Everyone knows the warnings: “in the event you spend money on crypto be ready that you could possibly lose all of your cash” yada yada. My perception is that both bitcoin turns into THE reserve foreign money, or it fails fully. There’s probably not a lot center floor. In 10 or 15 years it’s going to both be price (nearly) EVERYTHING or nothing.
So I’m to listen to opinions on what might trigger bitcoin to fail and turn out to be nugatory. The way in which I see it there are two prospects:
1) the value regularly declines over time in direction of zero.
2) some main black swan occasion occurs and destroys the value in a single day.
I battle to envisage 1) occurring, as a result of a regularly declining worth will all the time are inclined to get propped up by individuals seeking to time the underside, if no occasion has occurred to place individuals off shopping for bitcoin altogether.
Which leaves 2). Bitcoin getting worn out by some main occasion. What might that be? A hack? A technical drawback? The US making it unlawful to carry? (Unenforceable and would simply push individuals underground/offshore.) Some sort of super-FUD I haven’t considered? Everybody out of the blue deciding that one other coin does the job higher?
Notice this isn’t in any method meant to be a damaging publish. I’m simply attempting to grasp what might cease bitcoin taking on the world.