[2017-12-05] Threats That Can Sink Bitcoin

[Xavofat]

The article neglects that the most important threat to BTC's price is the speculators themselves.

By buying in too much, too quickly, they have become unstable and it's very possible that they could panic sell if the price falls by a moderate amount.  I don't believe that these speculators are really ready to lose a chunk of their initial investment after buying in high.

It only requires a fairly small event to cause that price drop that would set off a domino effect - it could also happen from almost no event at all.

[Swenna]

After all this time, have we not learned anything at all? Bitcoin will always surpass whatever tries to take it down. Just like in the song, what What doesn't kill you makes you stronger. Furthermore, banning bitcoin will be very difficult and to shut down any crypto miners, users and traders around the world is next to impossible. Well, unless, of course, the government, it self, had latched itself on the web and all online system to detect any users and to trace anonymous transactions which is very difficult. Therefore, maybe, the real threat to bitcoin is us, holders, users and traders, and what we think about it and how we act with regards to what we think.

[Domenc]

The shooting price of Bitcoin has captured everyone's attention, making it both favorable and unfavorable among users. Plus, the surge in price have shown us the threat that are possessed to Bitcoin and they are really an issues of concern. The threats concerned in the blog are terrifying and even one of the event happens can cause a greater dip in its value. Issues like government, security and so on are issues of the hour and bigger problem is that there is probably no permanent solution for them.

[Rahar02]

The biggest obstacle is government regulations about cryptocurrency, bitcoin may regulate as a commodity or digital asset instead of currency or as a legitimate means of payment due to bitcoin volatility and could harm fiat currency in the long-term, that's the point why a country afraid of bitcoin, it's decentralized technology. However, only a few countries which may affect bitcoin price significantly, the big players such as Japan, US, Europe, South Korea which most of them already have regulations about cryptocurrency.

[digodk]

I do not wish for governments to regulate, as in create laws and taxes and rules for bitcoin. I wish for them to say in an official capacity "That's ok, you can use bitcoin (or altcoins), we're not going after you."

You're still missing the point.

Think about it logically: where are the resources going to come from to actually stop people using Bitcoin and other cryptocurrencies? It's an impossible task, and it's even more difficult than the previous impossible problems governments set out to solve, due to the resources required to attempt effectiveness.

They have little choice but to roll over, cryptocurrency represents a genuine change in the power balance between governments and everyday people.

I also think that governments hold little power or effectiveness in barring bitcoin. The reason why I see such statements as positive is because it would encourage the regular joe to research and read about bitcoin, thus bringing more attention to the system as a whole. Nevertheless, we're starting to see this happening now with futures trading and more media attention, regardless of governments intentions.