Bitcoin Forum

Is it possible to destroy bitcoin?
What are the factors that can destroy it?
How can we prevent this event to occur if this is possible?
Share your thoughts :)

 it is a possibility if Bitcoin is urged by the government so there is a concern for all bitcoin communities in the world. Bitcoin is currently regarded as a commodity market rather than a currency recognized

There is a chance  that bitcoin could be destroyed if governments make a move to ban it. We should support and never take advantage of it to preserve and protect it. Bitcoin is not recognized as a currency so it is not advisable and recommended by the government.

No.


Destroying Bitcoin is impossible -- both physically and figuratively.

People could stop using it, and the blockchain would grind to a halt if all miners shut down. But Bitcoin wouldn't be "destroyed." At any time, miners could just pick up where they left off and the blockchain would continue.


Governments can discourage people from using Bitcoin. That's all.

no matter how bitcoin it drops down so it can be said that the bitcoin was destroyed, and Destroying Bitcoin is impossible -- both physically and figuratively.

Bitcoin is unlikely to be destroyed because Bitcoin users are huge. If the government takes action, it may be possible but it will take a lot of time to destroy it. We are hesitant about the Bitcoin demolition of Bitcoin.

There is no possibility that bitcoin will be destroyed in the sense that many people using btc will not allow that to happen, Why? because with bitcoin you can earn great profit within a limited time. It would be much greater if it will be invested in long term basis and as btc supporter, I personally do not support. My thoughts.

To destroy Bitcoin as it's form government needs to do extreme measures. What they need to do is to cut off the internet world wide and probably destroy all computers in the world. As long as we have computing power block chain can still be used.

Now if you are saying figuratively then all government in the world needs to totally ban bitcoin. The price will drop tremendously, but technically  crypto users can still use it.

I think there are better chance that I will win the lottery than seeing bitcoin to be destroyed.

In my opinion, Bitcoin cannot be destroyed unless it will be sent to a wallet where no one can access the private keys similar to coin burn. Destroying bitcoins means an upsurge on bitcoin that is left, it will have  price spike since the small the supply, the higher the price. Even though it is totally ban by a country, there is still a way to use it underground as long  as there is internet. Its hard to  "destroy" it.

All right, so let me answer your question one by one. First, yes, Bitcoin could be destroyed. But let me be very clear about it. The only thing that could destroy Bitcoin is the people itself and nothing else. That is the only very vital factor here. For your third question, the best thing that we can do to prevent this is to continue buying, using, and hodling Bitcoin. And we also have to continue spreading the word about Bitcoin so that others may also see the great benefits they can have from it.

the bitcoin digital currency may be destroyed by government rules. This is also due to the anonymous nature of bitcoin transactions.

It is totally impossible matter.now in the world bitcoin is the most famous digital currency.in the world bitcoin popularity is so hlgh.day by day people invest it ,trade it.

Only one reason can destroy it. It will happen if US government completely bans bitcoin investments. They will not take such a  decision though in my opinion.

No it is not possible  that bitcoin going to destroy  so soon.. Bitcoin yes alive and alive and very much awesome  never to be due or destroy

Bitcoin can destroy with bellow two facts ,

- Government regulation for  restrict the use of bitcoin - totally ban from main countries.
- Some mechanism to break the block-chain technology- 99.999% sure this will impossible  

I highly believe bitcoin could destroy

Destruction can come in many forms. If anyone finds some kind of exploit in the system that it's built on, I guess bitcoin could be destroyed. Bitcoin could also be destroyed if no one wants to buy it anymore. Since bitcoin is both a new technology as well as a currency and asset, I see both of these options resulting in some "bitcoin death."

I think it's pretty far out there in terms of probability of happening. I doubt something like this will happen in the near future.

I think that if governments and banks do not destroy Bitcoin, it is rather impossible. Unless everyone suddenly stops buying btc, or technology fails. And it's hard to imagine.

It is impossible to completely destroy bitcoins due its decentralized nature. Although governments in some countries may curtail activities and transactions involving bitcoins in their economies; people would still transact through the back. The reason being that  no single economy has control over bitcoin and blockchain technology.

its impossible to destroy bitcoin. if governments are against the cryptocurrencies but they cant destroy it because technology always win. last some few days there was a big dip and new people in crypto was thinking that its over now but you yourself have noticed the rise in price afterwards .. so this correction is always needed for the healthy markets .. :)

I think destroying Bitcoin is quite impossible because it is not a thing so nothing to be destroyed. There's a possibility that the government could ban it thus mining will be stopped but as long as there's technology and there are computers that can be used for transactions, people will still find a way to earn through alternative options.

If government will intervene in bitcoin where there is a total ban and will be supported by majority of the major countries, then that could be a big problem however, in my opinion this will not happen as this is now widely supported by many countries and more people are supporting btc a lot. There is much greater profit in bitcoin for as long as you know how to play with the cryptocurrency market and the knowledge on how your going to handle your investment.

That's true if they want the bitcoin banned them but it is not easy to let the bitcoin will going to dissappear, Because it have many people using it and gaining some profit in bitcoin because it was good to using it.

On this forum, on the site https://bits.media, and also simply on the Internet you can get acquainted with all the information about bitcoin. Do not be lazy if you want to become a rich man.  ;)

Everyone is implying statements which mean two outcomes, they will say that bitcoin is testing the support and we might see a new test this time may be ATL , we are also long term bullish on bitcoin.

The first part means that BTC will be down , second part means that btc will bounce back. whichever parts gets true speculators will come forth and would love to get the appreciation for their prediction.

- Yeah if you want to destroy your bitcoin than burn it to bitcoin address whose private key is not known to anyone  ;D Other than that there is no way to destroy already mined bitcoin.

- Price can fluctuate but we can't say bitcoin is destroyed even if price falls to under a dollar.

You can't destroy bitcoin.... It's like saying you can destroy internet, crime, weapons. You can regulate and make it illegal but you can't simply destroy it.
I wouldn't be even concerned about crypto ending. It brought blockchain which is best thing after the internet.
Many people oppose crypto cuz it is something new and people fear what is new and if they dont understand that new thing.
Same thing happened with internet, but noone talks about it anymore.

I do not give a shit like this. Most people have earned incredible money on behalf of the bitcoin market. I think it's a big step for the future.  8)

If they want Bitcoin to forbid them but it is not easy to let Bitcoin disappear, because many people use it and make a little profit from Bitcoin because it's good to use it.

Destroying Bitcoin means an increase in Bitcoin is left behind, it will have a price spike since the supply is small, and the higher the price, even though it is really prohibited by a country, there is still a way to use it underground provided there is internet

In my opinion, Bitcoin can not be destroyed unless you and others no longer need money. is that possible as long as you are still animate?

The possibility of bitcoin destruction is when the government in a whole will ban the people to use cryptocurrency. It might be go in a black market system but I think it is difficult to invest again since it not legitimate. The other reason for bitcoin removal is when the people will stop to use cryptocurrency. If the demand for cryptocurrency will totally loss, it may result to devaluation of the market.
Well, I think that is impossible to happen since bitcoin is helpful in the economic growth and individuals are benefited by bitcoin.

Destroyed in what sense? Some people have already said that if or when governments 'ban' cryptocurrencies then bitcoin will die but in reality is it even possible to ban bitcoin. The fact that is it decentralised and controlled by nobody surely protects it from this. Banks for sure could ban clients using their cards to buy bitcoin but in the long run i dont see this lasting as it just takes one bank to accept its clients to buy bitcoin to change the ideas of the others as this bank would surely become very succesful and profitable!

I don't think that bitcoin can be destroyed. The foundation that btc built is solid enough. Decades had past but bitcoin still rolling in the market. This means that aslong as crypt market exist then bitcoin will stand still in the future.

Destroying Bitcoin is not possible but unfortunately it is of course possible to devalue Bitcoin till zero if, like mentioned above, governments ban or tax cryptocurrencies with extremely high amounts like 70% or something. People will stop trading and using Bitcoin, start selling bitcoin and its value will be lost. Small chance though

Bitcoin didn't destroy anything, it gave people convenient on new kind of payment and the appliment with Blockchain system .
Well, some haters could say that Bitcoin destroy economics , destroy banks all over the world but that will happens when the new things are the way better than old stuffs.

Bitcoin can be destroyed if the Internet is turned off around the world, if large investors are disappointed together in this coin and start selling it, if there is a more promising and perfect currency.

By destroying bitcoin, did you mean that destroying bitcoin from the current supply? If so, then it is actually not possible to remove/lose/destroy any amount bitcoin from the market and total circulation. Again by destroy, if you mean the existence of bitcoin then the answer is also no. No one can stop the existence of bitcoin but can make it valueless.

it could be, the main factor that can destroy bitcoin is the holder or the bitcoin user itself.
this is just a matter of trust, bitcoin can be like this now because everyone believes in bitcoin and makes bitcoin as their investment asset.
and one day, when everyone else no longer trusts bitcoin. automatic bitcoin will be destroyed by itself, because the trust of people to invest with bitcoin has been lost.

The first option sounds a bit naive, it has minimal chances of success. But the fact that large investors, such as a Satoshi Nakamoto, can sell their bitcoins is worth considering. And such currency as the ETH and XRP may be ahead of bitcoin in terms of capitalization.

The probability in bitcoin to declined or to be destroyed is less than one percent I guess. Seeing how strong the bitcoin standing for more than ten years. Impression with the positive standing of bitcoin is not erasable. Maybe it is one in a million if bitcoin goes down.

bitcoin can never be destroyed unless there are no more enthusiasts in bitcoin.
when you have entered into the world of crypto you will you will already have entered in this addiction and madness ;)

I must admit that I do not have enough technical knowledge to go into this, but there are certain references to the power that quantum computing would have to break practically any existing computer security protocol. While it is true that the technology that could carry out the creation of a computer equipment of such power is still at a very early stage and is merely theoretical, it could be a risk to take into account in the not too distant future.

Why do people get the idea that bitcoin is tiny? I do not understand(
Given the fall of bitcoin does not foretell troubles, just after the next fall, it managed to grow by 100%, so now there is just a small correction in the market and soon we will see its growth again! To the moon!

Yes anytime bitcoin can be destroy by the government but its not that easy to do. As many investor now in bitcoin I believe that they wont let it happen. If I were you I must enjoy using bitcoin as long as it was existing and just go with the flow of it. Maybe soon government will support bitcoin too. No one knows but its not bad to believe on it right? Just value everything that you have.

Bitcoin is already almost impossible to destroy. There is no longer any chance that the governments of the whole world will unite to prohibit bitcoin, since it is already recognized by a large number of them and is marked as a revolutionary and promising form of financial calculations. Bitcoin can be destroyed only if people stop using it and use it. However, this is also very unlikely, since those who have already become acquainted with it and have had an opportunity to evaluate its functionality as crypto-currencies remain very high opinion about it.

I have never thought about the destruction of bitcoin, maybe if all the countries around the world are united and simultaneously forbidding the bitcoin trade it might be destroying bitcoin, and I think it's not that easy, we can show positive properties for bitcoin so it does not happen .

I strongly believe that bitcoin cannot be easily destroyed. It is a established cryptocurrency like the others. It also undergo trending and it just so happen that at this time, bitcoin is in its downtrend but it doesn't mean that it will remain as ease.

the possibility for the totally bitcoin and all crypto goes die if the world internet organization order by the world government organization to stopped internet operation go shutdown all system, in this way of idea bitcoin goes totally destroyed and die in the market. but this scenario are very impossible because only the world war can stop the internet operation and bitcoin operation as decentralized currency if all system of internet destroy by war.

I don't think so that bitcoin can destroy even the government they can't stop or destroy bitcoin because this is have a investor who are most powerful than them. Even they ban bitcoin in their country do you think no one of their country men didn't use bitcoin? The one thing that can distroy bitcoin if the developer shutdown all the hardware or server that connected in bitcoin so that is the possible thing to destroy or stop bitcoin.

bitcoin will not crumble easily, because bitcoin stands by sophisticated technology. one day bitcoin must be destroyed but it takes a very long time and possibly doomsday.
one that causes bitcoin to be destroyed ie the death of internet network and power failure.

Bitcoin is possible to destroy because its only a digital aspect of money you can not hold it only just see it by digital devices and the factors that can destroy it as all people say government can destroy it just like what korea do they ban bitcoin and no one can used it in their country. I think we can prevent bitcoin if more more people use it and more people and big companies support on it and invest to it thats the perfect thing I see to prevent bitcoin til future comes.

that's right and I think they do not have the right to destroy the bitcoin because it has a lot to help around the world and for a long time it will bring a good future.

I think bitcoin can be destroyed but it will take a lot of time and effort to make it happen. Bitcoin is a crypto currency which is alive in crypto world and I think it will only be destroyed if the world of cryptos die as well as the internet used to have access with these cryptos. If government wants to destroy bitcoin, the only way to make it happen is to stop using internet and ban it totally so no one can access it which is impossible. In other words, bitcoin is impossible to destroy.

I don't see things to destroy bitcoin but what I have been rrading are demand for losing it. Yet others are through manipulation and some sorts of banning in an specific country. I guess it would jut hang on that, no less and no more.

only way for us to become more sure of this one is if we are persons who use our fist to destory bitcoin :D :D
haha i cannot say for sure if bitcoin become destroy in future , maybe if you buy for me crystal ball i better know answer of this question for you :D

Maybe the weakening of Blockchain transactions, or too little shipping costs, and no mining works in Blockchain, which eventually makes bitcoin crumble !!

No, if I ask? bitcoin is very difficult to destroy because it really is really good. Many people want it to end but they are frustrated and just give up. Yes we know that people are strengthening bitcoin. And the man can break it. But in our day now the more bitcoin supports, than the destructive people who want to end it. Hopefully we will continue to support bitcoin and let's not lose it forever. :)

Yes if it was that easy then it could have been destroyed billions of times by the governments until now.

Nope. Bitcoint cant be destroyed. The blockchain technology is known to withstand hacks through its advancement.
BUT in other way, I can say bitcoin can drop price SOMEHOW, assume all the investors sold their bitcoins, notice how the price will fall down. That way bitcoin might be destroyed.

Bitcoin can not be destroyed. It can be hit the prices of bitcoin can be soar a lot but not disappear, there might be several reasons, government policies, technological improvements. 

bitcoin still #1 crypto in market cap and in price. I dont understand how it bestroyed

Bitcoins destruction has been a bothering news years ago, but as we can see, its rate has been continuously growing  and growing it has been really successful through out the years and we can tell differences from the passing years. Though we can tell the future we can make it happen that bitcoin can be successful, more successful through the future and coming years. 

Bitcoin will die if only we the mass people choose to drop all the modern tech behind and go back to stone age.

Some people wanted to destroy btc but always failed with their plan and instead of getting weak it is getting more stronger as we can see on the previous years. It reaches $20k which everyone was surprised and still there are people don't believe its capabilities. And this year, it faces different problems which makes us becoming worried and some are questioning about its disadvantages. Nothing can destroy btc and as long as there are miners btc will stay forever. It maybe goes down but it will never ever gone in the market.

For me it is hard to destroy bitcoin because it is very stable enough and it can stand alone in the market. Their are people trying to destroy bitcoin but they are failed to do so, because bitcoin has potentials and it contribute biggest achievements to our country and it helps our economics to be in standard.
If it will destroy maybe many people are unemployed again and cannot sustain the needs of their family because many of us rely in bitcoin as way of living.

Bitcoin is likely to be destroyed,but very few.Because many people have been associated with Bitcoin in a short time .The government can stop Bitcoin because the government has all the powers.However,it will weaken the financial structure.I am worried about the loss of Bitcoin.

Well, it would be possible only if the governments in all countries will ban bitcoin. Also if everyone will stop buying bitcoin and will stop using bitcoin. But i don't think it would be happen in the near future, because in many countries bitcoin is accepted, and a lot of people keep using btc and wants to invest.

I think it's impossible. Because of simple thing, if it is possible to destroy, it haven't had its position like today. And people who are holding a lot of bitcoin all over the world will not let that happens.

The price of bitcoin is so unstable, because everyone is used to counting in dollars! At any time, panic can begin and the price may fall dramatically! But think for yourself, if everything in the world is equated and reckoned in bitcoins, it will be a completely different outcome!

This is the truth. Bitcoin cannot be destroyed in the nearest future as it is supported by millions of people. BTC is gaining popularity even when it is down.

It depends on governments, buyers, sellers .

I agree with you, Really government just doing discourage people from using Bitcoin. nothing more.I think destroying Bitcoin it is totally impossible.

Yes, but I think this will not happen. I mean "if goverments in all countries will ban bitcoin"

Everyone is implying statements which mean two outcomes, they will say that bitcoin is testing the support and we might see a new test this time may be ATL , we are also long term bullish on bitcoin.

The first part means that BTC will be down , second part means that btc will bounce back. whichever parts gets true speculators will come forth and would love to get the appreciation for their prediction.

That's the beauty of Bitcoin even if countries ban it they can't stop it from growing. It is a decentralized currency with no single point of source. Even if some countries ban it other countries are accepting it. There is positive news coming out of China, South Korea, Japan, India, USA and many more countries in regards to laws concerning Cryptocurrencies. So I don't see Bitcoin being destroyed any time soon.

With my little knowledge i would say it is impossible to destroy Bitcoin, the usage can be reduced or stopped.

Its impossible to destroy bitcoin from online platform because bitcoin use many ways and its most trusted and valuable coin.Most the country try to bitcoin and crypto and they added money laundering case for using bitcoin or other digital currency.Government do not control bitcoin and crypto because its blockchain network nobody cannot hack or access any identity but they reduce bitcoin price .

If a large number of governments turned at the same time. I think more than likely it'll be a quiet death though if and when another coin takes the dominant position.

A friend of mine told me that bitcoin cannot be stopped as long as the community behind it believes in this cryptocurrency!

One of Bitcoin's destruction options is this: If all sources of electricity, the Internet, and data communications were shut down at once, Bitcoin nodes would not be able to communicate with each other.
The system would immediately become unnecessary and unusable. - It would be a catastrophic scenario, and not just for bitcoin.
But I do not consider this option very realistic. But the question was: What are the possibilities of destroying bitcoin.
Another option that would damage bitcoin would be that the government closes all bank accounts of the cryptocurrency exchanges and also stock exchanges.
They can also ban the creation of any new business associated with cryptocurrencies. This restriction would have to be worldwide, otherwise this possibility could be bypassed by moving business to another country.

I doubt that even government ban would be able to destroy bitcoin. The price might drop drastically but it would still be used underground.

There is a possibility that bitcoin really destroyed if the goverment will step to ban it in our country so it will destroyed but we should think what bitcoin can give and what opportunity  would give to people thats the first thing they are going to think before they going to ban it or even theyre going to destroy it .

As what i have know and base on my knowledge nothing can destroy bitcoin although its price was falling and rising i think that nothing can destroy it because bitcoin was the next era currency. The digital currency that promotes wealth and give a graf help to human life . I only know that only falling iys price would affect bitcoin but thier is no possibilities to destroyed it because it seems also to have  recovery to its price.that was the beauty of bitcoin .

I guess first goverments will try to control it with some laws but if it cant be controlled then more agressive moves will come from them to limit it. So trying to destroy it will be last choice of them. Right now bitcoin in a fragile state and most of the people panic selling it.We will see who is collecting btcs, etcs in future(hidden powers behind them).

Personally think that the possibility of BTC being destroyed is there.

First hacker cracked the encryption system, or found the fatal BUG of the BTC system. This possibility is only slight.

and the second is the emergence of quantum computers. The BTC encryption system was directly cracked. This is also possible. The value is that the current quantum computer technology cannot be realized.

The third is the joint elimination of BTCs by various countries in the world, but this possibility is almost impossible because BTC is scattered, and many websites are anonymous, this situation is almost impossible.

I think the use of bitcoin is interesting to many people. In the government, including. So its use will continue.

No one person or group of person can't do that. It doesn’t work that way.
Can say literaly , all the miners could randomly decide, all at the same time, to unplug their machines and cease operating the nodes that maintain the network - but that would sort of be dumb given that bitcoin has yielded whatever 900% in the last year.

No,can not destroy Bitcoin. Because Bitcoin is created online. And it is used online. There will be Bitcoin as long as there are internet. But the government of a country can ban Bitcoin. If the government of any country prohibits this currency, then if the user gradually decreases then the bitcoin will be destroyed.But if we want Bitcoin users, government will be not able to easily destroy the bitcoin.Bitcoin will last for a long time.

Can any one destroy bitcoin? Nobody can destroy bitcoin. Nothing unusual is happening to Bitcoin at the moment and as a matter of fact, bitcoin has survived several attacks in the past. Bitcoin can only die if the community holding it decides to drop it but they are enthusiasts who will always protect their coin.

The King is Dead, Long Live the King! ;)

Bitcoin can never be destroyed it will only pass some challenges just like what is happening now! And I believe this will make it stronger when it's back to normal again. I will this opportunity to advance all beginners or newbies to always have back up apart from cryptocurrency you can convert your crypto to money save it in case of necessity because cryptocurrency investment is of a high risk!

I read an article yesterday that said bitcoin itself is doomed and it will lose its importance soon. It said Bitcoin cash is going to be the dominant cryptocurrency.
Otherwise I don't think that actual one bitcoin can be destroyed, at least as long as there is record of it in the blockchain..

Should you need to destroy an asset that can change your life for better? Should you need to destroy it because it can make you rich at any point of time? I don't think someone would need to destroy bitcoin not unless if you are a frustrated investor who sell off all your bitcoin during crisis only to realized that its market price went up so high the following day.

I wouldnt bet on that.

Please stop kidding, guy. Bitcoin and all altcoins follow cycles in the whole crypto market. Please spend couple of minutes to look at their historical price charts; be smart to realise their cycles, then you will understand what I mean.

No its impossible to destroy bitcoin, because no government can control bitcoin. If the government take any action against bitcoin it will take lots of time to destroy bitcoin.

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