As I see the biggest risk to Bitcoin is not that it's price might go down, but the US elite. Currently they see it as a play tool for the commons, but they might see it as a threat to the $ soon.
We are at all the time just one executive order from seizing all the ASIC miners in the US.
With that the US gov can start mining empty blocks with 0 transactions, and then bitcoin could easily get into a death spiral.
Nobody could transfer bitcoins because all the blocks are mined empty, all the miners in
China, Russia, Kazakhstan,
Malaysia,
Germany will stop because they just lose on electricity and gain nothing,
as time goes the US can lower it's hashrate for the attack and in the end to keep mining empty blocks in the next 100 years will cost them nothing.
I'm not saying this will happen but the risk is always there, the US did strange things to defend the dollar, just remember the Gold Reserve Act.
Altough it's surprising how lenient they are with bitcoin, and how strict they were to other private currencies like Liberty dollar.
Looks like they still don't consider bitcoin as a threat, or maybe they just want Russia, China, Iran, North-Korea to be dependent on Bitcoin before their move?
There is still a ultra
high risk to loose your
investment in Bitcoins because of the price to be that high now.
For the ecosystem the price going down is not a big risk, funny but very high price and lots of hodlers but no users is the worst scenario for bitcoin.
Price dropping would just invite new speculants and young people to try it and get new believers.
Sometimes it makes me a bit worry that Bitcoin is very unpopular among GenZ, even if they are in
crypto, mostly in memecoins and the majority leaves quickly because very few wins on those.
launch of quantum computer that can break sha256 isntantly hacking all bitcoin wallets and killing the basic narrative of bitcoin's network as the most secure in the world.....
Most of the hashing and mining part are safe from quantum computers.
What is not are the addresses where the public keys are exposed, because with QC it will be trivial to get the private key from the public key.
Bitcoin is full with those, Satoshi's and many OG miners' coins are unsafe, about 2 million BTC.
Those "forever lost" bitcoins will likely come back to circulation within 5-10 years.
Many said that was Satoshi's goal, to make a big nice BTC reward to whoever reaches Quantum supremacy first and accelerate its development.
As Bitcoin price grows the reward pot becomes higher and higher.
This is just a one time problem though, if you use one-time cold wallets your BTC is safe as you have never signed a transaction with it.
Quantum computers can only get the private key from the public key, not from the hashed address.
Regarding the quantum computer breaking encryption, your bitcoin holdings would be your smallest problem, as this would mean that suddenly all passwords and codes for EVERYTHING become obsolete, from your online banking with traditional banks, all credit cards and digital payments, even that upcoming CDBCs, stockmarkets, to your health insurance, your countries military agenda and secrets, secret services and police databases, and everything else that's digital and accessible via the net. That's gonna be an apocalyptic event with huge consequences.
Not necessarily, sure if someone intercept your internet traffic they will break your TLS easily with quantum computers, but it's just an individual problem, any large gov agency probably can do those MITM attacks currently to any individual, most of the servers will still be safe enough as they still be able to restrict IPs etc.
but I can tell you it is more than what you can count fingers on all hands on 20 people.
count me in for that deal, all game
