Post
Topic
Board Bitcoin Discussion
Topic OP
What spells the end
by
dnydublin12
on 07/09/2014, 16:12:49 UTC
Hi,

I want bitcoin to succeed and very much hope it does, so please don't read this message as bitcoin bashing post, not intended that way. The fact that we're all reading and posting on this forum probably indicates our positive interest in Bitcoin specifically. But just thinking negatively with our black hats on, what could spell the end for bitcoin

1. 50.1% attack - where someone gets enough computing power to out pace a little over half the current hashing capability and invalidates the chain. Probably only feasible for large companies/banks/governments whose interests might be threatened by bitcoin.

2. Government regulation - if the US & EU legislated against holding or dealing with bitcoin, or started seizing wallets. Bitcoin could flee to other jurisdictions, but it certainly could significantly affect its adoption if none of the large multinational companies would accept payment in bitcoin.

3. Unknown bugs - Some flaw in the algorithm that we don't yet know about

4. Better competitor crypto currency with some technical advantage, like speed - Could ethereum replace bitcoin?

Any others that people can think of? and which do you think most likely if any?

Again, not meaning to be negative so please don't be offended,

Thanks