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RE: Bitcoin is unstoppable: Is it really?
Bit late to the party on this post but I totally agree. If Bitcoin does become a lot bigger than it is now then I'm convinced governments will shut it down by regulation and red tape. Look at how they are attacking Facebook now and other social media as they realise the so called main stream media which they can so easily control is a dinosaur. They want that power back off Facebook and sadly the same will happen with Bitcoin.
@somecoolname, thanks for the comment.
Since I published the blog a couple of weeks ago, the situation seems to have moved from bad to worse. China has moved from just banning ICOs and exchanges to even trading of cryptos, there was even rumors of them banning mining. Other countries may yet follow China's lead in this area. Remember, The Chinese stated that they want to be leaders in blockchain tech, but not just any old blockchain. A gov would want a centralized blockchain that they can monitor and control non of that decentralized anarcho-capitalism stuff.
And then there's all this talk about war on cryptos and revolutionary talk from people like McAfee which is sure to either make the people in power laugh (because they don't believe it will come to anything) or scared in which case they will do their hardest to make sure it doesn't happen. In the short term, this kind of provocation is likely to lead to yet more clampdowns and restrictions and sooner too.
There's been more and more attacks on cryptos lately the latest example being Mr Dimon coming back for a second dig at BTC, and more countries talking about regulating or issuing their own cryptos.
Seems right now, BTC is in a holding pattern and trying its best to ignore what's going on. Let's hope things settle down again for a while and we can avoid WW3 taking place on the blockchain.
If they ban mining then that would be massive as half of the mining is done there. The transaction times are way too long for Bitcoin to be an actual payment method in the real world so all we have is a store of value now and that seems to be taking a beating daily.