Ultimate ATH of Bitcoin in 5 years??

[Murloc]

- The enormous consumption of energy necessary for mining.

Seriously. Anyone have a serious lack of electricity? Just don't listen to the FUD from greens about it. People will always have enought energy.

- What will happen when it is no longer profitable to mine Bitcoin?

Miners will stop mining it. Thats how the free market works. But I'm sure that either the bitcoin will be somehow improved till that time or the technoligies will step forward and we will get some kind of super miner.

- Bitcoin will end up being a means to store value, or will it be used as currency for micro payments?

I'm parying that with lightning network microtransactions will become cheap. It doesn't solve the problem of volatility but it will still help a lot.

[nidacoinlove]

Till the time miners gain profit from bitcoin nothing is going to damage it, with the rise in the price of bitcoin the transaction fee is also increasing which is collected by miners. I think that miners earn quite handsome amount of bitcoin which keeps them attracted towards it. I remember there used to be a few cents mining fee now we pay the fee in dollars, for a minimum transaction the fee is charged above $15. If we look at the expenses incur on mining is still not as huge as the mining fee.
These high fees have made bitcoin to be preferred only for macro payments, if the fees grows higher like this no one will like to use bitcoin as a currency for small payments.

[Febo]

I wonder what will happen with the price of Bitcoin in 2, 3, 5 years ...
taking into account the following aspects:

- The enormous consumption of energy necessary for mining.

- What will happen when it is no longer profitable to mine Bitcoin?

- Bitcoin will end up being a means to store value, or will it be used as currency for micro payments?

Finally, do you think that the price has a ceiling? what would be? 1 million usd?
What would happen according to you when that ceiling was reached? Would it collapse to less than half, or would it remain more or less stable?

Thank you...

 

It will be used as much energy as needed. Energy wise currently biggest hurdle is to store energy and here Bitcoin sort of solve this problem. You mine when you have to much energy and spend bitcoins to buy energy when you are lacking of energy.  

Bitcoin will be always profitable to mine. Since  when tat moment happen few miners stop mine, so the rest gets more.   Biggest problem is can Bitcoin depend solely on fees after all coins will get mined in 2149. Quite low emission will actually happen way earlier.  Most likely Bitcoin will need need a solution here, maybe something like Monero have.

What will end up to be no one can know. For sure it will not be fungible, but fully transparent. I would for sure avoid using it when I go to vacations to some far away country. Every bartender or store owner would know exactly how much money I have.

[vanish9]

Ultimate all time high in five years from now? No one knows, but if the price follows the parabolic the price could be easily over $100k in more than two years, this is just what i think and what i saw on the internet, no one knows if this is really going to happen of course

[richardsNY]

These high fees have made bitcoin to be preferred only for macro payments, if the fees grows higher like this no one will like to use bitcoin as a currency for small payments.

That's why it's so important to get lightning network up and running. Micro transactions are a big deal basically everywhere in the world, and it's basically the main selling feature for a lot newer people. It's something that will help Bitcoin going mainstream in the coming years, which is what we all are eagerly waiting for. The longer it takes to get lightning network up and running, the more we'll see transactions pile up. At some point I wouldn't be surprised to see 500k of unconfirmed transactions waiting in mempools, and if it reaches that number, it will very likely grow even further. Imagine how long it will take for the network to deal with that many transactions even if the usage decreases....

[joinfree]

Ultimate all time high in five years from now? No one knows, but if the price follows the parabolic the price could be easily over $100k in more than two years

The parabolic is clearly a theory, nothing more than that, and you are saying that it will be more than $100k in just a few months or years but that is wrong.

It says that the price was $1000 just a year ago, and a year after it was $10k.

So it means that each year it wil make a x10

it means that during the next year the price needs to be over $100k to meet that theory.. Not $100k in five years

[TERA2]

It could take 5 years just for the next crypto winter to recover and there might not even be another ATH by then. So the question about the "ultimate ATH" might need to extend beyond 5 years.