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Bitcoin to 500k by 2030

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  • Bitcoin to 500k by 2030

    Though not a new thesis that Bitcoin price could rise drastically - up to $500,000 in the next 13 years according to the first investor in Snapchat - based on what comes out of developing countries, an analysis of some figures and trends as they relate to Africa comes to mind.

    Jeremy Liew and Blockchain Co-Founder Peter Smith hinged their outlook for an increased interest in Bitcoin on remittance, uncertainty and mobile penetration. These factors, especially remittance, have much to do with Africa, whose composition of developing countries have what will strengthen the rise and use of Bitcoin for several financial purposes in the coming years.

    $4 bln a year
    Remittance is gradually becoming a major boost for Bitcoin use in Africa - as well as in parts of Asia and Latin America. The advent of new services that use the digital currency for the purpose of sending money from one point to another has started eating into the roughly $4 bln per year cost that banks and other institutions make from international transfers to Africa.

    As earlier reported, many countries in this region - and in Asia - have the most expensive transfer rates in the world as well as bureaucratic processes that make sending and receiving money to and from loved ones a little difficult. This is a major reason why the promotion of the ease of use that Bitcoin brings is essential.

    19 percent remittance charge
    Bitwala, for example, notes that transferring money to South East Asia is cheaper than it is to Africa where banks and intermediaries charge high fees and manipulate currency rates to their advantage. The majority of banks charge between 10-19 percent on any transfers to, from and within African countries.

    The payment service provider points to a leaked document from Santander, a major Spanish banking group, as confirming the dangers of using banks.

    "In 2016, the bank made €585 mln solely from international money transfers, making up 10 percent of all of its revenue, it says. In addition to transfer fees, the bank also made another killing by controlling its foreign currency exchange which helped it earn €290 mln."

    Perhaps the most shocking part is that 80 percent of all global money transfers are still conducted via banks and conventional monetary transfer channels.

    Bitwala adds that the number of signups from developing countries on its platform is almost as those in the US and the EU in total - developing countries forming approximately 30 percent of its new signups globally. Bitwala recently launched into Africa to compete for market share with other companies like BitPesa, BITSSA and Luno.

    Africa boasts some of the top developing markets in the world presently. This is the main reason why the continent’s market of over a billion people stands a chance to be at the center of a share struggle in a couple of years.

    Youngest population
    Africa has the youngest population in the world - about a quarter of a billion people aged 15 to 29 in Africa as of 2010. Current trend indicates that this figure will double by 2045, according to the 2012 African Economic Outlook report prepared by experts from the African Development Bank (AfDB), the UN Development Programme (UNDP), the UN Economic Commission for Africa (ECA) and the industrialized countries’ Organization for Economic Cooperation and Development (OECD), among others.

    Fast forward to 2017, the October 2016 IMF’s World Economic Outlook shows that 12 of the top 25 world’s fastest-growing economies are in Africa.

    These countries, according to the outlook, will continue their growth into 2019 where the latest forecast stops. The growing Internet connection rate, particularly in Africa, will also add to the increasing interest in Bitcoin.

    Most of the emerging figures from Africa apply in the LATAM region where a series of events are now being put together to widen the understanding of the burgeoning economy and how to enhance access to income easily, cutting down costs and not necessarily relying on the use of a physical structure.

    "A key barrier to the projected rise, however, is not its untapped market potentials or for the infrastructures. Rather, it is the lack of awareness."



    https://cointelegraph.com/news/bitco...can-projection

  • #2
    I bet....

    Comment


    • #3
      Originally posted by Turbo3000 View Post
      I bet....
      OK bro. 21 million bitcoins ever in existence and a population of 7 billion plus people if it becomes a reserve currency like gold then you can bet your ass it will be huge. If you value it in terms of scarcity like gold the price was calculated at 5 million dollars a piece. It's better than gold which is why it was already priced higher than one ounce of gold earlier this year.

      Bitcoin is faster and cheaper than bank wire transfers that alone is huge.

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      • #4
        "if it becomes a reserve currency" lol

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        • #5
          Originally posted by TrapsBrah View Post
          OK bro. 21 million bitcoins ever in existence and a population of 7 billion plus people if it becomes a reserve currency like gold then you can bet your ass it will be huge. If you value it in terms of scarcity like gold the price was calculated at 5 million dollars a piece. It's better than gold which is why it was already priced higher than one ounce of gold earlier this year.

          Bitcoin is faster and cheaper than bank wire transfers that alone is huge.
          Reserve currency? Please don't hold your breath on that happening.

          Bitcoin may be faster and cheaper, but do you really think the banking industry is going to even let bitcoin get a good foot in the door?

          Comment


          • #6
            Only a matter of time turbo. It's still in an infancy stage a lot of people haven't even heard about it yet. Ask the average person they have no clue it's not fully mainstream and the price is currently $1200+ a piece.


            Bitcoin value rises over $1 billion as Japan, Russia move to legitimize cryptocurrency
            Bitcoin price has risen over 8 percent in the last week
            Japan passed a law to accept bitcoin as a legal payment method
            Russia is reportedly looking into ways to regulate bitcoin

            http://www.cnbc.com/amp/2017/04/12/b...egulation.html
            Last edited by TrapsBrah; 04-19-17, 06:17 PM.

            Comment


            • #7
              Originally posted by TrapsBrah View Post
              Only a matter of time turbo. It's still in an infancy stage a lot of people haven't even heard about it yet. Ask the average person they have no clue it's not fully mainstream and the price is currently $1200+ a piece.


              Bitcoin value rises over $1 billion as Japan, Russia move to legitimize cryptocurrency
              Bitcoin price has risen over 8 percent in the last week
              Japan passed a law to accept bitcoin as a legal payment method
              Russia is reportedly looking into ways to regulate bitcoin

              http://www.cnbc.com/amp/2017/04/12/b...egulation.html
              Shut up fatass.

              Comment


              • #8
                Originally posted by Bouncer View Post
                Shut up fatass.
                OK well see about that b.
                Attached Files

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                • #9
                  Yea that'll do it. Lol

                  Like Genova with the hemoiroid cream

                  Comment


                  • #10
                    Originally posted by Bouncer View Post
                    Yea that'll do it. Lol

                    Like Genova with the hemoiroid cream
                    I was gonna call bullshit too if it weren't for this study.

                    Topical fat reduction from the waist - Caruso - 2006 - Diabetes, Obesity and Metabolism - Wiley Online Library

                    Comment


                    • #11
                      Originally posted by TrapsBrah View Post
                      How consistent are you with your diet?

                      Comment


                      • #12
                        Originally posted by Bouncer View Post
                        How consistent are you with your diet?
                        Lately it's been better I've been on keto the past few days. Basically eating eggs, cheese, avocados, coconut oil, peanut butter, etc. I'm gonna see how I react to keto I might throw a carb up one day a week. If I get flat on keto I'll just up the carbs. My buddy stays full on keto somehow so I'll see how my body reacts

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                        • #13
                          But how consistent are you. Do you stick to your shit daily. EOD? 3 times a week?

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                          • #14
                            Originally posted by Bouncer View Post
                            But how consistent are you. Do you stick to your shit daily. EOD? 3 times a week?
                            Daily now. Diet is hardest part ask mr. I

                            Comment


                            • #15
                              Daily now and how long has it been like that?

                              If not the long why not allow the diet to work instead of using all that other crap.

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