Tell me your predictions about Bitcoin

[bachlovesstories]

What is the obstacles, challenges and problems that Bitcoin can face it in 5 years? How we can help Bitcoin to take more authoritative place in the world of currency system?

[1713910884]

1713910884

[RappelzReborn]

I don't think that Bitcoin is going to die anytime soon personally because it's already spreading and spreading and we see a lot of companies (big ones) like Namecheap , Microsoft etc ... starting to accepting it as Payement method which is pretty good . for what comes to the price I'd say it will be around 600$ on the Next halving block reward which should me on the end of 2016 .

[Amph]

i can not think of any other big issue besides the TX limit, for now or for the future, bitcoin need to get out of the beta phase, where it is seems stuck forever

possible obstacles would be regulation around the world(so not just one country...) and base security issue, to avoid new users losing their bitcoin

then you have a bunch of small pesky problem, like confirmation time(side chain can solve this), slow sync(checkpoint can solve this), 51% attack(ignoring the whole thing about "the longest chain matter more" can solve this) ecc...

[Harry Hood]

Predicting the future is pointless but can be a fun discussion. I don't have any grand opinion - I foresee the usual obstacles: 1) Slow adoptions, 2) Challenged perception issues from the uninformed, 3) Potentially some dilution by competing crypto currencies.

I have stronger opinions on what needs to be done to help Bitcoin. Bitcoin needs to become more familiar with a greater part of the population. Not that the population needs to use it but the population needs to be more aware of it, to the point that it's not a mystery or clouded by misconception. This can be done easiest by mainstream businesses accepting bitcoin for payment, having the "Bitcoin accepted here!" signs next to registers. Adoption by the broad population doesn't need misconceptions to be explained, they just need to see their neighborhood and nationwide stores use it...most people won't even be curious enough to care about the misconceptions at that point. They'll see - Carrefour accepts it? It must be good!

[bryant.coleman]

The biggest threat is going to come within the Bitcoin community itself. If the idiots within the Bitcoin foundation decides to change the 21 million cap, then it will ultimately result in the death of Bitcoin. In my opinion, the threats from within are more serious when compared to any threat which we are likely to face from the authoritarian governments.

[LiteCoinGuy]

The biggest threat is going to come within the Bitcoin community itself. If the idiots within the Bitcoin foundation decides to change the 21 million cap, then it will ultimately result in the death of Bitcoin. In my opinion, the threats from within are more serious when compared to any threat which we are likely to face from the authoritarian governments.

they can decide what they want but no one will ever follow this path.

[bit1]

The biggest threat is going to come within the Bitcoin community itself. If the idiots within the Bitcoin foundation decides to change the 21 million cap, then it will ultimately result in the death of Bitcoin. In my opinion, the threats from within are more serious when compared to any threat which we are likely to face from the authoritarian governments.

Wait a second,

       Are they doing that?   do you have a link?   If they  change the 21 million cap very peoples will be angry.

[gentlemand]

Wait a second,

       Are they doing that?   do you have a link?   If they  change the 21 million cap very peoples will be angry.

He mentioned it here

http://cointelegraph.com/news/114648/jon-matonis-the-bitcoin-ecosystem-will-soon-need-a-reference-interest-rate-similar-to-libor

But not his own proposal, just that the current block size debate reflects on how a potential increase in coins and thus the block reward might play out.

[Mehek]

What is the obstacles, challenges and problems that Bitcoin can face it in 5 years? How we can help Bitcoin to take more authoritative place in the world of currency system?

Anything could happen really.The situation is like Schrodinger's cat.  But I would say chances are more likely that it grows bigger since I see a lot of potential and that huge companies and websites are using bitcoins as a payment method. Bitcoin is the future. I don't see bitcoin being ''dead'' any time soon. That phase will be over.

[Falconer]

I think bitcoin can grow rapidly, and it will make the governments and banks try to get control on it, although we all have known that it's impossible to them. And bitcoin will be used many more people, to do transaction in daily market and in otherwise do negative thing in black market.

[Juliozz]

Three Predictions for Bitcoin in 2015.

1. Deriving derivatives using bitcoin

2. Bitcoin networks gain more traction

3. Innovations around financial services



http://www.cheatsheet.com/business/3-predictions-for-bitcoin-in-2015.html/?a=viewall

[Loqkani07]

More transactions , more merchants, more users , more mining difficulty , more clarity in regulatory environment. IBLT will change the face of bitcoin significantly.

[Jeremycoin]

[IMO] I predict that we will face a time when Bitcoin wallet is rarely secure

[CoinCidental]

[IMO] I predict that we will face a time when Bitcoin wallet is rarely secure

The security issues  is a personal thing
I'm sure there are people who have a ton of coins and very weak security and probably others at the opposite end of the scale with fort knox  security for a tiny amount of coins

If  you have any non trivial amount of btc its in your best interests to keep it secure as possible
10-100 btc today might be a life changing amount of money in a few years and they're will most certainly be lost and forgotten passwords in the future and much heartache for the losers as they see the coins they own but can't access gain shit tonnes of value.....

[fontana]

I do not believe 2015 will be the year Bitcoin 'goes mainstream'. Yes it will be talked about, more people will use, hold or trade it and more merchants will accept it. But we are far, far away from big scale adoption... Honestly, I do not think any 'common folk' will actually use this for at least another 3 years. Let's talk again in 2018-2020. If Bitcoin still exists (and I hope so, since I'm a longtime holder and believer) by then, it will be widely accepted and price will have risen also. But for 2015, I predict more or less the same path we've started in 2014. Up, down, left, right, adoption, repeat.

[ReigningDollars]

What is the obstacles, challenges and problems that Bitcoin can face it in 5 years? How we can help Bitcoin to take more authoritative place in the world of currency system?

Bitcoin works in a similar manner to a commodity such as gold. When a currency struggles or an economy suffers in a recession, the value of BTC will increase because it serves to be an alternate store of value. In 5 years, I can see BTC potentially becoming equivalent to gold as a go-to store of value, if not a better one.

[Bitdonator]

Some people are saying that it wil go to 10.000 dollars per bitcoin by 2020, but i do nit believe that it will get such a hugh amount. More likely 1500$+ per bitcoin.

[Pugsly]

What is the obstacles, challenges and problems that Bitcoin can face it in 5 years? How we can help Bitcoin to take more authoritative place in the world of currency system?

Buy it. Use it. Tell people about it. Not much we can do apart from those three things.

[greBit]

What is the obstacles, challenges and problems that Bitcoin can face it in 5 years? How we can help Bitcoin to take more authoritative place in the world of currency system?

Anything could happen really.The situation is like Schrodinger's cat.  But I would say chances are more likely that it grows bigger since I see a lot of potential and that huge companies and websites are using bitcoins as a payment method. Bitcoin is the future. I don't see bitcoin being ''dead'' any time soon. That phase will be over.

Yes, it functions well as a payment gateway and a mode of transaction rather than just behave like it as something people would invest their money in. Making bitcoin a currency as an investment, is how it serves to be the best at both the categories. I just feel the more trade takes place, the further it grows as a currency and as well as an investment as both co-depend on each other for acceptance.

[HigsonPP]

Bitcoin is the upcoming trend. Now is the time , to spread the trend like a wildfire across the whole global village. People , they need to put their faith with such a concept. And that's only possible if bitcoin associate itself with a structured authority.