What is the biggest threat to Bitcoin?

[jaberwock]

I don’t know if there is still the 51% attack problem, it’s like that has been resolved or maybe not, but I have not been seeing any news about it lately or anyone talking about it. So, I wouldn’t count that as a threat. Right now, I think the number one threat would be the government.

Although before I don’t used to believe that the government can be a threat, but right with all the things that has happened in places like China, I’m starting to see them as a possible threat for Bitcoin. I have read stories on how the government in China has blocked up every means that miners can use to withdraw their earnings and are making it hard to exchange Bitcoin. Such a situation can discourage people from making use of Bitcoin.

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[aemma]

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.

Everyone is really happy this past days, the market is green and Bitcoin is making it more enjoyable and rewarding, however, just as the crypto market is, there will be corrective retracement wherein the prices will drop, also just like you, I don't see that as a threat but as market reactions. However, asking if the bull run will last forever, I don't think anyone can answer that question because no one can predict anything. On the other hand, about threats that Bitcoin will likely face, I think it will still come from the government. The reason is, market sentiment and emotions will always be there, and once the government says anything unfavorable to the market, people will react to it and the result will be seen in the market. Lastly, there is no way to ban Bitcoin now, because it has grown so much, so valuable, so strong and out of control of the government.

[Lorence.xD]

Why do people keep on thinking that the government can ban bitcoin? To ban bitcoin, they will have have to ban the central authority in their country. But bitcoin is decentralized and has no central authority. To ban bitcoin, the government will have to "ban everyone" that is helping the bitcoin network stay active which is impossible. If it was possible, wouldn't the government all around the world already put a ban on p2p torrenting? Secondly, the government can't suddenly tell its people to stop using bitcoin and abandon everything they have.

They can do it, if you are underestimating the capabilities of your cy then you are dead wrong, they have the ability to ban websites and services that are connected or even acquainted to bitcoin if they want. There might be some that will slip through the cracks but the witch hunt will be unforgiving if they want to and financial institutions will be in support of the government effort to eradicate traces of cryptocurrency because it is a threat to them ever since.

[Wexnident]

The death of the internet maybe? Though the chances are highly unlikely so that may just be a stupid opinion I dropped.

In my opinion, the biggest threat to Bitcoin is hackers and also permission from the government. These hackers can take the Bitcoin that we have. while the government has full control over what happens to the economic turnover of the country. And this also stings Bitcoin as an investment asset.

Uhm, no they can't, if you fully use how Bitcoin is supposed to work that is. And as for the government, no they don't have full control over the economy. I'd like to think of it as a partial control, but full control? Nope. Cause if so, then the progress would have been mostly positive all the time, and no recessions or what not could've happened. They at most could take advantage of disasters in the market to profit, but that's about it.

They can do it, if you are underestimating the capabilities of your cy then you are dead wrong, they have the ability to ban websites and services that are connected or even acquainted to bitcoin if they want. There might be some that will slip through the cracks but the witch hunt will be unforgiving if they want to and financial institutions will be in support of the government effort to eradicate traces of cryptocurrency because it is a threat to them ever since.

The chances of that happening are as close as what I thought of a threat is the death of the internet. Really, it isn't impossible, I agree, but what are the chances of it happening right? I'm pretty sure you're supposed to think of threat levels together with the chances of it happening.

[chretienm]

But the majority still don't understand and listen to what the government tell them to do. Most of the population in the world are fools or gullible?

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.

[Sterbens]

I think everyone agrees that the government and its policies are a threat to the bitcoin movement. then added with the threat of internet hackers.
but here, let me add some other threats to bitcoin based on what I know, including:

first the miners and bitcoin users themselves, the reason is because if there is illegal transaction activity that takes advantage of bitcoin anonymity, it is synonymous with illicit trade.

the second is altcoins, the reason being that many cryptocurrencies have more features. such as litecoin or stellar which is currently dubbed a cryptocurrency that can steal the throne of cryptocurrency from bitcoin.

[Traderbtcc]

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. 

I think this feelings are common during any bull rally, everyone will just expect it to keep going up, but ofcourse retracement will surely occur, after that will keep surging ahead if there are more hypes  , but from what have learnt over the years in the crypto market is that,
Nothing goes up forever, it will just make an ATH, then bearish reversal will kick in, we can't expect it to go up forever.

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.

At the moment I don't see anything that will pose a threat to bitcoin bull run apart from the government, cause just one news about bitcoin been banned in one world power country like the US, that will definitely stop the bull run we are in now.

[n0ne]

Whenever the market turns bullish only the positive vibes were kept alive by the whales. This means the positive news only circulated avoiding the negative news. Maybe when the market turns bearish more speculation with the negative thoughts reach the market. We can't term anything to be a threat to bitcoin or the bitcoin network. It is the whales who make the market fluctuate. Even now if a huge fund is being transacted, automatically it'll be taken into speculation.

[NelfiNovita]

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.

yes, one of the threats of bitcoin is that if the government issues a regulation to ban bitcoin, besides that I am also afraid if there is a paralysis of the internet network throughout the country.  all trading activity in the crypto market will stop so that bitcoin and altcoin can no longer be used.

[gentlemand]

The threat is from within. Either its users simply losing interest or enough participants hijacking it and throwing away it core principles. We see every single day people whining about fees and slowness when the reason for that is to maintain the reasons people are here in the first place.

Most people seem to want Paypal by another name and it's only the more informed and influential few who stop it from happening. Maybe one day they'll be overpowered or just leave in a huff.

[ekeh]

Bitcoin bullish Market since early this month, has been making progress on other alt-coin like ethereum and other's has taken the advantages of being on bullish stage. Therefore, the biggest threat of bitcoin is when there is a bad news against bitcoin on world power economy.

[yazher]

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.

As of now all of the major threat cannot stop the rising of the price of bitcoins in the market but with another new threat which is not on our current list, we will say it could stop the current progress of the price like what happened in the year 2018 where a Japanese exchange got hacked and the price of bitcoin has fallen since then. thankfully such an incident will not result in a price fall this year cause it has nothing to do with bitcoins anyway. 

[Prince Malik]

In my opinion, the biggest threat to Bitcoin is hackers and also permission from the government. These hackers can take the Bitcoin that we have. while the government has full control over what happens to the economic turnover of the country. And this also stings Bitcoin as an investment asset.

But hackers didnt threat just bitcoin...hackers are in every sectore and even the banks can be hacked
I think the ban of bitcoin from some governements is the think that we must be afraid of

[uneng]

The only real threat to bitcoin is a competitor currency. So far there isn't any. Ethereum is the one which reaches closest to bitcoin and I think we can't even say it is a threat.
I'm pretty sure It will take a long time yet until a competitor appears, so bitcoin is safe to rule crypto universe. Another threats like bans and regulations don't bother me, because I believe bitcoin enthusiasts won't follow such restrictions if they happen. There are countries which are unfriendly to bitcoin, but others are friendly, what means enthusiasts can move themselves to these good countries if things go bad in theirs.

[Thzo]

Right now in the crypto world, it is obvious that the name bitcoin needs no introduction but the biggest thread in bitcoin will face is being banned, some country really buy the idea of bitcoin and some don't ,so I think it's only threat is being banned.

[chretienm]

Agree, I also believe the biggest threat can be only from some prohibitive government regulations.

Right now in the crypto world, it is obvious that the name bitcoin needs no introduction but the biggest thread in bitcoin will face is being banned, some country really buy the idea of bitcoin and some don't ,so I think it's only threat is being banned.

[Eureka_07]

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?
<snip>

The posibility of the governments regulating the trade of bitcoin to their country is indeed one of the biggest threat that Bitcoin might face. Regulating it might cause some serious downfall to bitcoin's adoption, it may cause rejection and might eventually lose some of it's value.

Other candidate big threat should be the effects of ALL bitcoins being mined, causing miners to rely on transaction fees as payment to their job. I think the tx fee for bitcoin on that time will increase dramatically since miners will rely on tx fees.

[pepeepe]

Since BTC captured the imagination of people there has been growing interest in crypto currency, while some of the government have recognized the potential of this technology many are avoiding to announce it has a legal asset. However this has not impacted the reputation but it's been a serious thread to BTC as still many are scared to invest I believe this issue will be resolved in couple of years and it will be made legal across the globe.

Cryptocurrencies are now very popular in all countries of the world but sadly there are still some countries whose governments have not fully legalized cryptocurrencies here but the way cryptocurrencies are gaining popularity we can expect good sites of cryptocurrencies  Understand that cryptocurrency will be legalized in all countries on that day

[usekevin]

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.

Panic selling is biggest thread to bitcoin price all the time.Because when the price reduced to 17,000$ from 19000$, most of the new traders had sold their holding less volume bitcoin at the maximum price they offered by the buyer.But it had affected the price of bitcoin further more and the price had reduced further and made below the 17,000$ and make a huge panic selling further.

[Wysi]

I think institutions and whales are biggest threat to bitcoin as government or regulators will only make attempts to create panic among people by banning Bitcoin which is not possible at this moment but whales are already involved into Bitcoin share as they hold huge amount of Bitcoin using which they can steer the market price which will make it like a gambling so Bitcoin might somewhere lose it's decentralised nature when people or group can control it.