I am about to buy my first Bitcoins by dollar cost average method of $200K USD over a 20-40 week period this year in 2020. I own property that I am about to sell. I am good with spreadsheets and planning to an extent ..... however, I feel I'm in over my head trying to construct my 10 year to 30 year plan with Bitcoin and property and possibly gold in the mix. Can someone please refer me to a trusted, competent financial planner / tax advisor near my neck of the woods San Carlos, CA zip code 94070. I want the advisor to be competent in the new cryptocurrency, specifically Bitcoin, environment with considerations to income and property tax implications and short/medium/long term personal financial planning. Thank you

#Yang2020 #YangGang or #Bernie2020 #Feelthebern who ever of these two are on the ballot in that order of preference. But I digress.

What set of conditions (technical or socio-economic) can crash blockchain or bitcoin to zero USD? Is this notion of bitcoin crashing inconceivable at this point 10 years into its existence (so long as there is electricity and the internet)? My corollary question is: Can bitcoin be obsoleted by another cryptocurrency? What would that path of obsoletion look like for bitcoin? For example, I hear about other crypto currencies like Etherium or Lightcoin or Bitcash or Altcoin or Bitgold. What would be signs to look for that would make it prudent to cash out of Bitcoin to buy Etherium, for example.

I just found this online article describing how the US Government at one point in 2012 had looked into "Shutting Down" bitcoin .... and concluded that it simply could not! Here is the link to the article.
https://www.forbes.com/sites/billybambrough/2019/10/08/the-us-government-tried-to-shut-down-bitcoin/#4db451741966

I'm going to finish reading the rest of that article now, but just wanted to quickly post the link to it, bc of this excerpt that is in the very beginning of it, which should be very comforting and encouraging to us Bitcoin adopters / enthusiasts.

Here is the excerpt:

Any serious attempt made by the U.S. Department of Justice to shut down bitcoin inevitably came to naught, with Haun saying, "it would have been akin to saying ‘let’s go prosecute cash.'"

What is stopping the US Government from outright BANNING Bitcoin?  For argument's sake lets say today (23JAN2020) 3% of the US population is using Bitcoin for 3% of their purchases or financial transfers/transactions. And, let's say 5 years from now around 2025, 30% of the US population is using Bitcoin for 30% of their purchases and financial transfers/transactions.  Consequently, the US Government monitoring this situation sees the trend that 30% fewer transactions are being done with the all mighty US Dollar. Well, it would seem that the US Gov would hold the view that the popularity or use of their US currency is being threatened by Bitcoin. And so, what is stopping or what would stop the US Gov to outright make it ILLEGAL to use Bitcoin at some such time?

In my humble estimation (based on my own scientific, engineering, economics education) as I am learning more about it, Bitcoin will reach valuation around $10,000 within 0-2 years (at the time of this writing it is already back up to around $8,000 rounding to the nearest thousand) and then will reach valuation $100,000 within 20-40 years and then $1,000,000 (each single Bitcoin) within 40-120 years of this year 2020. Today there are 17,000,000 Bitcoins in existence for around $170B (billion) market capitalization. In 2140 there will be 21,000,000 Bitcoins in existence. I am conservatively guessing the market cap will be around $2T-$20T (trillion). This is my own projection. Do others in the Bitcoin community (this forum) agree that my estimation or forecast is reasonable to expect? Clearly there will be huge or not so huge price/valuation changes or swings over time. There is no arguing that, however, over long term the starting data point of $10,000 around 2020 and $100,000 at around 2040-2060 I think are two reasonably expected data points. I will be 75 years old in 2040, so that will make my retirement years very happy (should I not get hit by a bus before then).

What happens to my two Bitcoins (just for example) if I lose my security key? I do not have any Bitcoin at the moment. But, I am quickly learning about Bitcoin as I want to very soon make my very first purchase of some amount of it. My question has to do with there being a finite amount of Bitcoin in circulation. Today about 17,000,000 (17 million) Bitcoins are in existence. By year 2140 as I understand it there will be no more than 21,000,000 (21 million) Bitcoins in existence. Furthermore, my understanding is that I am the only person with access to my Bitcoin through my private security key. Now, my question is. If I lose my security key to, let's say, one of my Bitcoin wallets that has maybe 2 Bitcoin in it. Then, what happens to that 2 Bitcoin in the context of the 17 million Bitcoin currently in existence. Who can find and use those 2 Bitcoin that I "lost". Or, do those 2 Bitcoin get lost forever, because I'm presuming no one ever will find/guess my lost security key? An analogy is, if I lose a hundred dollar bill, someone will likely find it and be able to use it to put it back into market circulation. However, if the hundred dollar bill gets flushed down a sewer drain, then it gets permanently removed from market circulation. So, I'm wondering, do the 2 Bitcoins in my example that I "lost", do they permanently get removed from market circulation. And, if so, then does that mean that in 2140 there will be 2 Bitcoins fewer in the total market circulating, for example, 21,000,000-2 would make it 20,999,998 Bitcoins in circulation. Or, can those 2 lost Bitcoins be *replaced* by Bitcoin mining over time so that the market has the full 21 million in circulation.