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Author Topic: What catastrophic event do you think would cause Bitcoin to drop?  (Read 904 times)
bibiqua
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May 18, 2017, 07:32:42 PM
 #21

Users losing their trust in bitcoin as reliable and viable currency because of the unresolved backlog issue and the kindergarten shown by the operators (be it miners, core developers, who cares?).

This is by no means theoretical, it's happening right now. Very likely, it's irreversible as well.
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May 18, 2017, 07:43:49 PM
 #22

I don`t think that era of bitcoin will end with catastrophe at all. Only thing that can end bitcoin in this faze is some new and much better developed technology. Shutting down electricity or internet is impossible, we are going into new era, and while some parts of the world will stay on stone age, elite will have everything available.
Only real fear is from new technology, I made a little research about quantum technologies and I think when that comes we can say goodbye to bitcoin and many other things that we use now, but who knows when will that happen.



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May 18, 2017, 08:55:04 PM
 #23

we're slowly running out of catastrophes other than technical ones. it's becoming more legit by the day worldwide. china's dead and if it does come back it'll be a meek zombie.

i'd say right now poloniex failing and some type of disaster when attempting to scale, either no scaling or the process screwing up.


Users losing their trust in bitcoin as reliable and viable currency because of the unresolved backlog issue and the kindergarten shown by the operators (be it miners, core developers, who cares?).

This is by no means theoretical, it's happening right now. Very likely, it's irreversible as well.

if people are losing their trust then why are they paying so much in fees? i agree that it can't continue forever like this but it's a sign that usage isn't falling away.
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May 18, 2017, 10:55:11 PM
 #24

When the price of BTC rises, it pulls the value of other altcoins up with it. Hopefully BTC's value never declines. Given the state of the world economy with the united states burying itself beneath $20 trillion in debt, its possible the rise of BTC will continue as countries which adopted the us dollar as a reserve currency seek to further de-dollarize and unpeg their respective economies from what in the future could be a crashing hyperinflating dollar.

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May 18, 2017, 11:02:32 PM
 #25

Theoretically speaking of course...for example, the appointing of a new president, a massive war, something in the economic and financial technology sector etc.
If anything, probably the most catastrophic collapse of the value would be a global, brutal crackdown on Bitcoin users. That would make the community vanish pretty quickly.

Other than that, something more realistic would likely be the cryptography being broken and all the security built into Bitcoin being made worthless, which is part of why Bitcoin is respected as a currency. A new president (under most circumstances) would boost Bitcoin, same for a war that doesn't destroy global telecommunications infrastructure.
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May 18, 2017, 11:22:02 PM
 #26

Users losing their trust in bitcoin as reliable and viable currency because of the unresolved backlog issue and the kindergarten shown by the operators (be it miners, core developers, who cares?).

This is by no means theoretical, it's happening right now. Very likely, it's irreversible as well.

Not a catastrophe, more like a bump in the road. And it is reversible.
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