Where Do You Want To See Bitcoins In 5 Years Time?

[GPU Rigs]

So a question for those of us who are new to the bitcoin game.

In five years time, where would you like to see bitcoins? Not necessarily from a monetary value standpoint, more in the general sense?

Id love to see it get to the point where it becomes accepted at major high street banks, have a checking, savings and a bitcoin account with the same branch.

So how about yourselves? Where would you like to see bitccoin in the next 5 years from a non monetary value standpoint?

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[Muhammad Mustafa]

- Being accepted by more merchants online
- Hits a 1k mark!

[limerijf123]

Being accepted by cabbies n clubs.

[Matthew N. Wright]

Gone, replaced by something better that doesn't require constant hashing/wasted energy and ASIC computers to keep free. The smartest people in the world are not yet even involved in Bitcoin. Bitcoin is leading the way, but I doubt it'll be the end all solution.

[lmotaku]

Gone, replaced by something better that doesn't require constant hashing/wasted energy and ASIC computers to keep free. The smartest people in the world are not yet even involved in Bitcoin. Bitcoin is leading the way, but I doubt it'll be the end all solution.

I can't agree with this, as mining creates venues of profit.(Which has it's ups and downs) While ASIC computers will kill it for hobbyists like myself to earn some money, using hardware I already got, or want to tinker with. Being a PC builder and interested in all forms of technology, I'd like to see a utopia where ASIC miners and GPU miners alike can still make reasonable money using hardware they have, for fun, and for their egos, aka, the nerdy hobbyists, who just like to experiment, and the much larger investors who look to make a huge business out of it.

Kinda like how we have Staples Techs, Apple nerds, and what not, and we have computer shops, tech guys, and private consultants. Everyone should be allowed to be involved, no matter what they bring to the table, everyone should get something. Maybe I'm hoping for too much.

[Mike Christ]

Gone, replaced by something better that doesn't require constant hashing/wasted energy and ASIC computers to keep free. The smartest people in the world are not yet even involved in Bitcoin. Bitcoin is leading the way, but I doubt it'll be the end all solution.

I can't agree with this, as mining creates venues of profit.(Which has it's ups and downs) While ASIC computers will kill it for hobbyists like myself to earn some money, using hardware I already got, or want to tinker with. Being a PC builder and interested in all forms of technology, I'd like to see a utopia where ASIC miners and GPU miners alike can still make reasonable money using hardware they have, for fun, and for their egos, aka, the nerdy hobbyists, who just like to experiment, and the much larger investors who look to make a huge business out of it.

Kinda like how we have Staples Techs, Apple nerds, and what not, and we have computer shops, tech guys, and private consultants. Everyone should be allowed to be involved, no matter what they bring to the table, everyone should get something. Maybe I'm hoping for too much.

GPUs will be dead when ASIC goes mainstream.  The point is, it's a waste of energy; finding the needle in the haystack for ten minutes to solve a block is a huge use of resource, hashing power that could've gone to some other good (some have mentioned foldingHome.)  It does, however, work, and until we find something else which works, this'll do for now.

[jzcjca00]

I'd like to see it used as a backup currency when some national currency fails due to reckless spending by its government.  Somewhere like Argentina, for instance.

If we have the appropriate infrastructure in place, it could prove to be easier, faster, cheaper, and more reliable than using USD as a backup.  The citizens of that country might like it so much that they refuse to switch to their government's next currency.

I'd then like to see worldwide acknowledgement that Bitcoin worked well as a currency of last resort.

Sound unlikely?  With today's infrastructure, it is probably impossible.  The currency needs to handle much more than the current limit of 3 transactions per second (~2000 per 10 minutes).  We need better wallets, almost as easy to use as cash (but without the fear of counterfeiting), secure enough that thieves cannot access the bitcoins within, impossible to lose bitcoins because everything is automatically backed up to a distributed cloud with no single point of failure.  If your device dies, replace it and resync to the the cloud, as long as you know all the security answers.

One by one we win over the people in various countries.

Remember, this is supposed to be a global currency, used by everyone,everywhere, every day, putting banks out of business and forcing governments to behave responsibly.  It is already fast and cheap.  Now it needs to be easy to use, idiot-proof, and more secure.

There's a lot of attention on fixing exchanges now, but we more urgently need a better wallet!

[BTCisthefuture]

Gone, replaced by something better that doesn't require constant hashing/wasted energy and ASIC computers to keep free. The smartest people in the world are not yet even involved in Bitcoin. Bitcoin is leading the way, but I doubt it'll be the end all solution.

I wouldn't be at all surprised if you end up being correct.  Bitcoin is an amazing concept and idea,  but it's not out of the realm of possibility that someone will take the concept of crypto p2p currency and make something even better than Bitcoin in the future.



To answer the OP's question:

* I would like to see better/more stable exchanges. I still feel current exchanges are very amaeture,  I think the problems with mtgox recently has only helped confirm that.

* I would like to see bitcoin a lot easier to use and more secure. I talk to too many people who don't get into bitcoin because it's simply too complicated for them and they would also most likely do a very poor job securing their wallet(s).

* More stability. The roller coaster ride has been fun and all but bitcoin will never be a realistic CURRENCY until it becomes stable like a normal currency is. Until it's more stable it will be a commodity/investment and not many people or merchants will have a desire to use it as a currency

* More merchants accepting bitcoin....of course I feel for this to happen a couple of my other complaints will need to be fixed (more stability and ease of use) before more merchants start accepting bitcoin.

[Cashitter]

So 2018. That's the year of the football world cup in Russia. I would like to pay my ticket for the final in Moscow with bitcoin!

[GreenPete]

I'd like to see bitcoin to make a serious contribution to 'international development' (though I don't really like that term). An international currency has a real potential for alternative economics in places on the periphery of the capitalist economy.

Also, in relation to the hue use of resources, it occurred to me last night that mining rigs could be used as 'dump loads' in renewable energy installations. I have a bit of experience of working with wind turbines, and there is often a need in small scale installations to have somewhere to put energy when there is too much to use or store. With wind turbines, this just needs to be a windy day.

Mining rigs could automatically turn on when the wind is blowing and all your batteries are full.

Pete
Egham Sustainability - www.eghamsus.co.uk

[wayfarer]

I'd like to see bitcoin to make a serious contribution to 'international development' (though I don't really like that term). An international currency has a real potential for alternative economics in places on the periphery of the capitalist economy.

Also, in relation to the hue use of resources, it occurred to me last night that mining rigs could be used as 'dump loads' in renewable energy installations. I have a bit of experience of working with wind turbines, and there is often a need in small scale installations to have somewhere to put energy when there is too much to use or store. With wind turbines, this just needs to be a windy day.

Mining rigs could automatically turn on when the wind is blowing and all your batteries are full.

Pete
Egham Sustainability - www.eghamsus.co.uk

This is good.  I can't see energy consumption being a huge issue for BTC if our governments ever let us move out of the stone age, or if we stop letting them control us like sheep.

I'd like to see bitcoin proving to be an effective medium for serving the honest needs of the world as far as currency is concerned...more than where bitcoin might be, I'd just like to see a few government officials actually try to start doing their jobs instead of just whoring themselves out to the highest bidders.

[Keylan]

500$usd +

[bitdraw]

i want to see it as an alternative currency, not only usable for a hand full of shops but for relevant goods as food and basic stuff
i want it to still be unregulated and free, basically stay the same  and dont change for worse

i really hope i doesnt turn out to be only a fun thing for specualtors, because i love the fundamentials of btc, and the idea behind it.

i also hope in countries where the government is extremely corrupt and unreliable people can use bitcoin to avoid getting ripped of. it could really do wonders for developing countries. the big problem we got here, is ofc that the dont really have access to tech/inet...

[aerobatic]

i want to buy a few physical bitcoins to leave in a safe (for my kids) for 15+ years and when the kids have grown up, see if theyre worth anything.   worst case, as a collectible theyre worth something more than zero.. but best case, they have appreciated in value and will be worth something substantial.

Aerobatic

[madsmith]

I'd like to see cards for bit coins sold in USA stores.

[Conundrum]

Accepted eagerly by many businesses and individuals, like at porcfest 2012

https://bitcointalk.org/index.php?topic=89714.0

except so commonplace that it's not news.

[webchris]

I would love to see bitcoins more accepted. I think every online retailer should offer payment via bitcoins (most at a discount) as they take far less risk (no chargebacks, etc.) and they avoid the sometimes high credit card processing fees.

Beyond that I really want to see a way I can pay with my phone for things are local retailers. I foresee an app where a retail establishment can give me a barcode or something to scan that has their wallet address and an amount, then I verify it and send it within seconds.

[Dunois]

Gone, replaced by something better that doesn't require constant hashing/wasted energy and ASIC computers to keep free. The smartest people in the world are not yet even involved in Bitcoin. Bitcoin is leading the way, but I doubt it'll be the end all solution.

Pretty much this. The way I see it, Bitcoin will do to currencies what Napster did to music sharing online: It'll change everything, then fade into relative obscurity. But it's impact will be felt for a loooooong time.

[JWade]

A long way off being used widely on highstreets, but used much more widely online.

[dorift_it]

I would love to see it become a more known currency all over te world.

[Ciber]

Hopefully, in a time of no more banks, I want to see the ability to pay bills (phone, power, water, internet) in bitcoins.
Not to mention, order any food I want in bitcoins, use bitcoins to have additions to my house.
Bitcoins to feed my dog...

Well.. I want bitcoins to be used with everything.

[whydifficult]

It has some great possibilities for spending money online shops (on a consumer level). It's also a pretty robust system to shift big $$$ through different currencies worldwide extremely cheap. However we'll have to found if governments will accept a currency that can't be easily controlled, understood and taxed.

Bitcoin has the potential to change the way we think about money.

[kingrob]

i would like to see bitcoins as a stable way to pay for goods

[nomoreh1b]

Bitcoin was designed to be something close to gold in some key ways. I'd like to see major gold holding entitities step in and peg bitcoin to gold at some fixed rate-and see a variety of alternative e-currencies established-including some that are more clearly private than bitcoin-but that retain the decentralized control bitcoin has. Bitcoin may evolve into providing the infrastructure for that(via stuff like colored coins)-but I can imagine even different stuff comes up.

[FractalEyes]

Stable at around 400 USD, with long term growth
Highly efficient exchanges
Very secure wallets and transactions
Accepted widely online
Greater ease of use implemented

[BitcoinPimp]

I would like to see this within 5 years of bitcoin:

- Receive all my bills in the mail-box with a QR code so i can flip out my phone, scan and pay them in a flash with my bitcoin-wallet without logging onto a Stone-Age looking web-bank account which by the way, is constantly attempted to be phished by scammers with fake emails all day long. Bitcoin = Problem solved.

- Walk into my grocery, pick up my food, scan a QR code at the exit, and off i go, soon to have a happy, stuffed stomac

- When I park my car, I should just walk up to a parking-ticket box, type in how long I should be parked, scan the QR code then receive a ticket i put in my car.

- Pay for everything on internet with bitcoin. I hope within 5 years, bitcoin completely killed paypal dead. Bye bye frustrations of paypal.

- Order plane-tickets using bitcoin. Both through web-sites and directly on the airport. And regardless what country I choose to go to, when I arrive, i should be able to purchase and pay for anything I want in that country using the awesomeness of "Flip out phone, scan QR code, click, finished!" - and off i go, happy as a clam.

[nejon]

I'd like to see a Bitcoin credit card and more merchants accepting Bitcoins

[keo]

I'd really love to see:

- a true Bitcoin backed debit card run by a solid company or bank
- NYSE grade exchanges
- Full set of currency services for Bitcoin based exchanges (stocks, options, futures, warrants, etc.)
- BTC being a ticker at the global Forex market
- 1 million merchants accepting BTC
- stabilized cross-currency prices
- more liquidity, market makers
- grandma could use it on her phone
- no terrabyte blockchain

[xcrowd]

- We will probably see Bitcoin flourish in the developing countries but mainly in Africa due to lack of trust in the regular monetary policies there prescribed by the IMF, World Bank.

- Can't predict the price but it will most likely pass the $1,000 mark as it would either die off within a couple of years or the mainstream will catch on before 2016 depending on the ease of transactions (currently it's a hassle).

- It would be amazing to see Bitcoin take on at least 1% of global daily electronic transactions.

[ukuna]

bitcoin will become a hit!!!

[fontas]

I project BTC to be surpassed by a superior coin in 2014-2015.

In the meanwhile, I will pumpndump alt coins.

[ukuna]

i think everything will become cheaper in the future

[M8R]

valued at $1000 per coin

[dreamhouse]

I think it depends on the governments. If US government declares bit coin illegal, then it's probably will become useless.

[MoneyCoin]

Better exchanges, more merchants, although  I can see it getting tied up with paypal for example, already in the talks, but its just a middleman for bitcoin, not what we want. Bigger countries will start adopting the concept of cryptocurrency further pushing the price up.  We can only hope most of us got in it early enough...

[wayfarer]

Well this is a fun thread to read through 9 mos. later.  All you hoping for $1000 within 5 years...  $945 today, down from ath of 1200 I think, and it's broken $1000 twice now. 

[Pixieblonde]

The sky is the limit! 

[bitemycoins]

- We will probably see Bitcoin flourish in the developing countries but mainly in Africa due to lack of trust in the regular monetary policies there prescribed by the IMF, World Bank.

- Can't predict the price but it will most likely pass the $1,000 mark as it would either die off within a couple of years or the mainstream will catch on before 2016 depending on the ease of transactions (currently it's a hassle).

- It would be amazing to see Bitcoin take on at least 1% of global daily electronic transactions.

I have to agree that there really is a lot of under served economies out there. It is important for Bitcoin to succeed to help these developing countries progress and be able to compete globally.

[Hashcesar84]

I wanna see bitcoins to the MOOOON!

[marycarroll]

I would like to see bitcoin not controlled by one source but, in some way there also needs to be regulations so that people are not ripped off.  I know there are problems with paypay, I can attest to that as I have personally been ripped off trying to sell through them.  In any business there are those that become greedy and try to take advantage of honest people.  But I also believe that dishonesty catches up with the dishonest. 

[hyphymikey]

In 5 years I would like to see bitcoin in my btc wallet.

I've managed to go from 300btc to 0.5btc in less than a year. Time to reverse that over the next 5.