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Andreas Antonopoulos: Bitcoin Needs Two Years

Avatar Yashu Gola 5 years ago

Andreas Antonopoulos believes Bitcoin will touch new peaks within the next two years.

While speaking to an audience regarding Bitcoin’s falling value, the celebrated Bitcoin activist stressed that there has been $500 million worth of investment received by this sector during the same bearish year for the bitcoin price.  He particularly pointed out two technologies — multisig and hierarchal deterministic (HD) wallets — that proved their spunk in the real world and brought immense profits for their respective launchers.

“Give us two years,” Antonopoulos stated while predicting same outcomes from the presently  immature Bitcoin technologies. “Now what happens when you throw 500 companies and 10,000 developers at the problem? Give [it] two years and you will see some pretty amazing things in bitcoin.”

He went on speaking about a near-distant future with open decentralized systems, the ingredients of which are innovative and free from any kind of monopoly. “Put that against a closed system,” he added, “controlled by a central provider, whose permission you need in order to innovate and who will only innovate at the exclusion and competition of all of the other companies — and we will crush them.”

From what we could gather, the man simply tried to show Bitcoin enthusiasts a silver lining which, at some point, ended up solidifying as a two-year deadline.

Will Technological Improvements Push Bitcoin Value North?

bitcoin chart

In times when people are still debating on Bitcoin’s true value, there is a very little scope for technology to play a babysitter of a widely awaited bullish rally. The cryptocurrency has undoubtedly escaped from its over-hyped territory but at the same time has turned into a victim of corrupt trading practices. No matter how much we try to avoid it, Bitcoin is still known by its value while its other advantages simply takes the backseat.

As times move forward, Bitcoin will be needed to grow as a whole —  currency, network, technology, etc. Maybe then we can expect a correlation between Bitcoin’s success as a technology and as a value preserver — until then, let’s just wait.

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Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN...

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