Bitcoin Forum

Either we come up with real innovative ideas to speed up transaction rate by 10 times, increase Bitcoin usage in real world, add more use cases for Bitcoin usages and Bitcoin becomes like Apple/Amazon or it goes down and down and become another Yahoo.

We need to innovate together to take BitCoin to 100-500k USD level.

No more innovations means BitCoin will die. Anything which does not evolve can not survive for long.

Bitcoin did great in the last couple of years, that it went down from a bubble of over 15k is what some people where predicting for a while,
but still your right, to keep the value at this stage or raise it again will need innovation.

Your expectations of bitcoin are too high, and your goal may take years to reach, but in 2018, the price of bitcoins is likely to reach 50k.

The problem in Bitcoin is uneven ownership. It is worth noting that most of the outstanding Bitcoin portions are currently immobile, owned by early adopters including Satoshi Nakamoto himself who allegedly has more than a million XBT. When they decide to drain the coin to the market, that's where the problem will begin to emerge. Supply will flood the market, while demand may not have formed that much. Bitcoin's price drops, and all Bitcoin holders will try to cut loss and exit the market

you seem to have been asleep in the past couple of months :D
so here are some links, get busy reading:
https://lightning.network/
https://en.wikipedia.org/wiki/Lightning_Network
and here is the LN network at the moment: https://lnmainnet.gaben.win/ (633 nodes, 1778 Channels, ~6 BTC capacity)

i will not increase the transaction rate by 10 times, it will make it nearly limitless.

First, it's not true that "anything which does not evolve can not survive for long" - can get replaced by better solution, but if there's nothing that is objectively better, then there's no reason for a product to die. In our case, there's no immediate threat that some altcoin will replace Bitcoin, because none of them is more advanced than Bitcoin - they only claim to be so to drain money from investors.

Next, it's also not true that Bitcoin is stagnant - in fact it has more developer activity than any other coin, and there are many awesome solutions under development now that will boost scalability, privacy and expand Bitcoin's functionality. So, instead of creating alarmist posts, you should really spend more time doing research.

Who said the the development of Bitcoin is stopped !! What about lighting network , Did  you hear about it ? . It is under testing right now and when lighting network become  ready it will be game changing for Bitcoin . I think lighting network alone can easily take Bitcoin to 100k+ .

If Bitcoin's core developers are not yet able to unify their thinking, I think your idea is hard to come by. Alas, these core developers on average each have hundreds of millions of dollars in assets, or can not be unified thinking, are the reasons for the interests!

Bitcoin doesn't need to become a currency, it is fine right now as an investment method. There are plenty of coins out there which are fast and have low transaction fees. You can use those coins for payment and hold on the bitcoin as a valuable commodity.

We don't use gold to make everyday payments, yet it is still the most valuable metal there is.

I trully believe it will hit $1000000 within the next 2-3 years!!!

I think the value of bitcoin is more than that. Now it is rising, and in the next few months it will hit $20,000. It will continue to grow,
It will not be behind other cryptocurrencies, it is the king of all cryptocurrencies.

I always believe that Bitcoin will rise in a few.. Let's keep our finger crossed. Truly it will hit the way we want it to.

There is nothing to worry about. Bitcoin is the backbone of cryptocurrencies and with blockchain it kind of cool to keep it in its original state. Have you ever heard of some old classic car getting evolved with new engines and wheels. They are precious because they are classic, old and unique in their own. Same is the case with bitcoin. Nothing needs to be changed, everything is already perfect.

it's very difficult to predict the bitcoin price, but I'm sure bitcoin will reach $ 100k, and hopefully when it's been a lot of bitcoin holders who get a profit because it holds bitcoin for a long time. and also hopefully bitcoin will have a good future.

Why are you saying that no innovations are happening in bitcoin? Has the lightning network development stopped and I wasn't aware of it?
Good development takes time, and I really think that people need to learn on how to be patient. Bitcoin fees are much lower again, and exchanges are finally adopting segwit, so the fees should probably remain this way for now. LN is already being tested on the main net and so far is working well, so I do think it will probably be released during this year. Once that happens, the innovation you are asking for will come true.

Even if it doesn't happen right now, it's ok. Bitcoin development has good potencial, so we need to be patient. I would only be worried if LN got deployed and it failed to solve BTC issues, and no new alternatives would show up at the table. As long as development continues, I will just keep waiting.

But the big question regarding innovating it is how can we, bitcoin users, improve bitcoin?  I know that we are doing what we can to generate new ideas and get a lot of information regarding bitcoin but I think it is not enough.  We must create different ways on how can we make bitcoin popular so that it will be attracted by investors and it will survive through time.

What can we expect? As of now there is no innovation on bitcoin blockchain and if this drop continues then it would be dead for sure. But as what i see, bitcoin price only depends on investors that is if there is no one manipulating the price to make it even more reality. If investors only hold their stocks and take out only what they need, then there is no reason for bitcoin to drop even more.

bitcoin will never die perhaps bring down the whole crypto community then maybe it dies,because this is technology and world is getting closer and closer to computer world.when only technology runs the system and human will only the creator,and to monitor.in effect electronic currencies on the track and will do the job

That is true for cars and furnitures but not in technologies. Have you seen anyone still using beepers? NO, you might not even heard about it because they have been replaced by mobile phones, and then by smart phones.

It is true that IF bitcoin becomes stagnant, it will die. But it is not, and I believe the devs are working hard to make solutions to the problems.

LN

Maybe you don't know about lightning networks? Bitcoins are now running lightning networks, but it takes time to deploy, and the only thing we need to do is wait until the lightning network is ok,and it will change.

     Well op, I can probably say that you are not that active in reading news about bitcoins that much. The lightning network is what's new and is a pretty amazing idea that can really change how things work with bitcoins. In my opinion, this will really be the biggest leap of bitcoin and will really be the thing that can make bitcoins reach greater all time highs again. Although this may seem as a fix for the main problems of bitcoins for the mean time while there are still no better solutions that can be thought of, it undeniably is still an amazing fix for bitcoin and is surely enough to draw in a lot of traffic.

I think Bitcoin is still the most valuable coin. You still have the right to expect the price of Bitcoin. But Bitcoin will not die without a change in it. Because the value of Bitcoin decreases due to many external causes, not from within Bitcoin itself.
I believe in Bitcoin. This is a more advanced stage of Bitcoin.

Of course, if you understand the technology, blockchain, etc., you can offer some unique idea, or even create your own coin. But otherwise, bitcoin has its own staff of highly professional specialists in the field of information technology, and I think they are working hard to improve bitcoin.

If you are not aware of it,bitcoin is an open source platform and everyone can contribute for a better product,if you think you have the skills you can contribute  ,one thing you have to understand is that not every bitcoin holder will not have the technical skills to be a developer,first and foremost bitcoin is not a consumer company like apple,amazon or yahoo to compare them with a crypto currency,first try to understand the difference between a corporate company and a decentralized currency and if you were sleeping,are you not aware of segwit and lightning network being discussed in the forum time and again.

Partly I agree, Bitcoin hasn't done any significant innovation if we compared to altcoins, altcoins have done many significant roadmap and features. But I believe the lightning network is surely a huge leap forward for Bitcoin to solve the scalability issues. I'm sure its enough to make the investors feel confident yet again.

I think you not heard about the lighting Network.It made many changes in the bitcoin world.After Sathoshi ,poon and his friends made a remarkable change in the Crypto currency.Now the transaction fee for bitcoin is reduced 5 times lower due to this LM.
And due to decentralized concept,bitcoin will not die at all.

Indeed they are have their own interests about the whole thing and am thinking they are being bullish about the whole thing, they are too divided to implement a solution that we know we are going to fix sooner and later am sure when more investors join again, we are going to see high fees again.

Bitcoin does not need to evolve, just this time too much that mimics the greatness of bitcoin. I can not mention it, for example Ethereum can be balanced and synergize with Bitcoin. should be like the others do not think to drop the bitcoin, better synergize to develop well.

This is new technology and It's still evolving. Now with Lightning Network it will be even better than before, with faster and cheaper transactions. And then it will not stop as technologies are always being improved. So, no worries from that side. The problem is governments regulating cryptocurrencies, although it's said to 'do no harm' with these regulations. Then maybe it will not be so decentralized and anonymous.

I think the bitcoin drop is not due to lack of innovation, but because there are too many bad issues about bitcoin. examples in many bitcoin states are prohibited, for example China and India. but bitcoin stops plunging after an issue that japanese legalize it.

@Pooya87 Thanks for being so quick to point out the error of OP's post! SegWit was a huge deal achieved last year, and Lightning Network is well underway. But having all these innovations will be pretty pointless if services don't adopt them (yes, they finally are and even the slowpokes like Coinbase will be rolling SW out soon).

Scalability is always going to be an issue, but it is a good issue to have. Think about it. If Bitcoin never got the kind of use we have today, the network would never get so congested. That it has an issue is a nice problem to have. I'd love for the network to grow even more, to the point that even LN will need to improve.

Perhaps the request to all Bitcoin holders would be to be a bit more aware of what's going on with Bitcoin and help foster the innovation. Advocate the services you use to quickly take up SW and LN, for example.

100,000$ what you mad we cant do anything we all are just bits of users currently there are more people selling tham demanding thats the reason for this downfall even if we all try to buy and increase the price some whale would easily dump it , currently all markets are low trying to pump it would dampen stability and future growths

man only 4 million bitcoin left to mine.so think btc price will go to 500k usd in near future.bcz blockchain is bitcoin.so no prblm at all.

What can we do to help it get to that level?

Agree. 9 years should be enough to see bitcoin doing those things but we end up seeing many bitcoin forms that wants to take it's place like bitcoincash. I'm sure that this year would be like "Show me what you got" for the government to make it officially legit and end the scam accusations.

I'm fond with your enthusiasm, and yes It's great to think of more innovative ways to upgrade bitcoin. I would recommend you read more about the soon to be released "Lightning Network" It aims to decrease the fees and introduce cross-blockchain technology which would take bitcoin and Crypto to the new level.

Advocacy! If you're a member of site or service that uses Bitcoin, encourage them to quickly upgrade to Segwit wallets. The majority of sites are still on legacy addresses. You don't have to force anyone to do it, but if enough users ask about it or even just talk about it, you bet the service owners will think more about it. As I understand, most are putting it off because of huge backlogs and unmanageable inputs, but with the mempool so low right now, it's the perfect time to consolidate wallets and just make one big move to Segwit. One site starts, second follows... domino effect.

Innovations are already applied.For example, Segwit was activated to solve the transaction issue and now lightning network is going to be activated for the same issue.Already,transaction fee has come down due to more people using Segwit addresses.But at the same time, innovations should not be in a way so that it totally affects the originality of a project itself.

I had predicted this would happen, surely someday there will be a new innovation that will drown Bitcoin, the world will continue to grow as well as digital currencies

I think it will be very difficult for us to control all Bitcoin users. That's because Bitcoin users have their own wants and needs, not to mention those who have big dreams and desires with Bitcoin. Many people will think to develop and take care of their lives first before taking care of other things. Especially for myself, of course I will prioritize my family rather than Bitcoin development. Although the development of Bitcoin is an advantage for all of us, but not everyone can agree and want to do something to help the development of Bitcoin. I hope that with the passage of time, people can be aware and begin to develop Bitcoin together.

Yes. Hold, hold and hold. Bitcoin price will increase in the future, that is sure, big future technology, that is Bitcoin.

what kind of innovation do you mean, no matter how much innovation this year might be tough if to reach the target at 500K, this year might be 50k more

50k price this year is very tough one but if this happen then all of us have to invest more in bitcoin and hold it. Now at this currenct time is a good choice to buy more bitcoin lets say if you are holding even 10 bitcoins until it reach to 50k that was huge huge amount of money for you.

Well, a very large and huge request is straightforward, do not be hamsters that if the price went down even by 5-10% immediately to run and sell bitcoins or another currency, as the more you are on the market, the faster the price runs down, and the larger players , the whales of the investment environment are stealing your money on your emotions! we stick to the end. up to a price of $ 1,000,000 for 1 bitcoin!)))

I agree with you on the point that altcoin developers are analysing and fixing bugs of Bitcoin tech better and faster. They are just ambitious to rival No1 crypto. I do believe that bitcoin devs do not stand aside and continue improving tech issues. I'd better focus on the issue of increasing public awareness and trust in cryptos and as a result more mass adoption.

Considering that in 2018 Bitcoin has fallen but it will not take long and it will grow up and this is the best way to earn money

The majority of the market is kept by about 70% of the Bitcoin dollar pair. For most of these services, authorization is required including sending scanned documents for verification.

It will be much easier for new users to try their hand if they do not have to worry about the drivers and the compatibility of their GPUs. It's so wonderful that anyone today can earn bitcoins on an equal footing with others, using only CPU resources.

It is true that earning bitcoin is now very reliable as all ordinary people can earn bitcoin and they can save their future with bitcoin, there is no risk mate so you should be confident for your GPU and your copperplate, rise and low happens in bitcoin so you will have to wait and let bitcoin grow at the time of low price, market sometime get very vastly high but sometime it use to decrease and at that time you will have to keep patience and hold your bitcoin. Earning is not very hard if you avoid panic selling to let your bitcoin grow faster.

Small individuals like us may not be able to change BTC, BTC to increase or decrease depending on the supply and demand market. And this supply or demand depends on the impact of some large countries around the world. But BTC prices depend on the whales, they speculate and hold large amounts of BTC. They adjust their prices to benefit from price differences. Small investors like us just follow the trend to make money.

The entire bitcoin system operates on blockade technology. This means that absolutely all transactions committed with each Bitcoin block are entered into an open database, and each user of the system can track them.

I think our desire is not enough. I think a price trend is also given by governments, banks, other financial bodies ... unfortunately.

No, Bitcoin price wasn't given base on banks , goverments or stuffs like that.
It's basically base on the supply and demand or simply buy and sell.
More people sell will make it down , opposite, more people buy it will make the price going up.

I agree with you, we must innovate so that bitcoin prices go up again. we have to issue good ideas for the development of bitcoin in the future. we must destroy bad news about bitcoin because bad news can drop the bitcoin price.

Reaching that far is great dream, yet, Bitcoin doesn't stop evolving so it might - but not as soon as now. Some core developers still processing of having a lightning network (I don't how fast is that), that will make Bitcoin more valuable.


You are right. That is why real estate business is one of the greatest investment of all time - except gold, the value is increasing as time goes by, but like what you said, we don't use real estate as payment solution.