Bitcoin Forum

At least one country's currency is likely to fail soon — likely Argentina or Venezuela. This will lead to mass adoption of bitcoin among that populace. That will in turn lead to bitcoin rising by more than $50,000 when it happens. Agree ? Comment below!!!!!!

Their sovereign currencies are heading towards failure and their economies are already in turmoil. But I'm not convinced that this necessarily means critical mass for BTC. I have a friend in Argentina and although he's been using BTC for years, he said there has been an exaggeration regarding the level of Bitcoin adoption in Argentina.

I'm guessing that "hyperbitcoinization" is real, but it sounds like people are expecting it to happen in the next few years. I doubt it. First, I think we need to contend with state-level attacks on Bitcoin and likely brutal market manipulation/suppression by Wall Street. Governments seem to be heading towards state-issued "cryptocurrencies" as well, which will confuse potential investors.

Nobody knows what will happen with bitkoynom in 5-10 years. Most likely, it will strongly change, like all the Crypto-currency. Bitcoin, if he survives, will become much more functional and more convenient to use. His clones and altcoyins will make him improve in order to preserve the place of the leader. To do this, first of all, there must be a high speed of its transaction and a small commission on the transaction.

bitcoin is going to change much for the better, many States will accept the system recognize the blockchain and cryptocurrency. Banks will move to the blockchain

Currently we are in 2017. By 2020 we are entering into new phase of mining which will be reduce prize of rewards by 50% than currently have, it means production of bitcoins will be reduced. According to current demand and current supply., Bitcoin price will move up by 2020. I cannot predict price exactly in coming  5 to 10 years but surely it will set a benchmark and create a history in price of exchange against fiat.

if bitcoin still in this uptrend ( from 2009 till now ) i think we will see the bitcoin hit 50,000 in the next 5 years , every new day we will see more people know about Bitcoin and that's add more strong to this Currency .

What do you mean? Bitcoin taking over Argentine Peso and Venezuela's bolivar? Do you have a reliable source on what you are saying? This really made you excited, give the link so that I can read the whole article about this. Mass adoption and if that's likely for real we can really see a big price move for bitcoin for those years to come. $50,000 is almost few dollars left after few months or years.

While many would like to think this, who knows if the countries capitalist (in these two countries there are obviously going to be other people ready to takeover the nation and replace their government and economy with something new) would even allow such a thing to happen. As we all know that one of the biggest industries in a capitalist economy is going to be banking, so I highly doubt they're going to allow for a decentralized currency to come in and ruin a new industry with massive growth opportunities (if the countries' economy is as in shambles as we all think it'll be)

A good opinion and I like your opinion.
I strongly agree to cause bitcoin to increase by more than $ 50,000.

Bitcoin in Venezuela is very popular because of hyperinflation. Many of them are turning to bitcoin just to buy the basic needs in there, like food. I even read that their banks are turning to bitcoin mining. LOL. And the funny thing is that bitcoin is banned in Venezuela. I don't know though if one of them will used bitcoin as currency, I highly doubt it.

As far as bitcoin touching $50K? Of course, it's just a matter of time. With all the positive news coming around. Maybe in just 2-5 years we can get to that price. Mass adoption will come, we don't need countries to make bitcoin their currency just to hit $50K.

There is a big possibility that bitcoin may hit 50,000$ in the next 5-10 years. The only problem I see is when that time comes, the fiat currency will be affected in a way that some of it may crash. The solution of the foreign currency owners is to try to get a hold of of bitcoin and other crypto currency. That way, cryptocurrency will lose its value and popularity causing it to crash, that way, the fiat will be more valuable again. Then we will have no option again but to embrace centralized currency.

Good thinking and I salute what you think about bitcoin in the future.
Someday bitcoin is stronger than other currencies if many people use and know about bitcoin.

I agree with the possibility that a certain country will embrace Bitcoin as their currency but I don't think it'll be easy as we know that cryptocurrencies are decentralized. If there will be a chance that a government uses it, they'll have the chance to control it thus the decentralized characteristic will be gone. Besides, I think it'll be hard for a country to switch fiat easily.

Not necessarily. Bitcoin isn't their only choice in opting out of their economy. I imagine it would be much simpler for them to buy USD or gold as that doesn't require any kind of technical knowledge. Keep in mind that these are average joes, and some of them may not even have an email, or only knows how to use Facebook.

You also need to keep in mind that these people stand to lose everything. All their savings are being threatened to be devalued by inflation. I imagine few of them will be willing to put everything into yet another investment that could lose 50% of its value in a day. USD and gold are much safer options. Their failing economies will cause a higher than normal level of adoption , but not to the point where it could be considered mass adoption.

Yes, I agree with this saying that excessive exploitation is really easy to collapse. If a country's economy is too single, it is unsafe. Argentina's economy has been stagnant for many years, and the economy needs complementarity if it can easily lead to market chaos.

If it does happen, there is a change that price will be reach, but I do believe that there will be more country for that to happen. We just need to prepare ourselves.

Yes, I accepted this view, because there will be an exposed to digital currency of the country certain vulnerabilities, then was found, and then can only use BTC as money in the short term, it is entirely possible.

Experts have already made their opinions. And what they said was really surprising. Because the price of bitcoins will reach $ 1 Million dollars By 2020. This prediction has a solid foundation so we believe and keep our bitcoins. Since the next few years we are sure to accept what we are waiting for. Keep holding bitcoins.

I don't think those countries will use bitcoin as their common payment gateway, because bitcoin does not design to be a common use currency because of it's high transaction fee nowadays. It is good to pay bitcoin for expensive product but not for those cheap pricing products.

i think maybe 5 years or 10 yeas its verry good

If its happen,  i agree it wil make price of bitcoin increase nearly $50.000.
But may i know why currency in argentina and venezuela will be failed? You have any article?

Yes it can be.Because bitcoin price is increasing daily.And it already hits $12000.And I think after 5-10 years it will be more than $50000.Because bitcoins popularity is increasing massively.Many people are showing interest to invest in bitcoin.That's why the price is increasing rapidly.I think after 5-10 year's people of every country will prefer bitcoin than fiat currency.So there is a huge chances of bitcoin to hit $50000 after 5-10 year's.

We have new breaking record of over $14k today, I think we should not wait till next 5-10 years. Maybe it is a golden egg in coming 2018...

Why stop in 2018? All bitcoins will be mined someday around 2040. I'd say 2035-2040 is our peak.

I think bitcoin will grow more in next 5 to 10 years becausethe more people invest to bitcoin and the more they mine bitcoin the rate of with will always grow and theres a chances that it will become an official money for a country, or maybe it will be a most trending topic in the future.

I think it is massive buying bitcoin many products and services are now accepting bitcoin as a payments and the prediction of price is $70,000 USD.

Am i the only one who thinks BTC will go $50,000 next year? (2018) ;)

If a country adopt bitcoin as their currency i am really sure that the country will success. Why? The volitile of bitcoin is very difficult to any country which adopt bitcoin. Thats the biggest problem i think.

you are not alone that thinks bitcoin will go $50k next year and I am sure that many of us thinking the same. but I think we can only predict the price without knowing how much the price will increase in the next year. we are now on the right track to see the price increase and in the next year, bitcoin will go much higher than now.

 I hope bitcoin will grow.Experts have already made their opinions. They say the price of bitcoins will reach $ 1 Million dollars By 2020 and advise to keep holding bitcoins.

I am not quite seeing a connection here. You see, in order for btc to be massively adopted when the original currency crashes, btc would need to serve as ... well... as currency. That is, you would need to be able to buy petrol on a gas station and bread in your local supermarket. I really doubt it would be possible in Venesuela after the currency crash and even if it were, the fees would kill the idea.