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Author Topic: In what situation would Bitcoin die?  (Read 101124 times)
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February 12, 2017, 08:16:14 PM
 #141

if bitcoin demand decrease and no one buy bitcoin or people adopt other coin then i think bitcoin will be die but i am sure bitcoin never die because bitcoin is already get much more power than other currency.


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February 12, 2017, 10:43:44 PM
 #142

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.
People are adapting bitcoin simply because they do not trust the economy and it was evident when there was a global recession and in when people start losing their trust in their respective government people do find alternative source to invest their money and that is what attracting people to bitcoin. It will be interested to see how the price holds up when majority of the government come up with rules and regulation on using bitcoin.



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February 12, 2017, 10:58:52 PM
 #143

one thing's for sure, no demand to use cryptocurrency which is not possible
You are right. In addition If you lose your investment because of the cryptocurrencies price which is going down every time, bitcoin can also die. But this king of situations is not possible as long as the demend is hot. The demend for cryptocurrencies now is bigger than ever. And continue to rising every day.

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February 12, 2017, 11:45:34 PM
 #144

if bitcoin demand decrease and no one buy bitcoin or people adopt other coin then i think bitcoin will be die but i am sure bitcoin never die because bitcoin is already get much more power than other currency.
I think it might just happen. when everyone sell all their bitcoin and no single transaction or request bitcoin. but for several decades it was not going to happen. since the golden age of bitcoin is starting

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February 13, 2017, 01:01:24 AM
 #145

if the users do not satisfy with the benefit of bit coin forum that is  the transaction fee to be high,money exchanging process to be slow etc. then in this situations bit coin may be die.  i expect that the bit coin can not do so in future.

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February 13, 2017, 04:56:09 AM
 #146

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.
Yes and the reason why bitcoin will not die because of bitcoin has large of marketcap
we can check on here https://coinmarketcap.com
many investors made investing into bitcoin and the bagholder will not burn their money
with dumping until bitcoin is priceless.  Cheesy
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February 13, 2017, 04:57:20 AM
 #147

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.
As long as some people run some full nodes then bitcoin will keep on existing but if it came to that point then bitcoin will be basically useless, but the truth unless some catastrophe were to happen then it is very unlikely, bitcoin seems to be so resistant that in order to destroy it seems the whole human civilization needs to disappear.
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February 13, 2017, 05:12:24 AM
 #148

Now in this time, i don't think that it is easy that suddenly bitcoin die, and also i don't wish that bitcoin die. You know everyday  bitcoin price rising up very well and it is a good news for all bitcoin investors. But about the OP, Bitcoin only die when another crypto come to comparative of bitcoin, and when people start to prefer another new crypto, than bitcoin will be damage but also i am thinking, if internet go down than definitely we will not be able to use the bitcoin, Its mean bitcoin die.

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February 13, 2017, 05:21:56 AM
 #149

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

Bitcoin may become too expensive

I understand that this is highly debatable but still. If Bitcoin costs, say, 10k dollars per coin (let's remain realists here, more or less), people may not be very inclined to buy it. After the hike always comes the plunge, but in the latter case, the price going down will not cause enough interest to go up again (as it happens today). So, after attracting max interest at the top, the hype and hysteria will subside, and Bitcoin may start going down the hill

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February 13, 2017, 05:31:46 AM
 #150

if bitcoin demand decrease and no one buy bitcoin or people adopt other coin then i think bitcoin will be die but i am sure bitcoin never die because bitcoin is already get much more power than other currency.
I think it might just happen. when everyone sell all their bitcoin and no single transaction or request bitcoin. but for several decades it was not going to happen. since the golden age of bitcoin is starting

Everyone won't just sell all the bitcoin leading to zero transaction. Very small chances were there for this to happen. In the past people panicked about the capital of bitcoin comparing with dollar and feared it will die soon. Now the capital is growing enormously from the past year. So I believe it won't die soon.

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February 13, 2017, 06:01:25 AM
 #151

Everyone won't just sell all the bitcoin leading to zero transaction. Very small chances were there for this to happen.
Even if we assume it will happen like all the bitcoins will be moved into cold storage and no one will be ready to spend bitcoin and only mining reward bitcoins are generated on every block. This definitely will not mean a situation of dying.

Because people still have faith on bitcoin that is the reason they are saving it. When people lose their faith then anything unexpected may happen. That is the only situation which is the answer for this topic.

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February 13, 2017, 06:14:38 AM
 #152

if bitcoin demand decrease and no one buy bitcoin or people adopt other coin then i think bitcoin will be die but i am sure bitcoin never die because bitcoin is already get much more power than other currency.
I think it might just happen. when everyone sell all their bitcoin and no single transaction or request bitcoin. but for several decades it was not going to happen. since the golden age of bitcoin is starting

Everyone won't just sell all the bitcoin leading to zero transaction. Very small chances were there for this to happen. In the past people panicked about the capital of bitcoin comparing with dollar and feared it will die soon. Now the capital is growing enormously from the past year. So I believe it won't die soon.
of course I think that it's very unlikely to happen. and the current bitcoin turnover volume in the market continues to grow. This course will extend the life cycle of bitcoin. as I say, the age of bitcoin will be very long time

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February 13, 2017, 06:18:54 AM
 #153

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.

Bitcoin no doubt has gone more popular than ever before.  The only thing which can be an obstacle in future and need to taken care of is the time it takes for a transaction to be confirmed. I think the confirmation times issue needs to be solved urgently as it is increasing day by day and we face more delay on this.

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February 13, 2017, 06:20:32 AM
 #154

A situation of chaos and economic recession could cause the world economy and bitcoin die. We all know that if the world economy is currently very dependent from china, so whatever happens with china influenced bitcoin.
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February 13, 2017, 06:26:21 AM
 #155

A situation of chaos and economic recession could cause the world economy and bitcoin die. We all know that if the world economy is currently very dependent from china, so whatever happens with china influenced bitcoin.
I think it would be the opposite. If the global markets started to crash, mainly the banking sector, bitcoin would go down with them, but then people would start seeking something that doesn't depend on banks. Something out of the system. They would turn to things that survive price wars, unemployment, wars, like gold, jewelry, art, and bitcoin.

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February 13, 2017, 06:33:32 AM
 #156

A situation of chaos and economic recession could cause the world economy and bitcoin die. We all know that if the world economy is currently very dependent from china, so whatever happens with china influenced bitcoin.
I think the future, as users continue to grow from around the world, not just in China and this makes a variation of bitcoin users, then the influence of china will not be too big for bitcoin

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February 13, 2017, 06:56:13 AM
 #157

I guessed the most possible way Bitcoin will dies is when the government makes a full shutdown of it.  If the government tries to disable all the Bitcoin wallets it will make all Bitcoin useless, which is a strong possibility because the government has the power to control what you can do with the internet. With this broad decision it will instantly make Bitcoin valueless.

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February 13, 2017, 07:25:39 AM
 #158

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

Bitcoin may become too expensive

I understand that this is highly debatable but still. If Bitcoin costs, say, 10k dollars per coin (let's remain realists here, more or less), people may not be very inclined to buy it. After the hike always comes the plunge, but in the latter case, the price going down will not cause enough interest to go up again (as it happens today). So, after attracting max interest at the top, the hype and hysteria will subside, and Bitcoin may start going down the hill

i can't see how this is making sense, let's say a random stranger is buying today 1 btc at $1000 because he can afford that amount

now with bitcoin at $10k he would simply buy 1/10, which is 0.1 and spending the same amount, bitcoin is divisible for a reason...

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February 13, 2017, 11:43:50 AM
 #159

I guessed the most possible way Bitcoin will dies is when the government makes a full shutdown of it.  If the government tries to disable all the Bitcoin wallets it will make all Bitcoin useless, which is a strong possibility because the government has the power to control what you can do with the internet. With this broad decision it will instantly make Bitcoin valueless.

Dude what? So how come they haven't shut down websites that post all of the issues about the government. I strongly disagree that the government has "the power to control" of what you can do with the Internet because if they actually do, it would be so ironic because government websites always get hacked just so hackers would have something to laugh at.

If the government tries to disable all the bitcoin wallets, they would not succeed because they simply can't. They can't shut down anything at all except for simple websites than can be put down by simple DDoS attack of an average hacker. I don't know about other countries but my government's cyber army is so weak that it hurts. They can't trace anything online let alone take down the bitcoin network.

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abel1337
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February 13, 2017, 11:54:56 AM
 #160

I guessed the most possible way Bitcoin will dies is when the government makes a full shutdown of it.  If the government tries to disable all the Bitcoin wallets it will make all Bitcoin useless, which is a strong possibility because the government has the power to control what you can do with the internet. With this broad decision it will instantly make Bitcoin valueless.

Dude what? So how come they haven't shut down websites that post all of the issues about the government. I strongly disagree that the government has "the power to control" of what you can do with the Internet because if they actually do, it would be so ironic because government websites always get hacked just so hackers would have something to laugh at.

If the government tries to disable all the bitcoin wallets, they would not succeed because they simply can't. They can't shut down anything at all except for simple websites than can be put down by simple DDoS attack of an average hacker. I don't know about other countries but my government's cyber army is so weak that it hurts. They can't trace anything online let alone take down the bitcoin network.
I agree that the government cant disable the bitcoin wallets. It would be very hard for them to disable bitcoin wallets. But government has the power to ban bitcoin in every country and banning of bitcoin can make us not to withdraw bitcoin into real money. I think it is the way bitcoin will die.

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