What Can Cause BTC To Crash❓
If the U.S. wants to suppress BTC, the price of BTC may collapse in an instant
Decentralization has always been one of the cores of BTC. Decentralization means that it is not easy to be manipulated, which is also the basis of the BTC consensus system. But the decentralization of BTC also means that it is not easy to be regulated. This is also the contradiction of BTC, and it may become a hidden danger to the development of BTC. If BTC can develop to a certain scale and be supported by most countries in the world, then its decentralization is the biggest advantage. In theory, BTC as a decentralized currency system is indeed a symbol of fairness and justice, but in fact, society has not developed to this point.
At present, the attitude of most countries towards BTC is not clear. BTC can only be said to be hovering on the edge of legality and illegality. BTC's consensus system is not perfect. In particular, the world's second largest economy is very unfriendly to too many BTCs, and it does not even rule out the possibility of a total ban on BTC. Of course, these are not the key factors that affect the direction of BTC. The most important thing is the attitude of the United States towards BTC, which almost affects the survival of BTC. If the United States were to suppress BTC now, the price of BTC might collapse in an instant.
Of course, the current full suppression of BTC is not in the interests of the United States, because some capital giants in the United States are the biggest supporters of BTC. If BTC crashes, they will suffer the most, so they will not want to see BTC crash. However, the decentralized nature of BTC makes it difficult for BTC to be supervised and controlled. This problem is also being used by some interested people. This is obviously not in the interests of the United States, so some people have put forward some strange points, hoping to effectively supervise BTC.
Bill Foster puts forward the theory of reversing cryptocurrency transactions, aiming to control the development of BTC
Bill Foster, co-chair of the U.S. Congressional Blockchain Caucus, proposed a wonderful method on Tuesday, hoping to have the right to reverse cryptocurrency transactions that have already been completed. It means that some people illegally use BTC to transfer assets, or directly participate in criminal activities, such as collecting ransoms and commissions. Bill Foster stated that it is possible to reverse the completed BTC transactions through legislation on cryptocurrencies. This sounds similar to using a bank to freeze illegal transactions.
In the previous oil pipeline extortion incident in the United States, most of the BTC ransom collected by the hacker organization was successfully recovered by the FBI. This suffices to show that the United States not only wants to control BTC, but has also used technical means to implement it. If the United States passes legislation to legitimize some of its actions, then BTC may be completely controlled by capital giants. Of course, many people think this is just a joke, but this is not completely impossible, because the design of BTC is not unchangeable.
Bill Foster's views may seem ridiculous, but this may represent the attitude of the United States, because his identity is very special. In fact, the current decentralization of BTC also has water. BTC has the possibility of being highly controlled. Capital giants have a tendency to speculate on BTC. And if the reversal transaction can be exchanged for the support of the United States, I think there will be many investors supporting it, but it will not be a privilege of the United States.
BTC relies heavily on the United States, and the possibility of being regulated will not be ruled out in the future
Of course, if BTC is really controlled by the United States, this may cause problems in the BTC consensus system, which is not conducive to the development of BTC. But don't forget that some capital giants in the United States are actively setting up BTC organizations, claiming to serve BTC. But in fact, they just want to make some rules for BTC, and it is not ruled out that they will jointly launch some new blockchain protocols to make BTC controllable and anonymous. I personally think that BTC wants to develop in a healthy and orderly manner, and it will definitely bow to regulation in the end.
The current social conditions are not suitable for BTC-style decentralization, because people's selfish desires are too strong. Decentralization is easy to be used by others, and it will eventually become a rat crossing the street. Therefore, it is better for BTC to establish a pseudo-center so that it can provide investors with some special services through technical means. BTC is not a place outside the law, and Bill Foster's bizarre regulatory policy on BTC is not incomprehensible. The future of BTC is full of uncertainties. Don't make the United States angry until the problem is completely solved.
You must know that the United States still controls many BTC ETFs, and there are new ETFs that are stuck in the application status, which will directly affect the direction of BTC. There are also multiple BTC trading platforms in the United States, which are a key element of BTC hype and the biggest beneficiary of BTC's development. If the United States closes these BTC ETFs and BTC exchanges, it is likely to cause a chain reaction of BTC, leading to the collapse of the entire BTC system.
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