Future of Bitcoin Economics

[Capradina]

Bitcoin is growing fast and it's price is already increasing with time, so we can predict that it have really shining future.

That is going to be the future of bitcoin, as long as many are going to use it is going to help the economics of bitcoin to have good future.
Because ones many people are already using it, it is going to help the adoption of bitcoin to the people and if that happens the demand is going to be strong and higher price is going to happen.

The future will come and we will witness a massive adoption of bitcoin, now is the time to take the opportunity to invest and focus only in investment as the future is bright. I like to say that we should invest as much as we can so we will all be rich in the future.

A year ago, I might agree with that. But now, with the development of the altcoins, I will doubt that. The altcois are more innovative.

even though altcoins get bigger and bigger but still everything is set around bitcoin so i think bitcoin is always going to be the biggest crypto

Definitely, no doubt about it, if bitcoin will die the same will happen to all altcoins. Altcoins is just the children of bitcoin and without bitcoin they are nothing. With today's new developed altcoins, they somehow help bitcoin as in their promotion they always acknowledge bitcoin.

That is certainly true. that altcoin that is now circulating is one of the media promotion for introduction of the bitcoin in society at large. Because I noticed that all the altcoin always use the rate or value by using bitcoin, only a few altcoin who use $ as the standard sales. But I still use the bitcoin rate in some respects.

[Positid]

Bitcoin is growing fast and it's price is already increasing with time, so we can predict that it have really shining future.

That is going to be the future of bitcoin, as long as many are going to use it is going to help the economics of bitcoin to have good future.
Because ones many people are already using it, it is going to help the adoption of bitcoin to the people and if that happens the demand is going to be strong and higher price is going to happen.

The future will come and we will witness a massive adoption of bitcoin, now is the time to take the opportunity to invest and focus only in investment as the future is bright. I like to say that we should invest as much as we can so we will all be rich in the future.

A year ago, I might agree with that. But now, with the development of the altcoins, I will doubt that. The altcois are more innovative.

even though altcoins get bigger and bigger but still everything is set around bitcoin so i think bitcoin is always going to be the biggest crypto

Definitely, no doubt about it, if bitcoin will die the same will happen to all altcoins. Altcoins is just the children of bitcoin and without bitcoin they are nothing. With today's new developed altcoins, they somehow help bitcoin as in their promotion they always acknowledge bitcoin.

That is certainly true. that altcoin that is now circulating is one of the media promotion for introduction of the bitcoin in society at large. Because I noticed that all the altcoin always use the rate or value by using bitcoin, only a few altcoin who use $ as the standard sales. But I still use the bitcoin rate in some respects.

The crypto world are getting better every time due to the new development of altcoins, they have all the platforms necessary for the success of bitcoin so we cannot tell that bitcoin will not succeed in the future for many years as even if it is just a non modified system but altcoins are always their to help and modify their system to support bitcoin.

[CrimBit]

Future of Bitcoin Economics depends on mass adoption of Bitcoin. No body can predict accurately the true future of Bitcoin.

 Yes, it can be said to be unpredictable but if we do not commercialize to the people, then bitcoin will not be able to grow and will meet the very end will not want us to hear it, that there will be no more people who want to use bitcoin.

[noormcs5]

Future of Bitcoin Economics depends on mass adoption of Bitcoin. No body can predict accurately the true future of Bitcoin.

Actually future is a hidden thing, so we can guess or predict only and nothing more, but reality is total different, because we all don't know about the happening in future, if we couldn't understand what is happening in future, and than we ask with each other what will be happened in future?, So the answer is simple we can only predict it. As i am predict that bitcoin would be have bright future.

[expert4knowledge]

Future of Bitcoin Economics depends on mass adoption of Bitcoin. No body can predict accurately the true future of Bitcoin.

 Yes, it can be said to be unpredictable but if we do not commercialize to the people, then bitcoin will not be able to grow and will meet the very end will not want us to hear it, that there will be no more people who want to use bitcoin.

We can have a surmise for future of bitcoin, one thing is trends. Just you can check the trends of number of bitcoin users and number of online shops which accept it, these suggest an increasing adoption.

[mirakal]

Future of Bitcoin Economics depends on mass adoption of Bitcoin. No body can predict accurately the true future of Bitcoin.

 Yes, it can be said to be unpredictable but if we do not commercialize to the people, then bitcoin will not be able to grow and will meet the very end will not want us to hear it, that there will be no more people who want to use bitcoin.

We can have a surmise for future of bitcoin, one thing is trends. Just you can check the trends of number of bitcoin users and number of online shops which accept it, these suggest an increasing adoption.

Maybe we are still a small economy for now but the increasing adoption is a good sign for the success in the future. That is all we need for now to see some improvement as we are betting to see the price increase of bitcoins in the future by investing our money.

[Herbert2020]

but that is not the only thing i meant, i mean new services like Steam that start accepting bitcoin. new people who start buying bitcoin and spending it instead of fiat.
in my personal experience in my country i have seen many people who are becoming more interested in bitcoin, a lot have been asking me (on another forum in my language out of here) about bitcoin and how they can buy it because they want to use bitcoin for a payment of some services like buying a VPN or paying for their hosting plans, and many more.

I've been hearing about Steam using Bitcoin (or being just about to start using it) since I registered in this forum. I guess 3 years is more than enough to declass it as a "new" service. Someone said that Microsoft was going to use Bitcoin as well (or had already been using it). Wtf, I heard it myself, but when I asked to provide a link where I could actually buy something from them (for Bitcoins), silence was the only reply I got. But it's all idle talk since I am expecting a sort of research paper (if there is any) with numbers showing that Bitcoin usage does really expand...

And not someone's speculations bordering on wishful thinking (no offense intended)

i don't know about Microsoft, they say all kinds of things about crypto and azure that i don't find interesting to follow

but about steam i have to say people have been begging steam to add bitcoin payment to their system long before you registered here (2013-11) they have been asking it back in 2012 but they were resisting.
and this year since they requests grew a lot (the number of tickets their support received asking them and also developers asking for bitcoin payment) they added bitcoin payment through bitpay on ~Apr 27, 2016 (about 4 months) https://blog.bitpay.com/load-your-steam-wallet-using-bitcoin/

[boyptc]

Future of Bitcoin Economics depends on mass adoption of Bitcoin. No body can predict accurately the true future of Bitcoin.

 Yes, it can be said to be unpredictable but if we do not commercialize to the people, then bitcoin will not be able to grow and will meet the very end will not want us to hear it, that there will be no more people who want to use bitcoin.

We can have a surmise for future of bitcoin, one thing is trends. Just you can check the trends of number of bitcoin users and number of online shops which accept it, these suggest an increasing adoption.

Maybe we are still a small economy for now but the increasing adoption is a good sign for the success in the future. That is all we need for now to see some improvement as we are betting to see the price increase of bitcoins in the future by investing our money.

If there are more and more big companies that are going to accept bitcoin as a term of payment for sure that is going to be a big help for the adoption of bitcoin. Almost all of the gaming platforms that I'm using were already accepting bitcoins. And that is a good sign that the economics of bitcoin is really keep on rising.

[Palodar]

Future of Bitcoin Economics depends on mass adoption of Bitcoin. No body can predict accurately the true future of Bitcoin.

 Yes, it can be said to be unpredictable but if we do not commercialize to the people, then bitcoin will not be able to grow and will meet the very end will not want us to hear it, that there will be no more people who want to use bitcoin.

We can have a surmise for future of bitcoin, one thing is trends. Just you can check the trends of number of bitcoin users and number of online shops which accept it, these suggest an increasing adoption.

Maybe we are still a small economy for now but the increasing adoption is a good sign for the success in the future. That is all we need for now to see some improvement as we are betting to see the price increase of bitcoins in the future by investing our money.

If there are more and more big companies that are going to accept bitcoin as a term of payment for sure that is going to be a big help for the adoption of bitcoin. Almost all of the gaming platforms that I'm using were already accepting bitcoins. And that is a good sign that the economics of bitcoin is really keep on rising.

Actually the market of bitcoin is obviously rising because of what current price it have. The problem is the legality of using it and how the government accept it in the constitution seems it is use in different illegal transaction.


But im very optimistic to visualize that bitcoin can be use in any type of payment just like a fiat. Imagine you your taxi bill using bitcoin and no need for change. Life makes easier. Hahaha

[deisik]

I've been hearing about Steam using Bitcoin (or being just about to start using it) since I registered in this forum. I guess 3 years is more than enough to declass it as a "new" service. Someone said that Microsoft was going to use Bitcoin as well (or had already been using it). Wtf, I heard it myself, but when I asked to provide a link where I could actually buy something from them (for Bitcoins), silence was the only reply I got. But it's all idle talk since I am expecting a sort of research paper (if there is any) with numbers showing that Bitcoin usage does really expand...

And not someone's speculations bordering on wishful thinking (no offense intended)

i don't know about Microsoft, they say all kinds of things about crypto and azure that i don't find interesting to follow

but about steam i have to say people have been begging steam to add bitcoin payment to their system long before you registered here (2013-11) they have been asking it back in 2012 but they were resisting.
and this year since they requests grew a lot (the number of tickets their support received asking them and also developers asking for bitcoin payment) they added bitcoin payment through bitpay on ~Apr 27, 2016 (about 4 months) https://blog.bitpay.com/load-your-steam-wallet-using-bitcoin/

Well, somehow I expected that HL3 will be released sooner than Valve would start accepting bitcoins (if you know what I mean). But as always later is still better than never...

Now we should all start praying for HL3, and the world will be bright again

[elyas772]

Future of Bitcoin Economics depends on mass adoption of Bitcoin. No body can predict accurately the true future of Bitcoin.

Actually future is a hidden thing, so we can guess or predict only and nothing more, but reality is total different, because we all don't know about the happening in future, if we couldn't understand what is happening in future, and than we ask with each other what will be happened in future?, So the answer is simple we can only predict it. As i am predict that bitcoin would be have bright future.

agree with you future is unpredicable, no people know more about future, maybe bitcoin will be 1st cryptocurrency in the world but sometimes i thinking bitcoin will be dead like other old payment system

[serjent05]

Future of Bitcoin Economics depends on mass adoption of Bitcoin. No body can predict accurately the true future of Bitcoin.

Actually future is a hidden thing, so we can guess or predict only and nothing more, but reality is total different, because we all don't know about the happening in future, if we couldn't understand what is happening in future, and than we ask with each other what will be happened in future?, So the answer is simple we can only predict it. As i am predict that bitcoin would be have bright future.

agree with you future is unpredicable, no people know more about future, maybe bitcoin will be 1st cryptocurrency in the world but sometimes i thinking bitcoin will be dead like other old payment system

I agree, it an be unpredictable but somehow price can be sort out in the future.  You can increase the price of anything by simplay planning on how to increase the demand of it.  Putting up lots of stuff that needs bitcoin will generally put a demand pressure and then the effect of it is bitcoin having an increase in price.

[youhgt2]

future of bitcoin economics is rally looking good to me, hope that in future bitcoin will be the only crypto currency and all the people and states will give preference to bitcoin, hope that bitcoin will be the first priority currency of the people.

[oceanriver]

Future of Bitcoin Economics depends on mass adoption of Bitcoin. No body can predict accurately the true future of Bitcoin.

Actually future is a hidden thing, so we can guess or predict only and nothing more, but reality is total different, because we all don't know about the happening in future, if we couldn't understand what is happening in future, and than we ask with each other what will be happened in future?, So the answer is simple we can only predict it. As i am predict that bitcoin would be have bright future.

agree with you future is unpredicable, no people know more about future, maybe bitcoin will be 1st cryptocurrency in the world but sometimes i thinking bitcoin will be dead like other old payment system

well it is possible to predict it to be honest, however not too accurate though i can say that the price overall trend is going to be up for sure

[dmarine]

When we think about the possibilities... there are actually many. I believe that next year the new applications of blockchain technologies will bring bitcoin closer to the mainstream.

[Positid]

When we think about the possibilities... there are actually many. I believe that next year the new applications of blockchain technologies will bring bitcoin closer to the mainstream.

Not too early dude, we need massive adoption to realize it in becoming the mainstream currency, for now we should all support bitcoin so we can share it to people who are constantly doing online transaction using expensive payment processor, when merchants see we are a big market already and the price will be stable they will come in.

[~Bitcoin~]

When we think about the possibilities... there are actually many. I believe that next year the new applications of blockchain technologies will bring bitcoin closer to the mainstream.

Actually this is true however there is always a possibility of bad events around bitcoin like recent bitfinex hack which have dumped the price to more than 20% within one day which shows how volatile is the bitcoin market/ecosystem. It will require lot more development in the field of bitcoin adoption as well as we need more new investors daily to increase market cap.

[Kaller]

When we think about the possibilities... there are actually many. I believe that next year the new applications of blockchain technologies will bring bitcoin closer to the mainstream.

Actually this is true however there is always a possibility of bad events around bitcoin like recent bitfinex hack which have dumped the price to more than 20% within one day which shows how volatile is the bitcoin market/ecosystem. It will require lot more development in the field of bitcoin adoption as well as we need more new investors daily to increase market cap.

As the bitcoin grows bigger, the bad events like the Bitfinex hack will grow smaller. The lost coin is just 120k, lower than the MT Gox 800.000.

[deisik]

When we think about the possibilities... there are actually many. I believe that next year the new applications of blockchain technologies will bring bitcoin closer to the mainstream.

Actually this is true however there is always a possibility of bad events around bitcoin like recent bitfinex hack which have dumped the price to more than 20% within one day which shows how volatile is the bitcoin market/ecosystem. It will require lot more development in the field of bitcoin adoption as well as we need more new investors daily to increase market cap.

As the bitcoin grows bigger, the bad events like the Bitfinex hack will grow smaller. The lost coin is just 120k, lower than the MT Gox 800.000.

Whether Bitcoin grows bigger is obviously irrelevant to the effect of hacks like that of Bitfinex (in relative terms). You evidently forget that the number of coins is still ultimately limited to 21M. Strictly speaking, after reaching that limit (in fact, even before that) the number of coins in circulation, i.e. primarily used for trading, will start to diminish (e.g. due to coins lost or stashed for good) with all ensuing consequences. In other words, even lesser amount of stolen bitcoins will have greater effect on the Bitcoin price, quite contrary to what you are claiming...

And in no case you can get away from this simple arithmetic

[serjent05]

When we think about the possibilities... there are actually many. I believe that next year the new applications of blockchain technologies will bring bitcoin closer to the mainstream.

Actually this is true however there is always a possibility of bad events around bitcoin like recent bitfinex hack which have dumped the price to more than 20% within one day which shows how volatile is the bitcoin market/ecosystem. It will require lot more development in the field of bitcoin adoption as well as we need more new investors daily to increase market cap.

As the bitcoin grows bigger, the bad events like the Bitfinex hack will grow smaller. The lost coin is just 120k, lower than the MT Gox 800.000.

Whether Bitcoin grows bigger is obviously irrelevant to the effect of hacks like that of Bitfinex (in relative terms). You evidently forget that the number of coins is still ultimately limited to 21M. Strictly speaking, after reaching that limit (in fact, even before that) the number of coins in circulation, i.e. primarily used for trading, will start to diminish (e.g. due to coins lost or stashed for good) with all ensuing consequences. In other words, even lesser amount of stolen bitcoins will have greater effect on the Bitcoin price, quite contrary to what you are claiming...

And in no case you can get away from this simple arithmetic

It may have a huge effect in this coming days or months  but eventually this hack will be forgotten and the bitcoin economy will continue to bloom.  Just what happened in the previous years.  Besides it is not the bitcoin security fault but the security of the site that faulter.   As long as people believe and use bitcoin, development and security is evolving, confirmation issue fixed, Bitcoineconoy will  continue to flourish.