Post
Topic
Board Economics
Re: Biggest threats to the price of Bitcoin.
by
davinchi
on 09/11/2020, 20:44:40 UTC
Hi,

As everybody keeps pointing out that Bitcoin is a risky investment, I'm trying to get a better understanding of the greatest risks to my coin.

I must admit that sun flares and quantum computers were not what I was expecting to find when I googled this but alas...

https://medium.com/coinmonks/the-5-biggest-threats-for-bitcoin-that-have-the-potential-to-destroy-it-9b3845ebcd1d

https://decrypt.co/29625/the-biggest-threats-to-bitcoin-in-2020

To be fair, I think these sources are talking about things that would all but wipe out Bitcoin rather than just reducing the price.

I was wondering what you guys think is the most likely instances that would cause the price of bitcoin would sink back below say the $5,000 or the $10,000 mark?
The author of that article made a really good point, his last point is something that I usually talk about with my friends or other people, especially when things like ‘bitcoin should be world currency pops up and things like that.

His last point he talked about ignorance and disinterest, and he said something that bitcoin shouldn’t be the main currency that will replace the fiat we are using like some people would argue, it is good that Bitcoin stays an independent currency that offers everyone the same benefit, and then he said another thing about the bad effect that HODL will have on Bitcoin and I support that, he made a good point and pointed a big threat for Bitcoin there. But sadly, whales and big institutions wouldn’t care, they only care about their pockets.