Topic: Bitcoin's threat (Read 355 times)

I think that's not a threat, Bitcoin is the strongest and most popular coin that continues to grow. It may be that you think it can happen, investors split the money, but surely there will be new investors who invest money in bitcoin. Bitcoin is the strongest coin and will be an investment choice.

I think it is quite good that there are other cryptocurrencies being developed as it opens innovation for the blockchain technology. ALso, even though there are others, investors will not forget about bitcoin as it is still king in the current market.

I really don't think there is any threat that any other cryptocurrency poses because we have all seen how fast the new cryptocurrencies are used and forgotten.. its.. been something that's going on since a very long time and I don't think that any new currency might take over the market of Bitcoins .
Anyways because it's improving .. the segWit addresses are really doing great in making everything easier and faster...

 I don't think that a new coin can be a threat to bitcoin, bit coin has its own popularity already, compared to those new coins. Bitcoin are the most commonly use token in the world already,

Five risks associated with owning bitcoins
Volatility
5 Bitcoin risks Like other Bitcoin crypto currencies, it is extremely unstable and volatile, even more than stocks. While maintaining high volatility, the coin is constant in the trend towards growth, but this does not mean that it can not collapse suddenly. The cause of Bitcoin's fall can be both a ban on the legislative level and "overheating" of the market. A price reduction of even 20% will surprise investors, although from the first day of the year they earned more than 900%.

History has shown that the higher the growth, the more significant the correction. Therefore, Bitcoin owners must take this risk into account.

Cyber ​​attacks
The storage of Bitcoin in an online wallet, exchanger or exchange - will not provide confidence in the security of encryption facilities. Reuters reported that the exchange of crypto currency was hacked and the platform had to close its business due to a lack of virtual currency.

Store Bitcoins on the online exchange - a serious risk.

Attacks from quantum computers
In early November 2017, a group of experts sounded the alarm - the blockchain Bitcoin could suffer from the attack of quantum computers in ten years. New transactions for hacking will be carried out by 2027.

In order to have the maximum possible understanding of crypto-currencies, be sure to read the information about what a blockage is.

Many of the existing Bitcoins accounts and all new transactions will be in danger in ten years, you need to make decisions now.

51% attack
One of the real problems for Bitcoin is the so-called "51% attack". Under the scenario, only one organization will control 51% of capacity. Such an organization has the ability to manipulate a Bitcoin blockchain by blocking transactions or doubling Bitcoin. In this case, the entire specialized system will collapse.

Do you think that this is just a theoretical threat? Do you know what is the distribution of hashing power for today? The five largest pools for mining produce 70% of the hashing capacity in general. There are three large miners - AntPool, DiscusFish and Bitfury. They joined forces and reached the fatal level of 51%.

A loss
Once lost, Bitcoin can not be retrieved. And this also applies to operations - after confirming bitcoins can not be removed or canceled.

Already more than 3.8 million bitcoins were lost forever, and this is 23% of the total.

In 2009, James Howells, a specialist in English information technology, at his home namaynil 7500 Bitcoin without much effort. Then he threw out the hard drive of Dell laptop. Today, a hard drive worth about $ 75 million continues to be among the garbage in the Wales dump.

Yes of course, if there are currency that worth the same as bitcoin, people will tend to choose the currency they like the most.
Maybe they prefer the newest currency, or they will stay with bitcoin because they already invest in btc for long time, or they maybe will choose the other one who have greater prospect and better future
Anything may happen, but for now nothing can be compared with bitcoin yet, maybe eth but still not reach that amount yet. But we don't know what may happen in the future.

A lot of investor keep making their own coin like in ICO but they can't surpass bitcoin because people know that bitcoin will always be on top.

It is a good thing I think because new coins in the market means new healthy competitions. Investors will be very happy to see new coins and to invest with. Just be cool and always think positive. Bitcoin is already in the market and has placed itself in the stardom.

That would not happen i guess. As of now there is no currency equal to the value of bitcoin and even in the reliability, there is not such thing that is a threat to bitcoin. Yet everything is posible since cryptocurrency is unpredictable, but for me it would be devastating if there is a threat to bitcoin's standpoint in cryptocurrency.

There is always a certain presentation about the project that can swallow the victory of bitcoin but still it remains in the air. So let's see this one.

A threat is something that we cannot avoid even in everything that we are doing, and if dumping of price was for us is a threat, then how we can become successful if in ourselves we are the one thinking of negativity, let yourself just go with the flow, bitcoin is so much risky but if you know the concept and everything for sure we can avoid panicking.

Yes this is what happening right now many ICO's tends to have a competitive significant against bitcoin but not threat at all. We are seeing the creation of many coins in the market but the all time high crypto which is bitcoin cannot replaced by those coins. Bitcoin dominated many of coins for the past years and still being recognize around the world though they have doubts on it, it is still able to cope the trust of the people.

I think this is not a threat to bitcoin but also promotes bitcoin development. The value of the incremental bitcoin pulling the value of other currencies also increased. bitcoin affects more coins. Bitcoin is also the longest virtual currency

Compared to other virtual currencies, bitcoin still dominates. I compare bitcoin with Ethereum. Bitcoin was the first digital currency, while Ethereum was born with the hope of delivering a more complete digital currency, and the Ether was just one of the smartest apps in the industry. So other currencies are not a threat to bitcoin.

The most influential factor, quite clear and obvious, is speculation. Bitcoin speculation can bring in huge profits. The risk of this currency makes it attractive to speculators. If investors move to invest in another virtual currency, this is a threat to bitcoin

Bitcoin already overcomed 9 years, what else can stop Bitcoin for now ?

for now it is difficult to shift the popularity of bitcoin. because the bitcoin in the world of crypto is like gold and the others are like silver or bronze.
but for the next 3 years may be a bitcoin can be matched

I don't think that is a threat, simply because it would take a really advanced coin to show up to remove investors from bitcoin. Let's not forget that bitcoin was the first crypto out there, and it has the biggest team of devs at the moment, which means that it should be hard for someone to come up with something better than bitcoin. Also it has the biggest hashpower dedicated to maintain it's network, so it's also the strongest blockchain out there.

Investors will definitely use other emerging coins for pump and dump tactics, since it gives them great profit, but in the end everyone will come back to bitcoin. Just look at the history. Every time there is a crash in bitcoin, all other coins bleed to, so this means that bitcoin is still calling the show, and it will probably continue that way.

 There are many competitors of bitcoin, but bitcoin still strongly stand, we really knew that bitcoin are made and founded by a very genius person, and we can trust their capability on how to handle any kind of competitors or trouble that comes. Threats are comes anytime, but the solution are always there, only thing we can do are trust and confident to the organizers, of what ever threats comes we know that they can solve it.

As the representative of the blockchain, BTC is the leader of the entire cryptocurrency, which is the first and initial password security. New cryptographic currencies appear every day, but for so long, only BTC has been leading other digital currencies! Other digital currencies pose little threat to BTC!

Other e-currencies already exist and have for years.

That is not true, it is not a threat. First of, there are a lot of e-currencies already before bitcoins were created. The truth is, bitcoins are the threat to e-currencies. As bitcoins offer much more than what conventional e-currencies offer. Then there is the fact that e-currencies are 100% centralized as compared to bitcoins which are decentralized. In e-currencies, the company can just suddenly say "your funds are forfeited". This can be seen with paypal actually.

No. Bitcoin is and will be the king of crypto second to none.
That is just an assumption. Also even if they did change the mode of investment from bitcoin to some altcoin how will that change the position of bitcoin? It does not depend on what the investors are thinking.
Investors invest in different currencies but bitcoin is the primary mode of purchase of any asset in crypto other than fiat. So when they sell bitcoin to buy some other coin another investors will pick that bitcoin and thus liquidity is maintained. Everyone is willing to grab their share of bitcoins and so its demand is always there.

Bitcoin is a measure of the cost for other altcoins. All crypto coins are nominated in it. It is connected in my opinion with the long life of bitcoins and the associated trust to it from people.

Threat? Is bitcoin a "state"? Why do you think, that movement some money from BTC to the other crypto is dramatically killing bitcoin?

I don't see the threat on creating coin like bitcoin, firstly that possibly coin that can create is also decentralized, safe and secure like bitcoin, it should have the better aspect of bitcoin and i think none of our technology can do that. Another is for the coin to be atleast $10000 it should have a high demand from the people and useful one as bitcoin.

So what you're saying is that someone may create another crypto that takes away from bitcoin? That's entirely possible but that competition is what will always push bitcoin and the others to be better. Without competition we would remain static and that would be worse for us as investors.

I don't think that it is a part of probability but it is already happening in this world of virtual currency , day by day new coins are coming and also investors are also attracting toward those new new coins regardless of the factors that they are profitable or not .
But here you can't see that people moves himself from Bitcoin investment but indirectly they are increasing the demand of Bitcoin because if they will buy the new coin or any altcoins then surely they will needed to have Bitcoin and in that case they will buy Bitcoin and so on .
So here with your argument we can't say that Bitcoin investors are going at another side in case of investment but in actual all of them are recycling Thier money .

Dozens of new coins appear everyday and we can see that none of them can be better than bitcoin because it is the first and the original cryptoccurency. I dont think there can be another e currency that can become better than bitcoin because thats why bitcoin was created, to become the new e currency and help the world to avoid taxes from banks and governments.

Anyway there is a possibility that a new coin will become greater than Bitcoin because right now bitcoin has some disadvantages that a lot of people dont like. For example the fees, they are pretty high especially if are a company and you want to make dozens of small transactions everyday. The fees lead to a longer time for transactions to be confirmed because the higher the fee the lower is the time you need to wait.

i think its normal that those investors move to the another investment program but not to move all their assets to that because we all know that bitcoin is the no.1 leading crypto currency circulating online so theres no threat about that. many of us bitcoin investors are holding their own bitcoin to earn more profits in the future, and those another altcoins are just an option or alternative source of income.

Bitcoin's biggest threat is banning or restrictions in major countries such as the US and China. Other than that, bitcoin should be golden  

Also, Bitcoin will face many troubles if China decides to heavily crack down on bitcoin mining. As we very well know, China is the major miner for bitcoins around the world, so if they get taken out of the equation, bitcoin can and most likely will seriously suffer.

However as for other altcoins, IMO they stand no chance. No other coin has the platform or the fan-base (so called fan base) to become a big thing. ETH is on the rise right now, however it has no cap, so as many can be mined as you want.

I do not think this is a threat to bitcoin, even if there are other crypto currencies, I think it will still be in bitcoin. because bitcoin is the first trusted crypto currency that is still the highest value of other coins. Although other coins also have great potential to be invested, but I am sure if investors still will not leave bitcoin. they will still invest in bitcoin and invest some of it on other coins.

New cryptocurrencies are created every day. The question of threat arises whether a new cryptocurrency could have a network effect similar or greater than that of Bitcoin. From a technological/functionality/utility perspective, there are some cryptos that have some unique features than Bitcoin, but at the same Bitcoin is adaptable, technological implementations can be integrated according to demand/necessity. It would be inappropriate to say that Bitcoin would be dominating each and every aspect/functions associated with cryptos, but it is highly unlikely that any crypto would threaten Bitcoins well-established position as a deflationary saver coin or digital gold of cryptosphere.

That's not how it works. In order for another crypto gain value, there must be some demand to it and for it to outweigh bitcoin's current position in the market, the demand must greatly exceed the suppl of that particular coin/token. Even if the 100 investors move altogether into the new currency, thousands would still remain trading bitcoin day in day out, meaning their disappearance from the bitcoin market is bearable. Value isn't created just because a group of investors says that their product is worth X; there needs to be some sort of demand before that value speaks for itself, so no, that isn't a threat to bitcoin at all.

The probability is 0 because new coins that are made are not well established and it will took many years before or could manage to get with the same price with bitcoin.
Investors of bitcoin doesnt necessarily move 100% all their money to new coins because the probability of the coin will fall down has a huge percentage.
Investors think about how to make more money if they have doubt on the coins they will not invest on it.

Bitcoin and other crypto currencies are different in many ways. Bitcoin is the first, original and have the highest price of them all. There are many coins now in the market but none has overrun the bitcoin. Investors will still stuck to Bitcoin because it has proven already in the market.

Bitcoin has the networking effect and despite of so many other currencies coming out, BTC still dominates the market. If we are specifically talking about other currencies then yes there is space for more of those but chances are that BTC will always have a certain level of advantage.

this is not a threat to bitcoin I think bitcoin will remain there until whenever it may be more precisely you should not say this is a threat akantetapi will cause a decline in bitcoin value. but I think even if it is true bitcoin prices will decrease I think this is not a threat it would be a good opportunity for investors who will re-invest in bitcoin with a large enough scale so that it will again pump the price of bitcoin becomes higher.

Bitcoin Forum is a problem in your account, by posting threats to Bitcoin , the problem is resolved . So it is very nice . I like it .

Don't think it is that big of a threat to Bitcoin. Most people view Bitcoin as the king of all cryptos, so it is quite unlikely for it to be overthrown in the near future. However, it may happen in like 5 years or something.

I really think that the creation of new E currency is a threat to bitcoin.
Like for example. Some investors may move their investments to other currency made.
If bitcoin for example has 100 investors in all, then several currency is made with the same value as bitcoin. (we say 3 currency)
then the 100 investors may move to other 3 currency to find more specific or easier way to earn money or inflate their investments.
Do you think these probability will occur?