Bitcoin's future as a currency - does it have one ?.

Bitcoin's future as a currency - does it have one ?.

The question I am asked over and over is "will the governments ban bitcoin and the other cryptocurrencies and if I buy into the dream will I lose all my money".

The answer to this question is most likely Yes, governments will try to eliminate bitcoin as it is dangerous for them and has the power to actually kill them stone dead.

Will you lose your investment?
That's the 64 million dollar question, each time bitcoin has had negative press the price has dropped, after the MT Gox hack, the price was crushed, down from over 700$ to 200$ and stayed there for 2 years. Will this happen again, well history repeats so yes would be the answer?.

So how will government cope with bitcoin and crypto ?.
I think a total ban is not on the cards. The way I see it is governments can very easily say OK bitcoin is legal and must operate along the same lines as credit cards. So when you buy anything you have to enter your name and address when making a purchase just like a credit card. This will be the most likely outcome I suspect.

Maybe at first, they will try to criminalise it by saying only terrorists, drug dealers, child porn syndicates use Bitcoin and crypto but I cannot see this having much effect.

We live in interesting times for sure.