This is pure fantasy on my behalf but here are my + and - scenarios:
Worst case: that there is a 51% type takeover and iit vecomes controlled by a central group
Best case: after many years of governments trying to ban bitcoin and high profile people trying
to drive the value down, all efforts are abandoned after realising how futile it was. Bitcoin adoption
soars with new users and traders for buying and selling goods and services. New earning opportunities
are created for bitcoin and other crypto.
Topic: Best and Worst Case Scenario for Bitcoin - page 4. (Read 1192 times)
I also agree with you that about bitcoin status up to today many countries try to ban bitcoin while others receive bitcoin what is no solution for countries that do not accept bitcoin? while bitcoin users are almost comprehensive in all countries, please solve it?
The second one i think is more likely to happen, Worldwide adoption is now fast approaching, more and more countires and internaional companies are now adopting bitcoin.
Your conclusion about the worst case and the best case with your bitcoin, the worst thing for me is when bitcoin is not accepted in all countries and must be blocked in all countries of the world, and the best scenario is when bitcoin is used for everyone in the world that makes government automatically making bitcoin legal if it happens, it can destroy the economy of many people.
Guys yesterday had a conversation with a friend and we found ourselves discussing this issue: What is the best and worst case scenario for Bitcoin?
From the conversation it emerged (this is not from using bitcoin as investment vehicle) purely by assuming we understood the objectives of Satoshi lol! would be:
Worst case scenario: It is overtaken by govt cartels and it becomes another type of gold just a store of value with huge transaction fees, also it finds a stable price which does not augur well with "investors" and thus the perceived bitcoin bubble maybe a price of $3000 maybe not a pessimistic though
Best case scenario: Bitcoin lives to serve its purpose of being the internet currency with global adoption of-course "rekting" government and other central capitalistic entities. In a nutshell promoting financial inclusion worldwide.
Those are just thoughts of guys who were having a beer and maybe we thought too much but anyways members can contribute hoping to be roasted as well for my bitcoin newbie thoughts
From the conversation it emerged (this is not from using bitcoin as investment vehicle) purely by assuming we understood the objectives of Satoshi lol! would be:
Worst case scenario: It is overtaken by govt cartels and it becomes another type of gold just a store of value with huge transaction fees, also it finds a stable price which does not augur well with "investors" and thus the perceived bitcoin bubble maybe a price of $3000 maybe not a pessimistic though
Best case scenario: Bitcoin lives to serve its purpose of being the internet currency with global adoption of-course "rekting" government and other central capitalistic entities. In a nutshell promoting financial inclusion worldwide.
Those are just thoughts of guys who were having a beer and maybe we thought too much but anyways members can contribute hoping to be roasted as well for my bitcoin newbie thoughts
For me the best and worst scenario for bitcoin is that the price of it. It is best when the price of it increase to its high price and worst when the price of it drops to 0. You need to wait for a long time so that the worst scenario will be best.
Guys yesterday had a conversation with a friend and we found ourselves discussing this issue: What is the best and worst case scenario for Bitcoin?
From the conversation it emerged (this is not from using bitcoin as investment vehicle) purely by assuming we understood the objectives of Satoshi lol! would be:
Worst case scenario: It is overtaken by govt cartels and it becomes another type of gold just a store of value with huge transaction fees, also it finds a stable price which does not augur well with "investors" and thus the perceived bitcoin bubble maybe a price of $3000 maybe not a pessimistic though
Best case scenario: Bitcoin lives to serve its purpose of being the internet currency with global adoption of-course "rekting" government and other central capitalistic entities. In a nutshell promoting financial inclusion worldwide.
Those are just thoughts of guys who were having a beer and maybe we thought too much but anyways members can contribute hoping to be roasted as well for my bitcoin newbie thoughts
From the conversation it emerged (this is not from using bitcoin as investment vehicle) purely by assuming we understood the objectives of Satoshi lol! would be:
Worst case scenario: It is overtaken by govt cartels and it becomes another type of gold just a store of value with huge transaction fees, also it finds a stable price which does not augur well with "investors" and thus the perceived bitcoin bubble maybe a price of $3000 maybe not a pessimistic though
Best case scenario: Bitcoin lives to serve its purpose of being the internet currency with global adoption of-course "rekting" government and other central capitalistic entities. In a nutshell promoting financial inclusion worldwide.
Those are just thoughts of guys who were having a beer and maybe we thought too much but anyways members can contribute hoping to be roasted as well for my bitcoin newbie thoughts
We are not quite sure what may be the possible and impossible scenario for bitcoin. We are all aware that it is more of an unpredictable series pf scenario which is sometimes not being repeated. Therefore, with regard to this, a lot of manipulation to hold and control bitcoin are being imposed to allow bitcoin controlling or even governed. This, for me, could possibly be the worst scenario the bitcoin economy could manage to encounter so far.
Best case scenario: Bitcoin lives to serve its purpose of being the internet currency with global adoption of-course "rekting" government and other central capitalistic entities. In a nutshell, promoting financial inclusion worldwide.
I prefer this scenario, and I hope it might happen, but there are some doubts and lots of questions.One of the most important questions is where did 17 million Bitcoin go? Who controls it? How the government will allow individuals to produce their currencies.
I do not expect any government to have a reserve of Bitcoin, so it will always be out of control. expect the contracts and platforms of bitcoin trading to be accepted more fancifully than the real acceptance of Bitcoin, where governments can break the 21 million coins indirectly
The problem is, no-one can control Bitcoin, maybe they can buy/mine a huge amount of Bitcoin - but they cant control it.
Control is not something you can actually do with bitcoin, it will mean you have to shutdown the internet, that is why i believe the worst case scenario for bitcoin is if anyone can maliciously exploit the bitcoin protocol
I do not think the worst case scenario for bitcoin is government taking over bitcoin, that wont be so much evil nor is it possible, the worst case scenario is actaully finding vulnerability in the bitcoin code, that is easily exploited, e.g making several copies
No one can control bitcoin event not government also. Peoples are transaction their coin but they don't know who is his transaction partner. Investors only aim to earn money from this sector.
Bitcoin is a new technology of currency it’s not handle by government but sometimes it’s manipulate by some party. And I hope this kind of issue will be developed by BTC ETF gradually.
I think youth always have the ability to adopt new technology and crypto is a new currency in the world. If youth’s of many country adopt this currency that effectively bright the cryptocurrency.
Thank you for your input guys and time. Let's wait and see how it spurns but for sure bitcoin a'int dying at all. By "rekting govt" I meant it disrupting governments and taking away the monetary power from the govt to the people through decentralized system involved in Bitcoin. One thing for sure it is going to be interesting as more people agree to use Bitcoin
Yeah and that's what might take it to the next level, as more people agree to use it and are sick and tired of getting ripped off by their lying governments, it might breakthrough to the mainstream. The problem is that too many people still get their information from government controlled news sources, so they don't have their own conclusions about bitcoin.
If the government did win, I don't think it'd be through bitcoin itself. It'd be through implementing their own alternative to it and shifting people over to that by violent price manipulations of bitcoin. Once enough people have lost out to hacks, crashes and busts, they might change their minds.
Thank you for your input guys and time. Let's wait and see how it spurns but for sure bitcoin a'int dying at all. By "rekting govt" I meant it disrupting governments and taking away the monetary power from the govt to the people through decentralized system involved in Bitcoin. One thing for sure it is going to be interesting as more people agree to use Bitcoin
Experts say that Bitcoin and other currencies are not monetary, yet have the significant impact on the global economy and are completely manageable.
I go more on the second option.
is more likely to happen
about this option " Worst case scenario: ":
What do you mean? Do you mean governments took control of bitcoin?
I know its impossible for governments to control bitcoin. However, meant they can pump their money into the bitcoin economy making it's price unbearable for low rate transaction. Or is there a way this can be overtaken ?
Best case scenario: Bitcoin lives to serve its purpose of being the internet currency with global adoption of-course "rekting" government and other central capitalistic entities. In a nutshell promoting financial inclusion worldwide.
Those are just thoughts of guys who were having a beer and maybe we thought too much but anyways members can contribute hoping to be roasted as well for my bitcoin newbie thoughts
Those are just thoughts of guys who were having a beer and maybe we thought too much but anyways members can contribute hoping to be roasted as well for my bitcoin newbie thoughts
is more likely to happen
Worst case scenario: It is overtaken by govt cartels and it becomes another type of gold just a store of value with huge transaction fees, also it finds a stable price which does not augur well with "investors" and thus the perceived bitcoin bubble maybe a price of $3000 maybe not a pessimistic though
about this option " Worst case scenario: ":
It is overtaken by govt cartels
What do you mean? Do you mean governments took control of bitcoin?
I know its impossible for governments to control bitcoin. However, meant they can pump their money into the bitcoin economy making it's price unbearable for low rate transaction. Or is there a way this can be overtaken ?
I'm agree with you with your conclusion about the worst case and the best case with your bitcoin, the worst thing for me is when the bitcoin is not accepted in all country and should block in all country in the world, and the best scenario is when the bitcoin is used for all people in the world that makes government automatically makes a bitcoin legal
Worst case scenario: It is overtaken by govt cartels and it becomes another type of gold just a store of value with huge transaction fees, also it finds a stable price which does not augur well with "investors" and thus the perceived bitcoin bubble maybe a price of $3000 maybe not a pessimistic though
if this happens then bitcoin will simply die. bitcoin exists and is strong because it is decentralized and it is a currency. otherwise a "store of value" or a "investment" is meaningless on their own and can not keep something like bitcoin alive.remember we are not talking about some closed source thing that nobody knows how to work. bitcoin is completely open source and the technology is out there. if bitcoin were to become centralized everyone would simply move to another decentralized new system.
Quote
Best case scenario: Bitcoin lives to serve its purpose of being the internet currency with global adoption of-course "rekting" government and other central capitalistic entities. In a nutshell promoting financial inclusion worldwide.
i'd like to think the best case scenario doesn't involve "rekting" anything. bitcoin can still exist and be strong and even be worth $1 million+ and not replace or ... anything else. it can exist as an additional option for those who want the benefit of a decentralized currency, or for those countries with corrupted government.
Worst case scenario: It is overtaken by govt cartels and it becomes another type of gold just a store of value with huge transaction fees, also it finds a stable price which does not augur well with "investors" and thus the perceived bitcoin bubble maybe a price of $3000 maybe not a pessimistic though
if this happens then bitcoin will simply die. bitcoin exists and is strong because it is decentralized and it is a currency. otherwise a "store of value" or a "investment" is meaningless on their own and can not keep something like bitcoin alive.remember we are not talking about some closed source thing that nobody knows how to work. bitcoin is completely open source and the technology is out there. if bitcoin were to become centralized everyone would simply move to another decentralized new system.
Quote
Best case scenario: Bitcoin lives to serve its purpose of being the internet currency with global adoption of-course "rekting" government and other central capitalistic entities. In a nutshell promoting financial inclusion worldwide.
i'd like to think the best case scenario doesn't involve "rekting" anything. bitcoin can still exist and be strong and even be worth $1 million+ and not replace or ... anything else. it can exist as an additional option for those who want the benefit of a decentralized currency, or for those countries with corrupted government.
We all want the best case scenario. It’s hard to control bitcoin because it’s anonymous. Maybe the government can impose some regulations as to how bitcoin can be traded and used. That way, there would be less laundering and drug trafficking. Besides, it is always possible to track where the money is going since it’s transparent.
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