Where do you see bitcoin in 10 years

[Nasus]

I see it ran by a bank, What do you think?

Yes that would probably happen in the future and I think everyone would be using it in purchasing.

[Nautiluss]

I see it ran by a bank, What do you think?

I can picture it being used by many people specially the new generation that is going to be the one that will use it.

[Nocturne]

I see it ran by a bank, What do you think?

I can see a great future for the bitcoins.
I can see it being used in all parts of the world, used for purchasing or anything.

[Cconvert2G36]

Wonder future has bitcoin. All new generations will be using in purchasing and sellings.

[rjclarke2000]

Are these all the same answers?? ^^

[Erkallys]

If I follow you, when Bitcoin mining will become unenomic, Bitcoin will surely die ? In 2050 or 2060, when there will have not a lot of Bitcoin mined at each block, no one will mine it because everyone, even the one that have free electricity will lose money. But maybe people will mine just to make the Bitcoin network work, like some are already doing by running Bitcoin nodes.

There are miners out there with access to free electricity or very, very cheap electricity. Those will still be in profit just fine whereas other current players will have to throw in the towel unless they can find a similar set up. That's a tough thing to find.

Most assume that transaction fees will make up for the block reward in the far future. That makes sense if it catches on and succeeds and there are far more users than there are now. I think at present fees are often 0.2 BTC per block or less. If it doesn't then mining it will become increasingly thankless as the block reward diminishes further. There'd come a point where it's only mined for altruistic reasons which most people aren't going to consider.

In a really far futur, when the block reward will be less than 1 BTC, no one will profit, since the price of the ASIC will never be recovered, even with free electricity.

[LMGTFY]

Are these all the same answers?? ^^

Heh, I noticed that too! All from full members with usernames starting with an "N". Hmmm.

[LMGTFY]

If I follow you, when Bitcoin mining will become unenomic, Bitcoin will surely die ? In 2050 or 2060, when there will have not a lot of Bitcoin mined at each block, no one will mine it because everyone, even the one that have free electricity will lose money. But maybe people will mine just to make the Bitcoin network work, like some are already doing by running Bitcoin nodes.

There are miners out there with access to free electricity or very, very cheap electricity. Those will still be in profit just fine whereas other current players will have to throw in the towel unless they can find a similar set up. That's a tough thing to find.

Most assume that transaction fees will make up for the block reward in the far future. That makes sense if it catches on and succeeds and there are far more users than there are now. I think at present fees are often 0.2 BTC per block or less. If it doesn't then mining it will become increasingly thankless as the block reward diminishes further. There'd come a point where it's only mined for altruistic reasons which most people aren't going to consider.

In a really far futur, when the block reward will be less than 1 BTC, no one will profit, since the price of the ASIC will never be recovered, even with free electricity.

Erkallys, you don't think transaction fees will increase enough to compensate for the reduction in the block reward? (Gentlemand, you also seem sceptical - or at least not totally convinced. I've always taken it as a given, without giving it too much thought, that TX fees would be subject to market forces. I'd be interested in having my assumption challenged).

[1Referee]

I think by that time Bitcoin is being used more to store value and that there will be 1 global exchange that only has 1 orderbook. Just like the Nasdaq. Current exchanges will then only function as middle man making possible we're able to invest, but without the option to withdraw. Just like banks offer you to buy stocks.

[dothebeats]

Are these all the same answers?? ^^

Heh, I noticed that too! All from full members with usernames starting with an "N". Hmmm.

Those are bots that belong to a single entity. The names are name of champions in the game League of Legends.

--

I mostly see bitcoin ATMs scattered in major cities all around the globe. Merchants selling goods in exchange of bitcoins would be evident too. The future is bright, and not that gloomy as some expect it to be.

[Erkallys]

If I follow you, when Bitcoin mining will become unenomic, Bitcoin will surely die ? In 2050 or 2060, when there will have not a lot of Bitcoin mined at each block, no one will mine it because everyone, even the one that have free electricity will lose money. But maybe people will mine just to make the Bitcoin network work, like some are already doing by running Bitcoin nodes.

There are miners out there with access to free electricity or very, very cheap electricity. Those will still be in profit just fine whereas other current players will have to throw in the towel unless they can find a similar set up. That's a tough thing to find.

Most assume that transaction fees will make up for the block reward in the far future. That makes sense if it catches on and succeeds and there are far more users than there are now. I think at present fees are often 0.2 BTC per block or less. If it doesn't then mining it will become increasingly thankless as the block reward diminishes further. There'd come a point where it's only mined for altruistic reasons which most people aren't going to consider.

In a really far futur, when the block reward will be less than 1 BTC, no one will profit, since the price of the ASIC will never be recovered, even with free electricity.

Erkallys, you don't think transaction fees will increase enough to compensate for the reduction in the block reward? (Gentlemand, you also seem sceptical - or at least not totally convinced. I've always taken it as a given, without giving it too much thought, that TX fees would be subject to market forces. I'd be interested in having my assumption challenged).

Maybe TX fees will cover the block reward diminution, but each block has a maximum capacity of transactions, so, in some time, Bitcoin will be stopped in his growth by his maximum block size ?

[g-unit]

Even Satoshi said it that either there will be a lot of transactions in about 10 years or very few transactions. This you can translate to either Bitcoin will be worth a lot or nothing and of course either Bitcoin will be used by many or by nobody.

So this is pretty much your answer OP. I don't see it being somewhere in the middle at all!

Yepp that's it.Either this baby goes moon or higher, or it ends up in oblivion.Let's hope for the first one to happen!

He said 20 years, not 10.

[LMGTFY]

Erkallys, you don't think transaction fees will increase enough to compensate for the reduction in the block reward? (Gentlemand, you also seem sceptical - or at least not totally convinced. I've always taken it as a given, without giving it too much thought, that TX fees would be subject to market forces. I'd be interested in having my assumption challenged).

Maybe TX fees will cover the block reward diminution, but each block has a maximum capacity of transactions, so, in some time, Bitcoin will be stopped in his growth by his maximum block size ?

Ah, understood. I'm still hopeful maximum block size will be increased before the heat death of the universe, but the participants in the debate do seem determined to prove me wrong!

[Erkallys]

Erkallys, you don't think transaction fees will increase enough to compensate for the reduction in the block reward? (Gentlemand, you also seem sceptical - or at least not totally convinced. I've always taken it as a given, without giving it too much thought, that TX fees would be subject to market forces. I'd be interested in having my assumption challenged).

Maybe TX fees will cover the block reward diminution, but each block has a maximum capacity of transactions, so, in some time, Bitcoin will be stopped in his growth by his maximum block size ?

Ah, understood. I'm still hopeful maximum block size will be increased before the heat death of the universe, but the participants in the debate do seem determined to prove me wrong!

I've never understood the Bitxoin XT thing. Maybe you could explain me ? Also can Bitcoin continue to grow without a block size increase ?

[LMGTFY]

Ah, understood. I'm still hopeful maximum block size will be increased before the heat death of the universe, but the participants in the debate do seem determined to prove me wrong!

I've never understood the Bitxoin XT thing. Maybe you could explain me ? Also can Bitcoin continue to grow without a block size increase ?

I'm afraid not It's way above my head. My instinct is that Bitcoin will reach a point beyond which it can't grow without a block size increase, but I can't say that with any certainty.

[Pyr3x]

I would love to walk into py-mart because by that time I plan to own a few businesses or more and spend bitcoin on everyday things.

[isvicre]

I see it as legal and acceptable payment method to be used in lot of markets and countries.
And at skyrocketed price because of limited supply.

[newbie miner]

We’ll see another Bitcoin price bubble like we saw in 2013. The history of Bitcoin trading is a bubble, a correction, consolidation and another increase, It’s happened four times and it will happen again.

[randy8777]

We’ll see another Bitcoin price bubble like we saw in 2013. The history of Bitcoin trading is a bubble, a correction, consolidation and another increase, It’s happened four times and it will happen again.

don't think we'll see another bubble very soon. people simply buy because there seem to be genuine demand as the block halving is near.

[gentlemand]

We’ll see another Bitcoin price bubble like we saw in 2013. The history of Bitcoin trading is a bubble, a correction, consolidation and another increase, It’s happened four times and it will happen again.

Bitcoin's 'history' has been shat all over in the last couple of years. Anyone basing decisions on what it did in the past is a silly sausage considering how different things are now and how rapidly things can change. All this stuff is still being made up as it goes along.