BitProdigy (OP)
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We Are The New Wealthy Elite, Gentlemen
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August 08, 2015, 07:52:13 AM |
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There seems to exist a subconscious inhibition which whispers to the individual, "Bitcoin might end. Bitcoin might die. Bitcoin might go away. All of this might be imaginary," but upon close inspection i find that the fear evaporates like a vaporous apparition.
I cannot conceive of a scenario in which bitcoin is entirely eliminated.
The only scenarios I can conjure are two: A catastrophic event that eliminates all electronic devices on the planet simultaneously, and the possibility that the bitcoin protocol and cryptography is "broken" either by exploitation of an unnoticed bug or by the invention of a Quantum Computer that is able to overwhelm the system in every way controlled by attackers.
i can conceive of no others and these seem so unlikely as not be economically worth worrying over, can you think of more?
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The block chain is the main innovation of Bitcoin. It is the
first distributed timestamping system.
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bitkilo
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https://www.bitcoin.com/
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August 08, 2015, 07:59:20 AM |
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Massive world wide exchange hacks, every exchange and online wallet provider.
People loose interest and move on, no transaction = no fees, miners pull out, blockchain stops.
Most crypto investers wiill just move to another coin i think.
Saying this i still don't think bitcoin will die anytime soon.
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novadragon
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August 08, 2015, 08:06:07 AM |
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I think so too, it is because bitcoin has become one of the currencies in the internet  |
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LiteCoinGuy
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In Satoshi I Trust
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August 08, 2015, 08:15:25 AM |
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There seems to exist a subconscious inhibition which whispers to the individual, "Bitcoin might end. Bitcoin might die. Bitcoin might go away. ....
these whispers should end when you reach "Hero Member" status  |
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uknohowwedo
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August 08, 2015, 08:29:21 AM |
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none of us will see a permanent end of bitcoin in our lifetimes. not a chance
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pitham1
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August 08, 2015, 08:34:21 AM |
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There seems to exist a subconscious inhibition which whispers to the individual, "Bitcoin might end. Bitcoin might die. Bitcoin might go away. All of this might be imaginary," but upon close inspection i find that the fear evaporates like a vaporous apparition.
I cannot conceive of a scenario in which bitcoin is entirely eliminated.
The only scenarios I can conjure are two: A catastrophic event that eliminates all electronic devices on the planet simultaneously, and the possibility that the bitcoin protocol and cryptography is "broken" either by exploitation of an unnoticed bug or by the invention of a Quantum Computer that is able to overwhelm the system in every way controlled by attackers.
i can conceive of no others and these seem so unlikely as not be economically worth worrying over, can you think of more?
What about a 51% attack, where the attacker is bent on destroying Bitcoin? He might lose a lot of money, but if that is his intention, what can stop him? |
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BitProdigy (OP)
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We Are The New Wealthy Elite, Gentlemen
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August 08, 2015, 08:46:03 AM |
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What about a 51% attack, where the attacker is bent on destroying Bitcoin?
He might lose a lot of money, but if that is his intention, what can stop him?
The 51% is no longer a threat: https://www.youtube.com/watch?v=ncPyMUfNyVM |
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LiteCoinGuy
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In Satoshi I Trust
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August 08, 2015, 08:59:59 AM |
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yeah but that would be a hell of a ride...
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xhoneyael
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August 08, 2015, 09:52:55 AM |
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We can not all guaranteed the bitcoin will last forever..
but as long as we can use it and you are willing to gamble for profit..
we should stop our doubt about the negative thing that might happen..
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DLCseller
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( -_･)ノ-=≡[$(∞)$]
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August 08, 2015, 09:58:17 AM |
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I think so too, it is because bitcoin has become one of the currencies in the internet Agreed. Remind me to have Satoshi identified. |
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randy8777
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August 08, 2015, 10:18:40 AM |
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We can not all guaranteed the bitcoin will last forever..
but as long as we can use it and you are willing to gamble for profit..
we should stop our doubt about the negative thing that might happen..
everything in life gets replaced with something better. the great thing of bitcoin is its open source nature. bitcoin doesn't need and probably won't get replaced as the devs will do (i hope) everything to improve it to make it future proof. |
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Meuh6879
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August 08, 2015, 11:17:53 AM |
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none of us will see a permanent end of bitcoin in our lifetimes. not a chance
clear because bitcoin have not start with farm miner or exchange ... it have started with 1-3 computer and buy/sell via local contact and email/wire. compare this to emule or bittorrent ... they are alive since 15 years without any maintenance or ad promotion. |
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batesresearch
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August 08, 2015, 11:47:31 AM |
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The only scenarios I can conjure are two: A catastrophic event that eliminates all electronic devices on the planet simultaneously
You mean like a global EMP - Solar winds or Nuclear. This not only renders electronic equipment redundant but the technology based upon it. People like me have built Faraday cages but much more planning needs doing in the event of a global EMP |
Visit Satoshi's Place, a Bitcoin Hub based in Bury, Manchester, UK. Website: https://satoshisplace.co.ukGoals: Educate & Onboard users in to Bitcoin. Lightning network⚡️ |
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e1ghtSpace
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Crypto since 2014
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August 08, 2015, 11:50:29 AM |
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There seems to exist a subconscious inhibition which whispers to the individual, "Bitcoin might end. Bitcoin might die. Bitcoin might go away. ....
these whispers should end when you reach "Hero Member" status Its true! Well, actually when I got to hero member I sort of lost interest in Bitcoin. Hi You have been removed from the [signature] campaign. btw, congratz on becoming hero member. But I think i'm back. A bit. |
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cellard
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August 08, 2015, 12:32:32 PM |
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Massive world wide exchange hacks, every exchange and online wallet provider.
People loose interest and move on, no transaction = no fees, miners pull out, blockchain stops.
Most crypto investers wiill just move to another coin i think.
Saying this i still don't think bitcoin will die anytime soon.
There's no way they can pull it off. Services like Xapo store the wallets offline in actual physical vaults. They would need to go there physically and wreck all of the servers. |
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LiteCoinGuy
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In Satoshi I Trust
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August 08, 2015, 12:37:00 PM |
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none of us will see a permanent end of bitcoin in our lifetimes. not a chance
clear because bitcoin have not start with farm miner or exchange ... it have started with 1-3 computer and buy/sell via local contact and email/wire. compare this to emule or bittorrent ... they are alive since 15 years without any maintenance or ad promotion. i like that comparison, thx. |
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zero01
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August 08, 2015, 12:37:25 PM |
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I agree with you, because bitcoin is now widespread on the internet and became one of the currencies in the internet
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Slark
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August 08, 2015, 12:52:26 PM |
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There seems to exist a subconscious inhibition which whispers to the individual, "Bitcoin might end. Bitcoin might die. Bitcoin might go away. All of this might be imaginary," but upon close inspection i find that the fear evaporates like a vaporous apparition.
I cannot conceive of a scenario in which bitcoin is entirely eliminated.
The only scenarios I can conjure are two: A catastrophic event that eliminates all electronic devices on the planet simultaneously, and the possibility that the bitcoin protocol and cryptography is "broken" either by exploitation of an unnoticed bug or by the invention of a Quantum Computer that is able to overwhelm the system in every way controlled by attackers.
i can conceive of no others and these seem so unlikely as not be economically worth worrying over, can you think of more?
1. In case of catastrophic event - bitcoin disappearance will be the least of your problems, really. 2. Bitcoin cryptography is based on known algorithms, they are proven and known to be so far unbreakable by today's tech. 3. If Quantum Computers will happen then bitcoin network could be upgraded as well as other systems - status quo will be hold. |
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mamafii
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August 08, 2015, 01:33:26 PM |
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i dont know about this. everything can happen and remove from this world..
but, i hope like you bitcoin cannot and never be deleted from everyone who want it..
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harrymmmm
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August 08, 2015, 03:27:53 PM |
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The only scenarios I can conjure are two: A catastrophic event that eliminates all electronic devices on the planet simultaneously
You mean like a global EMP - Solar winds or Nuclear. This not only renders electronic equipment redundant but the technology based upon it. People like me have built Faraday cages but much more planning needs doing in the event of a global EMP Something that took out the whole electronic infrastructure of the planet is about as likely as God existing and taking a dislike to bitcoin and then smiting it out of existence. Don't be so worried. Lol. |
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