Topic: What are the biggestest threats to Bitcoin? - page 5. (Read 6973 times)

It is very naive to think that virtually anything but govenment poses a real danger to Bitcoin.

I agree with you. I also think that alternative currencies are biggest thread to Bitcoin.

A 51% attack and the end of internet

I guess it would also be best to take into consideration and worth a mention that if the internet was lost for a long period of time or indefinitely that would be a major threat to Bitcoins.

imo biggest threat to bitcoin would be coinbase and bitpay consolidating and centralizing it all between merchant and consumers. banks are just going to brand each one of us and track our transactions live.

I have been reading several negative things/news about BTC.
Maybe negative feedback/news about it could be a big threat too?

I'm just now finding the same lot (no pun intended) attached to some of the exchanges that's not pinin'! 'E's passed on! Is no more! Has ceased to be! 'E's expired and gone to meet 're makers!

'E's a stiff! Bereft of life, 'e rests in peace! If they hadn't fleeced 'im clients 'e'd be pushing up the daisies!
'Er algorithmir processes are now 'istoried! 'Ere's off the net!
'Ey's kicked the bucket, 'e's shuffled off mortal coil, run down the curtain and joined the bleedin' choir "we's fucked yous up da ass"!!

I've yet to make a connection, but Bitcoin-Central's owner, Paymium, still owes me 1,132 BTC that once was in InstaWallet, and now resides in one of davout's bitcoin wallets, plus some, nicely washed between Paymiums concerns and a notable bitcoin dice site (not SD).

For those that may ne pissed at me due to my recent postings, you have Paymium to blame for me having the red-ass (again, no pun intended). If or when they decide to play nice, I may consider playing nice myself. Until then, I'm on full-tilt.

hackers.

Hmm that is interesting as I've been thinking bitcoin was just to big for an attack like this to take place.  I also read a posts on this forum I believe or maybe a video that that said something similar effect.  I guess that is simply not the full story however.  Thanks adding this in to the mix.

In Russia the biggest threat is government. And in China too...

The biggest threat to Bitcoin is people not using it. Many have it as a store of value, but few trade in it. Merchant adoption has been hopeful but aside from the initial buying boost, purchases in bitcoin go down after. I always make it a point to pay in Bitcoin at as many places I can, e.g. Namecheap, Tigerdirect, local restaurants.

The biggest threat to Bitcoin?

The high percentage of scumbags involved. More than half the exchanges have gone bust, most through "take the money and run" operators. The "Bitcoin stock exchanges" had few, if any, real companies that did anything behind them. The "Bitcoin Ponzis" were even worse. Most of the ASIC system vendors can't reliably deliver ordered products. Some of the Bitcoin Foundation leaders turned out to be crooks.

This is pathetic. It doesn't seem to be getting better, either. Look at the crowd behind Sunlot.

The 1 MB block limit threatens Bitcoin's ability to function as the global reserve currency. It should eventually be changed to 10 GB per block to handle tens of billions of transactions per week.

Future scenario:

Paychecks are sent to billions of people in the form of bitcoins twice a month. People fund online accounts with bitcoin transfers once a week to do a majority of their transactions off the blockchain. No one runs a full node anymore, it's just too expensive. Instead everyone uses a SPV client and countries keep copies of the full blockchain to keep each other honest. Each country's government mines bitcoins and uses the transaction fees to fund government projects.

Fees per KB are around 20 satoshi or 2 USD, so peer to peer transfers are affordable, but rarely initiated because the opportunity cost of spending old bitcoins is just too damn high. The floating transaction fee formula everyone has agreed on effectively limits the average number of transactions to 6 per person per month. Because of this, everyone divides their bitcoin balance into thousands of addresses to accrue confirmations in case their bitcoins need to be quickly spent. Around 50M transactions are included in each block, giving a block reward of 100M USD from fees alone.  Governments are smaller and more cost-effective with their spending so the 100M is just enough.

The price of a bitcoin is 10M USD and fiat is nonexistent.

If my info wasn't so relevant, then sure as hell the mainstream press wouldn't have expanded on it.

I haven't even begone to show, thus prove, the hundreds of millions of dollars being pumped into Bitcoin by shady characters like Brock Pierce going down a black hole with NO CHANCE of an ROI.

BTW, I am not making plans to commit suicide, especially via jumping off the 25th floor of a high-rise building in Singapore and crashing on the concrete landing slab above a garbage bin two blocks from GoCoin's office at 7 AM on a Wednesday because I'm depress over the post I just quoted.

But, if I change my mind, a handful of sick flowers, shown below, would suffice, placed where my body landed, for paying homage to me.

I"d have to say the the biggest threat to BTC at this time is bad press.  For example the bad press of Gox being hacked people losing their money and China banning Bitcoin all caused some damage.

My feeling is that the above statement is correct. If people had used Bitcoin quietly, it might have slowly become big without all the problems that it has had. And there wouldn't be so many banks and governments out to shut it down. It's all in the greed of the people who have tried to milk Bitcoin for all it's is worth that is the biggest danger to it.

Federal reserve and another central bank
i think they hate BTC

I see what you did there!

The amount of dumb money involved buying any coin hyped (including ripple like coins, proof of stake coins that anyone with little common sense can grasp why they cannot be a decentralized consensus mechanism)

There is a magazine called Goat Quarterly?