Years of Bitcoin, short version

[Joohansson]

Trying to get a grasp of history and making some predictions. Improvements are welcome! I always thought that price might stabilize over time but I'm not so sure any more.. Though I don't see any reasons yet for Bitcoin to stagnate.

2008: Concept phase
2009: Launch
2010: Experimenting
2011: Started to grow
2012: Acknowledged by the world, promotion
2013: Acceptance by small companies, turbulence, politics, super hype, venture investment boom
2014: Crash, hacking of exchanges, acceptance by large companies, venture investment boom v.2.0
2015: Price recovery, merchant acceptance boom, acceptance by some governments
2016: World wide acceptance, network expanding and huge rise in mining power, ATM boom, scaling war & Bitcoin politics
2017: Cryptocurrencies boom full spectrum, Japan accepting Bitcoin as legal way of money, other important acceptance, (scaling compromise and solution, potential forking turbulence)
2018: Serious cryptocurrencies development and altcoins finding their purpose, large network scaling, big fresh investors, price boom v.2.0
2019: Serious push for mainstream adoption in some countries, mixture of cryptocurrencies and interoperability
2020: Some Bitcoin and banking (FIAT) systems cooperation (banking long-term survival plan), serious world wide regulation and legalization attempt, Bitcoin banks (for legally lending Bitcoins for interest)

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[Yanisumin]

Trying to get a grasp of history and making some predictions. Improvements are welcome! I always thought that price might stabilize over time but I'm not so sure any more.. Though I don't see any reasons yet for Bitcoin to stagnate.

2008: Concept phase
2009: Launch
2010: Bug fixing
2011: Experimenting
2012: Acknowledged by the world, promotion
2013: Acceptance by small companies, turbulence, politics, super hype, venture investment boom
2014: Crash, hacking, acceptance by large companies, venture investment boom v.2.0
2015: Price recovery, merchant acceptance boom, acceptance by some governments
2016: World wide acceptance, network expanding, ATM boom, scaling war & Bitcoin politics
2017: Cryptocurrencies boom full spectrum, scaling compromise and solution, forking turbulence
2018: Serious cryptocurrencies development and altcoins finding their purpose, large network scaling, big fresh investors, price boom v.2.0
2019: Serious push for mainstream adoption in some countries, mixture of cryptocurrencies and interoperability
2020: Some Bitcoin and banking (FIAT) systems cooperation (banking long-term survival plan), serious world wide regulation and legalization attempt, Bitcoin banks (for legally lending Bitcoins for interest)

Well, this is the face of bitcoins development. This will give some insights for those who don't know bitcoins years of development. But of course this is just a portion of what really happened in the development and there are some mysterious questions that is running in our minds like who is Satoshi ?
2017 is what they are calling the age of ICO and it's development, there are still a lot of things ahead but like what we heard and see ( legalization and regulations of cryptocurrencies in some countries ) we can say that this is the era where the traditional currency will be turned to digital.

[Kakmakr]

2018 - First official BankCoin are launched
2019 - Governments start to regulate Open/Public Blockchains and favor PRIVATE centralized BankCoins.
2020 - Open/Public Blockchains are banned in most countries.
2021 - Open/Public Blockchains goes underground and flourish on black markets.
2022 - Ban on Open/Public Blockchains are lifted, because governments are losing tax income and votes.
2023 - Bitcoin becomes the global reserve currency.  

This is how I see it playing out in the near future, because governments think they can do what they want and will only realize what they have done, once they start losing votes.

[davis196]

Don`t try to predict the future in 2018 and 2019,we don`t know how the governments and central banks will react to a mass bitcoin adoption.Perhaps,like Kakmakr wrote, some big countries would create their own cryptocurrencies instead of adopting bitcoin.When it comes to bitcoin and crypto growth ,i would say
"So far,so good."
Let`s hope for more fresh investors coming...

[Wind_FURY]

OP, it's more interesting to see how Bitcoin and the dark markets will develop and grow together. That is where we could see Bitcoin's real potential as a censorship resistant and decentralized form of value transfer. The "Bitcoin for the mainstream" is a lost cause in my opinion.

[SimmonenY]

Don`t try to predict the future in 2018 and 2019,we don`t know how the governments and central banks will react to a mass bitcoin adoption.Perhaps,like Kakmakr wrote, some big countries would create their own cryptocurrencies instead of adopting bitcoin.When it comes to bitcoin and crypto growth ,i would say
"So far,so good."
Let`s hope for more fresh investors coming...

Yes, that and also there might be a crisis somewhere in the world or a war or some country will legalize bitcoin or prohibit. There are too many unpredictable factors that may influence the future of bitcoin so it is too risky to be so sure

[timerland]

Trying to get a grasp of history and making some predictions. Improvements are welcome! I always thought that price might stabilize over time but I'm not so sure any more.. Though I don't see any reasons yet for Bitcoin to stagnate.

2008: Concept phase
2009: Launch
2010: Bug fixing
2011: Experimenting
2012: Acknowledged by the world, promotion
2013: Acceptance by small companies, turbulence, politics, super hype, venture investment boom
2014: Crash, hacking, acceptance by large companies, venture investment boom v.2.0
2015: Price recovery, merchant acceptance boom, acceptance by some governments
2016: World wide acceptance, network expanding, ATM boom, scaling war & Bitcoin politics
2017: Cryptocurrencies boom full spectrum, scaling compromise and solution, forking turbulence
2018: Serious cryptocurrencies development and altcoins finding their purpose, large network scaling, big fresh investors, price boom v.2.0
2019: Serious push for mainstream adoption in some countries, mixture of cryptocurrencies and interoperability
2020: Some Bitcoin and banking (FIAT) systems cooperation (banking long-term survival plan), serious world wide regulation and legalization attempt, Bitcoin banks (for legally lending Bitcoins for interest)

I think that this is quite a good prediciton, all the way up to 2019.

2020 is something that i don't think will happen, and shouldn't happen anyways. First of all, bitcoin cannot just cooperate with banks. There is no single person that is going to negotiate with the banking system. Second of all, why would the banking system want to use bitcoin, when it is direct competition, and why would bitcoin succumb to the banking system when everything that bitcoin is for is basically against central banking? Does not make sense to me.

2018 - First official BankCoin are launched
2019 - Governments start to regulate Open/Public Blockchains and favor PRIVATE centralized BankCoins.
2020 - Open/Public Blockchains are banned in most countries.
2021 - Open/Public Blockchains goes underground and flourish on black markets.
2022 - Ban on Open/Public Blockchains are lifted, because governments are losing tax income and votes.
2023 - Bitcoin becomes the global reserve currency. 

This is how I see it playing out in the near future, because governments think they can do what they want and will only realize what they have done, once they start losing votes.

Extremely likely that this will happen. China, russia are all trying to get their cryptocurrency up and running, even though they are centralized. I really don't think that it'ts going to be extremely popular, it's probbaly just going to promote bitcoin even more whilst generating little volume for itself tbh.

[BTCLovingDude]

[2010] bug fixing happened in the early years of release. the 2010 only had 1 major issue which was caught and fixed. so i wouldn't call 2010 as the bug fixing year.
[2011] the growth started at least in 2011 and everyone started talking about it slowly then it became much bigger in 2012
[2014] better add the term "hack of exchanges" to avoid confusion. there has never been hack of bitcoin itself.
[2016] + mining power huge rise
[2017] + first big country to accept bitcoin officially as a legal way of payment (Japan), and then other countries to follow in its footsteps. + addition of bitcoin to largest Forex broken in the world.

the rest looks good to me. also you can take a look at this link, it has very good information in it: https://en.wikipedia.org/wiki/History_of_bitcoin

also a cool website with lots of cool information: http://historyofbitcoin.org/

[dinofelis]

OP, it's more interesting to see how Bitcoin and the dark markets will develop and grow together. That is where we could see Bitcoin's real potential as a censorship resistant and decentralized form of value transfer. The "Bitcoin for the mainstream" is a lost cause in my opinion.

I fully agree with that point of view.  However, I think reality will be entirely different.
First of all, crypto will NOT be outlawed, on the contrary.  Crypto will be seen as a new speculative financial vehicle, and the finance industry will want to play with it.  For that, it will need to be "regulated".  Nobody will intervene in the technical aspects of crypto, but you will have to report all your crypto holdings and movements.  Those that you don't report, will not be usable on legal platforms (exchanges, stores,.... who will have to do their own reporting, which should match yours and which would betray you if ever you used non-declared coins).  This would make crypto entirely legal and taxable assets, losing entirely their purpose as "freedom currency", and making them available to financial institutions.
These will gamble on it like they like to do, and will blow the crypto bubble to unseen heights.  Note that the extra volatility induced by professional gamblers (financial institutions) will make crypto totally unsuited to be used as "money", but it will be made perfect speculation vehicles.  Financial institutions will in the end burst the bubble, and we will have a new financial crisis 1929/2007 like, caused by the speculative nature of crypto when its bubble blows all over us.
The next generation will be wary of any kind of crypto.
At no point, crypto will be useful "freedom currency" because of a stupid design error of bitcoin: the finite number of coins, that makes it unsuited as a currency, but makes it very highly speculative ; something that has been taken over by most crypto.

[X1easter]

Excluding those with the future (since these didn't happen yet and considering the current vision of altcoin development, the only one which look that promising is ETH nothing more), also bitcoin did not get forked yet, so no meaning in saying things as recording for things that might or might not happen.

[btccashacc]

Nice thread, i remember the time when i discovered bitcoin for the first time in 2013, and 2014 when mtgox got hacked and the price crashed, wow time flies so fast and so many things happened.

Don`t try to predict the future in 2018 and 2019,we don`t know how the governments and central banks will react to a mass bitcoin adoption.Perhaps,like Kakmakr wrote, some big countries would create their own cryptocurrencies instead of adopting bitcoin.When it comes to bitcoin and crypto growth ,i would say
"So far,so good."
Let`s hope for more fresh investors coming...

This is what i was thinking, the government will not accept bitcoin or any cryptocurrency to be their official currency instead of adopting them they would create their own crypto or digitize their fiat and adopt the blockchain technology as we can see some countries are trying to develop and learning this technology. Well all i can say future is unpredictable.

[bitbunnny]

Interesting perspective and I would say very probably development for the future, except that is not very likely that Bitcoin will be accepted as mainstream currency, particulary not as the only one. Governments and financial institutions are still very stiff for step like this. But no one can't say for sure what future brings so I'm looking forward.

[M.Terzi]

Target 2023

[charlescoin]

2018 - First official BankCoin are launched
2019 - Governments start to regulate Open/Public Blockchains and favor PRIVATE centralized BankCoins.
2020 - Open/Public Blockchains are banned in most countries.
2021 - Open/Public Blockchains goes underground and flourish on black markets.
2022 - Ban on Open/Public Blockchains are lifted, because governments are losing tax income and votes.
2023 - Bitcoin becomes the global reserve currency.  

This is how I see it playing out in the near future, because governments think they can do what they want and will only realize what they have done, once they start losing votes.

Governments have already overwhelmingly been supportive of bitcoin despite disliking some of the illegal aspects of it. As for global reserve currency in 2023, that would be amazing but I think unlikely for it to grow so much so fast.

[ranreichman]

Already a cliche but "The best way to predict the future is to invent it." (Alan Kay)

[Joohansson]

Interesting perspective and I would say very probably development for the future, except that is not very likely that Bitcoin will be accepted as mainstream currency, particulary not as the only one. Governments and financial institutions are still very stiff for step like this. But no one can't say for sure what future brings so I'm looking forward.

Just to be clear, I specifically wrote "In some countries" for mainstream and also for the banking part. Some stuff will probably never happen world wide because other systems already work fine. In Sweden for example we have "Swish" which is a peer-to-peer mobile payment service (agreed between all big banks) for sending money to both individuals and companies via phone number. There is only few seconds of delay and no charge what so ever, only a small fee if you're receiving as a company ($0.2 per transaction). Really useful for small merchants selling strawberries or whatever who can't afford supporting credit cards. There is really no use of Bitcoin here yet for regular purchases and transfers.

[Joohansson]

[2010] bug fixing happened in the early years of release. the 2010 only had 1 major issue which was caught and fixed. so i wouldn't call 2010 as the bug fixing year.
[2011] the growth started at least in 2011 and everyone started talking about it slowly then it became much bigger in 2012
[2014] better add the term "hack of exchanges" to avoid confusion. there has never been hack of bitcoin itself.
[2016] + mining power huge rise
[2017] + first big country to accept bitcoin officially as a legal way of payment (Japan), and then other countries to follow in its footsteps. + addition of bitcoin to largest Forex broken in the world.

the rest looks good to me. also you can take a look at this link, it has very good information in it: https://en.wikipedia.org/wiki/History_of_bitcoin

also a cool website with lots of cool information: http://historyofbitcoin.org/

Thanks, made some corrections.

[pearlmen]

2018 - First official BankCoin are launched
2019 - Governments start to regulate Open/Public Blockchains and favor PRIVATE centralized BankCoins.
2020 - Open/Public Blockchains are banned in most countries.
2021 - Open/Public Blockchains goes underground and flourish on black markets.
2022 - Ban on Open/Public Blockchains are lifted, because governments are losing tax income and votes.
2023 - Bitcoin becomes the global reserve currency.  

This is how I see it playing out in the near future, because governments think they can do what they want and will only realize what they have done, once they start losing votes.

Its not a small mile that bitcoin has been able to cover in the short years it has been with us and at the same time the future is more than bright for it. But at a point growth will be mild and thats what I see bitcoin going to achieve going forward in which I see gradual penetration. But 2023 which is 6 years from now is what I am seeing not feasible for bitcoin to become a global currency. Countries will adopt but 6 years from now wont make the whole countries in the world ready.

[Zadicar]

2018 - First official BankCoin are launched
2019 - Governments start to regulate Open/Public Blockchains and favor PRIVATE centralized BankCoins.
2020 - Open/Public Blockchains are banned in most countries.
2021 - Open/Public Blockchains goes underground and flourish on black markets.
2022 - Ban on Open/Public Blockchains are lifted, because governments are losing tax income and votes.
2023 - Bitcoin becomes the global reserve currency.  

This is how I see it playing out in the near future, because governments think they can do what they want and will only realize what they have done, once they start losing votes.

Its not a small mile that bitcoin has been able to cover in the short years it has been with us and at the same time the future is more than bright for it. But at a point growth will be mild and thats what I see bitcoin going to achieve going forward in which I see gradual penetration. But 2023 which is 6 years from now is what I am seeing not feasible for bitcoin to become a global currency. Countries will adopt but 6 years from now wont make the whole countries in the world ready.

Global currency? It cant be sure no matter how high my hopes for bitcoins development i feel hopeless for this word which it can be considered as global currency inspite i would believe that it would really remain as digital currency but on much better adoption.I cant think on the possibilities on becoming global currency and i can say its much better to be on this way.

[Kprawn]

2018 - First official BankCoin are launched
2019 - Governments start to regulate Open/Public Blockchains and favor PRIVATE centralized BankCoins.
2020 - Open/Public Blockchains are banned in most countries.
2021 - Open/Public Blockchains goes underground and flourish on black markets.
2022 - Ban on Open/Public Blockchains are lifted, because governments are losing tax income and votes.
2023 - Bitcoin becomes the global reserve currency.  

This is how I see it playing out in the near future, because governments think they can do what they want and will only realize what they have done, once they start losing votes.

Its not a small mile that bitcoin has been able to cover in the short years it has been with us and at the same time the future is more than bright for it. But at a point growth will be mild and thats what I see bitcoin going to achieve going forward in which I see gradual penetration. But 2023 which is 6 years from now is what I am seeing not feasible for bitcoin to become a global currency. Countries will adopt but 6 years from now wont make the whole countries in the world ready.

Global currency? It cant be sure no matter how high my hopes for bitcoins development i feel hopeless for this word which it can be considered as global currency inspite i would believe that it would really remain as digital currency but on much better adoption.I cant think on the possibilities on becoming global currency and i can say its much better to be on this way.

Bitcoin will never become a global reserve currency, because for that to happen ALL countries have to accept it as their reserve currency... and

this will never happen. I can see a situation where Bitcoin becomes the coin that link all Alt coins together. You trade in Alt coins and take the

profits in Bitcoin or local Fiat currencies.