Bitcoin's future prospects

[Fredomago]

What are your thoughts?

Bitcoin is not going to collapse. I have read some post like this for like one and half years now and bitcoin is over nine years and still growing in population. We are now expecting a halving, this is going to likely push price more.

This optimistic approach from the entire industry of bitcoin will have a better future. Expectations before or after the halving is still high.
I'm sure it will gain good market value and it will not collapse as it already proven its existence. You need to work for more engagement to attain
more knowledge while waiting for more success coming from this industry. Don't lose hope and wait till everything show good outcome.

[pinggoki]

Bitcoin's future prospects could be better than the current one, but will the price continue down when it rises?

What is the probability of a bitcoin collapse? It is extremely likely that someone will attempt to take advantage of people's ignorance of the true nature of bitcoin.

If bitcoin's price continues to rise, people will soon be unable to ignore it; it will be perceived as the 'gold standard' for currency.

What are your thoughts?

Actually there's a low probability of a bitcoin to collpse or I'd say it won't happen due to the fact that bitcoin is already known of having a great potential and this will be attract more users that will make inflate the demand. As long as there's a demand  bitcoin won't fall down.
Regarding on future of bitcoin we will never predict how much price of bitcoin will have in the future but we can guarantee that it will have a bright future.

[AliMan]

Bitcoin's future prospects could be better than the current one, but will the price continue down when it rises?

What is the probability of a bitcoin collapse? It is extremely likely that someone will attempt to take advantage of people's ignorance of the true nature of bitcoin.

If bitcoin's price continues to rise, people will soon be unable to ignore it; it will be perceived as the 'gold standard' for currency.

What are your thoughts?

If me i will just follow the flow, i mean i actually believe bitcoin price can be very good in future. But if something happen and price really drop, so we must change to another investment. We must ready to face it, but if want to keep support bitcoin, it is everyone's choice.

I will continue to support because in my opinion the value of bitcoin will continue to rise in the future. Many people choose to invest in bitcoin right now because of low prices, but they are waiting for bitcoin in the long run.

How long we should be waiting for that price to commence a better market? There was no good trend to watch, it was fluctuating in a declining movement since the last fall happened unexpectedly. Supporting bitcoin for such a long time is a good motivations, but truth really hurts after those struggles affected our emotions specially on frustrated days that the price went so cheap.

[davinchi]

There is no way bitcoin collapses, there is waaaaaaay too much money involved now that it can't ever be anything under 1k ever again, there are just not enough sellers compared to buyers. If you check the order books of all exchanges you will see that there are more buy orders under 1k than there are bitcoins which means it technically can't get there.

Of course, some people may want to withdraw their orders which would eventually mean going under but there needs to be something HUGE for that to happen, like a loophole or a technical problem on blockchain or something in order to make bitcoin worthless and I doubt that will ever happen. Like if someone finds a way to print 20+ more millions of bitcoins which is highly unlikely if you ask me because code is solid.

[BitcoinHunt3r]

Bitcoin's future prospects could be better than the current one, but will the price continue down when it rises?

What is the probability of a bitcoin collapse? It is extremely likely that someone will attempt to take advantage of people's ignorance of the true nature of bitcoin.

If bitcoin's price continues to rise, people will soon be unable to ignore it; it will be perceived as the 'gold standard' for currency.

What are your thoughts?

If me i will just follow the flow, i mean i actually believe bitcoin price can be very good in future. But if something happen and price really drop, so we must change to another investment. We must ready to face it, but if want to keep support bitcoin, it is everyone's choice.

I will continue to support because in my opinion the value of bitcoin will continue to rise in the future. Many people choose to invest in bitcoin right now because of low prices, but they are waiting for bitcoin in the long run.

How long we should be waiting for that price to commence a better market? There was no good trend to watch, it was fluctuating in a declining movement since the last fall happened unexpectedly. Supporting bitcoin for such a long time is a good motivations, but truth really hurts after those struggles affected our emotions specially on frustrated days that the price went so cheap.

Maybe if people want to keep support it, it is their choice. But like what you said, we people should know which one  that can be profitable or not. So if bitcoin (hope not happen) get bad things so it don't have it's value anymore, we can't keep to support it.

[BitHodler]

Like if someone finds a way to print 20+ more millions of bitcoins which is highly unlikely if you ask me because code is solid.

Inflation bugs will be forked out very quickly, so for me that has never been an issue im too afraid of. The more critical the bugs are, the faster they are being worked on, especially within Bitcoin's ecosystem.

I would worry more about extra inflation when it comes to privacy coins. As we speak XMR might have a bug exploited where millions of it were printed. The more you do to obfuscate the origin of a coin, the harder it is to detect.

[Dart18]

You are just telling the basics of the market of crypto currencies.

If it does grow into price then someone could sell and then back again to buying when the price had bern dump.
You cannot foretell the market for it is volatile, anything could happen anytime.

What you can do is be ready. There will be rise and fall anytime.

[inthelongrun]

Meanwhile, I found many new threads (not necessary) that were started by newbies and then flooded with replies from people wearing Cryptotalk.org. Are these activities intentional? 

Bitcoin's future prospects could be better than the current one, but will the price continue down when it rises?

Look at this first line. I cannot understand what it means. And yet there are too many replies mostly from Cryptotalk members. Amazing!

[Febo]

Like if someone finds a way to print 20+ more millions of bitcoins which is highly unlikely if you ask me because code is solid.

Inflation bugs will be forked out very quickly, so for me that has never been an issue im too afraid of. The more critical the bugs are, the faster they are being worked on, especially within Bitcoin's ecosystem.

I would worry more about extra inflation when it comes to privacy coins. As we speak XMR might have a bug exploited where millions of it were printed. The more you do to obfuscate the origin of a coin, the harder it is to detect.

Bitcoin had inflation bug, Monero never had one.  You can easily audit the Monero supply: https://monero.stackexchange.com/questions/11548/how-does-monero-protect-users-from-inflation-bugs-if-the-blockchain-cant-be-aud

All Monero code is open source. And all code was audited several times by audit companies. You can see reports of RandomX audits here: https://ostif.org/four-audits-of-randomx-for-monero-and-arweave-have-been-completed-results/   and you can see reports of Buletproofs audits by Kudelski here: https://ostif.org/wp-content/uploads/2018/07/KudelskiBulletproofsFinal.pdf    I know Buletproofs were audited by 4 diferent companies.

This audits cost a lot of money. Beside organisation. Monero is doing it right way. Bugs are always possible and can also happen in Monero. But I am sure there are 99.99% other blockchains that will bug and even inflation bug happen then in Monero.

[coinfinger]

I am not sure that bitcoin will ever collapse, because it is now that it is just taking the real shape, and I am not surprised as to how bitcoin is actually operating now, because to me, that is how it ought to be. Bitcoin value is not supposed to climb up with speed as it did in 2017, and that speed was just typically a manipulation which has made people get use to the mentality that bitcoin is a money dubbler.

As adoption rate grows, so as bitcoin is meant to grow gradually and getting adoption is not just a stone throw, it will take years, so it is not that we are gradually having the real adoption, all these drop in price are probably some of these whales leaving the market, and it is better they leave the market so that we can have a stable and steady growth of bitcoin even if it is slow.

[iamsange]

Bitcoin's future prospects could be better than the current one, but will the price continue down when it rises?

What is the probability of a bitcoin collapse? It is extremely likely that someone will attempt to take advantage of people's ignorance of the true nature of bitcoin.

If bitcoin's price continues to rise, people will soon be unable to ignore it; it will be perceived as the 'gold standard' for currency.

What are your thoughts?

Collapse will need time for bitcoin especially at this time. When people already know benefit from have it. Either as investment or maybe to be tool for them to do trading. In past when bitcoin price is lower and ponzi scheme really popular and make bitcoin price dumped, it not collapse. Especially for now when a lot of people know benefit from use bitcoin.

[BitHodler]

all these drop in price are probably some of these whales leaving the market, and it is better they leave the market so that we can have a stable and steady growth of bitcoin even if it is slow.

Whales aren't leaving the market at all, why would they? It's too profitable for them to stick around. Most of the increases and decreases are the result of long or short squeezes on platforms such as Bitfinex and BitMEX.

In Bitcoin we never really had stable growth----pumps and dumps is all we know here. The charts are there for you to look into.... the few months of sideways 'stable' price action are nothing in the grand scheme of things.

[Reid]

Well it did take a lot of attention to the public by making it 20k.
A lot of my friends suddenly knew about what bitcoin is.
Now, it will just be a mere pump if it takes back the 12k mark. Yes, it might make those FOMO's go back to bitcoin instead of staying with their stable coins. But that is still a risk and we have no facts but just mere speculation.
I guess we should just wait for it to happen and when that time comes and it doesnt stop increasing then the prediction might be true.

[sunsilk]

People who still don't know it can't ignore it after knowing that it was able to reach the highest price that it had on its history. And soon the same scenario can happen again, they just can't ignore it.

We're now on that period that bitcoin is becoming established as these gov't rules are coming to regulate the market. While the confidence and trust of the people which is on the gov't will be passed on to bitcoin soon.

[danherbias07]

Bitcoin's future prospects could be better than the current one, but will the price continue down when it rises?

What is the probability of a bitcoin collapse? It is extremely likely that someone will attempt to take advantage of people's ignorance of the true nature of bitcoin.

If bitcoin's price continues to rise, people will soon be unable to ignore it; it will be perceived as the 'gold standard' for currency.

What are your thoughts?

Low probability.
Again. 6-7k USD is the lowest that I can see which bitcoin will take and no lesser than that.
This time is already the proof of it. The retaliation of bitcoin to be pulled down even with all the FUD that had been spread and the competition from the hype of altcoins.
They say altcoins will soon be pumped and if that does happen then bitcoin could fall afterwards since there maybe FOMO's that will sell bitcoin in exchange for the hyped altcoins. But I doubt that will really happen.

[milewilda]

Bitcoin's future prospects could be better than the current one, but will the price continue down when it rises?

What is the probability of a bitcoin collapse? It is extremely likely that someone will attempt to take advantage of people's ignorance of the true nature of bitcoin.

If bitcoin's price continues to rise, people will soon be unable to ignore it; it will be perceived as the 'gold standard' for currency.

What are your thoughts?

Low probability.
Again. 6-7k USD is the lowest that I can see which bitcoin will take and no lesser than that.
This time is already the proof of it. The retaliation of bitcoin to be pulled down even with all the FUD that had been spread and the competition from the hype of altcoins.
They say altcoins will soon be pumped and if that does happen then bitcoin could fall afterwards since there maybe FOMO's that will sell bitcoin in exchange for the hyped altcoins. But I doubt that will really happen.

Anything can happen and we cant really able to pinpoint on where would prices would only stop because anytime it can break out expectations just like what happened on 3k price where we didn't even expect for it to happen since we already past up 20k mark and going those lows are somewhat hard to believe on but it did happen eventually which this proves out that nothing is certain.Talking about altcoins bull run? Its hard to believe that those good old days will happen on these upcoming years knowing that lots of people get wrecked with those times.Confidence on investing to crypto
would already have some hindrance or hesitations which isn't similar as before.

[cryptoangel]

What you can do is be ready. There will be rise and fall anytime.

This is the way demand and supply interact with product, commodity or services as we were taught in economics and this is normal. It is for the optimist to take a decision. As far bitcoin is the focus today unlike gold back in time, it prospect is future inclined. We are further going to see price appreciation now that it seem we are having a more stable movement.

Every year supply and demand was interact with product and services they need more investors on all the time then only future prospects will increase so Bitcoin is always king of crypto currency. I am sure gold is depends on centralized platform and Bitcoin is decentralized platform so both are different from future prospects.

[adaseb]

If bitcoin's price continues to rise, people will soon be unable to ignore it; it will be perceived as the 'gold standard' for currency.

your problem like many others is thinking that bitcoin is one thing: price

when the fact is that whether people ignore bitcoin or not has nothing to do with its price. price rises and falls only attracts one type of people and that is day traders who are interested in fiat not bitcoin and want to use bitcoin to earn fiat.
the funny thing is that the price drops attracts these people nearly the same as price rise does! because day traders make their profit either way.

This is true but it doesn't only attract day traders, there are many people that treat Bitcoin as a long term investment and the issue is that these types of people only seems to buy when the price is going up. And they generally sell when there is massive selling pressure and leads to huge price declines kind of what we saw in Nov 2018.

People assumed that $6000 would break and the lowest will be $5500 but in reality look how low it ended up going. So basically any long term investor that bought above +$10000 ended up with huge losses when they sold at around $3000.

This is why Bitcoin has very fast pumps and the dumps are usually more slow bleeding but eventually there is a capitaluaton event and it reverses.

[Docnaster]

In the future I believe Bitcoin would stay or become an investment asset, despite the implementation of lightning nodes and all. It is already very bulky on its own. Lightning nodes may make a difference and make it more acceptable as a payment option, but there is no way to change human mentality. People invest in bitcoin, not to spend it. They have fiat for that. To hope that Bitcoin would completely replace fiat in any dystopian economy would be wishful thinking.

You would need to consider a future where Bitcoin is not alone in the global economy as the go-to investment option when it comes to crypto. A situation that we already know exists thanks to the 2017 altcoin & bitcoin bubble. That is the future prospect of Bitcoin, but perhaps with a lot more reduction in dominance.

[rachmat5893]

In my opinion, bitcoin will still tend to continue its movement within that range before showing a more significant movement. The strong sentiment which is seen as going to be the driving force of bitcoin prices going forward, as well as triggering the increase in BTC, namely, macroeconomic factors. The heating up of trade war issues and the perception that there will be a continuation of the crisis in the near future, has the opportunity to push prices back uphill.
That way, for the long term up to the next three years, see the opportunity for BTC to rise to around US $ 80,000.