Re: Tell me your predictions about Bitcoin

My prediction is simple we will touch the 2000 dollars price at the end of the year maybe we will only touch but I think that price is reachable and if it this then bitcoin will create a storm in the economic world and everyone will want to have a piece of bitcoin.

Judging by the fact that analysts predict, then it really will happen. I think that such a prospect is quite possible, given the doubling of prices over the last few months.

Yeah, the current bitcoin situation is very promising and gives the impression that it is going to keep on rising in both the user base and the price and that means that we should hold on to our savings because there is going to be a peak in the next few months and that will be a good way to make profit.

Hitting main stream of adoption would be my predictions on bitcoins, still it might need more time. Probably before 2020, we could assume everything will be available for bitcoin payments.

Things will definitely change in next 4 to 5 years as we will see more adoption and even the acceptance of bitcoin will go to higher level and we will find many online as well as offline places where we could easily spend our bitcoins and the price will also be much higher then present.

I don’t know spending bitcoins off line at the moment sounds like nothing but a pipe dream at the moment, confirmations are taking a long time the las time I sent a transaction it took 24 hours to confirm despite the fact I sent a good fee.

This is true especially when trying to estimate the usage of bitcoin in day to day life. Just check how much time does any credit/debit card takes to complete the transaction. It happens in few seconds. Everytime I try to send or receive bitcoins average time is few hours. Who would wait for that much amount of time for completion of transaction. Bitcoin technology needs to be scalable to growing requirement.
Just imagine what would happen when bitcoin price would reach to the highest level, transaction fees also increase exponentially. That is not good sign

It only appears that the transaction happens almost instantly

While in reality it takes up to a few days to get finally cleared. It is possible to make payments close to instantaneous because this payment system is centralized, and its participants trust the payment processor which guarantees payments. With Lightning Network update basically the same could be achieved even with Bitcoin in an untrusted environment and likely with lower fees at that (or no fees at all). By the way, that's one of the reasons why miners are so opposed to introducing updates to Bitcoin which could make transactions cheaper and thus faster