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Author Topic: In what situation would Bitcoin die?  (Read 101138 times)
Gabrieelle
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September 18, 2017, 01:44:32 PM
 #1621

I believe in situation if the electrons suddenly refuse to run all over the entire world, Bitcoin would die. As effectively as a milk in your fridge  
What do you mean by electrons? Does this mean the technology we have today? All of our technology is made by means of involves electronics devices. I didn't get what you mean but what I understand is if we lose the electronic devices that runs bitcoin that will be the situation where bitcoin dies.
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September 18, 2017, 02:14:59 PM
 #1622

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'll be a better crypto than Bitcoin and if Bitcoin will be banned to most of the countries for some reason such as being used in illegal transactions due to its decentralization even if this is kinda impossible. The biggest threat I think is another crypto that will have a higher market value than Bitcoin because it will surely make some of the users of Bitcoin to transfer into it that will make the demand fall but I doubt that it will totally die because there are lots of people that benefit from it.

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September 18, 2017, 02:23:31 PM
 #1623

When all influencial countries ban bitcoin and only small countries that is late on news only use bitcoin, this will be the start to end bitcoin

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September 18, 2017, 03:11:19 PM
 #1624

the situation that make bitcoin die or become a shit things is when bitcoin demand = 0, its means that all people dont need bitcoin and dont want to buy or keep bitcoin because of many reason, ht high posibility is some country in the world suddelny banned bitcoin and all cryptos at the same time, and make transaction bitcoin is illegal.

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September 18, 2017, 03:16:02 PM
 #1625

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
If government handles bitcoin and if they own bitcoin I think that is the biggestbdownfall of bitcoin and bitcoin society, and due to the lack of literacy in bitcoin many people take a risk without knowing what risk theybare taking for.

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September 18, 2017, 04:09:34 PM
 #1626

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
If government handles bitcoin and if they own bitcoin I think that is the biggestbdownfall of bitcoin and bitcoin society, and due to the lack of literacy in bitcoin many people take a risk without knowing what risk theybare taking for.
It won't happen because bitcoins is not created for government and many people would not let it happen that the main thing about bitcoin decentralised. Bitcoins will not going to die in such situation unless all about bitcoins and other cryptocurrency will be banned in the web.

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September 18, 2017, 04:25:17 PM
 #1627

government will not take over bitcoin. But may create a similar coin and order every one to use only that coin.

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September 18, 2017, 04:59:30 PM
 #1628

How and why would the end of bitcoin (and any other cryptocurrency) occur?
In Bitcoin, the supply decreases in time and will reach its final number somewhere in around 2140
I've read it on blockgeeks.  Wink
Quote
Value decrease?
It's value depends on the supply and demand. If more people would invest in bitcoin, it's value will increase. But when a lot of people are withdrawing or converting it into cash it's value will drop.
Quote
Legality issues?
I'm not sure about it's legality. But you don't need anybody's approval to use cryptocurrencies. Nobody can prevent us from using it unless it is prohibited by your government.
Quote
Different technology/ideas to supersede it?
If someone would invent something more promising than bitcoin.

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September 18, 2017, 05:24:49 PM
 #1629

Bitcoin is unlikely to die by now. After all, there is demand for it, and some time has passed for which bitcoin proved its usefulness. Bitcoin can die only if the demand for it is gone. For example, in the case of a nuclear war or a zombie apocalypse, because in the priority will be not coins, and food and water, well, or caps from the bottles of Nuka-cola.

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September 18, 2017, 05:36:31 PM
 #1630

We could see that bitcoin is successfully overcoming all the legality issues.It is getting legalized in more countries and even despite china's actions against bitcoin exchanges,bitcoin has managed to remain at the price $4,000.Its increasing demand day by day has made its price to increase constantly.Until now,there is no altcoin which has the potential to replace bitcoin.But,it is said that after twenty years,when quantum computing would be introduced,it would be able to read the private key from the public key,thus safety of bitcoins stored in the wallet getting compromised.So,it might be a serious threat to bitcoin in the future.
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September 18, 2017, 05:57:45 PM
 #1631

Bitcoin will only die when there is total internet shutdown (no internet service all over the world) which is not going to happen. Cool

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September 23, 2017, 08:36:36 PM
 #1632

Possibly bitcoin will die when a terrible disaster assault the entire planet and make all the system down or if you want the great motives maybe it will die if there is certainly no electricity any longer. But the best chance that can take place is when some individuals good results to generate a technique or virus to make bitcoin worthless.
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September 23, 2017, 08:52:32 PM
 #1633

Bitcoin would probably die in one and only case and that is an internet shutdown globaly during a natural disaster or a nuclear war but all the ban / bad influence stuff wont affect bitcoin's health only its value.

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September 23, 2017, 09:47:22 PM
 #1634

Bitcoin would probably die in one and only case and that is an internet shutdown globaly during a natural disaster or a nuclear war but all the ban / bad influence stuff wont affect bitcoin's health only its value.
Technogenic catastrophe can destroy everything. But as soon as computers and the Internet are restored, bitcoin will continue its life. It seems to me that bitcoin can die from losing support and popularity among people

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September 23, 2017, 10:45:31 PM
 #1635

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

It's not possible for bitcoin to die but let's suppose how it might happen.
-If the miners somehow stop mining.
-If someone hacks into the bitcoin network.
There are many others ways but these are enough for this topic

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September 23, 2017, 10:57:25 PM
 #1636

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

It's not possible for bitcoin to die but let's suppose how it might happen.
-If the miners somehow stop mining.
-If someone hacks into the bitcoin network.
There are many others ways but these are enough for this topic

Bro, your answer makes no sense.

First you say it is not possible for Bitcoin to die.

Then you say "let's suppose how it might happen".
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September 24, 2017, 12:02:55 AM
 #1637

Bitcoin would probably die in one and only case and that is an internet shutdown globaly during a natural disaster or a nuclear war but all the ban / bad influence stuff wont affect bitcoin's health only its value.
The lose of connection in the internet because of shutting it down due to the disaster or war will not affect bitcoin because bitcoin is only depending on the internet but its life is not depending on that. It depends on the miners who mines bitcoin and support the network of it so even the internet will shut down, the life of bitcoin will just stop and it will continue again once the internet goes online.

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September 24, 2017, 12:19:21 AM
 #1638

Situations where Bitcoin dies/becomes useless:

1. Governments across the globe ban it for some reason, and block Bitcoin-related websites.
2. The masses do not embrace it (in this case it would eventually fail).
3. Fall of the internet. If the internet goes down or becomes less popular then Bitcoin could fail to gain the traction it needs to reach critical mass (the point where it officially becomes "a thing", which we have not yet reached).



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FrozenByte
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September 24, 2017, 12:22:38 AM
 #1639

Bitcoin would die if everyone stopped using it.

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September 24, 2017, 12:23:14 AM
 #1640

The only two reasons that I see is:
1. Total shutdowb of the internet where we can't access our wallet or do any transaction.
2.Investors getting bored and selling it off (but I think this would never happen).
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