Post
Topic
Board Economics
Re: Biggest threats to the price of Bitcoin.
by
teosanru
on 11/11/2020, 05:08:24 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?



Obviously every technological invention has an end when a better technological invention arrives. Same would happen with Bitcoin too. There will be a phase for Bitcoin and Quantum Computing could be real threat to vulnerability of bitcoin as it would make it sort of useless but. I think rest of the points were added just to make article look bigger. Software bug can be in any application doesn't mean end of bitcoin or something. But Quantum computing would make all sorts of passwords useless so there definitely would be some solution to that also. Maybe we could shift to another cryptocurrency which could solve these issues by creating a private key using our finger prints.