How much do you think 1 Bitcoin will be worth in 2020?

[Orangina]

Well in 2020 1 BTC will be worth of 100000 $.This I am saying because of the fast and steady adoption which we saw this year.This process will be even much more faster in coming years.

predictions are good, but it would be very difficult bitcoin achieve that price, unless all countries in the world use

Exactly if we don't go mainstream , then we are not going anywhere there is a lot of votes on 10k $ It's possible yes but I don't think it's likely to happen unless something else be the factor on the equation , because with only halving block reward ... nop

[sakira]

I would guess and hope 1BTC = $10,000 in 2020 do not dream too far, $1000 also I've been happy

[Denker]

This is just my opinion:

Too be honest, I think, by 2020, bitcoin will be replaced by a more efficient, more accessible, and more widely distributable technology that utilizes the main concepts of the blockchain to conduct transactions.  The decadent state of the core technology and the predatory nature of its governance opens the door for alternative technologies to enter as contenders to control the blockchain.

Many of the "elite" in the bitcoin world suffer from what I call the "Gollum" affect.  As Gollum would say, "We wants it, we needs it. Must have the precious."  And, they will do any underhanded thing possible to get bitcoin, keep bitcoin, and prevent bitcoin's aging technology from ever evolving into what it could be.  They would fork it, balloon it, then lie, cheat, and steal for it according to public perception, and I don't think that perception will change as long as it is governed the way it has been.

So my thoughts are that, by the year 2020, a cryptographic currency similar to bitcoin, but with a more stable market and more honestly perceived governance, will rule the blockchain because it will be more efficient, more accessible, and more widely distributed.  Therefore, I predict the price of bitcoin to be closer to it's mid 2012 prices by 2020.

So you're talking about another new decentralized altcoin which will replace Bitcoin in almost 4 years. I would like to know what you mean with accessible? Everyone with internet connection today can have access to the bitcoin network very easy.

[cjmoles]

This is just my opinion:

Too be honest, I think, by 2020, bitcoin will be replaced by a more efficient, more accessible, and more widely distributable technology that utilizes the main concepts of the blockchain to conduct transactions.  The decadent state of the core technology and the predatory nature of its governance opens the door for alternative technologies to enter as contenders to control the blockchain.

Many of the "elite" in the bitcoin world suffer from what I call the "Gollum" affect.  As Gollum would say, "We wants it, we needs it. Must have the precious."  And, they will do any underhanded thing possible to get bitcoin, keep bitcoin, and prevent bitcoin's aging technology from ever evolving into what it could be.  They would fork it, balloon it, then lie, cheat, and steal for it according to public perception, and I don't think that perception will change as long as it is governed the way it has been.

So my thoughts are that, by the year 2020, a cryptographic currency similar to bitcoin, but with a more stable market and more honestly perceived governance, will rule the blockchain because it will be more efficient, more accessible, and more widely distributed.  Therefore, I predict the price of bitcoin to be closer to it's mid 2012 prices by 2020.

So you're talking about another new decentralized altcoin which will replace Bitcoin in almost 4 years. I would like to know what you mean with accessible? Everyone with internet connection today can have access to the bitcoin network very easy.

Good question!  The way it is now:  Grandma finds an object she really likes online but needs bitcoin to purchase it.  She downloads the bitcoin core wallet, waits several days for it to synchronize with the network, but in the middle of the synchronizing process, Microsoft decides it's time to restart the computer and install updates.  After the update, Grandma tries to open her bitcoin core wallet, which takes several minutes loading indexes and such, only to find that the windows install restart mandates that she has to resync her wallet from scratch, which takes a couple more days.  The wallet syncs and now she has to figure out where to get bitcoin.  She does some research to figure out the most honest site to pick up her coin.  She runs across articles on Mt. Gox, the silk road, and bitcointalk forum topics suggesting that everything's a scam, but she  finally decides to take a chance; though she's leery about linking her bank account, she decides to go thru circle or coinbase, which takes few more days to authorize. Her accounts link and she's finally able to purchases some bitcoin which she then sends to her wallet....Meanwhile, rumors of an imminent hard fork spook the market and her bitcoin loses a third of it's value.  She now doesn't have enough bitcoin to purchase her item so she returns to circle to purchase more bitcoin....etc.  Grandma. or any other technophobe, isn't going to go thru that.

So, by more accessible, I mean something a non-technical, non-mining, non-trading, type of individual can acquire with speed and efficiency.  There are a few alts out there, right now, that are already attempting to address some of those issues.  Some of the projects based on the Sunny King line of reasoning are beginning to take shape and could be candidates....some of the technology surrounding Ethereum...and supported platforms such as Dwolla...the list goes on....My point being, Bitcoin is perfect for traders, big mining institutions, the techno-savvy, and the elite group of market manipulators....but grandma can't stand it.  Bitcoin's issues with its image, its efficiency, and its non-consensual governance could retard it's potential progress....that's all I'm saying.  So, if another cryptographic technology with a friendlier image could move the blockchain in a more efficient manner...it will own the market by 2020 and bitcoin's value will reflect that dynamic.

[gentlemand]

So you're talking about another new decentralized altcoin which will replace Bitcoin in almost 4 years. I would like to know what you mean with accessible? Everyone with internet connection today can have access to the bitcoin network very easy.

I would say accessible equals mindless and with a user base that feels comfortable with it straight out of the box.  

Not that it'll ever happen or probably could happen even if they wanted it to, but let's say Whatsapp decides to release its own decentralised currency that you access through the existing app.

If they make the security foolproof and the experience friendly and simple you have several hundred million people ready to go and already familiar with the interface they'll use it through.

What is more likely is that there'll be 'trusted' third parties who'll make Bitcoin easier to handle. The road a few seem to be going down is not mentioning Bitcoin at all.

[coinableS]

Good question!  The way it is now:  Grandma finds an object she really likes online but needs bitcoin to purchase it.  She downloads the bitcoin core wallet, waits several days for it to synchronize with the network, but in the middle of the synchronizing process, Microsoft decides it's time to restart the computer and install updates.  After the update, Grandma tries to open her bitcoin core wallet, which takes several minutes loading indexes and such, only to find that the windows install restart mandates that she has to resync her wallet from scratch, which takes a couple more days.  The wallet syncs and now she has to figure out where to get bitcoin.  She does some research to figure out the most honest site to pick up her coin.  She runs across articles on Mt. Gox, the silk road, and bitcointalk forum topics suggesting that everything's a scam, but she  finally decides to take a chance; though she's leery about linking her bank account, she decides to go thru circle or coinbase, which takes few more days to authorize. Her accounts link and she's finally able to purchases some bitcoin which she then sends to her wallet....Meanwhile, rumors of an imminent hard fork spook the market and her bitcoin loses a third of it's value.  She now doesn't have enough bitcoin to purchase her item so she returns to circle to purchase more bitcoin....etc.  Grandma. or any other technophobe, isn't going to go thru that.

So, by more accessible, I mean something a non-technical, non-mining, non-trading, type of individual can acquire with speed and efficiency.  There are a few alts out there, right now, that are already attempting to address some of those issues.  Some of the projects based on the Sunny King line of reasoning are beginning to take shape and could be candidates....some of the technology surrounding Ethereum...and supported platforms such as Dwolla...the list goes on....My point being, Bitcoin is perfect for traders, big mining institutions, the techno-savvy, and the elite group of market manipulators....but grandma can't stand it.  Bitcoin's issues with its image, its efficiency, and its non-consensual governance could retard it's potential progress....that's all I'm saying.  So, if another cryptographic technology with a friendlier image could move the blockchain in a more efficient manner...it will own the market by 2020 and bitcoin's value will reflect that dynamic.

The way it will be:  Grandma finds an object she really likes online but needs bitcoin to purchase it. JP Morgan, BofA, WellsFargo and paypal have all integrated bitcoin into their services to make send and receiving bitcoin easy. She clicks the bitcoin option and checks out. Viola!

[cjmoles]

Good question!  The way it is now:  Grandma finds an object she really likes online but needs bitcoin to purchase it.  She downloads the bitcoin core wallet, waits several days for it to synchronize with the network, but in the middle of the synchronizing process, Microsoft decides it's time to restart the computer and install updates.  After the update, Grandma tries to open her bitcoin core wallet, which takes several minutes loading indexes and such, only to find that the windows install restart mandates that she has to resync her wallet from scratch, which takes a couple more days.  The wallet syncs and now she has to figure out where to get bitcoin.  She does some research to figure out the most honest site to pick up her coin.  She runs across articles on Mt. Gox, the silk road, and bitcointalk forum topics suggesting that everything's a scam, but she  finally decides to take a chance; though she's leery about linking her bank account, she decides to go thru circle or coinbase, which takes few more days to authorize. Her accounts link and she's finally able to purchases some bitcoin which she then sends to her wallet....Meanwhile, rumors of an imminent hard fork spook the market and her bitcoin loses a third of it's value.  She now doesn't have enough bitcoin to purchase her item so she returns to circle to purchase more bitcoin....etc.  Grandma. or any other technophobe, isn't going to go thru that.

So, by more accessible, I mean something a non-technical, non-mining, non-trading, type of individual can acquire with speed and efficiency.  There are a few alts out there, right now, that are already attempting to address some of those issues.  Some of the projects based on the Sunny King line of reasoning are beginning to take shape and could be candidates....some of the technology surrounding Ethereum...and supported platforms such as Dwolla...the list goes on....My point being, Bitcoin is perfect for traders, big mining institutions, the techno-savvy, and the elite group of market manipulators....but grandma can't stand it.  Bitcoin's issues with its image, its efficiency, and its non-consensual governance could retard it's potential progress....that's all I'm saying.  So, if another cryptographic technology with a friendlier image could move the blockchain in a more efficient manner...it will own the market by 2020 and bitcoin's value will reflect that dynamic.

The way it will be:  Grandma finds an object she really likes online but needs bitcoin to purchase it. JP Morgan, BofA, WellsFargo and paypal have all integrated bitcoin into their services to make send and receiving bitcoin easy. She clicks the bitcoin option and checks out. Viola!

That would be grand; however, those industries are already spending money on similar cryptographic technologies of which governances they would hold a stake in.  Now, the question is....could bitcoin survive a first world backed cryptographic currency that uses blockchain technology but tethered to an existing centralized banking infrastructure? 

[ssmc2]

Good question!  The way it is now:  Grandma finds an object she really likes online but needs bitcoin to purchase it.  She downloads the bitcoin core wallet, waits several days for it to synchronize with the network, but in the middle of the synchronizing process, Microsoft decides it's time to restart the computer and install updates.  After the update, Grandma tries to open her bitcoin core wallet, which takes several minutes loading indexes and such, only to find that the windows install restart mandates that she has to resync her wallet from scratch, which takes a couple more days.  The wallet syncs and now she has to figure out where to get bitcoin.  She does some research to figure out the most honest site to pick up her coin.  She runs across articles on Mt. Gox, the silk road, and bitcointalk forum topics suggesting that everything's a scam, but she  finally decides to take a chance; though she's leery about linking her bank account, she decides to go thru circle or coinbase, which takes few more days to authorize. Her accounts link and she's finally able to purchases some bitcoin which she then sends to her wallet....Meanwhile, rumors of an imminent hard fork spook the market and her bitcoin loses a third of it's value.  She now doesn't have enough bitcoin to purchase her item so she returns to circle to purchase more bitcoin....etc.  Grandma. or any other technophobe, isn't going to go thru that.

So, by more accessible, I mean something a non-technical, non-mining, non-trading, type of individual can acquire with speed and efficiency.  There are a few alts out there, right now, that are already attempting to address some of those issues.  Some of the projects based on the Sunny King line of reasoning are beginning to take shape and could be candidates....some of the technology surrounding Ethereum...and supported platforms such as Dwolla...the list goes on....My point being, Bitcoin is perfect for traders, big mining institutions, the techno-savvy, and the elite group of market manipulators....but grandma can't stand it.  Bitcoin's issues with its image, its efficiency, and its non-consensual governance could retard it's potential progress....that's all I'm saying.  So, if another cryptographic technology with a friendlier image could move the blockchain in a more efficient manner...it will own the market by 2020 and bitcoin's value will reflect that dynamic.

The way it will be:  Grandma finds an object she really likes online but needs bitcoin to purchase it. JP Morgan, BofA, WellsFargo and paypal have all integrated bitcoin into their services to make send and receiving bitcoin easy. She clicks the bitcoin option and checks out. Viola!

That would be grand; however, those industries are already spending money on similar cryptographic technologies of which governances they would hold a stake in.  Now, the question is....could bitcoin survive a first world backed cryptographic currency that uses blockchain technology but tethered to an existing centralized banking infrastructure? 

Not only would it survive, but that sort of thing could be the impetus for a massive transfer of wealth into BTC.

[gentlemand]

That would be grand; however, those industries are already spending money on similar cryptographic technologies of which governances they would hold a stake in.  Now, the question is....could bitcoin survive a first world backed cryptographic currency that uses blockchain technology but tethered to an existing centralized banking infrastructure?  

That's inevitable. These amazing new currencies will be called the USD, EUR, CNY etc.

Their shiny new 'blockchainness' will make transfers in and out of BTC near instant and completely seamless thus massively increasing its utility and appeal.

BTC will always stand outside that particular system. The existing currencies will continue and be the same as ever at heart but will be far more nimble. The technology it has fostered will make BTC's interactions with them a piece of piss.

[cjmoles]

That would be grand; however, those industries are already spending money on similar cryptographic technologies of which governances they would hold a stake in.  Now, the question is....could bitcoin survive a first world backed cryptographic currency that uses blockchain technology but tethered to an existing centralized banking infrastructure?  

That's inevitable. These amazing new currencies will be called the USD, EUR, CNY etc.

Their shiny new 'blockchainness' will make transfers in and out of BTC near instant and completely seamless thus massively increasing its utility and appeal.

BTC will always stand outside that particular system. The existing currencies will continue and be the same as ever at heart but will be far more nimble. The technology it has fostered will make BTC's interactions with them a piece of piss.

Absolutely!  Many fail to realize that the true ingenuity here is the blockchain technology and bitcoin was just the first experiment that utilized that technology.  Many lessons were learned from the experiment and it has been successful enough to encourage the powers that be to invest in it.  Bitcoin will still be in the mix somewhere...but questions surrounding valuation, market capitalization, first world adoption...etc...seem mute in comparison.

[cjmoles]

Good question!  The way it is now:  Grandma finds an object she really likes online but needs bitcoin to purchase it.  She downloads the bitcoin core wallet, waits several days for it to synchronize with the network, but in the middle of the synchronizing process, Microsoft decides it's time to restart the computer and install updates.  After the update, Grandma tries to open her bitcoin core wallet, which takes several minutes loading indexes and such, only to find that the windows install restart mandates that she has to resync her wallet from scratch, which takes a couple more days.  The wallet syncs and now she has to figure out where to get bitcoin.  She does some research to figure out the most honest site to pick up her coin.  She runs across articles on Mt. Gox, the silk road, and bitcointalk forum topics suggesting that everything's a scam, but she  finally decides to take a chance; though she's leery about linking her bank account, she decides to go thru circle or coinbase, which takes few more days to authorize. Her accounts link and she's finally able to purchases some bitcoin which she then sends to her wallet....Meanwhile, rumors of an imminent hard fork spook the market and her bitcoin loses a third of it's value.  She now doesn't have enough bitcoin to purchase her item so she returns to circle to purchase more bitcoin....etc.  Grandma. or any other technophobe, isn't going to go thru that.

So, by more accessible, I mean something a non-technical, non-mining, non-trading, type of individual can acquire with speed and efficiency.  There are a few alts out there, right now, that are already attempting to address some of those issues.  Some of the projects based on the Sunny King line of reasoning are beginning to take shape and could be candidates....some of the technology surrounding Ethereum...and supported platforms such as Dwolla...the list goes on....My point being, Bitcoin is perfect for traders, big mining institutions, the techno-savvy, and the elite group of market manipulators....but grandma can't stand it.  Bitcoin's issues with its image, its efficiency, and its non-consensual governance could retard it's potential progress....that's all I'm saying.  So, if another cryptographic technology with a friendlier image could move the blockchain in a more efficient manner...it will own the market by 2020 and bitcoin's value will reflect that dynamic.

The way it will be:  Grandma finds an object she really likes online but needs bitcoin to purchase it. JP Morgan, BofA, WellsFargo and paypal have all integrated bitcoin into their services to make send and receiving bitcoin easy. She clicks the bitcoin option and checks out. Viola!

That would be grand; however, those industries are already spending money on similar cryptographic technologies of which governances they would hold a stake in.  Now, the question is....could bitcoin survive a first world backed cryptographic currency that uses blockchain technology but tethered to an existing centralized banking infrastructure? 

Not only would it survive, but that sort of thing could be the impetus for a massive transfer of wealth into BTC.

I agree somewhat: As long as there remains a black-market, bitcoin WILL survive...but grandma and grandpa will not choose bitcoin as a payment method over an FDIC insured cryptographic method that's tied to their bank;  nor will their church, their government's military complex, the IRS....etc

So, the question will then become:  Who's holding bitcoin, why are they holding it, and what can we do to stop them?  which gets scary!  In fact, I've already witnessed quite a few religious zealots screaming about bitcoin becoming what they'd referred to as, "the mark of the beast!"  So, bitcoin will have to survive first world spending might, as well as, huge religious campaigns against black-market trade that will further drive it's adoption rate down.

I know that this is all hyperbole at this point....but they are real concerns by the general public.  And if one still thinks that it's gold, silver, or any other commodity which provides the value to a currency and not the backing of a labor force which provides that value, then they're in for an awakening.

[fox19891989]

The year 2020 is a long ways away from now. It is very hard to make long-term predictions. I don't know what Bitcoin has in store for it in the coming 5 years. But I think it is possible for some major things to happen during that time frame. Possibly new tech to enhance Bitcoin or to simplify it for the masses, or maybe something like a major Bitcoin startup will happen and materialize. These may impact the price, or maybe the block halving will. I think there may be two block halvings in total by the end of 2020 too. No one knows for sure though, we just have to wait and see.

Although it is hard to predict, my answer for your question is over 1000 USD, I hope we will be rich in 2020. 

[futureofbitcoin]

I think 2020 is too early for bitcoin to be replaced. It may happen in the future, but I'm not sure if it'll happen in such a short timeframe.


Also, in terms of "mindless" and "accessible to grandmas", it's really not as clear-cut as you might think.

Do you think opening hotmail is "mindless" and "accessible"? My grandparents don't know how to do that. They think the computer is something magical they can never learn to use. This is coming from my grandfather who LOVES to learn and is extremely hardworking and decently intelligent.

So for them, forget bitcoin, forget paypal. They'll forget how to use a calculator on the computer.


For me, I'm not into cellphones. After i lost mine in China early this year, I didn't bother to replace it. Even when I did have my phone, I just listened to music, played some games and took a few calls. I have never used instagram or snapchat or wechat or whatever new popular app people are using. To my 10-year old cousin, those apps are so easy to use, and all the controls are intuitive.

To me, they are not. Can I learn them? Sure. And it probably won't take much time. But point is, for different generations, for different people who are used to different things, what is "mindless", what is "accessible" and what is "intuitive" is different. One generation might find something super easy while another would find it extremely troublesome.

Now I think bitcoin needs to be simplified for the masses for sure. But IF bitcoin or any similar technology does take off, it'll be a combination of the technology being simplified and people changing and making using bitcoins an "intuitive" thing. They will think "what else is a wallet supposed to hold, if not private keys?" or something like that. Both sides will have to move to meet somewhere in the middle, it won't purely be a technological thing.

[cjmoles]

You're right.  This is my prediction: Centralized banking communities will develop their own cryptocurrencies utilizing blockchain technology to accommodate digital markets; they will tether their fiat to it; and they will offer it as a service directly inside their online banking platforms already in place. (http://cointelegraph.com/news/115282/9-banking-superpowers-unite-behind-bitcoins-blockchain-tech-op-ed?source=dogechain.info)  So, Grandma, Grandpa, and the average technophobe will be secure in that their transactions will flow smoothly, their money will be insured, and they wont have to concern themselves with the volatility of the market place.  As a consequence, the valuation, market capitalization, and adoption of bitcoin will suffer and prices will fall to levels they were prior to 2013.  Bitcoin isn't special....the blockchain technology IS special....and believe me, big banking organizations will make it happen very quickly when they so desire.

[gentlemand]

This is my prediction: Centralized banking communities will develop their own cryptocurrencies utilizing blockchain technology to accommodate digital markets; they will tether their fiat to it; and they will offer it as a service directly inside their online banking platforms already in place.

In Europe bank transfers are free and instant. There's contactless payments and fees are zero. The only time you might need a blockchain is with international bank transfers outside the Eurozone which for most people happens approximately never.

All of what you listed is already available to a lot of people and the addition of a blockchain to it does precisely nothing to solve what Bitcoin was created for. It is and always will be a fundamentally different thing.

[BitofaN1]

You're right.  This is my prediction: Centralized banking communities will develop their own cryptocurrencies utilizing blockchain technology to accommodate digital markets; they will tether their fiat to it;

Well, there's your problem! Tethering an ever inflationary currency to their own centralized blockchain distributed database.

[cjmoles]

You're right.  This is my prediction: Centralized banking communities will develop their own cryptocurrencies utilizing blockchain technology to accommodate digital markets; they will tether their fiat to it;

Well, there's your problem! Tethering an ever inflationary currency to their own centralized blockchain distributed database.

Never said it wouldn't be a problem....just predicted the event....I really believe that a decentralized system is best for the state of our global economic system...but, I also believe in a fair distribution.

[dinda22]

I guess $10.000 is really possible, yeah 5 years to reach that number is very likely and hopefully in the next 5 years many positive growth on bitcoin

[irfan01]

I guess $10.000 is really possible, yeah 5 years to reach that number is very likely and hopefully in the next 5 years many positive growth on bitcoin

it very much, perhaps the highest reaches $ 5,000 

[dinda22]

I guess $10.000 is really possible, yeah 5 years to reach that number is very likely and hopefully in the next 5 years many positive growth on bitcoin

it very much, perhaps the highest reaches $ 5,000 

haha yeah expectations were very high, because the voting majority are optimistic they will reach $10,000 even if it will only reach $1,000 I still be happy