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Author Topic: In what situation would Bitcoin die?  (Read 101257 times)
CryptoBry
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September 10, 2017, 04:20:51 AM
 #1581

If everyone stops using it or if in some way becomes wothless, these are the two situations I think of that could make bitcoin die. But I don't know what could cause something like this, people get used to bitcoin and all benefits that it gives and demand is geting biger all the time.
Well, I agree that if everyone stops using bitcoin it will die. However, I think it will not die easily and as of now bitcoin become more popular and famous. In addition to that, as you can see no one can predict what will happen in the bitcoin in future but I believe that bitcoin would not die.
The demand is the life of bitcoin and that is right that if the demand of the people in bitcoin will be gone then it is the final life of bitcoin and it will eventually die but as you say, i also agree that it will be hard for bitcoin to die since it has a lot of demand right now and its users is expanding to its maximum capability.

Yes, it is all about the law of supply and demand. As long as there is a good rate of demand, then Bitcoin (and any coins for that matter) can continue on living indefinitely. Now, this demand can be influenced by so many factors and one of the factor we are seeing now are decisions by some governments that can affect the use, utilization, trading of Bitcoin. Sadly, this is where a forced death can happen. Should the Bitcoin community allow a stupid and bully country like China slowly kill Bitcoin?

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September 10, 2017, 04:38:40 AM
 #1582

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
I guess, bitcoin would end if there would be another coin or another famous campany that can overpass or surpass the bitcoin itself. Although it has a very low chance of happening, the highest chance would be the law or the government banning bitcoin to their country. But the worst thing that could happen is that the bitcoin would be hacked completely and its value will be useless.
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September 10, 2017, 11:51:40 AM
 #1583

What's on my mind is, if one person or a certain group buys all the bitcoins. The other situation is, if the anonymous person or group that created bitcoin decided to dump bitcoin. The last situation I have think of is, if all the countries decided to ban bitcoin.

I hope this will never happen because I am only starting.

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September 10, 2017, 05:19:56 PM
 #1584

i think bitcoin will say goodbye if evey countries ban every bitcoin situations ! if someone was caught of using bitcoin would go to jail , like that ! or the internet services is broke down for like 2-3 days or even more ! bitcoin price will drop and drop to 0 ! Or people stop using bitcoin ! Annother good coins talk over bitcoin spot on market ! Hackers , bug coin ! many things can happen on internet so we can't not see the bright future yet

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September 10, 2017, 05:36:52 PM
 #1585

I think Bitcoin will dead if every country decides to ban Bitcoin permanently. Then, there will be no more people using Bitcoin because they might be arrested in this condition. And bitcoin can also be dead if there are a new cryptocurrency which is more profitable, more advance and can fix most of the bug of bitcoin. In the future, there will be more cryptos qualifying these facors.
Well, I agree that bitcoin will die if every country decides to banned bitcoin. In addition to that, I think bitcoin will die if every person would not use it and I think bitcoin will die if there will be a new coin. However, I hope it will never happen because bitcoin helps me to gain and make income.

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September 10, 2017, 05:43:31 PM
 #1586

Well, we know that bitcoin dying is not caused by forum posts announcing that it is dead, because we get those on a daily basis. Cheesy
Or maybe when the internet connection will be down in all over the world at the same time.
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September 15, 2017, 09:09:55 AM
 #1587

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.
I am hundred percent sure that it will never die in any situation. Because people are buying more and more why? Because it is the future digital currency. So I think this topic is just for depressing the people who have invested their hard earnings in bitcoin and nothing else.

How it will die and what will be the reason. I do not understand these phenomena. Just keep buying and hold bitcoin in your wallets, and it will give you a huge profit in the future.
Dude! You are totally a confused person. First of all, the attack by Korea has already happened but bitcoin value is still above $4,000. So it doesn't matter if some countries keep on playing with each other. Other than that if you are saying bitcoin will die in any case then I think considering the decrease in price at the same time makes no sense. Bitcoins will only die if there will be no Internet and that is never going to happen.

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September 15, 2017, 09:47:20 AM
 #1588

In a situation where the whole world would ban bitcoin and the altcoins. Bitcoin would then surely fall, and everyone would lose their money.

It maybe will last a few years when the ban is new.
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September 15, 2017, 10:23:51 AM
 #1589

The only situation that Bitcoin can die is by the limitation of available devices and gadgets to transact using Bitcoin. Also since devices highly depends on power and electricity to run if there are any interference in an area like power outage and other natural and man made disasters then the use of Bitcoins will be much limited. That’s why conventional cash made from paper and precious metals will still be used even if bitcoin became widely available.
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September 15, 2017, 10:49:11 AM
 #1590

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 that the only situation bitcoin will die is by the limitation of available devices and gadgets to have some transaction using Bitcoin. Also, since devices are highly depending on power and or electricity to run, so if there are any interference in a local are like power outage and other natural disasters then the use of Bitcoins will be very much limited. That’s why some conventional cash that are made from paper and precious metals will still be used even if bitcoin became legalized.

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September 15, 2017, 11:50:05 AM
 #1591

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
As of the moment no situation what so ever will cause bitcoin to die,may be the prices can crash or along with the price crash of bitcoin ,other cryptos also start crashing(which is happening right now because of a bastard who has a lot of power in his speech,aka Jamie Dimon,CEO of JP Morgan Chase)  or may be there is this slightest possibility of bitcoin being replaced by any alt in the future. Even if prices do crash one thing is for sure and what we have seen in the past,bitcoin always recovers and all altcoins join along with it.

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September 15, 2017, 11:53:56 AM
 #1592

Bitcoin is a cryptocurrency so it means it uses internet for it to be transferred or to be used.I think that if the internet dies,bitcoin will be very much affected.Not only the bitcoin but all the cryptocurrencies out there.
If that would ever happen the eventually the economy of every country will also going to have a drop down, or worse currency would be not so relevant anymore. If you would think about it internet is the heart of communication is it not? So If it really happen all the transaction of other countries is not gonna as relevant as it was, although we still have radio communication still internet is the one thing that made it even more stronger and easier.














 

 

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September 15, 2017, 12:46:12 PM
 #1593

it may die, when all the governments ban cryptocurrencies. 

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September 15, 2017, 12:47:06 PM
 #1594

crypto ban would be huge publicity for crypto.. it will grow even bigger
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September 15, 2017, 12:48:35 PM
 #1595

when all government bans, it won't grow bigger. it will crash

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September 15, 2017, 12:49:39 PM
 #1596

I think Bitcoin will dead if every country decides to ban Bitcoin permanently. Then, there will be no more people using Bitcoin because they might be arrested in this condition. And bitcoin can also be dead if there are a new cryptocurrency which is more profitable, more advance and can fix most of the bug of bitcoin. In the future, there will be more cryptos qualifying these facors.
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September 15, 2017, 02:31:28 PM
 #1597

I think Bitcoin will dead if every country decides to ban Bitcoin permanently. Then, there will be no more people using Bitcoin because they might be arrested in this condition. And bitcoin can also be dead if there are a new cryptocurrency which is more profitable, more advance and can fix most of the bug of bitcoin. In the future, there will be more cryptos qualifying these facors.

I agree with you. That is my worst nightmare for bitcoin to get banned by almost all the major countries or all the countries that has a power and huge effect on most of the smaller countries than them and if they are going to ban bitcoin then the price of bitcoin will just go down and it will become useless since there is no user for bitcoin.

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September 15, 2017, 02:53:40 PM
 #1598

I think Bitcoin will dead if every country decides to ban Bitcoin permanently. Then, there will be no more people using Bitcoin because they might be arrested in this condition. And bitcoin can also be dead if there are a new cryptocurrency which is more profitable, more advance and can fix most of the bug of bitcoin. In the future, there will be more cryptos qualifying these facors.

I agree with you. That is my worst nightmare for bitcoin to get banned by almost all the major countries or all the countries that has a power and huge effect on most of the smaller countries than them and if they are going to ban bitcoin then the price of bitcoin will just go down and it will become useless since there is no user for bitcoin.
we see now that Chinese rumors banned Bitcoin make the price of Bitcoin down about 45%. I can not imagine if the whole country forbids Bitcoin, really you say it is a nightmare.
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September 15, 2017, 02:56:24 PM
 #1599

Maybe if somehow there is a great security threat related to bitcoin that will affect it reliability as a currency that may cause people to stop investing or using it.

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September 15, 2017, 07:27:21 PM
 #1600

Anything happening so quick will attract the eyes of government. If bitcoin price has increased gradually, government would have not given a shit about it. Since the price of bitcoin increased drastically, it caught into the eyes of the government. I would not blame the government. Rather i would blame the people. Whenever some opportunity arises, people just go and fall for it immediately.  When people noticed the bitcoin growth, many people purchased huge volumes in a hope  the price will go even further up. Because of huge volumes of buy, the price increased very quickly. Because the price went above the gold, it caught into the eyes of government.  Every government wants their fiat money to be preferred by the people, because government has control over it. So government will not be interested on these cryptocurrencies. 

Anytime government can restrict cryptocurrencies in their respective countries. When the major countries restrict, it is going to be a crash for sure.

But as of now we have relief because japan is supporting bitcoin which does a huge volume. Hope other major countries too support the bitcoins.

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