Topic: Bitcoin's End Game - page 3. (Read 1350 times)

Nothing will last forever, including BTC, but I can´t think about longevity of BTC right now, maybe we are in the mid of the life of BTC, maybe it´s just the beginning...
People always make estimatives about the last block of BTC, when will occurs etc, but we have to think about the relevancy of BTC, because it's a product of tech, and we all know that technology evolves in a quickly pace, more than in any other area, so we have to accept that BTC is not eternal

It is quite impossible to see bitcoin right now and even in the future. As we can see, bitcoin has been dominating the market for a very long time already amidst all the crisis and issues it has faced. We should already be confident by now about its current status. Holding and waiting for the right timing is still advisable up until now actually since the market is about to make a massive change as bitcoin halving occurs.

There are a lot of conference occuring around the world but actually we can see the market falling since the corona outbreak led to the cancellation of the conferences that could have make a huge difference in the market. Still, as soon as corona outbreak ends, the conference would take place and we will surely see the changes and improvements occuring in the market.

The future of Bitcoin lies upon us. If we are not able to adopt this new system, a new way for payment and what the others think about it, this gonna have an end. But we are into that adoption, people started to use it as a normal way for doing transaction just like of using fiat. But there is some situation that will put into question and the credibility of crypto because of its high risk and its volatility feature where people might give them an option not to adopt this and so the government support.

Well, we're not hoping for its end because some of us have benefited from this but the question is, how long we can make to manage to hold its risk and our support?

Countries which banned bitcoin and other cryptos started to uplift their ban to it because they don't have the right to do so, this is why I don't see the potential of other countries to do same thing again, not today, not in the near future. Although many countries are giving their statements and ideas about making and launching their own cryptocurrencies, still there are no such cryptos that are out in the market, so unless it have, bitcoin will always be safe from dying and vanishing.

I don't think so, not all governments are this idiot, so among countries the division is already there, with those favoring it weighting more the few that outright banned it.

From another perspective, banning Bitcoin means refusing wealth from entering your country. If you have 3 countries, two that ban Bitcoin but one doesn't, logically you will see more investing in the one that allows Bitcoin. This divide already exists, and i'd say only a minority (about 15 countries) banned Bitcoin.

Also the generational divide, as younger people more familiar AND in favor of Bitcoin reach positions of power, and the old dinosaurs die of age, the balance of those against vs those in favor will simply favor Bitcoin. In the long term, Bitcoin has advantage, and by then they can showcase Bitcoin's history to ease acceptance.

There is also the population learning about Bitcoin and what it means to the world.

Think of Church and State, so far for the most of the history of human kind religion and state were one and the same. Don't you think there was fierce opposition to the idea that both should be separate? Same thing here, money and state.

If the governments suddenly lose the power to change the rules of the money in everyone's pockets, they are forced to act more transparently. To make a budget fit, make everyone poorer, is a choice that should disappear, as religion can no longer decide who is the head of the State.

There is no turning back, also in world acceptance. Many countries are accepting Bitcoin with various levels of meddling "regulation, kyc, etc". Expected in a transition when there still many from the old school. Some of you see no point, why, you haven't lived what it means when your government decrees that you are now poorer, because they pour more fiat coins into the economy. They must lose this power altogether, and no, just because you live in a "nice country", that "has never done that", doesn't mean they can't; as long as that power is there it can be abused.

Bitcoin is the only way such thing could never happen again. People will learn and understand about this, and give Bitcoin its appropriate value based on usefulness. Bitcoin is more useful than fiat because of this and more.

Eventually the discussion will be: Why not just use Bitcoin as the official currency? Not the other way around... Endgame is more like, consider the dissolution of the USD, and EUR, etc. Of course gov backed centralized altcoins have no future. The WHOLE point is pulling the gov OUT from changing the rules on a whim to the currency. And this means the rules of the coin alone, how many coins there are, etc. Which for Bitcoin its a program following instructions in a worldwide audited open source code executed by nodes also spread worldwide run by anyone that wants to (unrestricted).

Bitcoin is the only true stable coin, its rules are stable, the others, not so much. This gives it tremendous value, no more should you put your trust in your or a foreign government or bank / institution.

I'm very doubtful on government making their own cryptocurrency, why? simply because they are going to create a counterpart of bitcoin which is a centralized one. So most probably they will prohibit the use of bitcoin if ever they come up to create on their own cause they don't want anything that hurdles their creation especially their regulation. Banks by that time will surely be working with digital payments as well as digital investments.

When I started seeing news that somegovernments are planning on creating their own cryptocurrencies, I started having this same thought on whether the governments are going to allow Bitcoin to be around and used by people after they have all created their own cryptocurrencies? I know for sure that their cryptocurrencies are going to be centralized so that they would be able to regulate it.

Since, Bitcoin is decentralized they might declare it illegal and stop exchanges from selling and buying decentralized cryptocurrencies, and then exchanges would stop buying and selling of decentralized cryptocurrencies and then start to support only the cryptocurrencies that are issues by the government and they will be working handinhand with banks. Well, let’s not assume till then.

The easiest way would be to issue an official centralized stablecoin of the State, where each person could have access to it. Like with current cryptos, besides having the wallet address you will have two IDs - one for your eg. transaction title (like invoice no 324/03/09/20) and your social insurance number. Most likely, this would be a solution coming from banks, as you will be able to open these wallets only at banks as a part of a bank account. Why banks? With people abandoning bank accounts, one of the main sources of their income will slowly start to disappear. In such a case, other fees would need to increase or whole banking system may be on the edge of collapse.

There is a possibility for auch thing but as we can see, Bitcoin have grown way too much to just vanish because of a new crypto. It have established wide range of users and they might refrain from engaging to a 'new' one especially those who are seeking profit, if Bitcoin would appear to be more profitable. Crypto has left an image not being a digital currency but as a mode of investment. If it is convenience brought by digital currencies, people may more likely just engage into existing online banking which is currently being used in online services.

If this industry, not only Bitcoin, would seek for further improvements, it won't come to its end. There are just minor issues existing in this industry which make those countries who are not adapting blockchain technology, to do so. And if progress will be continuous, such 'issues' could be aided which will prolong the life of Bitcoin and could possibly result to wider adaptation in the future.

Indeed nothing lasts forever but I do not think that Bitcoin will be ending anytime soon. If the beginning of government's interest to create, navigate and circulate a centralized digital currency would be the end of Bitcoin, I don't think that it is happening soon. Every nation has a different government system, capacity to fund resources and technological advancements. On the contrary, the government of some countries has been very open with cyrptocurrencies that they tolerated different establishments to engage with transactions using Bitcoin. Also, I think that even if the government would start circulating their own digital currency to compete with Bitcoin, they would still choose the latter because of its features that they were enticed with foremost as to why they engage with cryptocurrencies.

Interpol and the UN are world wide.  Or close to world 🌎 wide.

As to the vast majority of countries banning cryptocoins I don’t think they will do it.

There are a lot of cheap and easy ways to attack BTC. Government bans are costly or stupid.

It is right. People will choose what they want. But bitcoin will not end so soon, and I think bitcoin still have a long time to survive. But I hope the government will not ban bitcoin existence, but they will support bitcoin too as they will have their own currency in the crypto market. But let see what will happen later.


Yes, that is right. But as long as the internet connection still exists, people can access bitcoin, but I think in that time people want to survive for their life.

The Government doesn't really have the power to force the owner of each bitcoin nodes distributed across the world. As a result, bitcoin will stay functional until there is an existing node that will support transaction records and transactions.

But thinking about the factors that could eliminate bitcoin in the world, I only see a decrease in demand for bitcoin as the only risk we should fear. Bitcoin could survive even a nuclear war based on some sentiments which I couldn't find right now, and bitcoin isn't breaking huge support for its price to go down too much.

Let's take this meme as an example.
Image link

It's quite a dark humor but this signifies that bitcoin is included in the demand of the people now. Which is to use an alternative currency because of the fact that money is a factor of spreading the COVID Virus. It will further increase in demand and the risk for bitcoin which is stated by OP's quote regarding government might will then become a turntable for Government's decision of running their economy and people's health.

I don't think that it would happen to bitcoin, bitcoin is being so popular all over the world, so I doubt that it will end so easily, there are a lot of countries that already accept the bitcoin in their land, One of which is the supreme court of France that accept the bitcoin as their money, and add subject about cryptocurrency in curriculum, which is really good for them because they will be so familiar with the use of cryptocurrency. Another country is the New York, they planted a generator only for the bitcoin mining machine, they spent so much money to implement and create that project but it is really worth it, because as of this year they earn 50,000$ everyday, and that project is still new, so I think it would be better in the future, and for sure they will earn more than that.

Bitcoin has so many benefits for each and everyone so do not think that it will end in the future because there are a lot of countries that will fight against the end game of this cryptocurrency.

If your biggest concern is bitcoin disappearing because governments that launch their own currencies will ban it you can stop worrying and do something productive instead.

Not all countries are planning to launch their own cryptos. Even if 20% of the countries in the world do it not all will ban Bitcoin. Many will give people freedom of choice. Germany has already stated that Bitcoin is officially recognized as an investment.

People will migrate to countries where freedom is something more than just a word

They probably had a wait and see attitude at the start, but then everything suddenly changed way too quickly. They couldn't suppress the growth as much as they thought they would, which lead to individual countries having different decisions regarding its adoption.

Ignorance is a huge factor as to why the masses would rather support centralized than decentralized. The word government has been implanted on their minds as something trusted, helpful and the like even though the government themselves are at fault for letting their countries be at ruin at certain parts. It's like they've been already brainwashed to stop caring about who to trust and just leave it all up to the government.

we are already in the future and bitcoin slowly achieved the things that we wanted to happen for it  . if supporters are high , the number of bashers or haters also increase because btc is becoming famous   but this is great  because being famous means btc is active and the chance of btc going to an end is verry slim   . i also agree on your last sentence , infact ive seen lots of topics like that lately on this forum   .  many countries are now joining the union   . i can only think of goodies for now rather than thinking the negatives that could happen to btc  .

I agreed with your submission, apart from Europe accepting cryptocurrency and some other countries we know, the France authorities have recently open and legalized the cryptocurrency in their continent, which to me sound too positive for any government to kick against the said technology to be ban again. We have seen South Korea and India uplifted their ban to allow the use of cryptocurrencies in their territories. Am not  seeing the end of Bitcoin and doubt if it will come to pass either.

Actually one of the negative effect of this is the ignorance of the many people who are doesn't know what is cryptocurrency or bitcoin or what is the new technology right now but when the government adapt it there should be a massive adaptation among the country and its citizen so it would be really good if these two oceans will cooperate to attain this massive adaptation of bitcoin but this would not be happen if the government will still ignore day adaptation of cryptocurrency or any other coins. If they will continue to sees the banning of bitcoin worldwide and all the countries specially the government then this would probably will be a hard problem or big problem for us.

We're not ignorant of what brought into existence this said technology (Bitcoin) so going back to enslavement will be difficult for those who are already free the hoax of the government. There will be more adoption of Bitcoin and this will drive both the institutions and cooperate to adopt Bitcoin. When this happen, the government will have no choice to adopt it. As you have rightly said, the decision from the government to cease or ban Bitcoin worldwide will be difficult.and if it happen, something shitting like surveillance coin will surface.