Other than banning it, what is the biggest risk to the price of Bitcoin? What circumstances may kill Bitcoin or bring it down to less than $10?
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No one can determine the effect certain threats will cause, but some "popular" threats are:
- Extreme government regulation.
- Bitcoin losing to a competitor coin.
- Technical attacks, including attacks on protocol (51% attack) or attacks on cryptography.
- Intentional market manipulation to crash the price.
Some factors that can drive these events to be more likely to occur or enable them are:
- Unresolved technical issues, such as blockchain bloat, or transaction limits within blocks.
- End of or diminishing block rewards causing people to abandon mining.
- Increased centralization for whatever reason (advanced technology, zero power costs, etc.)
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