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Author Topic: In what situation would Bitcoin die?  (Read 94918 times)
geschtonkenflapped
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February 09, 2017, 04:14:05 PM
 #1

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
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February 09, 2017, 04:20:54 PM
 #2

one thing's for sure, no demand to use cryptocurrency which is not possible
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February 09, 2017, 04:22:33 PM
 #3

Well, we know that bitcoin dying is not caused by forum posts announcing that it is dead, because we get those on a daily basis. Cheesy

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February 09, 2017, 04:24:03 PM
 #4

If there were a loss of net neutrality I would divest at least 50%. It might even kill the project.

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February 09, 2017, 04:47:09 PM
 #5

If everyone stops using it or if in some way becomes wothless, these are the two situations I think of that could make bitcoin die. But I don't know what could cause something like this, people get used to bitcoin and all benefits that it gives and demand is geting biger all the time.

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February 09, 2017, 04:49:44 PM
 #6

I think Bitcoin will dead if every country decides to ban Bitcoin permanently. Then, there will be no more people using Bitcoin because they might be arrested in this condition. And bitcoin can also be dead if there are a new cryptocurrency which is more profitable, more advance and can fix most of the bug of bitcoin. In the future, there will be more cryptos qualifying these facors.

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February 09, 2017, 04:50:55 PM
 #7

There were already some cryptocurrencies (very small altcoins) that "died" - that means, the blockchain doesn't grow anymore because there are no users (=users with running full nodes). Example: TGCoin.

That would be the most probable scenario for a "dead Bitcoin", too. No demand, no users, no transactions. The "why" question would not be that relevant - it could be a better cryptocurrency or - a bit sci-fi - less need to use money for everyday life, or a much better technology than cryptos (e.g. a kind of artificial intelligence which manages our needs). It would not be dramatic, just boring - "the last Bitcoiner" will power off the light, most probably without anyone noticing it.

Another scenario would be a severe software bug. That could be much more dramatic, because it's very probable that there would be still people trying to use it. Although in this case if the bug can be solved, the blockchain can be started again, although there would be, for sure, a big price crash. This also already occured in some altcoins (e.g. Slimcoin).

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February 09, 2017, 04:51:28 PM
 #8

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?

Another crypto overtaking its market cap
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February 09, 2017, 04:54:07 PM
 #9

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
Sme cases that came into my mind:
* something (quantum technology, mathematics) that make the cryptography behind Bitcoin obsolete/hackable
* humanity finding out that deflationary coins are bad (I doubt that)
* people deciding that Bitcoin is not anonymous enough for they use/need (this is not for all cryptos though)

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February 09, 2017, 04:55:47 PM
 #10

Well, maybe when the situation began to lose confidence in the bitcoin users. people tend to leave bitcoin, because bitcoin is no longer provide benefits to users. but, I think it will not happen, because bitcoin will always provide many benefits to the users if we use it properly.

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vertex output parameter not completely initialized


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February 09, 2017, 04:56:25 PM
 #11

Gold Finger Attack
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February 09, 2017, 04:56:57 PM
 #12

There are lots of things that could able to make bitcoin die. 1st. No one will use any cryptocurrency 2nd. There would be a new crypto that would replace bitcoin 3rd. No internet 4th. All government would ban it globally. and there are lots to mention but still we know that bitcoin wont die easily.

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February 09, 2017, 05:02:22 PM
 #13

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?

Support from the community, if the community will stop using bitcoin at all then no sense now of it's existence. Bitcoin exchanges will now have a ghost volumes since no active traders at all, merchants that accepts bitcoin will remove bitcoin as one of their payment method, Bitcointalk forum will become a ghost forum and many more.

Good thing no such thing like that will happen to bitcoin so long live. Others alts already suffered that less support from the community resulting to a dying coin/s.

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February 09, 2017, 06:01:39 PM
 #14

The value of a currency depends on the number of users of that currency and their market circulation. If there are low number of users of bitcoins in the market so the value will decline and it will crash, but this is not going to happen so easily because bitcoin is the most famous and leading cryptocurrency till now. Smiley

   
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February 09, 2017, 06:06:43 PM
 #15

When the trust will fall. Which is never becuase is is anonymous. Thats my guess
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February 09, 2017, 06:13:26 PM
 #16

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
All this things like value, price, legal issues etc are secondary factors to affect bitcoin, primary factor is number of active nodes.

The only case that can lead to death of bitcoin could be all data from computer that are running bitcoin nodes get completely formatted. Which is practically impossible, so it is practically impossible for bitcoin network to get shut down completely or die.

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February 09, 2017, 06:23:39 PM
 #17

Bitcoin will die if blockchain will stop to work,if miners will stop to work will be no confimation,what will be whan last block of 21 mln limit will be mined,like i knowthere is no solution in that case,but there is still time uhtill last block will be mined


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February 09, 2017, 06:26:57 PM
 #18

If the users stop believing in Bitcoin, then the price will drop and merchants and services will stop accepting it. This might be, because some

developers were dragging their feet with scaling and users start using other Alt coins or even worst private Blockchain based technologies. We will

soon see if this will happen or not.  Roll Eyes

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blackhawkeye1912
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February 09, 2017, 07:22:19 PM
 #19

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?

Bitcoin would end up only, if all users will be gone away or disappear in this industry, and that will happen only if the features of bitcoin will no longer be implement and not function properly which might cause of the community be get disappointed unto it. which will lead the value goes down into zero.



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helloeverybody
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February 09, 2017, 07:31:58 PM
 #20

If people lose faith in the security of the network for one reason or another then bitcoin could die. no matter how many times i look at the numbers i always have this idea in my head that an address could finally be cracked with a super computer ie one of satoshis old addresses, this would obviously be catastrophic . Maybe after years of not achieving mass adoption price will slowly taper off and die, to me this is the most likely case.

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