Assume Bitcoin is Removed from the Market: What Happens Next?

[tbct_mt2]

Well, just so you hear what you seem to want to hear, Bitcoin might not stay relevant for an infinite period of time. Today, it may be futuristic. A couple of centuries from now, it may grow obsolete.

Bitcoin is not a first cryptocurrency but it is a first decentralized and successful cryptocurrency which laid solid foundation for one of biggest innovation in human civilization history. Since 2009, Bitcoin is the King in cryptocurrency industry and with what has shown so far, Bitcoin will maintain this leading role for many years ahead.

Will Bitcoin be replaced by something better?
Who knows?
But I believe it won't happen soon, as it is super hard to have another decentralized project and blockchain like Bitcoin with an anonymous founder like Satoshi Nakamoto.

Rather than looking at Bitcoin's limitations that may seem to make them better alternatives, you might want to look at their limitations that challenge their very own survival.

Bitcoin is not perfect but it has its strength and advantages which can not be found in thousands of altcoins so far.

[Taskford]

Well, just so you hear what you seem to want to hear, Bitcoin might not stay relevant for an infinite period of time. Today, it may be futuristic. A couple of centuries from now, it may grow obsolete.

Bitcoin is not a first cryptocurrency but it is a first decentralized and successful cryptocurrency which laid solid foundation for one of biggest innovation in human civilization history. Since 2009, Bitcoin is the King in cryptocurrency industry and with what has shown so far, Bitcoin will maintain this leading role for many years ahead.

Will Bitcoin be replaced by something better?
Who knows?
But I believe it won't happen soon, as it is super hard to have another decentralized project and blockchain like Bitcoin with an anonymous founder like Satoshi Nakamoto.

Even if Bitcoin is not the first digital currency still it manage to became  most successful decentralized coin. Then it became the foundation of the whole crypto industry due to its huge success gotten for many years.

Its endurance and success gotten since 2009 and combination of absence of Satoshi Nakamoto make people think that this coin is not been controlled by anyone, This give a exceptional position which is hard to copy by other cryptocurrency in the market. Lots of project offer new innovation but they didn't match the decentralization, demand and cultural impact that's why most of new coins died then Bitcoin remains. I believe that Bitcoin will stay for many more decades and those attempt to replace it on top position will just remain dreaming that they can achieve that goal.

[Antona]

Well, just so you hear what you seem to want to hear, Bitcoin might not stay relevant for an infinite period of time. Today, it may be futuristic. A couple of centuries from now, it may grow obsolete.

Bitcoin is not a first cryptocurrency but it is a first decentralized and successful cryptocurrency which laid solid foundation for one of biggest innovation in human civilization history. Since 2009, Bitcoin is the King in cryptocurrency industry and with what has shown so far, Bitcoin will maintain this leading role for many years ahead.

Will Bitcoin be replaced by something better?
Who knows?
But I believe it won't happen soon, as it is super hard to have another decentralized project and blockchain like Bitcoin with an anonymous founder like Satoshi Nakamoto.

Even if Bitcoin is not the first digital currency still it manage to became  most successful decentralized coin. Then it became the foundation of the whole crypto industry due to its huge success gotten for many years.

Its endurance and success gotten since 2009 and combination of absence of Satoshi Nakamoto make people think that this coin is not been controlled by anyone, This give a exceptional position which is hard to copy by other cryptocurrency in the market. Lots of project offer new innovation but they didn't match the decentralization, demand and cultural impact that's why most of new coins died then Bitcoin remains. I believe that Bitcoin will stay for many more decades and those attempt to replace it on top position will just remain dreaming that they can achieve that goal.

Exactly the endurance through multiple "Bitcoin killer" cycles proves the point, its the base layer everything else feels like an experiment or an app built on top of its ideas replacing the foundation is a fantasy when the foundation works this well.

[OcTradism]

Exactly the endurance through multiple "Bitcoin killer" cycles proves the point, its the base layer everything else feels like an experiment or an app built on top of its ideas replacing the foundation is a fantasy when the foundation works this well.

The most noisy "Bitcoin killers" are Bitcoin forks but they mostly failed with this mission even they still exist or they died or disappeared from the industry.
How Many Bitcoin Forks Are There? You will be surprised!!!

Other altcoins want to convince us that they are Bitcoin killers all have failed with this mission too. If you expand it to Ethereum killers, these "Ethereum killer" altcoins failed with their mission to replace Ethereum and take over a second position of Ethereum in cryptocurrency industry too.

Bitcoin is Bitcoin, Ethereum is Ethereum, other altcoins are themselves and if they are quality, they can just be themselves and make their own names and adoption in this industry.

Before Bitcoin, there are some other cryptocurrencies but when Satoshi launched Bitcoin, the founder did not say Bitcoin is a killer of any previous cryptocurrencies like Digicash, Cybercash, E-Gold, Hashcash, BitGold, B-money, BitTorrent.

Bitcoin prehistory.

[Sticky Bomb]

2. Changes in Regulations or Complete Bitcoin Bans:

Another risk that could wipe out Bitcoin is the imposition of strict regulations or an outright ban in major countries. While Bitcoin is legal in most places today, a country like the U.S., China, or a large international body like the UN could make Bitcoin illegal, severely affecting its value and use. This could create huge problems for the global Bitcoin ecosystem.

Complete bitcoin ban is only an illusion, it is too late for that to happen. China, US or even EU banning bitcoin would affect the markets actually, but it would not be the end of bitcoin, other countries are continually adopting it and it would bounce back like it always does. Even if they ban it, this does not stop holders from these countries to continue holding their bitcoin, nor would it stop them from travelling to countries where it is legal to cash in when they want.

If Bitcoin gets banned, could we expect another cryptocurrency to take its place? Could a government-controlled digital currency replace Bitcoin?

Some shitcoins forked from bitcoin like BCH has failed to meet up to bitcoin and such would happen to any new coin that is forked from the bitcoin source code to replace it, it would be very hard to get any coin as near-perfect as bitcoin if ever bitcoin goes down(which I'm not seeing its possibility).

4. The Emergence of a New, Superior Cryptocurrency:

This would be hard to achieve, although I'm not negating innovation, but it would really be very hard to create something superior to bitcoin which would gain global attention and trust like bitcoin has achieved.

[tbct_mt2]

Complete bitcoin ban is only an illusion, it is too late for that to happen. China, US or even EU banning bitcoin would affect the markets actually, but it would not be the end of bitcoin, other countries are continually adopting it and it would bounce back like it always does. Even if they ban it, this does not stop holders from these countries to continue holding their bitcoin, nor would it stop them from travelling to countries where it is legal to cash in when they want.

Banning Bitcoin globally is impossible and luckily for Bitcoin community, Bitcoin network is decentralized from hashrate distribution to the blockchain decentralization with Bitcoin full nodes around the world. With time, many years since 2009, Bitcoin has become bigger in hashrate, more decentralized and it becomes harder for any single government to ban and kill Bitcoin network.

China is a biggest nation ever wants to ban Bitcoin, not only one time but many times, and you witnessed how they failed so far. Other nations don't want to ban Bitcoin and the USA with Trump adminstration opens more friendly policies on Bitcoin industry from mining to the market.

The Bitcoin global map shows opposite trend, Bitcoin is more accepted in many nations.
https://newhedge.io/terminal/bitcoin/legality-map