worst case scenario for cryptocurrency

[AakZaki]

Bitcoin and blockchain technology will become irreplaceable technologies. Bitcoin will still be bitcoin, blockchain will remain blockchain. if governments develop their own blockchain, it will not be a threat, because bitcoin or any cryptocurrency with blockchain technology is supported by communities around the world. The worst scenario that might happen to the OP is to sell the asset at a low price because of panic.
Rest assured blockchain will be a ledger technology that continues to be developed and bitcoin becomes a very valuable digital currency today and in the future.

[mrongoz_imut]

The worst scenario is if Bitcoin falls to 0 tomorrow. This is the worst-case scenario for all of us.

your answer is very clear short and concise, the worst case scenario for bitcoin is the price of bitcoin falling to zero, if the price falls to zero, maybe most of us will be severely depressed, especially the whales who hoard a lot of bitcoin, they will definitely hang themselves, but in my estimation it is will not happen because considering bitcoin is now very popular, even the government has adopted bitcoin..

[molsewid]

your answer is very clear short and concise, the worst case scenario for bitcoin is the price of bitcoin falling to zero, if the price falls to zero, maybe most of us will be severely depressed, especially the whales who hoard a lot of bitcoin, they will definitely hang themselves, but in my estimation it is will not happen because considering bitcoin is now very popular, even the government has adopted bitcoin..

This is so far the worst case scenario for all of us if cryptocurrency token lost it's value but I bet that this kind of situation is far from reality. I don't think that the country's around the world could come up in building one blockchain but the only possible thing is that they every nation could make their own kind of crypto which will only adds up to the number of altcoins. But over all it will be hard for the government agencies to interrupt with the blockchain of bitcoin and ethereum since it is a decentralized finance.

[peter0425]

This is a simple question but it really bothers me,
the question is, if the world's governments collaborate to create a blockchain network that is the same as Bitcoin and functions like Ethereum, then will cryptocurrency can still survive? because currently I hold 0.5 Bitcoin and 5 Ethereum for the long term, therefore I want to know what will happen if my question comes true, although maybe for the near future it will not happen, but we can take the worst case scenario from now.

Of course cryptocurrency will still function because government cannot create a currency as volatile as bitcoin and maybe not so totally anonymous yet we are having the rights to keeo and hold without government intervention .
so basically people will still use crypto than what the government can provide in which surely will not be our safest virtual money to have.

[Marvell1]

They could make a coin like bitcoin or another eth, that's totally possible. But what they create is centralized and controlled by them, it's no different from current fiat. And it's like bitcoin, not bitcoin. They will not have the power to force us to choose one, with the development of the internet today, the choice belongs to each individual.

[Wong Gendheng]

the worst scenario for bitcoin is, when the price of bitcoin falls to a very low level, maybe that's where we can say the worst scenario for bitcoin, but I think for now, and in the future bitcoin will not go down to the lowest price, because we can see now, bitcoin is very popular, and many have adopted bitcoin..

I think the worst case scenario for bitcoin is not because of the price drop, the price drop is mostly from FUD and can skyrocket again, the worst thing for bitcoin is the firm attitude of various countries that banned bitcoin, this can happen anytime because they feel bitcoin has become a place for various illegal transactions.

[v3liana]

This is a simple question but it really bothers me,
the question is, if the world's governments collaborate to create a blockchain network that is the same as Bitcoin and functions like Ethereum, then will cryptocurrency can still survive? because currently I hold 0.5 Bitcoin and 5 Ethereum for the long term, therefore I want to know what will happen if my question comes true, although maybe for the near future it will not happen, but we can take the worst case scenario from now.

Of course cryptocurrency will still function because government cannot create a currency as volatile as bitcoin and maybe not so totally anonymous yet we are having the rights to keeo and hold without government intervention .
so basically people will still use crypto than what the government can provide in which surely will not be our safest virtual money to have.

In my view Goverments will regulate it so they can collect taxes. And let’s not forget that countries are also competing with each other. Imagine when a country bans crypto they might just loose out on the many advantages crypto has. They did not ban the internet when it was new. The countries that embrace it will be part of the revolution and the ones banning it will be left behind.

[cabron]

Governments creating a cryptocurrency is the worst scenario already.

If the governments are going to be the ones creating a cryptocurrency, they are not going to come up with something like Bitcoin. That's for sure. Because governments want to have something that they have the authority.

Do not worry about your investment. It should have been just Bitcoin only and just forget about the ETH. Or if you want to hold ETH at least have 32ETH otherwise just go for Bitcoin.

[boled]

crypto in my opinion is a financial product, so if every country made the same product as bitcoin, they would have their own market, I wouldn't believe this would destroy Bitcoin or any existing crypto. I see this will be a distinct advantage for us as users who are first into the world of crypto and blockchain, we can enter into their product without us having to leave our current world. while those who are too fanatical about fiat will likely want to enter our crypto world.

[Ausgewielt]

I think they will not do that.  Currency is an important tool that used by governments to control the economy of the country. If they want to do that then they have to have good reason for this. Those countries will consider the benefits that each country may get. In my point of view, every country in this world are competting each other. Each country try to make their national currency and economy better than other countries. If they do, then it will not have the same characteristics with bitcoin. It will backed by gold or superior currency like USD.

[herurist]

when we assume like this, of course, it's okay to see this will happen but let's imagine further, when the government makes altcoins to compete with btc, will they be able to compete strictly? we are talking from the buyer's point of view only, of course we want a profit from every thing we buy or invest.
when the government let's say make an altcoin to be able to be a competitor to btc will there be a guarantee for that? because we know the volatility of btc is unquestionable and will the government be able to make a counter-coin?
when the government makes coins like this, of course, both traders and investors will definitely see what developments and future prospects will look like, they will not buy immediately because here we are required to do research directly so that what we spend does not suffer losses.

[Anonylz]

the worst scenario for bitcoin is, when the price of bitcoin falls to a very low level, maybe that's where we can say the worst scenario for bitcoin, but I think for now, and in the future bitcoin will not go down to the lowest price, because we can see now, bitcoin is very popular, and many have adopted bitcoin..

Yeah that would have been a worse case scenario if btc were to fall to a very low price let's say below 1k usd, there will be confusion and people will immediately lose trust and interest but that is no longer possible, btc has already gone mainstream, many Institutions are involved, more are accepting btc into their business, people's trust on btc is very high hence the possibility of seeing such occur is relatively low.

[glendall]

worst case scenario in crypto in my mind is , if there is a global ban on trading / all transactions of bitcoin itself , and a continuous drop in price to rock bottom. like when bitcoin was launched ,
maybe if there is a price decline there is someone waiting but in this case the bitcoin owners who buy at the high price will be tormented

[swiftbits]

I haven't think of the worst-case scenario before. We all know that blockchain technology develops over time, we are still thriving as we see possible growth of users. The only thing that kind of bothers me is if this technology would last or will be outdated soon? not that I invalidate the potential and the greatness of blockchain, but due to fast innovation, what if we see better options created by new inventors? This might not happen soon, but what if?

[pealr12]

Worst case scenario! I think when for some reason blockchain is able to tempered with, i.e can be ban completely, that will really be a worst case for the crypto community because the belief that even if crypto is ban blockchain will still function gives much confidence in this space but once that's no longer possible the whole scenario has changed completely, and since this is not possible I don't see anything worse than that.

[Dewi Aries]

This is a simple question but it really bothers me,
the question is, if the world's governments collaborate to create a blockchain network that is the same as Bitcoin and functions like Ethereum, then will cryptocurrency can still survive? because currently I hold 0.5 Bitcoin and 5 Ethereum for the long term, therefore I want to know what will happen if my question comes true, although maybe for the near future it will not happen, but we can take the worst case scenario from now.

Survived because backed by government. If they really serious with their coin they can pay exchanges to listed their coins and maybe with much resources they can develop their coin well. But is that will be threat for bitcoin, i don't think so. Although they are success, in crypto market it will listed and still be altcoins.

[Shenzou]

This is a simple question but it really bothers me,
the question is, if the world's governments collaborate to create a blockchain network that is the same as Bitcoin and functions like Ethereum, then will cryptocurrency can still survive? because currently I hold 0.5 Bitcoin and 5 Ethereum for the long term, therefore I want to know what will happen if my question comes true, although maybe for the near future it will not happen, but we can take the worst case scenario from now.

The whole point of cryptocurrency is to eliminate the need for governments and banks and to move away from centralization, and even if as you say all the countries collaborate into creating a universal blockchain there will still be restrictions and limitation and not to mention centralization and it won't get the same attention and popularity as bitcoin and Ethereum, so it is safe to say that both of them are here to stay for a long time. 

[Fortify]

This is a simple question but it really bothers me,
the question is, if the world's governments collaborate to create a blockchain network that is the same as Bitcoin and functions like Ethereum, then will cryptocurrency can still survive? because currently I hold 0.5 Bitcoin and 5 Ethereum for the long term, therefore I want to know what will happen if my question comes true, although maybe for the near future it will not happen, but we can take the worst case scenario from now.

You need to make your own plan and decision on what the cryptocurrency you hold is worth, nobody else can really make that decision for you - there are simply too many variables to guess where the price will be tomorrow, let alone in 5 years. From the sounds of it you don't need the money, but if I bought in the amount you hold many years ago at dirt cheap prices and they were my main assets in the world, I'd definitely sell a portion and try to diversify a bit. You will not gain all of the upside in future, but if you sold half and those cryptocurrencies lost a lot of value - then you could sleep more easily with your decision. If it were possible to crack into wallets in future (somehow?) then they might become worthless, but your banks security might also be compromised at that level of computing sophistication too.

[Ekeleboy]

Firstly, I really don't think governments can come together to agree on one currency. And technology is fast evolving we almost cannot determine how it'll go or what it's future is like.
But I think we can be prepared for whatever is to come.

[verita1]

I also think about my investment in bitcoin and crypto in the long term. Why worry about what governments will do to compete with bitcoin?

First of all, I don't think any government develops a better network than bitcoin and all networks combined. Because we have taken the lead it is better for them to join us.
If a collapse were to occur in our crypto space due to the arrival of some network created by governments, I think it will not happen, the idea is not to destroy what we have, it is better to adapt globally.
If it were the case, there would always be a way to recover any investment.