Topic: Biggest threat to the future of Bitcoin? - page 3. (Read 1945 times)

People saying bitcoin will be dead is worry about future of bitcoin. As the raise of altcoins will washout the bitcoin in future. Example, Eth price is rising faster than bitcoin. Bitcoin takes more than 5 years to see the current value now but eth has much better growth than btc.

I think one of the biggest threats is Government regulation, because without government support the bitcoin will continue to run in place. Bitcoin will be difficult to develop and may be left behind its users. But when the government supports bitcoin I'm sure bitcoin will be a calculated commodity, bitcoin can be one of the financial elements in the world. And everything can change for the better than it is today.

in addition to all that, the only other thing that can hurt bitcoin the most is its users in my opinion.
mostly the users who don't understand bitcoin at all. they see it as a plaything to make money only and make it fast. they have weird expectations from bitcoin and when they are not met they start thinking it is dead.
and one more thing is many who have started calling bitcoin just as an store of value. and this will haunt us in the long term if more people stop wanting bitcoin as it should be (a currency) and want it only as an store of value.

There is also the human factor of "hubris". There are some that are thinking Bitcoin is already too big to fail and all the time and work put in to it has given it a position that it is secure enough that it can be hard forked away from Core. It takes only the brilliant minds to maintain and keep Bitcoin going, and Core has done a good job so far. Taking it away from them for a new set of incompetent developers, like BU, will break it. 

Cryptographic systems can fail, and some (of the past) have already proven to be insecure like SHA-1. AIs or deep learning sytems can probably help to discover these vulnerabilities.


Totally. Take a cryptocoin that can be scaled to the factor 100 or even 1000 respect to Bitcoin without risking decentralization (no segwit war), consuming much less energy and is more stable (Hint: There are already some projects that try that, but no one has proven that it works for the long term).


One thing I can imagine is an AI-based system that controls the economy and human needs and uses advanced incentives to "guide" humans to make the economy/world better. This system would also be used for "monetary transactions". Other possibility is that we don't need money at all anymore.

I believe it is right, because even if they use the most drastic measure and "turn off" the Internet, there are alternatives like mesh networks that could be used. A government would need a "Big brother" state to forbid that.

Chain splits (!==forks) are very troublesome for all people that use cryptocurrencies for other things than simple speculation. Imagine you use Bitcoin to transfer money between country A and country B and one day, all exchanges on country A are on a chain and all exchanges of country B are on the other chain. So chain splits should be avoided.


It can be a problem if there are alternative coins that deliver exact the same service (transactions in an advanced currency ecosystem) for a lower cost. But be warned, most altcoins of today are not capable of that in a sustainable way, they're only cheap because they have almost no usage.

Theoretically it's possible to crack any security system as technology is infinity. Hackers upgrade their skills and systems, so the security defense must be upgrade too, always, to prevent the enemy technology be more advanced.

If a new currency brings more features that people like, there is a high chance to have BTC replaced, but it takes time to happen and until now, Bitcoin rules, there isn't any AltCoin with real chances to replace BTC (at this moment).

I can't imagine any kind of currency or asset being created outside of Crypto-Currency world now. Crypto-Currency is becoming the trend of the world, until something new appears, the Crypto trend must finish first.

Even governments try stopping Bitcoin they can't, because people will use it on the "illegality", they will take the risks and continue using ad it's much more convenient than fiat. BTC is decentralized and pseudo anonymous, it's not so easy to stop.

I hope there isn't any hardfork.

Fees are expensive for me, nobody likes to waste money with fees and if it could be cheaper, would be amazing!

Obviously there a lot of ways to answer this question but I want some smart views on what could legitimately hurt the future of Bitcoin or cryptos in general.

Technology:
-I am not a computer coder but could someone explain to me yes or no, is it possibly for a future technology like an advanced AI to crack the code for private keys in the future?
-Couldn't there also be a new form of crypto maybe ether, or maybe something more advanced to overtake Bitcoin at the top spot? It seems like there is still room for the decentralization of everything coin or something similar to be developed with characteristics that outshine everything on the market today. 
-Or could something be developed outside of the crypto universe that makes this technology obsolete?

Government regulation:
-I am not as concerned about this topic due to the inability for governments to actually control the currency, basically a situation where sanctions could be imposed but they can't actually stop the overall process of transferring coins. Is this assumption wrong?

Governance within the block-chain:
-Ok so I am not going to pretend to know a lot about this subject but I believe we have a fork in August coming up which has a lot of people up in arms it seems. Why is this such a big deal?
-Miner Fees are pretty straight forward but doesn't seem devastating as a whole, is this wrong as well?

Well I guess I have more questions than insight, but I guess that is better than "Is Bitcoin going to $1000 tomorrow?" threads.

Jeezy