Bitcoins true potential

[Slark]

Do you want to see Bitcoin True Potential? Just wait for next global economic crisis and every bank lover will be buying Bitcoin then.

Deutsche Bank is in trouble and most likely will fall - this would probably bring upon Europe crisis.

Today's scenario is awfully similar to what happened in 2008 after Lehman Brothers fell.

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[Newcoins2020]

Not sure what Bitcoin true potential is because to be real I do not pay any attention to that, I am only here to make some more money and noting else.
I know that people say that Bitcoin is going to take over the world but we have yet to see what will happen.

I think the true potential of bitcoin will be to reach the value over 5k and for it to be accepted globally in any shop.
This is ofcourse a big goal but that's the true potential for bitcoin and it could take very long to reach this point if ever.

[pooya87]

Not sure what Bitcoin true potential is because to be real I do not pay any attention to that, I am only here to make some more money and noting else.
I know that people say that Bitcoin is going to take over the world but we have yet to see what will happen.

I think the true potential of bitcoin will be to reach the value over 5k and for it to be accepted globally in any shop.
This is ofcourse a big goal but that's the true potential for bitcoin and it could take very long to reach this point if ever.

even if we someday see bitcoin accepted only on the internet, meaning all the shops that have a website and are selling through there start accepting bitcoin, then the price will go to the moon. the 5K$ is just the start of it all.

[MaritiJames3]

Bitcoins true potential is very high that's for sure we just have to wait it out and see if it's possible for it to reach it.
We as community can not do much except spread the word about bitcoin and keep the coins in a circulative motion by spending and earning.

[Xester]

Bitcoin price is based on the fiat currency USD.  Its price is unpredictable but we cannot deny the fact that after about less than a decade its become a big thing in the market.  Its price right now gone low compared to its price before but still the price of 1 btc is enough to cover my whole month expenses.  It is bigger in my salary as of today.

[xIIImaL]

Bitcoins true potential is very high that's for sure we just have to wait it out and see if it's possible for it to reach it.
We as community can not do much except spread the word about bitcoin and keep the coins in a circulative motion by spending and earning.

But we can make 16000 btc level amount only in mining after halving. So we had some demand and price value for the bitcoin around world wide. Most of the people will need bitcoin to centralized to use to easily. Even I .

[iqlimasyadiqa]

Bitcoins true potential is very high that's for sure we just have to wait it out and see if it's possible for it to reach it.
We as community can not do much except spread the word about bitcoin and keep the coins in a circulative motion by spending and earning.

provide knowledge about bitcoin toward others can create bitcoin price increases. because more and more people using bitcoin. bitcoin availability in the market will be increasingly in demand by all people.

[Ayers]

Bitcoins true potential is very high that's for sure we just have to wait it out and see if it's possible for it to reach it.
We as community can not do much except spread the word about bitcoin and keep the coins in a circulative motion by spending and earning.

But we can make 16000 btc level amount only in mining after halving. So we had some demand and price value for the bitcoin around world wide. Most of the people will need bitcoin to centralized to use to easily. Even I .

16000? where you have found this number? the current halving is 1800 coins produced per day, not 16000 lol, and in the next one will be 900, and it has nothing to do with the value of bitcoin, this is already known

[tee-rex]

There have been plenty of discussions from time to time on the price speculation of Bitcoin. Where do you guys see the price of one Bitcoin in the years to come? Most importantly, why? How would Bitcoin work? Bitcoin can not exist independently without any other currency, because then where do you derive its value? Imagine Bitcoin though is adopted worldwide, as a popular secondary means of processing transactions. What should the value be of a Bitcoin if literally every person who owned a bank account and debit and credit cards also used Bitcoin wallets and bitcoins daily

Bitcoin derives its value form being an Internet currency, fast and reliable against fiat transactions, slow and troublesome. In this fashion, it can exist without any other currency alongside. In my view, it would work even better in the latter case.

Also, as previous posters have noted, much of its value comes from speculation, why then it can't be said that it derives its value from speculation as well? Maybe, it's not the best way of using it, but it is still a far cry from claiming that it wouldn't exist if every person started to use bitcoins on a daily basis.

[Spaceman_Spiff]

There have been plenty of discussions from time to time on the price speculation of Bitcoin. Where do you guys see the price of one Bitcoin in the years to come? Most importantly, why? How would Bitcoin work? Bitcoin can not exist independently without any other currency, because then where do you derive its value? Imagine Bitcoin though is adopted worldwide, as a popular secondary means of processing transactions. What should the value be of a Bitcoin if literally every person who owned a bank account and debit and credit cards also used Bitcoin wallets and bitcoins daily

Bitcoin derives its value form being an Internet currency, fast and reliable against fiat transactions, slow and troublesome. In this fashion, it can exist without any other currency alongside. In my view, it would work even better in the latter case.

Also, as previous posters have noted, much of its value comes from speculation, why then it can't be said that it derives its value from speculation as well? Maybe, it's not the best way of using it, but it is still a far cry from claiming that it wouldn't exist if every person started to use bitcoins on a daily basis.

It's funny that so many people appear to be confused by this and claim that bitcoin derives its value from USD.  No, if you want to quantify something and put a number on it, you compare it (express it as a ratio) to something else of which you know the value.  Like if you want to express someone's body height in numbers you can say it is six times a foot, or 200 times a centimeter and so on.  Claiming that if the centimeter didn't exist, this person would have no height is nonsensical.

[ekoice]

Bitcoin for now is like subsidiary currency. Fiats are dominating and it is only possible to view bitcoin price in direct comparison to them.
But bitcoin is much more that simple paper money. It can be used in many ways, for example to store important information in the blockchain.
This feature alone, if used correctly and with plan will made 1 BTC worth more than $10.000.

It will take several decades for the bitcoin to be used a major currency. In the mean while, there should be more developments.

thats true, but it is definitely possible, in my opinion in several decades countries from around the world might be using it as an official currency
    Bitcoin price is valued according to the  value of fiat money the buyer is ready to pay.It increases and decreases in proportion to increse and decrease in demand and supply.However, when every one starts using bitcoins, then its value would increase very high and its true potential can be known at that time.

[serjent05]

There have been plenty of discussions from time to time on the price speculation of Bitcoin. Where do you guys see the price of one Bitcoin in the years to come? Most importantly, why? How would Bitcoin work? Bitcoin can not exist independently without any other currency, because then where do you derive its value? Imagine Bitcoin though is adopted worldwide, as a popular secondary means of processing transactions. What should the value be of a Bitcoin if literally every person who owned a bank account and debit and credit cards also used Bitcoin wallets and bitcoins daily

Bitcoin derives its value form being an Internet currency, fast and reliable against fiat transactions, slow and troublesome. In this fashion, it can exist without any other currency alongside. In my view, it would work even better in the latter case.

Also, as previous posters have noted, much of its value comes from speculation, why then it can't be said that it derives its value from speculation as well? Maybe, it's not the best way of using it, but it is still a far cry from claiming that it wouldn't exist if every person started to use bitcoins on a daily basis.

It's funny that so many people appear to be confused by this and claim that bitcoin derives its value from USD.  No, if you want to quantify something and put a number on it, you compare it (express it as a ratio) to something else of which you know the value.  Like if you want to express someone's body height in numbers you can say it is six times a foot, or 200 times a centimeter and so on.  Claiming that if the centimeter didn't exist, this person would have no height is nonsensical.

I observed that too, many are confused about where bitcoin value is derive from.  well maybe because most people roaming in here are just kids or young adults that has not  yet seen the reality of the world.  And most are non english speaking  in nature  so they are having trouble with the terms itself.  Even I have some though i tried to google it first to know what is the meaning of such word or is it appropriate for the statement.  And I agree that  most think that people get its value from   USD lol, which is not.

[Biodom]

Mainstream economist Bill Gross (bond king) talks about bitcoin, etc.
Quite amazing and sobering outlook. Not sure what to do at this juncture as far as my non-crypto assets are concerned.

https://www.janus.com/insights/bill-gross-investment-outlook

Bitcoin and privately agreed upon block chain technologies amongst a small set of global banks, are just a few examples of attempts to stabilize the value of their current assets in future purchasing power terms...

[tee-rex]

There have been plenty of discussions from time to time on the price speculation of Bitcoin. Where do you guys see the price of one Bitcoin in the years to come? Most importantly, why? How would Bitcoin work? Bitcoin can not exist independently without any other currency, because then where do you derive its value? Imagine Bitcoin though is adopted worldwide, as a popular secondary means of processing transactions. What should the value be of a Bitcoin if literally every person who owned a bank account and debit and credit cards also used Bitcoin wallets and bitcoins daily

Bitcoin derives its value form being an Internet currency, fast and reliable against fiat transactions, slow and troublesome. In this fashion, it can exist without any other currency alongside. In my view, it would work even better in the latter case.

Also, as previous posters have noted, much of its value comes from speculation, why then it can't be said that it derives its value from speculation as well? Maybe, it's not the best way of using it, but it is still a far cry from claiming that it wouldn't exist if every person started to use bitcoins on a daily basis.

It's funny that so many people appear to be confused by this and claim that bitcoin derives its value from USD.  No, if you want to quantify something and put a number on it, you compare it (express it as a ratio) to something else of which you know the value.  Like if you want to express someone's body height in numbers you can say it is six times a foot, or 200 times a centimeter and so on.  Claiming that if the centimeter didn't exist, this person would have no height is nonsensical.

An excellent analogy! I hope you wouldn't mind me using it occasionally? I've seen quite a few people repeating that story again and again all over the place. It is like an epidemic really. Someone said something (maybe, as a joke) and a lot of people started to parrot back as though a profound wisdom had been revealed to them.

I observed that too, many are confused about where bitcoin value is derive from.  well maybe because most people roaming in here are just kids or young adults that has not  yet seen the reality of the world.  And most are non english speaking  in nature  so they are having trouble with the terms itself.  Even I have some though i tried to google it first to know what is the meaning of such word or is it appropriate for the statement

Your English isn't perfect either.

[~Bitcoin~]

Bitcoin has an unlimited potential but if Bitcoin is going to be able to show us that is still unknown because many things can come in the way of bitcoin.
Like a other company taking over Bitcoin or Bitcoin in general just dying, we have to see for our selves what will happen.

Other company taking over bitcoin ? 
I think you mean to say other altcoin taking over bitcoin but chance of this is really low as not many new coins will find it easy to get the big support like bitcoin have gained over few years. Community support really adds great value to any cryptocoin.

[lionheart78]

Mainstream economist Bill Gross (bond king) talks about bitcoin, etc.
Quite amazing and sobering outlook. Not sure what to do at this juncture as far as my non-crypto assets are concerned.

https://www.janus.com/insights/bill-gross-investment-outlook

Bitcoin and privately agreed upon block chain technologies amongst a small set of global banks, are just a few examples of attempts to stabilize the value of their current assets in future purchasing power terms...

I think your non-crypto assets are fine since we live not only in crypto world but also in commodities needed by our body survival.

As for the bitcoin potential, considering the population of people involved, and the technical development of bitcoin being implemented,  Bitcoin true potential lies on the adoption of masses which really relies on the usage and integration of the coin.  If there is a platform where bitcoin can be easily access by all people with or without the internet then bitcoin true potential can be achieve.

Even I have some though i tried to google it first to know what is the meaning of such word or is it appropriate for the statement

Your English isn't perfect either.

What do you expect, he just admitted that his natural language is not english.

[exscudo]

I don't think there can be such a thing as a max price for BTC. There is literally no peg, no connection to commodities (excluding electricity for mining maybe). Let's try to answer a more fundamental question: why is btc valued? Or why is USD or euro valued?
They are easy to pay with, they are liquid and they are known as (more or less) safe way of transaction of your values.
The problem is that nobody knows for sure to what extent we will need BTC or any other currency like USD in the future. It is all highly unpredictable.

[Yakamoto]

Bitcoin has an unlimited potential but if Bitcoin is going to be able to show us that is still unknown because many things can come in the way of bitcoin.
Like a other company taking over Bitcoin or Bitcoin in general just dying, we have to see for our selves what will happen.

Other company taking over bitcoin ? 
I think you mean to say other altcoin taking over bitcoin but chance of this is really low as not many new coins will find it easy to get the big support like bitcoin have gained over few years. Community support really adds great value to any cryptocoin.

All the new coins that are coming out and exist are garbage anyways, and a majority of them are just pumped and then dumped by whatever community they may have had, even if they are something that is actually slightly revolutionary. The community always has and will be a big part of a cryptocurrencies success, and a lot of people who explore altcoins simply don't care about the continuation of a currency and care more about a quick profit.

[Spaceman_Spiff]

It's funny that so many people appear to be confused by this and claim that bitcoin derives its value from USD.  No, if you want to quantify something and put a number on it, you compare it (express it as a ratio) to something else of which you know the value.  Like if you want to express someone's body height in numbers you can say it is six times a foot, or 200 times a centimeter and so on.  Claiming that if the centimeter didn't exist, this person would have no height is nonsensical.

An excellent analogy! I hope you wouldn't mind me using it occasionally?

Thanks! Of course feel free to use it as often as you like  

[zimmah]

bitcoin does have a lot of potential but if it does not stay innovative it will lose to altcoins.

and currently it is losing a lot of market share to altcoins which is a very bad sign.

once lost, it will be nearly imposable to regain