Tell me your predictions about Bitcoin

[goinmerry]

The main problem in next 5 years will be BTC transaction time. If BTC transaction time is more than 2 minutes, you can not use it in shops, even Web shopping is difficult. Currently BTC transaction time can be more than 24 hours. 

It may take 24 hours only if you haven't attached enough fee in your transaction. Many web wallets have already added recommended fee system so that every transaction get confirmed within max 10 minute or first block after sending coin.

Yes and I have never faced any issue with delay in confirmation time, as whenever I receive coins in my wallet it hardly takes 5 to 10 minutes for transaction to get confirmed.

Why do I have a different experience now? I recieve it longer than before. Sometimes it takes 1 hour to be confirmed. That sucks and I hope this will be prevented in the future.

[deisik]

The main problem in next 5 years will be BTC transaction time. If BTC transaction time is more than 2 minutes, you can not use it in shops, even Web shopping is difficult. Currently BTC transaction time can be more than 24 hours. 

It may take 24 hours only if you haven't attached enough fee in your transaction. Many web wallets have already added recommended fee system so that every transaction get confirmed within max 10 minute or first block after sending coin.

Yes and I have never faced any issue with delay in confirmation time, as whenever I receive coins in my wallet it hardly takes 5 to 10 minutes for transaction to get confirmed.

Why do I have a different experience now? I recieve it longer than before. Sometimes it takes 1 hour to be confirmed. That sucks and I hope this will be prevented in the future.

Its the variance that matters not the mean time. Alternately stated, if the mean (average) time is 10 minutes but the variance is as high as it is, it may look as though the transaction confirmation times were 30 to 60 minutes on average. It happens because there are a lot of confirmations which happen at very small intervals of 1-2 minutes...

You may wait 50 minutes and then a few confirmations arrive in a row, one after the other

[rekinthis]

The main problem in next 5 years will be BTC transaction time. If BTC transaction time is more than 2 minutes, you can not use it in shops, even Web shopping is difficult. Currently BTC transaction time can be more than 24 hours. 

i hope this is going to be changed in the near future in order to attract more people to bitcoins

The transaction confirmation will be on average more than 10 minutes. You cannot change that. You can can use bitcoin visa card, that is instant.

The actual transaction confirmation times are irrelevant. Even if the Bitcoin blockchain clock would tick every second (okay, every other second), that wouldn't change anything substantially. How come? Because you need a truly distributed, decentralized system to get rid of this problem altogether. Ironically, Bitcoin, often cited as a beacon of decentralization, has a transaction ledger (aka blockchain) which is totally and unreservedly centralized up to a point one and only one instance of blockchain is authentic (aka static global variable)...

Cash hits devastatingly fatal where Bitcoin fails miserably

The confirmation time matters. A few weeks ago, I paid higher than usual fee and the first confirmation happened 10 blocks later. I missed the buying of goods on that day.

it just means you needed a higher fee i guess, though i think that segwit will solve these problems in the near future at least thats what i hope for

[youhgt2]

i personally think that the price of bitcoin will start increasing very soon, and this time it will not stay at 790 $ but it will even cross the 1200 USD level at the end of this year, therefore i will like to say that it is the best time for investing in bitcoin .

[tonythat]

Btc far seems to have the time to think in the future will make use of every company btc

[Reid]

i personally think that the price of bitcoin will start increasing very soon, and this time it will not stay at 790 $ but it will even cross the 1200 USD level at the end of this year, therefore i will like to say that it is the best time for investing in bitcoin .

That was a big prediction but it is way too far from the price now. There is no halving yet so how could this happen? In terms of buyers there is not much change although some are investing in, still there is a lot of space for the demands to go higher.

[Nimbulan]

The main problem in next 5 years will be BTC transaction time. If BTC transaction time is more than 2 minutes, you can not use it in shops, even Web shopping is difficult. Currently BTC transaction time can be more than 24 hours. 

i hope this is going to be changed in the near future in order to attract more people to bitcoins

The transaction confirmation will be on average more than 10 minutes. You cannot change that. You can can use bitcoin visa card, that is instant.

The actual transaction confirmation times are irrelevant. Even if the Bitcoin blockchain clock would tick every second (okay, every other second), that wouldn't change anything substantially. How come? Because you need a truly distributed, decentralized system to get rid of this problem altogether. Ironically, Bitcoin, often cited as a beacon of decentralization, has a transaction ledger (aka blockchain) which is totally and unreservedly centralized up to a point one and only one instance of blockchain is authentic (aka static global variable)...

Cash hits devastatingly fatal where Bitcoin fails miserably

The confirmation time matters. A few weeks ago, I paid higher than usual fee and the first confirmation happened 10 blocks later. I missed the buying of goods on that day.

it means that you had to pay a bit bigger transaction fee i guess it is as easy as that, i dont think it is a big problem

[sirohige]

Btc far seems to have the time to think in the future will make use of every company btc

in future each company will use bitcoin as side payment processor, maybe in future goverment will make new tax strategy for get income for bitcoin transaction.

[PuraPuraBego]

For my opinions, Bitcoin are good stuff, and now world was know. for next years for now era people will be care using bitcoin then price of bitcoin will be rising. Bitcoin best technology for now era and we are withness for that.

[dinda22]

Btc far seems to have the time to think in the future will make use of every company btc

in future each company will use bitcoin as side payment processor, maybe in future goverment will make new tax strategy for get income for bitcoin transaction.

company will use bitcoin for employee salaries? I do not agree bitcoin used for employee salaries.
price fluctuations could make a loss when employees receive a salary with bitcoin, on the other hand, it can indeed be beneficial, but when the loss, it is bad for them.

[deisik]

Btc far seems to have the time to think in the future will make use of every company btc

in future each company will use bitcoin as side payment processor, maybe in future goverment will make new tax strategy for get income for bitcoin transaction.

company will use bitcoin for employee salaries? I do not agree bitcoin used for employee salaries.
price fluctuations could make a loss when employees receive a salary with bitcoin, on the other hand, it can indeed be beneficial, but when the loss, it is bad for them.

If you buy foods with Bitcoin and pay your bills with Bitcoin, then it won't make any difference. Say, you live somewhere in Europe (I don't know, you may really live in Europe, wtf), your salary is paid in euros, and you buy things with euros...

Would the US dollar to Euro exchange rate bother you so much, provided Euro-denominated prices are stable?

[purebitco]

The main problem in next 5 years will be BTC transaction time. If BTC transaction time is more than 2 minutes, you can not use it in shops, even Web shopping is difficult. Currently BTC transaction time can be more than 24 hours. 

It may take 24 hours only if you haven't attached enough fee in your transaction. Many web wallets have already added recommended fee system so that every transaction get confirmed within max 10 minute or first block after sending coin.

the transaction might even not get confirmed, because of that the bitcoins would get returned to your wallet and thats it

[ultrloa]

Btc far seems to have the time to think in the future will make use of every company btc

in future each company will use bitcoin as side payment processor, maybe in future goverment will make new tax strategy for get income for bitcoin transaction.

company will use bitcoin for employee salaries? I do not agree bitcoin used for employee salaries.
price fluctuations could make a loss when employees receive a salary with bitcoin, on the other hand, it can indeed be beneficial, but when the loss, it is bad for them.

i dont really see's it happening for incoming future workers might gonna lose money for each flactuation happening at the moment they receive their bitcoin salary, and i think many workers will protest if the company would really push it to be happen, so thats why let the salary remain to be papers and i dont really think it is a good idea to be implemented maybe it is good in some other ways but for involving it on workers salary it can cause bad effect or shall we say breakdown.

[Maslate]

Btc far seems to have the time to think in the future will make use of every company btc

in future each company will use bitcoin as side payment processor, maybe in future goverment will make new tax strategy for get income for bitcoin transaction.

company will use bitcoin for employee salaries? I do not agree bitcoin used for employee salaries.
price fluctuations could make a loss when employees receive a salary with bitcoin, on the other hand, it can indeed be beneficial, but when the loss, it is bad for them.

i dont really see's it happening for incoming future workers might gonna lose money for each flactuation happening at the moment they receive their bitcoin salary, and i think many workers will protest if the company would really push it to be happen, so thats why let the salary remain to be papers and i dont really think it is a good idea to be implemented maybe it is good in some other ways but for involving it on workers salary it can cause bad effect or shall we say breakdown.

And besides the employees has the right to choose to receive in fiat rather than bitcoin as a certain company could be sued for doing unconstitutional act. We have to accept the fact that not all people are willing to take the risk.

[Divinespark]

Simply, 30% chance that BTC will become the native currency of the internet and of IoT by the year 2025. If that plays out, I ecpect BTC to trade in the $20k to %50k per coin range. 70% chance of a zero to $500 range.

Long and uncertain path ahead.

[oceanriver]

The main problem in next 5 years will be BTC transaction time. If BTC transaction time is more than 2 minutes, you can not use it in shops, even Web shopping is difficult. Currently BTC transaction time can be more than 24 hours. 

i hope this is going to be changed in the near future in order to attract more people to bitcoins

The transaction confirmation will be on average more than 10 minutes. You cannot change that. You can can use bitcoin visa card, that is instant.

The actual transaction confirmation times are irrelevant. Even if the Bitcoin blockchain clock would tick every second (okay, every other second), that wouldn't change anything substantially. How come? Because you need a truly distributed, decentralized system to get rid of this problem altogether. Ironically, Bitcoin, often cited as a beacon of decentralization, has a transaction ledger (aka blockchain) which is totally and unreservedly centralized up to a point one and only one instance of blockchain is authentic (aka static global variable)...

Cash hits devastatingly fatal where Bitcoin fails miserably

The confirmation time matters. A few weeks ago, I paid higher than usual fee and the first confirmation happened 10 blocks later. I missed the buying of goods on that day.

of course it matters, the less time they take the more people get into bitcoins, thats why they have to fix it as soon as possible in my opinion

[deisik]

The main problem in next 5 years will be BTC transaction time. If BTC transaction time is more than 2 minutes, you can not use it in shops, even Web shopping is difficult. Currently BTC transaction time can be more than 24 hours. 

i hope this is going to be changed in the near future in order to attract more people to bitcoins

The transaction confirmation will be on average more than 10 minutes. You cannot change that. You can can use bitcoin visa card, that is instant.

The actual transaction confirmation times are irrelevant. Even if the Bitcoin blockchain clock would tick every second (okay, every other second), that wouldn't change anything substantially. How come? Because you need a truly distributed, decentralized system to get rid of this problem altogether. Ironically, Bitcoin, often cited as a beacon of decentralization, has a transaction ledger (aka blockchain) which is totally and unreservedly centralized up to a point one and only one instance of blockchain is authentic (aka static global variable)...

Cash hits devastatingly fatal where Bitcoin fails miserably

The confirmation time matters. A few weeks ago, I paid higher than usual fee and the first confirmation happened 10 blocks later. I missed the buying of goods on that day.

of course it matters, the less time they take the more people get into bitcoins, thats why they have to fix it as soon as possible in my opinion

They can't fix it because that would mean a hard fork. That is, something which the total majority of Bitcoin supporters, proponents and those who simply sympathize with them consider as a heresy, since it is hard-coded and therefore cannot be changed...

So don't get surprised if you are declared a heretic

[crairezx20]

Btc far seems to have the time to think in the future will make use of every company btc

in future each company will use bitcoin as side payment processor, maybe in future goverment will make new tax strategy for get income for bitcoin transaction.

company will use bitcoin for employee salaries? I do not agree bitcoin used for employee salaries.
price fluctuations could make a loss when employees receive a salary with bitcoin, on the other hand, it can indeed be beneficial, but when the loss, it is bad for them.

i dont really see's it happening for incoming future workers might gonna lose money for each flactuation happening at the moment they receive their bitcoin salary, and i think many workers will protest if the company would really push it to be happen, so thats why let the salary remain to be papers and i dont really think it is a good idea to be implemented maybe it is good in some other ways but for involving it on workers salary it can cause bad effect or shall we say breakdown.

And besides the employees has the right to choose to receive in fiat rather than bitcoin as a certain company could be sued for doing unconstitutional act. We have to accept the fact that not all people are willing to take the risk.

You have the point but i think its still the best to receive your salary in bitcoin unless if the company is always relaying in the present price not old price..

[xht]

i personally think that the price of bitcoin will start increasing very soon, and this time it will not stay at 790 $ but it will even cross the 1200 USD level at the end of this year, therefore i will like to say that it is the best time for investing in bitcoin .

That was a big prediction but it is way too far from the price now. There is no halving yet so how could this happen? In terms of buyers there is not much change although some are investing in, still there is a lot of space for the demands to go higher.

I guess just to go up about $ 200 from the last price is not difficult for bitcoin, only this time the market tends to be slow so it will not rise in price a lot.

[Oj0]

I thing in coming year of 2017 bitcoin become popular in allmost around the world. Bitcoin can move up fast because the miners increasing. So bitcoin can reach 1500$-2500$ in the next year this is base in my own and i hope that will be happen. But now bitcoin have stable price getting down but much it only a little.