What do you think? I think I might be close. I'm guessing $10,000 per bitcoin by then.
In 2020 we will for sure have passed the winklevoss prediction of 40.000 USD per coin..... Question is, will you still have all your bitcoins? what makes you think we'll see the price of bitcoin go over $40k per coin? if you think it will happen, make sure you go all in now, to have insane profits in 2020. keep dreaming. If you think its never going to happen, Wtf are you doing on a Bitcoin forum?? Whether you like it or not Bitcoin is gaining traction and its only a matter of time before that translates into higher value per btc Any other scenario doesn't make sense especially if you factor in the scarcity of the limited supply and the constant reward halvings |
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I personally go out of my way to avoid any company or site that advertises by spamming the forum's as well as ignoring anyone with a paid signature
If everyone did the same it would be up to the advertiser to police their own spamming campaign
And the forum may be rid of the blight that weighs it down currently....
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Also, now with the proposed gradual block size increase the more transactions happen, the larger the blocksize will be. I wonder how long this "be your own bank" can be sustainable before some other measures need to be introduced that wouldn’t require everyone to hold the full blockchain, just say the last X GB.
I agree. The mindset that tries to fill technology as it arrives should be resisted. We should be viewing this as a minimal resource system so that you don't necessarily need expensive 1st world infrastructure to participate. My opinion is probably on the other extreme to those that think throwing TB of disk space is a non-issue but my sentiment is valid, I think. We should be trying to put our energies into making Bitcoin resource agnostic, as far as it can be, and have design goals around low footprint, low bandwidth with the aim of being able to run full nodes over things like radio. The current mindset of a "huge blockchain is OK" is an anathema to a decentralized system pushing more and more control into infrastructure-rich people and societies and I would like to see a reversal of this. We I get your point about the blockchain growing too large to easily work with but I also agree with the other guy who said sooner or later its going to be infeasible for Everyone to have the whole blockchain and I hope the lead developers are close to a solution so future users will have the option of storing a certain x amount of blockchain The most recent 5 or 10GB etc would be fine imo or maybe 2 versions of the official client so power users can still run their own "bank" if they want to and a lite version similar to multibit that would enable secure use without the whole chain At the moment I don't think it's a problem (42GB) but Bitcoin is growing exponentially and they're will have to be lite options for half of the world that don't have the latest cpu and terabytes of storage and a fibre optic Internet connection to get it all in a reasonable amount of time The more Bitcoin takes off the more people will be looking at new solutions to the problem but there are solutions already and perhaps we are worrying about this too much at the moment since there is already a lot of alternative wallets to store your Bitcoin even today without needing the whole chain |
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i just checked the bitcoin folder and its currently 41.8GB  It makes no differnce to me as i have a few 1TB drives what laptop would 30 GB be a third of the hdd thesedays ? i rememeber trying to buy a replacement 120GB HDD about 2-3 years ago and the people in the shop laughed and said we dont sell those anymore (the smallest they had was 320 or 500GB even back then ) |
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um why are people complaining about blockchain size I mean 1tb drives aren't that expensive
I think there are a lot of students around and there money is an issue. Plus, if you need some special hardware for bitcoin (e.g. 1TB HDD) then it can be somewhat "exclusive" (In terms of running a full node, of course). As said, I stopped my full node from my laptop when the blockchain went around 30GB-ish. For me, that is a lot of space. If I can't keep it up 24/7 (or close), not much point anyway. how is 30 odd GB a lot of space ? what age of computer do you have ? |
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shocking how many people are still using the online exchanges as a "wallet" the only wallet thats 100% safe is one that you alone have the private keys anything else will end in tears if history is anything to go by  |
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um why are people complaining about blockchain size I mean 1tb drives aren't that expensive
I helped a friend download the blockchain a couple of days ago and set up a node, it only took 2 days to download and about 38 GB iirc on a 1tb external drive Might have been faster to use the torrent but we were not in a hurry anyway and the laptop was around 7 years old so probably the cpu would have kept us from going much faster I think most people could spare 38GB at the price drives are now, for the people who can't there is always multibit By the time he can fill that 1tb drive, it maybe several years down the line and storage and bandwidth will be much cheaper than now It should probably be around the same speed since there is headers-first synchronization. Just out of curiousity, did it took 2 actual days to download and what version are you using? Unless you have weak CPU and the external drives becomes a bottleneck, it should take slightly less than 1 day max. Torrent version is quite far behind so they can still take sometime to download the remaining blocks. Dont overestimate a 2008 system. 1000 USD got you for example an Asus X83VM-X1[1], with 2 cores, 4 Gigs of DDR2(!) ram and 320Gig HDD. That might not sound slow, but thats several CPU and 2 RAM generations old. I recently had a blackout and had to reindex the blockchain on a 2009 desktop AMD tripple core, similar HDD and RAM (only DDR3). I have no exact numbers, but I had to let it run over night, so I guess somewhere between 12 and 16 hours. Even worse it might be a netbook  I agree that the torrent no longer makes sense unless you have to sync several systems and have low bandwith. Thought even in that case you could just sync the machine with the fastest CPU/storrage first and let the rest connect exclusivly to it via LAN. [1] http://www.cnet.com/products/asus-x83vm-x1-core-2-duo-p8400-2-26-ghz-14-1-inch-tft/It wasn't a netbook thk fck lol It was a hp pavilion 17" entertainment laptop but spec was quite weak compared to modern equipment : Core 2 duo @ 2.26 with 4gb of ddr3 and a 500Gb sat and 1tb external seagate We put Bitcoin on the external because he's going to let it run as a node until it dies and the 1tb drive should last few years  |
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um why are people complaining about blockchain size I mean 1tb drives aren't that expensive
I helped a friend download the blockchain a couple of days ago and set up a node, it only took 2 days to download and about 38 GB iirc on a 1tb external drive Might have been faster to use the torrent but we were not in a hurry anyway and the laptop was around 7 years old so probably the cpu would have kept us from going much faster I think most people could spare 38GB at the price drives are now, for the people who can't there is always multibit By the time he can fill that 1tb drive, it maybe several years down the line and storage and bandwidth will be much cheaper than now |
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Yes, you will be a millionaire but not in today's dollars.
In 2020 dollars? The coins will keep creeping up in value particularly after the next halving, I think it's inevitable that the decimal point will be moved in the next few years as people make purchases with small fractions of a whole Bitcoin etc an easier system will be devised Just a matter of time and why stop at 100 btc? A million bucks was a lot of money years ago but now id want more to consider myself "wealthy" in any capital western city |
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Everyone who can run the official client as a node should run it 24/7 and keep the network strong
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snip
FUD ALERT.... QUOTED POSTER WANTS YOUR BTC FOR CHEAP! Yeah don't worry, no one listens to fonzie anymoreanymore ? lol |
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Well KNC is a significant player in this economy and they have a strong network to inform them of any upcoming events. This move would only confirm our worries that a massive event is going to happen soon that will move the price lower than anyone will expect without a realistic outlook of recovery.
9000 bts will not cause too much of a price drop, let them dump them cheap and they will be hoovered up |
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I would not sell my bitcoins what the irrespective value it reaches. I know future is uncertain and can't say where the value reaches in next 10 years But thinking on positive note lets say its value will increase and entire bitcoin community earn some profits out of it.
Then what do you plan to do with the coins if you're not going to sell them? At some point you're going to want to do something with them because if you don't they're essentially worthless. Something tells me if the price shot up to 1k or whatever you'd want to sell some of them. Some people are already wealthy in cash, property and other things etc but they might keep a few btc as well, like some millionaires today probably have a bit of gold or something else of value they don't intend to sell , satoshi could have bailed out at any time but he hasn't |
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They're will be an epic sell off the next time 1000usd is reached
It will be very amusing to those who still have coins if it keeps going to 5 or
10k......
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Bitcoin is already too big to fail, even without mainstream adoption it will still be used for porn, gambling, tax evasion, hiding money from divorce attorneys and a million other darknet uses....
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The btc I hold now are going to be left to probably my grandkids, I made enough profit already to live the rest of My days Thx to btc... I still think it's immensely undervalued and misunderstood as a technology though so I'm sure the price will rocket in the coming years Its like early days of Facebook or Microsoft or apple when nobody really knew about it or what it could do for them |
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tl;dr
Is the guy in jail yet?
Not in the UK prison system Complete smoke and mirrors in this Filthy thread to deflect the punishment from the Filthy sleazy cunts like Kennedy and Landon and ferrous who blatently robbed everyone.... |
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And now 42.53%. This goes very slowly after the people who are actually paying attention have upgraded. But it does go up, day after day.
It'll probably get big kicks when the new version gets bundled into various linux distributions for auto-upgrade to people who have the package installed.
I will run a full node soon as I get time with the new client so more people can download off my connection because its fast and unlimited usage |
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No. You will be a laughing stock.
Keep telling that yourself to sleep better night. I only hope you don't have a gun near you to not blow your head in 2019's xmas eve when Bitcoin is back above ATH again. going from 220 to 1200 in 5 years is not all that great an investment. Nobody said it would be easy. New technology is prone to suffer from bubbles, which shake off weak non long term hands. Buying at 1k or 200 will seem irrelevant in 10 to 20 years. Not sure what you said has anything to do with my post... care to explain? I'm saying that if bitcoin only reaches ATH in 5 years, by the end of 2019, I would be very disappointed. It would most likely mean that bitcoin will never go mainstream. I definitely wouldn't kill myself for a mere 6x increase in 5 years, as many, many things in this world can make such a return or a better return on investment that are MUCH less risky. 6x your stake is a pretty sweet profit..... Can you tell me what "many safe things" pays more than that?? |
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I don't know, but I wouldn't bet on it. The way the bitcoin value has been going down recently shows that intrest might be waning. I understand the concept that it will go up as the amount of possible bitcoin being mined, but with the trends present, it seems to be decreasing.
its just a current lack of "customer friendly" apploications and walets etc i believe Andreas when he says in around 2 years the market will be drasrtically differnent due to projects that are being worked on right now that may or may not be public info yet.... bitcoin doesnt need to replace the % to be insanely sucessful if it even got a % of all the wite transfers ,western unions and moneygrams accross the globe it could easily increase 100x fold in the blink of an eye total domination of any existing system is not required ,even if people who collect gold decided a few BTC would be a wise addition to their emergency fund the price could go insane in very little time |
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