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Author Topic: In what situation would Bitcoin die?  (Read 95830 times)
shinratensei_
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February 11, 2017, 01:36:01 AM
 #101

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
Demand - There are no peoples using it
Value - Zero value will make it means nothing
A new innovation - the people migrate into the new innovation.


Legal aspect looks like to press all of the main reason.

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February 11, 2017, 03:38:38 AM
 #102

bitcoin will die if no one buy bitcoin or not interested again with bitcoin, or someday if someone create altcoin which is better than bitcoin and can replace bitcoin position and the sure thing which can make bitcoin die is will all peoples can't access internet it means all peoples can't access bitcoin too but i think its not possible Smiley
If get you quite well. You meant it not possible for people not to access the internet world wide, isn't it? Like I said the only thing which would make bitcoin die are loss of the web or a global electrical power crisis. Therefore, if this can not happen, then bitcoin can not die and what we bitcoiners need to do is make bitcoin great all times.

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February 11, 2017, 04:43:27 AM
 #103

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

It is going to die when the market cap of bitcoin will be $0 already which is very impossible to happen because those investors are not just investors they did put their trust and money to bitcoin so it is going to be a dream only that bitcoin will die. Maybe if there's another interesting coin that will come out or upgrade of bitcoin, the first version of bitcoin will die.
Yes it is impossible for now, I can't imagine what kind of issues will crash bitcoin until no one won't use it anymore.
Legality issue may decrease the value but not affected entirely users so bad, and bitcoin will find the way to rise again.
Different technology/ideas may supersede bitcoin? Maybe, but it can't make bitcoin to the grave. The only problem that will make bitcoin die should because no more internet connection anymore (nuclear war), so no one could access to bitcoin transfer over the world, back to conventional remittance service again.

I can't even think also that bitcoin will have a time to crash. When that crash of no internet connection will happen because of nuclear war or any type of world war, it will just make the bitcoin die for a while but in the end it can recover immediately. Because there are a lot of organizations that can restrain the stability of internet immediately.

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February 11, 2017, 04:49:27 AM
 #104

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
Demand - There are no peoples using it
Value - Zero value will make it means nothing
A new innovation - the people migrate into the new innovation.
Legal aspect looks like to press all of the main reason.

the only thing true is demand, if nobody uses bitcoin, that will be the end. nothing else matters.
for example value if it is zero it will make it mean nothing to you and most people like you who are in it for the money but bitcoin is not just for money making machine. it can be used to transfer value and it can do that even if it is worth 1 cent. exactly like that 10000 pizza story.

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February 11, 2017, 05:01:42 AM
 #105

I think if people decided to stop using bitcoin, they maybe are done wasting their time to focus on its price non stop ups and down. I think the bitcoin will die. It may decrease the demand on bitcoin and the price obviously with small demand will surely had a small price until noone is using it, though it is impossible to happen.



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February 11, 2017, 05:07:22 AM
 #106

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

A hack or 51 percent attack.... that would shake thins up.
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February 11, 2017, 07:24:10 AM
 #107

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
Well form my point of view, I think that the bitcoin will only die if the price goes down really low, If the price starts to decrease and people start panic selling the price will fall really low and that will be the need, people are only using bitcoin as long as it is expensive otherwise it will be worthless.

But the reason for price down fall must be the real factor for such a situation. But I am not finding any possibilities for this to happen.

That's not true. People have been using bitcoin back then even when the price was still low and that's how we got in this price. I doubt that the price of bitcoin would fall really really low because the whales would not let that happen. They would either put an end on their investment or they will battle the price drop by buying even more bitcoins when the price has decreased significantly.

Just look at the past. We were around 1,100-1,200$ and then the price slowly become 200$. Now we're back to 1000$. We wouldn't be here if there were no people that picked up bitcoins when it was still cheap.

Current bitcoin users would sell their coin when the price is starting to go down and then buy using the same money when the price dump is done. But they wouldn't stop using bitcoins.

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February 11, 2017, 07:28:35 AM
 #108

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.

Totally agree with your point . there's some countries in which bitcoins are banned these are China, Bangladesh, and ice land and some other i forgot their names
bitcoin already dead in these countries
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February 11, 2017, 07:43:53 AM
 #109

two scenario a might see here, one is witht he value, connected with regulation of the exchange

we see how easy is for chinese to dump everything and kill 30% of the value in no time, because they fear their government...

another one is if you destroy those big farm in china, which it's surely possible to do
A lot of scenario actually things that can make bitcoin gone forever and die.
Since bitcoin running by internet connection and then once internet disappear that time bitcoin useless.
Even though it seems impossible to be happened but it is worth to be anticipated, isn't it?

cathastrophic scenario like no global internet and no global electricity and maybe no global computer, will not affect only bitcoin, therefore they are not worth taking into account

we were considering only those scenario that would affect bitcoin, even broking sha256(not that i'm saying it's possible...) will kill bitcoin, but it would also kill the bank system so it's not worth considering either...
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February 11, 2017, 07:56:18 AM
 #110

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.

I guess this is the main reason why bitcoin is still living right now and also the reason why bitcoin would die someday. People do love bitcoin since its first start here in the cryptocurrency world, even its price way back then was not that big compare to its price right now, still people adores it and they have welcome it with their warm heart, and specially right now that its price got bigger than before, resulting its population to grow even bigger and stronger.

If the opposite would going to happen on bitcoin, then it is sad to say that it will die, because you can't exist in this world if you don't have any company, or friends, same goes to bitcoin. It can't exist without the investors, users, and buyers that is keeping it alive and surviving in the virtual world.


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February 11, 2017, 08:19:04 AM
 #111

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

It is going to die when the market cap of bitcoin will be $0 already which is very impossible to happen because those investors are not just investors they did put their trust and money to bitcoin so it is going to be a dream only that bitcoin will die. Maybe if there's another interesting coin that will come out or upgrade of bitcoin, the first version of bitcoin will die.
Yes it is impossible for now, I can't imagine what kind of issues will crash bitcoin until no one won't use it anymore.
Legality issue may decrease the value but not affected entirely users so bad, and bitcoin will find the way to rise again.
Different technology/ideas may supersede bitcoin? Maybe, but it can't make bitcoin to the grave. The only problem that will make bitcoin die should because no more internet connection anymore (nuclear war), so no one could access to bitcoin transfer over the world, back to conventional remittance service again.

I can't even think also that bitcoin will have a time to crash. When that crash of no internet connection will happen because of nuclear war or any type of world war, it will just make the bitcoin die for a while but in the end it can recover immediately. Because there are a lot of organizations that can restrain the stability of internet immediately.
i do not think that internet can ever die, and so bitcoin also. because not only bitcoin but there are so many other business even institutions are depending on internet. therefore bitcoin will continue for every and people will be accepting it and will be getting benefit from it. and we can see that the price of bitcoin is continuously increasing because of the increasing demand of bitcoin.



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20kevin20
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February 11, 2017, 08:23:20 AM
 #112

two scenario a might see here, one is witht he value, connected with regulation of the exchange

we see how easy is for chinese to dump everything and kill 30% of the value in no time, because they fear their government...

another one is if you destroy those big farm in china, which it's surely possible to do
A lot of scenario actually things that can make bitcoin gone forever and die.
Since bitcoin running by internet connection and then once internet disappear that time bitcoin useless.
Even though it seems impossible to be happened but it is worth to be anticipated, isn't it?

cathastrophic scenario like no global internet and no global electricity and maybe no global computer, will not affect only bitcoin, therefore they are not worth taking into account

we were considering only those scenario that would affect bitcoin, even broking sha256(not that i'm saying it's possible...) will kill bitcoin, but it would also kill the bank system so it's not worth considering either...

They are worth, because sometimes we are speaking too much truth on the Internet and they hate it. It is called censorship: we would only be able to use it for payments over credit cards and things like news or so. We're building up a huge community that speaks the truth and it's exactly what they do NOT need.
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February 11, 2017, 10:48:12 AM
 #113

It would die by technology disappear or no internet connection. Bitcoin live because of our technology.

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Wei H
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February 11, 2017, 10:55:22 AM
 #114

Just like other encryptcurrenies, in the situation that there's no any miner who work for Bitcoin network, Bitcoin would technically die. But we know that this is could barely happen.

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February 12, 2017, 04:06:49 AM
 #115

bitcoin will die if no one buy bitcoin or not interested again with bitcoin, or someday if someone create altcoin which is better than bitcoin and can replace bitcoin position and the sure thing which can make bitcoin die is will all peoples can't access internet it means all peoples can't access bitcoin too but i think its not possible Smiley
If get you quite well. You meant it not possible for people not to access the internet world wide, isn't it? Like I said the only thing which would make bitcoin die are loss of the web or a global electrical power crisis. Therefore, if this can not happen, then bitcoin can not die and what we bitcoiners need to do is make bitcoin great all times.

It is possible but unlikely, that we could lose the electric grid if the sun sent to us a big amount of radiation and that could nullify the electric grid for years or even decades all around the world, if that happened the disappearance of bitcoin will be the least of our problems.

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February 12, 2017, 06:13:50 AM
 #116

Bitcoin will be die in condition where there are not users bitcoin, developers of bitcoin doesn't make updating, there are not investors, there are not comunity that supports bitcoin and there are not connection of internet. I think that is situation will make bitcoin die although for right now it will not happening.
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February 12, 2017, 07:37:06 AM
 #117

Bitcoin will be die in condition where there are not users bitcoin, developers of bitcoin doesn't make updating, there are not investors, there are not comunity that supports bitcoin and there are not connection of internet. I think that is situation will make bitcoin die although for right now it will not happening.
True,if theres no users of bitcoin then it would definitely die gradually since community adoption is the main reason why bitcoin is now famous and being used and if these thing would be lacking then bitcoin will eventually die but same as you said for now it wont happen.

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February 12, 2017, 09:20:08 AM
 #118

Bitcoin would die if no one will use it or believe to bitcoin anymore. That's the time bitcoin will die, but as I'm seeing right now bitcoin is having a name now and the people are getting familiar with this business now. So if it will happen maybe 10 years or 20 years from now.

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February 12, 2017, 09:26:37 AM
 #119

i think the main power of the bitcoin is that it has a huge number of users..... and the only situation that cause bitcoin to die is that when users wants it to die or when it is unpopular in users..... and i don't think that they ever wants it......

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February 12, 2017, 09:35:56 AM
 #120

It would die by technology disappear or no internet connection. Bitcoin live because of our technology.
Bitcoin would die if internet disappear which is too impossible, however it's one of the factor that could make bitcoin dissapear,  it's depends on demand of the users i think, it's clearly that this factor makes bitcoin's value nothing. Not only that factor but also the government's regulation over mining company could make bitcoin die.
For next 20 years i truly believe that bitcoin would be exist.

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