Bitcoin Community Voice: Predicting the Year 2015
by Helga Danova | Nov 20, 2014 | Crypto News
Bitcoin in 2015. How many predictions have you already heard from the experts? Professionals of the Bitcoin industry? Employees of Bitcoin companies? Lots of them. Hundreds. Thousands. But what about voice of the community, the real power that supports the blockchain and stands behind confirmations of your transactions?
We decided to ask them about their expectations of the year 2015 and the level of their optimism regarding Bitcoin price and development.
East or West, people are mostly concerned about the Bitcoin price. Contrary to fiat money, Bitcoin technology is not studied enough and not controlled by any central authority, thus its price can significantly fluctuate every single minute.
What about its behaviour in 2015? Bitcoin users share their thoughts that are not as optimistic as we’d like them to be:
“price between 100 and 200 (I say 120). I feel it has its usage in the legally grey (or downright black) economy. I don’t know what is the size of that, but it’s useful there. for better or worse… Nobody really wants or needs that.There will never be a big consumer adoption because it’s not really needed outside of a legally gray cases.“ throwmebone, Reddit “…spike hits 16,000$/bitcoin, average not that far away HOWEVER since this is mostly driven by merchant trade, we’re going to see the same pattern. Exponential spike, sudden drop, slight increase, and then slow decrease(25%), end result: we might be at the end of the year back around this point again, or in the low 1000$s. People will complain(99%).” themusicgod1, Reddit “People will post all kind of bullish indicators and stuff, some more companies will accept bitcoin and price goes down to 230$ by the end of 2015.“ crbncil, Reddit “Price continues to go down, finding less volatility between $100-$300. Price stabilizes within this range. (small possibility of price reaching all time high in the event of another recession or depression).“ rdgrrbbit, Reddit “Commodity prices are flailing across the board, and Bitcoin is not immune. Money is going into stocks, not the Bitcoin economy (or metals, oil etc.) As long as that stays the case, BTC will slide gently and will test the mid 200s, if not lower. If something funny happens with the USD, BTC will benefit and potentially massively. The days of Bitcoin getting price boosts just on the announcement of a new merchant or on coverage in the news are over. The investor class knows about Bitcoin, they don’t think it wise to move in in the present environment.” swmich73, Reddit
Still, there is a place for humour even when it comes to money:
“5K Bitcoin in 2015 and I’ll eat a paper wallet.“ Introshine, Reddit “Anyone who sold or made fun of Bitcoin in 2014 will look like a fool. This same exact thing happened in during the bubble/crash of 2011-2012.“ Smoothcurves, BitcoinTalk
Overall industry development
Despite downbeat forecasts of the Bitcoin price, people of the web are more excited when it comes to the industry development and Bitcoin technology.
“I try to be optimistic. I mean what else can go wrong from here. There is no more Mt Gox. People are gaining trust in the system. Microsoft is trying it out to see if it works. Not to mention Paypal. Forget about the price. If it drops, I’m sure there are many who are willing to buy at lower price, pushing it back up once again.” Q7, BitcoinTalk “I predict that we will see a decentralized music streaming service, a decentralized replacement for Steam and possible a decentralized replacement for streaming services like youtube and twitch. All during 2015. But obviously in alpha/beta phases.” OCPetrus, Reddit “The price will go up and down and up and down. Someone will come up with a new thin SPV client (as if I want to trust a full node other than my own) and no one will prune the blockchain to reduce its ridiculous torrent worthy size. Someone will release the news of another portable device, phone interface or card that holds Bitcoins to use at a store but the userbase won’t grow enough for new devices to have value. Someone will release the news of a new Bitcoin NFC creation because all the phones are headed that way. 50 new scammers will be caught. At least 1/3 or more of them will be businesses. A couple of exchanges will fail either due to regulations or fraud/incompetence of the owner.The Bitcoin Foundation will be involved in another major scandal. A handful of new bugs will be discovered in the main client and it will be updated a half dozen more times but remain in beta. The forum will become more and more of a resource for law enforcement and the admin will get an increasing number of subpoenas for information to support current cases. BitPay will convince another handful of large corporations to accept Bitcoin using a zero fee deal. Small miners will continue to be pushed out of the market as technology changes and old pools die focusing the mining effort into the hands of fewer large pools and large farms. At least one country in the world will ban Bitcoin and one will welcome it. There will be 200 or more new “who’s satoshi” threads.” QuestionAuthority, BitcoinTalk
Although there are so many Bitcoin companies, two of them have managed to gain more attention within forecasts:
“Ethereum receives a lot of press coverage, further fueling interest in Bitcoin/Blockchain technologies for those that formerly thought Bitcoin to be ‘nerd money’. rdgrrbbit, Reddit “Ethereum will go live, resulting in greater focus on improving Bitcoin’s smart contracts capabilities.” BobAlison, Reddit “Bitpay (or other) will continue with new TV adds that will go nation wide (USA). Most people will not think twice about it, give it no attention, but hey it’s there, it’s in front of them, it’s resonating in the back of their minds. Heaps of people search “What is Bitcoin” as a result.“ rdgrrbbit, Reddit
Ending up a short summary of predictions for the year 2015, we’ll just leave two comments about the most important part of the Bitcoin industry — the community.
“less than $50.
the reasons are (in no particular order)
the communities refusal to have an open discussion about problems with bitcoins.
that almost nobody spends them for legal stuff.
the toxic attitude that large parts of the community has.
the large number of fraudsters and scammers in the community
btc is too complicated for the masses
the only safe way to store your internet money is on a computer that never touched the internet
the outright lies about features of bitcoin
half of the people here have no clue what they are talking about
more upcoming laws and regulation
how easy it is for big players to manipulate the price
and so on and so on”
FishInhaleTheirPee, Reddit “Bitcoin community growth continues to grow slowly, outpacing the number of subscribers the average niche fetish porn community has.” rdgrrbbit, Reddit
- Share 0
- LinkedIn 0