Bitcoin in 2015? Breakthrough or bust?
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December is the month of holiday spirits, looking back on the year, and drinking gluwein. Now don’t worry if you hate gluwein, there is always a choco loco. Yes you read it correctly choco loco. Here is how some people make it, but over here in most bars they just take hot chocolate and throw in some rum and some cream.
Another tradition in this festive month is the “good intentions list for 2015.” In honour of this age old tradition we will do the same for Bitcoin. However, when we look toward 2015, we will make some educated guesses concerning Bitcoin and look at our track record concerning future developments predictions, which were about 98% correct. Regardless, 2015 will be quite an interesting year.
Bitcoin in 2014
2014 was a mixed year for Bitcoin. Interviewees have explained it as such: “We have known the bitterness of defeat and the exultation of triumph in 2014. And from both we have learned, there can be no going back. We must move forward; to the moon”!
Now let’s look at some of the happenings of 2014. I will pick out some important events and developments and groups from the past year and discuss their importance. The first item on the list that I found important was the creation, development, and the eventually publication of the Bitcoin comic. The comic is available in certain brick-and-mortar, shops but you can also order them online; the comic book is available in Spanish and English.
Some of you might think: “Wow a comic. What great importance or contribution does that have to the Bitcoin community?” The first major importance is that this comic bridges the gap between the digital currency community and the general population that have probably heard of Bitcoin but are too scared to get involved in it. This fear stems from some seriously bad reporting and Bitcoin bashing that has been done by the corporate media in the past.
The comic is much more than just a piece of entertainment that will appeal to both the novice Bitcoiners and the more veteran and experienced users in the community. There are also hidden clues and subtle reminders how Bitcoin came to be.
The second Item on my list is the closure of Silk Road(s) and the auctioning of the seized Bitcoin by the United States Marshals. Some readers might frown or be outraged about it but you have to look at the big picture. The corporate media has been portraying every Bitcoin user as a “vile, hideous, drug dealing criminal.” I will not go into the fact that all these “illegal goods” can also be bought on the black market with so called “real money,” but that is an article for another time perhaps. The fact that the US marshals sold parts of their seized Bitcoin treasure is a sign on the wall that change will come, maybe sooner than most will think.
Now the reason I find this important is that this cleaning house of illegal goods is an overall good for society. We do not need more guns and drugs on the streets. Remember the people at these Bitcoin auctions? It is a fairly easy way to buy a lot of Bitcoins without having to risk extra surcharges like the ones that are in place on most BTC exchanges. So the US marshals, aka the US government is allowing for the rich and wealthy to get into Bitcoin for fairly “little” money.
The third and last Item I would like to point out is the recent investment firm that has put its shoulders under “an altcoi” project.” Now, everyone will be thinking: ”This is Bitcoin 2014-2015 so why are you talking about this ‘altcoin?’ It doesn’t have anything to do with Bitcoin!” Again, we must look at the bigger picture. Business people and investment firms do not look at the now but rather at what could work in the future. That a “mainstream” investment firm, which is also active in other sectors like green energy for example, is willing to invest in a “dangerous digital currency adventure,” speaks volumes about what may be coming in 2015.
Another development is that a quite successful company that is involved in retail, security, and the likes is actually looking to streamline and incorporate digital currencies in their business strategies. Both “movements” are a sign on the wall that digital currencies in general and Bitcoin in particular are getting more accepted by the general public. It is also noteworthy that from Belgium to Zimbabwe, or in nearly every country, digital currencies are gaining ground.
What to Expect From Bitcoin in 2015
Now it is time to bring out our speculating Santa and see if he has some insights. The fact that prominent people and banks are more receptive and have an overall positive demeanour toward Bitcoin is quite a revolution in itself. If we look back to last year, around this time, a lot more negativity could be seen.
The fact that some of these prominent people are CEO’s, high-up people in the financial sector, business managers, etc. is a sign that 2015 will be interesting to say the least. Add to that the squeaky sounds from some credit card companies and a fairly aggressive tone from these people shows that something spectacular may happen in 2015. Add to this bowl of interesting developments the fact that the banks are also looking into this digital currency phenomena and Bitcoin in particular, it will be a very interesting year indeed.
People are constantly asking me about the Bitcoin price. “Will it go down? Will it crash and burn? Will it rise again to soaring heights like before and possibly when would that be?” These are all good questions, but most of them will remain unknown. Nevertheless, if we look at the developments, the unofficial reports, the interviews from the past year, and listen to my huge network of contacts inside and outside the major sectors (finance, business, etc), the future will be bright for Bitcoin.
I don’t think the Bitcoin price will go down much further. I also think that we will see a huge spike in the price in 2015, but by how much or when, that is too early to tell. However, we need to be realistic; governments can make or break digital currency, and can influence the overall price by their decisions. So, it is up to us, the digital currency community, to keep the dialog between our community and the government open. That is the only way to move forward and change the government’s conservative stance. Scientia vincere tenebras. Only through educating the governments what Bitcoin is will we succeed. It is our duty as community to do so.
What are your top 3 events of 2014 and why is that according to you? What are your predictions for 2015? Will Bitcoin be a Rising like we haven’t seen before or will it be something like today?