Tell me your predictions about Bitcoin

[cjmoles]

I agree; cryptographic-currency would be less appreciated without Bitcoin's functionality.  At present, Bitcoin's technology is the backbone of most of the other alternative digital currencies; however, when considering Bitcoins future, we have to factor in the notion that cost, price, and value are all different aspects of the same functionality. Cost is the energy required to produce to it, price is what is paid for it, and value is what can be done with it. So, when predicting Bitcoin's future, one must evaluate it from each of those perspectives taken together.  One must ask questions such as: is it cheap enough to mine? is its supply stable and affordable? and what are its uses?  Each perspective has the ability to skew bitcoin's predicted future if they are considered individually, yet they cannot be considered one and the same.

When one evaluates Bitcoin from the above perspectives, it is understood that for Bitcoin to achieve a more positive future, it would have to become more energy efficient, more widely distributed, and more generally accepted. In the world's emerging energy conscientious and socially equitable economic environment, Bitcoin's functionality will be required to adapt, or it will be forced to yield to a more sustainable technology.  It will have to use less energy, it will have to become less volatile on the market, and it will have to become more useful.  If Bitcoin can attain those goals, it will have a significant impact on the future of the global economy.  If it cannot attain those goals....the blockchain will be propelled forward by the functionality of a more stable and energy efficient alternative digital currency that can be accessed by many and used by all.
.

[gripflierGO]

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.

Yeah, companies have started to accept bitcoins as a mode of payment and now it is the time for individuals to start using bitcoins as a currency and as a mode of payment keeping credit cards aside, as credit cards are only applicable for the people who are eligible for it, but bitcoins are for all anyone can use it anyone can hold it, you don't need to have a good bank balance to hold bitcoins 

[aakashsangwan]

Predicting about Bitcoin:

as i read some replys in that i like most is that,"Bitcoin's technology is the backbone of most of the other alternative digital currencies; however, when considering Bitcoins future, we have to factor in the notion that cost, price, and value are all different aspects of the same functionality. Cost is the energy required to produce to it, price is what is paid for it, and value is what can be done with it. So, when predicting Bitcoin's future, one must evaluate it from each of those perspectives taken together. "

What he said is absolutely right, coming futures online companies have started to take bitcoin as their payment system, which will boost the Bitcoin market to move more fast. Like what now all online companies are taking payment system in Dollars, one day will come that Bitcoin will become essential. But the main factor is what ever happens to Bitcoins, But the Currency of each country will be same, it will only affect the online market.

[oxiyusuf]

I think bitcoin today has progressed very rapidly from 2009 until now, but there is still much in need of new innovations and the level of security and a better regulatory system, it is to anticipate the increasing number of users in the future bitcoin

[NoRespect]

I think next year will further increase the price bitcoin
probably due to the increasing number of users

[cjmoles]

Great conversation here....This is what BitcoinTalk is all about!  There are some very insightful thoughts generated here....Very nice!  Much Awesome!  Such good!

[techgeek]

I think bitcoin today has progressed very rapidly from 2009 until now, but there is still much in need of new innovations and the level of security and a better regulatory system, it is to anticipate the increasing number of users in the future bitcoin

we still have a huge uphill battle. but yeah we clearly made some serious progress enough to get bankers interested.

it becomes more clear when ubs is one of the few first major banks to use it possibly for their partnerbanks as a settlement coin or swaps. i think the link is still on reddit, if not you can google it.

[Xenoph0bia]

I think Bitcoin has great future ahead as more and more people are attracted towards it. The concept of cryptocurrency is new for the people but once they are familiar with the concept of digital-virtual currency then the use of bitcoins will be increased. There is a need for awareness and to improve peoples knowledge regarding bitcoins. Once the fear related to bitcoins removed then it would be beneficial for bitcoin in the long run.

[Habeler876]

The problem with bitcoin now is that many people have many different ideas on where bitcoin development should go, and with which attributes. That is a clear
turn down for the advancement since you can't go forward splitting up into more and more groups of people cheering up for different btc clients, block sizes and what not.
Few years back bitcoin community was a much happier place, people worked togeather, and not like today - against each other

[tyrexs]

i like trading bitcoin in short term, i will wait to buy in the cheap price and sell it again when price up. i always get profit use short team trade

[cjmoles]

Well, I don't think BTC will ever attain the high prices we've had the opportunity to experience in the past...But, I do believe BTC will increase in "value" by means of other channels; in fact,  I'm sure of it.

[HeroCat]

Bitcoin will expand, may be not very fast  And then banks will start to implement BTC as payment systems 

[pereira4]

I agree; cryptographic-currency would be less appreciated without Bitcoin's functionality.  At present, Bitcoin's technology is the backbone of most of the other alternative digital currencies; however, when considering Bitcoins future, we have to factor in the notion that cost, price, and value are all different aspects of the same functionality. Cost is the energy required to produce to it, price is what is paid for it, and value is what can be done with it. So, when predicting Bitcoin's future, one must evaluate it from each of those perspectives taken together.  One must ask questions such as: is it cheap enough to mine? is its supply stable and affordable? and what are its uses?  Each perspective has the ability to skew bitcoin's predicted future if they are considered individually, yet they cannot be considered one and the same.

When one evaluates Bitcoin from the above perspectives, it is understood that for Bitcoin to achieve a more positive future, it would have to become more energy efficient, more widely distributed, and more generally accepted. In the world's emerging energy conscientious and socially equitable economic environment, Bitcoin's functionality will be required to adapt, or it will be forced to yield to a more sustainable technology.  It will have to use less energy, it will have to become less volatile on the market, and it will have to become more useful.  If Bitcoin can attain those goals, it will have a significant impact on the future of the global economy.  If it cannot attain those goals....the blockchain will be propelled forward by the functionality of a more stable and energy efficient alternative digital currency that can be accessed by many and used by all.
.

Well right now Bitcoin is way more energy efficient than the traditional banking system, about more distributed, I doubt how you would achieve this without forced manipulation which would ruin the point of Bitcoin, and about being more accepted, well, it's just a matter of time, Rome wasn't build in one day so wasn't the internet etc.

[cjmoles]

I agree; cryptographic-currency would be less appreciated without Bitcoin's functionality.  At present, Bitcoin's technology is the backbone of most of the other alternative digital currencies; however, when considering Bitcoins future, we have to factor in the notion that cost, price, and value are all different aspects of the same functionality. Cost is the energy required to produce to it, price is what is paid for it, and value is what can be done with it. So, when predicting Bitcoin's future, one must evaluate it from each of those perspectives taken together.  One must ask questions such as: is it cheap enough to mine? is its supply stable and affordable? and what are its uses?  Each perspective has the ability to skew bitcoin's predicted future if they are considered individually, yet they cannot be considered one and the same.

When one evaluates Bitcoin from the above perspectives, it is understood that for Bitcoin to achieve a more positive future, it would have to become more energy efficient, more widely distributed, and more generally accepted. In the world's emerging energy conscientious and socially equitable economic environment, Bitcoin's functionality will be required to adapt, or it will be forced to yield to a more sustainable technology.  It will have to use less energy, it will have to become less volatile on the market, and it will have to become more useful.  If Bitcoin can attain those goals, it will have a significant impact on the future of the global economy.  If it cannot attain those goals....the blockchain will be propelled forward by the functionality of a more stable and energy efficient alternative digital currency that can be accessed by many and used by all.
.

Well right now Bitcoin is way more energy efficient than the traditional banking system, about more distributed, I doubt how you would achieve this without forced manipulation which would ruin the point of Bitcoin, and about being more accepted, well, it's just a matter of time, Rome wasn't build in one day so wasn't the internet etc.

When I was mentioning energy efficiency, I was thinking along the lines of mining costs, distribution I was thinking along the lines of a POS system, and accessibility, as you so correctly stated, that will happen with time.

[killerjoegreece]

5 years from now bitcoin will mainly be at the same price but with much greater adoption.

[coinplus]

My view on bitcoin price is 1 Million USD per one bitcoin in 2 to 5 years. The following points will support my views....
1. In 40 weeks, mining reward go down to 12.5 BTC.
2. In 2013 when price hit $1200, many employees of big corporate were willing to get their salary in bitcoin (buying pressure on any higher price)
3. Many mutual funds will born to buy bitcoin for long term.
4. Bitcoin will become prime alternate investment instead of Gold or USD when we have market cap more than 100 billion. (Investors thinking to consider bitcoin just because of small 3 billion market cap which equivalent to small tech comapny market cap)
5. Even 1 Satoshi = 1$ people will buy bitcoin to send money to dear ones across border. The receiver will convert into fiat at the price of 1 Satoshi = 1$. Only small fess will be deducted on 2 conversions and transmitting. This is an example for price is not a problem for buying at any price.
 These are few points to support my view.

[randy8777]

5 years from now bitcoin will mainly be at the same price but with much greater adoption.

that doesn't make sense. halving + much greater adoption + price stays at the current level over 5 years = error! i do think we'll see the price be at least $700 in 5 years.

[mobnepal]

I am hoping that the price will hit 1000$ again on july 2016 as the amount of reward per block mined will be halved. I have heard this in some thread on forum. Is it true or not?

[MGMT]

I predict disappointment. Call me a cynic but for all bitcoin's benefits I just don't think the general public will see it or feel the need to use it. Best we can hope for is the remittance market to adopt it but even if they did I think the banks and money transmitters would take not and just lower their fees or something.

[vanessa110]

i think when the technology have developed more and more, bitcoin will be the trend. Today it is not believed by many people but in the future its convenience will help the international exchange easily.