcoin politics
2017: Cryptocurrencies boom full spectrum, Japan accepting Bitcoin as legal way of money, other important acceptance, (scaling compromise and solution, potential forking turbulence)
2018: Serious cryptocurrencies development and altcoins finding their purpose, large network scaling, big fresh investors, price boom v.2.0
2019: Serious push for mainstream adoption in some countries, mixture of cryptocurrencies and interoperability
2020: Some Bitcoin and banking (FIAT) systems cooperation (banking long-term survival plan), serious world wide regulation and legalization attempt, Bitcoin banks (for legally lending Bitcoins for interest)

I'm not sure whether the 2020 prediction is going to be accurate. Because honestly bitcoin does not go well with the fiat currencies at all. If anything, they are the complete opposite. Banks might like the idea of having immutable ledgers but they will create their own and not use bitcoin because they want to retain control.

Though mainstream adoption/legalization is happening right now and i can only see it expanding even more as a trend in the future. Honestly though this should have happened a long time ago. Governments are only realizing now that bitcoin is really a legitimate currency, and not just some magic ponzi scheme.

Also, another thing. I expect BTC to massively outperform altcoins in the coming years.

I were wrong, it's not happening in three years. It's happening now! This is exactly what I meant:
http://www.coindesk.com/swiss-bank-launches-bitcoin-asset-management-service/

aTriz

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Quote from: Joohansson on June 21, 2017, 01:43:01 AM

Trying to get a grasp of history and making some predictions. Improvements are welcome! I always thought that price might stabilize over time but I'm not so sure any more.. Though I don't see any reasons yet for Bitcoin to stagnate.

2008: Concept phase
2009: Launch
2010: Experimenting
2011: Started to grow
2012: Acknowledged by the world, promotion
2013: Acceptance by small companies, turbulence, politics, super hype, venture investment boom
2014: Crash, hacking of exchanges, acceptance by large companies, venture investment boom v.2.0
2015: Price recovery, merchant acceptance boom, acceptance by some governments
2016: World wide acceptance, network expanding and huge rise in mining power, ATM boom, scaling war & Bitcoin politics
2017: Cryptocurrencies boom full spectrum, Japan accepting Bitcoin as legal way of money, other important acceptance, (scaling compromise and solution, potential forking turbulence)
2018: Serious cryptocurrencies development and altcoins finding their purpose, large network scaling, big fresh investors, price boom v.2.0
2019: Serious push for mainstream adoption in some countries, mixture of cryptocurrencies and interoperability
2020: Some Bitcoin and banking (FIAT) systems cooperation (banking long-term survival plan), serious world wide regulation and legalization attempt, Bitcoin banks (for legally lending Bitcoins for interest)

I'm not sure whether the 2020 prediction is going to be accurate. Because honestly bitcoin does not go well with the fiat currencies at all. If anything, they are the complete opposite. Banks might like the idea of having immutable ledgers but they will create their own and not use bitcoin because they want to retain control.

Though mainstream adoption/legalization is happening right now and i can only see it expanding even more as a trend in the future. Honestly though this should have happened a long time ago. Governments are only realizing now that bitcoin is really a legitimate currency, and not just some magic ponzi scheme.

Also, another thing. I expect BTC to massively outperform altcoins in the coming years.

masterchief001

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Quote from: Joohansson on June 21, 2017, 01:43:01 AM

Trying to get a grasp of history and making some predictions. Improvements are welcome! I always thought that price might stabilize over time but I'm not so sure any more.. Though I don't see any reasons yet for Bitcoin to stagnate.

2008: Concept phase
2009: Launch
2010: Experimenting
2011: Started to grow
2012: Acknowledged by the world, promotion
2013: Acceptance by small companies, turbulence, politics, super hype, venture investment boom
2014: Crash, hacking of exchanges, acceptance by large companies, venture investment boom v.2.0
2015: Price recovery, merchant acceptance boom, acceptance by some governments
2016: World wide acceptance, network expanding and huge rise in mining power, ATM boom, scaling war & Bitcoin politics
2017: Cryptocurrencies boom full spectrum, Japan accepting Bitcoin as legal way of money, other important acceptance, (scaling compromise and solution, potential forking turbulence)
2018: Serious cryptocurrencies development and altcoins finding their purpose, large network scaling, big fresh investors, price boom v.2.0
2019: Serious push for mainstream adoption in some countries, mixture of cryptocurrencies and interoperability
2020: Some Bitcoin and banking (FIAT) systems cooperation (banking long-term survival plan), serious world wide regulation and legalization attempt, Bitcoin banks (for legally lending Bitcoins for interest)

Your predictions are nice, it's like a praise for bitcoin, I enjoyed it. However, it is too early to talk about what will happen in the years to come. First of all, wait for the upcoming event, 1/8.

Joohansson

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Some Central Banks Are Exploring the Use of Cryptocurrencies:
https://www.bloomberg.com/news/articles/2017-06-28/rise-of-digital-coins-has-central-banks-considering-e-versions

Hutalar

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Quote from: virasog on June 25, 2017, 02:51:57 AM

Do not forget the landmark Florida Cryptsy case, where Bitcoin and other alt coins were officially classified as "value commodities" and handled as such. This was the moment that Florida, whose senator had loudly spoken before that case ever existed said that "Florida never has and never will recognize such a thing as a currency". The courts could either go against the senator and declare the lost coins as currency, normally fine but that is the same judge that gave $1.3 million dollars in campaign funds so that he and the governor could finish the establishment of some other legal issues, or they courts would have to state that the coins had no value.

As it happaned in florida.Why because people are going for bitcoins investing there.Where they are not investing that money in a country.It is because they all know that there is a bigger profit in this currency and a country will run according to the modern technology to get the success.

BillyBobZorton

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Quote from: Kakmakr on June 21, 2017, 02:16:29 AM

2018 - First official BankCoin are launched
2019 - Governments start to regulate Open/Public Blockchains and favor PRIVATE centralized BankCoins.
2020 - Open/Public Blockchains are banned in most countries.
2021 - Open/Public Blockchains goes underground and flourish on black markets.
2022 - Ban on Open/Public Blockchains are lifted, because governments are losing tax income and votes.
2023 - Bitcoin becomes the global reserve currency.

This is how I see it playing out in the near future, because governments think they can do what they want and will only realize what they have done, once they start losing votes.

I also predict a big shakeout of doubters of bitcoin being more than a stupid paypal 2.0. The big blockers will die, they will sell and we will shake them out. Those that believed in keeping bitcoin decentralized via a conservative block size will be compensated as bitcoin survives the big government ban and surges above unforeseen prices. It will become the way out for oppressive governments.

The ultimate fate of bitcoin is to be a censorship resistant tool to store wealth and not to buy starbucks with it. That could be solved with lightning network running on top of this small blocked decentralized robust network.

rafajunior99

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Quote from: virtualdn on June 21, 2017, 11:16:06 AM

Haha, you can add 2025 as the year when BTC will hit $100,000 - yes I believe it is possible, and do not forget it's been mentioned here first

I think you are wrong to say something like this, by 2017 it is time for bitcoin to show a very good price different from 2011 and 2012, maybe this year until next year will be more valuable for the price per 1 Bitcoin. .

ilovefeetsmell

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Quote from: Joohansson on June 21, 2017, 01:43:01 AM

Trying to get a grasp of history and making some predictions. Improvements are welcome! I always thought that price might stabilize over time but I'm not so sure any more.. Though I don't see any reasons yet for Bitcoin to stagnate.

2008: Concept phase
2009: Launch
2010: Experimenting
2011: Started to grow
2012: Acknowledged by the world, promotion
2013: Acceptance by small companies, turbulence, politics, super hype, venture investment boom
2014: Crash, hacking of exchanges, acceptance by large companies, venture investment boom v.2.0
2015: Price recovery, merchant acceptance boom, acceptance by some governments
2016: World wide acceptance, network expanding and huge rise in mining power, ATM boom, scaling war & Bitcoin politics
2017: Cryptocurrencies boom full spectrum, Japan accepting Bitcoin as legal way of money, other important acceptance, (scaling compromise and solution, potential forking turbulence)
2018: Serious cryptocurrencies development and altcoins finding their purpose, large network scaling, big fresh investors, price boom v.2.0
2019: Serious push for mainstream adoption in some countries, mixture of cryptocurrencies and interoperability
2020: Some Bitcoin and banking (FIAT) systems cooperation (banking long-term survival plan), serious world wide regulation and legalization attempt, Bitcoin banks (for legally lending Bitcoins for interest)

Bitcoin will develop for the incoming more years. In 2020, Bitcoin will be regulated by banks and government worldwide. It will dismay for us in the year of 2020, we don't want it to happen because once they had implemented the bitcoin as regular currency in the world, it may possible they will take your bitcoin because you have to pay tax first before owning a bitcoin. It will place tax in every bitcoin. As always, The government will benefit with the tax payment. The government I had, the officials were an anomaly of holding tax! They are selfish!

darthmaul

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Nice timeline you have got there. I hope that it follow the same path as we will end up in the era where bitcoin will have legal status in physical form and it can be used as fiat currency at that time. However, Im also confused with bitcoin being fiat. The reasons is Fiat would result in loss of its decentralised nature as we will need to keep the money in free from and it won't be anonymous. Anyway thats just a specs Im thinking but its too deep to think on.

2018: It seems to be right observation that there might be big investors coming this year and bitcoin would take giant leap towards full development.

2019 : The inter polarity is already exists with bitcoin in the form of its decentralised nature. According to me this year will be the one where few of the major countries will make union and will take decision to implement bitcoin as International currency.

The rest seems to be in ambiguity as I started with the topic.

digez

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The first few years is OK and did categorize the major events that happened at the years, but the "predictive" portion is biased - not that I am against the bias, but to speak honestly -
2018 Should be a very big year for bitcoin regarding adoption IMO, Even more than 2013-2014 and probably more than even this year (2017).

taxmanmt5

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Quote from: virasog on June 25, 2017, 02:51:57 AM

Do not forget the landmark Florida Cryptsy case, where Bitcoin and other alt coins were officially classified as "value commodities" and handled as such. This was the moment that Florida, whose senator had loudly spoken before that case ever existed said that "Florida never has and never will recognize such a thing as a currency". The courts could either go against the senator and declare the lost coins as currency, normally fine but that is the same judge that gave $1.3 million dollars in campaign funds so that he and the governor could finish the establishment of some other legal issues, or they courts would have to state that the coins had no value.

The middle of the road was to declare Bitcoin a recognized commodity, right there with pork bellies and such, with applied a high amount of criminal activity in the theft of them by a trusted tradesman. The other coins were listed as derivatives. That gives them the open door for future enlistment as their own commodity.

just a man

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Quote from: gribble on June 25, 2017, 03:01:45 AM

Quote from: sumit513 on June 23, 2017, 01:14:18 AM

Nice future predictions. Make it to 2030.

Yes, the golden age of bitcoins in 2030, many countries, corporations support and adopt bitcoins
it will be strong for bitcoins even the public doesn't know bitcoins,
they will be published by advertising of products of corporations that adopt bitcoins on their business
they will learn what's bitcoins actually.

You might be right, if Bitcoin survives that long then there would be plenty guys using the coin to purchase digital items.

eaLiTy

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Quote from: Joohansson on June 21, 2017, 01:43:01 AM

2017: Cryptocurrencies boom full spectrum, Japan accepting Bitcoin as legal way of money, other important acceptance, (scaling compromise and solution, potential forking turbulence)
2018: Serious cryptocurrencies development and altcoins finding their purpose, large network scaling, big fresh investors, price boom v.2.0
2019: Serious push for mainstream adoption in some countries, mixture of cryptocurrencies and interoperability
2020: Some Bitcoin and banking (FIAT) systems cooperation (banking long-term survival plan), serious world wide regulation and legalization attempt, Bitcoin banks (for legally lending Bitcoins for interest)

Everything up to the present situation was almost accurate,i am not sure about a scaling compromise but plans are set into motion ,in the last couple of years we have seen more development and projects coming out and what is this serious crypto currency development you are talking about,now we have a large influx of coins and do you think we need more. Roll Eyes

I am not sure how bitcoin lending system works,btc jam closed their doors and i think more companies will follow them that follow the same business model.

gribble

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Quote from: sumit513 on June 23, 2017, 01:14:18 AM

Nice future predictions. Make it to 2030.

Yes, the golden age of bitcoins in 2030, many countries, corporations support and adopt bitcoins
it will be strong for bitcoins even the public doesn't know bitcoins,
they will be published by advertising of products of corporations that adopt bitcoins on their business
they will learn what's bitcoins actually.

virasog

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Do not forget the landmark Florida Cryptsy case, where Bitcoin and other alt coins were officially classified as "value commodities" and handled as such. This was the moment that Florida, whose senator had loudly spoken before that case ever existed said that "Florida never has and never will recognize such a thing as a currency". The courts could either go against the senator and declare the lost coins as currency, normally fine but that is the same judge that gave $1.3 million dollars in campaign funds so that he and the governor could finish the establishment of some other legal issues, or they courts would have to state that the coins had no value.

David Horton

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Quote from: Joohansson on June 21, 2017, 01:43:01 AM

Trying to get a grasp of history and making some predictions. Improvements are welcome! I always thought that price might stabilize over time but I'm not so sure any more.. Though I don't see any reasons yet for Bitcoin to stagnate.

2018: Serious cryptocurrencies development and altcoins finding their purpose, large network scaling, big fresh investors, price boom v.2.0
2019: Serious push for mainstream adoption in some countries, mixture of cryptocurrencies and interoperability
2020: Some Bitcoin and banking (FIAT) systems cooperation (banking long-term survival plan), serious world wide regulation and legalization attempt, Bitcoin banks (for legally lending Bitcoins for interest)

I don't see that happening, you shouldn't give predictions about the future to avoid disappointments

jorneyflair

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Quote from: Joohansson on June 21, 2017, 01:43:01 AM

Trying to get a grasp of history and making some predictions. Improvements are welcome! I always thought that price might stabilize over time but I'm not so sure any more.. Though I don't see any reasons yet for Bitcoin to stagnate.

2008: Concept phase
2009: Launch
2010: Experimenting
2011: Started to grow
2012: Acknowledged by the world, promotion
2013: Acceptance by small companies, turbulence, politics, super hype, venture investment boom
2014: Crash, hacking of exchanges, acceptance by large companies, venture investment boom v.2.0
2015: Price recovery, merchant acceptance boom, acceptance by some governments
2016: World wide acceptance, network expanding and huge rise in mining power, ATM boom, scaling war & Bitcoin politics
2017: Cryptocurrencies boom full spectrum, Japan accepting Bitcoin as legal way of money, other important acceptance, (scaling compromise and solution, potential forking turbulence)
2018: Serious cryptocurrencies development and altcoins finding their purpose, large network scaling, big fresh investors, price boom v.2.0
2019: Serious push for mainstream adoption in some countries, mixture of cryptocurrencies and interoperability
2020: Some Bitcoin and banking (FIAT) systems cooperation (banking long-term survival plan), serious world wide regulation and legalization attempt, Bitcoin banks (for legally lending Bitcoins for interest)

Honestly this should be made into an infographic because it's all excellent info.

THis seems like a plausible "roadmap" type of thing as well for future bitcoin development.

Although, I wouldn't agree with 2018 at least part of it. What I foresee happening is the near future is that:
- Bitcoin dominance climbs back up to at least 70%, people rushing in to adopt btc, merchants really starting to accept btc
- Altcoins slowly deminishing, as its pratical functions decrease due to scalability issues. We have seen the eth network being super congested just by a few ICOs.
- ICOs become regulated by the government, therefore the investors go invest in something else to avoid regulation/taxes(likely bitcoin)
- Only really established altcoins that have good privacy will be supported(eg monero)

Rahar02

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Quote from: Kakmakr on June 21, 2017, 02:16:29 AM

2018 - First official BankCoin are launched
2019 - Governments start to regulate Open/Public Blockchains and favor PRIVATE centralized BankCoins.
2020 - Open/Public Blockchains are banned in most countries.
2021 - Open/Public Blockchains goes underground and flourish on black markets.
2022 - Ban on Open/Public Blockchains are lifted, because governments are losing tax income and votes.
2023 - Bitcoin becomes the global reserve currency.

This is how I see it playing out in the near future, because governments think they can do what they want and will only realize what they have done, once they start losing votes.

I prefer to Op statement but who knows what will happen in the future. Although, govs can do what they want but not whatever they want, especially regarding citizens interest. Bitcoin has provided many projects and chances to support economics development for many people. Govs cannot ban bitcoin without legit evidence/reasons to do it, but it will make sense if they regulate bitcoin and exchanges instead of just ban bitcoin.

doomistake

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Quote from: Wind_FURY on June 21, 2017, 03:00:02 AM

OP, it's more interesting to see how Bitcoin and the dark markets will develop and grow together. That is where we could see Bitcoin's real potential as a censorship resistant and decentralized form of value transfer. The "Bitcoin for the mainstream" is a lost cause in my opinion.

Bitcoin advantages should not be use on illegal things like this in the near future, because if this is the case then the Government will be against on this, causing bitcoin to suffer more about this scenario that we are assuming to happen. This is the reason why bitcoin is banned on some countries because of the illegal use of it. Bitcoin should be use on the things that could help use to rebuild this world that we are living, to a start a new one, a better one.

In the information Age that we are into right now, bitcoin is one of the key to make a brighter future ahead of us, so we should use bitcoin is a way that we know that it will help our society and will not cause any casualties to us.

Mazt rhiezt

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That's how a person following the bitcoin development from 2013 can be said for 4 years, will be different again with the perspective of someone who followed the development of 2009, many of whom think that bitcoin will be replaced will actually die because of the current Transaction. Long enough even the price is slightly expensive.
The emergence of ethereum and litecoin is certainly very influential in the development of bitcoin at this time.
Maybe in the next few years there will be a number of coins that are the choice of a particular country and not just bitcoin, ethereum and litecoin.

Topic: Years of Bitcoin, short version (Read 1897 times)