Future of Bitcoin
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Future of Bitcoin

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Future of Bitcoin Future of Bitcoin Presentation Transcript

  • Ron GrossBitcoil
  •  4 years into the adoption curve X1000 price increase since 2010 Services Legal / regulatory
  •  Future predictions affectthe present Bitcoin is a BootstrappedCurrency
  •  Bitcoin fails Bitcoin stagnates Bitcoin wins
  •  Bitcoin has powerful, well-funded enemies Payment processors Banks Governments ? Various attacks are possible Protocol attacks (e.g. 51%) Price manipulation Regulatory attacks Hacking
  •  People lose faith in Bitcoin A race to the bottom – prices spiral to $0 The way down might take a while, likethe way up
  •  Bitcoin prices reach a stable price level It becomes some small percent of the worldeconomy Used for some purposes, mostly on theinternet Growth in user base and monetary value halts
  •  Bitcoin is useful even if not “everybody” isusing it. Bitcoin users can still: Hold their own money Send it to whoever they want Use advanced features People move in and out of the Bitcoineconomy at will
  •  More and more people see the benefits They trade Fiat money for BTC Bitcoin is a major part of the worldeconomy
  •  Banks and payment processorscooperate instead of compete Insured BTC deposits Government issues Fiat backed by BTC(Gold Standard 2.0)
  •  Bitcoin becomes boring Several great wallets to choose from Everything JustWorks
  •  Buy Bitcoins at your supermarket / bank Distributed exchanges Lower exchange fees Managed wallets
  •  Bitcoin is just the first cryptocurrency Ripple is also a competitor Maybe something else entirely?
  •  Block reward drops to zero around 2050 Transaction fee structure change Hash function upgraded(Quantum resistant) Other changes (e.g. micro-satoshi) Some things remain fixed (21 million coins)
  • ron.gross@gmail.comripper234.com/about
  •  https://en.bitcoin.it/wiki/Weaknesses http://bitcoin.stackexchange.com/questions/2259/what-would-be-an-estimate-of-the-value-gained-if-the-whole-world-started-using-b http://en.wikipedia.org/wiki/File:Total_bitcoins_over_time.png https://en.bitcoin.it/wiki/Hardfork_Wishlist http://bitcoincharts.com/charts/mtgoxUSD#tgSzm1g10zm2g25zvzl http://blockchain.info/charts/my-wallet-n-users?showDataPoints=false&show_header=true&daysAverageString=1&timespan=all&scale=1&address=