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Author Topic: In what situation would Bitcoin die?  (Read 101124 times)
RomanPetrush
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August 21, 2017, 01:16:42 PM
 #1421

I think, there is no way to get Bitcoin die, it could happen only if the internet will be lost. But big structures as our government, find the blockchain useful. So Bitcoin will change.. but not die.

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Even in the event that an attacker gains more than 50% of the network's computational power, only transactions sent by the attacker could be reversed or double-spent. The network would not be destroyed.
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August 21, 2017, 01:19:12 PM
 #1422

I think bitcoin will die can be caused by the price is very down and the possibility of other altcoin that will replace it, and could also when the government decided to ban bitcoin trade worldwide

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August 21, 2017, 01:23:24 PM
 #1423

i think when there is more advanced technology than bitcoin so bitcoin started a left, so bitcoin still exist but very little user use bitcoin

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August 21, 2017, 01:24:33 PM
 #1424

I have heard that if many governments ban it, it will be much harder for it to grow and go mainstream.
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August 21, 2017, 01:32:05 PM
 #1425

I think bitcoin will die can be caused by the price is very down and the possibility of other altcoin that will replace it, and could also when the government decided to ban bitcoin trade worldwide

You have not gave any solid reason, Why Bitcoin will die? only rumors.

I think, there is no way to get Bitcoin die, it could happen only if the internet will be lost. But big structures as our government, find the blockchain useful. So Bitcoin will change.. but not die.

And how is this possible internet is never going to die.

Bitcoin only die if the users start using some altcoin and stops the use of Bitcoin which can may happen. There are peoples who are always working behind Bitcoins price and all the things and they will never let Bitcoins die so easily. Also, All the users here uses Bitcoins and the users are going so, it is stupid to think that it is gonna die.

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August 21, 2017, 01:39:16 PM
 #1426

I dont know if what year bitcoin will die but i ithink if in the futute have a new technology ,cryptocurrency much better and high than bitcoin i think that is the one reason that bitcoin will die and if many people dont use use or invest  in bitcoin.
Agree. But also problem could be in the law of every government. If the largest states join against the Crypto-currency, I think it would have bad consequences.

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August 21, 2017, 02:47:12 PM
 #1427

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

when no one use bitcoin, include price of bitcoin drop and alt coin price grow up. and when bitcoin die it will replace by other coin that have more people interested.

yeah without people using bitcoin, bitcoin will not stay like now and people will be leave bitcoin if suddenly the price is drop like the first time launched. i don't know with the other coins, but i think there will be another coins which have many benefits to people will be the leader and lead the crypto currency world.

Yes if people will stop using bitcoin then the price will go down and then it will die but I think people will stop using bitcoin since we can use bitcoin to make transaction easy.
I do agree with you mate bitcoin will never die because bitcoin is getting stronger everyday and a lot of new users are using bitcoin now and almost everyone is considering bitcoin as the future of currency and we know the increasing price makes a thing strong and same bitcoin does now a lot of new people are using bitcoin it will never let bitcoin die according to my opinion.

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August 21, 2017, 02:57:01 PM
 #1428

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

I think bitcoin will only "die" if it is overpowered by other cryptocurrency. Therefore cryptocurrency will be still their. If other cryptocurrency upgrade their features, bitcoin will need to upgrade too. If bitcoin doesn't make any move, it will probably affect the rate of users of bitcoin and subsequently die.

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August 21, 2017, 08:05:45 PM
 #1429

Only possible scenarios that I could think of would be the end of money (which is unlikely), higher technology that would make blockchain tech obsolete, big change in economic and financial zeitgeist all over the world, and possibly non usage by all.
I think we are too long way for that ,bitcoins is not totally at its existence and it might be our future money in online as internet is also growing, i only think how about the poor ones who can't afford to buy a cellphone so that they can use bitcoins and any others in the society.
First bitcoin is growing and growing, it may be very long time to survive. And secondly if bitcoin or blockchain technology is abandoned due to obsolete, i think it is wrong. Bitcoin and blockchain technology will continue to evolve according to the times, just as hardfork and segwit it is an example of bitcoin development that follows the circumstances and times
At the success we are seeing now and it's growing then for sure it's hard to stop bitcoin.
Maybe we can see it will die if the biggest authority in this world which is the government will totally ban bitcoin.
That is something we can't do anything with because they have the power to do it.
But we don't need worry about this issue, Japan, Korea are the first country accept Bitcoin is legal, is new payment gate and asset for their country. I think other rich country as United Kingdom or United States skip the opportunity helps their economy give to other country in Asia.
No doubt Japan has recognized bitcoins as a legal payment method. China, Russia and Korea did the same whereas Philippine is making its move in the same direction. While Asian countries are accepting BTCs, Western world is silent in this matter. However, many renowned companies in West have accepted bitcoins.
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August 21, 2017, 10:29:55 PM
 #1430

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

I think bitcoin will only "die" if it is overpowered by other cryptocurrency. Therefore cryptocurrency will be still their. If other cryptocurrency upgrade their features, bitcoin will need to upgrade too. If bitcoin doesn't make any move, it will probably affect the rate of users of bitcoin and subsequently die.
but i do not think that there is any such altcoin which can overcome bitcoin in near future, i am sure that bitcoiin will continue for a  long time and is not going to die.
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August 21, 2017, 10:36:54 PM
 #1431

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
If it will be banned to most of the countries for an intance that it is used on illegal activities. If it would be illegal, the demand will drop, even if there'll be still people that use it. There'll be more people to be afraid of using it because of being illegal. If the demand will fall, it will negatively affect its market value if I'm not mistaken.

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August 21, 2017, 10:44:32 PM
 #1432

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
If it will be banned to most of the countries for an intance that it is used on illegal activities. If it would be illegal, the demand will drop, even if there'll be still people that use it. There'll be more people to be afraid of using it because of being illegal. If the demand will fall, it will negatively affect its market value if I'm not mistaken.

Legal problems won't kill bitcoin, they can only damage bitcoin's value. If there is such thing exists in the world to kill bitcoin, it's the bitcoin itself. Think about technical problems and a huge bug inside bitcoin. It would die immediately.

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August 21, 2017, 11:49:47 PM
 #1433

I dont know if what year bitcoin will die but i ithink if in the futute have a new technology ,cryptocurrency much better and high than bitcoin i think that is the one reason that bitcoin will die and if many people dont use use or invest  in bitcoin.
Inventing new technology, crypto will not kill the mighty bitcoin come on. Bitcoin being dead is like everyone stops using bitcoin. And that is never going to happen. Bitcoin users will never let that happen. Because if a new crypto better than bitcoin comes it will not get much popularity until people start using it. And even if they use it and that new thing gets higher than bitcoin even then people will use it and it will not die just like other coins lower than bitcoin.

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August 22, 2017, 04:01:34 AM
 #1434

Actually it this situation is not THAT impossible. If governments of few biggest countries signed a treaty, some kind of deal that they want to ban bitcoin, the price would fall to the ground and bitcoin would basically die. For now, bitcoin is not such a big threat to government but in the future it might become.
I have a different opinion. It is not that simple and easy and governments are aware of the threat that bitcoins impose on their power of control. I can bet many of the government authorities themselves are involved in crypto currency secretly. Bitcoin will not die until Internet dies. Other than that, nobody has the strength to stop the unstoppable. Bitcoins is a storm and will crush everyone who gets in its way. Bitcoins are cool!

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August 22, 2017, 04:08:40 AM
 #1435

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
Maybe if there' be continuous decrease of its demand for some reason. If the demand will fall continuously, the market value of Bitcoin will be totally low. And if this happen, maybe the end of Bitcoin will occur. But at the current state of Bitcoin on its demand and market value, it is quite impossiblr to happen, and in fact, tere are more people that are now interested to Bitcoin.

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August 22, 2017, 05:28:38 AM
 #1436

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
          Bitcoin has successfully overcome many critical issues like Mt.Gox hacked,price falls,BU,and now recently BCC.No altcoin today has the potential to replace bitcoin.So,its quite clear that bitcoin would not get destroyed by such factors.
             But it is said that quantum computers in future would be a big threat to bitcoin.It is said that quantum computers are moving closer to reality and many governments are investing in it.It is said that quantum computer will undermine the cryptography surrounding bitcoin's private and public keys.By this way,it will be able to read private keys of a bitcoin holder thus getting access to his bitcoins.It would be a huge threat to bitcoin.Already,many cryptographers are working to create quantum proof technologies so that bitcoin would be protected from such attacks.

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August 22, 2017, 05:36:57 AM
 #1437

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
quick death = network hack
slower death = multiple forks, like whats going on now
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August 22, 2017, 05:41:58 AM
 #1438

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
quick death = network hack
slower death = multiple forks, like whats going on now

Yes one of the case would be if network is being hacked or something fishy done due to which the ledger does not respond or cannot track it. Another thing will be if multiple powerful countries think that bitcoin is causing the problem to the economy due to the illegal activities done and they decide to ban it than this may lead to the crash of the prices which include countries like Japan, US. China etc.

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August 22, 2017, 05:47:00 AM
 #1439

0ne important ting will make btc die is no demand... if no demand, btc will become worthless.

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August 22, 2017, 05:57:11 AM
 #1440

for fast die. all communities dump bitcoin coin. pretty sure bitcoin will die in a second. hack can still be block or fix. but communities how they wanna fix it. if all dump being made.no one wanna buy it. absolutely die.

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