James Altucher’s 10 predictions about the future of cryptocurrencies

[Robert543]

What may confront the cryptocurrency market in the future? Will it be accepted as a major payment method? Here are some predictions of James Altucher, a CNBC analyst :
1. At least one country's currency is likely to fail soon — likely Argentina or Venezuela. This will lead to mass adoption of bitcoin among that populace. That will in turn lead to bitcoin rising by more than $50,000 when it happens.
2. Mainstream banks will accept bitcoin, and will start offering storage and software access. They will also create cryptocurrency derivatives — as the CME is about to start doing.
3. Despite the optimism, there will be a massive wipeout, and 95 percent of the alt-coins out there will go away — just like the dot-com bust. The surviving coins will go up a ton. This will happen within next four-six months.
4. The U.S. government will secretly start accumulating one of the smaller cryptocurrencies to make it easier for gray-area transactions with other countries. This has already started happening but will really start to ramp up in 2018.
5. China will invest heavily in another cryptocurrency, but probably not bitcoin. China will want to have a cryptocurrency that is competitive with bitcoin, but under its centralized control. This will, in general, provide legitimacy to all cryptocurrencies.
6. One big problem with cryptocurrencies now is their volatility. At least one — basecoin — will likely dramatically reduce that in 2018.
7. More companies will pay freelancers with crypto, which will lead to calls for tax reform. There will need to be greater regressive sales taxes, which will ultimately require government cuts and eventually less power for national governments. This is a long-term prediction.
8. In the same way the internet changed the monopolistic phone industry, crypto will change the monopolization of government-backed money.
9. A new government organization will be created to analyze regulation on cryptocurrencies. This will, ironically, lead to a huge upswing in bitcoin and coins that provide actual utility.
10. Thousands of crypto companies will be created and go public, but only a few will be massive successes.

[siddartha1492]

I think these are more of obvious predictions. Although the bank prediction seems to be not happening, at least in the near future. Banks will try their best to keep cryptocurrecies away from the people. One such method is to suddenly stop supporting crypto exchanges in fiat transfers. This is already happening in many countries. Yesterday only, India's central bank RBI has directed all the Indian banks to cut of connections with crypto related businesses. If this really gets implemented, then India will be isolated from the crypto world. So right now, banks are the biggest threat to the cryptocurrencies, even more than the Govts.

[limmousine]

I think these are more of obvious predictions. Although the bank prediction seems to be not happening, at least in the near future. Banks will try their best to keep cryptocurrecies away from the people. One such method is to suddenly stop supporting crypto exchanges in fiat transfers. This is already happening in many countries. Yesterday only, India's central bank RBI has directed all the Indian banks to cut of connections with crypto related businesses. If this really gets implemented, then India will be isolated from the crypto world. So right now, banks are the biggest threat to the cryptocurrencies, even more than the Govts.

the bank is afraid its business will die if crypto becomes the payment option in the future. but they are wrong, because many advantages if they want to expand business into the world of crypto. banks have owned businesses for decades and their assets have spread across the country, if they combine their business with new technologies like blockchain, I'm sure they can have great products.

we must remember that no one can stop technological progress and I believe crypto is the answer in the future.

[Kryten12]

Those are some pretty interesting if not obvious predictions, so it at least seems like the guy has done a bit of research before compliling his list. Number 10 it seems is already started but it is natural that out of so many only a few will become successful. I think crypto in general will start to recover during the second quarter of this year.

[fortunecrypto]

I don't know how good Altucher's analysis but these are all good in cryptocurrency futures, right now we cannot stop the proliferation of Ico and new coins, whether it is an airdrop or an ICO coin because creating a coin is much easier now because of the many coin services in the market.

[leland orser]

I don't think these predictions make any sense.
It's also the future of bitcoin, and I'm optimistic about the future of bitcoin, that's all.

[bundo]

Any one can predict the development of crypto and if these things can happen of course this becomes the key, where the blockchain system is acceptable in all countries. For that needed a fundamental approach to society so that everyone knows about cryptocurrency

[hammerhart]

well lets jzust hope prices goes down a bit further then before it rises XD

[qiwoman2]

One of those facts has come true for sure. MY altcoin portfolio went down by exactly 95% so far, which means one prediction is spot on. I think the banks will use blockchain protocols but will have the funds and money to create their own blockchain systems that benefit them and not us. I think the analysis is accurate on many points and we are also seeing new tax legislation coming in various countries and Venezuela already made it's own digital currency THE PETRO, which is being used to buy oil from Russia, so some whales are going to make a killing out of the PETRO it seems.

[unusualfacts30]

What may confront the cryptocurrency market in the future? Will it be accepted as a major payment method? Here are some predictions of James Altucher, a CNBC analyst :
1. At least one country's currency is likely to fail soon — likely Argentina or Venezuela. This will lead to mass adoption of bitcoin among that populace. That will in turn lead to bitcoin rising by more than $50,000 when it happens.
2. Mainstream banks will accept bitcoin, and will start offering storage and software access. They will also create cryptocurrency derivatives — as the CME is about to start doing.
3. Despite the optimism, there will be a massive wipeout, and 95 percent of the alt-coins out there will go away — just like the dot-com bust. The surviving coins will go up a ton. This will happen within next four-six months.
4. The U.S. government will secretly start accumulating one of the smaller cryptocurrencies to make it easier for gray-area transactions with other countries. This has already started happening but will really start to ramp up in 2018.
5. China will invest heavily in another cryptocurrency, but probably not bitcoin. China will want to have a cryptocurrency that is competitive with bitcoin, but under its centralized control. This will, in general, provide legitimacy to all cryptocurrencies.
6. One big problem with cryptocurrencies now is their volatility. At least one — basecoin — will likely dramatically reduce that in 2018.
7. More companies will pay freelancers with crypto, which will lead to calls for tax reform. There will need to be greater regressive sales taxes, which will ultimately require government cuts and eventually less power for national governments. This is a long-term prediction.
8. In the same way the internet changed the monopolistic phone industry, crypto will change the monopolization of government-backed money.
9. A new government organization will be created to analyze regulation on cryptocurrencies. This will, ironically, lead to a huge upswing in bitcoin and coins that provide actual utility.
10. Thousands of crypto companies will be created and go public, but only a few will be massive successes.

not a big fan of Altucher but those predictions are pretty positive and I do agree with some of them as they are already happening. Bankers will try to come up with their own crypto to beat bitcoin but that will fail.

[boroda074]

This is a very good future for the crypto currency and for all of us, we hope that this will happen, because if bitcoin costs 50 thousand dollars, our altcoins will fly to the skies!

[DarkBullet]

By the end of the day, those are all just predictions and may happen someday since we are seeing a lot of well known company adopting blockchain nowadays. Banks are also using blockchain for faster transaction so there really is a possibility that #2 prediction may happen but will also be a long term prediction. We all know that banks are trying to destroy cyptocurrency which will never happen. Just like what we a business minded person said, "if you can destroy them, join them"

[iryboy]

I must say not bad predictions.

5. China will invest heavily in another cryptocurrency, but probably not bitcoin. China will want to have a cryptocurrency that is competitive with bitcoin, but under its centralized control. This will, in general, provide legitimacy to all cryptocurrencies.

Not only China but all other countries too want a centralized controlled cryptocurrency to get more from the crypto world.

[RileyRiley94]

The future of digital money is still ahead. But the rise of the coin is now a lot, how to get to know the quality altcoin.

[illnino]

I don't know how good Altucher's analysis but these are all good in cryptocurrency futures, right now we cannot stop the proliferation of Ico and new coins, whether it is an airdrop or an ICO coin because creating a coin is much easier now because of the many coin services in the market.

For me, it was a very good post and good predictions as well. I believe that many cryptocurrency companies will be created, and some of them will be successful.I also think that the USA is going to deal with their own crypto soon.