What could stand in the way of BTC? | Bitcointalksearch.org

ajax3592

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Quote from: PlaysWithPaint on November 13, 2013, 11:24:58 AM

Just out of interest, what could go wrong with BTC? Hacks, government regulations etc, if anything would bring it down, what would it be? Its always fun to think of both up and down sides.

The biggest hurdle in the progress of Bitcoin becoming a universal currency are:
1) USA
2) Banks of different nation
3) Hackers
4) Alt Coins (A year from now)

BitCoiner2012

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Quote from: MAbtc on November 13, 2013, 01:21:52 PM

Yes, I think the government is the biggest threat. However, as time goes on, their window of opportunity to cripple bitcoin is quickly passing.

This is the important side note of the threat.

javaguardian

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essentially banks and government. Possibly also the IRS, cuz you betcha they wanna tax people's hard earned bitcoins oh yea.

MAbtc

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Yes, I think the government is the biggest threat. However, as time goes on, their window of opportunity to cripple bitcoin is quickly passing.

lambdaE

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Quote from: PlaysWithPaint on November 13, 2013, 11:24:58 AM

Just out of interest, what could go wrong with BTC? Hacks, government regulations etc, if anything would bring it down, what would it be? Its always fun to think of both up and down sides.

Government, anti-bitcoins laws might be approved in future because of fear of laundering money

BitCoiner2012

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Governments and banks are the biggest obstacles to Bitcoin.

www.bluevec.co

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Come little sailor, visit me...

One word: Goverments

wannasurf

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I think big hacks will be rare. Small user hacks will start to get under control with more products (hardware wallets and reduction of windows OS machines etc)

If bitcoin were an idea for a single country like the U.S., I would say it would be vulnerable to govt legislation. As a global idea, that makes it robust. Governments will have to compete for liberal (i.e. not restrictive) regulation. So I've gotten comfortable with the govt risk part of this investement, at least as an individual buyer of bitcoin. I can't imagine legislation preventing ownership of these things, as long as we pay our taxes. If I were trying to do a bitcoin business it's a whole 'nother headache.

So my "down" scenario isn't a huge crash but more that just the marketplace friction remains with U.S. or others shutting down transfers of money a la Mt Gox and the market just cools for a while (year or two) which shouldn't be a terrible thing.

Bitcoin is the mother of all lock-in business models, probably in our lifetime, so I can't see an alt coin making headway against the dominant player.

PlaysWithPaint

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Just out of interest, what could go wrong with BTC? Hacks, government regulations etc, if anything would bring it down, what would it be? Its always fun to think of both up and down sides.

Topic: What could stand in the way of BTC? (Read 500 times)