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Author Topic: In what situation would Bitcoin die?  (Read 101127 times)
mornabo
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February 12, 2017, 09:47:35 AM
 #121

It would die by technology disappear or no internet connection. Bitcoin live because of our technology.
yeah it could be one reason bitcoin will die. but I think the technology will never die. let alone the Internet, the Internet will never die. because in the future the Internet will become a major requirement

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February 12, 2017, 11:13:06 AM
 #122

is no problem, because before bitcoin die another altcoin can replace position bitcoin to the best crypto curency
crypto coin community is big , so not want crypto coin die, if bitcoin die another cypto coin certainly will replace position bitcoin, this now ethereum pair fiat money support in many exchanger

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February 12, 2017, 12:09:56 PM
 #123

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
this can not happen, and it is not allowed to happen. Bitcoin is an important role in the world, if it loses, the world will be severely affected, and the economy devastated. Bitcoin always be upgrading technology, so it will always grow, it is like gold, bright and beautiful forever, never oxidized. Bitcoin to undergo the events to be able to demonstrate it's enduring value. I always believed in the future of Bitcoin. Someday it will be accepted as the world's single currency

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February 12, 2017, 12:15:03 PM
 #124

Bitcoin will die if it encounters certain condition that will clearly lead to its doom.  To me one thing that can kill bitcoin is when it values as a currency is undermined. If it value is undermined? It demands will reduce and if it demands is reduced then expect miners, trader, and blockchain owners to abandon it. But for now I don't see that happening, we expect bitcoin price to be stable in near future so people can trust it.
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February 12, 2017, 02:05:05 PM
 #125

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.
Yes,bitcoin will be the least of our problem cause the global capital market,forex,gold etc will all be affect. My suggestion is that we the users of bitcoin ought to have something stock concerning any government, organisation or group trying to bring bitcoin or price down.

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margarete11
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February 12, 2017, 02:15:47 PM
 #126

is no problem, because before bitcoin die another altcoin can replace position bitcoin to the best crypto curency
crypto coin community is big , so not want crypto coin die, if bitcoin die another cypto coin certainly will replace position bitcoin, this now ethereum pair fiat money support in many exchanger
That is very true my friend I believe in the saying that if one is gone somebody or something will replace what is gone . Cryptocurrency currency is very vast and there is so much coin that is rising which is better in bitcoin ! Bitcoin will be very hard to defeat but in case that happen it will be repl
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February 12, 2017, 02:29:27 PM
 #127

There are many reason why cryptocurrencies could die:

1) Too many governments could make them illegal
2) There could be some flaw in the technology that has not been discovered yet
3) One person or group of people could control more that 50% of the coin
4) Fees get too high and/or mining is not profitable
5) A newer technology could come along to make it obsolete
6) Many altcoins will die because of competition with other altcoins (they can't all survive)
7) They may not gain widespread acceptance (for various reasons) and investors could just stop using cryptocurrencies

Theses are just a few reasons and I'm sure there are others

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February 12, 2017, 03:13:53 PM
 #128

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
this can not happen, and it is not allowed to happen. Bitcoin is an important role in the world, if it loses, the world will be severely affected, and the economy devastated. Bitcoin always be upgrading technology, so it will always grow, it is like gold, bright and beautiful forever, never oxidized. Bitcoin to undergo the events to be able to demonstrate it's enduring value. I always believed in the future of Bitcoin. Someday it will be accepted as the world's single currency

As of now, Bitcoin does not have an impact to certain countries.  Eventhough many people around the world are into Bitcoin but they does not represent the majority.  No country today have declared that they have profited on Bitcoin transactions or Bitcoin project, so this mean that even if Bitcoin disappear, the technology remain and country will take advantage of the technology.

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February 12, 2017, 03:16:04 PM
 #129

Bitcoin would die if there is no support meaning that there will be no miners, the transactions could be stucked and there could be no transaction between addresses.

Another thing that would worth mentioning is that people would leave using bitcoin which could affect the bitcoin price falling down and maybe dying which I'm very skeptic.

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February 12, 2017, 03:22:21 PM
 #130

The situations in which it was considered that bitcoin will die now no more exist because in the past the user of bitcoin were very lower and all of them were the traders and they were in the wait that the rice of it will increase and to sold all of them so with panic sell the price often decrease while now people are not only traders but also use bitcoin for their businesses.

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cellard
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February 12, 2017, 03:34:40 PM
 #131

There are many reason why cryptocurrencies could die:

1) Too many governments could make them illegal
2) There could be some flaw in the technology that has not been discovered yet
3) One person or group of people could control more that 50% of the coin
4) Fees get too high and/or mining is not profitable
5) A newer technology could come along to make it obsolete
6) Many altcoins will die because of competition with other altcoins (they can't all survive)
7) They may not gain widespread acceptance (for various reasons) and investors could just stop using cryptocurrencies

Theses are just a few reasons and I'm sure there are others


I don't agree with some.

1) It would only crush the price temporarily, but ultimately all governments banning bitcoin would do is drive the markets underground/OTC, it would recover, the network wouldn't die
2) The technology as it is today has no flaws, only new code that isn't properly revised could introduce flaws, but Core devs make a good job in testing everything
3) 50% attacks already disproven as non realistic
4) Mining is a self adjusting game. Someone would always profit from mining.
5) This could happen... but its not very realistic. I hope it happens tho, so I can buy at the beginning and be rich quick.
6) This is not a problem for bitcoin
7) Widespread acceptance is not really needed for moon. Gold is not widespread and its worth trillions.

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Zadicar
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February 12, 2017, 03:38:00 PM
 #132

Bitcoin would die if there is no support meaning that there will be no miners, the transactions could be stucked and there could be no transaction between addresses.

Another thing that would worth mentioning is that people would leave using bitcoin which could affect the bitcoin price falling down and maybe dying which I'm very skeptic.
If theres people who wont gonna use then bitcoin will eventually die no matter what but if people will able to adopt it and use it then transaction do happen which makes the system active as long there is internet as long theres a connection among users bitcoin is still alive.

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Nahl
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February 12, 2017, 03:40:47 PM
 #133

in my point of view there are several caused why bitcoin would die

- 3rd war happening
- all countries in the world has decide to banned bitcoin and will be given the death penalty for those who use bitcoin
- internet connections dissapear
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February 12, 2017, 03:47:55 PM
 #134

Bitcoin would die if there is no support meaning that there will be no miners, the transactions could be stucked and there could be no transaction between addresses.

Another thing that would worth mentioning is that people would leave using bitcoin which could affect the bitcoin price falling down and maybe dying which I'm very skeptic.
If theres people who wont gonna use then bitcoin will eventually die no matter what but if people will able to adopt it and use it then transaction do happen which makes the system active as long there is internet as long theres a connection among users bitcoin is still alive.

What I said is one of the reason that could affect the bitcoin dying. But there are also lots of other reasons that could lead bitcoin to be worthless.

There should be something strong that could make the internet be destroyed so the people can't make transaction.

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[|]
CryptoVzla
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February 12, 2017, 05:29:10 PM
 #135

There are many reason why cryptocurrencies could die:

1) Too many governments could make them illegal
2) There could be some flaw in the technology that has not been discovered yet
3) One person or group of people could control more that 50% of the coin
4) Fees get too high and/or mining is not profitable
5) A newer technology could come along to make it obsolete
6) Many altcoins will die because of competition with other altcoins (they can't all survive)
7) They may not gain widespread acceptance (for various reasons) and investors could just stop using cryptocurrencies

Theses are just a few reasons and I'm sure there are others


The mining issue it's already happening, to be profitable you have to buy bulks of miners and spend a large amount of money. Otherwise, it's not profitable even with free electricity, unless you play yourself and expect some price moon.
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February 12, 2017, 05:50:49 PM
 #136

I think bitcoin could die simply if no one accetp it as a method to purchase, services/items ect... Or if the value fail to near zero. And if gov could put a drastic limitations or ban cryptocurrencies. Still, if it's happen, it would need a very long time, if not years, before bitcoin fade up to become useless. I don't think any of this can happen, the value can fail dramaticaly near to zero but i don't think it can die. Even if it die some people will still keep some BTC as a collection currency, who know if 20 years laters it fibally has a value again like some old money

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February 12, 2017, 06:56:13 PM
 #137

If our own government in each country would interfere about bitcoin and make a move to prohibit using it then that will stop bitcoin from growing and obviously those miners will be more affected as they hardly invested on the system making them bankrupt. If only people realize that bitcoin can help the economy then the life of bitcoin will increase.

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February 12, 2017, 07:02:16 PM
 #138

If our own government in each country would interfere about bitcoin and make a move to prohibit using it then that will stop bitcoin from growing and obviously those miners will be more affected as they hardly invested on the system making them bankrupt. If only people realize that bitcoin can help the economy then the life of bitcoin will increase.

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Colt22
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February 12, 2017, 08:01:31 PM
 #139

Now the adoption of bitcoin and the demand of bitcoin has been increased much higher and the businesses related to bitcoin are also increasing day by day so the strength of it is also increasing and with that situation it is impossible for the bitcoin to die while in the absence of that all there was a chance of its collapse which is now not existed.

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Yakamoto
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February 12, 2017, 08:10:23 PM
 #140

Bitcoin has the potential to die only if the community dies along with it, and technically the community would die before it.

Something like this could occur via a system of direct attacks against users and their property, or something along those lines. Massive attacks against exchanges would only do so much, and most of the community would be displeased but probably remain.

Not realistically feasible.

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