Have you ever been concerned about Bitcoin's longevity in the mainstream world as a decentralized cryptocurrency? While BTC has been going strong since 2009, there exist the possibility that it could vanish from existence sometime in the future. After all, we know that nothing lasts forever.
My guess is that once governments start circulating their own digital currencies, they will try to crackdown on Bitcoin and other cryptocurrencies as we know them. It's no secret that the entire crypto space is largely dependent on centralized infrastructure (centralized exchanges, centralized wallet services, etc). People will not want to use something that's considered "illegal" by worldwide governments. While it'll still be possible to continue using Bitcoin regardless of government bans, regulations, etc, not many people will support it (only libertarians, geeks, anarchists, etc.). By that time, it'll be nearly impossible to get access to Bitcoin with Fiat currency or even exchange Bitcoin to Fiat (as the government crackdown will make all centralized exchanges to cease their operations).
Considering that governments want to stay in power, they'll do anything to force people to use their Central Bank Digital Currencies (CBDCs) instead of any other alternative payment system. If that happens, Bitcoin will be doomed.
Do you think that we're close for Bitcoin's End Game to happen? Will it ever happen? What are your thoughts?
I am also concerned that this time will come in the future, knowing that most of the governments wants to have a control over the digital assets that will be use in their respected country. Once the digital payment will fully replace fiat someday, there is a big chance that what you have said will turn into reality. My guess is that once governments start circulating their own digital currencies, they will try to crackdown on Bitcoin and other cryptocurrencies as we know them. It's no secret that the entire crypto space is largely dependent on centralized infrastructure (centralized exchanges, centralized wallet services, etc). People will not want to use something that's considered "illegal" by worldwide governments. While it'll still be possible to continue using Bitcoin regardless of government bans, regulations, etc, not many people will support it (only libertarians, geeks, anarchists, etc.). By that time, it'll be nearly impossible to get access to Bitcoin with Fiat currency or even exchange Bitcoin to Fiat (as the government crackdown will make all centralized exchanges to cease their operations).
Considering that governments want to stay in power, they'll do anything to force people to use their Central Bank Digital Currencies (CBDCs) instead of any other alternative payment system. If that happens, Bitcoin will be doomed.
Do you think that we're close for Bitcoin's End Game to happen? Will it ever happen? What are your thoughts?
Once almost all the governments will unite in banning or exchange crypto currencies into their local digital currency, the crypto users will surely face difficulty in cashing out their money from crypto currencies. Once it will happen, the era of crypto currencies will likely to fade slowly but if all the governments will not prohibit the usage of crypto currencies then crypto will be part in the future modernization.
Many people right now are using the cryptocurrency for their transactions because we all know that the crypto is one of the fastest and trusted transaction that's why many people today now are using this to transfer their funds to make more earning and today there are some countries accepting the use of it and that was a great news to all of us because the market price of the bitcoin will go up rapidly again because they are now allowing to use of it, still there are some countries does not want to accept the use of bitcoin because they are afraid all the things may happen with the use of it because they think it is not secured. But to the other country allowed it there are some instance because they need to limit all of the transactions to avoid having a large amount of data and funds transfer to an unknown device or user, still, it was huge if the bitcoin will end soon, many people will affect on that and their earnings. We are looking forward to making more profit with the use of bitcoin and I think it is not the end we are just heading to the future.