Bitcoins is indestructible

[groll]

https://medium.com/@alcio/how-to-destroy-bitcoins-255bb6f2142e#.3nrw5maq6

This article has captured my attention it said that there are ways to destroy bitcoin he further mentioned three steps to destroy bitcoins. But for me this all three steps will result to nothing and it will not bury bitcoin into the ground. Volumes of large bitcoin stock has already experienced the three ways he mentioned but it is still alive today. So i will say bitcoin will keep kicking for 260 years.

[1715019720]

1715019720

[Edwardard]

bitcoin can only be destroyed if miners stop mining because miners validate every transaction, but if all the miners stop mining, then our transaction will never get confirmed and lastly btc will get destroyed. other things can fluctuate the price of btc, high or low, but cannot destroy btc. btw, the first step that is written in the article is very funny: "send btc to a random address and burn btc". lol. you made my day.

[TastyChillySauce00]

the method which mentioned in the article above is not literally destroying bitcoin,it's just make the bitcoin have no owners and the bitcoin is still exist,
even though the purpose is almost the same,to make bitcoin lost,but it's still slightly different
the article creator should being honest when writing

[Das]

The guy will simply be wasting his cash. Because he has to first of all buy the bitcoins with his money, then send them to a random address. Even if he buys 20M btc and "burns" them, what will happen is that, the price of 1 satoshi will probably rise to like $1000 or something to make up for all the lost coins.

[mishra1994]

bitcoin can only be destroyed if miners stop mining because miners validate every transaction, but if all the miners stop mining, then our transaction will never get confirmed and lastly btc will get destroyed. other things can fluctuate the price of btc, high or low, but cannot destroy btc. btw, the first step that is written in the article is very funny: "send btc to a random address and burn btc". lol. you made my day.

Yes bitcoin can not be destroyed by any means . Yes they can be worthless but still they will exist.
And yes those steps were quiet funny.Who will send the btc to any random address why would anyone do it.Writer was in a funny mood in think when writing that article.

[jhenfelipe]

Well, it's not on my plan to destroy bitcoin but due to curiosity I read the article. Here's my say: If you have bitcoin, especially when you really make an effort for you to have it, why would you waste it in the first place, right?

Sending bitcoins to a bogus address (an address with no known private key) is an easy way to burn bitcoins.

No owner of bitcoin will do this intentionally in my opinion unless that person is: 1) not serious about bitcoin, 2) not thinking about the hard work/money that he invested into it, 3) Not believing that bitcoin will succeed, 4) thinking that bitcoin is worthless etc.

[Xester]

the method which mentioned in the article above is not literally destroying bitcoin,it's just make the bitcoin have no owners and the bitcoin is still exist,
even though the purpose is almost the same,to make bitcoin lost,but it's still slightly different
the article creator should being honest when writing

Haha that article was funny. Well i selected this post to qoute since it is similar to mine. Destroying bitcoin takes a lot more than just burning btc as the article said. The only way to destroy bitcoins is to deflate its value to zero then bitcoins economy is down. The second is the government will banned the use of bitcoins and users who will be guilty of such charges will be put to death, then no one will use bitcoin and it will be bitcoins death.

[rphk]

Destroying bitcoin means if nobody using the bitcoin  , no mining , no transaction and no confirmation . i don't think destroying bitcoin will   happen because so many people are using bitcoin and doing business with bitcoins all over the world

[Wapinter]

The only way to put bitcoin to death is to destroy all means of bitcoin storage including paper wallet,usb etc.If miners stop bining it will not kill bitcoin it will only make bitcoin idle till the time when mining starts again

[X-ray]

Destroying bitcoin means if nobody using the bitcoin  , no mining , no transaction and no confirmation . i don't think destroying bitcoin will   happen because so many people are using bitcoin and doing business with bitcoins all over the world

actually the article above just mentioning how to destroy some bitcoin,not taught us how to destroy the whole bitcoin and its system
so basically,there's no method so far

[unamis76]

This article looks like kind of a clickbait with a catchy title, saying nothing new... Looks like he only wanted to advertise his website. These are not the ways to really destroy Bitcoins. Bitcoin would only be destroyed if we ceased to use it and miners stopped mining

[Cuidler]

Well, it's not on my plan to destroy bitcoin but due to curiosity I read the article. Here's my say: If you have bitcoin, especially when you really make an effort for you to have it, why would you waste it in the first place, right?
 

Sending bitcoins to a bogus address (an address with no known private key) is an easy way to burn bitcoins.

No owner of bitcoin will do this intentionally in my opinion unless that person is: 1) not serious about bitcoin, 2) not thinking about the hard work/money that he invested into it, 3) Not believing that bitcoin will succeed, 4) thinking that bitcoin is worthless etc.

There are few such known address nobody can have private key for to burn the Bitcoin, and some people really intentionally sending small Bitcoin amounts there just for the lulz. So the Bitcoin amount burned this way is really not substantial, just tens of Bitcoins which is nothing considering to a final supply of 21 million Bitcoins.

Much more Bitcoins are lost when people fail to have backup to their wallet and something go wrong, like HDD failing or forgetting the wallet passphrase. But it is not intentionall way to destroy their Bitcoins.

[ice098]

https://medium.com/@alcio/how-to-destroy-bitcoins-255bb6f2142e#.3nrw5maq6

This article has captured my attention it said that there are ways to destroy bitcoin he further mentioned three steps to destroy bitcoins. But for me this all three steps will result to nothing and it will not bury bitcoin into the ground. Volumes of large bitcoin stock has already experienced the three ways he mentioned but it is still alive today. So i will say bitcoin will keep kicking for 260 years.

This article is useless no one bitcoin user want to waste their money in not sure method, even if there are many dont want bitcoin they cant  do this because they need big funds to do this, big funds to buy all bitcoin. If they cant buy all bitcoin, they cant destruct it. And if they buy 50% of bitcoin and destruct it. The bitcoin price will rise because the demand will rise and the supply will lessen.

[20kevin20]

The only moment Bitcoin could be destroyed is a glibal collapse for just half a second of the energy. Miners are basically the heart of BTC. No mining = no heart = no more Bitcoin.

[CoinBreader]

So if current miners decide to stop mining a crazy guy jumps in (not event a miner) and start mining with a ant miner , maybe a down time till diff drops, and then boom he solo mining the shit out of it !
But now seriously take a moment and think if some multi trilionare start to send it btc to wrong address , then bitcoin price will rise
Or is big players stop mining and network diff drop a lot how many x-miners will turn on their miners ?? all of them in the name of profit and easy money..
So i dont think this will happen in the future..

[densuj]

The article is still a theory (opinions) and there are not riset on there (practice), i think bitcoin can be indestructible if there are not people who use bitcoin, there are not updating, innovation from developer and comunity. And there are not miners.

[Matt Guy]

No system is fully safe. But the BTC network is one of the safest out there.

[Doamader]

Just an attempt to get some traffic into his website, insane bitcoin has a huge structure under it, the miner protect the system and make the confirmation to transactions keep going and coming, in the future something may change around it, otherwise bitcoin may crash.

[coinsocieties]

I would have to say that it is not indestructible however it can be hurt.  The only real way of hurting it is for the local governments to prohibit the use of it or tax it so high it is not worth using.  Just something to think about.

[shinratensei_]

The article is still a theory (opinions) and there are not riset on there (practice), i think bitcoin can be indestructible if there are not people who use bitcoin, there are not updating, innovation from developer and comunity. And there are not miners.

Rises are starting from theory, bitcoin is digital goods and it's easy to indestructible but not for physically. because bitcoin is a fiction. If there are not people who use bitcoin it's will can't indestructible. the main point of bitcoin source is the internet, bitcoin is made caused by the internet. the main weakness of bitcoin is internet.

[Herbert2020]

https://medium.com/@alcio/how-to-destroy-bitcoins-255bb6f2142e#.3nrw5maq6

This article has captured my attention it said that there are ways to destroy bitcoin he further mentioned three steps to destroy bitcoins. But for me this all three steps will result to nothing and it will not bury bitcoin into the ground. Volumes of large bitcoin stock has already experienced the three ways he mentioned but it is still alive today. So i will say bitcoin will keep kicking for 260 years.

this is just another bullshit article that was created to bait clicks with a hot topic, but it really has nothing useful to say. the author fails to explain how these addresses are made and his reasoning for why someone would destroy bitcoin this way is beyond bullshit.

[dinda22]

when the block reward for miners only a few satoshi, then all the miners to stop mining, when there will be no transactions and will never confirmed. so it's a bitcoin destruction. so I also believe bitcoin will continue to live for hundreds of years.

[ranochigo]

This article is meaningless at all and so are most of the replies above.

Sending bitcoins to a bogus address (an address with no known private key) is an easy way to burn bitcoins.

No owner of bitcoin will do this intentionally in my opinion unless that person is: 1) not serious about bitcoin, 2) not thinking about the hard work/money that he invested into it, 3) Not believing that bitcoin will succeed, 4) thinking that bitcoin is worthless etc.

Most would burn Bitcoins as a proof that they sent the Bitcoin to an address which can never be redeemed, mostly seen in alt coins. Some actually feel that this might increase the Bitcoin value since less Bitcoins would be on the market. Whatever the reason is, burning Bitcoin by sending it to an address with no private key is rather stupid since it bloats the UXTO database on nodes.

[Wind_FURY]

The guy will simply be wasting his cash. Because he has to first of all buy the bitcoins with his money, then send them to a random address. Even if he buys 20M btc and "burns" them, what will happen is that, the price of 1 satoshi will probably rise to like $1000 or something to make up for all the lost coins.

That's one stupid way to "destroy" bitcoins. Why not make money out of bitcoins instead of wasting your money destroying it? That would be a much better option.

[CloudStrife]

Certainly there is no system completely safe. However, over the time, bitcoin network has proven to be very stable and safer than many other networks.

[Snorek]

Useful guide for everyone who wish that Saotoshi's coins were destroyed.
The best part was claim that finding a private key and validate BTC address will requires to spend more energy that our solar system will produce during its lifetime.
That is the power of mathematics for you!

[drwtsn32]

The article did not mean to destroy bitcoin but just to stop some of the coins from circulating.
Those are two different things. But if you mean to "destroy" it, it means you are going to break into the encryption which is as of with our current technology is impossible.