What is the biggest threat to Bitcoin?

[Natalim]

Bitcoin is more powerful than others.We hope it will achieve his goal as soon as possible. Question is biggest threat to Bitcoin. My option is the biggest threat to Bitcoin is hackers and also permission from the government.

The government may considered one of the big threats in bitcoin because if bitcoin will stay not legal in their eyes, then they will surely continue to ban bitcoin as much as they want. This will definitely create a hindrance to achieve bitcoin's goal price. But if they can gain taxes from every bitcoin's transactions, then it will be more favorable for them. The government will benefit from it and will use that taxes even into their own personal interests.

Another big threat to bitcoin i think are the big whales. They are the reasons why bitcoin prices tend to fall back despite of being very bullish. This happens most of the time because they are trying to manipulate the crypto market but always end up into committing failure.

[Questat]

What do you think can be the biggest threat for Bitcoin in current situation? In my opinion it can be only some sudden governments shift in regulations and laws to ban Bitcoin (which I don't really think may happen), otherwise there are basically no obstacles or threats.

This has been asked almost 1 year ago and I think this was the right moment to answer this question.

Well, it has to hear that some countries are keeping hated Bitcoin like China, some countries who ban crypto were also lifting it, and while had officially legalized this. Those countries who already adopt and legalize crypto will surely be imposing laws and strict regulations but I'd never find this as a threat for crypto but seeing this as additional protection to all crypto holders unless we are doing illegal activities.

[Kasabus]

The government will always be the biggest threat to Bitcoin because they have the power to ban it. Look at China and how they banned any cryptocurrency from being traded if all governments decided to ban Bitcoin then it would be very difficult to trade Bitcoin to fiat I would say unless you are buying Bitcoin with cash it would be impossible since the government could track it. Even if cash to Bitcoin was possible most people would not want to do it because they would have to reveal their identity and there are other security risks when dealing in person. I think most people including me would stop using Bitcoin if it was made illegal.

Absolutely you are right on this statement and it is impacting on the total price of Bitcoin all over the world. I don't know why government are afraid of it. It's a digital currency that will help in economic system but they seem that it will be harmful step to accept bitcoin. Hopefully they will understand the value of Bitcoin very soon.

The government will always be a threat to bitcoin just like bitcoin which is a big threat to fiat. As long as the government does not learn to accept bitcoin legally, then it will always be a big threat. And i think this will last for long since the government won't allow bitcoin to be a reserve currency simply because its decentralized. Big countries too like China and US continue to impose strict restrictions and even banning on bitcoin even if we know how these two countries were bag holders of bitcoin. In the end, its always clear that US is protecting its US dollar while China is protecting its yuan.

[Rampagoe004]

If the government prohibits the use of bitcoin then this is the threat that we feel as bitcoin users, because the government ban is something that we must obey even though we have ambitions to continue to use but the risks we face are very fatal, then we always hope the government should be able to accept bitcoin and can use it to increase state revenue although the way that must be done is a lot of criticism from various parties but if it can be benefited everyone can accept it.

[Rajamuda]

Over time, Bitcoin has proven to continue to get support from time to time with various situations and conditions of human life, it is even more in demand and more and more people are attracted to Bitcoin as a complement in terms of filling efforts to drive income, even many people have made it into their main job.
This seems uncertain, but in fact.. the uncertainty seems to be directed at good hopes for humans, it's just that the whole government has not really made it official for their country, and it looks like is not a big threat.
Well, I don't think at all that Bitcoin will lose its value until it weakens and disappears without any more enthusiasts due to some threats/issues, that seems unlikely.

[Ebede]

In my opinion it can be only some sudden governments shift in regulations and laws to ban Bitcoin

the biggest threat to bitcoin has always been people who don't understand what a decentralized censorship resistant currency means while thinking what the government says about bitcoin matters.

This has to with government policy,all because the rate at which bitcoin has spread vastly and widely is so alarming...but most selfish interested government ain't getting what they want from this and not in full control of what there country does.
I think not been able to control what's in you country is very bad, they're the highest block to Bitcoin.

[ringgo96]

For now there is no serious threat that hit the crypto world, although there are some countries prohibiting crypto but the use continues as usual, the news spreading now the government began to ban cryoto users throughout the country but this has not been fully responded to by the wider community because they have also previously made statements about the use of crypto, If a country actually implements a crypto ban then this will be a serious threat to the population of that country because if we continue to force then we will definitely deal with the law, and the effect will also affect other countries and the value of crypto.

[Wildwest]

Many threats that hit the crypto world today because with the increase that occurs then the security applied is also higher, the threat from hackers is also very worried because if this is a loss received very large by certain parties, but for now the threat from the government is happening in some countries, especially chinese countries that prohibit people for crypto use, This can also be a serious threat because we are dealing with the law but for now the ban is not fully implemented so we as crypto users still feel safe.

[Rufsilf]

I think the biggest threat and most obvious issue or problem to bitcoin for now is getting banned by government. But not for long term banning because the government may ban it so that they can study or know the bitcoin more to prevent its citizen to launder money in the form of crypto assets or even commit fraud. But as long as the government sees no issue about the network and it's safe to use then I think it's not possible that they would ban crypto nowadays.

Hackers on the other hand doesn't impose much threats on bitcoin because it is a decentralized network and they would have a hard time just to crack it.

[peter0425]

Bitcoin is more powerful than others.We hope it will achieve his goal as soon as possible. Question is biggest threat to Bitcoin. My option is the biggest threat to Bitcoin is hackers and also permission from the government.

Hacker issue is our own diligence , remember that hacker wont penetrate if you know how to keep safe your funds and that cannot be blame from bitcoin itself.
adn about government permitting bitcoin? this is soon to come as we can see there is already a country that finally adopt bitcoin and sooner there will others to follow.

the biggest thread to Bitcoin is "US" , we are the thread to bitcoin if how we will handle our use and investing in this currency , because the power of bitcoin lies to our hands .

[A891756]

One of the biggest risks for bitcoin right now is regulation. In recent weeks, China has clamped down on its cryptocurrency industry, shuttering energy-intensive crypto mining operations and ordering major banks and payment firms like Alipay not to do business with crypto companies.

[Shasha80]

For now there is no serious threat that hit the crypto world, although there are some countries prohibiting crypto but the use continues as usual, the news spreading now the government began to ban cryoto users throughout the country but this has not been fully responded to by the wider community because they have also previously made statements about the use of crypto, If a country actually implements a crypto ban then this will be a serious threat to the population of that country because if we continue to force then we will definitely deal with the law, and the effect will also affect other countries and the value of crypto.

There are several major threats to Bitcoin, including governments banning Bitcoin, scammers, hackers and Bitcoin abuse. All of these are indeed not
serious threats that can make Bitcoin die, because all these threats have solutions to overcome them. Of course all threats to Bitcoin will harm
Bitcoin users, because it can make the Bitcoin price fall. Fortunately the Bitcoin community is very strong, although many things threaten Bitcoin,
Bitcoin is still growing rapidly.

[Amejoaquim]

One of the biggest risks for bitcoin right now is regulation. In recent weeks, China has clamped down on its cryptocurrency industry, shuttering energy-intensive crypto mining operations and ordering major banks and payment firms like Alipay not to do business with crypto companies.

Not all regulation is bad.. However if any government properly thought about it, imposed reasonable and understandable regulations, more people would be entering the market and gonna make crypto more bigger in the future and I dont think they will pose a treat to eliminate Crypto, just adopt it in a way that serves them in benefit.

[Finestream]

For now there is no serious threat that hit the crypto world, although there are some countries prohibiting crypto but the use continues as usual, the news spreading now the government began to ban cryoto users throughout the country but this has not been fully responded to by the wider community because they have also previously made statements about the use of crypto, If a country actually implements a crypto ban then this will be a serious threat to the population of that country because if we continue to force then we will definitely deal with the law, and the effect will also affect other countries and the value of crypto.

There are several major threats to Bitcoin, including governments banning Bitcoin, scammers, hackers and Bitcoin abuse. All of these are indeed not
serious threats that can make Bitcoin die, because all these threats have solutions to overcome them. Of course all threats to Bitcoin will harm
Bitcoin users, because it can make the Bitcoin price fall. Fortunately the Bitcoin community is very strong, although many things threaten Bitcoin,
Bitcoin is still growing rapidly.

Its not a surprise that even though a lot of factors have threaten bitcoin, but all of them have never succeeded. Instead of pulling down bitcoin, bitcoin value is even gaining higher. For me, the biggest threat to bitcoin right now is that if all those countries who have adopted bitcoin will now turn their backs from bitcoin because they have been influenced by some developed countries, then maybe by that time we will see a huge decline in the price of bitcoin. But i know, things like those might temporarily ruin crypto, but i know it will always bound to recover again.

[isabellel2]

Given the general economic situation in the world, I think BTC is quite safe right now, as it is increasingly becoming an important prefix in the financial markets, and helping many people survive these difficult times. towel. because Bitcoin is too strong for the main man to ban it just, if not, why is the main mantle getting to know bitcoin but just want to know how to make sure people use it safely.Bitcoin is just one kind of thing. The decentralized currency that everyone knows about and is increasingly popular with, and even those who hate or ban it are starting to like it. This we see BTC increasingly asserting its position and its importance to everyone.

[vanessacummings]

Biggest threat to crypto is the government taking control over it or putting some unwanted regulations. Majority of the people are here only because of no government intervention. If it happens, cryptocurrency will lose its unique elements.

[witcher_sense]

Biggest threat to crypto is the government taking control over it or putting some unwanted regulations. Majority of the people are here only because of no government intervention. If it happens, cryptocurrency will lose its unique elements.

First, you need to learn how to distinguish cryptocurrency and bitcoin, because, contrary to popular belief, these are two different concepts in terms of the degree of decentralization. If, for example, a cryptocurrency depends on the authority of a single man or team of developers, if all the decisions about the future of the protocol are made unilaterally by its creator, then you will know that this particular currency can be or will be shut down by people in power. Also, governments can continue to regulate such cryptocurrency until it is no longer exist. Say, there is some privacy coin that was created by John Smith. John is the only decision-maker, developer, and therefore a single point of failure. In spite of these obvious disadvantages, the coin does work perfectly, and more and more people start using it to transact privately. The more popular it gets, the more attention it attracts from the government. They may come to John Smith, knock on his door and ask him politely to make his coin less private and more compliant with current laws. Otherwise, he may found himself in jail. John Smith will have no other choice but comply with the law, implement government-approved protocol changes, and KYC/AML procedures. Most people won't see a point in using a private coin without privacy, which will likely lead to the coin's demise.


It should be clear, at this point, that no matter how unique the features of a coin are, they will make no sense unless a coin is decentralized.

[oHnK]

that no matter how unique the features of a coin are, they will make no sense unless a coin is decentralized.

So far what I know about KYC is the identification system of the exchanger for all its users, here it can be said to provide an opportunity for regulators to find out who the owner of the address is.  However, as far as I know.  Even if you know who the owner of the address is or in the sense of not being anonymous anymore, a system that has been designed to be decentralized cannot change.  The role of the regulator is limited to making regulations and policies for fiat and its financial system.  However Bitcoin and crypto have different systems and are not controlled by one party but all parties who are part of the market.  I feel that the regulator will not be a very fundamental threat but only a challenge to the viability of an innovation, especially in the financial sector.  So, no matter how the government behaves, if the majority of people believe that the innovation is good for them, the government can't do anything.

[Kodok Bencot]

Everybody looks so happy and optimistic about Bitcoin bull rally, everything is going fine for the crypto king and many expect it to last forever including myself. Do you really think so? I'm not talking about some corrective retracement, which is healthy for the market too.
What do you think can be the biggest threat for Bitcoin in current situation? In my opinion it can be only some sudden governments shift in regulations and laws to ban Bitcoin (which I don't really think may happen), otherwise there are basically no obstacles or threats.

I think the biggest obstacle for bitcoin is that many countries have banned bitcoin, it seems at this time that many exchanges are implementing KYC so that the state wants to monitor all transactions that occur, if dangerous facts are found, of course the country will be totally banned and this is the beginning of all bitcoin problems.

[buruibu]

Biggest threat to crypto is the government taking control over it or putting some unwanted regulations. Majority of the people are here only because of no government intervention. If it happens, cryptocurrency will lose its unique elements.

First, you need to learn how to distinguish cryptocurrency and bitcoin, because, contrary to popular belief, these are two different concepts in terms of the degree of decentralization. If, for example, a cryptocurrency depends on the authority of a single man or team of developers, if all the decisions about the future of the protocol are made unilaterally by its creator, then you will know that this particular currency can be or will be shut down by people in power. Also, governments can continue to regulate such cryptocurrency until it is no longer exist. Say, there is some privacy coin that was created by John Smith. John is the only decision-maker, developer, and therefore a single point of failure. In spite of these obvious disadvantages, the coin does work perfectly, and more and more people start using it to transact privately. The more popular it gets, the more attention it attracts from the government. They may come to John Smith, knock on his door and ask him politely to make his coin less private and more compliant with current laws. Otherwise, he may found himself in jail. John Smith will have no other choice but comply with the law, implement government-approved protocol changes, and KYC/AML procedures. Most people won't see a point in using a private coin without privacy, which will likely lead to the coin's demise.


It should be clear, at this point, that no matter how unique the features of a coin are, they will make no sense unless a coin is decentralized.

I love your assertions but then again because the government doesn't have any principal to arrest for bitcoins sake, they are still creating FUD and putting in place stiff regulations that might crack BTC down which will obviously put fear in the mind of holders. But the good thing is that, no matter what, BTC will stand tall. So I still believe governments are the major threats.