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USBitcoinServices.Com (OP)
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May 07, 2017, 08:24:15 PM |
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Japan started making btc legal now, India is following, maybe China is Next? then within 5 years from now maybe the crypto world can be well known?
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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dothebeats
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May 07, 2017, 08:41:10 PM |
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Acknowledged by governments? Maybe in the next 5 years, but being used as a currency side-by-side with fiat? I don't think so. People still refuse to see how bitcoin could potentially serve them and still stick with their conventional fiat money. It will be a long and tiring way out there and the next 5 years would just be the governments acknowledging bitcoins, but mass adoption would still be far off from the books in my opinion.
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harizen
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May 07, 2017, 08:44:57 PM |
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Japan started making btc legal now, India is following, maybe China is Next? then within 5 years from now maybe the crypto world can be well known?
It will depend on how it will be prioritized by the specific government. For bitcoin to become truly regulated in a certain country, it will take years in process because of brainstorming and lots of related financial issues. If just about popularity and for bitcoin to become truly popular and known, 5 years is too much. Bitcoin can gained popularity without waiting for a long duration even few countries will make it legal just as it did as years were passing by. |
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ImHash
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May 07, 2017, 08:50:26 PM |
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Whenever hash power increases and reaches to the rate of bitcoin hash power, even bitcoin now needs at least double the current hash power to be more accepted worldwide.
Believe me no one will ever look at a coin with a few mega hash per second because then manipulating and causing changes would be too much easy.
But if many people have millions and billions at stake then you'll see how everyone comes and start using crypto.
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LeGaulois
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May 07, 2017, 09:00:29 PM |
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Bitcoin has never been "illegal" in Japan, and they accept it now as a comodity, not a currency.... The mass adoption of bitcoin is not going to happen as long every month we see a new altcoin that basically keep adding to the speculative investment about altcoins..
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Pearls Before Swine
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May 07, 2017, 09:01:53 PM |
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All you have to do is look at what the markets in crypto are doing, and you have your answer. We are in a huge bull market, and where do you think that money is coming from? Bitcoin, and selected other cryptos, are currently being 'adopted'. Maybe they're not being used to buy everyday items, but people are at least starting to own the stuff. And there's still enormous room for growth, too, because 99% of the world population still likely doesn't own any crypto. Think about that!
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avikz
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May 07, 2017, 09:04:41 PM |
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Japan started making btc legal now, India is following, maybe China is Next? then within 5 years from now maybe the crypto world can be well known?
I am doubtful! 5 years is too less of a time for a technology like crypto currency to be adopted by masses. People are still not clear about the idea of crypto currency because they don't understand that how money can be generated from computer. Japan has a literacy rate of 100% and they are one of the most technologically advanced nations. So Japan adopting bitcoin as a legal currency did not surprise me. But India and China will not be able to do it withing next 5 years. Especially the current government of India is busy playing political games in the name of religion. They are least bothered about bitcoin and I am happy about it. If the government starts taking interest in bitcoin, the users will be put behind bars and money laundering cases will be filed against them. |
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audaciousbeing
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May 07, 2017, 09:50:26 PM |
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Japan started making btc legal now, India is following, maybe China is Next? then within 5 years from now maybe the crypto world can be well known?
Japan's adoption is not a determinant of anything because Japan is not active on world politics which have influence on the financial system of other countries. But I see the impact of China having effect on other countries if they adopt from that end. However, what will be the most lush factor is if a country like UK, USA or Russia adopt bitcoin, then I see the massive inflow happening in the next five years but currently nothing is certain. |
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Clement Kaliyar
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May 07, 2017, 10:41:55 PM |
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I am doubtful! 5 years is too less of a time for a technology like crypto currency to be adopted by masses. People are still not clear about the idea of crypto currency because they don't understand that how money can be generated from computer.
Japan has a literacy rate of 100% and they are one of the most technologically advanced nations. So Japan adopting bitcoin as a legal currency did not surprise me. But India and China will not be able to do it withing next 5 years. Especially the current government of India is busy playing political games in the name of religion. They are least bothered about bitcoin and I am happy about it. If the government starts taking interest in bitcoin, the users will be put behind bars and money laundering cases will be filed against them.
I do stand by your opinion that India being a developing nation it is hard to comprehend the news coming out as they are always having issue internally and for a new technology like crypto currency to be adopted by the masses will take its time,if the two major populated countries China and India legalizes bitcoin then the amount of investment will be really huge and it will break conventional rallies we have seen earlier in bitcoin if that happens. |
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shinratensei_
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May 07, 2017, 11:03:50 PM |
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Japan started making btc legal now, India is following, maybe China is Next? then within 5 years from now maybe the crypto world can be well known?
I could think if US will become another one. Judging from the latest news, Newyork financial institution already gives a permission to coinbase for being the first exchange who was selling it for newyork people. In my mind, if it can be considered as a good signal for us. No one can be determined about the exact date when the crypto will be known to everyone. |
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Question123
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May 07, 2017, 11:07:00 PM |
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My country philippines accept bitcoin as payment and thats the government released that news. I dont know if bitcoin is illegal or legal. But in my country bitcoin is legal. And I hope many country will adapt bitcoin . And I think 5 years is not enough year so the people understand crypto currency I think 10 years many people understand that. If many people know this and thats good everyone will benefits .
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ArdiPrabowo
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May 07, 2017, 11:15:04 PM |
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Japan started making btc legal now, India is following, maybe China is Next? then within 5 years from now maybe the crypto world can be well known?
2018 rusia follow japan, regulated bitcoin china exchanger still problem with PBOC, i think if china slowly to regulated bitcoin bitcoin can the big curency, if SEC USA regulated bitcoin |
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machinek20
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May 07, 2017, 11:45:45 PM |
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In 5 years there will be a lot of people knowing crypto currencies maybe almost all of them will recognized crypto, but to be adopted I think its hard to predict, because not all of the country agree with the crypto currencies idea, but there will be a lot if people doing transaction using crypto in the next 5 years
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btcdevil
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May 07, 2017, 11:48:37 PM |
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Japan started making btc legal now, India is following, maybe China is Next? then within 5 years from now maybe the crypto world can be well known?
Ya but in my knowledge only 50% will be knowing about bitcoin until their is no massive online stores accepting bitcoin as payment option because right now the online market is the main market for all product sales. |
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Sled
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May 08, 2017, 02:58:20 AM |
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I think cryptocurrencies will be generally used and massively adopted after the year of 2020 because we all know that the next halving event for bitcoin will be on 2020 and that will be a very big news for bitcoin and most of the people around the world will get interested in bitcoin and if they will know about the 2020 which is halving year then they will adopt bitcoin and take advantage of the possible price pumps.
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Schuyler
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May 08, 2017, 03:15:25 AM |
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I think cryptocurrencies will be generally used and massively adopted after the year of 2020 because we all know that the next halving event for bitcoin will be on 2020 and that will be a very big news for bitcoin and most of the people around the world will get interested in bitcoin and if they will know about the 2020 which is halving year then they will adopt bitcoin and take advantage of the possible price pumps.
Four years is such a short time for mass adoption to take place. I would even say that in 2030, bitcoin would still be sound greek to a lot of people. Infrastructure would play a big part on such development and if people who have been living their whole lives without bank accounts and stock investments survived that way, I don't really expect them to be well versed even with cryptocurrency in all those years. I am not being pessimistic with my outlook by just being realistic and lowering my expectations. |
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flower1024
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May 08, 2017, 03:19:01 AM |
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Japan started making btc legal now, India is following, maybe China is Next? then within 5 years from now maybe the crypto world can be well known?
Are you sure India is following it? Because what I know is recently one of the parliament members has requested to bad bitcoins in India. After that I didn't follow up that news, what is the status now? Also, in India, many people are not knowing about bitcoins and these crypto-currencies. The government is struggling to trace all black money and if they can't trace the source of the funds then mostly they will not approve bitcoins to use in India. This is just my opinion... |
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Peter789
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May 08, 2017, 03:31:24 AM |
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Sled...what is a halving year?
I googled it withno real results.
Thanks
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nachius
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May 08, 2017, 03:41:49 AM |
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Sled...what is a halving year?
I googled it withno real results.
Thanks
Every 4 years, the amount of Bitcoin that is received in each block gets halved. The amount started as 50 BTC, it then moved to 25 BTC, and now it is 12.5 BTC. Whichever pool or user mines the block first, they receive a reward of 12.5 BTC. In about 3 more years, the 12.5 Bitcoin reward will be halved again. From there on, each block reward will only contain 6.25 BTC. It is a continuous pattern until all 21 Million Bitcoins are distributed. |
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danherbias07
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May 08, 2017, 03:47:43 AM |
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Acknowledged by governments? Maybe in the next 5 years, but being used as a currency side-by-side with fiat? I don't think so. People still refuse to see how bitcoin could potentially serve them and still stick with their conventional fiat money. It will be a long and tiring way out there and the next 5 years would just be the governments acknowledging bitcoins, but mass adoption would still be far off from the books in my opinion.
Agree with this. We still live on a paper world and people want something to hold on to for them to believe its real. 5 years is still a maybe to make it worldwide. Problem is technology. Not all countries can manufacture some machines that are high ends. They will need funds to buy it in other countries and that will take a lot of money and risk. They will also need the people to agree for they will use the tax that is being paid. At the end of the day it is every government which will decide and whom can make good changss first. Japan doesnt have a problem with it so they didnt have a hard time deciding. |
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