Quote from: Iranus on July 20, 2022, 12:48:27 AM

Quote from: pawanjain on July 16, 2022, 08:03:05 AM

In the given list the most important factors that I consider as a threat to bitcoin are the cost of production and regulation.
I wouldn't say media coverage because in this world of internet almost everyone is socially connected and the news are spread instantly across the globe.
Whether it be a positive or negative news the coverage is across the globe.
On the other hand the cost of production and regulation are real threats to bitcoin which causes a correction every time it impacts bitcoin.
All the other factors drives the price of bitcoin upwards.

In my opinion, the government is the biggest threat to bitcoin's growth, if all governments regulate or ban it, then bitcoin's growth and popularity will be hampered. The government is a significant influence on many people's thoughts, if they declare bitcoin as a valuable asset, people will definitely rush to buy bitcoin but if it is declared illegal, people will surely take precautions and don't use bitcoin even just to try.

Don't you think that's an irony. Bitcoin was created just so that people can own their money and become aware of the fact that how centralized the traditional fiat system is.
Governments are controlling it and bitcoin was created so that the government doesn't control it.
So in a way, bitcoin was to be adopted by the people without the approval of government at first place.
So even if the government declare bitcoin as a valuable asset or not, it's value will and should be derived by the people demand.