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Ask HN: Events in the near future that can crash Bitcoin's value?
What events in the near future might take place and cause the Bitcoin value to crash? Planning to buy me some, but right now, the price is too high. Or is the only way up right now, really?
- a3voices 13y agoThe biggest risks are these: 1. Strong U.S. or Chinese regulation 2. An irreversible, fatal flaw in the Bitcoin protocol is discovered 3. A competing cryptocurrency, or other emerging form of money, manages to outpace it in growth and steal its thunder
- mattquiros 13y agoIt seems that Bitcoin will have a hard time recovering in the first two scenarios, yes? And I looked at the other cryptocurrencies but I'm not sure they're gaining any traction. If they do, however, why can't they just co-exist with Bitcoin without necessarily harming its value?
- a3voices 13y ago> It seems that Bitcoin will have a hard time recovering in the first two scenarios, yes It would recover if it is regulated, but it would take longer. It would be adopted in countries that don't regulate it so much. The chance of a fatal flaw in the Bitcoin protocol is pretty low at this point. > And I looked at the other cryptocurrencies but I'm not sure they're gaining any traction. If they do, however, why can't they just co-exist with Bitcoin without necessarily harming its value? I agree, and in this scenario it's likely they would coexist (or even bolster each other's value) I forgot to mention another possibility, which I'm sure has already happened many times. A large holder of BTC could suddenly crash the market. But the market recovers from this.
- actionbrandon 13y agoif more people try to sell bitcoins than want to buy them, the price will decline. possibly rapidly.