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Author Topic: In what situation would Bitcoin die?  (Read 99973 times)
sasaku bitbit
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June 18, 2017, 12:57:25 AM
 #1141

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
Very easy, only need the law prohibits people from using Bitcoin, ban all transactions on the internet, ban all mining Bitcoin ... if that will happen, Bitcoin only have one way is die Grin. But I not hope that is true, because it is the end of the world for me Cry

The law could not prohibit, i think thats ist not possible btc die because legality


I did not get you there, are you saying that the governments will not prohibit it and it is impossible that BTC will die because it is legal?
If that is what you are trying to say, my friend you are wrong, the government are not the ones handling BTC, in fact no one is thus decentralized and there are already countries that have banned BTC because of legalities.

This will not happen if the bitcoin will die in a law because it stated that occur only on the legality of the State only certain countries or because of a decline in the value of bitcoin but now more and more are using bitcoin. If you think bitcoin won't die all the time in fact will be the digital currency for the future in the future because there are already a number of countries that ratified the bitcoin in General

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June 18, 2017, 01:23:40 AM
 #1142

Bitcoin will die, for me it depends on the user and if bitcoin user is more likely bitcoin will progress more for the future and if bitcoin user fewer than the players might be dead, and bitcoin is not caused by forum post announcing that it Is dead because we often get every day

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June 18, 2017, 01:31:20 AM
 #1143

Where if a country is not able to connect via the internet due to a disaster or network disruption that can turn off all activities using the internet so it is difficult to get back to get the internet network then in such situations bitcoin will die and not function as it should.

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June 18, 2017, 01:41:55 AM
 #1144

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
Not even a single price drop may kill and end bitcoins and other big altcoins out on trading markets.I think the most common thing that will kill bitcoins is us and the network.If we stop using bitcoins and if the network have really big issues on bitcoins and on blockchain
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June 18, 2017, 01:48:30 AM
 #1145

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
If an attack in the Bitcoin network occur there might be a possibility that bitcoin may stop functioning. Attacking Bitcoin nodes may intercept bitcoin traffic thus resulting in a delay to block propagation that can cause a significant amount of mining power to be wasted.

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June 18, 2017, 04:27:54 AM
 #1146

One way that bitcoin would die would be if another type of online currency became so successful that it makes people completely ignore bitcoin.

The "death" of bitcoin is probably a scenario more easily achieved than the death of cryptocurrency. Even with current rates of crypto adoption, it's unthinkable that crypto will one day fall out of use. If "death" simply means transition to another form of crypto rather than complete disuse, then this will happen naturally and inevitably as technology progresses and improves.

As long as the whole sphere progresses, then one coin is meaningless. But I doubt btc will be the first to falter, it's too well known at this point.
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June 18, 2017, 04:36:21 AM
 #1147

When the bitcoin users are dying it will just die, but as long as bitcoin is still always sought by its users then it will never happen, and I'm sure bitcoin will never die

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June 18, 2017, 04:58:24 AM
 #1148

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
If there is no demand to buy bitcoins,then bitcoin would eventually die.But,with the ever growing increase in demand for bitcoins,its highly impossible for such a situation to occur.But,in future,may be after twenty years,when quantum computing would be introduced,bitcoin may die.But we could hope that essential preventive measures would be taken to avoid such disaster.

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June 18, 2017, 05:23:31 AM
 #1149

One way that bitcoin would die would be if another type of online currency became so successful that it makes people completely ignore bitcoin.
One of the other cryptocurrencies that have the chance to compete with bitcoin is their ETH has a remarkable development. And ETH prices also skyrocketed. Maybe in the future ETH will be a tough competitor for bitcoin. And competitors can also make bitcoin die


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June 18, 2017, 06:57:49 AM
 #1150

One way that bitcoin would die would be if another type of online currency became so successful that it makes people completely ignore bitcoin.
One of the other cryptocurrencies that have the chance to compete with bitcoin is their ETH has a remarkable development. And ETH prices also skyrocketed. Maybe in the future ETH will be a tough competitor for bitcoin. And competitors can also make bitcoin die


Ethereum is already a tough competitor for bitcoin and a lot of people now are planning and thinking to migrate from ethereum to bitcoin because of the growth of ethereum that is showing some strength and potential in the long term investment just what like happen in bitcoin and i think ethereum will be the next bitcoin based on the market capitalization and also the features of it.

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June 18, 2017, 08:55:01 AM
 #1151

I think bitcoin will not die, for now we see there are still many who trust this crypto currency good for various activities in cyberspace, besides the increasing market demand makes bitcoin persist at its peak, maybe there is only one alasa , Bitcoin can die if the country inhabited blocked internet access which resulted in can not access the internet

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June 18, 2017, 10:25:18 AM
 #1152

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
If an attack in the Bitcoin network occur there might be a possibility that bitcoin may stop functioning. Attacking Bitcoin nodes may intercept bitcoin traffic thus resulting in a delay to block propagation that can cause a significant amount of mining power to be wasted.


Not at all. When there's an attack on the bitcoin network or the 51% attack, it would run just the same but others might become terrified and sell their bitcoins. Hence, making the price of bitcoin go down. Bitcoin is decentralized and taking down nodes of it will be useless since there are tons of other people running a node out there. That's the beauty of bitcoins. Do you really think no one has tried attacking the bitcoin network before? Of course there is but there's none that has made enough damage so far even the PBoC that we thought would take bitcoin down only made a momentary damage.

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June 18, 2017, 10:46:54 AM
 #1153

I think bitcoin will not die, for now we see there are still many who trust this crypto currency good for various activities in cyberspace, besides the increasing market demand makes bitcoin persist at its peak, maybe there is only one alasa , Bitcoin can die if the country inhabited blocked internet access which resulted in can not access the internet
- No, I do not think so, in the end everything will also die, the only problem is the time, in the distant future bitcoin will also die, Bitcoin can not exist forever as your thoughts are, there will definitely be another virtual currency replacing bitcoin. But at the moment, bitcoin certainly will not die because now is the time of its peak, it is in the development stage and is gradually improving itself, Bitcoin will still be the ideal investment destination for all investors for many years to come.

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June 18, 2017, 11:00:45 AM
 #1154

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
Well i guess it would happen if bitcoin become worthless, which is near to zero if you ask me. Also it could happen if people stop using it, but i guess that is also less likely. Bitcoin could also have problems if governments of counties forbid using, or see bitcoin using as an illegal, but i am not sure how that could happen. There are some other things too, but it would be hard for bitcoin to die, even if it happens it will not happen instantly.

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June 18, 2017, 11:12:08 AM
 #1155

I think bitcoin will not die, for now we see there are still many who trust this crypto currency good for various activities in cyberspace, besides the increasing market demand makes bitcoin persist at its peak, maybe there is only one alasa , Bitcoin can die if the country inhabited blocked internet access which resulted in can not access the internet

Banning bitcoin and other cryptos by the government is not enough to make them die. Because as long as we are still here, the market is there and people will still use it, bitcoin will go undeeground first, it isn't going to die Wink And even if ISP's will block connections, I feel as though someone would make a work around, we are dealing with open sourced code here.

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June 18, 2017, 11:12:59 AM
 #1156

I think when the time comes that some people stop using bitcoin and there are only few bitcoiners it will really end up that bitcoin will die, and also when there are also illegal transactions accepting bitcoin, because it will cause a bad record.



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June 18, 2017, 12:15:18 PM
 #1157




[/quote]
Ethereum is already a tough competitor for bitcoin and a lot of people now are planning and thinking to migrate from ethereum to bitcoin because of the growth of ethereum that is showing some strength and potential in the long term investment just what like happen in bitcoin and i think ethereum will be the next bitcoin based on the market capitalization and also the features of it.
[/quote]
Maybe that's why bitcoin had a fall for this week? Is it starting to split market with ETH?

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June 18, 2017, 12:18:36 PM
 #1158

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
Currently since bitcoin is growing, I don't see any reason why bitcoin would die in any perspective. I'm optimistic in what I'm investing thus I don't consider such things that could affect me negatively and something I know that will not happen. If people have an optimistic mind, none of negative will happen.

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June 18, 2017, 01:01:48 PM
 #1159


I think it would only really die if the internet did not exist anymore, that's all.

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June 18, 2017, 01:55:38 PM
 #1160

In my own opinion bitcoin would only die if there's a new promising digital cryptocurrency, failure of the sha-256, if there are no more people who patronize bitcoin, and lastly I thought that it would die if all of the country would never accept bitcoin. But I never lose hope that it would die so easily if their are no big and widespread failure of the system of bitcoin, as I just see in bitcoin it will be the future of a fiat money running online.
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