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Author Topic: What Would a Bitcoin Collapse Look Like?  (Read 1058 times)
Coinbuddy
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May 11, 2015, 04:55:42 AM
 #1

Collapse. It seems to be a word that is becoming more and more relevant in our everyday lives. The economic collapse of Greece. The collapse of the Petrodollar. The collapse of our civil liberties and constitutional rights. And the upcoming collapse of the U.S. Dollar. There’s a lot on our plate right now, but why not lay all the cards on the table? What would happen if Bitcoin collapsed? This possibility is much closer than you think, and efforts to avert it are underway, but what if nothing was done? Let’s pretend everyone just acted like everything’s peach fuss with Bitcoin and its current block chain trajectory. All the signs were ignored, and more and more people jumped on the Bitcoin bandwagon. Here’s a glimpse into one version of the future.

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May 11, 2015, 07:14:57 AM
 #2

As you said everything is possible to happen, we should invest what we can afford to lose. But we cannot ignore the potential of bitcoin technology. All we need to do is to continue  doing what we are doing now and shouldn't get distracted by the all around doom saying.

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May 11, 2015, 07:21:53 AM
 #3

no one would really care, besides us bitcoiners, if a collapse will ever happen, because of the fact that they consider bitcoin died already

but we are on the urge to resolve this issue, i'm sure we will find a better solution than the past

also i read in the article about the 200 transactions per second of visa and only 7 for bitcoin, so we are at about 1/7 of it, it's not that bad actually
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May 15, 2015, 07:49:44 AM
 #4

As you said everything is possible to happen, we should invest what we can afford to lose. But we cannot ignore the potential of bitcoin technology. All we need to do is to continue  doing what we are doing now and shouldn't get distracted by the all around doom saying.

Thats Right. Just ignore the people who are against the use of bitcoin. Lets just concentrate on our work and try to make bitcoin bigger n bigger and start introducing it to our friends and family as we know that mouth publicity is the biggest publicity and try to make our bitcoin community more bigger.
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May 15, 2015, 09:42:28 AM
 #5

tbh I really don't care for bitcoins price. I work on it, so people can gain an advantage instead of forking out loads of money for services such as WU. If the price dropped, I would still be using it as far as I have a bitcoind running on my servers.

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May 15, 2015, 02:36:39 PM
 #6

This has already been posted in this other thread:

https://bitcointalk.org/index.php?topic=1056704.0
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May 15, 2015, 05:26:20 PM
 #7

A bitcoin collapse wouldn't be very spectacular in my opinion.

I see it like the universe, we are a small star, we would just implode in on ourselves, only really effecting those involved.  When the big star USD comes down, it's going to be like a Supernova blowing up and taking down everything around it, even those with little to do with it.
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May 15, 2015, 07:59:26 PM
 #8

It will be a very slow decline, as the grumpiest among us will hold out for decennia.


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gripflierGO
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May 15, 2015, 09:45:08 PM
 #9

tbh I really don't care for bitcoins price. I work on it, so people can gain an advantage instead of forking out loads of money for services such as WU. If the price dropped, I would still be using it as far as I have a bitcoind running on my servers.

Ya I don't think its collapsing. And even if it is collapsing I still continue with bitcoin unless it is dead and honestly speaking that day would never come. So I am not thinking at present value of bitcoin but my focus and vision is very much planned so being patient hoping for the best.
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May 19, 2015, 05:06:29 PM
 #10

A bitcoin collapse wouldn't be very spectacular in my opinion.

I see it like the universe, we are a small star, we would just implode in on ourselves, only really effecting those involved.  When the big star USD comes down, it's going to be like a Supernova blowing up and taking down everything around it, even those with little to do with it.
nice

i think the big collapse is when dominated of usd s going to dump, and rate of btc is no longer in a right track, but everyone got a big hope of this btc, they are imagine someyears somehow the rate is going to 1000$ in this rate

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May 19, 2015, 05:35:13 PM
 #11

Re: What Would a Bitcoin Collapse Look Like?


This is what it would look like:

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May 19, 2015, 07:48:25 PM
 #12

 Sure it can happen,present internet can crash in 2025 if will be not improved
I am from Poland,my blockchain wallet is reporting me poor nodes,and i know thare are  not nodes availabe here,it is center of europe,if blokchain will be not improved will be more and more slow and ppl will go away from btc,that is all
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May 19, 2015, 07:51:15 PM
 #13

The factor I worry about is a loss of net neutrality. If that happens bitcoin's fate is in the hands of your ISP. They could demand a fee for all bitcoin traffic or just not allow it at all.

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May 19, 2015, 08:42:07 PM
Last edit: May 20, 2015, 07:02:06 AM by Amph
 #14

The factor I worry about is a loss of net neutrality. If that happens bitcoin's fate is in the hands of your ISP. They could demand a fee for all bitcoin traffic or just not allow it at all.

couldn't you use something like tor to hides your traffic, or an alternative proxy? it should be like any torrent file in the end, i'm hiding it using a vpn
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May 19, 2015, 08:47:46 PM
 #15

The factor I worry about is a loss of net neutrality. If that happens bitcoin's fate is in the hands of your ISP. They could demand a fee for all bitcoin traffic or just not allow it at all.

couldn't you use something like tor to hides your traffic, or an alternative proxy? it should like any torrent file in the end, i'm hiding it using a vpn
Yes. I think so. However it would greatly hurt adoption if it were even partly banned. My hope is that BTC will spread to normal people. They need it as much as anyone to counter the power of banks. I would work to evade any such measures, but it would be a very specialized currency at that point.


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May 19, 2015, 11:10:29 PM
 #16

If we ever fix that double spending issue, or have the core with a new upgraded wallet that handles more then 1mb and handles the issue with zero backlogs after the bitcoins mined its becomes more due-able for bitcoin.

If the us dollar collapsed? Its already been collapsing though in value since like the 1960`s. For the value to completely go to zero its absurd though since we got foreign aid as credit cards which then lend to us when we need it.
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May 20, 2015, 12:25:04 AM
 #17

It collapsed 3 times already, it is no mystery what it looks like.

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May 20, 2015, 02:51:07 AM
 #18

Youre talking about a major collapase like hitting zero?

Or you talking about minor one, but still comes back with some sort of support. One of the major ones was the mt.gox with $1k price then hitting it to where it is now today.

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May 20, 2015, 03:33:32 AM
 #19

When the price lost more than 30%, you can call it was collapse, it already happend 3 times, but bitcoin is still alive and develop very well, noting could stop it.
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