Biggest threat to the future of Bitcoin?

[Jeezy911]

Obviously there a lot of ways to answer this question but I want some smart views on what could legitimately hurt the future of Bitcoin or cryptos in general.

Technology:
-I am not a computer coder but could someone explain to me yes or no, is it possibly for a future technology like an advanced AI to crack the code for private keys in the future?
-Couldn't there also be a new form of crypto maybe ether, or maybe something more advanced to overtake Bitcoin at the top spot? It seems like there is still room for the decentralization of everything coin or something similar to be developed with characteristics that outshine everything on the market today. 
-Or could something be developed outside of the crypto universe that makes this technology obsolete?

Government regulation:
-I am not as concerned about this topic due to the inability for governments to actually control the currency, basically a situation where sanctions could be imposed but they can't actually stop the overall process of transferring coins. Is this assumption wrong?

Governance within the block-chain:
-Ok so I am not going to pretend to know a lot about this subject but I believe we have a fork in August coming up which has a lot of people up in arms it seems. Why is this such a big deal?
-Miner Fees are pretty straight forward but doesn't seem devastating as a whole, is this wrong as well?

Well I guess I have more questions than insight, but I guess that is better than "Is Bitcoin going to $1000 tomorrow?" threads.

Jeezy

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[mrcash02]

Obviously there a lot of ways to answer this question but I want some smart views on what could legitimately hurt the future of Bitcoin or cryptos in general.

Technology:
-I am not a computer coder but could someone explain to me yes or no, is it possibly for a future technology like an advanced AI to crack the code for private keys in the future?
-Couldn't there also be a new form of crypto maybe ether, or maybe something more advanced to overtake Bitcoin at the top spot? It seems like there is still room for the decentralization of everything coin or something similar to be developed with characteristics that outshine everything on the market today. 
-Or could something be developed outside of the crypto universe that makes this technology obsolete?

Government regulation:
-I am not as concerned about this topic due to the inability for governments to actually control the currency, basically a situation where sanctions could be imposed but they can't actually stop the overall process of transferring coins. Is this assumption wrong?

Governance within the block-chain:
-Ok so I am not going to pretend to know a lot about this subject but I believe we have a fork in August coming up which has a lot of people up in arms it seems. Why is this such a big deal?
-Miner Fees are pretty straight forward but doesn't seem devastating as a whole, is this wrong as well?

Well I guess I have more questions than insight, but I guess that is better than "Is Bitcoin going to $1000 tomorrow?" threads.

Jeezy

Theoretically it's possible to crack any security system as technology is infinity. Hackers upgrade their skills and systems, so the security defense must be upgrade too, always, to prevent the enemy technology be more advanced.

If a new currency brings more features that people like, there is a high chance to have BTC replaced, but it takes time to happen and until now, Bitcoin rules, there isn't any AltCoin with real chances to replace BTC (at this moment).

I can't imagine any kind of currency or asset being created outside of Crypto-Currency world now. Crypto-Currency is becoming the trend of the world, until something new appears, the Crypto trend must finish first.

Even governments try stopping Bitcoin they can't, because people will use it on the "illegality", they will take the risks and continue using ad it's much more convenient than fiat. BTC is decentralized and pseudo anonymous, it's not so easy to stop.

I hope there isn't any hardfork.

Fees are expensive for me, nobody likes to waste money with fees and if it could be cheaper, would be amazing!

[d5000]

-I am not a computer coder but could someone explain to me yes or no, is it possibly for a future technology like an advanced AI to crack the code for private keys in the future?

Cryptographic systems can fail, and some (of the past) have already proven to be insecure like SHA-1. AIs or deep learning sytems can probably help to discover these vulnerabilities.

-Couldn't there also be a new form of crypto maybe ether, or maybe something more advanced to overtake Bitcoin at the top spot? It seems like there is still room for the decentralization of everything coin or something similar to be developed with characteristics that outshine everything on the market today.

Totally. Take a cryptocoin that can be scaled to the factor 100 or even 1000 respect to Bitcoin without risking decentralization (no segwit war), consuming much less energy and is more stable (Hint: There are already some projects that try that, but no one has proven that it works for the long term).

-Or could something be developed outside of the crypto universe that makes this technology obsolete?

One thing I can imagine is an AI-based system that controls the economy and human needs and uses advanced incentives to "guide" humans to make the economy/world better. This system would also be used for "monetary transactions". Other possibility is that we don't need money at all anymore.

-I am not as concerned about this topic due to the inability for governments to actually control the currency, basically a situation where sanctions could be imposed but they can't actually stop the overall process of transferring coins. Is this assumption wrong?

I believe it is right, because even if they use the most drastic measure and "turn off" the Internet, there are alternatives like mesh networks that could be used. A government would need a "Big brother" state to forbid that.

-Ok so I am not going to pretend to know a lot about this subject but I believe we have a fork in August coming up which has a lot of people up in arms it seems. Why is this such a big deal?

Chain splits (!==forks) are very troublesome for all people that use cryptocurrencies for other things than simple speculation. Imagine you use Bitcoin to transfer money between country A and country B and one day, all exchanges on country A are on a chain and all exchanges of country B are on the other chain. So chain splits should be avoided.

-Miner Fees are pretty straight forward but doesn't seem devastating as a whole, is this wrong as well?

It can be a problem if there are alternative coins that deliver exact the same service (transactions in an advanced currency ecosystem) for a lower cost. But be warned, most altcoins of today are not capable of that in a sustainable way, they're only cheap because they have almost no usage.

[Wind_FURY]

There is also the human factor of "hubris". There are some that are thinking Bitcoin is already too big to fail and all the time and work put in to it has given it a position that it is secure enough that it can be hard forked away from Core. It takes only the brilliant minds to maintain and keep Bitcoin going, and Core has done a good job so far. Taking it away from them for a new set of incompetent developers, like BU, will break it. 

[RoommateAgreement]

in addition to all that, the only other thing that can hurt bitcoin the most is its users in my opinion.
mostly the users who don't understand bitcoin at all. they see it as a plaything to make money only and make it fast. they have weird expectations from bitcoin and when they are not met they start thinking it is dead.
and one more thing is many who have started calling bitcoin just as an store of value. and this will haunt us in the long term if more people stop wanting bitcoin as it should be (a currency) and want it only as an store of value.

[jerowacik]

Obviously there a lot of ways to answer this question but I want some smart views on what could legitimately hurt the future of Bitcoin or cryptos in general.

Technology:
-I am not a computer coder but could someone explain to me yes or no, is it possibly for a future technology like an advanced AI to crack the code for private keys in the future?
-Couldn't there also be a new form of crypto maybe ether, or maybe something more advanced to overtake Bitcoin at the top spot? It seems like there is still room for the decentralization of everything coin or something similar to be developed with characteristics that outshine everything on the market today. 
-Or could something be developed outside of the crypto universe that makes this technology obsolete?

Government regulation:
-I am not as concerned about this topic due to the inability for governments to actually control the currency, basically a situation where sanctions could be imposed but they can't actually stop the overall process of transferring coins. Is this assumption wrong?

Governance within the block-chain:
-Ok so I am not going to pretend to know a lot about this subject but I believe we have a fork in August coming up which has a lot of people up in arms it seems. Why is this such a big deal?
-Miner Fees are pretty straight forward but doesn't seem devastating as a whole, is this wrong as well?

Well I guess I have more questions than insight, but I guess that is better than "Is Bitcoin going to $1000 tomorrow?" threads.

Jeezy

I think one of the biggest threats is Government regulation, because without government support the bitcoin will continue to run in place. Bitcoin will be difficult to develop and may be left behind its users. But when the government supports bitcoin I'm sure bitcoin will be a calculated commodity, bitcoin can be one of the financial elements in the world. And everything can change for the better than it is today.

[AngelSky]

in addition to all that, the only other thing that can hurt bitcoin the most is its users in my opinion.
mostly the users who don't understand bitcoin at all. they see it as a plaything to make money only and make it fast. they have weird expectations from bitcoin and when they are not met they start thinking it is dead.
and one more thing is many who have started calling bitcoin just as an store of value. and this will haunt us in the long term if more people stop wanting bitcoin as it should be (a currency) and want it only as an store of value.

People saying bitcoin will be dead is worry about future of bitcoin. As the raise of altcoins will washout the bitcoin in future. Example, Eth price is rising faster than bitcoin. Bitcoin takes more than 5 years to see the current value now but eth has much better growth than btc.

[nethan1btc]

in addition to all that, the only other thing that can hurt bitcoin the most is its users in my opinion.
mostly the users who don't understand bitcoin at all. they see it as a plaything to make money only and make it fast. they have weird expectations from bitcoin and when they are not met they start thinking it is dead.
and one more thing is many who have started calling bitcoin just as an store of value. and this will haunt us in the long term if more people stop wanting bitcoin as it should be (a currency) and want it only as an store of value.

People saying bitcoin will be dead is worry about future of bitcoin. As the raise of altcoins will washout the bitcoin in future. Example, Eth price is rising faster than bitcoin. Bitcoin takes more than 5 years to see the current value now but eth has much better growth than btc.

Yes mate, I don't just see only eth growth here but I must consider both of them were growing better with different situations appealing to investors. The only threat which I think is from bigger whales who will pull out their holdings and sell it all, in reasons that's affected from negative speculators that influence bad decisions. Bitcoin future will have to go a long way ride if we just be patience at all times, and don't be discouraged immediately; just stay focused and be positive.

[cengsuwuei]

Government regulation:
-I am not as concerned about this topic due to the inability for governments to actually control the currency, basically a situation where sanctions could be imposed but they can't actually stop the overall process of transferring coins. Is this assumption wrong?

goverment never can control crypto price or bitcoin price
goverment only regulation about use bitcoin is savety and under law regulation, money laundry, crime and more
not control bitcoin price

[Wayan_Pedjeng]

Cracking Bitcoin private keys are not that easy. They are very lengthy and cracking them will take infinite number of attempts by a bot. In order to prevent this from occurring, we can fork the chain, and make the wallet temporarily (may be for 1 hour or one day) de-active after 1 million or 10 million failed attempts.

[YuginKadoya]

In my opinion I can not see some major catastrophe that would take out bitcoin in the face of the planet, but the end of the world together with the world maybe some Blackholes would surely eat our planet to existence well that is in the end of times but maybe the impending split is definitely a big threat for other people in the community, well actually I am a part of the not very agreed with the Big blockers on what they would do to bitcoin because there is an impending risk involve, well I think that is a suicidal move in my opinion, well the other thing that I am thinking well some insane dude that want's to learn wow to destroy bitcoin (well I just read a blog about it) well that guy just sending all  his bitcoin to bogus addresses I don't know why he would think that way but he definitely wants to erase bitcoin data on blockchain.

[oegarod]

I don't think there is a big threat to the bitcoin in the future as government has started to accept bitcoin and legalize bitcoin. So can expect good growth in the years to come rather than falling down to some other digital currencies because of increasing competence.

[FlightyPouch]

I don't think there is a big threat to the bitcoin in the future as government has started to accept bitcoin and legalize bitcoin. So can expect good growth in the years to come rather than falling down to some other digital currencies because of increasing competence.

As the most valuable digital currency, there is. Even if the governmet starts accepting it is a threat to people using it. Just imagine what will the government do to maintain the users of bitcoin in a country, maybe they will try to create a wallet where they can track someone and look if he has a lot of coins.

[harizen]

Government regulation:
-I am not as concerned about this topic due to the inability for governments to actually control the currency, basically a situation where sanctions could be imposed but they can't actually stop the overall process of transferring coins. Is this assumption wrong?

If will take it seriously and regulations will be heavy, yes it's possible for government to stop bitcoin transactions. But chances for that is low since bitcoin can't really do harm on the whole financial system and I can't imagined that all countries will imposed a regulations like that to stop bitcoin transactions. If they saw bitcoin as threat in the first place, no such thing as learning about cryptocurrencies will be placed like what did for some countries that legalized bitcoin.

If majority of countries will imposed a sanction, then there will be noticeably decrease in bitcoin users in the world since merchants will be affected too. And if that happens, the market is not healthy enough that will result on bitcoin failure. But like I said it has low chance to happen but still it has for about 0.0001%.

[olushakes]

The biggest threat I see there and would lend credence to is the technology behind bitcoin. Government regulation is something that will come and its in their own best interest because they cannot stop it and at the same time shut down the internet in other to stop crypto users so they would have no other option than to just fall in line.

Technology on the other hand could bring an end to bitcoin because everyday computer hackers whether sponsored or individuals are trying to break the code and find a bug the moment the are successful, then that is the beginning of the end for bitcoin.

[bartolo]

The high fees, delays on transactions and the "eternal" thread of a hard fork are more worrying elements at this moment.

[ktabb]

I think the biggest threat/problem for bitcoin is the nature of its investors and its volatility (which have a causal relationship).

Explanation: http://www.demoinvestor.com/articles/00000001

Solution: Bitcoin ETF/institutional investors buying into bitcoin, controlling the price

[DrGuns4Hands]

There's nothing as biggest threat to the future of Bitcoin if us users be positive minded. There's nothing wrong to be posutive all the time. Those people who talk about that threat is for us to worry our investments and to warn us to sell out bitcoin for others. But that doesn't matter just hold it anyway

[NoNetwork]

There's nothing as biggest threat to the future of Bitcoin if us users be positive minded. There's nothing wrong to be posutive all the time. Those people who talk about that threat is for us to worry our investments and to warn us to sell out bitcoin for others. But that doesn't matter just hold it anyway

So there is still a threat when people are negative minded. Everything has it's own side, it is not always the good sides, there are also bad sides. But for me, end of the world is the closest threat to bitcoin.

[Kakmakr]

Obviously there a lot of ways to answer this question but I want some smart views on what could legitimately hurt the future of Bitcoin or cryptos in general.

Technology:
-I am not a computer coder but could someone explain to me yes or no, is it possibly for a future technology like an advanced AI to crack the code for private keys in the future?
-Couldn't there also be a new form of crypto maybe ether, or maybe something more advanced to overtake Bitcoin at the top spot? It seems like there is still room for the decentralization of everything coin or something similar to be developed with characteristics that outshine everything on the market today. 
-Or could something be developed outside of the crypto universe that makes this technology obsolete?

Government regulation:
-I am not as concerned about this topic due to the inability for governments to actually control the currency, basically a situation where sanctions could be imposed but they can't actually stop the overall process of transferring coins. Is this assumption wrong?

Governance within the block-chain:
-Ok so I am not going to pretend to know a lot about this subject but I believe we have a fork in August coming up which has a lot of people up in arms it seems. Why is this such a big deal?
-Miner Fees are pretty straight forward but doesn't seem devastating as a whole, is this wrong as well?

Well I guess I have more questions than insight, but I guess that is better than "Is Bitcoin going to $1000 tomorrow?" threads.

Jeezy

Technology improvements {increased processing power} can be mitigated by the implementation of stronger Encryption. So technology will be applied to technology to solve this problem.

Government regulation: can always have an impact, because regime changes can cause problems. Just look at the changes Trump are implementing. As you said, Bitcoin cannot be stopped completely and it will go underground when governments starts to enforce stronger regulations.

Governance within the block-chain: will always be a contentious issue, because Bitcoin is built on a open source consensus model. The positive thing about this is, if you do not like the code or the developers behind it, you can gather support and get rid of them. You just run the code that you support and hope the majority of the people agree with you that it is in the best interest of Bitcoin for you to do that. < If it turns out that it is not, people will just run other code that would serve their needs. >