Former Goldman Sachs banker Raoul Pal is extremely bullish on the future of Bitcoin. The reason for this is a graph based on which he predicts that Bitcoin will have more than one billion users by the end of 2025. By the year 2030, that number should even increase to 4 billion people.
Faster than the internet?
At the time of writing, we see in the graph above that Bitcoin adoption is faster than internet adoption. Even if we assume that the adoption of Bitcoin will be as rapid as that of the internet in the coming years, we would end up with 4 billion users around 2030, Raoul Pal predicts.
However, the question remains how all this should be done. 4 billion users on Bitcoin’s blockchain seems impossible right now. The technology simply cannot handle that.
Thus, you would expect the emergence of so-called Bitcoin banks within a few years. These should ultimately be the parties that transact with each other on the blockchain, but the general public will trade in the banks’ centralized databases.
Scaling Bitcoin for billions of people
The current ~7 transactions per second that Bitcoin can process is of course never enough to onboard the entire world. Therefore, in the future we will have to rely on centralized intermediaries.
That seems to go against the original ethos of Bitcoin, but that does not alter the fact that you still have a better system than we have now.
With Bitcoin it is possible to ask banks to demonstrate how much BTC they own. They can let customers check for themselves whether their Bitcoin is in the “Proof-of-Reserves”.
Bitcoin therefore makes it more difficult for banks to tamper with people’s savings. In theory, this gives you a more secure system and it is also possible to onboard billions of people and have them use Bitcoin.
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Source: https://newsbit.nl/perfecte-grafiek-voorspelt-adoptie-bitcoin-door-4-miljard-mensen/
