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Author Topic: In what situation would Bitcoin die?  (Read 101125 times)
lixer
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August 27, 2017, 07:25:13 AM
 #1481


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, 04:20:23 AM
 #1482

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
 #1483

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
 #1484

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
 #1485


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
 #1486


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
 #1487

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
 #1488

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
 #1489

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
 #1490

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
 #1491


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
 #1492

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
 #1493

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
 #1494

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
 #1495

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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September 01, 2017, 09:04:00 PM
 #1496

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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September 01, 2017, 10:18:45 PM
 #1497

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

Actually i dont see any situations that bitcoin and other top seeded cyptocurrency will die now or end except will if there will be a World War III which is described that will be the most fatal of all war histories. Ofcourse no more digital transactions will be process and all digital system and facilities might be destroyed even fiat will be hardly to excess. But still it will be restored as soon as peace will achieve again. So lets hope this assumption will not happen.
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September 01, 2017, 10:37:48 PM
 #1498

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 bitcin will not die just because of other cryptocurrency existence because for this era, even though there are lots of alternative coins that are present in the market that offers large count of income online, many people are still holding into their bitcoin because we all know that bitcoin is a fast growing currency online that makes many people have an opportunity to earn an income even without stable work to be a source  I think bitcoin death will be possible if there will be another sprout of world war that will probably result to a massive destruction on properties that can affect people's life that they will not prioritize bitcoin anymore added by the fact that it can be useless because money has no say in a war especially if it is online because on that time there will be no internet connection to generate and operate bitcoin usage.

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September 01, 2017, 10:44:08 PM
 #1499

In my opinion the only situation that Bitcoin could die is when we face a major disaster wherein we will have a global lose of internet connection. Internet Connection is our only way to access Bitcoin without it Bitcoin is useless.
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September 01, 2017, 10:57:25 PM
 #1500

My post here is more of a question or summary I suppose, but in considering what it would take for bitcoin to die, there is of course the concept that people stop finding interest or value in it. But have there not already been a whole bunch of different circumstances in the news that would have already taken a strong shot at bitcoin's viability:

Different scenarios that threaten bitcoin
- A hack and theft of a major exchange - this obviously happened with Mt. Gox. And while it is an unfortunate issue, bitcoin's price has clearly recovered. And of course there are more secure ways to store bitcoin (wallets) so holding on an exchange should not be something that people do regularly.
- Negative news - there has been a ton of this. The Silk Road issue and different forks. I am not crazy on the forks happening, since it can be confusing for a user who is not aware of bitcoin. But even with these the price continues to climb. And even if one of bitcoin or bitcoin cash were to be killed off, then it could just represent non-usage of the failed version, and the other version would have continued usage (assuming that the entire ecosystem continues to be used).

So while people buy more because the price continues to climb, more people can buy more because the price continues to climb, and so on. And then the finite element of it comes into play and allows bitcoin to be a viable store of value. So people not wanting to invest in it anymore and not holding anymore or valuing it is one of the only ways it could not succeed?Huh

I suppose there could be a big sell-off from a major holder which triggers more and more selling. But then that would entail the major holder wanting to cash out when it would be in their interest to keep holding and allowing the price to have a continued chance to rise.

Any thoughts? Am I on the right track?
 
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