Why I do believe we will see in the coming decade or 15 years a market cap of $1T, what do you think ?
I see $11B is really nothing and it's just a warm up.
About 2 years ago I really thought Bitcoin would be superseded. I hedged a bit a bit into Peercoin because I thought that would overtake it due to its optimised design for "trunk capacity" i.e. the way the fees and the algo were structured were specifically to drive it into the role of a "financial backbone" as its designer had envisaged a multi-layered financial cryptocurrency system well before the lightning network even got started.
Then came the flotilla of "alts", none of which even made a dent in Bitcoin's marketcap despite being much more advanced technologically in many areas.
So then I realised that monetary roles and technological roles are very distinct priorities and in many ways in conflict and that was why Bitcoin had succeeded against expectations when all these alts arrived. Events since then have only confirmed this view. Even Ethereum, for all its technological vastness, hasn't done much relatively speaking.
Although I still believe we'll see a diversity of assets (I hold about 60% BTC, 40% alts) I think it's clear that Bitcoin is only consolidating its position, especially having fought off all that competition without even having had any of the large infrastructure developments that are now coming its way. That probably also goes for the few top alt coins that have shared much of the journey.
To me it's now a no brainer. The banks are bluffing with their "blockchain" nonsense. They've no use for a blockchain and haven't got the hashpower anyway. Once they start to discover that there'll come a tipping point (maybe already here) where eveyone switches from ignoring/attacking bitcoin to scrambling to be the first to support it with new banking business models along the lines of the Coinbase one.
As far as ultimate marketcap goes - think of a number. It's only going to get harder for anyone to compete as time goes on. The hashrate that the bitcoin network now has is phenomenal. It even needs its own unit of measurement it's so huge. (Go on
coinwarz and do a page find, Command-F, for "PH/S" and see how many hits you get
)
Most people in industry still don't get it. It's a sleeping elephant just as the world wide web was. Nobody really remembers the point at which email became indispensable or when they stopped using a high street travel agent to book a flight. It was like the tide coming in - a slow, subtle but unstoppable change. I suspect the coming revolution will be a bit more volatile though because the world financial system is just so flakey right now that there's bound to be a few avalanches here and there along the way.
Thanks for your insightful reply my friend
Some of China banks now refuses to wire money outside of the country, some banks already started to shut down and some is on the way of bankruptcy.
Sooner or later, Banks will embrace us, I recall that some banks already did, but when this moment come where the majority starts embracing, we will be reaching mars, not even moon.
Also, banks who wants to create their own coins, will miserably fall as their private SQL database
If don't mind, I want to stress on numbers, why I feel and foresee that we will see $1T in the coming 10 - 15 years, and the most of the market cap will be from Chinese gold and silver bugs, investors and such.
Lets think about it in another way as "Zimmah" did here.
What do you think ?
if it turns out as predicted, $50000 by march 2017 would be plausible.
That would require a mountain of real people to suddenly throw vast amounts of their hard earned money at something almost all of them still know zero about.
Theories and fractals and friends are all well and good but don't play along with the real world.
What da f thats to much prediction for you men, bitcoins price didnt really reach for that price as you mentioned and I see the biggest price reached by bitcoin in history is at 1k$ and follows by big crash hope it will not happen for this time, but for predicting bitcoin will reach to 50000 thats a lot of zero for predictinng and very imposible to happen and manny money tO invest so the price will go to that, but the nearly prediction price is @ 700-800$ mark by that it can be decent and true to come prediction and we can say safe zone for bitcoin to avoid big crash
it will happen.
huge rallies cause the price to overshoot and then a large correction happens, but it will always end up being higher in the end.
what you fail to understand is that bitcoin is LIMITED and therefore the only thing that
actually is
impossible is for the price to stay this low.
assuming bitcoin will be adopted by more users it means the price will have to go up. And not by just $50 either.
More like by 100x at least.
Even $700~$800 is way too low.
Next rally will go to ~$3000 at least, but more likely $5000
If there is one after that (most likely in 2017) expect to see 5 digits (40~50k)
it's inevitable.
Imagine 30 million people (and 30 million people is not a lot on over 7 billion people worthwide) all want to buy 1 bitcoin for $500. We won't have enough bitcoin. So they will have to bid higher and higher. The 'poorer' people will have to live with less than 1 bitcoin.
I can not stress this enough:
the average amount of bitcoin people will have is less than 0.003 bitcoinso therefore, 1 bitcoin has to be an INSANE amount of money. and $50k is just the start. f you think otherwise, basically you're saying bitcoin will never be used by more than ~10 million people. And that's an even more insane prediction than the ones i am making.
Just because you lack logic and mathematical skills doesn't make me delusional. I base my predication on math and logic, you base your predictions on what your 'feelings' tell you is 'right'
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