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Author Topic: In what situation would Bitcoin die?  (Read 99568 times)
squatz1
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June 25, 2017, 07:04:02 PM
 #1201

Only time I could fully see Bitcoin dying (with a large fight from the whales, early adopters, members of this community, people with a monetary interest in bitcoin succeeding and thriving) is through massive worldwide government intervention to regulate and tax Bitcoin into oblivion. Think about it, the only people that would probably stick around with Bitcoin throughout this sort of think would probably be the early adopters and they'd be keeping it on the down low. Most normal people (I use the term normal to refer to everyday people) would simply just go back to their normal ways of life without Bitcoin.

Maybe an internet shutdown / failure as well? That'd kinda heed Bitcoin useless.

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June 25, 2017, 07:53:41 PM
 #1202

I am finding it difficult to believe that bitcoin will die one day. Bitcoin will only die when there is no internet and it is impossible to imagine that a time will ever come where there will not be internet globally. Just the way it is impossible for one to say US Dollar will die in one situation or let say GBP will die one day. This is because bitcoin has become a global currency already.

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June 25, 2017, 09:27:37 PM
 #1203

I am finding it difficult to believe that bitcoin will die one day. Bitcoin will only die when there is no internet and it is impossible to imagine that a time will ever come where there will not be internet globally. Just the way it is impossible for one to say US Dollar will die in one situation or let say GBP will die one day. This is because bitcoin has become a global currency already.
yeah u say all
It seems to me that such a situation is better not even think. Do not imagine, because half of users can have a heart attack. The fact is that Bitcoin can not be shaken and something will happen to him. At least on his very long time expressed at home Bitcoin, goulash is a soap bubble, which very soon can burst.

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June 25, 2017, 09:39:54 PM
 #1204

Bitcoin will die if If there were a loss of net neutrality and if they do a new currence better than bitoin .

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June 25, 2017, 09:41:55 PM
 #1205

I am finding it difficult to believe that bitcoin will die one day. Bitcoin will only die when there is no internet and it is impossible to imagine that a time will ever come where there will not be internet globally. Just the way it is impossible for one to say US Dollar will die in one situation or let say GBP will die one day. This is because bitcoin has become a global currency already.
Bitcoin will never be die.it will stay the same. Maybe we encounter some problems regardig bitcoins we may seems to have a problem in any of our transactions but still bitcoin is reliable it will never ne die as long as we people are using it and spending it. It may be decrease its price someday but it will never be gone.

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June 25, 2017, 11:48:26 PM
 #1206

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
I don't think bitcoin will die, because I'm not thinking of it to be happen. particularly now bitcoin is getting more higher.
Now bitcoin is developing very well. But that does not mean bitcoin will never die? The chance of dead bitcoin will continue to exist. But not for now. So far there is no threat that can make bitcoin weakened. I hope bitcoin has a long life.

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June 25, 2017, 11:59:13 PM
 #1207

I can only see it happening of the internet died. In which case that would be a world wide event and a huge problem for everyone every where.
I am finding it difficult to believe that bitcoin will die one day. Bitcoin will only die when there is no internet and it is impossible to imagine that a time will ever come where there will not be internet globally. Just the way it is impossible for one to say US Dollar will die in one situation or let say GBP will die one day. This is because bitcoin has become a global currency already.
Bitcoin will never be die.it will stay the same. Maybe we encounter some problems regardig bitcoins we may seems to have a problem in any of our transactions but still bitcoin is reliable it will never ne die as long as we people are using it and spending it. It may be decrease its price someday but it will never be gone.

Yes you must have faith. It won't die it's here to stay. We all have bitcoins and there is no turning back now.

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kpcian
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June 26, 2017, 06:47:12 AM
 #1208

It's simple...
When Bitcoin will lose its credibility then Bitcoin will lose its demand in the market. If you have no demand in your market then your existence will face a threat. I think that is only one condition when Bitcoin can be dead, otherwise Bitcoin will sustain a long period of time...

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June 26, 2017, 06:57:56 PM
 #1209

Bitcoin will die if If there were a loss of net neutrality and if they do a new currence better than bitoin .

What the hell has net neutrality to do with bitcoin.
They could try and throttle down the speed on all the ports to 10kbs per second and it will not stop the bitcoin protocol.
And whatever the us does it does not mean the entire world is going to copy their stupidity.

I am finding it difficult to believe that bitcoin will die one day. Bitcoin will only die when there is no internet and it is impossible to imagine that a time will ever come where there will not be internet globally. Just the way it is impossible for one to say US Dollar will die in one situation or let say GBP will die one day. This is because bitcoin has become a global currency already.

Everything will die one day.
Maybe I won't see the $ fail but the way things are happening in the UK I might enjoy seeing the pound hammered into oblivion.




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June 26, 2017, 09:11:48 PM
 #1210

Bitcoin will never die, especially if the current view, bitcoin prices higher, because the need for it is increasing. Well, the only thing that could make a dead bitcoin is when the internet connection disappears. Cheesy
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June 26, 2017, 09:39:43 PM
 #1211

Bitcoin will never die, especially if the current view, bitcoin prices higher, because the need for it is increasing. Well, the only thing that could make a dead bitcoin is when the internet connection disappears. Cheesy
In fact, this is so, and especially if no one interferes in the activities of Bitcoin users and the most crypto currency. But if our government wants to implement Bitcoin and retain control over the crypto currency, then we will lose a lot. And not only anonymity, if this happens, then it seems to me that many users will start leaving Bitcoin And that they can lead to the death of Bitcoin.

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June 26, 2017, 09:48:51 PM
 #1212

Bitcoin will never die, especially if the current view, bitcoin prices higher, because the need for it is increasing. Well, the only thing that could make a dead bitcoin is when the internet connection disappears. Cheesy

I also don't believe bitcoin would die in a real manner. Bans, restrictions and rumors about hard fork might make it powerless, yet this does not mean it died.
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June 26, 2017, 09:55:20 PM
 #1213

Bitcoin will never die, especially if the current view, bitcoin prices higher, because the need for it is increasing. Well, the only thing that could make a dead bitcoin is when the internet connection disappears. Cheesy

It's been proved for a lot of time and look today the price went down but it's increasing again. This is the good thing in bitcoin, when the price is becoming low, many traders are keep on buying at dip and volumes of bitcoins are being bought by those other hoarders. And that is making the market of bitcoin healthy.

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June 26, 2017, 10:24:51 PM
 #1214

The possibility Bitcoin will die is low. but in the future if ever the value might decrease and people stop using it but it will be hard to forget about bitcoin it will take time for bitcoin to die especially if no one wants that to happen.
Yes it is, there will be less posibility that bitcoin will die especially because it has been there for many years and manh investors has been into it and they already invested in bitcoins. And soon bitcoin will br legalizes in all over the world. And they will also accept it as payment.

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June 26, 2017, 10:37:57 PM
 #1215

Bitcoin will never die, especially if the current view, bitcoin prices higher, because the need for it is increasing. Well, the only thing that could make a dead bitcoin is when the internet connection disappears. Cheesy
When initernet is off we certainly can not use bitcoin to make transactions, so everything will feel dead. So the most important component in bitcoin is internet, as long as there is internet then we can do transaction. Whatever bitcoin price rates it will not be a problem.

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June 26, 2017, 10:42:44 PM
 #1216

Bitcoin will never die, especially if the current view, bitcoin prices higher, because the need for it is increasing. Well, the only thing that could make a dead bitcoin is when the internet connection disappears. Cheesy
Yes you are right bitcoin will never die its price is increasing and and I hope bitcoin currency will live forever . And more internet connection is not a great reason to make bitcoin die because nowadays in modern age all countries will goes to development and everywhere internet connection is available.

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June 30, 2017, 12:05:46 AM
 #1217

not only bitcoin would die if then there's no internet access , but also a lot of banks that operated with internet, a lot of public facilities that rely on internet as yeah nowadays the Internet of Things has begun . so for me it's more to universal disaster rather than bitcoin only who would die. the possibility this scenario happened also are so small let's skip that talk.
I agree, talk about post apocalyptic situation. Well for now internet is really a necessity, but if you think of it this way, the internet would really die, then we have to find alternate solutions for that.

In the post apocalyptic world we will eventually learn to adapt on what we have, that's human nature I guess. Therefore, we can live without internet.

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June 30, 2017, 02:32:22 AM
 #1218

Bitcoin can die when it reach limited supply. There is no more profit for miners and even if they increased Fee, a lot of users will decrease. Bitcoin is just for currency and if no one use, it is fail.
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June 30, 2017, 03:42:25 AM
 #1219

Bitcoin can die when it reach limited supply. There is no more profit for miners and even if they increased Fee, a lot of users will decrease. Bitcoin is just for currency and if no one use, it is fail.
That is not true because miners can still make money from confirming the transactions that has been issued in the network and if the supply is reached or maxed out then it is still easy for bitcoin and it will not die because the supply will still there in the market and the profit making for both bitcoin miners and users are still there. I think bitcoin will die if the internet will be shutdown.

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June 30, 2017, 08:11:59 AM
 #1220

Bitcoin can die when it reach limited supply. There is no more profit for miners and even if they increased Fee, a lot of users will decrease. Bitcoin is just for currency and if no one use, it is fail.

We all know that miners are here because of the block reward. Without the block rewards, there would still be a lot of people mining bitcoins. Probably the previous miners themselves. Why? Because they have bitcoins. They have to continue supporting the network because otherwise their bitcoins will go to waste. It would be like mining is just a way to keep their investments alive.

The miners cant increase the fee. We are the ones increasing the fee. As more and more people are battling to get a higher priority in the blockchain, the more the transaction fee is increasing. But the miners don't just say "Okay, I want .01BTC for tx fee instead of .001BTC" and then the transaction fee is already high. They don't dictate that.

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