BITCOIN PRICE IN 2050 - ACCORDING TO VITALIK BUTERIN!

[avikz]

1. What do people think of Vitalik’s interesting answer here, and his long-term prediction and reasoning for BTC and altcoins survival and growth in value?

2. Do you agree a BTC price of $100k by 2050 is a reasonable expectation based just on world GDP growth, and that a price of $1M by 2050 is quite possible with world GDP growth plus 10% BTC organic growth/adoption?

Absolutely it is possible. If bitcoin can reach upto 20k in 2017, it can easily reach 100k by 2050. We are yet to discover the vast application possibility of blockchain yet. It is just a p2p currency and an amazing investment as of now, but who knows what the future holds? I am sure majority of the countries will adopt bit by that time and people will be actively using Cryptocurrency by 2050. So 100k or even higher value is very much possible. At least I am optimistic about it.

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[vintages]

Here we go with another prediction  seriously, I don't know if I am the only one but I am seriously getting tried of one influencer investors quoting a long note why the price of bitcoin will be this or that in a supposed year. Though, this guy is realistic, cause its possible for bitcoin to see that price in 2050. From now till then, a lot of things might have happened, let's just wait till then to testify.

[Edward Finney]

I think the reasoning behind his prediction have been more measured than any other 100k plus prediction I've heard. I would say yes this is a very realistic possibility if not an understatement! His value prediction is based on bitcoin only rising in value at the rate of gdp . I think if still around in 2050 we will be seeing a million dollar coin and yes I see LTC going with it as the silver to BTC gold

[nikola22]

There are too many predictions nowadays but most of them are failed. Noone can predict the price of bitcoin till the end of 2018. And what to say about forecast for 30 years ))

[jeremypwr]

As many others have said, predictions for bitcoin and other cryptos in almost pointless and should not be taken too seriously.
In reality, anything at any time can happen, so it's not a good idea to put all of your chickens into one basket.

[Ondongeric18]

This idea is very nice. Should it rise up to that value it would be the talk of the town. Everybody will be investing and watching over it. It might happen that there will be groups pushing regulations. Remember that the amount is no joke. Hackers will also be a big problem as they might find it the best place for finding money. More like digging golds but online. This is just a scenario which I think could happen but I believe that the one's who are protecting bitcoins will be doing their best to protect it from these groups of people. Let the bitcoins live for the better.

[BitHodler]

Isn't Ethereum supposed to be superior in pretty much every way? If so, he should predict bitcoin to be close to zero, whilst ETH would be closer than $1m. Doesn't seem like he has much faith in his coin.

Vitalik isn't a fool like the majority of the people here are. It's the people constantly picking altcoins to be the potential Bitcoin killer, and not those behind the coins, because they know how much of an important role Bitcoin has.

Vitalik understands that Ethereum's main purpose isn't necessarily to compete with Bitcoin, but more so to follow its own path. Bitcoin and Ethereum are completely different protocols.

Point is that as long as Bitcoin keeps going up, the entire altcoin market keeps going up in terms of their fiat value. If you look at how the entire market has developed itself last year, then you understand how important Bitcoin is.

[September11Myth]

This prediction is totally wrong and for a number of reasons. We live in super complex times and we are witnessing the exponential rise of a lot of world's tendencies. This makes our system a very chaotic one, which means future becomes rapidly unpredictable, the more you depart from the present time. We might even already have had the technological singularity by 2050!
Thus predicting the price of Bitcoin for year 2050 is simply ridiculous. The only think I'm pretty sure is that Bitcoin won't exist at all in 2050. And by the way, most of the thing we actually know won't probably either.

[krigger]

I can never understand why people bother themselves trying to predict what happens to coins so far into the future, we can't even predict what is happening to bitcoin right now and what will happen to bitcoin in the next week or next month. Focus on the present and watch the market move naturally. No one should take predictions like this at face value, what matters is the market now and your coins in your wallet.

[Naficopa]

No one can predict what will happen by 2050. It does not matter who he is. So many different things can happen that will affect the price of bitcoin, including the fact that it may cease to exist until then.

[maksimukr1989]

We see that there is no stability in the cryptocurrency.The price can be unpredictable.But I don't think it can jump that much.

[Palmerson]

1. What do people think of Vitalik’s interesting answer here, and his long-term prediction and reasoning for BTC and altcoins survival and growth in

It's strange that Vitalik would paint such a rosy picture for Bitcoin's future. Isn't Ethereum supposed to be superior in pretty much every way? If so, he should predict bitcoin to be close to zero, whilst ETH would be closer than $1m. Doesn't seem like he has much faith in his coin.

Why would you think that? Maybe he believes in his coin, but he's really considering it. It does not seek to have Ethereum as coin No. 1. He is quite satisfied with the status of the owner of the coin №2. Agree it is also a great option. But I'm not sure that the constant experiments with Ethereum add to its popularity.

[boynamnhi]

Here’s Vitalik Buterin giving his long term outlook for BTC and LTC/other alts, which he thinks will likely go up in value long-term by at least the amount that world GDP increases - in a fascinating 4 minute video answer to a question from Felix, courtesy of ThomasJulianMiller:
https://youtu.be/VosfxChTxVg

And what is the prediction for the rate of increase in world GDP in the long-term. Here’s a comprehensive PwC report that predicts the world GDP will increase 130% by 2050, from its 2016 levels:
https://www.pwc.com/gx/en/issues/economy/the-world-in-2050.html

So taking BTC’s price at end-2016 of $950, and assuming Buterin is right that it’s price will rise at the rate of world GDP - then the projected BTC price in 2050 would be $123,500 ($950 x 130)! That’s a 13,000% increase on the $950 2016 price, and a nice 1,280% increase on today’s $9,640 price!  And I’m sure all of us who are in the first 0.5% of the world’s early adopters of Bitcoin and crypto would love to see a price like that for BTC in 2050, which is only 22 years away!

But there’s more! The price of BTC and the successful alts should also increase by at least one more multiple, as use of BTC and alts and investment in them penetrates 10% or more of the world population - as is likely to have happened by then especially in the E7 nations. So a BTC price of $1,000,000 or more by 2050 ($124K*10=$1.24M) is not an unreasonable prediction, factoring in world growth plus BTC’s organic growth - and that $1M price would be a whopping 105,250% increase on the 2016 price, and a very nice 10,375% increase on today’s BTC price!

And if Buterin’s well-reasoned prediction for the long term survival and growth of BTC and crypto pans out then when we’re finally able to look back at crypto prices with 20-year charts in 2050, we may well see that the crash now in prices even if they were to fall 90% from the Dec/Jan highs will look very similar to what are now only tiny blimps down in the early prices of Amazon and Apple in 2000 with the Dotcom crash as shown in the linked graphic - but which at the time in 2000 were massive 90% falls in the Amazon and Apple share prices, that very few people thought these companies could survive and recover from let alone make 50,000% gains in the 20 years to follow!
https://imgur.com/a/CurnU

Hindsight is a wonderful thing of course, for those of us who missed investing in the centralised companies monopolising and profiting from the Internet 2.0 - but Vitalik Buterin is a smart man who some call the genius of our age, and his potential foresight on where crypto stands and where it’s going shouldn’t be taken lightly. Hmmm getting in early this time on decentralised currency and the decentralised blockchain based Internet 3.0 anyone - food for thought! So ....

1. What do people think of Vitalik’s interesting answer here, and his long-term prediction and reasoning for BTC and altcoins survival and growth in value?
2. Do you agree a BTC price of $100k by 2050 is a reasonable expectation based just on world GDP growth, and that a price of $1M by 2050 is quite possible with world GDP growth plus 10% BTC organic growth/adoption?
3. Do you think LTC as mentioned by Buterin and other altcoins that survive and prosper will see similar gains of 13,000% by 2050 with just world GDP growth, or that they too may grow up to 100,000% by then with 10% organic growth/adoption thrown in as well?
4. Do these predictions help give you strong hands to hodl your BTC and favourite altcoins, and to buy more as the crypto market bottoms and sooner or later turns up to make new highs on its roller coaster long term ride? Just imagine if those Amazon and Apple charts are Bitcoins and the surviving successful altcoins charts in 20 years time - there may not be enough Lambos!!

You can see that with the fluctuations of the market at the moment, bitcoin prices are constantly fluctuating and falling sharply, we can not predict what. Bitocin prices are currently at $ 6700 and are down more than 70% from the end of 2017, when bitcoins reach $ 19800, so we do not know what the bitcoin will be in 2050.

I very much hope the bitcoin prices hit the $ 100k mark.

[mr.nby]

We see that there is no stability in the cryptocurrency.The price can be unpredictable.But I don't think it can jump that much.

Anticipating for such a long period of time is completely without purpose. No matter what expert does it. There are many factors affecting the price that such forecasts become just guessing.

[crypto_futurer]

Forecasts for 30 years ahead do not mean anything at all. The most experienced analysts predicting a price even for 1 year are still mistaken. Buterin is not an analyst and this is not a reasonable forecast.

[darewaller]

Here’s Vitalik Buterin giving his long term outlook for BTC and LTC/other alts, which he thinks will likely go up in value long-term by at least the amount that world GDP increases - in a fascinating 4 minute video answer to a question from Felix, courtesy of ThomasJulianMiller:
https://youtu.be/VosfxChTxVg

And what is the prediction for the rate of increase in world GDP in the long-term. Here’s a comprehensive PwC report that predicts the world GDP will increase 130% by 2050, from its 2016 levels:
https://www.pwc.com/gx/en/issues/economy/the-world-in-2050.html

So taking BTC’s price at end-2016 of $950, and assuming Buterin is right that it’s price will rise at the rate of world GDP - then the projected BTC price in 2050 would be $123,500 ($950 x 130)! That’s a 13,000% increase on the $950 2016 price, and a nice 1,280% increase on today’s $9,640 price!  And I’m sure all of us who are in the first 0.5% of the world’s early adopters of Bitcoin and crypto would love to see a price like that for BTC in 2050, which is only 22 years away!

But there’s more! The price of BTC and the successful alts should also increase by at least one more multiple, as use of BTC and alts and investment in them penetrates 10% or more of the world population - as is likely to have happened by then especially in the E7 nations. So a BTC price of $1,000,000 or more by 2050 ($124K*10=$1.24M) is not an unreasonable prediction, factoring in world growth plus BTC’s organic growth - and that $1M price would be a whopping 105,250% increase on the 2016 price, and a very nice 10,375% increase on today’s BTC price!

And if Buterin’s well-reasoned prediction for the long term survival and growth of BTC and crypto pans out then when we’re finally able to look back at crypto prices with 20-year charts in 2050, we may well see that the crash now in prices even if they were to fall 90% from the Dec/Jan highs will look very similar to what are now only tiny blimps down in the early prices of Amazon and Apple in 2000 with the Dotcom crash as shown in the linked graphic - but which at the time in 2000 were massive 90% falls in the Amazon and Apple share prices, that very few people thought these companies could survive and recover from let alone make 50,000% gains in the 20 years to follow!
https://imgur.com/a/CurnU

Hindsight is a wonderful thing of course, for those of us who missed investing in the centralised companies monopolising and profiting from the Internet 2.0 - but Vitalik Buterin is a smart man who some call the genius of our age, and his potential foresight on where crypto stands and where it’s going shouldn’t be taken lightly. Hmmm getting in early this time on decentralised currency and the decentralised blockchain based Internet 3.0 anyone - food for thought! So ....

1. What do people think of Vitalik’s interesting answer here, and his long-term prediction and reasoning for BTC and altcoins survival and growth in value?
2. Do you agree a BTC price of $100k by 2050 is a reasonable expectation based just on world GDP growth, and that a price of $1M by 2050 is quite possible with world GDP growth plus 10% BTC organic growth/adoption?
3. Do you think LTC as mentioned by Buterin and other altcoins that survive and prosper will see similar gains of 13,000% by 2050 with just world GDP growth, or that they too may grow up to 100,000% by then with 10% organic growth/adoption thrown in as well?
4. Do these predictions help give you strong hands to hodl your BTC and favourite altcoins, and to buy more as the crypto market bottoms and sooner or later turns up to make new highs on its roller coaster long term ride? Just imagine if those Amazon and Apple charts are Bitcoins and the surviving successful altcoins charts in 20 years time - there may not be enough Lambos!!

Lol that’s a very long time and I might not even have interest in Bitcoin by then. But anyway, whatever happens then I hope it’s for the good of Bitcoin, though I’m not the type of person that believes all these predictions. All they are fond of predicting is that Bitcoin will go up which never happens, and they never predict the negative things that will happen.

All the predictions I have seen ever since I got into investing in BTC were all false and not even a single one was correct. Even last year, no one was able to predict that the price will reach $19k, I can remember that what they predicted was $10k,but I wasn’t $10k rather it got above that. And when the price was around $17k or so, they were predicting that it will reach $20k, but that never happened rather it stopped at $19k😑. So they are always wrong.