What is the biggest threat to Bitcoin?

[gabbie2010]

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.

The biggest problem for bitcoin may be that the government will simply ban its use once and for all and all crypto exchanges will be outlawed. Of course, some advanced States that understand the value of bitcoin will leave it as a secondary tool, but in most cases, a complete ban will first lead to a decrease in the cost, and then to a complete zeroing of the price of bitcoin.

As it is now I don't think any government ban or restrictions will have any impact  or threat to Bitcoin again, so many past threats, clampdowns and restrictions has no impact at all, in the past it usually from Asian countries despite that Bitcoin has continue to wax stronger and grows leap and bound, these two features decentralized r and anonymous transactions had even make Bitcoin unique and standalone among the digital currencies.

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[mezzaluna]

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.

The only threat to Bitcoin that I can really see realistically is those people within governments that can control with if they have the knowledge regarding about it. It would take time but if they hire somebody that is into Cryptocurrencies, they can easily restrict use within a country which can be scary for users within that country.

[iTradeChips]

Well, in my opinion, the threats that face bitcoin right now are too small for bitcoin to even bother. After all, the coin now increased in price two times now that eventually, it only go up and not fall down. The financial sector are coming to a realization that maybe it is time to incorporate Bitcoin in their day to day dealings. Integrating Bitcoin to world markets, slowly but surely would also spell doom to fiat. Maybe, just maybe the fear of the financial elite that a digital coin will dominate the world economy might become reality.

[hatshepsut93]

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 always held the same view - if global players decided to fight Bitcoin, it would be in a very bad spot. All exchanges would close, so the price would crash hard, and liquidity would be reduced to a fraction of pre-ban levels. Same with adoption - Bitcoin would be pushed exclusively to darknet markets. Very few people would want to deal with currency/asset that can land them in jail. So, the fact that Bitcoin's network can't be destroyed does not mean that governments can't harm Bitcoin.

[TedMosby]

IMO, the biggest threat to bitcoin is the community itself, especially the one who are not well-educated about bitcoin. By mentioning community, I mean all the people who involved on this field, directly and indirectly.
When a missleading information about bitcoin shared by this kind of people, it could be repeated massively, and become a truth/fact. Just like how 2 bankers that I saw in separete times thinks bitcoin is a kind of MLM  .
Imagine this “well-educated” people on financial sector can make their customers/clients believe in their words about bitcoin easily.

[Kocret02]

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.

this rule primarily threatens bitcoin. because it is clear that if the rules from the government are implemented it seems that it will be increasingly difficult to own or trade bitcoin because the access given by the government to people is very limited and even prohibited. I hope the government doesn't pass the law that could ban bitcoin

[Janation]

IMO, the biggest threat to bitcoin is the community itself, especially the one who are not well-educated about bitcoin. By mentioning community, I mean all the people who involved on this field, directly and indirectly.
When a missleading information about bitcoin shared by this kind of people, it could be repeated massively, and become a truth/fact. Just like how 2 bankers that I saw in separete times thinks bitcoin is a kind of MLM  .
Imagine this “well-educated” people on financial sector can make their customers/clients believe in their words about bitcoin easily.

But that could be turned around immediately, right?

This community knows what is Bitcoin and what is not. There are a lot of threads they can read here in the forum and I think they trust the words of the people here rather than the words of other people talking about Bitcoin being a scam or a Ponzi scheme.

[Sithara007]

IMO, the biggest threat right now is not from the governments or from the competitors (altcoins). The biggest threat is still associated with the scalability. The volatile transaction fee and delay in getting the confirmations remains the biggest obstacle to global adoption of Bitcoin. Innovations such as Lightning were effective only to a certain extent and the core issues are still persisting.

[GeorgeJohn]

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.

See bitcoin has circulated to the extent government is even interested in anything about cryptocurrency especially bitcoin, so even those in government is even investing in bitcoin, so it seems that bitcoin can't be ban by  government instead it will keep on accelerating, I know very well that you are making a sense but it's impossible for cryptocurrency to be remove out right, if I may ask who are investors today in bitcoin, is still those government people.

[shoreno]

See bitcoin has circulated to the extent government is even interested in anything about cryptocurrency especially bitcoin, so even those in government is even investing in bitcoin, so it seems that bitcoin can't be ban by  government instead it will keep on accelerating, I know very well that you are making a sense but it's impossible for cryptocurrency to be remove out right, if I may ask who are investors today in bitcoin, is still those government people.

not all governments are the same though but theres actually government that are banning btc . government allowing btc didnt mean that they also invest on it but those that ban btc are no way to invest in btc . if ever theres government that invest in btc there wont be much of them so i can say that those who invest in btc daily are just normal individuals and sometimes companies and whales  . btc can accelerate in a way thay it can imroved its use or system but the price isnt because we can experience some dips from time to time

[cryptogod322]

I do not think that the current bull run will last long, soon it may turn into a bear market and we will again wait 3 years for a new bull run. Any serious news, including manipulative ones, can bring down bitcoin.

[carlisle1]

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.

It is common when season like this comes because for years that we are not having this wealthy market so yeah everyone is Expecting this would last longer.

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.

Government will always be in Negativity towards crypto Until the People will prove them how this is needed and why Bitcoin must be in circulation.
Our voices being Human must be heard so The government will have no choice but to Give it a way.

[TheUltraElite]

More investors are even interested in bitcoin despite of the current pandemic.

No. This is a wrong concept being common in this forum because this is a bitcoin forum. People in the pandemic needed liquid money and thus liquidated a number of assets, Not venture into more sectors. Use your logic and think of the situation and you will also understand.

Now why this concept is common here, because people here are always going to bullish on bitcoin. Fact is being bullish is not wrong but being blind without logic is fatal - let that not happen to you too.

A lot of people lost their jobs in the crisis, you cant expect them to go around buying some shitcoins or even bitcoin with the last few reserves they have, at least in a country where bitcoin is not even recognized well.

[xZork]

The biggest threat to bitcoin is that governments don't like bitcoin.
Bitcoin is a decentralized currency, so governments cannot regulate bitcoin and they don't like it. Chances are in the future how the government will introduce unfavorable laws for bitcoin.

[BuNga_cute]

Now Bitcoin is starting to be in demand by many people, because finally Bitcoin can return to an all time high price. Although the increase
in the price of Bitcoin had a positive impact on the economy, it made hackers and scammers take advantage of this situation. Especially
newbies who lack knowledge of Bitcoin, are targeted by hackers and scammers. So in my opinion the biggest threat to Bitcoin is hackers
and scammers. They make Bitcoin look bad, even though if we study Bitcoin well, we can avoid becoming a victim of hackers and scammers.

[ShowOff]

The biggest threat to bitcoin is that governments don't like bitcoin.

Of course the government does not want bitcoin to dominate other currencies as a legal mean of payment because bitcoin is a decentralized currency. So far, however, bitcoin's legal status varies widely across most countries. As a currency, bitcoin has a different legal status and is subject to the jurisdiction of the region, but the majority of countries do not make its use of it an illegal asset. You can find out more information regarding the legality of bitcoin in various countries here.

I assume that the government will become an obstacle for bitcoin, especially regarding its adoption as a mean of payment. So far, the majority of countries do not prohibit the use of bitcoin as a tradable asset, they just try to be aware that bitcoin is not used in criminal cases. I just think that even though the government prohibit bitcoin as a legal payment asset, it is not a threat because bitcoin has a strong foundation that is supported by the user (community) and is still tradable. It's hard to say what the biggest threat to bitcoin is, but I think it should be something like a technical failure or the creation of a new digital asset.

[Kong Hey Pakboy]

There are some treats to BTC. Among them, one can be dangerous for BTC at any time. Permission of government of many countries can be count as a treat, hackers can damage the whole system that is a treat, being strong of others currency can be treated, this is some treats that are visible and there are some other issues to be a treat.

The authorities or the government are the only threats of bitcoin because they can simply say bitcoin is illegal and restrict the used of bitcoin, even it is decentralized. But I think it would be unlikely to happen because the government in other countries have started to recognize bitcoin and other cryptocurrencies as a beneficial and good investment. I also think it would take long for hackers to damage the whole system because they need to hack it's whole large network based on blockchain technology that a single hacker can't hack it alone.

[omone1]

Government will not think of banning bitcoin again, they know its activities will still be going on unnoticed to them and many enterprises trying to leavrage on crypto innovation would  suffer the ban consequences.I think community pancu get to

[francois-cooper]

According to me, biggest threat to bitcoin is without a doubt governments.
If they wanna ban Bitcoin, they just have to shuttered exchanges or forbid them from selling btc.
The day it happens, the game will be over.

[Chris Barth]

Volatility which is considered one of the features of bitcoin can also be seen as a threat. I'm saying this in the sense that if bitcoin price dumps badly, most people will panic. And this panic can result to more dip. With this dip, people may be skeptic about using bitcoin (even as a currency) as they could be afraid that the dip could drop the monetary worth of their coin). All of this can be caused due to the volatile nature of bitcoin so I consider the volatility itself a threat.