Last year was one of the best in Bitcoin history. hundreds of millions dollars was invested in startups working on new blockchain solutions, new regulations was created like New York BitLicence or revolutionary projects which could change our everyday life like Ethereum made 2015 really exciting. This year was also really good for bitcoin when we look at price. Bitcoin was one of the strongest currency and increase over 40% after two years bear market since december ’13 when price hit over $1000. Whole network is still growing, daily transactions also hits new all time high, hashrate is bigger and bigger and major financial companies takes Bitcoin seriously.
So how will bitcoin looks like in 2016?
No one is a wizard and can’t predict future so we ask long time bitcoin supporters and owners of big international bitcoin companies about their opinion.
2016 is the year when the developing world desperate to preserve their wealth in the face of governmental capital confiscation, inflation, and currency depreciation embrace Bitcoin. The most world’s important economy, China, will lead the way towards greater adoption of Bitcoin by desperate citizens. 2016 will be the year when each major bank „invents” it’s own token to ride on their proprietary distributed ledger system. In the end, nothing will be accomplished accept for a colossal waste of resources with no tangible improvement in the financial system.
Maciej Ziolkowski – author of the first news source about Blockchain and Bitcoin in Poland – www.satoshi.pl
Writing a description for this thing for general audiences is very hard. There’s nothing to relate it to.” – Satoshi Nakamoto
As Satoshi said – it’s not only hard to describe the full potential of Blockchain and Bitcoin to someone who has never heard of it. It’s also very hard to predict the price and the future possibilities of this technology. When I see startups like Augur, Factom or Slock.it – I’m sure that our project and our community – the Bitcoin world will rise. In my humble opinion we should expect around 1000 USD or even 1500 USD per 1 btc.What are the reasons?1) Halving of block reward in July 2016. Less production with high demand equals the rise in the price.2) Smart contracts are here and even VISA, Microsoft and major banks understand it now. Just look on Azure and the lastest reports with „blockchain/ethereum” in the topic. It’s inevitable to use those in 2016-2020.3) The network truly grows – as we see more than 5 milion wallets worldwide, around 1 milion users on various Blockchain forums and with more than 30 interesting digital currencies and dozens of Bitcoin Apps – I’m sure our would has a bright future.
Frank Shull– CEO of Safello– Swedish Bitcoin exchange that operates in 32 countries
Where 2015 was the year that financial institutions embraced the blockchain, 2016 is poised to be the year of the revival of Bitcoin. As the halving takes place mid-year the price volatility in
combination with continued adoption will lead to the insight of financial institutions to at least revisit their stance on Bitcoin. Add to that the advances of the regulators and we may see some fireworks. Whether we truly get a step closer to mass adoption is a tougher question as there seems to be a bit of scare in the financial
markets with the latest quarters showing a decline in Bitcoin investments.
Jakub Rusinowski – Bitcoin promotor and owner of coinformacje.pl
As you can see whole bitcoin infrastructure grow since 2009 when Bitcoin project started. All indicators like daily transactions, hashrates, amounts of nodes, users or even price grow. In 2015 amount of investments into Bitcoin economy was biggest in history and major worlds companies and banks shows interest in that technology. I think that in long term bitcoin based solutions will be new standards in financial world and blockchain will change our point of view on internet and sharing files.
2016 will be very interesting because of price which could hit new all time high, halving in july where prize for now block will be halved and possible financial crisis where people will look for alternative form of investing.
Bitcoin is still really young and not so popular but we can see progress in technology and people thinking about money and security. People realised that they have alternative to keeping their savings virtually and they dont have to trust anyone. Bitcoin is still not ready for mass adoption but Im shure that some day everyone will use that technology.
More and more people realised how it works. Bitcoin is no anymore ”Magic Internet Money” but there’s still a lot of work to do.