A flippening?
Outlawing?
Major hack?
Plateau followed by major selloff?
I don't see any of these happening any time soon. Despite my repeated skepticism, it just keeps going up and has doubled almost every month the last few months. The end is nowhere in sight. Of course it can't go on forever, but Bitcoin is not going away tomorrow. It could very well hit 50,000 in 2018.
What could cause the end of Bitcoin?
Non-Running
Finance/Jobs
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It will end in a similar way as all bubbles end such as the Tulip bubble of 1637. Bitcoin will probably be worthless within 10 years.
Perhaps a better type of digital "coin" will take it's place but it won't have the mania that's going on right now. -
Major hack already happened in 2014, look up Mt. Gox. ~500 Million lost, yet btc climbs to 14k over the past few months. China outlawing ICO's caused a temporary dip, but it rebounded. Because bitcoin is artificially scarce (21 million coins ever allowed), it will always increase in price as interest rises. Unless the fed can find some sort of way to outright ban it, BTC will continue to rise. Even if the US bans it, China/Japan/Korea, all major users, will continue to use.
If you want a coin to make serious profit, buy Einsteinium. MOON MISSION -
Alternative cryptocurrencies with enough tech advantages to outweigh the "first man in" of BTC.
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What could cause the end? Rationality, legislation.
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Bitcoin will go to 25000 with in 4 months.
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The next bubble. Don't know what it will be, else I'd be investing in it now.
Bitcoin is too volatile, transaction fees are too high, and transactions take too long for it to be a practical medium of exchange. Thus, its value is sustained only by speculation. When speculators find a better alternative, its value will come crashing down. -
It will collapse for no reason (it's already in its nature... it's a speculative mania)...
but people will point to a reason post hoc (hack, laws, anything...)... that always happens.
It won't plateau first, bubbles never do.
It could go to any number before it collapses.
50,000? , 100,000? ... sure.
Look for a spike, a drop, and then a spike that fails to take out the previous high..
then a collapse.
Bit coin will go to zero.
When is anyone's guess.
BTW, I love how any article on bitcoin on the web always shows an image of some kind of coppery-gold coin...
humans have trouble with something that is supposed to be worth something but has absolutely no physical manifestation. -
The end of bitcoin will be a better bitcoin. Bitcoin relies on a massive amount of energy to power the servers that handle bitcoin transactions. Bitcoin also has big security issues. If someone can come along with a competing crypto currency that is more secure and has lower transaction costs, bitcoin will crash.
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If banks adopt and are able to successfully implement the block chain technology bitcoin will suffer and probably end up being more like gold. Something someone who does not trust the government invests a lot of money into.
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When their server is close to destroying the world
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Current blockchain size in ~1.5Gb. Futures open soon, trade accordingly.
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The underlying technology of Bitcoin has some major flaws (google "proof of stake" and "smart contracts). There are coins in development that are aiming to solve the big issues with Bitcoin and Ethereum, most notably Tezos, which raised over $1 billion in its ICO. Insane.
So, the most likely thing to kill Bitcoin is a better version of Bitcoin. -
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Precious Roy wrote:
The end of bitcoin will be a better bitcoin. Bitcoin relies on a massive amount of energy to power the servers that handle bitcoin transactions. Bitcoin also has big security issues. If someone can come along with a competing crypto currency that is more secure and has lower transaction costs, bitcoin will crash.
All indications are that Tezos will solve these problems. -
The same thing that is inflating it. An artificial cap on Bitcoins in existence makes it unwieldy as a currency (fractions of fractions of Bitcoins being used for purchases and transactions isn't user friendly, inconsistent values mean pricing product to Bitcoins is difficult). Having low functionality means the only thing propping it up is popularity. Currency isn't useful when it is also an investment product.
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Woke wrote:
The same thing that is inflating it. An artificial cap on Bitcoins in existence makes it unwieldy as a currency (fractions of fractions of Bitcoins being used for purchases and transactions isn't user friendly, inconsistent values mean pricing product to Bitcoins is difficult). Having low functionality means the only thing propping it up is popularity. Currency isn't useful when it is also an investment product.
This is it, right here. It can either be a method of exchange (money) or a vehicle for investment/speculation. It can't be both. That tension will ultimately doom it. -
Anyone responding to this post should clarify whether or not they own BTC so that readers can properly assess these opinions.
In my experience, BTC naysayers are either (1) bankers, (2) people who don't own BTC (and are therefore pissed that they missed out), or (3) over age 50.
I own BTC. -
Do you own BTC? wrote:
Anyone responding to this post should clarify whether or not they own BTC so that readers can properly assess these opinions.
In my experience, BTC naysayers are either (1) bankers, (2) people who don't own BTC (and are therefore pissed that they missed out), or (3) over age 50.
I own BTC.
I owned a few BTC when it was around $7,000, liquidated it when I saw Tezos was basically a solution to all the problems with BTC. Invested in Tezos ICO in June and will be excited to cash out $250,000 next summer. -
VRPORN → VRPORN
