Quote from: DrYe5 on October 03, 2017, 06:08:31 PM

Quote from: staff_1307 on October 03, 2017, 05:47:33 PM

If Bitcoin someone and can destroy Bitcoin, then this is China. Although honestly, depending on how fast it grows, and the fact that China is not the only superpower in the world, I can say that Bitcoin's collapse will not happen.

It seems to me that bitcoins have become so widespread that nothing can completely destroy them. Of course, they can be undermined by a weak market situation, but they will not destroy it completely. The situation of bitcoins is constantly stabilizing, so I do not think it is possible.

I think Bitcoin will survive and last for a long time but there are a few scenarios by which Bitcoin could fail:

1) Major countries could over-regulate Bitcoin to the point that it is just an underground currency. That could make it weaker and it may not survive.

2) A group of wealthy investors could gain 51% of Bitcoin and could take it over. At this point I think this is unlikely.

3) Over time, the fees could get too high and people stop using Bitcoin.

4) An altcoin or several altcoins could eventually become more popular and phase Bitcoin out.

Like I said, I don't think Bitcoin will fail, but these are a few ways that it could happen.