The Future of Bitcoin

Where is Bitcoin headed?

My personal stance is that bitcoin will continue to move to a higher value of around $1,000 USD. It’s value won’t reach more than that. At the rate bitcoin is moving at there isn’t much space for the price to go higher.

What about users?

We won’t see that many more people adopt Bitcoin. Mainly because they don’t have a use for Bitcoin and fiat currency is more suited for their needs. More uses for Bitcoin will come and help adoption rates, but it won’t create a mass adoption anytime soon.

Why is bitcoin valuable? For the same reason that gold is valuable. Why is gold valuable? Not for itself. Those who speak of “the gold standard” as if its worth were axiomatic, rather than a collective hallucination, forget that the value of an ounce of gold is vastly more imputed than intrinsic. If we valued gold only for its shine, malleability, and conductivity, it would be worth much less.

So what can we do for Bitcoin?

We can keep pushing it forward with new applications and uses for it. Tell your friends and neighbors about Bitcoin. Bitcoin won’t be used by many more people if we don’t give them a reason to use it and tell them about it.