Quote from: OmegaStarScream on April 10, 2017, 06:50:26 AM

According to Jeremy Liew, the first investor in Snapchat, and Blockchain CEO and cofounder Peter Smith. In a presentation sent to Business Insider, the duo laid out their case for why it's reasonable for bitcoin to explode to $500,000 by 2030.

A very interesting article at Business Insider that worth reading: http://www.businessinsider.com/bitcoin-price-could-be-500000-by-2030-first-snapchat-investor-says-2017-3

I'm however not sure about the part where he said "Bitcoin's user network grew from 120,000 users in 2013 to 6.5 million users in 2017" as there is no way to calculate the userbase of bitcoin. Despite all that, what are your thoughts?

My theory is that Bitcoin's user base will not grow significantly, but its price will rise because of the amount of money that each new investor puts into it.

Bitcoin will be much more of a stable asset. A fee market is required in order to preserve at least some level of decentralisation in mining, and that'll result in people flocking to several different altcoins which are more scalable. However, everyone that wants their money to be more secure will hold a significant amount in Bitcoin and use it for large transactions as well as HODLing, which people are starting to do already. The fees will only grow due to halvings and that'll increase Bitcoin's use as a stable asset as people buy into cryptocurrencies which are better for everyday transactions.

If Bitcoin were to become used like gold (which is very likely, especially considering that gold is quite hard for an average person to hold on their own), its price could come close to 500,000 just from that. Gold's marketcap is about 7 trillion, and dividing that by a 21 million total supply will get you 333,333. Market cap is very misleading though because much less than that would actually be in circulation, so in reality the price would be much closer to 500,000. It's possible, but it'll take time.