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Author Topic: In what situation would Bitcoin die?  (Read 95612 times)
aardvark15
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March 02, 2017, 02:55:10 PM
 #241

I think there are two ways Bitcoin could die:

1) Bitcoin could fail to get widespread adoption and acceptance by merchants, users, or investors so the demand could drop and then the value would drop.

2) Governments could ban Bitcoin or regulate it to the point that no one wants to use it any more.

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March 02, 2017, 02:59:56 PM
 #242

The only way Bitcoin will ever die is if the internet dies or when the worth drops to zero. I don't think that the internet will die because it is something almost everyone uses en need.
And also that the worth of the Bitcoin will drop to zero because it is being used by more people each day.
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.
it mean bitcoin will never die because internet technology is permanent and its true that bitcoin depend on internet and we know that bitcoin digital currency just using through internet and i am sure internet internet will be survive forever.

I dont agree with your point of Internet cannot die, what if all the servers are got crashed due to some natural calamities then what can you do, Their is always possibilities of 1% chance of anything can happen, Bitcoin relies on Internet and what if Internet got crashed due to natural calamities like their is full of unnatural floods, earth quakes nothing can stop it

The sleep of reason produces monsters

If all the servers are brought down, that should be a calamity of such scale that Bitcoin might be the last thing you would then care for, like a huge asteroid hitting the Earth. Floods and earthquakes are unlikely to bring the whole Internet down, though they can certainly render connections between continents close to useless. There would still be satellites transmitting data between distant countries but I don't know if they would suffice to support Internet integrity at large

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March 02, 2017, 03:13:03 PM
 #243

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.

additionally also when users have started to leave bitcoin bitcoin, and switch to other alternatives as a means of payment.

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March 02, 2017, 03:26:01 PM
 #244


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.

Banning Bitcoin won't kill it inmy opinion.  It maybe supressed but it will not die, there will always be someone using it even if the government start tracking down users. 
The only thing that I think will kill bitcoin is when the demand dies out.  No one will support a network that will not incentivise a person.



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March 02, 2017, 05:24:37 PM
 #245

The only way Bitcoin will ever die is if the internet dies or when the worth drops to zero. I don't think that the internet will die because it is something almost everyone uses en need.
And also that the worth of the Bitcoin will drop to zero because it is being used by more people each day.
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.
it mean bitcoin will never die because internet technology is permanent and its true that bitcoin depend on internet and we know that bitcoin digital currency just using through internet and i am sure internet internet will be survive forever.

I dont agree with your point of Internet cannot die, what if all the servers are got crashed due to some natural calamities then what can you do, Their is always possibilities of 1% chance of anything can happen, Bitcoin relies on Internet and what if Internet got crashed due to natural calamities like their is full of unnatural floods, earth quakes nothing can stop it.
natural disaster will not only effect internet but will also bring a big change throughout the world. it will even effect all aspect of life. but in normal routine i think there is no chance that internet will down and hope that bitcoin will continue increasing from time to time and we will get enjoyment from it.



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March 02, 2017, 07:53:14 PM
 #246


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.

Banning Bitcoin won't kill it inmy opinion.  It maybe supressed but it will not die, there will always be someone using it even if the government start tracking down users. 
The only thing that I think will kill bitcoin is when the demand dies out.  No one will support a network that will not incentivise a person.
i do not think that any country is going to banned bitcoin, and if a country has already banned bitcoin then they will very soon left the bane because bitcoin is the need of the day and very soon people are going to adopt bitcoin not only as online currency.


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March 02, 2017, 08:11:58 PM
 #247

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
When the centralization in all countries will be implement or apply that could be the of end of bitcoin, meaning bitcoin will become centralized, and regulated and the definition of bitcoin as decentralized is no longer useful anymore. That is doom to us if that happens, but it won't of course in real life.

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March 02, 2017, 09:54:54 PM
 #248

The only way Bitcoin will ever die is if the internet dies or when the worth drops to zero. I don't think that the internet will die because it is something almost everyone uses en need.
And also that the worth of the Bitcoin will drop to zero because it is being used by more people each day.
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.
it mean bitcoin will never die because internet technology is permanent and its true that bitcoin depend on internet and we know that bitcoin digital currency just using through internet and i am sure internet internet will be survive forever.

I dont agree with your point of Internet cannot die, what if all the servers are got crashed due to some natural calamities then what can you do, Their is always possibilities of 1% chance of anything can happen, Bitcoin relies on Internet and what if Internet got crashed due to natural calamities like their is full of unnatural floods, earth quakes nothing can stop it.
there are emergency servers that would be launched and there are quite some of those emergency servers that could replace even if some of the other emergency servers go down, so yeah it is pretty much impossible for the internet to go down, and the 1% chance you are talking about is still pretty high, I would talk more about something like 0.000001% chance more if not the smaller. Besides that bitcoins do not require the internet, bitcoin could theoretically work with a pencil and a peace of paper as well...

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March 02, 2017, 10:01:29 PM
 #249


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.

Banning Bitcoin won't kill it inmy opinion.  It maybe supressed but it will not die, there will always be someone using it even if the government start tracking down users. 
The only thing that I think will kill bitcoin is when the demand dies out.  No one will support a network that will not incentivise a person.
i do not think that any country is going to banned bitcoin, and if a country has already banned bitcoin then they will very soon left the bane because bitcoin is the need of the day and very soon people are going to adopt bitcoin not only as online currency.

There is already countries that banned bitcoin.  I think it is still banned in that country until now.  Though I agree that banning Bitcoin will suppressed the users but it won't kill Bitcoin.  the best would be tracking and shutting down miners to make the transaction confirmation stop.  And all those who transact with it get an unsolved problem and look for alternative.

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March 02, 2017, 10:01:38 PM
 #250

It could be the black guy in a horror movie, or wear a red shirt in a Star Trek episode?

Those seem like the two most likely scenarios where bitcoin could die.

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March 02, 2017, 11:31:39 PM
 #251

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
When the centralization in all countries will be implement or apply that could be the of end of bitcoin, meaning bitcoin will become centralized, and regulated and the definition of bitcoin as decentralized is no longer useful anymore. That is doom to us if that happens, but it won't of course in real life.
i think it is now becoming impossible because the world is now becoming a global currency and people are giving more preference to online currency therefore the only option with them is the bitcoin and that is the reason that the government will also understand the situation better and will certainly not implement that rules.

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March 03, 2017, 12:49:04 AM
 #252

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

How about you, do you have any idea why bitcoin will gonna die? I'll just turn it back to you the question, obviously the value of bitcoin so far  is really getting higher which is showing the condition of bitcoin very smooth good. and going back to the question bitcoin will disappear when all bitcoin users and all traders in the exchange sites will leave this industry.



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The_Dark_Knight
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March 03, 2017, 01:15:25 AM
 #253

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
It is very difficult to imagine a scenario where bitcoin dies, what could happen is that the people lose interest in the technology, maybe a flaw is found in the code or the concept of the currency itself, bitcoin could be banned around the world or maybe another coin with better technology comes along.



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TIDOVEE
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March 03, 2017, 01:36:15 AM
 #254

This may occur if the security and the fee drops so unbearably, and this condition is very much under control since the transaction is global.

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March 03, 2017, 02:59:24 AM
 #255

I think bitcoin will die if lack of supply and demands. If no one already will use or will stop using bitcoin. The other way I think is bitcoin will permanently be banned by the government. These are the reason or cause I think bitcoin would dies.
Nope, next world of war, no electricity, no internet, and no bitcoin. But the banning by government can't be a strong reason. In 2014 Russian already banned bitcoin but it seems like to be a successful decision by them.

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cryptoblazter
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March 03, 2017, 02:59:34 AM
 #256

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

Bitcoin would die only if the price value will down to zero, then the users of bitcoin will disappear in this industry. Morever, the big investors who invested big in bitcoin will leave this place can be one of the reason of destroying bitcoin. And lastly, if the internet will be destroy the technology too are also gonna die.

virusasog
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March 03, 2017, 03:26:22 AM
 #257

This may occur if the security and the fee drops so unbearably, and this condition is very much under control since the transaction is global.

Security reason it might be but for the fee reason it won't die and all because it price value is higher than any money. Its been healthy time bitcoin many adoption and business implementation are going in block chain technology.therefore, price is also reaching to moon.
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March 03, 2017, 03:37:14 AM
 #258

Bitcoin would die if theres no already users on it because theres no demand then bitcoin would be useless because no one would like to buy it which means no value.We are just talking on the possibilities relating to circulation but speaking on technical if theres no internet then bitcoin cant circulate.



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March 03, 2017, 06:31:33 AM
 #259

There were already some cryptocurrencies (very small altcoins) that "died" - that means, the blockchain doesn't grow anymore because there are no users (=users with running full nodes). Example: TGCoin.

That would be the most probable scenario for a "dead Bitcoin", too. No demand, no users, no transactions. The "why" question would not be that relevant - it could be a better cryptocurrency or - a bit sci-fi - less need to use money for everyday life, or a much better technology than cryptos (e.g. a kind of artificial intelligence which manages our needs). It would not be dramatic, just boring - "the last Bitcoiner" will power off the light, most probably without anyone noticing it.

Another scenario would be a severe software bug. That could be much more dramatic, because it's very probable that there would be still people trying to use it. Although in this case if the bug can be solved, the blockchain can be started again, although there would be, for sure, a big price crash. This also already occured in some altcoins (e.g. Slimcoin).

I think bitcoin will die in the way that there is no people that using it. No one is saving it because of its low value. If bitcoin value will fall because of some instances it will have a big impact on it. People will fall down and their bussiess as well will fall. People that are rich when it comes to bitcoin will now get poor and people that has no bussiness will work hard for their family in order to earn for their everyday need. In other words, bitcoin will die if it's value will fall down and people will stop using it and it will cause some instances that will make a certain person poor and not to sustain their everyday need. Smiley

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poplolnman
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March 03, 2017, 07:16:36 AM
 #260

I think there are two ways Bitcoin could die:

1) Bitcoin could fail to get widespread adoption and acceptance by merchants, users, or investors so the demand could drop and then the value would drop.

2) Governments could ban Bitcoin or regulate it to the point that no one wants to use it any more.
adoption failure might happened , i just can't see the sign of it right now as everything so far run so good . a lot of new merchants popping up to accept bitcoin. and for the second reason i think there a lot of super power country like china and russia who has been ever banned bitcoin but the effort to prevent people to use bitcoin even makes the bitcoin adopter much more than before they ban bitcoin.

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