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367 sats \ 0 replies \ @elvismercury 25 Jul 2023 \ on: What is the WORST case scenario for Bitcoin? bitcoin
I get annoyed when people act like btc is inevitable, but I suppose I shouldn't -- I think it probably is inevitable, by which I mean it will be (let's say) a force in the world that's at least 10x as big as it is now, maybe more. So that's a lot of success coming its way, obviously.
What is not clear is on what timescale. Being able to retire on my modest stash in fifty years is no comfort to me at all, since I will not live fifty more years. So the worst case scenario is that the US Govt basically declares war on it -- exchanges close, it becomes illegal to own or trade or mine, they set a few harsh examples by prosecuting people, etc. A handful of other governments would likely follow suit (e.g., the EU) and make similar laws.
This would not kill bitcoin! It wouldn't go to zero! But it would crater the shit out of the price for decades, and at that point I don't care anymore, it's useless to me. I'm not leaving my family and living some Jason Bourne life on the run in Guatemala just so I can pay for my hovel in sats.