

Ask HN: Events in the near future that can crash Bitcoin's value? - mattquiros

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?
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a3voices
The 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
It 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
> 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
if more people try to sell bitcoins than want to buy them, the price will
decline. possibly rapidly.

