BitCoin 20 Years From Now

[z38630610]

We are now experiencing the efficient, fast and amazing convergence of technologies which one way or the other greatly contributing to the rise of the cryptocurrencies and making Bitcoin as the King of the Hill so far.

Looking into the future...what do you think will be the scenario involving Bitcoin twenty years from now? Will Bitcoin be worth more than a million or will it ceased to exist? Or will a new crytocurrency replace the supremacy of Bitcoin...?

It is hard to say that there will be another cryptocurrency against bitcoin. Because bitcoin is mother of all cryptocurrencies and mothers have never be forgotten.  Of course other coins will be appeared but I couldn't say they will grow up better than bitcoin.

[Al Ien]

From another topic


Suggested topic is devoted to discussion of Global Road Map of Bitcoin BTC



Based on following factors (I-IV) suggested for discussion is the Bitcoin Global Road Map (V).


I Number of active bitcoin wallets

According to Mr.Woo's http://woobull.com/woos-law-of-bitcoin-user-growth-bitcoins-adoption-curve/ research, bitcoin users double every 12 months. Mr. Woo makes corrections (S curve) based on real world human behaviour. Here comes wild idea that algorythms, based on mathematics and Laws of Universe are already changing real world human behaviour. Through smartphones, computers and gadgets they force us to move quicker to live more intense lives. They change us, attuning human schedule to Rythms of Universe, hence increasing people's efficiency.



II Halvings schedule (next is on June 12 2020) - recalculating of network difficulty

The network started on January 3 2009. First halving took place in 2012 which led to all time high of more than $1000 in November 2013. So, after halving bitcoin price can increase 10 fold. After next halving in 2016 we witnessed the power of third wave of bitcoin evolution in November 2017, when bitcoin rocketed to $7,900 and peaked $12,400 in Zimbabwe.
After next halving, which means that emission of bitcoin slows down and miners will be rewarded only 6.25 bitcoins (now 12.5) for one mined block. Which increases the cost of every mined coin. Because of the limited coins supply increases the price.


III Achievements of past 9 years of bitcoin existence

https://99bitcoins.com/bitcoinobituaries/ 183 times Bitcoin could die. No other technology/product/startup is known that could survive under such huge pressure. That shows mathematical correctness of the protocol, flexibility and stability of Bitcoin Protocol. That means Bitcoin can evolutionate. It can change. Like a snake that gets rid of old skin, bitcoin is moving further, leaving its forks behind. Open to whole world's pressure, represented by banks, governments and financial institutions from outside and numerous challenges in form of soft and hard forks from inside, Bitcoin became capable to digest these pressures in the process of becoming holistic (i.e. indestructable) technology.

The Bitcoin Technology (Protocol) is so advanced and multifaced (combined knowlegde from Game Theory, Economics, Programming, Finance, Cryptography, Quantum Mechanics) that still there are only a few people who completely understand this technology. Since the Bitcoin building is so huge, some people see only separate floors of this building. Some see financial implications. Some see social implications. Some see that this technology can change the world completely - there will be no need in banks, governments, Systems. Some see the future of the technology in VR and IOT. Some call it digital gold. Some - digital currency. Some - digital assets. Probably we see birth of new class of asset, to which quite another approach should be taken by regulators. It is nither currency nor goods. It is all together, all kinds of assets represented in one digital form.  
The Technology is self-balancing, coming to dynamic equilibrium from any internal or external impulse, be it soft/hard forks or governmental pressure/attacks, between 4-5 parties, such as Developers, Wallets (People interacting with this technology), Finance (financial institutions, institutional investors), Miners and IoT in the future (yes, the Robots). Bitcoins can be traded 24x7, time moves 20 times faster in the world of Bitcoin, which can accelerate growth of human economics.



IV Hello New World !!!!

Bitcoin technology gives you freedom. Independence. But it also has another side of the coin - Responsibility. Personal. You are responsible for your money and if you were not conscious building cryptocurrency portofolio you can loose your funds. If you transfer to wrong address, you can't undo. No banks can help. No insurance company. You bear all the risks.
That increases awareness. That leads to forming many people making decision to take their Fate into their own hands. To be independent from the governments and banks. To have their own opinion how to live their lives. That means new way of living. No borders. Decentralised education, stimulating people to think independently to make decisions by themselves. Probably there will be merging of old (centralized) and new (decentralized) approaches in the world. Decentralization (New World) offers Competition to old centralized world, which can lead to mutual growth in the dance of Evolution.



V Bitcoin Global Road Map

---------------------------1 Birth of Bitcoin---------------------------

2007            Bitcoin Design and Coding
2008            October - White paper published

---------------------------2 Bitcoin's childhood------------------------

2009 Year 1. January - genesis (first) block mined. Year 1 (started from October 31 2008)
2010 Year 2. Bitcoin exchanges and bitcoin exchange rate established
2011 Year 3. Satoshi Nakamoto leaves the project, as it became self-sustainable
2012 Year 4. First Halving.
2013 Year 5. November $1000 peak
2014 Year 6. Massive correction  
2015 Year 7. Gaining stability
2016 Year 8. Second Halving. Segwit
2017 Year 9. Segwit 2x.
                   Around 0.2% of people (10-15 mln) using Bitcoin  
                   80% of coins mined.
                   Global acceptance among institutional investors.
                   By the Year 10 (November and December 2017) all time high $7,900

---------------------------3 Sky (Bitcoin's adulthood )--------------------------

2018 Year 10. $14,000-$27,000 (Fifth wave by Elliot)
2019 Year 11. Technologies such as Lightning Network (momentary payments, no 10 min waiting) are implemented in
                      the second layer of Bitcoin protocol.
                      Next Segwit 3.
                      Around 1% of people using Bitcoin.
                      Massive correction (50%+)
2020 Year 12. Third Halving.
                      Around 2% of people using Bitcoin.
                      Recovery and movement to 6 digits.
2021 Year 13. Around 4% of people using Bitcoin.
                     This year we will see 6 digits.
                     $100,000 per Bitcoin
2022 Year 14. Around 7% of people using Bitcoin.
                     Consensus with banks and governments - they Must Change to Survive.
                     Bitcoin wons this competition and banks/governments are forced to demonopolize themselves and change
                     their Attitude - State is People's Servant. State has to Serve People.  
2023 Year 15. Around 12% of people using Bitcoin

------------------------4 Space (Bitcoin's maturity) -------------------------------------

2024 Year 16. Fourth Halving?
                     Around 25% people using Bitcoin.
                     Blockchain technologies massively implemented
2025 Year 17. $1 Mln per bitcoin.
                     50%+ people using Bitcoin.
                     Bitcoin goes into Space (literally, to Mars).
                     Blockstream orbital sattelites broadcast bitcoin transactions worldwide and in the entire Solar System.
                     Technologies such as Atomic Swaps are implemented in top cryptocurrencies.
2026 Year 18. Segwit 4.
                     Massive correction.
2027 Year 19. Recovery.
2028 Year 20. Fifth Halving? 80%+ of people using Bitcoin.
                     Over $10 mln per bitcoin.
                     Irreversable changes (80 - 20 Law) in Human Society driven by Bitcoin technology.
                     Social changes.
                     Change in System of Values of Man.

------------------------- 5 Hello New World---------------------------------------------------

2032 Year 24. New generation (since 2012) is formed.
                     Total acceptance of bitcoin by all people.
                     Total death of fiat money.
                     With the evolution of AI possible human race economics growth up to 10 times.
                     $100 mln per bitcoin.
                     1 satoshi = 1 usd.
                     2,000 trillion dollar human race economics (now equals to 70 trillion dollars ) potential growth (AI, IOT,
                     Space industry etc.)

[azguard]

It will be interesting to see. I just know that if you're holding right now until 20 years from now you'll be in a very special group of folks that have been it for so long because it's like we're the trailblazers before it is a mainstream thing that's everywhere and that is like a pre-programmed app on phone in the future.

We cannot see future but from this stance i dont see how could be different from now, except that bitcoin and all other good cryptos will be accepted all over the world and to be acknowledged as full payment method. This is something that will be bound to happen and this is what I hope for 20 years from now.

[Criptolog90]

I bellive in the next 20 years bitcoin will still on the top and there will see another alt coin as bitcoin.

[DrYe5]

It will be surpased by other, more developed crypto currencies. If you look back, two years ago neither Ether not Factom existed. Now they re quite important parts of crypto community. Everything changes.

My only fear regarding Bitcoin. Cryptos and the blockchain have a bright future, I have no doubt about it, but I hope Bitcoin can "keep the lead". Ethereum is proving to be better anonymity wise.

We can not predict what will happen in 20 years. If there was a chance, everyone would have spent all their money on the BTC or have already given up. It is beautiful that you have to take a little risk in your march for wealth.

[probittrader]

It will be surpased by other, more developed crypto currencies. If you look back, two years ago neither Ether not Factom existed. Now they re quite important parts of crypto community. Everything changes.

My only fear regarding Bitcoin. Cryptos and the blockchain have a bright future, I have no doubt about it, but I hope Bitcoin can "keep the lead". Ethereum is proving to be better anonymity wise.

I donot thik so eth maybe a very good crypto.
But if you say anonymity then DASH is no1.
They have master nodes for private send and that is instant.

[creative-raju33]

20 years from now bitcoin will be the valuable crypto currency in the internet world. By which anyone can be do any money exchange work or any business purpose payment work easily..

[Marry Finch]

Scenarios for the development of events related to bitcoin may be different. Especially if you think for 20 years ahead. It is safe to say that bitcoin by that time will change very much and will have new opportunities. By that time, the world should already switch to using crypto currency almost in all spheres of human life. It seems that bitcoin will be recognized as a digital currency in all countries and they can be calculated for most goods and services instantly and without any problems.

[jak3]

Ofcorse Bitcoin is going to leave for long, I do not expect Bitcoin to beat a million price, but I know that the price will be higher in 10 years. Anyway, I honestly think that we will have a better cryptocurrency then Bitcoin in the near future because Bitcoin can be seen as a prototype of what is coming next.

[jer]

I think that in 20 years will be the most flowering bitcoin, the peak of its popularity. Now, 8 years later, it is just beginning to sway and gain popularity, and as we can see, this process is not fast. And just 15-20 years later, everyone will know about Bitcoin, he will be actively used and paid for their purchases. This will happen because the generation will be replaced by a more advanced and computer literate one.

[leisha]

Bitcoin is currently at $7000 which is a long road from a no value in 2009. It was only eight years since bitcoin was develop and yet it has growth to much so expecting bitcoin in 20 years, we can say that it can cost for about a million dollars because it's price was increasing rapidly.

[pat4cryptoreal]

Bitcoin have not stayed up to 20 years and is making remarkable impact so if bitcoin stay up to 20 years it will bring great technological advancement globally.

[BlueLight22]

If nothing bad happens to bitcoin, its price will definitely go over 1m usd.

[East7547]

If it still exists in 20 years I think the price would be very interesting

[xBitHodler]

We are not future tellers. We are not able to predict what will be the price of the BTC in the future. We can't even predict what will happen in the next few days. I hope that Bitcoin will be constantly develop and the transaction will be much faster so they could be used in our daily lives. Just look what happens when the Bitcoin network is overloaded. My transaction to the exchange is still not confirmed after 6 hours with high fee paid.

[kingvirtus09]

I have nothing to say about bitcoin for sure 20 years from now is very different but let met tell you this cryptos are in the move already they may overcome bitcoin in terms of marketcap just like Ethereum in 2nd spot.

[Dewi08]

Maybe 20 years in the future bitcoin has been accepted by the public, even in the whole world, and all payments of any kind may already be using bitcoin payment system.

That's just my prediction for the future, depending on how people react to it ..

[MommyElsa]

Maybe bitcoin is still alive and being used by everyone by that time. Bitcoin is getting popular each day. Bitcoin price is increasing because demand also increases.

[trjm79]

When hundreds of billions of dollars come to the bitcoin market from the traditional financial industry, bitcoin will turn into a global digital currency. According to a Facebook IQ study, about 45% of people from the millennium generation would refuse banks, credit cards and brokerage accounts if they had a better option. Given this, it is likely that in the long run bitcoin will transform the global financial industry

[Agostosmori]

It is tough to say anything about bitcoin in 20 years. It is impossible to predict. I am pretty sure that in 20 years there will be totally new bitcoin use cases - that cannot be foreseen now. I would make a prediction just based on assumptions that bitcoin will survive and will grow by about 30% per year. I chose 30% because this is what expected from something risky as bitcoin.