What are the biggest dangers to Bitcoin? What are the potential causes that it doesn't succeed? Goes to zero etc?
#asknostr #bitcoin #btc
Discussion
Govs stop printing money.
You and your funny facts. 😂😆🤣
That might do it
It would temporarily. Bc gov can help itself. So, not worried about that one. I was thinking ignorant masses.
*cant
Why would that do it?
Because if the US gov magically pulled its head out of its ass and went back to sound monetary policy the dollar could in theory grow in strength and attempt to retake its status as a powerhouse currency and the world's reserve.
I say might because the damage has been done and the withdrawals caused by going cold Turkey on Keynesian policies might also cause riots due to mass layoffs and sudden spikes in homelessness.
Just my theory
Yup nostr:npub1a2uzwplzy8uw79rrna6lr0mgxdmx3nfl0xrhcy7se7m24awk5ujqw032qc is right.
Demand for BTC comes from 2 things: 1) Inflation resistance 2) Censorship resistance.
Stop inflating via currency debasement and you remove 1 demand prong for BTC. Of course that's not just 1 country, that's all countries. Will never happen with idiot lying politicians in charge.
And if/once BTC reaches critical mass, something we're approaching, it becomes much harder to put the rabbit back in the hat.
Theorically it can survive WW3 and emp attacks lol. It's indestructible. The only risk really is a 51% attack but that's been debunked years ago because of the amount of money it would cost to achieve something like that only to have it all undone with a hard fork.
There are many, right now, centralisation of mining is a big one, the scalability of it to remain empowering and not just another rehypothecated thing.
A critical bug failure which is why supporting the developers that maintain it is important
Apathy where not enough users are both educated on importance of running nodes and actually running node