Bitcoin IS basically DESTROYED

[Gotimour]

For a newbie like me that's just starting, this topic is pretty scary. I feel like starting in the cryptocurrency world now could be a huge waste of time/efforts.

https://99bitcoins.com/obituary-stats/

...latest obituaries:

MARCH 26, 2016
“1,000 Bitcoin Wallets Won’t Replace One Financial Revolution” – Coindesk | $408.12

APRIL 19, 2016
‘Bitcoin is dead,’ says prominent fintech exec – Yahoo | $437.5

MAY 21, 2016
“Bitcoin May Be Failing, But The Technology Behind It Will Live On” – Forbes | $442.88

JUNE 3, 2016
We rather disagree with the estimation of Bitcoin – Adam Smith | $572.65

JUNE 7, 2016
“Bitcoin’s Rallying Again—But Isn’t Getting Much Attention Anymore” – WSJ | $577.14

Who are people having confidence in bitcoin and push up the price? The bitcoin community is very strong.

[Wendigo]

How come the price of Bitcoin is going up like crazy but Bitcoin isn't getting much attention any more? This sounds like a complete oxymoron to me and I think the media is coming up with a plethora of nonsensical articles about Bitcoin without understanding a thing about the crypto currency in the first place. These geniuses from WSJ proclaimed that Bitcoin was going to hit $5000 in 2014 and now they are saying that people's interest in Bitcoin is declining. What a complete joke the modern online press is 

[pandalion98]

Bitcoin already died 106 times according to https://99bitcoins.com/obituary-stats/

Yours is the 107th time bitcoin died.

[dearbesz1219]

how come that Bitcoins is being destroy?
if Bitcoins is already destroy why many bitcoin enthusiast become  more growing,
patronizing and embracing what bitcoins is all about,...its because it has a better future
that he can give to the community,..

[n3o111]

From the beginning, this has always been a possibility: A banker who can effectively create unlimited fiat money can easily acquire all the mining infrastructure and control the network hash power (Of course he don't need to do so through one single entity, it will look like that many people control the mining infrastructure, but when a vote happens people will discover that over 90% of hash power is controlled by a few entity and can go against majority of people's will)

PoW method is vulnerable to large capital taking over. This is the nature of PoW, so some people have suggested to use a PoW+PoS hybrid model for the future mining, but without major hash power, how do you implement this change into the network? Why miners should give up their dominance power today? It seems only a fork or re-design of a new coin can start afresh

[kokojie]

From the beginning, this has always been a possibility: A banker who can effectively create unlimited fiat money can easily acquire all the mining infrastructure and control the network hash power (Of course he don't need to do so through one single entity, it will look like that many people control the mining infrastructure, but when a vote happens people will discover that over 90% of hash power is controlled by a few entity and can go against majority of people's will)

PoW method is vulnerable to large capital taking over. This is the nature of PoW, so some people have suggested to use a PoW+PoS hybrid model for the future mining, but without major hash power, how do you implement this change into the network? Why miners should give up their dominance power today? It seems only a fork or re-design of a new coin can start afresh

It's real easy, but yes there will be a fork. You can't implement a PoS model without a fork. Forks are not scary, there were many Bitcoin forks in the past.

and once again, like I said a thousand times for many years, PoS is the only way Bitcoin can survive. Because PoW is NOT secure and will always end up in centralization. But people will not realize until it's too late, just like right now every block is 100% filled, transactions are taking days to confirm, and still no immediately action taken.

[zodin]

how can you say this. i think it is raising high and high. it is not destroying at all. you will see in future the rate and position of bitiocin

[dearbesz1219]

In all aspects of business the DESTROYER is always there.  But in Bitcoin its given that destroyer is there but it doesn't mean destroyer can destroy bitcoin.

[Bit_Happy]

Bitcoin is destroyed because China owns it?
Does it matter if most miners are in the USA or now China?

How long ago was there mass panic related to China banning Bitcoin use/mining/exchanges?
~2.5 or 3 years ago?
Now "Bitcoin IS basically DESTROYED", since China is successfully participating?
My how times have changed...

[Naughtis]

It is fine for the Block Stream to implement the SegWit. It is a good experiment. If that fails, we can use the Classic.

[MaritiJames3]

In my eyes its not destroyed it has its up and downs but I really do not think the bitcoin has a bad future a head and that its destroyed.
It even has a very good future a head in my eyes with all these events.

[samuel001]

虽然算力大多数集中在中国，但中国人多啊，总体来说还是很分散的

[chaser15]

In my eyes its not destroyed it has its up and downs but I really do not think the bitcoin has a bad future a head and that its destroyed.
It even has a very good future a head in my eyes with all these events.

Bitcoin will only destroyed if internet will be shut down for a long time.

But of course that is 0.00000000000000000001% to happen. As internet will prevail forever for centuries.

[tabas]

虽然算力大多数集中在中国，但中国人多啊，总体来说还是很分散的

Hey man we can't understand what you are saying before joining the discussion just use English language for joining the thread.
And I would say bitcoin is not really destroyed even though the price is going down. It is just a cause of law of supply and demand that applies.
More supply of bitcoins are in the cycle that's why price is going down.

[RoomBot]

虽然算力大多数集中在中国，但中国人多啊，总体来说还是很分散的

Hey man we can't understand what you are saying before joining the discussion just use English language for joining the thread.
And I would say bitcoin is not really destroyed even though the price is going down. It is just a cause of law of supply and demand that applies.
More supply of bitcoins are in the cycle that's why price is going down.

If you really want to know what he/she wrote, it takes 5 seconds on Google translate:

虽然算力大多数集中在中国，但中国人多啊，总体来说还是很分散的

"While most operators concentrated force in China , but the Chinese people , ah , in general, is still very fragmented."

[ausbit]

虽然算力大多数集中在中国，但中国人多啊，总体来说还是很分散的

Hey man we can't understand what you are saying before joining the discussion just use English language for joining the thread.
And I would say bitcoin is not really destroyed even though the price is going down. It is just a cause of law of supply and demand that applies.
More supply of bitcoins are in the cycle that's why price is going down.

Oh Meh what is his/her intention to comment in this section.

Maybe bitcoin will not going to have a breakdown, and it has a good community and has gained a strong reputation. I doubt that it is going to be destroyed or got destroyed.

[RoomBot]

虽然算力大多数集中在中国，但中国人多啊，总体来说还是很分散的

Hey man we can't understand what you are saying before joining the discussion just use English language for joining the thread.
And I would say bitcoin is not really destroyed even though the price is going down. It is just a cause of law of supply and demand that applies.
More supply of bitcoins are in the cycle that's why price is going down.

Oh Meh what is his/her intention to comment in this section.

I'm guessing OP can't afford any BTC

Sour grapes.

[patronis]

Bitcoin is destroyed because China owns it?
Does it matter if most miners are in the USA or now China?

How long ago was there mass panic related to China banning Bitcoin use/mining/exchanges?
~2.5 or 3 years ago?
Now "Bitcoin IS basically DESTROYED", since China is successfully participating?
My how times have changed...

Lol this is so true. The chiinese after all is the whole reason the price started spiking in the first place so if Bitcoin = dead means Bitcoin to the moon kill it already.

[Pr1v4teX]

I don't think so, bitcoin is growing up and if in mining you mean there are some companies outside of china that mining bitcoin.

[betohell]

In my eyes its not destroyed it has its up and downs but I really do not think the bitcoin has a bad future a head and that its destroyed.
It even has a very good future a head in my eyes with all these events.

Bitcoin will only destroyed if internet will be shut down for a long time.

But of course that is 0.00000000000000000001% to happen. As internet will prevail forever for centuries.

I think the age bitcoin will not be equated with the internet. I'm sure the internet will always be alive. because the internet has become a necessity for human beings?
how bitcoin? but I also believe that bitcoin will not be destroyed