What is the biggest threat to Bitcoin?

[verita1]

Some think that the biggest threat to Bitcoin is governments because of their power to ban it in their nations. Another reason that I think is the ignorance that some have and the fear of investing in Bitcoin.
As we know, Bitcoin lacked development. I am concerned that every day solutions are created where Bitcoin is not looking for a solution to the problems of transaction time, fees and the few incentives for its holders.

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[CarnagexD]

What I would say is the biggest threat to bitcoin would be it's own price right now. As we reach far greater heights with bitcoin approaching a new All Time High, we will have more people coming in to join the party, and when the party is over, we know what comes next. The dump that would ensue after this might be bigger than the previous ATH we had reached, not to mention the whales that might also drop their coins out for the huge profit coming in.

[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.

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.

I was addressing people who are involved on Bitcoin in general, not specifically no this forum.
Almost all of the people on this forum is already bitcoin user. They surely know what is bitcoin. But for people outside, they dont have any reference rather than people who they trust the most. They can easily trust people who they believe has more education in financial sector. On the case above, bankers.

[error08]

Basically any threats that have occurred so far will eventually be overcome and the price will recover over time, so I don't think there's a threat that will make Bitcoin die. In fact, the threat of a crisis occurred which caused many asset values to fall but in the end it all recovered and was even accompanied by a strong increase at the end of this year for bitcoin itself and of course cryptocurrency. Indeed, Bitcoin will not be able to maintain its high value for long, but over time at least the bottom value of bitcoin continues to increase and thus, any threats that exist will not be able to make Bitcoin die for now.

Yeah, bitcoin always find the way to recover, even if a country ban cryptocurrency and exchanges, they simply move the headquarter to another bitcoin-friendly country.
Although there are hacked exchanges, it will recover eventually as we've seen it happen all the time after exchanges got hacked.
Furthermore, the biggest player and exchanges located in the US, yet the authorities have issued regulations regarding the crypto-world, nothing to worry about so far.

[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.

I was addressing people who are involved on Bitcoin in general, not specifically no this forum.
Almost all of the people on this forum is already bitcoin user. They surely know what is bitcoin. But for people outside, they dont have any reference rather than people who they trust the most. They can easily trust people who they believe has more education in financial sector. On the case above, bankers.

But they would be harmless if that is the case.

We've been here for a very long time and the fact that we're just making jokes about those people saying Bitcoin and cryptocurrencies are scam. These people won't do anything to harm bitcoin, the fact that the price is still increasing while they continue their Ponzi ideas about Bitcoin. If it is a body of a government, that could affect but not a threat.

[Walterhank]

I think banks, large institutions, and governments are some of the biggest threats to bitcoin

[Genemind]

The government, in some countries where crypto is banned there are a lot of crypto enthusiasts who are finding ways to get involved in crypto even if it is illegal. If Bitcoin will not be accepted by the government world wide, Bitcoin circulation will stop and it will become worthless. Even though this is less likely to happen, it is still possible.

[witcher_sense]

The government, in some countries where crypto is banned there are a lot of crypto enthusiasts who are finding ways to get involved in crypto even if it is illegal. If Bitcoin will not be accepted by the government world wide, Bitcoin circulation will stop and it will become worthless. Even though this is less likely to happen, it is still possible.

On the contrary, the fact that bitcoin continues to circulate despite bans and lack of acceptance among governments is exactly what makes it not worthless. If they really could "ban" bitcoin, it would have been banned already. Now they have no choice but to accept and adapt to it.

[shane_gr]

In my opinion, governments are the most dangerous thing for Bitcoin.
We can see that many countries do not recognize bitcoin
and even buying and selling bitcoins in them is illegal.

[Question123]

Bitcoin is threat is the panic selling who are selling bitcoin when price dumps and that is the number 1 threat now that we need to avoid losing money too.

I hope people will remain calm and did not panic because we know that we will not see a good result to the bitcoin and of course to us who are affected by this so be careful of selling bitcoin don't sell it all.

[Astvile]

Bitcoin is threat is the panic selling who are selling bitcoin when price dumps and that is the number 1 threat now that we need to avoid losing money too.

I hope people will remain calm and did not panic because we know that we will not see a good result to the bitcoin and of course to us who are affected by this so be careful of selling bitcoin don't sell it all.

For the whales I don't think they find this as a threat they find this as a clearance sale, panic selling have been happening since 2013 and bitcoin is still alive and kicking now pushing to write a new ATH. How many times have bitcoins price been dumped and come back even bigger when it goes onto the bullish trend? everytime so I think panic selling is a factor that we need to worry about bitcoin.

[barto123]

I would say Bitcoin has overcome most of it's largest threats, everyday it survives from here on in will only get stronger. Put it this way: betting against Bitcoin would not be wise.

Short-term:

-Governments trying to over regulate it in order to force maximum taxation such as - over bearing transaction surveillance (KYC, tell us all your addresses) & attempting to restrict custody on exchanges unless you provide them a signed transaction of your wallet. These regulations are dangerous & counter-intuitive to citizens, they don't prevent actual crimes. All these laws are merely hindering adoption in the short-term. The people and countries who embrace it & allow it to thrive first will be handsomely rewarded. The citizens in the countries with the overbearing laws will probably just rebel against their government when they see it's success elsewhere.

Long-term:

Unstoppable. Bitcoin will definitely shrink government revenue, many smaller jurisdictions will likely emerge. It's the nation states doing the most damage in the world. Bitcoin spells the end of central banking - basically the reason we have wealth inequality in the world, which leads to fixing most of the issues we have in the world.

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[leea-1334]

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.

Iran has countless times said Bitcoin is illegal and so have other countries but did that stop their citizens from using BTC? I see that not a threat but a proof of use case for people who want to be free to use money as they wish. See it as negative but this is what makes BTC stronger!

[Josefjix]

Most of the major threats that have disrupted Bitcoin have been overcome, so whatever comes now is just mere challenge. Like when some governments banned it, their citizens were still using Bitcoin. Now it has gone mainstream the only challenge we can talk about is volatility and inability to get to everyone's hand due to one circumstances or the other.

[XZERO1]

What do you think can be the biggest threat for Bitcoin in current situation?

Governments and their banks.

If Bitcoin or crypto over all gets the expected popularity among people, the income that governments are earning from their banks are going to decrease significantly and the more crypto payment methods people use it's a money out of their(governments and banks) pocket.

You pay a lot of fees in the long run for services that you get from banks all the while they are lending your money to bigger corporations, while in the crypto what you spend is only in the form of transaction fees which will be paid to miners which using their hardware capacity and use their electricity to mine that coin.

If a day comes that most people around the word are using decentralized coin/s for any kind of payment then governments and their banks will be losing out on a good portion of their income which will eventually lead to removal of traditional banks and replacing them with crypto, but I'm guessing before that happens governments will be trying really hard to push their own created coin so they have some control over it.

[fileo]

I agree to my fellows responses that it is government.
Government is the only threat to stop or regulate Bitcoin.
For a long life government always trying to stop Bitcoin and yet they cannot.
Every year the community of Bitcoin is becoming bigger because the people are looking for alternative investment apart from real state and gold. In my opinion, government  cannot stop Bitcoin now and tomorrows.

[TedMosby]

But they would be harmless if that is the case.

We've been here for a very long time and the fact that we're just making jokes about those people saying Bitcoin and cryptocurrencies are scam. These people won't do anything to harm bitcoin, the fact that the price is still increasing while they continue their Ponzi ideas about Bitcoin. If it is a body of a government, that could affect but not a threat.

yeah, we made jokes about them every time.
however, this community is too small compared to the number of those people, who are misleading about bitcoin.

George Carlina said,
Never underestimate the power of stupid people in large groups.
not saying that they are stupid, but they have their own point of view about bitcoin.
What if the government comes from this kind of people? or let say their advisor?
it could be a threat, right?

[angrynerd88]

For me programmers are a risk as it were for the centralized cryptocurrency trade stages and a few online cryptocurrency wallets.Another side financial institutions and government also risk for end of the of the cryptocurrencies,It will be great  if governments to keep crypto exchanging legitimate and accumulate charges from the crypto traders,rather than attempting to crush the crypto opportunity.

[ropyu1978]

The biggest threat to bitcoin today is the US, and the threat of bitcoin is also because with theft causing the economy to crash and currency to crash, more people are likely to be involved in cybercrime, and about people receiving misinformation about bitcoin ... My bitcoin will not back down because I will continue to buy bitcoin and invest in bitcoin. Whatever the risks and threats, I will still face it ..

[worldofcoins]

Various individuals quit using bitcoin because they got misled in past.
One of my companions did profoundly contribute with bitcoin when he attempted to sell them he got scammed by an unknown person, which lift their heart from the bitcoin innovation and he never returned.

People who spread malware to other's computers to mine or steal their bitcoins are one of the greatest dangers to bitcoin as a whole. Mostly new comers don't know much about bitcoins and install some random software that contain virus and will blame bitcoin because they disappeared form the wallet.