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chen2000
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February 19, 2014, 05:52:52 AM
 #1

hello all,
I have been reading this forum for a while and I am grateful to all that have selflessly helped others in all matter of things which has also meant I was able to pick up some fantastic info and make some good decisions. Whether it all comes to fruition is another matter buy just to be able to be a part of this incredible revolution is quiet something. one of thoes stories you will tell your grand children when they are complaining they don't get enought bitcoin pocket money...

I was just wondering what are your views as to the future, and I mean decades from now, not just speculating a few weeks, month or eaven years. But the long term. Do you truly beleive the governments round the world would let bitcoin prosper and become mainstream? do you see yourself as an outsider or a radical?

I firmly beleive there could be a future...
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February 19, 2014, 06:02:12 AM
 #2

decades from now could be the age of crypto. whatever may that be, it could be bitcoin or something else. but definitely all this would not be happening without bitcoin.

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February 20, 2014, 03:34:30 AM
 #3

I firmly believe that in 10-15 years we will look  back at bitcoin as we know it today as it if were the stone age.   Things in the crypto world develop so quickly it is unbelievable.  A week in the life of bitcoin is like a year in the life of almost every other company, stock, investment vehicle, etc. 

Pick any random stock or something like that...and then check out the news about it over the past year.   All of that and more probably happened with the bitcoin ecosystem in any given week over the past few years. 
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February 20, 2014, 04:34:34 AM
 #4

20 years is too far ahead to even imagine where something like Bitcoin will end up.

I see 3 possible outcomes.

- Bitcoin survives
- Bitcoin is flawed and collapses to 0
- A new crypto comes out that is revolutionary enough to displace the Bitcoin mining network in it's favor

Assuming Bitcoin survives: (Highly likely)

I can't imagine Bitcoin ever being used as a primary day-to-day currency. I can imagine Bitcoin being used as a platform for every other currency to back itself against, think about USD being a Bitcoin Alt-coin, pegged in value against Bitcoin like Litecoin is now...

Bitcoin already has an amazing network, it's amazing how such a beautiful thing could be created so quickly; this wasn't chance, mind you. The growth of the network is a direct measure of the desirability of Bitcoin. The existing world-wide network will give Bitcoin an advantage over any new currency to be created in the future, cementing Bitcoin in place until something more revolutionary comes along stealing the miners away...

The world will evolve; but this doesn't always happen quickly. The faster the world attempts a change, the more resistance it encounters... Bitcoin will experience plenty of resistance along the way but I think after the next major international gold scandal things will change. For the first time ever, the world is looking at a zero trust distributed public ledger to which tangible property can be pegged against. Imagine what would happen if gold ownership were pegged against the Bitcoin protocol; the impact of that alone would be huge.

I can see so many new innovations coming out. Once these new innovations come to fruition, things will evolve too rapidly to keep up with.

Bitcoin is so insanely valuable that when enough of the world picks it up and adopts it, big business will be pulling on it like a vacuum and then national governments will start to play too.

I just think it's going to be an interesting ride and having the nerves to hold 1 or 2 Bitcoin when the price exceeds the exchange equivalent of $1 million today will turn you into a superstar when it hits $1 Billion per coin after governments begin to store ownership rights of national assets within the blockchain.

The GDP will be valued in Bitcoin as the nations of the world will all use their own alternate currencies backed by Bitcoin.

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February 20, 2014, 05:25:30 AM
 #5

I just think it's going to be an interesting ride and having the nerves to hold 1 or 2 Bitcoin when the price exceeds the exchange equivalent of $1 million today will turn you into a superstar when it hits $1 Billion per coin after governments begin to store ownership rights of national assets within the blockchain.


So the market cap of BitCoin will be 21 million billion...?

21,000,000,000,000,000?
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February 20, 2014, 05:52:14 AM
 #6

I just think it's going to be an interesting ride and having the nerves to hold 1 or 2 Bitcoin when the price exceeds the exchange equivalent of $1 million today will turn you into a superstar when it hits $1 Billion per coin after governments begin to store ownership rights of national assets within the blockchain.


So the market cap of BitCoin will be 21 million billion...?

21,000,000,000,000,000?
That's a quadrillion, but a market cap of 21 quadrillion what? Will the dollar still be viable?


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February 20, 2014, 05:57:44 AM
 #7

What makes Bitcoin unique is that there's a record as to who possesses it, and there's a network that records transactions. Additionally, there is no way to increase the number of Bitcoins in existence, which is not the case in other currencies, like the U.S. currency, which the treasury can just print more if needed.

The value of a Bitcoin does fluctuate with the markets. So if you're thinking of investing in Bitcoins, you want to do the same thing you do with a stock, which is to buy low and sell high. But remember, all currencies fluctuate in value on a daily basis, so that's not unique to Bitcoin.

A key breakthrough with the use of Bitcoin will be if and when traditional banks decide to accept it.

Think of survival of Bitcoin.
I can see future of Bitcoin with my Closed and Open both eyes.

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February 20, 2014, 06:02:23 AM
 #8

What makes Bitcoin unique is that there's a record as to who possesses it, and there's a network that records transactions. Additionally, there is no way to increase the number of Bitcoins in existence, which is not the case in other currencies, like the U.S. currency, which the treasury can just print more if needed.

The value of a Bitcoin does fluctuate with the markets. So if you're thinking of investing in Bitcoins, you want to do the same thing you do with a stock, which is to buy low and sell high. But remember, all currencies fluctuate in value on a daily basis, so that's not unique to Bitcoin.

A key breakthrough with the use of Bitcoin will be if and when traditional banks decide to accept it.

Think of survival of Bitcoin.
I can see future of Bitcoin with my Closed and Open both eyes.
Well there was this: http://www.coindesk.com/africas-largest-bank-trials-bitcoin-integration-system/
After the update, they said that it won't be available to customers. Sadly.


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February 20, 2014, 06:09:53 AM
 #9

I just think it's going to be an interesting ride and having the nerves to hold 1 or 2 Bitcoin when the price exceeds the exchange equivalent of $1 million today will turn you into a superstar when it hits $1 Billion per coin after governments begin to store ownership rights of national assets within the blockchain.


So the market cap of BitCoin will be 21 million billion...?

21,000,000,000,000,000?

Alright $1 Billion per coin isn't really feasible... Even if Bitcoin accounted for 100% GDP it would only be about 6.5 million per coin. But maybe the Aliens will trade $1 Billion in Space Cash for them...
 
Btw: we only have about 12 million coins right now. Then you can subtract all the lost coins reducing the number further. There won't be 21 million coins mined until 2140 and the coins in circulation will never reach 21 million without a change in the protocol...

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Hunterbunter
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February 20, 2014, 06:24:39 AM
 #10

I just think it's going to be an interesting ride and having the nerves to hold 1 or 2 Bitcoin when the price exceeds the exchange equivalent of $1 million today will turn you into a superstar when it hits $1 Billion per coin after governments begin to store ownership rights of national assets within the blockchain.


So the market cap of BitCoin will be 21 million billion...?

21,000,000,000,000,000?
That's a quadrillion, but a market cap of 21 quadrillion what? Will the dollar still be viable?

Aye plus market cap isn't market depth.
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February 20, 2014, 07:10:55 AM
 #11

Quoting best post in the thread for truth and wisdom:
20 years is too far ahead to even imagine where something like Bitcoin will end up.

I see 3 possible outcomes.

- Bitcoin survives
- Bitcoin is flawed and collapses to 0
- A new crypto comes out that is revolutionary enough to displace the Bitcoin mining network in it's favor

Assuming Bitcoin survives: (Highly likely)

I can't imagine Bitcoin ever being used as a primary day-to-day currency. I can imagine Bitcoin being used as a platform for every other currency to back itself against, think about USD being a Bitcoin Alt-coin, pegged in value against Bitcoin like Litecoin is now...

Bitcoin already has an amazing network, it's amazing how such a beautiful thing could be created so quickly; this wasn't chance, mind you. The growth of the network is a direct measure of the desirability of Bitcoin. The existing world-wide network will give Bitcoin an advantage over any new currency to be created in the future, cementing Bitcoin in place until something more revolutionary comes along stealing the miners away...

The world will evolve; but this doesn't always happen quickly. The faster the world attempts a change, the more resistance it encounters... Bitcoin will experience plenty of resistance along the way but I think after the next major international gold scandal things will change. For the first time ever, the world is looking at a zero trust distributed public ledger to which tangible property can be pegged against. Imagine what would happen if gold ownership were pegged against the Bitcoin protocol; the impact of that alone would be huge.

I can see so many new innovations coming out. Once these new innovations come to fruition, things will evolve too rapidly to keep up with.

Bitcoin is so insanely valuable that when enough of the world picks it up and adopts it, big business will be pulling on it like a vacuum and then national governments will start to play too.

I just think it's going to be an interesting ride and having the nerves to hold 1 or 2 Bitcoin when the price exceeds the exchange equivalent of $1 million today will turn you into a superstar when it hits $1 Billion per coin after governments begin to store ownership rights of national assets within the blockchain.

The GDP will be valued in Bitcoin as the nations of the world will all use their own alternate currencies backed by Bitcoin.

Remember Aaron Swartz, a 26 year old computer scientist who died defending the free flow of information.
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