Is having .5 of a BTC going to be enough to retire on in 20 years?

Yes, no AND maybe. Weclome to the multiverse

your timeline is a slow one unless you're predicting the lowest points for each year

I predict the value will reflect the development of the infrastructure for it in becoming a mainstream currency for online commerce (as well offline/in real life commerce) - it may take that long at get there in 2030 , sure, the world is going to be a different place by then lol - also consider competitors , now or in the future, in currency , but right now my money is absolutely on bitcoin for the best future long term investment , hands down

Thanks senpai. I agree. Good to be in a lot of things but BTC is taking us to lamboland.

When banks start printing to buy bitcoin we will be so rich money wont even exist anymore. Less than 15 years for sure.

i would have to say that bitcoin right now safely has hegemony of the cryptocurrency market, its very nice that you have those machines located in accessible places 24hrs a day, that makes it that much more convenient for todays financial consumer to access this market. I believe this will be especially true, especially the value of bitcoin would rise in theory, when it comes to adopting to what i see as new shifting norms in the labor market - the market where everything is in control of the consumer, worker, or user (digital economy, uber, bitcoin, freelance orientated labor economy, workers define their own hours and work, etc.) and right now my money is that this is going to be big in that future economy, that is - in that labor economy, i can foresee it as being a very popular option on payment by employers or independent contractors, but it has to grow there

Btc will always be the hegemon

does this not give bitcoin real value?
the fact that real money is spent on electricity in order to "mint" bitcoins?
the only thing that can bring bitcoin to its knees is by giving the entire world free sustainable electricity.

lol or people just move to better tech cause btc is unusable

but a token created out of nothing has no value, regardless if this token is consumed by the network it powers

bitcoin is consuming itself to sustain itself...
the snake eats its tail..

I don't know about you guys, but BTC is currently 50% of the entire crypto market cap, so it makes sense to me if at least 50% of someones portfolio is BTC

giving the world free sustainable electricity will solve btc's main problem. coins will only be mined until there's 21m past that it will depend upon fees to pay miners. Electricity is going to be their main overhead to free sustainable electricity will see fees hit the lowest ever prices

kek you BTCtards are cute
>best long term investment hands down!!! global mainsteam currency!!!!

>the fact that real money is spent on electricity in order to "mint" bitcoins?
no

does digging a hole in the ground and refilling it 100 times make the newly created hole more valuable than one created with less labor?

Or imagine two factories that produce an identical watch. Factory A is hugely inefficient and employs 1000 people at $1,000,000 a year to sit around doing nothing. Factory B is exactly the same except it doesn't employ these unnecessary people. Is a watch from factory A more valuable than factory B?

contd:

The whole goal of economics is to increase efficiency. Real labor (i.e. man hours and resources) have to go into the electricity used to 'mine' Bitcoin. Besides the energy needed to maintain the integrity of the blockchain this is a colossal waste of resources.

The resources spent generating that electricity - digging coal out the ground, building a factory, man hours spent maintaining the factory - could have been used to build, for example, a hospital or a TV or something that is actually useful.

I'm not some eco freak but it doesn't make sense to trade real labor for a digital currency, given that there are other options. Bitcoin is arguably more efficient than legacy banking systems but there are so many coins out there that are waaaaaaaay more efficient than Bitcoin that do exactly the same thing but better. If BTC can't get its shit together (and it won't, autists are stubborn) sooner or later it's going to get superseded by more efficient tech.

Keep coping, guy who missed out on buying btc when it was cheap

>The resources spent generating that electricity - digging coal out the ground, building a factory, man hours spent maintaining the factory - could have been used to build, for example, a hospital or a TV or something that is actually useful.

You know btc is gonna always be king when people bring this up as the best argument against it lmao

well why not increast the difficulty 10000x then? Surely that will make it worth 10000x more

everyone will already be cashed out into real money they can actually spend by then

so no

Yeah the difficulty goes up as the hashing power goes up, and more miners can only mean more hashing power..
Therefore, higher difficulty AND higher power consumption .

You yourself said that "Real labor" goes into producing electricity, the same way real electricity is used to create bitcoin, thus giving bitcoin real value, derived from electricity consumed to maintain the network and bring new coins into existence.

am i missing something here ?

But just because you spend money/resources on something doesn't mean it's valuable

Leaving your hoover plugged in all day doing nothing doesn't give you any real value. If you leave your taps on all day and the water company bills you $5 for it, doesn't mean you've got $5 of value

How dumb are you? Definitely a nocoiner

I can already anticipate your reply with the water example. Value, as I've used it here, is not monetary value. In an economy it's possible for resources to be wasted - to just disappear into the ether. That's what I mean with the water example. You might get $5 worth of water, but that water hasn't been used for anything and you still have to pay for it. This is exactly what Bitcoin is doing - consuming electricity pointlessly. The resources used to create that electricity are effectively disappearing into the ether, even though the price of Bitcoin goes up.

It's only going to go on for so long before someone goes 'enough is enough' and either:
1. Switches over to an alternative that doesn't consume as much resources
2. BTC devs reach a consensus and implement a more efficient mining system. But given that they can't even agree on Segwit and all this other stuff I doubt they'll be able to agree on a solution before (1) happens

I hold BTC by the way but I hate it and am slowly selling it off