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Author Topic: What are the biggestest threats to Bitcoin?  (Read 6659 times)
Nathan101
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July 13, 2014, 05:29:24 PM
 #161

I think lot of altcoin are the biggest threat to Bitcoin.

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ShakyhandsBTCer
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July 13, 2014, 05:30:07 PM
 #162

It's people's ambitions. This is very true. Sometimes people get blind with ambition and it's never a bad idea to have different views collaborating

Right, those who have ambition to get all the BTC they could get no matter what is a threat.

Well, now I don't know about that.

Could you elaborate a bit?

I mean those who will scam/steal or willing to do anything just to get BTC.
This is a big threat to the bitcoin economy as people will be afraid to deal in bitcoin with others as they are afraid they are going to be scammed.
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July 13, 2014, 06:10:46 PM
 #163

This is a big threat to the bitcoin economy as people will be afraid to deal in bitcoin with others as they are afraid they are going to be scammed.

I'll sell you insurance against getting scammed.
I just need to see your private keys so that I can inspect how much entropy was used in their generation.... Wink Tongue

(for those who can't figure it out, this is not serious)

QuarkCoin - what I believe bitcoin was intended to be. On reddit: http://www.reddit.com/r/QuarkCoin/
InwardContour
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July 13, 2014, 09:23:01 PM
 #164

This is a big threat to the bitcoin economy as people will be afraid to deal in bitcoin with others as they are afraid they are going to be scammed.

I'll sell you insurance against getting scammed.
I just need to see your private keys so that I can inspect how much entropy was used in their generation.... Wink Tongue

(for those who can't figure it out, this is not serious)
I think this is a problem. Although you were not serious, many people could very well think that this would be a legit request of selling insurance. As a result they would likely get scammed.

There are two risks here; 1 - people who will attempt to scam newer users out of their coins and 2 - the advanced nature of bitcoin and the lack of education available to new users to help then secure their coins.

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July 14, 2014, 03:22:54 AM
 #165

The biggest threat is surely running out of Bitcoin addresses. Tongue
This, for all intensive purposes is not going to happen.
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July 14, 2014, 03:49:22 AM
 #166

Quantum computers? Bugs in the code? Centralized mining?

Is there anything that can't potentially be overcome that is a threat to Bitcoin? Anything I didn't mention?

Thanks in advanced.

centralized mining and loss of the open source development community
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July 14, 2014, 08:39:16 AM
 #167

I think lot of altcoin are the biggest threat to Bitcoin.

Na altcoins are there to develop Bitcoin as separate experiments
Sidechains will probably start to replace those though, or work alongside it as it takes one big cryto to succeed for others to follow in its footsteps.

The biggest threat is ignorance on the behalf of lawmakers and central bankers, and privacy concerns although mining centralization and lack of nodes are also big factors in addition to the above.
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