2016 Has Brought a Bitcoin Awakening

[OmegaStarScream]

The realization that bitcoin is a strategic global asset will trigger an "arms race".

Currently, the market cap of bitcoin ($7bn) is simply too small to facilitate a large buy of bitcoins from any governmental organization. If bitcoin started to surge globally, it could become of strategic interest to a government, and therefore other governments. I believe this would trigger something akin to a digital commodity race.

Read the article here : http://www.coindesk.com/2016%E2%80%8A-brought-bitcoin-awakening/ It's really interesting for those have some doubts

[Fortify]

It could be like a snowball gathering size while rolling down a hill or the opposite - like a mountain climber getting more weighed down in a snowstorm. Worldwide it seems to be getting more volatile and alternative currencies could gain in popularity as a store for value. Stability is key because people don't like to see vast drop off's in the value of their holdings.

[iram66680]

7 Billion only? Really ? Thought it had more of the market than that  
With all the media coverage and interest brought to it in the last couple of months due to good, bad and the ugly in the news lately. The number of transactions shown every second made you would think it would be double that amount.  

[SFR10]

Indeed an interesting article that had valid reasons (almost). Regarding the trust in exchanges for purchasing BTCitcoin, overall there might be few that stand out but in general, there have been rather a lack of trust lately due to recent events surrounding exchanges. I also do agree that regardless of the halving event, the price is on the rise and it's matter of time before governments jump in and make a good impact in it's value.

[katrimans]

7 Billion only? Really ? Thought it had more of the market than that  
With all the media coverage and interest brought to it in the last couple of months due to good, bad and the ugly in the news lately. The number of transactions shown every second made you would think it would be double that amount.  

Dont worry. Its just a begining. Bitcoin has been more popular this year and it will take some time to be more popular. Lets be patient and watch how the markets reacts.

[NUFCrichard]

But what size does the market have to be to be big enough?
I would say at least 1 trillion, but that is a 150x rise from here.  I am optimistic, but I don't see 1 bitcoin being worth 50k anytime soon!

Baby steps should raise the cap to over 15 Billion again at some point, still chicken feed for economies and even super rich people, but a good bit better than now!

[Hatuferu]

Probably this year plus there will be halving this year and that adds up the excitement of the people to invest in bitcoins. Due also to the altcoins developers who make a presentation on their projects then people would interest who is the pioneering of all the coins and that lead to finding out bitcoins.

[randy8777]

But what size does the market have to be to be big enough?
I would say at least 1 trillion, but that is a 150x rise from here.  I am optimistic, but I don't see 1 bitcoin being worth 50k anytime soon!

Baby steps should raise the cap to over 15 Billion again at some point, still chicken feed for economies and even super rich people, but a good bit better than now!

if we even manage to get the market cap of bitcoin to be 1% of the market cap of gold we can see that as a great achievement already. 1% of the market cap of gold equals $76,500,000,000.

[zimmah]

If banks/governments and companies as well as CEOs and investors and gold bugs all think of bitcoin as a safe asset class to hold 'just in case' and to split their capital a bit into another asset class (cryptos) then yes, bitcoin will take of big time.

if and when it happens remains the question, but when it happens we will notice, and it will likely rigger a chain reaction.

[Nimbulan]

The realization that bitcoin is a strategic global asset will trigger an "arms race".

Currently, the market cap of bitcoin ($7bn) is simply too small to facilitate a large buy of bitcoins from any governmental organization. If bitcoin started to surge globally, it could become of strategic interest to a government, and therefore other governments. I believe this would trigger something akin to a digital commodity race.

Read the article here : http://www.coindesk.com/2016%E2%80%8A-brought-bitcoin-awakening/ It's really interesting for those have some doubts

yes 2016 year is awesome for bitcoin because of many things, one important reason is openbazaar, people couldn't pay with bitcoins in ebay so they are happy that they can use it here

and steam now accepts bitcoins, and halving in July, all these things increases price of bitcoin and it will be more and more popular because of that, so it is good year for bitcoin

[katrimans]

yes, 2016 is best for bitcoins

[thejaytiesto]

The people that say that's "too late to get on bitcoin" when the market is not even 10 billion dollars yet is laughable. The potential for the Bitcoin price to go 6 figures during the next 10 years is so freaking high that I feel sorry for all the idiots that don't see this obvious opportunity to be a pioneer and profit from it becoming rich as fuck in the process, but then again, that's exactly why few make it.

[Bought]

If anything now is the time to buy into bitcoin. All going well with adoption price should continue to go up the next few months and years. imo if we get bitcoin to double what it is now in a couple years then its still a good investment.

[yayayo]

If governments and especially central banks would be led by intelligent people, they would have set aside a small pot of venture capital to invest in emerging technologies. Buying Bitcoin at its current valuation requires only minuscule financial resources for a central bank while at the same time having a potential of extremely high returns.

An arms race between central banks will only occur if purchases of Bitcoin by central banks will become public. Most probable, CB's will accumulate Bitcoin in secret. However once the first central bank announces that it already has bought Bitcoin, buying panic might ensue... The first movers will clearly win. If I had to bet I'd say it will be a rather small country that will move first.

ya.ya.yo!

[voztata]

It's going to be a lot of time for large investors to get their hands on bitcoins because most of the supply of bitcoins are already being held by some other big companies/individuals. Check out the richest addresses and you'll be surprised how much bitcoins are stored in them.

[angaper]

In fact I don't know why most central banks are still ignoring bitcoin, but are often recommending people to stay away from it. Perhaps government is not believing in the sustainability of altcoins in the long run.

[Kakmakr]

In fact I don't know why most central banks are still ignoring bitcoin, but are often recommending people to stay away from it. Perhaps government is not believing in the sustainability of altcoins in the long run.

They want to protect their own local fiat currencies and they have to stop things like capital flight. The governments doing this, is mostly corrupt and they have hidden agendas. The more honest governments < There are not a lot of them > says they want to protect the consumers against a possible threat, but that is also just a story.

The central banks are puppets for politicians to protect the interest of rich individuals and investors. If these people do not want Bitcoin to succeed they will use the governments to stop it.

[jossiel]

In fact I don't know why most central banks are still ignoring bitcoin, but are often recommending people to stay away from it. Perhaps government is not believing in the sustainability of altcoins in the long run.

Ofcourse, they are not into adopting bitcoins, because many hackers can just easily penetrate to their systems, there are still banks that doesn't have high security. if they are going to adopt that bitcoins of course they need to upgrade and security and it will cost them another big budget for that improvement,

[ASHLIUSZ]

In fact I don't know why most central banks are still ignoring bitcoin, but are often recommending people to stay away from it. Perhaps government is not believing in the sustainability of altcoins in the long run.

Ofcourse, they are not into adopting bitcoins, because many hackers can just easily penetrate to their systems, there are still banks that doesn't have high security. if they are going to adopt that bitcoins of course they need to upgrade and security and it will cost them another big budget for that improvement,

If bitcoin is adopted in its current raw form, it has the potential to undermine the longstanding bond between sovereign and its currency.
Bitcoin is becoming so prevalent throughout society that central banks will lose the power to control monetary policy.

[by.Szun]

In fact I don't know why most central banks are still ignoring bitcoin, but are often recommending people to stay away from it. Perhaps government is not believing in the sustainability of altcoins in the long run.

Because it takes away business from them! Bitcoin is a viable alternative to traditional currency, especially as digital payments become more ingrained in our day to day lives. If they were to promote Bitcoin and say "Hey, you lot should go download Electrum and look into using this to avoid middlemen", it takes away from their livelihoods of creating and regulating traditional currency. Ignorance is the best course of action, as if they were to actually look at it, they would be forced to say "This is a valid technology and a valid form of payment. Go utilize it where useful". By staying silent, they protect themselves.

To be fair to them, however, it could be that they're still concerned about the relative volatility in comparison to currency.