It feels like Bitcoin is winning. But if it fails over the next 1 to 10 years, why do you think it did? What are the most likely causes?
Discussion
sieze up in economic transactions
removal of exchanges
more emphasis on "tainted" coins
bifurcation into regulated and darknet lightning
I think that governments and big corporations still have the ability to exert too much control over bitcoin. We see this with Saylor and his desire to ossify but he’s still small potatoes. What if the US creates an SBR? What sort of power will they try to exert over core devs to protect their reserve? I see bitcoin as freedom money. I’m concerned that it will be co-opted before we have sufficient freedom from centralized control.
The only way for it to fail is to start shutting down miners. And then it hasn't failed. Because lets say Texas shuts off all miners yes price drops but bitcoin is still alive and well because all we need for to keep running is 2 nodes and a miner
Sure that’s true. But a network of two nodes and a miner is failed.
My point is bitcoin cant die or fail.
It definitely can. Each year it succeeds, the probabilty of failure decreases but the possibility remains.
What I mean by failure is that it stops monetizing. It loses users, people stop caring about it and it falls into obscurity. This future is still very much on the table.
Bitcoin only fails if we fail.
The definition of fails when it comes to bitcoin is completely subjective at this point…
People is stupid or brainwash