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Author Topic: Gavin Andresen prediction for Bitcoin in 2061  (Read 303 times)
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September 30, 2021, 09:31:31 PM
 #41

Well, I know that since it is a free world, people are always going to say a lot of things, even the ones you are not going to like at all. Our levels of understanding differs and the way we all see things. But all these speculations are getting too much; every time people are always looking for something to say about Bitcoin, especially influencers who are seeking for attention, they would just say anything and get people talking and giving them the attention they desperately seek. 6 million USD in 2061? Alright, I have nothing to say about that, but him assuming that it will get to an extent where the network would shut down is what I never really liked.

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October 02, 2021, 01:42:31 PM
 #42

Well, I know that since it is a free world, people are always going to say a lot of things, even the ones you are not going to like at all. Our levels of understanding differs and the way we all see things. But all these speculations are getting too much; every time people are always looking for something to say about Bitcoin, especially influencers who are seeking for attention, they would just say anything and get people talking and giving them the attention they desperately seek. 6 million USD in 2061? Alright, I have nothing to say about that, but him assuming that it will get to an extent where the network would shut down is what I never really liked.
it is true that there are people who have had enough of their lives and think money is not everything, for example, like certain religious leaders who only think about spiritual things without thinking about anything else.
but apart from that, there are still many who still prioritize money compared to other things, even when we see now a lot of bloodshed and wars are going on, the end of which is to get excess wealth both from finances on the other side and resources that can be sold. .
and until whenever something like this will not be able to be changed because it is human nature that incidentally is greedy and always feels that it is not enough with what they currently have.

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October 02, 2021, 02:24:41 PM
 #43

Arguably one of the biggest mistakes Satoshi Nakamoto made was transferring things over to Gavin Andresen, the guy who worked with agencies, than with Craig Wright, and now he writes some grim sci-fi future for Bitcoin on his blog.

This guy become so irrelevant in Bitcoin crypto space that maybe his only fun in life now is writing stuff like this, claiming Bitcoin will be worth 6 Million USD in 2061, but most transaction won't happen on BTC network but on multisignature and other network tokens.

Andresen claims that only whales, big holders, exchanges and banks will hold this tokens, and in year 2100 network will shutdown after closing down bridges for this tokens and fees becoming unsustainable.


Price predictions 40 years away are invariably worthless, as people can't accurately predict what the price will be tomorrow and the longer the time horizon the more inaccurate the price predictions are.  However the logic he's using to predict the btc blockchain slowly dying is quite sound.  It is abundantly evident that bitcoin has major systemic problems that are only going to become more evident as fewer newer bitcoins are produced.  Fees will become exorbitant, therefore transactions will fall, therefore the mining incentive will fall, therefore miners will drop out, therefore the network will become far less secure.  It will be a death spiral, and without major structural changes to how the network operates, I believe he's more right than wrong about his prediction for eventual demise.  The timing element is irrelevant.

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October 02, 2021, 03:08:29 PM
 #44

What is clear is that this news is very annoying if it really will happen in the coming year. I don't really know how this is actually used as a benchmark when everyone adopts Bitcoin and then eventually it will be given control to one particular person who claims that without him Bitcoin is nothing.

We must be able to think positively that hopefully before the time comes, maybe Gavin Andresen will die first. Isn't it much more rational for us to bet on the future of Bitcoin?

I believe it will be fine and Bitcoin will be preserved.

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October 02, 2021, 10:21:01 PM
 #45

If there are two things I can pick out of this whole rubbish or soi choose to believe that Gavin Anderson stated or predicted is that, he specifically called his prediction 'a piece of science fiction and beckoned on is to 'Imagine in the year 2061'.
Apparently, any one can come up with any prediction, predictions that could even suggest the crashing of the world, how its to happen and even propose a solution to it but, does that mean, that's what  is to happen or the solutionn is the way to go about it, certainly a yes or a no.

It would be  a good thing to take advice form one who has made several mistakes but not one who even continues to wallow in mistakes still and claims that aren't verifiable like Gavin Anderson. Let him have his say and lets have even more fun still!
People cannot even predict what is going to happen in the markets tomorrow so it is completely impossible that anyone is going to be able to accurately predict what is going to happen in 40 years, so what we really need to think about is why he will go through the trouble of writing something like that? And to me he's just trying to bring attention to himself because as we know early on he was an important figure in the world of bitcoin and now he has lost relevance to the point that we do not even care about any prediction that he may make.

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October 02, 2021, 11:59:20 PM
Last edit: October 03, 2021, 12:25:18 AM by AndySt
 #46

If there are two things I can pick out of this whole rubbish or soi choose to believe that Gavin Anderson stated or predicted is that, he specifically called his prediction 'a piece of science fiction and beckoned on is to 'Imagine in the year 2061'.
Apparently, any one can come up with any prediction, predictions that could even suggest the crashing of the world, how its to happen and even propose a solution to it but, does that mean, that's what  is to happen or the solutionn is the way to go about it, certainly a yes or a no.
It would be  a good thing to take advice form one who has made several mistakes but not one who even continues to wallow in mistakes still and claims that aren't verifiable like Gavin Anderson. Let him have his say and lets have even more fun still!
People cannot even predict what is going to happen in the markets tomorrow so it is completely impossible that anyone is going to be able to accurately predict what is going to happen in 40 years, so what we really need to think about is why he will go through the trouble of writing something like that? And to me he's just trying to bring attention to himself because as we know early on he was an important figure in the world of bitcoin and now he has lost relevance to the point that we do not even care about any prediction that he may make.
Just a person expressed his opinion about the likely scenario of the development of events, and then it's your personal business how to treat it Wink Although, of course, forecasts for such a long period as forty years are a thankless task and have little to do with actual reality. Also, I think that on planet Earth and on nearby planets there is hardly a reasonable being whose forecasts are worth looking at and will really listen for such a long time Grin Therefore, I agree with Andresen that this is from the field of near-scientific fiction and the scenario of an expensive half-dead bitcoin is quite real. But the specific details of this already completely depend on the degree of imagination of the author of such fantastic inventions.
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October 03, 2021, 07:57:20 PM
 #47

I don’t think he’s gone to the dark side. I think that many of us early Bitcoiners had a vision for Bitcoin that was suddenly railroaded by unnecessary man-implemented limits that turned Bitcoin from something that could free the world from financial oppression, into a get rich quick scheme to assimilate into the existing system. If satoshi were still alive, I think he would be more aligned with Gavin’s desire for Bitcoin’s future than Blockstream’s.
I didn't know you are one of those Faketoshi supporters like Gavin Andresen, and Satoshi would never be aligned with Gavin's thinking about Bitcoin future, in the same way like he didn't agree with him when he went to talk with government agencies... Satoshi disappeared soon after that.
Handing over stuff to Gavin was probably one of the biggest mistake Satoshi did and I think he realized that quickly.
Maybe I don't like what Blockstream is doing but I don't have to pick sides in this case, and it's totally unrelated with this topic.

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October 03, 2021, 10:51:11 PM
 #48

Gavin Anderson is crazy he/she has stated or predicted that in 2061 this is a prediction and anyone can say so because here it is speculation. Regardless of whether that's true or not, we'll see it 40 years from now. Regarding the price of 2061, there are only 2 possibilities in the speculation neither right nor wrong, but no matter what research I think it is still far from happening because 40 years is a period of time. long-term things can't be correct all just speculation. Gavin Andresen is just a market amateur who just speculates on prices and what isn't and I don't care about this, it's completely unrealistic.

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