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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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