BTW i will ask here before asking on the main forum, the biggest problem bitcoin faces according to me (and i studied economics on University have a major in it, so i think i could know a little about it) is the government ban or some restrictions on bitcoin...
They said bitcoin cannot be banned... they said bitcoin is decentrialized... bla bla blah... So what? Whats the purpose if the goverment can simly (under some pretex like drug, illegal activities) SIMPLY ban the bitcoin...
BITCOIN can be practically destroeyd if several governments would come out at the exact same moment (or even made some paper deal(signed document) and say we ban bitcoin, or we ban merchants from accepting bitcoin payement or we will HEAVY tax the merchants that accept bitcoin etc....
I REALLY didnt saw this issue discussed thorougly. It was brought up only a little, mildly. It seems like people really dont get it. Yeah, if gov. does so, the bitcoin will survive, but what will be the price...
Today price is i think largely driven be speculation of higher future price, of much greater acceptence in future... What will happen to the price, when several goverments will come out coordinately and clearly, decisively and long-termly will tell the world their final statement on bitcoin - (brutal tax or prohibition of acceptence). If they make it clear and loud than majority of people will accept that bitcoin is finished. Aand no... nobody will really fight on the streets or protest agains bitcoin BAN, cause nobody (majority of society) doesnt really care about it (or even know about it)... Also noone will violate the gov BAN (when there was prohitibition on alcohol in USA in 1930 or the current war on drugs, it really didnt stop the people from using these substances, but thats just because they give something to you, they make you "feel good", simple holding of bitcoin doesnt make feel good (if yes, you are weird :-) ), so nobody will break the BAN).
What then... the price will crash to somewhere almost worth nothing, and stay there forever (if the ban is clear, loud, decisive, documents are signed and its accepted internationally within many states, the bitcoin is DEAD and the ONLY thing that could ressurect is the change if the BAN from gov.)
I own little bitcoin and im not a beliver really but also im also not againts bitcoin... I would like to see bitcoin get to 1 000 000 $ because i might get rich :-) . But dont you get it people how fragile it is and how easily it can be destroy...? What would be the reason for holding bitcoin if you would be certain that for gov. its a dead project and NO (!) merchant in their right mind will EVER again accept bitcoin?? Sure, it might be and "underground" internet currency but that would be used only by a few people and the price would be really low...
And belive me, the recent thing with some "pseudo" ban on bitcoin from China would be NOTHING compered with the decisive paper, signer agreement amongs few important states... And even the chine weird pseudo ban slashed bitcoin to somewhere around 380 dolars :-)...
And also, belive me i really dont think that any GOVERMENT gave bitcoin a real thorough think and consideration YET, if bitcoin starts to threaten some national currencies, you will see the circus, most gov i think dont take bitcoin too seriously stil, when they will, prepare for a quick ban by a simple hand sign of some paper document, voila, DONE.
The goverments can print their own money (Well ok, the central banks) and THEY WILL NEVER give this sweat, sweat, SWEAT advantage away.
So whats your take on this, why do you think gov wouldnt act in the future in the most probable way that i just drawed?
