Bitcoin's End Game

[Leviathan.007]

There can be many scenario about it. For example after fight some governments against bitcoin (mostly because of money laundry, drug deals and losing price comparing to bitcoin) they will find a way to defeat bitcoin by stooping people buying bitcoins and suspending exchanges. Just like what US done to the bitinstant suspended. and they other scenario can be someone with some new method try to hack some wallets.
Also any technical issue in the network can be the reason of bitcoin's end game.
After all these I saw I think there is less than one percent chance for all the scenarios to be happen if the future.

[1715010397]

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[Slow death]

Have you ever been concerned about Bitcoin's longevity in the mainstream world as a decentralized cryptocurrency? While BTC has been going strong since 2009, there exist the possibility that it could vanish from existence sometime in the future. After all, we know that nothing lasts forever.

bitcoin is only a few years old and still does not have thousands of people worldwide using bitcoin bitcoin, which opens space for more adoption and longevity of bitcoin itself

My guess is that once governments start circulating their own digital currencies, they will try to crackdown on Bitcoin and other cryptocurrencies as we know them.

if governments wanted to crack down on bitcoin, they would have done it many years ago, it wouldn't make sense for governments to crack down on bitcoin when they are already recognizing bitcoin with each passing year

It's no secret that the entire crypto space is largely dependent on centralized infrastructure (centralized exchanges, centralized wallet services, etc). People will not want to use something that's considered "illegal" by worldwide governments.

as i said before governments are recognizing the existence of bitcoin, look at how every year more countries accept their people to use bitcoin, look at how more and more traders accept bitcoin every year. look at how every year regulators are taking measures that benefit bitcoin and eventually everyone in the world will use bitcoin without a problem.

creating a government digital currency to compete with bitcoin will be a very difficult task for any government and governments know it.

Most practical solution:

Governments accept bitcoin, but put KYC on everything that is centralized and supervise everything that is centralized, this is the most practical solution and governments know it!

While it'll still be possible to continue using Bitcoin regardless of government bans, regulations, etc, not many people will support it (only libertarians, geeks, anarchists, etc.). By that time, it'll be nearly impossible to get access to Bitcoin with Fiat currency or even exchange Bitcoin to Fiat (as the government crackdown will make all centralized exchanges to cease their operations).

I think you are mistaken, there are many people who will be happy to buy bitcoin when they have regulations made by governments. The rich (those who have a lot of money) will be satisfied if they have guarantees that they will not be trading on scammer exchanges or on exchanges that manipulate volumes

Considering that governments want to stay in power, they'll do anything to force people to use their Central Bank Digital Currencies (CBDCs) instead of any other alternative payment system. If that happens, Bitcoin will be doomed.

if this option were very easy, don't you think that governments would have already done this?

Do you think that we're close for Bitcoin's End Game to happen? Will it ever happen? What are your thoughts?

we are at the beginning, the beginning of a great and long and good path

[RememberGod]

Considering that governments want to stay in power, they'll do anything to force people to use their Central Bank Digital Currencies (CBDCs) instead of any other alternative payment system. If that happens, Bitcoin will be doomed.

Do you think that we're close for Bitcoin's End Game to happen? Will it ever happen? What are your thoughts?

I don't think there will be the end of bitcoin this way.

First, you are not the only one who likes bitcoin. In fact, many strong and rich people would love to move around tens of millions USD secretly. And some of them, surely, work for governments. Probably, that's why bitcoin wasn't banned in 2011 - 2016 when there were loud notorious cases like Silk Road to force ban bitcoin straight away.

Secondly, there will always be countries and jurisdictions that would love to host bitcoin exchanges just like we have offshore banks since... Always? 1980s.

Thus, there will always be ways for bitcoin to exist. The unlikely nightmare would be the world turning into one country with totalitarian regime. But then we would have much more serious problems.

P. S. Rename your home wi-fi network to Bitcoin and we'll win, believe me, lol

[Abiky]

Indeed, nothing lasts forever but that does not mean bitcoin and exchanges and other things will be destroyed, when the government has its own digital currency or whatever they make themselves related to crypto or to topple the crypto market it will only become a fair competition, because even something that is illegal so far such as the black market, porn videos etc., still persists and that proves the government does not have much power to undermine something that has become the interest of many people in the world.

The fact that Bitcoin's code is open source, allows anyone to maintain the longevity of the project for many generations. Bitcoin’s “doom” would’ve been certain if the same was entirely centralized. Luckily, Satoshi designed Bitcoin as an open and decentralized cryptocurrency that's able to "stand the test of time". No matter what governments' efforts may be, there will always be a way to use Bitcoin. A full government crackdown will only affect people's ability to get access to Bitcoin through centralized exchanges. But it'll still be possible to trade Fiat to Bitcoin (or vice versa) in-person without the government noticing. In addition, people can use decentralized exchanges or even atomic swaps which are outside the scope of the authorities. The only way to totally disrupt Bitcoin is to shut down the entire Internet from the whole wide world. But you and I know that's practically impossible to achieve.

Considering that it's very unlikely Bitcoin will be facing an "End Game", it might survive alongside Fiat for many generations. You and I won't be able to live after all Bitcoin are mined by 2140. But I'd expect that Bitcoin will be widely successful in the future as a decentralized safe-haven asset for the world. As long as there are people supporting Bitcoin in every way, nothing should go wrong. Just my opinion

[retnoanjani]

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Considering that it's very unlikely Bitcoin will be facing an "End Game", it might survive alongside Fiat for many generations. You and I won't be able to live after all Bitcoin are mined by 2140. But I'd expect that Bitcoin will be widely successful in the future as a decentralized safe-haven asset for the world. As long as there are people supporting Bitcoin in every way, nothing should go wrong. Just my opinion

Today we can see that bitcoin adoption is becoming more widespread. This is a good sign, moreover, bitcoin is very compatible with technological developments, becoming a lifestyle of modern people. When ever we can have an effective currency for investment, trade, and even make cross-border payments without complicated requirements. Without waiting too long or until bitcoin is depleted, we can see that bitcoin can be something shining.

[Jorge158]

Have you ever been concerned about Bitcoin's longevity in the mainstream world as a decentralized cryptocurrency?

Not really, because Bitcoin has the backing of the government-sponsored media and banker-funded institutions like Blockstream.

The longevity of Bitcoin is not debatable because as the world moves forward and gets more digital, Bitcoin grows in essence. Now, adoption has grown way up comparing it to years back. This shows how people become interested in Bitcoin and cryptocurrency after reading the concept and whitepapers of some projects.

[Abiky]

Today we can see that bitcoin adoption is becoming more widespread. This is a good sign, moreover, bitcoin is very compatible with technological developments, becoming a lifestyle of modern people. When ever we can have an effective currency for investment, trade, and even make cross-border payments without complicated requirements. Without waiting too long or until bitcoin is depleted, we can see that bitcoin can be something shining.

That's certainly true, mate. Bitcoin has already gained mainstream recognition, while that's not the case with some altcoins on the market. It's the first cryptocurrency that comes to mind, when someone is looking to join the world of crypto. After all, Bitcoin is the "Father of Blockchain technology". With 11 years of success, it's hard to think that it'll die anytime soon. On the contrary, it seems that Bitcoin will experience massive growth in adoption over time due to its unmatched security and reliability unlike any other cryptocurrency on Earth. The reduced block reward every 4 years should make Bitcoin more attractive as a sort of long-term investment. As development grows, Bitcoin will become a rock-solid cryptocurrency that's hard to "tackle" with.

The only way Bitcoin will be facing its "End Game" is if all governments worldwide conspire against it by shutting down everything single centralized exchange trading it. Aside that, the whole Internet needs to be taken down to stop the Blockchain from operating as intended. But that's very unlikely to happen given that countries can't agree unanimously on decisions. I don't expect another cryptocurrency to emerge with a superior tech than Blockchain, at least during Bitcoin's last mining period in the year of 2140. Gold has been in use for a very long time, so I believe that Bitcoin will live on for many generations no matter what. Just my opinion