5 Predictions in 2014 for Bitcoin, THE Digital Currency

The nature of predictions is a fine line between sounding asinine and genius. What makes a visionary different from someone who’s just delusional, is the work they put in to actualize that vision. It has been said, “Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it’s the only thing that ever has.” Together, we are trailblazing a new digital frontier as pioneers who are breathing life into Bitcoin as it becomes THE Digital Currency of the World. Let’s look at the exciting things to come in 2014 and beyond.

1. Developers will continue to make it increasingly user-friendly for consumers and merchants to adopt the young technology.

• We can push all in on this no-brainer. As a consumer, you can already buy anything online with bitcoin through snapCard. And everyday, more merchants are signing up to accept bitcoins as a desirable form of payment. Small businesses love the low processing fees and the extra customers coming in from the bitcoin demographic. Big companies like Overstock, Zynga, and Virgin Galactic are starting to jump onboard. Even salaries are being paid in bitcoin. And of course, you can always count on developers to solve existing problems to make bitcoin even easier to use. There are endless forms of services that can be provided through the ever-expanding bitcoin superstructure. And it don’t stop.

2. Bitcoin will NOT fall to $10 or $0. Even if prices dip in response to adverse changes in the marketplace, it will rise back up to a new equilibrium as it has already proven, post-China ban.

• For all the doomsayers trolling on bitcoin’s peaceful insurrection, dubbing it an illegitimate currency, coming forth with theoretical technicalities and slanderous rhetoric, defaming bitcoin as a hype, a bubble, or evil, let’s get one thing clear: the market has spoken. Bitcoin’s here to stay. Now, I’m not here to argue about economic theory. Some of the voiced concerns actually bring up important questions, problems which are really answers in disguise, obstacles for the techno-private sector to take on. But the bottom line is, as an investment vehicle like any other, bitcoin has shown resilience at certain support levels, meeting resistance points, yet is generally uptrending. An article on theverge.com mentions a number of possible death scenarios for bitcoin, but the only legitimate threat is if the banking elite pull strings using media and governments to orchestrate the prohibition of the cryptocurrency worldwide. Yet, it is hard to imagine any legitimate reason for any democratic government to be overly-hostile toward something useful created within the free market. Maybe Wall Street just want in on the action, which brings me to my next point.

3. Hedgefunds and banks in certain countries will start investing in bitcoin, holding small reserves at a time, steadily driving up the price of the digital currency, even to $10,000.

• We all know about B of A and Merrill Lynch dedicating research to bitcoin, valuating 1 bitcoin at $1300. Or the Bitcoin Investment Trust raising $65 million reserve for a bitcoin fund. If established financial institutions continue to show real interest in the bitcoin investment space, they may choose to make a first move advantage against their global competitors, holding a position, contributing to demand, causing prices to rise steadily. The thing is, Wall Street holds no allegiance to central banks— they adapt to changes in the market like any other business entity. So if it looks like bitcoin is gaining wide acceptance around the world, buying into the digital currency would be the smart move. And what perfect timing: With the introduction of colored coins, hedge funds who missed the first wave can catch the next wave, Bitcoin 2.0, by introducing stocks or bonds valuated in a certain amount of bitcoins attached to each share.

4. Many new investor-consumers will jump on-board the bitcoin bandwagon and ride the wave of rising prices, holding onto bitcoins for investment purposes and ease of use, increasing in bitcoin wealth, massively contributing to an upward spiral of adoption.

• This is where that thin line between sounding asinine or genius comes into play, if it hasn’t already happened. I have no evidence to cite here, except to say, isn’t it obvious that if bitcoin becomes easier to adopt/ starts gaining wider acceptance among the general population/ the business community/ a new wave of digital bankers, that if it becomes increasingly useful in all facets of the economy and starts replacing ways of doing business due to the efficiency gains from changing paradigms, that all of these happenings will draw people in with aligned interests and massively boost demand/ causing prices to go up/ drawing more people in in a self-propelling upward spiral. That was a question I think.

5. Bitcoin will become mainstream.

• Those who choose to use it due to its practical advantages, along with those who build it up to make it easy to use, co-create what we call a market, validating the cryptocurrency with a legitimate place in Our economy. The collective consent of the Common Man, the discerning decision of the Economic Man, to recognize the usefulness of, to invest, hold, and use Bitcoin, is what gives it Value.

Jack here from snapCard
www.joinsnapcard.com