What might destroy bitcoin as we know it now?

10 000 question challengeCategory: Profits (trading, ICO, mining)What might destroy bitcoin as we know it now?
HowToToken Team Staff asked 3 years ago
1 Answers
HowToToken Team Staff answered 3 years ago

Sead Fadipasic from cryptonews.com lists 3 factors that might turn the way world of cryptocurrencies is developing right now.

1) Takeover of BTC by government
This option was described by David Andolfatto, a researcher at the Federal Reserve Bank of St. Louis, and later refined by Sahil Gupta, an undergraduate at Yale University. Gupta created a system where everything works just like Bitcoin does, except the ledger is managed by institutions certified by the Federal Reserve.

2) Facebook launching its own cryptocurrency
If FB decides to run its own cryptocurrency, they will immediately have a user base of 2.2 billion people. They could even make a hardfork of bitcoin. Both options are likely to hurt original BTC significantly. Integration of user-friendly wallet right inside FB will make it much easier for an average user to get along with cryptocurrencies.

3) Coins for everything
“My vision of the future is that there would be thousands if not millions of ways to pay for stuff,” Campbell Harvey, a professor of finance at Duke University, was quoted as saying.

Scientists are impressed by potential opportunity to move from one chain to another directly. A broker would facilitate these exchanges and help you find the coin you need, in exchange for one you already have.

The main point behind these ideas is simple: convenient solutions will win.