What Can Stop Bitcoin In 2021?
Most scenarios have now been disproved — so what’s left?
Twelve years ago, when Bitcoin was in its infancy, it was very vulnerable.
Stopping it would have easily been accomplished in a number of ways. For example, any simple low level law, even if it was vague and inefficient, would have sent a message from the establishment that any further development on it would be pointless.
Perhaps someone with a couple of decent computers could have just kept hi-jacking the blockchain or simply stopped others mining via any sort of hacking action — a fairly straightforward task since the entire Bitcoin network was managed by little more than a few personal computers at the time.
Even a few techies or media influencers spreading enough FUD (Fear, Uncertainty and Doubt) in the early days may have been enough to put people off the idea.
This would have undermined confidence and finished any utopian ideas of a non-sovereign based currency, but probably only for a while. The reality is that the idea of a decentralized (or at least non-sovereign) currency is almost certainly inevitable.
Even so, none of these things happened. Each day that passed, Bitcoin grew stronger and now, as Bitcoin's star rises against a backdrop of failing fiat…
