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.

Images from Wikipedia & CoinMarketCap.com.

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  • Paul Padilla

    I love bitcoin but having followed Andreas for so many years and looking at this digital currency for so long it fails as a “store of value” which is needed to be somewhat money. This is quite evident by the nature of merchant’s behavior when they receive bitcoin. Almost all of them convert back to paper fiat. When you see this behavior by almost every merchant, one would conclude that it has NO “store of value”. The best way to describe the scenario is like using securities in the form of a stock, etf, mutual funds and buying things with it online. One would argue that market cap is not high enough that’s why you have volatility in price. That is a possibility but I’m not buying it. It’s hard for anyone to use currency that has a speculative value associated with it.

    I think crypto currency would work much better if speculative pricing wasn’t in the equation. If it were designed as a payment system and not labeled as traditional currency as we know it. It should be categorized as a TOKEN and not currency. Giving it a category as a TOKEN would make it more apparent that it is acting on something’s behalf which would be a currency. The crypto token can be pegged to any currency of ones choice then I can see merchants holding the crypto token.

    To basically put it… create a digital “medium of exchange” for the “medium of exchange” which is fiat. Isn’t that why we created money to begin with… a medium of exchange?

    • Quinn

      Valid points but don’t sell it down the river just yet. There are solutions to these problems that will surface when they need to. It’s all growing and evolving. I think many people don’t realize (or maybe they do?) that bitcoin is rapidly evolving and advancing before the users fully grasp its potential, so we see problems based on habit and familiarity with fiat and try erroneously to make bitcoin mold into a fiat paradigm. It’s not going to.

      Maybe the solution isn’t to change bitcoin to behave more like fiat so we can trust it, but to instead change our ways of doing money and adapt to something entirely new, even something that fluctuates in value.

      • Paul Padilla

        You can’t really expect a “medium of exchange” to have risk associated with it… that’s what the stock market and las vegas is for. I am a software developer and have used bitcoin’s API. Bitcoin really doesn’t have the foundation to evolve to non-speculative currency.

        I believe that crypto is the future and it will evolve and sometimes evolving doesn’t mean evolving bitcoin but rather evolving crypto currency. I don’t think bitcoin is the future. There will be much better crypto that will solve all these problems and bitcoin is too far down the rabbit hole to fix itself. It will have to do a complete reboot.

        • Jonjon Taka

          It’s hard to predict the future and how bitcoin will evolve. Markets are self correcting and eventually reach equilibrium. Until then there will be a lot of up and downs, speculations, manipulation, businesses that go down, entire industries destroyed, new companies and services that take the world by storm… etc.

          I wouldn’t say it’s a matter of rebooting bitcoin or creating “much better crypto”. It’s a matter of accepting the current reality of instability, constant change, unpredictability, and risk. Whenever a disruptive technology comes along, there will be those who would like to contain it, to control it, to replace it or to dismiss it, so it fits their expectations of how the world should be: Predictable, safe, stagnant.

          • Paul Padilla

            You missed my whole point. Money has to be a “store of value”. You can’t have money made of a roulette wheel because that’s exactly what bitcoin is. No merchant will hold it which has already been proven. Have you ever heard of Aristotle or have any basic economic background? There are other crypto that are leaning towards the direction of categorizing crypto as tokens rather than currency but they don’t have the deep talented developers as they do with bitcoin. It’s hard to guess which is going to be left standing in the end.

          • Jonjon Taka

            I didn’t miss your point. But your point is rooted in the here and now. So it’s not a point unless you have zero historical perspective on markets and currencies. Money is never a store of value. A store of value is property/assets that don’t get devalued with time. As it stands, bitcoin holds a much better chance to be an actual store of value for those who hold it long enough. Only time will tell if it’s an undervalued asset, but where VCs put their money, it also dictates where the world is going. What could disrupt bitcoin and crypto based technology would be a mathematical breakthrough in prime number theory… When it happens, and surely it will, one can only hope they’ll already be dead.

          • Paul Padilla

            “Money is never a store of value”? Dear lord. That statement doesn’t deserve a conversation since you are handicapped with half or no brain at all. You realize that you’re on the Internet and your post is seen all over the world right? You better do some homework and quite possibly save some embarrassment and delete your last post to redeem yourself.

          • Jonjon Taka

            You’re right, it is a store of value if you think in the here and now. Otherwise money loses its value over time. How much was a dollar worth 50 years ago? As for the nature of bicoin, it’s deflationary by design, at least up to a certain point.

            Now this is off topic but I recommend you read “Non violent communication”. You might learn that there’s not need to be on the defensive/offensive and insult people when their opinion differs from yours. You might also start to learn things from people.

          • Paul Padilla

            You’re right… I should have tone it down. I apologize. Money does lose it’s ABSOLUTE value but not it’s RELATIVE value. Sure gas is 2 dollars a gallon now but our wages went up too relatively speaking. Money holds it’s RELATIVE value which is the only thing that counts.

            When bitcoin or any form of securities go up and down that is not a store of value. “Medium of Exchange” is really the real topic here and bitcoin is really not a medium of exchange. Again that is why money was invented.

          • Jonjon Taka

            Thanks I always appreciate people who are not adversed to apologies. Likewise sorry for my condescending rebuttal.

            As for bitcoins, I differ in my opinion and think it’s growing into an ubiquitous medium of exchange, and until it’s more stable, it will mostly serve as a protocol to send funds securely across borders and convert them in your currency, at little or no cost to the sender and recipient.

        • SEAN THOMAS

          Part of the problem with “currency” is that you incur the risk of being involved in a fractional reserve bank as well as a government assigned value. Fiat money is really nothing more than tax credits, and a bank deposit is nothing more than an unsecured loan to you local bank. Of course, the funds are insured by the federal government. Bitcoin is young, and it has immense (though shadowy) backing.

  • Could not agree more. This currency can change the globe for the better, not just the United States, China, Finland Or Australia. These digital coins can give access to people who have no access to there nations currency. Once that access is attained, then more and more people can innovate ideas that will stimulate communities and there nations currency respectively.