Shock survey suggests most investors think Bitcoin won’t top $50K by 2030

Shock survey suggests most investors think Bitcoin won’t top $50K by 2030

A survey from Genesis Mining has found that most Bitcoin investors aren’t expecting a $50,000 BTC price in 2030 — although 3.5% of respondents tipped prices exceeding $500,000.

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British Virgin Islands-based institutional mining platform, Genesis Mining, has published the findings from a survey of 1,000 current and former U.S.-based Bitcoin investors — two-thirds of whom believe BTC is a better long-term store of value than the dollar.

More than half of respondents believe Bitcoin will beat out gold, real estate, and the stock market over the five to 10 years, with 65% expressing faith that BTC’s value will continue to appreciate with time.

The bear case

But despite the apparently favorable sentiment, just 17% of those surveyed predicted that Bitcoin’s price would exceed $50,000 by 2030. This would only require the price to increase by 160% over the next 10 years, while BTC has already gained 166.5% during 2020 so far.

A further 17% predicted that Bitcoin’s price would actually fall over the next decade, while one sixth of respondents did not feel confident in speculating on BTC’s long-term price performance.

In total 50.1% of respondents estimated that BTC will be worth $20,000 or less by 2030, one third predicted the price will be $10,000 or less, and 11.8% forecasted prices below $1,001.

Almost one-third of respondents who predict a stagnate or bearish 10-year performance expect Bitcoin to be hindered by regulations, while one fifth anticipate outright bans on cryptocurrency from governments.

Roughly 17% of non-bullish respondents expect another cryptocurrency or a central-bank issued digital currency will capture a dominant market share and supersede BTC, while 16% predict Bitcoin’s historical meteoric hype-cycles will die down over time. Nearly 10% of participants do not believe “there is going to be a practical use case” for Bitcoin in future.

The bull case

On the bullish end of the spectrum, one-tenth tipped Bitcoin would be worth six-figures or more in a decade, with half of them expecting prices exceeding $500,000. 

Almost 30% of bullish respondents believe Bitcoin adoption will be driven by declining trust in fiat currencies, with 25.8% anticipating “a major economic depression” will spark widespread adoption. More than half of respondents believe, “Bitcoin adoption has much room for growth” regardless of political forces external to crypto.

Who was surveyed

The survey had a good mix of investors, with one quarter allocating more than half their wealth to virtual currency investments, one quarter had crypto exposure of between 10% to 50%, another quarter had between 1% and 10% in crypto, while the rest had 1% or less of their wealth currently in virtual currency.

A recent survey from fund manager Grayscale Investments found that the COVID-19 pandemic had a positive impact on Bitcoin sentiment, with 39% of respondents describing BTC as “more appealing” amid the pandemic.

Last month, a survey of 700 high-net-worth individuals published by deVere Group found that 73% of millionaires either already own or are planning to invest in crypto assets by 2023.


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A survey from Genesis Mining has found that most Bitcoin investors aren’t expecting a $50,000 BTC price in 2030 — although 3.5% of respondents tipped prices exceeding $500,000.

BTC and LTC Halving ‘Shock’ May Be Mitigated by Merged Mining: Report

BTC and LTC Halving ‘Shock’ May Be Mitigated by Merged Mining: Report

Halvings of block rewards for BTC and LTC mining could be mitigated by merged mining: new report by Binance Research

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The effect of block reward halvings for both Bitcoin (BTC) and Litecoin (BTC) mining could be mitigated by merged mining, according to a report by a research arm of major crypto exchange Binance released on July 12.

Following Charlie Lee’s prediction that some miners may shut down Litecoin mining after the halving, which is expected to take place on Aug. 5, 2019, Binance Research analyzed the potential of so-called merged mining to retain incentives for crypto miners.

Merged mining is a practice of using the work done for one blockchain, or parent blockchain, on other smaller child blockchains by implementing Auxiliary Proof of Work (AuxPoW). To date, there are three major examples of merged mining, including Bitcoin blockchain-parented Namecoin (NMC), Litecoin-merged Dogecoin (DOGE), and Myriadcoin (XMY) which is merged with both LTC and BTC.

In the new report, Binance Research concluded that merged mining could “potentially provide and opportunity” to increase mining rewards in the light of future block reward halving scheduled for both Litecoin and Bitcoin. Alongside, other smaller chains could also potentially move to AuxPoW in order to support a higher level of network security while reducing the need for a separate mining set, the firm added.

At the same time, Binance Research warned about the potential shortcomings of merged mining from both a miner’s and a project team’s perspectives. Miners may not be incentivized to support child blockchains due to a significant level of operations costs as well as a potential decline in the given coin’s market price.

From the perspective of a project team working on a PoW crypto-asset, risks include dependency on the parent blockchain and new potential attack vectors.

In the report, Binance Research also considered Dogecoin, which has been operating for about six years to date, as the most successful example of merged mining. After Dogecoin adopted the merged mining model in August 2014, the coin’s mining hashrate increased by 1,500% while also showing correlation with Litecoin’s hash rate. According to the report, almost 90% of Dogecoin’s total hash rate derives from large Litecoin mining pools as of July 2019.

On July 5, Binance exchange listed Dogecoin on its crypto trading platform. On the same day, the exchange released its “2019 Q2 Crypto-Correlations Review,” stating that Dogecoin has become less correlated with other cryptos in Q2 2019, alongside with Bitcoin. However, the coin has continued to be significantly correlated with Litecoin, mostly due to the shared mining of two coins, the firm wrote.

On July 9, mining difficulty of bitcoin has reached a new all-time high by hitting a 9.06 trillion at an average hash rate of 64.85 quintillions per second (EH/s).


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Halvings of block rewards for BTC and LTC mining could be mitigated by merged mining: new report by Binance Research