Some concerns I have about holding bitcoin long term.
I am excited that square and now PayPal are supporting the mass adoption of bitcoin. But I have some concerns about bitcoin long term that I am curious what this sub thinks.
1. what would happen if the majority of governments crack down on bitcoin? For example creating policies or regulations that destroys the prospect of mass adoption of bitcoin?
2. There are a ton of other crypto currencies that seem to be more efficient in transaction speed and have more features that bitcoin. For example ethereum is actually Turing complete and can complete transactions in seconds vs the minute long transaction of bitcoin. If cryptocurrency were to be mass adopted why would bitcoin remain as the dominant cryptocurrency vs other currencies?
These are my main concerns in buying bitcoin at the moment. And I am curious what you guys think. Thanks.