Where do YOU think bitcoin is headed? in the next 5 years? 10 years?
The future of BTC (bitcoin)
- Thread starter Manpons unite
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I think BTC is an innovator, but I don't think it will be the end all and be all of cryptocurrencies. I think something better will come out.
What aspects of bitcoin can be improved on that another currency could do to surpass it?
Good question, i feel that btc has the potential to be the end all be all currency for anon online trading
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Currently there is nothing wrong, but the internet and computing is changing literally daily. Take Moore's Law and consider where processing is going to be at in 5 years. I am just saying that it is likely going to be replaced as things become more and more advanced. Short term it is very interesting though.
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In the next several years, I see it increasing in value. However, once the limit on mining reaches the 21 million BTC mark, interest will slowly fall and the BTC will lose its glory. Soon another cryptocurrency will take over, and the process starts all over again. However, like many have said, for now BTC is in the limelight
I was not aware there was a limit on mining
ilovegold69
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i don't think it will get bigger than internet trading unless a country or at least part of one will accept it as currency. I would personally like to have a universal currency for when i leave the country
That would be ideal but would be difficult because of denominations and how the currency's exchange. for example we have country A and B. in country A its worth 1, and there are bills for that, but in country B, its only worth .346. How would we break that down into a tangible bill? it would all have to be electronic
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Satoshi has said that there will be the max of 21 million BTCs to ever be mined. After that, no more can be found. To date, approximately 12 mil have been found, and the difficulty is ever increasing. This is because as more have been found, the chances of finding the next decreases. With KnC expected to ship out soon, expect a jump in the difficulty chart. I myself have ordered several, both from KnC and CoinTerra, for a total spec of 3 TH/s. Expensive, but I'm confident of my secret abilities to generate huge income on passive activity. I'm only 17 years old, after all. My parents nearly screamed at me for doing this, but I managed to convince them
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There's no way a country would accept it as it's a Cryptocurrency. It's near to impossible to regulate the flow, and since the limit has been set to only 21 million, increasing that limit at this stage would only damage the value and purpose of the currency. Not to mention each sovereign country has their own currency, and they regulate theirs heavily and with pride.
How much do you think you will be profiting, after electricity expenses and all
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It's hard to tell. I can't accurately guess, as I do not know how many people have ordered the latest miners. I'm expecting, at worst, for a minimum of $100 per day, after overheads and all.
how much are you investing in your mining rig? 100$min a day seems like a lot
Jumping on the BTC mining band-wagon now is pointless. You won't get $100/day worth after overheads, people run dedicated BTC farms and make less. If you made $100/day you could keep adding a new rig every fortnight and speed it up exponentially.
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I'm actually quite serious, with the pool and equipment I'm bound to get, not to mention I've got some secrets up my sleeve. I've been in the BTC business for a long time, so I know a lot of twists and turns.
There's a reason I've buying what I am. I've done some calculations, and this is the saturation point of earnings. After this, it would all be in waste to purchase more as it'll start to decrease. However, do believe me when I say I've several ways to save on electricity costs here. I'm from Malaysia, btw.
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What you are saying is that eventually, with computers improving in processing power, and people continuously analyzing the coding behind Bitcoin, that eventually a flaw will be exposed in the system. From what I understand it would also be very difficult to fix a flaw in Bitcoin if a flaw presented itself. Everybody on the network would need to cooperate.
However, until a flaw IS exposed, Bitcoin will be head and shoulders above any other cryptocurrency. Everyday, there are more shops accepting BTC, and more development in BTC-based services. Just recently, the first Bitcoin-ATM launched in Canada. Bitpay hit 10,000 merchant accounts this year. With this level adoption, it will be difficult for anything to dethrone BTC, barring a major security issue within the system which cannot be fixed.
I hope it raises, people have all sorts of theories. However, time will tell.. All I hope is my BTC value half a milly one day
I think it will just continue to rise.
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