Bitcoin Collapse

Anything and everything directly related to Bitcoin
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Joined: Wed Sep 20, 2023 6:45 pm

Bitcoin Collapse

Post by XRPETF »

This may sound like I am a doom monger but I believe in knowing the worst case scenarios (within the realms of possibility) is more important than knowing the best case scenarios. So, what possible scenarios could see a Bitcoin Collapse? I mean collapse in the sense of either the Bitcoin blockchain or the Bitcoin price (or both)
wen xrp etf
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Joined: Wed Apr 24, 2024 7:49 am

Re: Bitcoin Collapse

Post by rollieollie »

There is less than a 1% chance of Bitcoin ever going to zero but there are scenarios in which 'Bitcoin Collapse' could happen. Some possibilities, in no particular order are:

- The Bitcoin supply becoming too centralized, being held by either one or too too few entities, resulting in people simply 'giving up on Bitcoin'.

- Legal crackdown, resulting in only black market use of Bitcoin.

- Global catastrophe rendering computing devices useless (probably more to worry about at that stage than Bitcoin collapse).

- People viewing an alternative as better than Bitcoin and 'switching to it', ie. Bitcoin becoming obsolete for the purpose people think it was intended.

- An 'inside job' where the blockchain is intentionally developed in a way to ensure its technological downfall.

Not a complete list I am sure, maybe somebody else has more to add..
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