Bitcoin Forum

with less than 5mln BTC left to mine, on the 8th year, with news worldwide - why the price is only 2500$ and not much higher? where are all the billions of people? where are all the FIAT's trillions?

It will happen, they will come like your Subject says "If you build it, they will come" they must be stuck in traffic.

It's all because of SegWit?

In case bitcoin becomes a global official currency, people will buy Bitcoin of people which have already got bitcoin´s, either for fiat (in the beginning) and then for goods or as payment for their work (when it is more and more famous).

if you build it they will come? In my opinion yes, if there is no scaling problem (and we will have a few more sclaing problems, even IF segwit and the lighteningnetwork help now, I doubt that would be enough if 8billion people and companies use BTC)

This will take a generation - 20 years.

Bitcoin only as store of value?

Yes of course  :D

No, as atore of value AND daily used currency

it is simply because adoption is a slow process and it is like this with any new technology. when computers were first introduced not everyone jump in the computer shops to buy them but today (nearly) everyone has a PC.

it is the same with bitcoin too. it takes time. first we need regulations, and it has been happening this year with Japan and multiple other countries.
then we need a more stable community with less debate and drama. so that new people can easily come in and feel welcome. right now if someone new comes in and googles bitcoin and goes to reddit they will surely run away from all of this!
then we need a more stable price so that bitcoin can be seen more than just a speculation tool and more like a currency. this will take much longer but we are at least half way there. the big swings are less common now and with more smaller swings.

these 3 in my opinion are the first most important steps.

why 99.95% of people will agree to the rare Bitcoin blockchain, making all early adopters (2009-2016) rich - and not look for better crypto solutions?

because there are 9995 reasons to agree to rare bitcoin instead of an altcoin.
- security (of the code and the network and the clients) and also the variety of wallets
- reliability (that it will always work, it won't go offline, since bitcoin hasn't but altcoins have many times)
- scarcity (bitcoin has a cap, it has a good distribution rate, it also as a good distribution) many altcoins either don't have a cap or they have huge supply and will never grow in price.
- it is already adopted and it is already very big. but nobody even knows about altcoins!

Because it is already adopted by many people and it is like Herbert2020 said, a slow process, so slowly people will start using Bitcoin. There is no united community of non bitcoiners who start saying hey, lets create our own cryptocoin and screw bitcoin.

all are hoping and saying that BTC will go Up.
as of my side It will happen, btc are getting stronger, many people are showing interest on it, so lets wait and the Big thing will happen soon :)

because of all the roadblocks and because of all the weak hands who only are in bitcoin for the fiat profit and nothing else.

the road blocks are the Mt goxes and all the drama such as FUD about fork, FUD about bitcoin in general and all kinds of crap.
and you think people are seeing bitcoin's potential and some of them may think it themselves too but in fact what happens is that as soon as there is a rise they panic and think this is the end and sell. this is actually why there aren't that many millionaires in the news but a handful of them! because only a handful kept their coins and didn't sell on each small rise.

most of the money is flowing into other altcoins imo.

i think people which have big bitcoin is holding in their wallet and waiting the highest price which only they know how much it will be. they don't want to sell all of their bitcoin for now and maybe they only sell in small amount to join in this euforia.

Bitcoin has about as much chance of being the world's crypto as Kevin Cosner has of getting baseball ghosts to come to his corn field. Bitcoin is a bit like Kevin Cosner, was great, now outdated.

I think by this very year end a huge pile of fiat shall find it's way into Fiat, as many countries are adopting it, and I feel that Asian countries adopting it would be the key, but strangely enough it is the European food chains that are leading the way and this alone is a positive feedback for the community, many tourist places are now accepting it as a payment process and that is just good news for Bitcoin. And you have put a wonderful title, believe in it, stay positive.

an outdated thing is replaced as fast as you can say outdated!
and the funny thing is, not only bitcoin is not being replaced but instead bitcoin is being adopted more and more every day by new merchants, new services that only come to life because of bitcoin and many more.
and on top of that, there is no competition, there isn't anything better than bitcoin. they have all failed worse than bitcoin in reality but they seem to win on paper.

Only eight year still almost 4 million left to mine means 17 + million already mined  . Do yu asking about already mined people or people from outside where they kept their money . Even after seeing this thread i started to think about that.

People still don't know bitcoin, that's the main problem why price raise so slowly. And all this altcoins and ICOs may look pretty scammy with their aggressive advertising, people just scare to enter this, because of it looks just like a new financial pyramid. I think this ICOs and shitcoins, which are created on the base of people's greedy, will have bad effect on all the idea of crypto-currencies.

I do not think that segwit is the reason behind this slow adoption.  I think the slow adoption is due to the decentralized nature of Bitcoin.  There is no central authority that commands on every move of the promotion and advertisment.  It is an independent actions that often times contradict each others idea and end up making people confused about it.  Aside from that, the complexity of the process for non tech savvy people is another thing.

Being a decentralized sometimes had a bad effect on price as what you said, there is no moderation on the price bitcoin that results to price change Everytime there is a global hype happening just like what segwit activation  impact even if it is not a big deal actually.

As time goes on, more people are knowing about Bitcoin and starts developing interest, and before you know it, the billions and trillions of people living in the world will know it and they will come for it. :)

By 2029, in 12 years time - almost 98% of the total bitcoins will be mined.

Lol, 8 years yet, without any endorsement from media and other influent organizations, celebrities, businesses, you are asking for a miracle...

Mass adoption takes take to happen, Bitcoin is still in test, it's not ready to be accepted by lots of people. The good news is that it's growing even if too slow.

May be bitcoin is still under developed and needs evolution to let common people understand about it. There is half of the population who doesn't believe in things like bitcoin unless and until they find it more easy. Well its easy for us but people are really crazy about using virtual machines and operations.

It will take time for people to understand whats going on with bitcoin, why the price is taking such giant leaps and all. They look at it as virtual currency and not much can be done with it. They don't think it as some sort of intelligent tech that came out of Satoshi but just a crypto commodity which is risky for them same like other assets around the market. The day they will understand it completely (which is going on process) they will invest and the price of bitcoin will gradually increase.

you keep saying this but in fact i believe how much of bitcoin is already mined has nothing to do with its adoption.
things like big volatility in price and things like the scaling war are the things keeping the price low and prevent many people from investing in bitcoin because it seems scary to them.

Yes, when I build they will come and develop it to the goal

People most of the time are sheep's they are not going to take the steps necessary to their well being unless they are told so and as long as they can keep getting money through their jobs and can use their smart phones then everything is fine, but when an economic crises strikes, and it will, then they will adopt bitcoin.

What promise did I miss along the way that you think is supposed to be there? I know, it is just not where you want it. Something that was free and could be produced by the hundreds in minutes and is now only $2500 per coin, what has the world come to.

Something that went from $250 to $2500 in a matter of no time, what can we do? What a whining little baby.
I guess you will have to make the best of it. When the world gives you gold, make platinum

I would say you actually came late to mining that you have to wait that long to get a btc but either way its just unfortunate that it happen at this time you are ready for it but be of good cheer because its still going to worth it if you can exercise adequate patience and not rush it in making money. Just take your time to mine more so that when the time comes, you get to recoup your investment in multiple folds hopefully.