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Title: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: Cryptodaddy05 on March 12, 2018, 01:53:56 PM Here’s Vitalik Buterin giving his long term outlook for BTC and LTC/other alts, which he thinks will likely go up in value long-term by at least the amount that world GDP increases - in a fascinating 4 minute video answer to a question from Felix, courtesy of ThomasJulianMiller:
https://youtu.be/VosfxChTxVg And what is the prediction for the rate of increase in world GDP in the long-term. Here’s a comprehensive PwC report that predicts the world GDP will increase 130% by 2050, from its 2016 levels: https://www.pwc.com/gx/en/issues/economy/the-world-in-2050.html So taking BTC’s price at end-2016 of $950, and assuming Buterin is right that it’s price will rise at the rate of world GDP - then the projected BTC price in 2050 would be $123,500 ($950 x 130)! That’s a 13,000% increase on the $950 2016 price, and a nice 1,280% increase on today’s $9,640 price! And I’m sure all of us who are in the first 0.5% of the world’s early adopters of Bitcoin and crypto would love to see a price like that for BTC in 2050, which is only 22 years away! But there’s more! The price of BTC and the successful alts should also increase by at least one more multiple, as use of BTC and alts and investment in them penetrates 10% or more of the world population - as is likely to have happened by then especially in the E7 nations. So a BTC price of $1,000,000 or more by 2050 ($124K*10=$1.24M) is not an unreasonable prediction, factoring in world growth plus BTC’s organic growth - and that $1M price would be a whopping 105,250% increase on the 2016 price, and a very nice 10,375% increase on today’s BTC price! And if Buterin’s well-reasoned prediction for the long term survival and growth of BTC and crypto pans out then when we’re finally able to look back at crypto prices with 20-year charts in 2050, we may well see that the crash now in prices even if they were to fall 90% from the Dec/Jan highs will look very similar to what are now only tiny blimps down in the early prices of Amazon and Apple in 2000 with the Dotcom crash as shown in the linked graphic - but which at the time in 2000 were massive 90% falls in the Amazon and Apple share prices, that very few people thought these companies could survive and recover from let alone make 50,000% gains in the 20 years to follow! https://imgur.com/a/CurnU Hindsight is a wonderful thing of course, for those of us who missed investing in the centralised companies monopolising and profiting from the Internet 2.0 - but Vitalik Buterin is a smart man who some call the genius of our age, and his potential foresight on where crypto stands and where it’s going shouldn’t be taken lightly. Hmmm getting in early this time on decentralised currency and the decentralised blockchain based Internet 3.0 anyone - food for thought! So .... 1. What do people think of Vitalik’s interesting answer here, and his long-term prediction and reasoning for BTC and altcoins survival and growth in value? 2. Do you agree a BTC price of $100k by 2050 is a reasonable expectation based just on world GDP growth, and that a price of $1M by 2050 is quite possible with world GDP growth plus 10% BTC organic growth/adoption? 3. Do you think LTC as mentioned by Buterin and other altcoins that survive and prosper will see similar gains of 13,000% by 2050 with just world GDP growth, or that they too may grow up to 100,000% by then with 10% organic growth/adoption thrown in as well? 4. Do these predictions help give you strong hands to hodl your BTC and favourite altcoins, and to buy more as the crypto market bottoms and sooner or later turns up to make new highs on its roller coaster long term ride? Just imagine if those Amazon and Apple charts are Bitcoins and the surviving successful altcoins charts in 20 years time - there may not be enough Lambos!! Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: qiman on March 12, 2018, 02:09:58 PM I might not be alive to see this but I am sure my descendants will be very pleased if this outcome arises. I am not a fan of price predictions myself because I have seen many false claims attached to the price of Bitcoin, but this seems much more realistic to me after a 22-25 year time span, than people claiming Bitcoin will be half a million USD by the end of 2020. Bitcoin should survive as a an asset type of currency and as it was the very first DIGITAL CURRENCY it claims that status. As to what portion though of the market cap it will hold by then, it will be very interesting to see and also what other altcoins, IF ANY, will overtake it with their new technological enhancements.
Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: matuson on March 12, 2018, 02:20:15 PM I don't believe in long-term forecasts. How can Vitalik know what will happen until 2050? If for any reason it will crash the US economy? Or will China try to attract investments through bitcoin?. This can have a very significant impact on the price of bitcoin. I don't care what happens. The main thing that the bitcoin live.
Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: carter34 on March 12, 2018, 02:35:36 PM I'm not really encouraging people to hodl coin to 2050 , thats so long. No coin will go straight to $1,000,000 at no time. It gradually will climb and fall.
Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: brightLIFE on March 12, 2018, 02:43:53 PM Here’s Vitalik Buterin giving his long term outlook for BTC and LTC/other alts, which he thinks will likely go up in value long-term by at least the amount that world GDP increases - in a fascinating 4 minute video answer to a question from Felix, courtesy of ThomasJulianMiller: Well if this things happens the holders now are really one of the billionaires soon, I think there will be a lot of billionaires people because of bitcoin soon if this prediction will come to be done soon in 2050. I know that everything is possible but let's always consider that we are humans and we are not perfect all our expectations and predictions sometimes are not perfect.https://youtu.be/VosfxChTxVg And what is the prediction for the rate of increase in world GDP in the long-term. Here’s a comprehensive PwC report that predicts the world GDP will increase 130% by 2050, from its 2016 levels: https://www.pwc.com/gx/en/issues/economy/the-world-in-2050.html So taking BTC’s price at end-2016 of $950, and assuming Buterin is right that it’s price will rise at the rate of world GDP - then the projected BTC price in 2050 would be $123,500 ($950 x 130)! That’s a 13,000% increase on the $950 2016 price, and a nice 1,280% increase on today’s $9,640 price! And I’m sure all of us who are in the first 0.5% of the world’s early adopters of Bitcoin and crypto would love to see a price like that for BTC in 2050, which is only 22 years away! But there’s more! The price of BTC and the successful alts should also increase by at least one more multiple, as use of BTC and alts and investment in them penetrates 10% or more of the world population - as is likely to have happened by then especially in the E7 nations. So a BTC price of $1,000,000 or more by 2050 ($124K*10=$1.24M) is not an unreasonable prediction, factoring in world growth plus BTC’s organic growth - and that $1M price would be a whopping 105,250% increase on the 2016 price, and a very nice 10,375% increase on today’s BTC price! And if Buterin’s well-reasoned prediction for the long term survival and growth of BTC and crypto pans out then when we’re finally able to look back at crypto prices with 20-year charts in 2050, we may well see that the crash now in prices even if they were to fall 90% from the Dec/Jan highs will look very similar to what are now only tiny blimps down in the early prices of Amazon and Apple in 2000 with the Dotcom crash as shown in the linked graphic - but which at the time in 2000 were massive 90% falls in the Amazon and Apple share prices, that very few people thought these companies could survive and recover from let alone make 50,000% gains in the 20 years to follow! https://imgur.com/a/CurnU Hindsight is a wonderful thing of course, for those of us who missed investing in the centralised companies monopolising and profiting from the Internet 2.0 - but Vitalik Buterin is a smart man who some call the genius of our age, and his potential foresight on where crypto stands and where it’s going shouldn’t be taken lightly. Hmmm getting in early this time on decentralised currency and the decentralised blockchain based Internet 3.0 anyone - food for thought! So .... 1. What do people think of Vitalik’s interesting answer here, and his long-term prediction and reasoning for BTC and altcoins survival and growth in value? 2. Do you agree a BTC price of $100k by 2050 is a reasonable expectation based just on world GDP growth, and that a price of $1M by 2050 is quite possible with world GDP growth plus 10% BTC organic growth/adoption? 3. Do you think LTC as mentioned by Buterin and other altcoins that survive and prosper will see similar gains of 13,000% by 2050 with just world GDP growth, or that they too may grow up to 100,000% by then with 10% organic growth/adoption thrown in as well? 4. Do these predictions help give you strong hands to hodl your BTC and favourite altcoins, and to buy more as the crypto market bottoms and sooner or later turns up to make new highs on its roller coaster long term ride? Just imagine if those Amazon and Apple charts are Bitcoins and the surviving successful altcoins charts in 20 years time - there may not be enough Lambos!! Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: buwaytress on March 12, 2018, 02:50:21 PM Dude, 130% increase is not the same at all as x130 increasw. That's just a 2.3x increase. By that estimate, Bitcoin price would be just under $2,300 in 2050... Perfectly plausible by me! Can't view the video yet as am on extremely poor mobile, but pretty sure you jumped the gun here.
In any case, if we're accepting this sober view as evidence of Buterin's economic nous, then my small comfort is that I should probably be dead by 2050, having either sold all my bitcoin or left it as inheritance. Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: BillCoin on March 12, 2018, 02:59:23 PM Here’s Vitalik Buterin giving his long term outlook for BTC and LTC/other alts, which he thinks will likely go up in value long-term by at least the amount that world GDP increases - in a fascinating 4 minute video answer to a question from Felix, courtesy of ThomasJulianMiller: https://youtu.be/VosfxChTxVg And what is the prediction for the rate of increase in world GDP in the long-term. Here’s a comprehensive PwC report that predicts the world GDP will increase 130% by 2050, from its 2016 levels: https://www.pwc.com/gx/en/issues/economy/the-world-in-2050.html So taking BTC’s price at end-2016 of $950, and assuming Buterin is right that it’s price will rise at the rate of world GDP - then the projected BTC price in 2050 would be $123,500 ($950 x 130)! That’s a 13,000% increase on the $950 2016 price, and a nice 1,280% increase on today’s $9,640 price! And I’m sure all of us who are in the first 0.5% of the world’s early adopters of Bitcoin and crypto would love to see a price like that for BTC in 2050, which is only 22 years away! But there’s more! The price of BTC and the successful alts should also increase by at least one more multiple, as use of BTC and alts and investment in them penetrates 10% or more of the world population - as is likely to have happened by then especially in the E7 nations. So a BTC price of $1,000,000 or more by 2050 ($124K*10=$1.24M) is not an unreasonable prediction, factoring in world growth plus BTC’s organic growth - and that $1M price would be a whopping 105,250% increase on the 2016 price, and a very nice 10,375% increase on today’s BTC price! And if Buterin’s well-reasoned prediction for the long term survival and growth of BTC and crypto pans out then when we’re finally able to look back at crypto prices with 20-year charts in 2050, we may well see that the crash now in prices even if they were to fall 90% from the Dec/Jan highs will look very similar to what are now only tiny blimps down in the early prices of Amazon and Apple in 2000 with the Dotcom crash as shown in the linked graphic - but which at the time in 2000 were massive 90% falls in the Amazon and Apple share prices, that very few people thought these companies could survive and recover from let alone make 50,000% gains in the 20 years to follow! https://imgur.com/a/CurnU Hindsight is a wonderful thing of course, for those of us who missed investing in the centralised companies monopolising and profiting from the Internet 2.0 - but Vitalik Buterin is a smart man who some call the genius of our age, and his potential foresight on where crypto stands and where it’s going shouldn’t be taken lightly. Hmmm getting in early this time on decentralised currency and the decentralised blockchain based Internet 3.0 anyone - food for thought! So .... 1. What do people think of Vitalik’s interesting answer here, and his long-term prediction and reasoning for BTC and altcoins survival and growth in value? 2. Do you agree a BTC price of $100k by 2050 is a reasonable expectation based just on world GDP growth, and that a price of $1M by 2050 is quite possible with world GDP growth plus 10% BTC organic growth/adoption? 3. Do you think LTC as mentioned by Buterin and other altcoins that survive and prosper will see similar gains of 13,000% by 2050 with just world GDP growth, or that they too may grow up to 100,000% by then with 10% organic growth/adoption thrown in as well? 4. Do these predictions help give you strong hands to hodl your BTC and favourite altcoins, and to buy more as the crypto market bottoms and sooner or later turns up to make new highs on its roller coaster long term ride? Just imagine if those Amazon and Apple charts are Bitcoins and the surviving successful altcoins charts in 20 years time - there may not be enough Lambos!! I thought that vitalik is too busy to make some price speculations. Personally I am against any price predicting because I believe it's impossible to predict whether something will go up or down. The are so many factors, such as regulators, satoshi nakamoto, stock market bubble, and etc. There is simply no way of knowing the future of bitcoin and those who are trying to do that are totally gamblers,. Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: yojodojo21 on March 12, 2018, 03:00:25 PM I don't even think this statement of OP deserves an attention or not but let me look at it, if he meditates to it. VITALIK BUTERIN!is a nobody compared to satoshi nakamoto or even admin theymos Himself, LOL, i don't care whoever announces what would be the price in the future unless it is satoshi nakamoto Himself announce it! Get it? sorry for my words.
Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: cheefbuza on March 12, 2018, 03:00:42 PM Here’s Vitalik Buterin giving his long term outlook for BTC and LTC/other alts, which he thinks will likely go up in value long-term by at least the amount that world GDP increases - in a fascinating 4 minute video answer to a question from Felix, courtesy of ThomasJulianMiller: https://youtu.be/VosfxChTxVg And what is the prediction for the rate of increase in world GDP in the long-term. Here’s a comprehensive PwC report that predicts the world GDP will increase 130% by 2050, from its 2016 levels: https://www.pwc.com/gx/en/issues/economy/the-world-in-2050.html So taking BTC’s price at end-2016 of $950, and assuming Buterin is right that it’s price will rise at the rate of world GDP - then the projected BTC price in 2050 would be $123,500 ($950 x 130)! That’s a 13,000% increase on the $950 2016 price, and a nice 1,280% increase on today’s $9,640 price! And I’m sure all of us who are in the first 0.5% of the world’s early adopters of Bitcoin and crypto would love to see a price like that for BTC in 2050, which is only 22 years away! But there’s more! The price of BTC and the successful alts should also increase by at least one more multiple, as use of BTC and alts and investment in them penetrates 10% or more of the world population - as is likely to have happened by then especially in the E7 nations. So a BTC price of $1,000,000 or more by 2050 ($124K*10=$1.24M) is not an unreasonable prediction, factoring in world growth plus BTC’s organic growth - and that $1M price would be a whopping 105,250% increase on the 2016 price, and a very nice 10,375% increase on today’s BTC price! And if Buterin’s well-reasoned prediction for the long term survival and growth of BTC and crypto pans out then when we’re finally able to look back at crypto prices with 20-year charts in 2050, we may well see that the crash now in prices even if they were to fall 90% from the Dec/Jan highs will look very similar to what are now only tiny blimps down in the early prices of Amazon and Apple in 2000 with the Dotcom crash as shown in the linked graphic - but which at the time in 2000 were massive 90% falls in the Amazon and Apple share prices, that very few people thought these companies could survive and recover from let alone make 50,000% gains in the 20 years to follow! https://imgur.com/a/CurnU Hindsight is a wonderful thing of course, for those of us who missed investing in the centralised companies monopolising and profiting from the Internet 2.0 - but Vitalik Buterin is a smart man who some call the genius of our age, and his potential foresight on where crypto stands and where it’s going shouldn’t be taken lightly. Hmmm getting in early this time on decentralised currency and the decentralised blockchain based Internet 3.0 anyone - food for thought! So .... 1. What do people think of Vitalik’s interesting answer here, and his long-term prediction and reasoning for BTC and altcoins survival and growth in value? 2. Do you agree a BTC price of $100k by 2050 is a reasonable expectation based just on world GDP growth, and that a price of $1M by 2050 is quite possible with world GDP growth plus 10% BTC organic growth/adoption? 3. Do you think LTC as mentioned by Buterin and other altcoins that survive and prosper will see similar gains of 13,000% by 2050 with just world GDP growth, or that they too may grow up to 100,000% by then with 10% organic growth/adoption thrown in as well? 4. Do these predictions help give you strong hands to hodl your BTC and favourite altcoins, and to buy more as the crypto market bottoms and sooner or later turns up to make new highs on its roller coaster long term ride? Just imagine if those Amazon and Apple charts are Bitcoins and the surviving successful altcoins charts in 20 years time - there may not be enough Lambos!! By 2050, Bitcoin can be everything or nothing. 2050 is way too far to be predicted, so many regulations can be till then. So many cases. Who knows? Maybe Satoshi Nakamoto will pop out and expose his rabbit from the hat? The one thing that Vitalik knows about 2050 is that he knows nothing. It might be his vision to achieve all those goals but 30 years can do a lot, 30 years ago the internet was nothing. Today? It's everything! So yea. My vision is that Bitcoin will become a wealth for rich people (like holding apartment) and there will be cryptocurrencies that will be made by countries. USA's blockchain, China's blockchain and of course many platforms that will allow trading, exchanges and etc. I do believe cryptocurrencies and blockchain will big a big part of this world, especially blockchain. But it's my vision, nothing more than that. Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: aoluain on March 12, 2018, 03:05:48 PM I might not be alive to see this but I am sure my descendants will be very pleased if this outcome arises. I am not a fan of price predictions myself because I have seen many false claims attached to the price of Bitcoin, but this seems much more realistic to me after a 22-25 year time span, than people claiming Bitcoin will be half a million USD by the end of 2020. Bitcoin should survive as a an asset type of currency and as it was the very first DIGITAL CURRENCY it claims that status. As to what portion though of the market cap it will hold by then, it will be very interesting to see and also what other altcoins, IF ANY, will overtake it with their new technological enhancements. me too, there is a good chance I wont be around to see this but hopefully some of the BTC I earn, trade and buy now will be in the hands of my descendants. we all know this is speculation based on a theory which sounds feasible and could yield big returns on todays achievements. I firmly believe BTC will be around in 2050, thats another 32 years so anything can and will happen. Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: jseverson on March 12, 2018, 03:05:55 PM ...the world GDP will increase 130% by 2050, from its 2016 levels... So taking BTC’s price at end-2016 of $950, and assuming Buterin is right that it’s price will rise at the rate of world GDP - then the projected BTC price in 2050 would be $123,500 ($950 x 130)! That’s a 13,000% increase on the $950 2016 price, and a nice 1,280% increase on today’s $9,640 price! I think you typed a couple of extra zeroes buddy lol. It's a sound assumption, but we're way past 30% growth from 2016 levels. Either way, you shouldn't be deciding what to do based on other people's predictions. You may use their reasoning as a deciding factor, but pushing through blindly is only going to end in disaster. This would have been a very compelling argument for hodling if the numbers were right lol. Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: batang_bitcoin on March 12, 2018, 03:12:05 PM How can Vitalik know what will happen until 2050? He's speculating, no one knows what will happen beyond these years.I don't even think this statement of OP deserves an attention or not but let me look at it, if he meditates to it. VITALIK BUTERIN!is a nobody compared to satoshi nakamoto or even admin theymos Himself, LOL, i don't care whoever announces what would be the price in the future unless it is satoshi nakamoto Himself announce it! Get it? sorry for my words. Vitalik is also well known because of ETH and he can say whatever he want to say. But I like what you said, let's wait if satoshi will come out soon. ;DTitle: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: hodlftw on March 12, 2018, 03:21:46 PM Impossible to even make a prediction a couple of years into the future and now we are going for 2050? Nobody can accurately even make a prediction for the end of this year, yet we want to extrapolate that far? Please give me a break.
Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: crypt0heaven on March 12, 2018, 03:44:52 PM forecasting 30 a price 30 years into the future is very difficult. A human could not take into account all the different variables that could impact price in the distant future.
Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: bitChipper on March 12, 2018, 03:50:53 PM singularity....tech will move so fast in the next 30 years the world could be night and day to what it is now, bitcoin could still have its place but it could be completely different...
who knows, but i honestly dont think the crazy predictions are that outlandish when you look at the current fiat system i still think one of the biggest driving factors of crypto currency adoption is global financial instability, people forget about cryphrus in 2013, if that happens on a bigger scale in europe...bitcoin price will rip so hard and so fast it will be insane Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: ralle14 on March 12, 2018, 04:03:50 PM Impossible to even make a prediction a couple of years into the future and now we are going for 2050? Nobody can accurately even make a prediction for the end of this year, yet we want to extrapolate that far? Please give me a break. It's only a prediction you don't have to believe in what everybody says here. This can be a good estimation but after the 13,000% typo the prediction seems inaccurate imo. And I’m sure all of us who are in the first 0.5% of the world’s early adopters of Bitcoin and crypto would love to see a price like that for BTC in 2050, which is only 22 years away! Another typo. 22 years from now is 2040. The prediction feels a bit rushed with some of these typos.I think you typed a couple of extra zeroes buddy lol. It's a sound assumption, but we're way past 30% growth from 2016 levels. Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: Emin90 on March 12, 2018, 04:34:28 PM You can't know it all in advance with certainty but is possible and this course of events, seeing as evolving and gaining popularity bitcoin is quite possibly.Will follow the news and analyze the market to be witnessing the rise of bitcoin.
Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: Cryptodaddy05 on March 12, 2018, 09:44:51 PM Impossible to even make a prediction a couple of years into the future and now we are going for 2050? Nobody can accurately even make a prediction for the end of this year, yet we want to extrapolate that far? Please give me a break. It's only a prediction you don't have to believe in what everybody says here. This can be a good estimation but after the 13,000% typo the prediction seems inaccurate imo. And I’m sure all of us who are in the first 0.5% of the world’s early adopters of Bitcoin and crypto would love to see a price like that for BTC in 2050, which is only 22 years away! Another typo. 22 years from now is 2040. The prediction feels a bit rushed with some of these typos.I think you typed a couple of extra zeroes buddy lol. It's a sound assumption, but we're way past 30% growth from 2016 levels. Yes I did muck up the mathematics on the GDP increase sorry - never my strong point but that is no excuse. I think I was more thinking of the 50,000% increase in the big internet companies that arose from the ashes of the Dotcom bubble, and whether the BTC graph will look like that with the retrospectoscope one day. And I think that where I got the 20 years in the future idea stuck in my head too, with 2050 being 30 years away of course. It’s important to be as exact and correct as possible with information posted for others, and I will take more care with this. Thank you all for the feedback. Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: GoldenLad on March 12, 2018, 09:57:18 PM I think 2050 is too long for bitcoin to see that price. Most influencers investors predicted 2030 and I sort of agreed even knowing fully well that bitcoin and any other cryptocurrency is unpredictable. Disregarding this his long thesis, If this guy is saying this with so mu much confident then probably has an insider information cause of all this whale investors can be manipulating bitcoin price and we are unaware.
Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: onnz423 on March 12, 2018, 10:06:41 PM 1. What do people think of Vitalik’s interesting answer here, and his long-term prediction and reasoning for BTC and altcoins survival and growth in It's strange that Vitalik would paint such a rosy picture for Bitcoin's future. Isn't Ethereum supposed to be superior in pretty much every way? If so, he should predict bitcoin to be close to zero, whilst ETH would be closer than $1m. Doesn't seem like he has much faith in his coin. Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: avikz on March 12, 2018, 10:15:01 PM 1. What do people think of Vitalik’s interesting answer here, and his long-term prediction and reasoning for BTC and altcoins survival and growth in value? 2. Do you agree a BTC price of $100k by 2050 is a reasonable expectation based just on world GDP growth, and that a price of $1M by 2050 is quite possible with world GDP growth plus 10% BTC organic growth/adoption? Absolutely it is possible. If bitcoin can reach upto 20k in 2017, it can easily reach 100k by 2050. We are yet to discover the vast application possibility of blockchain yet. It is just a p2p currency and an amazing investment as of now, but who knows what the future holds? I am sure majority of the countries will adopt bit by that time and people will be actively using Cryptocurrency by 2050. So 100k or even higher value is very much possible. At least I am optimistic about it. Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: vintages on March 12, 2018, 11:07:09 PM Here we go with another prediction :-\ seriously, I don't know if I am the only one but I am seriously getting tried of one influencer investors quoting a long note why the price of bitcoin will be this or that in a supposed year. Though, this guy is realistic, cause its possible for bitcoin to see that price in 2050. From now till then, a lot of things might have happened, let's just wait till then to testify.
Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: Edward Finney on March 13, 2018, 12:01:12 AM I think the reasoning behind his prediction have been more measured than any other 100k plus prediction I've heard. I would say yes this is a very realistic possibility if not an understatement! His value prediction is based on bitcoin only rising in value at the rate of gdp . I think if still around in 2050 we will be seeing a million dollar coin and yes I see LTC going with it as the silver to BTC gold
Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: nikola22 on March 13, 2018, 12:16:52 AM There are too many predictions nowadays but most of them are failed. Noone can predict the price of bitcoin till the end of 2018. And what to say about forecast for 30 years ))
Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: jeremypwr on March 13, 2018, 12:51:35 AM As many others have said, predictions for bitcoin and other cryptos in almost pointless and should not be taken too seriously.
In reality, anything at any time can happen, so it's not a good idea to put all of your chickens into one basket. Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: Ondongeric18 on March 13, 2018, 01:00:45 AM This idea is very nice. Should it rise up to that value it would be the talk of the town. Everybody will be investing and watching over it. It might happen that there will be groups pushing regulations. Remember that the amount is no joke. Hackers will also be a big problem as they might find it the best place for finding money. More like digging golds but online. This is just a scenario which I think could happen but I believe that the one's who are protecting bitcoins will be doing their best to protect it from these groups of people. Let the bitcoins live for the better.
Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: BitHodler on March 13, 2018, 01:27:41 AM Isn't Ethereum supposed to be superior in pretty much every way? If so, he should predict bitcoin to be close to zero, whilst ETH would be closer than $1m. Doesn't seem like he has much faith in his coin. Vitalik isn't a fool like the majority of the people here are. It's the people constantly picking altcoins to be the potential Bitcoin killer, and not those behind the coins, because they know how much of an important role Bitcoin has.Vitalik understands that Ethereum's main purpose isn't necessarily to compete with Bitcoin, but more so to follow its own path. Bitcoin and Ethereum are completely different protocols. Point is that as long as Bitcoin keeps going up, the entire altcoin market keeps going up in terms of their fiat value. If you look at how the entire market has developed itself last year, then you understand how important Bitcoin is. Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: September11Myth on March 16, 2018, 11:20:51 PM This prediction is totally wrong and for a number of reasons. We live in super complex times and we are witnessing the exponential rise of a lot of world's tendencies. This makes our system a very chaotic one, which means future becomes rapidly unpredictable, the more you depart from the present time. We might even already have had the technological singularity by 2050!
Thus predicting the price of Bitcoin for year 2050 is simply ridiculous. The only think I'm pretty sure is that Bitcoin won't exist at all in 2050. And by the way, most of the thing we actually know won't probably either. Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: krigger on March 18, 2018, 12:29:34 PM I can never understand why people bother themselves trying to predict what happens to coins so far into the future, we can't even predict what is happening to bitcoin right now and what will happen to bitcoin in the next week or next month. Focus on the present and watch the market move naturally. No one should take predictions like this at face value, what matters is the market now and your coins in your wallet.
Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: Naficopa on March 18, 2018, 12:59:09 PM No one can predict what will happen by 2050. It does not matter who he is. So many different things can happen that will affect the price of bitcoin, including the fact that it may cease to exist until then.
Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: maksimukr1989 on June 19, 2018, 10:32:12 AM We see that there is no stability in the cryptocurrency.The price can be unpredictable.But I don't think it can jump that much.
Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: Palmerson on June 19, 2018, 10:42:23 AM 1. What do people think of Vitalik’s interesting answer here, and his long-term prediction and reasoning for BTC and altcoins survival and growth in It's strange that Vitalik would paint such a rosy picture for Bitcoin's future. Isn't Ethereum supposed to be superior in pretty much every way? If so, he should predict bitcoin to be close to zero, whilst ETH would be closer than $1m. Doesn't seem like he has much faith in his coin. Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: boynamnhi on June 19, 2018, 11:06:25 AM Here’s Vitalik Buterin giving his long term outlook for BTC and LTC/other alts, which he thinks will likely go up in value long-term by at least the amount that world GDP increases - in a fascinating 4 minute video answer to a question from Felix, courtesy of ThomasJulianMiller: You can see that with the fluctuations of the market at the moment, bitcoin prices are constantly fluctuating and falling sharply, we can not predict what. Bitocin prices are currently at $ 6700 and are down more than 70% from the end of 2017, when bitcoins reach $ 19800, so we do not know what the bitcoin will be in 2050.https://youtu.be/VosfxChTxVg And what is the prediction for the rate of increase in world GDP in the long-term. Here’s a comprehensive PwC report that predicts the world GDP will increase 130% by 2050, from its 2016 levels: https://www.pwc.com/gx/en/issues/economy/the-world-in-2050.html So taking BTC’s price at end-2016 of $950, and assuming Buterin is right that it’s price will rise at the rate of world GDP - then the projected BTC price in 2050 would be $123,500 ($950 x 130)! That’s a 13,000% increase on the $950 2016 price, and a nice 1,280% increase on today’s $9,640 price! And I’m sure all of us who are in the first 0.5% of the world’s early adopters of Bitcoin and crypto would love to see a price like that for BTC in 2050, which is only 22 years away! But there’s more! The price of BTC and the successful alts should also increase by at least one more multiple, as use of BTC and alts and investment in them penetrates 10% or more of the world population - as is likely to have happened by then especially in the E7 nations. So a BTC price of $1,000,000 or more by 2050 ($124K*10=$1.24M) is not an unreasonable prediction, factoring in world growth plus BTC’s organic growth - and that $1M price would be a whopping 105,250% increase on the 2016 price, and a very nice 10,375% increase on today’s BTC price! And if Buterin’s well-reasoned prediction for the long term survival and growth of BTC and crypto pans out then when we’re finally able to look back at crypto prices with 20-year charts in 2050, we may well see that the crash now in prices even if they were to fall 90% from the Dec/Jan highs will look very similar to what are now only tiny blimps down in the early prices of Amazon and Apple in 2000 with the Dotcom crash as shown in the linked graphic - but which at the time in 2000 were massive 90% falls in the Amazon and Apple share prices, that very few people thought these companies could survive and recover from let alone make 50,000% gains in the 20 years to follow! https://imgur.com/a/CurnU Hindsight is a wonderful thing of course, for those of us who missed investing in the centralised companies monopolising and profiting from the Internet 2.0 - but Vitalik Buterin is a smart man who some call the genius of our age, and his potential foresight on where crypto stands and where it’s going shouldn’t be taken lightly. Hmmm getting in early this time on decentralised currency and the decentralised blockchain based Internet 3.0 anyone - food for thought! So .... 1. What do people think of Vitalik’s interesting answer here, and his long-term prediction and reasoning for BTC and altcoins survival and growth in value? 2. Do you agree a BTC price of $100k by 2050 is a reasonable expectation based just on world GDP growth, and that a price of $1M by 2050 is quite possible with world GDP growth plus 10% BTC organic growth/adoption? 3. Do you think LTC as mentioned by Buterin and other altcoins that survive and prosper will see similar gains of 13,000% by 2050 with just world GDP growth, or that they too may grow up to 100,000% by then with 10% organic growth/adoption thrown in as well? 4. Do these predictions help give you strong hands to hodl your BTC and favourite altcoins, and to buy more as the crypto market bottoms and sooner or later turns up to make new highs on its roller coaster long term ride? Just imagine if those Amazon and Apple charts are Bitcoins and the surviving successful altcoins charts in 20 years time - there may not be enough Lambos!! I very much hope the bitcoin prices hit the $ 100k mark. Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: mr.nby on June 19, 2018, 11:15:19 AM We see that there is no stability in the cryptocurrency.The price can be unpredictable.But I don't think it can jump that much. Anticipating for such a long period of time is completely without purpose. No matter what expert does it. There are many factors affecting the price that such forecasts become just guessing. Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: crypto_futurer on July 01, 2018, 05:28:46 PM Forecasts for 30 years ahead do not mean anything at all. The most experienced analysts predicting a price even for 1 year are still mistaken. Buterin is not an analyst and this is not a reasonable forecast.
Title: Re: BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN! Post by: darewaller on July 03, 2018, 08:02:52 AM Here’s Vitalik Buterin giving his long term outlook for BTC and LTC/other alts, which he thinks will likely go up in value long-term by at least the amount that world GDP increases - in a fascinating 4 minute video answer to a question from Felix, courtesy of ThomasJulianMiller: Lol that’s a very long time and I might not even have interest in Bitcoin by then. But anyway, whatever happens then I hope it’s for the good of Bitcoin, though I’m not the type of person that believes all these predictions. All they are fond of predicting is that Bitcoin will go up which never happens, and they never predict the negative things that will happen. https://youtu.be/VosfxChTxVg And what is the prediction for the rate of increase in world GDP in the long-term. Here’s a comprehensive PwC report that predicts the world GDP will increase 130% by 2050, from its 2016 levels: https://www.pwc.com/gx/en/issues/economy/the-world-in-2050.html So taking BTC’s price at end-2016 of $950, and assuming Buterin is right that it’s price will rise at the rate of world GDP - then the projected BTC price in 2050 would be $123,500 ($950 x 130)! That’s a 13,000% increase on the $950 2016 price, and a nice 1,280% increase on today’s $9,640 price! And I’m sure all of us who are in the first 0.5% of the world’s early adopters of Bitcoin and crypto would love to see a price like that for BTC in 2050, which is only 22 years away! But there’s more! The price of BTC and the successful alts should also increase by at least one more multiple, as use of BTC and alts and investment in them penetrates 10% or more of the world population - as is likely to have happened by then especially in the E7 nations. So a BTC price of $1,000,000 or more by 2050 ($124K*10=$1.24M) is not an unreasonable prediction, factoring in world growth plus BTC’s organic growth - and that $1M price would be a whopping 105,250% increase on the 2016 price, and a very nice 10,375% increase on today’s BTC price! And if Buterin’s well-reasoned prediction for the long term survival and growth of BTC and crypto pans out then when we’re finally able to look back at crypto prices with 20-year charts in 2050, we may well see that the crash now in prices even if they were to fall 90% from the Dec/Jan highs will look very similar to what are now only tiny blimps down in the early prices of Amazon and Apple in 2000 with the Dotcom crash as shown in the linked graphic - but which at the time in 2000 were massive 90% falls in the Amazon and Apple share prices, that very few people thought these companies could survive and recover from let alone make 50,000% gains in the 20 years to follow! https://imgur.com/a/CurnU Hindsight is a wonderful thing of course, for those of us who missed investing in the centralised companies monopolising and profiting from the Internet 2.0 - but Vitalik Buterin is a smart man who some call the genius of our age, and his potential foresight on where crypto stands and where it’s going shouldn’t be taken lightly. Hmmm getting in early this time on decentralised currency and the decentralised blockchain based Internet 3.0 anyone - food for thought! So .... 1. What do people think of Vitalik’s interesting answer here, and his long-term prediction and reasoning for BTC and altcoins survival and growth in value? 2. Do you agree a BTC price of $100k by 2050 is a reasonable expectation based just on world GDP growth, and that a price of $1M by 2050 is quite possible with world GDP growth plus 10% BTC organic growth/adoption? 3. Do you think LTC as mentioned by Buterin and other altcoins that survive and prosper will see similar gains of 13,000% by 2050 with just world GDP growth, or that they too may grow up to 100,000% by then with 10% organic growth/adoption thrown in as well? 4. Do these predictions help give you strong hands to hodl your BTC and favourite altcoins, and to buy more as the crypto market bottoms and sooner or later turns up to make new highs on its roller coaster long term ride? Just imagine if those Amazon and Apple charts are Bitcoins and the surviving successful altcoins charts in 20 years time - there may not be enough Lambos!! All the predictions I have seen ever since I got into investing in BTC were all false and not even a single one was correct. Even last year, no one was able to predict that the price will reach $19k, I can remember that what they predicted was $10k,but I wasn’t $10k rather it got above that. And when the price was around $17k or so, they were predicting that it will reach $20k, but that never happened rather it stopped at $19k😑. So they are always wrong. |