Bitcoin's End Game

[davis196]

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.

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. 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. 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).

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?

If the governments around the world really want to ban and destroy Bitcoin,then what the hell are they waiting for?I don't think that's the case.Some countries have projects about central bank cryptocurrencies but there's no result and everything is in the very beginning.In most countries,bitcoin is considered a "digital asset".It's not legal tender and an actual currency,but you can trade it.
This topic has been discussed 100 times before.Nobody knows what will happen and nobody can predict the future.I think that bitcoin will survive a global ban,but the BTC price will fall below 1K USD and BTC will be used only in the darknet marketplaces.

[maydna]

I guess bitcoin will not going end soon because bitcoin still not too popular in all countries and we know that not all countries accept bitcoin, so bitcoin still have a chance to grow more than now. Related to the government, we don't know what will they do with bitcoin, and if they want to launch their own crypto, we also don't know what will happen later. Bitcoin can get ban from the government, and that will easy for them to do that, but I am not sure if they really want to ban bitcoin.

If they force people to use their currency still, I think that will be a big problem in their country, especially if their people know and use bitcoin personally. There will be a demonstration from people that will happen in that country because they will reject their government not to use bitcoin.

But that is only a possibility of what might happen, and we don't know for sure.

[XCANA]

Let's be frank to ourselves, the government of the world have some stash of Bitcoin on their confers like that of the United States of America, though they often go by auctions in mist cases. How can someone who have tasted a nice food turn down the same food just because of envy? Though its possible but very rare to happen.

My take is: Bitcoin will stay with the world and be use for reserve for all potential government in the future. Banning Bitcoin will add more injuries to the current crisis on world economy. Am not seeing the possibility of Bitcoin abandonment.

[Janation]

I agree that we do not know what may happen but if the government is wanting to drop Bitcoin down, I guess they've done that earlier and never letting Bitcoin exist longer than 4 to 6 years.

I guess we will be really seeing Bitcoin side by side with each country's digital currencies. Though I don't see Bitcoin being a payment method but a asset with a huge price in the future. With digital currency as a mainstream currency, Bitcoin will be used and transactions will explode and that might be the reason why government would want to take down Bitcoin. We have technologies that can or might take down the system, saying this, still, we don't know what can happen.

[BlackFor3st]

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.

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. 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. 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).

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 am also concerned that this time will come in the future, knowing that most of the governments wants to have a control over the digital assets that will be use in their respected country. Once the digital payment will fully replace fiat someday, there is a big chance that what you have said will turn into reality.

Once almost all the governments will unite in banning or exchange crypto currencies into their local digital currency, the crypto users will surely face difficulty in cashing out their money from crypto currencies. Once it will happen, the era of crypto currencies will likely to fade slowly but if all the governments will not prohibit the usage of crypto currencies then crypto will be part in the future modernization.

[igglyboo92]

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.

What does one have to do with the other??

Governments don't seem to care much about BTC. They are regulating it like a commodity and regulating the shit tokens like securities i.e. stocks. At the end of the day Bitcoin will probably end up like any other Wall Street traded commodity. Gold, platinum, crude oil, coffee, and so on and so forth.

[Reatim]

Let's be frank to ourselves, the government of the world have some stash of Bitcoin on their confers like that of the United States of America, though they often go by auctions in mist cases. How can someone who have tasted a nice food turn down the same food just because of envy? Though its possible but very rare to happen.

My take is: Bitcoin will stay with the world and be use for reserve for all potential government in the future. Banning Bitcoin will add more injuries to the current crisis on world economy. Am not seeing the possibility of Bitcoin abandonment.

And why would the countries that adopted bitcoin will throw the opportunity they have in this market?and just recently Bitcoin is unbanned in India in which one to the biggest country that people invested in this market.

Counting South Korea also now boarding Bitcoin  to their economy so we are seeing much bigger support this coming days.
 
Bitcoin will continue to grow and will never die even how many countries are denying this.

[amishmanish]

One thing is sure that there is no endgame for Bitcoin. And if there is, then we are The Avengers. Everyone thinks the Governments are inevitable, like Thanos but we have The Hulk..

Bitcoin's increasing usage and adoption through regulation has already led it to giving shape to a knowledge based economy in developed countries and amongst the more tech savvy users. I think this will continue as it is impossible to stop the idea of every person being his own bank.

[Assface16678]

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.

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. 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. 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).

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 am also concerned that this time will come in the future, knowing that most of the governments wants to have a control over the digital assets that will be use in their respected country. Once the digital payment will fully replace fiat someday, there is a big chance that what you have said will turn into reality.

Once almost all the governments will unite in banning or exchange crypto currencies into their local digital currency, the crypto users will surely face difficulty in cashing out their money from crypto currencies. Once it will happen, the era of crypto currencies will likely to fade slowly but if all the governments will not prohibit the usage of crypto currencies then crypto will be part in the future modernization.

Many people right now are using the cryptocurrency for their transactions because we all know that the crypto is one of the fastest and trusted transaction that's why many people today now are using this to transfer their funds to make more earning and today there are some countries accepting the use of it and that was a great news to all of us because the market price of the bitcoin will go up rapidly again because they are now allowing to use of it, still there are some countries does not want to accept the use of bitcoin because they are afraid all the things may happen with the use of it because they think it is not secured. But to the other country allowed it there are some instance because they need to limit all of the transactions to avoid having a large amount of data and funds transfer to an unknown device or user, still, it was huge if the bitcoin will end soon, many people will affect on that and their earnings. We are looking forward to making more profit with the use of bitcoin and I think it is not the end we are just heading to the future.

[Sebas.tian]

As long as there are men who tend to personal freedom and therefore also to financial bitcoin will not die. If men all became unconscious slaves of the system, then bitcoin would cease to be used.

We're not ignorant of what brought into existence this said technology (Bitcoin) so going back to enslavement will be difficult for those who are already free the hoax of the government. There will be more adoption of Bitcoin and this will drive both the institutions and cooperate to adopt Bitcoin. When this happen, the government will have no choice to adopt it. As you have rightly said, the decision from the government to cease or ban Bitcoin worldwide will be difficult.and if it happen, something shitting like surveillance coin will surface.

[alexsandria]

As long as there are men who tend to personal freedom and therefore also to financial bitcoin will not die. If men all became unconscious slaves of the system, then bitcoin would cease to be used.

We're not ignorant of what brought into existence this said technology (Bitcoin) so going back to enslavement will be difficult for those who are already free the hoax of the government. There will be more adoption of Bitcoin and this will drive both the institutions and cooperate to adopt Bitcoin. When this happen, the government will have no choice to adopt it. As you have rightly said, the decision from the government to cease or ban Bitcoin worldwide will be difficult.and if it happen, something shitting like surveillance coin will surface.

Actually one of the negative effect of this is the ignorance of the many people who are doesn't know what is cryptocurrency or bitcoin or what is the new technology right now but when the government adapt it there should be a massive adaptation among the country and its citizen so it would be really good if these two oceans will cooperate to attain this massive adaptation of bitcoin but this would not be happen if the government will still ignore day adaptation of cryptocurrency or any other coins. If they will continue to sees the banning of bitcoin worldwide and all the countries specially the government then this would probably will be a hard problem or big problem for us.

[Sebas.tian]

I don't see it coming in the future. The fact that there are countriew that openly accepted cryptocurrencies like in Europe is enough to get a strong foundation. And just recently India and South Korea uplifted its ban, so I don't really see it coming for now.

I agreed with your submission, apart from Europe accepting cryptocurrency and some other countries we know, the France authorities have recently open and legalized the cryptocurrency in their continent, which to me sound too positive for any government to kick against the said technology to be ban again. We have seen South Korea and India uplifted their ban to allow the use of cryptocurrencies in their territories. Am not  seeing the end of Bitcoin and doubt if it will come to pass either.

[imstillthebest]

One thing is sure that there is no endgame for Bitcoin. And if there is, then we are The Avengers. Everyone thinks the Governments are inevitable, like Thanos but we have The Hulk..

Bitcoin's increasing usage and adoption through regulation has already led it to giving shape to a knowledge based economy in developed countries and amongst the more tech savvy users. I think this will continue as it is impossible to stop the idea of every person being his own bank.

Bitcoin will surely survive and I think will definitely reach the future that we all want to happen on bitcoin. Witj many supporters of cryptocurrency, the traders, the investors, I don't really think that bitcoin will easily come to its end game. And bitcoin also, are slowly accepted in different countries that before it was banned.

we are already in the future and bitcoin slowly achieved the things that we wanted to happen for it  . if supporters are high , the number of bashers or haters also increase because btc is becoming famous   but this is great  because being famous means btc is active and the chance of btc going to an end is verry slim   . i also agree on your last sentence , infact ive seen lots of topics like that lately on this forum   .  many countries are now joining the union   . i can only think of goodies for now rather than thinking the negatives that could happen to btc  .

[Yatsan]

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.

Wouldn't it have been smarter to nip it in the bud years ago? Why let it flourish for 10-15 years, allowing for the possibility of mass adoption?

They probably had a wait and see attitude at the start, but then everything suddenly changed way too quickly. They couldn't suppress the growth as much as they thought they would, which lead to individual countries having different decisions regarding its adoption.

Ignorance is a huge factor as to why the masses would rather support centralized than decentralized. The word government has been implanted on their minds as something trusted, helpful and the like even though the government themselves are at fault for letting their countries be at ruin at certain parts. It's like they've been already brainwashed to stop caring about who to trust and just leave it all up to the government.

[pixie85]

If your biggest concern is bitcoin disappearing because governments that launch their own currencies will ban it you can stop worrying and do something productive instead.

Not all countries are planning to launch their own cryptos. Even if 20% of the countries in the world do it not all will ban Bitcoin. Many will give people freedom of choice. Germany has already stated that Bitcoin is officially recognized as an investment.

People will migrate to countries where freedom is something more than just a word

[KrisAlex18]

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.

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. 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. 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).

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 that it would happen to bitcoin, bitcoin is being so popular all over the world, so I doubt that it will end so easily, there are a lot of countries that already accept the bitcoin in their land, One of which is the supreme court of France that accept the bitcoin as their money, and add subject about cryptocurrency in curriculum, which is really good for them because they will be so familiar with the use of cryptocurrency. Another country is the New York, they planted a generator only for the bitcoin mining machine, they spent so much money to implement and create that project but it is really worth it, because as of this year they earn 50,000$ everyday, and that project is still new, so I think it would be better in the future, and for sure they will earn more than that.

Bitcoin has so many benefits for each and everyone so do not think that it will end in the future because there are a lot of countries that will fight against the end game of this cryptocurrency.

[Casdinyard]

The Government doesn't really have the power to force the owner of each bitcoin nodes distributed across the world. As a result, bitcoin will stay functional until there is an existing node that will support transaction records and transactions.

But thinking about the factors that could eliminate bitcoin in the world, I only see a decrease in demand for bitcoin as the only risk we should fear. Bitcoin could survive even a nuclear war based on some sentiments which I couldn't find right now, and bitcoin isn't breaking huge support for its price to go down too much.

Let's take this meme as an example.

Image link

It's quite a dark humor but this signifies that bitcoin is included in the demand of the people now. Which is to use an alternative currency because of the fact that money is a factor of spreading the COVID Virus. It will further increase in demand and the risk for bitcoin which is stated by OP's quote regarding government might will then become a turntable for Government's decision of running their economy and people's health.

[michellee]

The Government doesn't really have the power to force the owner of each bitcoin nodes distributed across the world.

It is right. People will choose what they want. But bitcoin will not end so soon, and I think bitcoin still have a long time to survive. But I hope the government will not ban bitcoin existence, but they will support bitcoin too as they will have their own currency in the crypto market. But let see what will happen later.

Bitcoin could survive even a nuclear war based on some sentiments which I couldn't find right now, and bitcoin isn't breaking huge support for its price to go down too much.

Yes, that is right. But as long as the internet connection still exists, people can access bitcoin, but I think in that time people want to survive for their life.

[philipma1957]

It's no secret that the entire crypto space is largely dependent on centralized infrastructure (centralized exchanges, centralized wallet services, etc).

this is not true. the fact that people trade on exchanges and some newcomers use centralized custodial wallets doesn't mean bitcoin relies on centralized infrastructure!
and thins like centralized exchanges are popular and used because they are most convenient right now compared to the alternative and since there is no problem in using them, people don't bother working on any alternatives.

People will not want to use something that's considered "illegal" by worldwide governments.

last time i checked there was no such thing as "worldwide government"!

not many people will support it (only libertarians, geeks, anarchists, etc.).

this would have been true if such theoretical ban came back in 2008 to 2009 not in 2020-2030+ that a very large number of people have already adopted bitcoin and a million dollar industry has been built because of bitcoin.
at this point it is like talking about government banning usage of the internet!

Interpol and the UN are world wide.  Or close to world 🌎 wide.

As to the vast majority of countries banning cryptocoins I don’t think they will do it.

There are a lot of cheap and easy ways to attack BTC. Government bans are costly or stupid.

[desertfox470]

Indeed nothing lasts forever but I do not think that Bitcoin will be ending anytime soon. If the beginning of government's interest to create, navigate and circulate a centralized digital currency would be the end of Bitcoin, I don't think that it is happening soon. Every nation has a different government system, capacity to fund resources and technological advancements. On the contrary, the government of some countries has been very open with cyrptocurrencies that they tolerated different establishments to engage with transactions using Bitcoin. Also, I think that even if the government would start circulating their own digital currency to compete with Bitcoin, they would still choose the latter because of its features that they were enticed with foremost as to why they engage with cryptocurrencies.