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Author Topic: In what situation would Bitcoin die?  (Read 101151 times)
olliedickman
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September 03, 2017, 04:35:20 PM
 #1541

I Think the only situation when bitcoin die is when internet is dead, because bitcoin using blockchain and blockchain need internet to run.
I don't see any persuasive situation that Bitcoin will die. Bitcoin will only die if we don't have internet. Nowadays, internet is a tool for people get access to many things, to communicate. Therefore, without internet, Bitcoin will die.
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September 03, 2017, 11:49:10 PM
 #1542

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.
I think that will be the problem is the second reason, the price will continue to rise because of the growth and more users. but with this price tag I'm a little worried about the more people who are not interested in bitcoin because of the expensive bitcoin price. let alone the bitcoin team has not been able to solve the problem of a very high fee, if the fee does not decrease along with the expensive bitcoin of course it will be a problem in the future

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September 03, 2017, 11:56:21 PM
 #1543

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.
I think that will be the problem is the second reason, the price will continue to rise because of the growth and more users. but with this price tag I'm a little worried about the more people who are not interested in bitcoin because of the expensive bitcoin price. let alone the bitcoin team has not been able to solve the problem of a very high fee, if the fee does not decrease along with the expensive bitcoin of course it will be a problem in the future

Typically with the fees bitcoins will not die because of that but it reduces the persons because the transactions are based on fees the higher the faster which is really disappointing.

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September 04, 2017, 12:03:47 AM
 #1544

I Think the only situation when bitcoin die is when internet is dead, because bitcoin using blockchain and blockchain need internet to run.
I don't see any persuasive situation that Bitcoin will die. Bitcoin will only die if we don't have internet. Nowadays, internet is a tool for people get access to many things, to communicate. Therefore, without internet, Bitcoin will die.

I don't think that internet is going anywhere and it will become more advanced in future and bitcoin can die only if it falls back to 0 level and if it does no one would be interested in using or investing their money in bitcoins but the chances of that happening is rarest of rare as bitcoin will keep on growing in future.



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September 04, 2017, 12:14:29 AM
 #1545

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


I can't think of any. Bitcoin has established its strong foundation through the years and its hard to break that now in the present. One thing for sure that can en bitcoin now is a worldwide rebellion. Why? See as long as some people uses and continue to defend bitcoin it won't be surpassed because the fact that it is digital, you can't just basically block its usage so as long as the world won't reject bitcoin. It will never lose its value and its reputation that it has made.
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September 04, 2017, 11:43:15 AM
 #1546


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.
Total internet shutdown is not possible so it cannot be the reason why bitcoin will die, just in case. I think it will die if another currency developed that will be more useful and have better features that can make users to choose it rather than bitcoin.
Who told you that a total internet shutdown won’t  bring the death of bitcoin ? Assuming the internet is shutdown for like 15 years, you’re likely to forget about your hardware and computers, and some of them might become faulty or damaged. So you won’t have access to the bitcoins when internet gets on after the 15 years. Lol. Just an opinion.

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September 04, 2017, 11:51:06 AM
 #1547

Solar flare could cause global power loss and thus digital currency becomes worthless.

Worst case. Shocked
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September 04, 2017, 12:01:50 PM
 #1548

I think bitcoin will die if, first WW3 happens that cause severe damage to internet infrastraucture and take years or months to recover. Second is when our government take some action because they are not earning taxes with bitcoins. Third is when there's new cryptocurrency invented that's like just a real money that we can spend anywhere like restaurants, hospitals, supermarkets, online shops and many more.
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September 04, 2017, 12:18:52 PM
 #1549

I Think the only situation when bitcoin die is when internet is dead, because bitcoin using blockchain and blockchain need internet to run.
I don't see any persuasive situation that Bitcoin will die. Bitcoin will only die if we don't have internet. Nowadays, internet is a tool for people get access to many things, to communicate. Therefore, without internet, Bitcoin will die.
I totally agree with you, the Internet is one of the major elements that must exist in the
cryptocurrency world. Without internet Bitcoin will be die , along with all the other cryptocurrency.

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September 04, 2017, 12:34:05 PM
 #1550

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
If we stop supporting it and needing it maybe but i doubit will happen. 

Bitcoin would die if there is no demand to it and people will not use it which is unlikely to happen because bitcoin is the one who started blockchain technology which then become an inspiration for others to follow thus having altcoins which some tried to supersede bitcoin but they just can't. Bitcoin is in demand and the most known cryptocurrency in fact others still refer to some altcoins as bitcoin as well and cryptocurrency market cap is so big nowadays that it is hard for us to imagine bitcoin being gone which started it all.
Bitcoin won't die if people stop asking for it. This is not possible that bitcoin would have not even one dealer. Chinese merchants are not gonna leave its side. If the internet connection is removed, we are unable to use bitcoin. That means it lives on internet and will die without it.
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September 04, 2017, 12:45:37 PM
 #1551

maybe bitcoin will lose its value when bitcoin prices go down and continue down until bitcoin price reaches 0.1 $ / btc. maybe at that time otang people will look for other alternatives in investing. bitcoin will disappear slowly in the world of crytocoin .. all stories about bitcoin will be lost. but that's not possible because if we see bitcoin prices go up. bitcoin is becoming very popular.

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September 04, 2017, 12:50:20 PM
 #1552

Why do you think btc can die in crypto? Maybe you die in front  and you will not be able to see the end of it and so you don't think too much about the btc trough
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September 04, 2017, 01:04:21 PM
 #1553

Bitcoin would die if all the activities in bitcoin will be gone like the demand in the market and also the support of the miners then they will make bitcoin die because what is the purpose of bitcoin if there will be no people interested in bitcoin? I don't think that it will survive for a long time if there will be no people that will do some activities with bitcoin.

   
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September 04, 2017, 02:22:44 PM
 #1554

If some powerful countries which are power houses in world economy and politics declares that they are not accepting bitcoin as a valid currency in the future for any reason, bitcoin can see the bottom. I don't see any other reason for bitcoin to go down other than that.

And if you remember  bitcoin had some downs like 20-30% back in 15-20 June. That shows us bitcoin is not immortal or untouchable . It is of course trust worthy till some point but it would be wise to not trust anything 100%.

So it would be better to spread your investments to some alt coins as well.

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September 04, 2017, 03:50:11 PM
 #1555

If some powerful countries which are power houses in world economy and politics declares that they are not accepting bitcoin as a valid currency in the future for any reason, bitcoin can see the bottom. I don't see any other reason for bitcoin to go down other than that.

And if you remember  bitcoin had some downs like 20-30% back in 15-20 June. That shows us bitcoin is not immortal or untouchable . It is of course trust worthy till some point but it would be wise to not trust anything 100%.

So it would be better to spread your investments to some alt coins as well.

Bitcoin cannot die even if the world super power declare it illegal or if the handful of countries stop using bitcoin as a medium of transactions.  The reason for this is that bitcoin is not controlled by anyone and it is not anyone's property and hence no regulation can be applied to it. This is the currency of people and it will keep on running till the last man of the earth uses it.  Smiley



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September 04, 2017, 05:52:16 PM
 #1556

Solar flare could cause global power loss and thus digital currency becomes worthless.

Worst case. Shocked
yes you are right that bitcoin can never go down because it is depended on the digital world and it is increasing as the value and the price of the bitcoin increasing in this case it is impossible to see bitcoin dead the only case we can suppose bitcoin dead is if they start taking large fees with low transaction because a lot of people are investing in bitcoin and they use bitcoin for the reliability so if they will found it difficult and slow they might quit using bitcoin.

 

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richmcrich
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September 05, 2017, 10:10:49 AM
 #1557

If some powerful countries which are power houses in world economy and politics declares that they are not accepting bitcoin as a valid currency in the future for any reason, bitcoin can see the bottom. I don't see any other reason for bitcoin to go down other than that.

And if you remember  bitcoin had some downs like 20-30% back in 15-20 June. That shows us bitcoin is not immortal or untouchable . It is of course trust worthy till some point but it would be wise to not trust anything 100%.

So it would be better to spread your investments to some alt coins as well.
Bitcoin go up and down and it does not mean that it will End or Die. Bitcoin can never ever die. The only situation can be a big flaw in the blockchain technolgy itself making bitcoin down to zero, but of course it will not happen. Bitcoin has been for 9 years and will contuine  to live forever.

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Japinat
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September 05, 2017, 10:19:48 AM
 #1558

If some powerful countries which are power houses in world economy and politics declares that they are not accepting bitcoin as a valid currency in the future for any reason, bitcoin can see the bottom. I don't see any other reason for bitcoin to go down other than that.

And if you remember  bitcoin had some downs like 20-30% back in 15-20 June. That shows us bitcoin is not immortal or untouchable . It is of course trust worthy till some point but it would be wise to not trust anything 100%.

So it would be better to spread your investments to some alt coins as well.
Bitcoin go up and down and it does not mean that it will End or Die. Bitcoin can never ever die. The only situation can be a big flaw in the blockchain technolgy itself making bitcoin down to zero, but of course it will not happen. Bitcoin has been for 9 years and will contuine  to live forever.
It's hard to say forever because bitcoin still a risky investment, it could continue to exist but with people losing its interest it will surely die.
Bitcoin is decentralized and we are the owner of a certain portion if we are holding a bitcoin and when decide not to use it the value will drop until it will become worthless.



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September 05, 2017, 10:25:12 AM
 #1559

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 the most important thing that bitcoin would end is that if technology would be nothing. Technology is a thing that makes everything online works. I believe bitcoin wouldn't end because technology has been rampant right now.

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September 06, 2017, 01:32:02 PM
 #1560

I guess 51% attack could. If someone had enough resources to control more than a half of the bitcoin network - he might destroy bitcoin at will.
But in my opinion it doesn’t make any sense because this one should invest an enormous amount of money in something he will immediately kill.  Undecided
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