Bitcoin Forum

Hi guys.  :)

Reading the comments in this forum and some other sources, I figured some well-informed and hardcore bitcoiners don't believe the long-term potential of BTC (say, 2020). Why?
I mean, we've all read the famous opinion that 10 years from now btc will be worth much more or nothing, but that comment belongs to the old days. After all this years of price increase from the age of 10K BTC pizzas to the age of $500 BTCs, how much is the chance of bitcoin to be worth nothing in the coming years?

And no, we are not talking about the usual altcoin advertising half bullish - half bearish forum spammer! The people I'm talking about are serious. They are a minority of BTC experts, as most of the knowledgeable and trustworthy people around here recommend buying and hodling BTC, but the minority that doesn't believe in it exists. If you're one of those people, please explain your reasons. :)

Are you sure the world will still exist in 2020 ? :)

Since when is long term only 5 years?

Long term to some people on here is tomorrow morning. 

I lol'd hard man, but you are 101% ture :D

2020 will be an interesting time for BTC. Most of the present issues should be solved by then. If they're still squabbling about scaling, it's in a regulatory fug in most places and we're still doing the endless pump and dump hoopla with a comparative handful of the globe by then I think there's a strong chance it's curtains. We'll have a good idea whether it actually intends to go places by then.

Some people don't exactly believe BTC will fail, they just say current difficulties of Bitcoin as currency and protocol and that there is a possibility that BTC won't be at 1M/each by 2020.  They are realistic, what does not means they don't believe BTC. Only a few trolls and some people like professor Stolfi really believe that


since this is internet technology and Bitcoin. See how much changed in the tech world. And see what BTC was 5 years ago.

Maybe the present issues are solved by then, but I hope more "issues" keep turning up as bitcoin needs to be evolving constantly if it wants to have a chance to stick around.

We can't have it be a new fiat like thing which does not adapt to changes in the world.

202 is not away at all, we will still be in a similar state to where we are now.  More people will be on  board wth bitcoin but I can't imagine the value being any higher then $1000.  Just my thought as I sit on the train into work.

2020 is not year of dream for me. 2030-2035 will be cause, bitcoin will be dead?
Or it will be so much valuable from nowadays.

I am so tired of seeing this. In 2010, he said in 20 years...blah blah

TWENTY, not TEN

2030, NOT 2020

Haha! Oh man this is so true. :D
But seriously, I think as well that 5 years is more kind mid term time frame.
10 years or longer I see as a long term holding.

maybe satoshi overestimated it on purpose just to be sure to not go wrong, but 10 years should suffice for bitcoin to show some serious success

2020 is decisive for the mining sector

Don't believe everything you read on this forum. Many more experienced users that you see posting here are maybe not original holders of their accounts. This means that there are many bought high ranks accounts.

Second thing, many people have their own agendas. Some are trying to force the price down by talking s**t so they can buy in. Some are advertising their altcoins as some people have already mentioned here.

The main reason is that 2020 will be the year that all viable bitcoin mining will have been done.
Bitcoin will enter a new phase.

What will happen to bitcoin transactions if people stop mining?
I've read up on this but it is still fuzzy to me.
To my understanding miners mining a block get the transaction fees when running a full client on the internet.

So if that is the case how high are the transaction fees?!!?
The transaction fees are defined by the client and can be set to any value.
As you can see this is something that will have to sort itself.

Nowadays transaction fees are a nice bonus on mining a block
As you can see this will become the sole income of transaction verifiers (miners).

So 2020 is a good moment to look at what your coins are worth and look at the future and make a decision to HODL or SODL!

The 2020 is not much distant and cannot be told about big increases in that year. So the people you hear and told that it will not be a big price in that year maybe have reason to tell this "prediction". Anyhow I think that with bitcoin cannot be predicted nothing for sure because all its life has show that is unpredictable. But this even because of its qualities. It is a decentralized money and have no any kind of Authority which can "take care" about it. So "he" is like a "caressing child" who make what "can born on its head on a given moment". "He" obeys only to demand/supply low and no one can predict how it will be such report in every moment. We can try to affect but never can be able to command it. So we can try to make publicity, to speak, to spread and to propagate bitcoin but our efforts cannot be measured because no one can know which result these can produce. So the conclusion is the impossibility to know the future price of bitcoin.

As for me, I have big hopes in it. Leaving apart all the above reasonings I believe on it. I believe in a big spread of it, in its regulations in most of the important and democratic countries and in a very high price of it. But not in 2020, maybe not even in 2030. But beyond this year I have big hopes.

Bitcoin is already 71% mined out. Many mining operations will cease to be profitable after the next halving in 2016. There may be a push by miners for higher transaction fees at that time.

In about 10 years or so, when block reward comes down to under 1 bitcoin per block, if there are not enough transaction fee's and the price isn't
proportionally greater, there will be a huge loss in mining, that will force miners to shut down mining until difficulty adjusts.
In that scenario, it will mark an age of bitcoin downfall, ofcourse - if it happens, but i doubt it. Anyways i think that's what people are afraid of longterm.

If anyone that has been here for years says you should sell because long term Bitcoin will fail, it just means it's a former whale that already sold all of his coins and his scared that he will look like a massive idiotin 5 to 10 years when Bitcoin takes over the world (and he will, anyone selling now is a complete moron, the path is now clear, we have even The Economist praising Bitcoin and Satoshi nominated as nobel prize).
It's also suggested to ignore any of the idiots that are still vomiting the "Bitcoin is a ponzi"  ban-worthy idiocy. Probably another idiot that got burned trying to time the market.