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Author Topic: In what situation would Bitcoin die?  (Read 95977 times)
DoublerHunter
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September 24, 2017, 12:02:55 AM
 #1641

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
 #1642

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
 #1643

Bitcoin would die if everyone stopped using it.

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September 24, 2017, 12:23:14 AM
 #1644

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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September 24, 2017, 12:25:06 AM
 #1645

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).

If internet is diminished, bitcoin would die intantly.

But it can also die with the hack of its internat system including codes and blockchain structure. So far, it was very strong.

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September 26, 2017, 05:28:54 AM
 #1646

It will die if all country will ban bitcoin, the internet will shutdown, and there is no investor who want to invest.

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September 26, 2017, 03:47:50 PM
 #1647

Bitcoin would die if the internet died. Bitcoin would die if government seized exchange funds and sites and closed them down. These are the only 2 ways I see Bitcoin dying at all.
Yeah these events showed that anything can be happened in future but it is also evident that bitcoin have survived through this disaster and retained its value the market by rising again in the market. So I think that bit coin will never die.

If there is an extreme possibility of its death than that is only if some new crypto currency which is more secured and exponentially growing is introduced in the world.

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September 26, 2017, 04:11:32 PM
 #1648

Nobody knows. Recent events demonstrated that things which nobody expects keep happening all over the world without any control. In such environment bitcoin can die 
I 100 percent agree to you, because bitcoin is here due to the investment and trading of the people and when the people withdraw their investment from bitcoin that will be the time of its death. But I think bitcoin is a child and the world is feeding it to grow more and more.

Therefore I feel that it is not the time of its death besides its growth. Bitcoin gains popularity all over the world.

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September 26, 2017, 04:46:22 PM
 #1649

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".
Right on the spot mate. It really is sound confusing in the sense that you agree that Bitcoin would not die because of some reasons and then at the end you will say, that let's think how it might happen? But then again if you would read it as understandable as you could be it goes something like this:

"It is not possible for bitcoin to die, but let's think how it might suppose to happen."

Something like that, I guess.

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September 26, 2017, 04:51:42 PM
 #1650

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
For legality issues it is a wide spectrum, I am not totally aware of that we should ask the legal experts but for value wise or different technology wise it is not that easy to die. The reason is still the value is correlated with some how demand and supply and the volume is deep enough to die it might be decrease too lower levels but never be zero I guess, technology wise it is technically possible but not practically, we should wait to see what will happen during the fork, next month.

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September 26, 2017, 05:06:29 PM
 #1651

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.
Actually, there is a possibility that bitcoin would die of every country decide to banned it. We all know that if no more people using bitcoin it will probably die and if the internet was turned off it will also die. Lastly, I hope it would not happen because it has negative effect to all bitcoin users.

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September 26, 2017, 05:07:42 PM
 #1652

SHUTDOWN the internet in the whole world! spread all over virus throough all computers before doing that (for anohter security then shutdown the electricity all over the world .. and never turn it on!! EASY!!

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September 26, 2017, 05:14:58 PM
 #1653

I think Bitcoin will never die because Bitcoin is getting stronger day by day and a lot of new users are using Bitcoin and most people are considering Bitcoin as the future of the currency and we know the price increases. a strong thing and with Bitcoin now there are so many new bitcoin users it will never let bitcoin die in my opinion.

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September 26, 2017, 05:33:00 PM
 #1654

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.
Actually, there is a possibility that bitcoin would die of every country decide to banned it. We all know that if no more people using bitcoin it will probably die and if the internet was turned off it will also die. Lastly, I hope it would not happen because it has negative effect to all bitcoin users.

I do not believe that the Internet will be disconnected all over the world. And I do not believe that everything from the country can be prohibited by bitcoin. This is very difficult to do. Bitcoin will not leave people's lives anymore

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September 26, 2017, 06:14:59 PM
 #1655

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

Maybe a big security flaw. But it can be revived with a hard fork, so probably not
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September 27, 2017, 07:37:40 AM
 #1656

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.
I think the only thing that will end Bitcoin is if the community rejects the “power tech stock”* and everyone decides to move on, with the exchangers and all bitcoin platforms being shot down and deleted from the Internet; everything about bitcoin will then end. If not that way, then no other way for it to end.
When all the countries of the world ban on bitcoin. Secondly if people stop to invest in bitcoin then definitely bitcoin will die but it is looking impossible to me as the number of investors as well as the quantity of investment is increasing day by day and it is obvious and crystal clear that the increase in investors and investment indicates the long and non terminating life of bitcoin.


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September 27, 2017, 07:46:42 AM
 #1657

no more demand, former investors backing out, insufficient incoming investors, world war (maybe?), new type of currency that could beat cryptos, attack and shutting down of blockchain. These are possible events that might end up bitcoin being use and trade. But all are these are just theoretical so we will see in the near future the end of bitcoin.

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September 27, 2017, 07:47:01 AM
 #1658

I only see it that it would happen if apocalypse really destroys most of our planets' habitats and resources. There's no way that bitcoin still has use on that situation.

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September 27, 2017, 07:52:18 AM
 #1659

I only see it that it would happen if apocalypse really destroys most of our planets' habitats and resources. There's no way that bitcoin still has use on that situation.

Nope. There can be many other scenarios. Imagine what will happen if a better competitor emerges and starts replacing the Bitcoin. Or imagine what will happen, if the hackers are able to crack the private keys to the Bitcoin wallets in the distant future.

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September 29, 2017, 06:31:21 PM
 #1660

i think As long as there is bitcoin users it  won't die ever, but if majority of the members are loosing confidence and not having an interest nor enjoying the features of bitcoin, well that's the sign bitcoin will down the price until the until comes nobody using bitcoin anymore and you are right when internet dies then bitcoin will be die but it really impossible and internet would be never die and bitcoin is depend on internet and there a lot of users of bitcoin and more people adopting bitcoin.... Grin Grin Grin
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