Circle CEO on BTC: Nobody Will Be Using Bitcoin in 5 to 10 Years

[davis196]

The source of the statement is from this article http://www.newsbtc.com/2016/11/20/circle-ceo-nobody-will-using-bitcoin-5-10-years/

So I ask this. As the growth of the darknet market place every year keeps going higher and higher, the possibility of it becoming a multi billion market place is not too far to reach. What currency will it use if not Bitcoin?

Does the CEO of Circle knows what he is talking about at all? Most of the so called "experts" in the Bitcoin and blockchain world do not know what they are talking about because it is all still new.

For me the people to listen to about blockchains are Peter Todd, Gregory Maxwell, Adam Back, Luke-Jr and there might be some names I have forgotten so please post them in here.

Maybe the darknet users will start using some altcoin.Who knows....

Bitcoin might really become obsolete after 5-10 years or bitcoin might evolve to something

totally different.

[I Am Hero]

The source of the statement is from this article http://www.newsbtc.com/2016/11/20/circle-ceo-nobody-will-using-bitcoin-5-10-years/

So I ask this. As the growth of the darknet market place every year keeps going higher and higher, the possibility of it becoming a multi billion market place is not too far to reach. What currency will it use if not Bitcoin?

Does the CEO of Circle knows what he is talking about at all? Most of the so called "experts" in the Bitcoin and blockchain world do not know what they are talking about because it is all still new.

For me the people to listen to about blockchains are Peter Todd, Gregory Maxwell, Adam Back, Luke-Jr and there might be some names I have forgotten so please post them in here.

this guy has been high when doing this interviw because he sounds high and without any brain to me!

[xuan87]

well everybody could speculate and everybody is welcome to make an arguments, but for me, seeing from the bitcoin users growth and the enthusiastic i think bitcoin will be able to survive for a long time, but it all depends on the user, if nobody try to destroy bitcoin, then we will still be able to used bitcoin for a long long time

[Victorycoin]

As long as there's demand for bitcoin, it's going to stay there (bitcoin). And we've seen that ever since the introduction of bitcoin it's demand has grown exponentially. People might have thought the same as that CEO when bitcoin was invented or came into existence very first but it's still here and the number of people embracing this awesome digital currency is increasing incredibly daily so whatever that CEO says shouldn't be given much importance.

With the fiat currencies failing people by the day it is just a natural consequence for people to migrate to what brings them security, peace and hope, which is what bitcoin can readily bring on. In 5 to 10 years, I see people wishing, they had taken bitcoin serious, years back, because the appreciation in price will beat expectations.

[Wind_FURY]

Does the CEO of Circle knows what he is talking about at all? Most of the so called "experts" in the Bitcoin and blockchain world do not know what they are talking about because it is all still new.

For me the people to listen to about blockchains are Peter Todd, Gregory Maxwell, Adam Back, Luke-Jr and there might be some names I have forgotten so please post them in here.

Well and there is statement from Jessi Baker the founder of provenance, and i think it is bad news about bitcoin usage too and i have made thread on here https://bitcointalk.org/index.php?topic=1687907.msg16942497#msg16942497
I hope give us more knowledge about bitcoin and other cryptos coins, thanks.

I am speechless on that thread of yours. It may be too deep for us that we may need the people like Adam Back or Peter Todd to decipher the meaning of your text. I suggest everyone to go read it and good luck trying to understand it.

But seriously this is what I think, as long as there are niche markets for Bitcoin like the dark market then there will always be a need for it unless the banks decide to serve those illegal markets themselves. If the banks do not want to serve some sectors in any market, Bitcoin will fill the gaps.

[CraigWrightBTC]

I don't think so, because today there are many countries and companies that supports and making investment into bitcoins and other digital currencies and there are many developers of coins who made innovation into them, include bank Swiss and it is mean progress of bitcoins and digital currencies growing bigger, if It still is like this in 5 to 10 years will there are many people be using bitcoins.

[MingLee]

Ballsy statement to say something like that. Maybe they just have enough power now that they can instill themselves as a large placeholder over any new cryptos popping up?

I haven't read the quote, so I will assume for this that he might be talking about the current iteration of Bitcoin, namely 1MB blocks, 10min transaction times, and so on. As such, he might have a point, but we don't know for a fact.

[DimensionZ]

I don't want to comment on his words because he is an Internet entrepreneur and technologist and he surely knows his stuff. Plus belittling a CEO is outside of my pay grade anyways 

However if high-ranking people like him think that Bitcoin will not survive in the long-term, I suppose the issues and limitations lie within the current technology itself. Maybe he knows something we don't know. I would take his words with a grain of salt, though.
We must not forget that the next big thing might be around the corner. Technology never stays stagnant and new developments might emerge soon. I don't think we should invest all of our eggs into the Bitcoin's basket 

[shamzblueworld]

Well I'm no expert but I know this for a fact that no one can be certain about what's gonna happen in 5 years from now. And I disagree with his claim, I don't think it will die this quickly. The price can vary, maybe it will go up or down or stay about the same but I don't think it can vanish so quickly.

[iamnotback]

Circle CEO on BTC: Nobody Will Be Using Bitcoin in 5 to 10 Years

The source of the statement is from this article http://www.newsbtc.com/2016/11/20/circle-ceo-nobody-will-using-bitcoin-5-10-years/

Does the CEO of Circle knows what he is talking about at all?

I think he will end up being correct:

But for iamnotback, where does he sees Bitcoin in the long term (10 - 15 years), for price and technology ?

Waiting to hear from you

I am biased because I think I will kill Bitcoin in a few years.

But as for crypto-currency, I see it widely adopted in less than 15 years. Probably less than 6 more years.

[Milkduds]

Some of these established sites have other agendas in play and manipluting the markets and perception seem to be ongoing issues with bitcoin in general.
No one can see that far down the line for bitcoin as it has yet to be positively connected to one thing in the market yet! Its pure speculation for the most part on the Chinese,India or future regulations.
Find the more power some one has in the bitcoin community the more they are willing to partake in swaying public opinion one way or another.

[thejaytiesto]

The source of the statement is from this article http://www.newsbtc.com/2016/11/20/circle-ceo-nobody-will-using-bitcoin-5-10-years/

So I ask this. As the growth of the darknet market place every year keeps going higher and higher, the possibility of it becoming a multi billion market place is not too far to reach. What currency will it use if not Bitcoin?

Does the CEO of Circle knows what he is talking about at all? Most of the so called "experts" in the Bitcoin and blockchain world do not know what they are talking about because it is all still new.

For me the people to listen to about blockchains are Peter Todd, Gregory Maxwell, Adam Back, Luke-Jr and there might be some names I have forgotten so please post them in here.

I think Circle is going to go bankrupt very soon and they know it, so they are mad at bitcoin and now they are shitting on it. They keep losing customers because they keep annoying them by blocking their money and so on. I understand that they are trying to be a company that complies with strict regulations but it seems people that want to use bitcoin want to avoid all of that.

[eternalgloom]

Some companies are just getting into Bitcoin right now, I think it's still too early to make a statement like that.
Bitcoin has a lot of potential, I can't imagine what will happen if we see another economic crisis.

[bitjoin]

If you notice some of the leading players in the industry seem to say stuff like this when we are very toppy.  He said this statement right around $760 iirc or at the start of the way back down to $700.  

[Victorycoin]

I think Circle is going to go bankrupt very soon and they know it, so they are mad at bitcoin and now they are shitting on it. They keep losing customers because they keep annoying them by blocking their money and so on. I understand that they are trying to be a company that complies with strict regulations but it seems people that want to use bitcoin want to avoid all of that.

I think you have a point there, sudden outburst like that are meant to tag a dog a bad name, just so it would be hung. He could not have ventured into a bitcoin company without doing due diligence or was it for the fun of it? So it is questionable why the sudden turn? At any rate, what gives any currency value is people's willingness to accept it as means of payment and since bitcoin is already having such a huge community, I doubt the absent of one person would in any way mean end of the road for bitcoin.

[jyakulis]

We need to cater to criminals more. And the minting process needs revision. What do I care though? Never been one for being the loudest in the room...

[Herbert2020]

many other bigger guys before this douchbag claimed bitcoin to be dead in a couple of years with different numbers in mind and until this day none of their crap has came true so far. and reading what he had to say i have to say he has no idea what he is talking about and also it is possible that these crappy news sites like this one and others changed the interview too!

[chichidori]

Nobody uses it five years ago and now its worldwide as long as their is a market for bitcoin it wont die out that easily, we speculate a lot when it come the price and usability  of bitcoin.

[Denker]

Nobody uses it five years ago and now its worldwide as long as their is a market for bitcoin it wont die out that easily, we speculate a lot when it come the price and usability  of bitcoin.

To me it looks like he is desperate to get some attention.
Maybe his company and the business model isn't working out as expected.
Wouldn't be the first company having tough times.I mean look what Coinbase is doing the last 2 years and how much their repuation has declined in the space.Imo Circle isn't doing that much better.
That could be a reason why such companies start spitting on Bitcoin now.

[Denker]

https://www.reddit.com/r/Bitcoin/comments/5gxy5e/new_ventures_of_old_bitcoin_circle_phasing_out/

https://support.circle.com/hc/en-us/articles/217972003

As many of us here already expected, Circle is going Blockchain now!
Buying and selling Bitcoin with Circle will be over soon.
So if you have an account with them think about what you're going to do!