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Author Topic: In what situation would Bitcoin die?  (Read 96014 times)
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August 25, 2017, 02:41:07 PM
 #1481

I guess bitcoin die if there's a new currency better than bitcoin and be famous on a short perioud but in my mind bitcoin won't die because a lot of people predict on him .

Bitcoin will not die in the case you've described. If there's a new currency which is better than bitcoin can coexist with it. Look how many different cryptos around and all of them coexist, no one dies except for the really bad ones.

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August 25, 2017, 03:16:24 PM
 #1482

Bitcoin will die along with other crytocurrencies when the government decides to regulate it, if this happens, there will be more requirements that we all need to adhere before we can do purchase, also transaction fees may substantially increase due to taxes and processing. This will effect into people having more difficulty in their transactions and may lose faith to bitcoin causing it to loose value.
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August 25, 2017, 07:54:17 PM
 #1483

This maybe apply to altcoins but in bitcoin isn't. Since it is the person's choice if he/she going to use bitcoin. As long someone use or investing on bitcoins, it wouldn't die. Also, bitcoin will going to adopt the market system in the future making it hard to die.
well said bitcoin is at the stage of growing and it too young yet so I think it is the time to grow for bitcoin but not to die and something dies when it stop breathing but bitcoin is still breathing through the investment of the investors and the participants of the bitcoin forum so how can it die so early bitcoin will grow and it will never stop growing till the end of the world because it is the ray of hope for thousands of the people.

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August 27, 2017, 07:25:13 AM
 #1484


What is certain when all is not willing to talk, search and trade bitcoin, but is it possible that it happened? It seems impossible, because every day many need bitcoin for any purposes and needs.
So when will it happen? Still a dream only.

It will happen only if there is totally internet shutdown all over the world or there is another world war!! but for now it just lucky guest! now one know if that possible to happen but before that to happen be sure to save or transfer that bitcoin to real fiat.
How can a world war eradicate bitcoins from the face of the Earth? First of all, no such thing like world war would happen. I would suggest you reading about UNO and all that stuff. Secondly, even if war breaks out, officials are not gonna post letter to our homes before the war so there will be no time for collecting money. However, Internet would not die in any case, not even in the war so bitcoins will survive.

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August 29, 2017, 04:04:37 AM
 #1485

If someone were to control 60% of the hash power and deliberately sabotage transactions i.e double spending , slower confirmation and higher transaction fee, people will lose trust in the system. Bitcoin has value because the people using it believe it has...like in a regular currency, it is backed by the economy of the country that issues it hence the people trust and use it same with bitcoin, without the backing of its users it would lose popularity and fall.

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August 29, 2017, 04:20:23 AM
 #1486

If someone were to control 60% of the hash power and deliberately sabotage transactions i.e double spending , slower confirmation and higher transaction fee, people will lose trust in the system. Bitcoin has value because the people using it believe it has...like in a regular currency, it is backed by the economy of the country that issues it hence the people trust and use it same with bitcoin, without the backing of its users it would lose popularity and fall.

Achieving 51% hash power will be extremely difficult. And maintaining this hash power for longer duration would be even more difficult.  And even if someone succeeds in doing that, what makes you think that he will do something that can reduce the value of Bitcoin to zero?

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August 29, 2017, 04:28:59 AM
 #1487

If there was some other crypto currency that was so popular that it takes people's attention away from Bitcoin. That might be a way that it dies.

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August 29, 2017, 04:43:12 AM
 #1488

People stop using internet , people stop using or mining bitcoin ! Therefore byebye bitcoin ! But none of them exist  Wink Wink
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August 29, 2017, 04:46:24 AM
 #1489


What is certain when all is not willing to talk, search and trade bitcoin, but is it possible that it happened? It seems impossible, because every day many need bitcoin for any purposes and needs.
So when will it happen? Still a dream only.

It will happen only if there is totally internet shutdown all over the world or there is another world war!! but for now it just lucky guest! now one know if that possible to happen but before that to happen be sure to save or transfer that bitcoin to real fiat.
How can a world war eradicate bitcoins from the face of the Earth? First of all, no such thing like world war would happen. I would suggest you reading about UNO and all that stuff. Secondly, even if war breaks out, officials are not gonna post letter to our homes before the war so there will be no time for collecting money. However, Internet would not die in any case, not even in the war so bitcoins will survive.

world war is not match answer regarding questions above, because world war is would not disturbs  accessibility of bitcoin. maybe when world war breaks out there is possible to block access Internet of foe country's but it just regionally whole world else still can access Internet

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August 29, 2017, 04:49:54 AM
 #1490


What is certain when all is not willing to talk, search and trade bitcoin, but is it possible that it happened? It seems impossible, because every day many need bitcoin for any purposes and needs.
So when will it happen? Still a dream only.

It will happen only if there is totally internet shutdown all over the world or there is another world war!! but for now it just lucky guest! now one know if that possible to happen but before that to happen be sure to save or transfer that bitcoin to real fiat.
How can a world war eradicate bitcoins from the face of the Earth? First of all, no such thing like world war would happen. I would suggest you reading about UNO and all that stuff. Secondly, even if war breaks out, officials are not gonna post letter to our homes before the war so there will be no time for collecting money. However, Internet would not die in any case, not even in the war so bitcoins will survive.

world war is not match answer regarding questions above, because world war is would not disturbs  accessibility of bitcoin. maybe when world war breaks out there is possible to block access Internet of foe country's but it just regionally whole world else still can access Internet
Technically what he said about thw world war is probable. Because when there is a world war the most important asset is not money  but food and water anything without value to them such as Bitcoin (which wi be useless in war) will not have any value when you want to purchase food and water, thats if you can even use your Bitcoin when it is time for War. I don't think internet will be accessible to the product for the national security.

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August 29, 2017, 04:52:51 AM
 #1491

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 there will be no internet in the whole world. That will be one reason, the other reason I think is that btc will die if there will be no people to invest in it. Which explain that it will never die.
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August 29, 2017, 04:56:00 AM
 #1492

I think bitcoin would die when Internet dies.

No trading, no transactions, no value..!

But can internet can die? Shocked

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August 29, 2017, 05:16:06 AM
 #1493

Right now, a global power outage would be a big problem. But once we have bitcoin satellites in space, only a catastrophe at the cosmic level would be a problem that could put Bitcoin at existential risk.
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August 29, 2017, 05:26:47 AM
 #1494

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 there will be no internet in the whole world. That will be one reason, the other reason I think is that btc will die if there will be no people to invest in it. Which explain that it will never die.
Bitcoin will not die if there will be no internet connection because bitcoin is still alive and the only thing that we know is, bitcoin is just in sleep since there is no internet connection and for the second reason that you listed, it is possible to happen if there will be no people invest in bitcoin then it will die because we all know that the difficulty is keep on rising and the price is getting more expensive and making it not affordable anymore for some people so the possibility of investors is getting lower and lower.

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August 29, 2017, 05:36:08 AM
 #1495


What is certain when all is not willing to talk, search and trade bitcoin, but is it possible that it happened? It seems impossible, because every day many need bitcoin for any purposes and needs.
So when will it happen? Still a dream only.

It will happen only if there is totally internet shutdown all over the world or there is another world war!! but for now it just lucky guest! now one know if that possible to happen but before that to happen be sure to save or transfer that bitcoin to real fiat.
How can a world war eradicate bitcoins from the face of the Earth? First of all, no such thing like world war would happen. I would suggest you reading about UNO and all that stuff. Secondly, even if war breaks out, officials are not gonna post letter to our homes before the war so there will be no time for collecting money. However, Internet would not die in any case, not even in the war so bitcoins will survive.

world war is not match answer regarding questions above, because world war is would not disturbs  accessibility of bitcoin. maybe when world war breaks out there is possible to block access Internet of foe country's but it just regionally whole world else still can access Internet
Technically what he said about thw world war is probable. Because when there is a world war the most important asset is not money  but food and water anything without value to them such as Bitcoin (which wi be useless in war) will not have any value when you want to purchase food and water, thats if you can even use your Bitcoin when it is time for War. I don't think internet will be accessible to the product for the national security.
If the world war happening, I think Bitcoin and Gold are best choice in that time, because we also know keep paper money in that time high risk than choose asset. You can see Korean and Japan are country have high volume everyday in recent. Wink

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August 29, 2017, 05:42:00 AM
 #1496

I can only see the possibility that bitcoin will die if there's a shortage of power(electricity) around the world or humans go extinct.

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August 29, 2017, 05:46:39 AM
 #1497

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 there will be no internet in the whole world. That will be one reason, the other reason I think is that btc will die if there will be no people to invest in it. Which explain that it will never die.
Bitcoin will not die if there will be no internet connection because bitcoin is still alive and the only thing that we know is, bitcoin is just in sleep since there is no internet connection and for the second reason that you listed, it is possible to happen if there will be no people invest in bitcoin then it will die because we all know that the difficulty is keep on rising and the price is getting more expensive and making it not affordable anymore for some people so the possibility of investors is getting lower and lower.
Bitcoin would die if all Miner is no longer mine Bitcoin, Yeah as you explain it, the difficulty miners when it mines then the prices Bitcoin will be higher, thus making the investors aren't interested anymore because its price is already very expensive.

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August 29, 2017, 05:47:04 AM
 #1498

Bitcoin could die if it cannot sustain the demand of the market because we all know bitcoin is limited and then suddenly another cryto currency will be introduce in the market with much more supply to offer

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September 01, 2017, 08:48:33 PM
 #1499

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 there will be no internet in the whole world. That will be one reason, the other reason I think is that btc will die if there will be no people to invest in it. Which explain that it will never die.
Bitcoin will not die if there will be no internet connection because bitcoin is still alive and the only thing that we know is, bitcoin is just in sleep since there is no internet connection and for the second reason that you listed, it is possible to happen if there will be no people invest in bitcoin then it will die because we all know that the difficulty is keep on rising and the price is getting more expensive and making it not affordable anymore for some people so the possibility of investors is getting lower and lower.
Sleep is half death, if you know what I mean. Without internet, BTCs are as good as gone dude. And if you ask my opinion on the second point, it is just impossible. People even buy trash like China do and recycles it and we are talking about the foundation of crypto currency world. It's an idea and it will never die.

Only external territory activities are needed to make bitcoin actionless. Up to this point, those kind of activities will never be possible and we never need to worry about these unnecessarily.


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basyang
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September 01, 2017, 09:04:00 PM
 #1500

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

     In my personal opinion, I think bitcoin would die if the situation is the bitcoin price is getting lower and lower and some of us holding their bitcoin hoping that someday it will high again but it doesn't. In terms of legality issues, I think it would be a possible reason too because we know that many country did not accepting or they still rejecting bitcoin. In Different technology, probably if there has a new digital currency beat bitcoin in the future and its price is higher than bitcoin price

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