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Author Topic: In what situation would Bitcoin die?  (Read 101267 times)
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February 10, 2017, 06:57:45 AM
 #41

I see a lot of misinformed members here babbling the same "no one uses people not interested any more bullsh*t" well get it to your heads, if bitcoin was to fail or fade away no one would've used it in the first place and the idea behind it would've never made any logical sense to anyone and no body would've known bitcoin at all.
every day bitcoin get a lot of companies, investors and new communities for bitcoin, so in my opinion it was not going to die unless satoshi really alive and back Tongue
Now that is what I call semi-moron Cheesy please explain to me the relevance between a human life and success or failure of a digital currency.

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February 10, 2017, 07:03:38 AM
 #42

I think when bitcoin became worthless, when all that was originally believed in bitcoin be don't believed, when bitcoin is not used or possibly replaced, there are many things that must happen if for dropping bitcoin

          
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February 10, 2017, 07:03:49 AM
 #43

two scenario a might see here, one is witht he value, connected with regulation of the exchange

we see how easy is for chinese to dump everything and kill 30% of the value in no time, because they fear their government...

another one is if you destroy those big farm in china, which it's surely possible to do
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February 10, 2017, 07:09:09 AM
 #44

two scenario a might see here, one is witht he value, connected with regulation of the exchange

we see how easy is for chinese to dump everything and kill 30% of the value in no time, because they fear their government...

another one is if you destroy those big farm in china, which it's surely possible to do
That is, it turns out that all tied to China and if someone under force to destroy Bitcoin only them. I do not know is true or not, but it looks that way.

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February 10, 2017, 07:12:55 AM
 #45

To me the only scenario I could see bitcoin would die if there's a better cryptocurrency that would be invented then bitcoin users would start adopting the new cryptocurrency.

Bitcoin will die if miners stop mining it.  Which is somehow impossible to happen.  But if in case miners stop mining Bitcoin, no one will process the transaction making chaos in economic scale of Bitcoin.  Then once transaction stops to confirm then users will look for alternative.  So I think life and death of Bitcoin starts with miners.
You already said that it's impossible to happen then why would you still say that the death of bitcoin starts with miners wth.

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February 10, 2017, 07:21:39 AM
 #46

Bitcoin was developed to solved financial problems. To me one thing that can kill bitcoin is when it values as a currency is undermined. If it value is undermined? It demands will reduce and if it demands is reduced then expect miners, trader, and blockchain owners to abandon it. But for now I don't see that happening, we expect bitcoin price to be stable in near future so people can trust it.

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February 10, 2017, 07:41:15 AM
 #47

two scenario a might see here, one is witht he value, connected with regulation of the exchange

we see how easy is for chinese to dump everything and kill 30% of the value in no time, because they fear their government...

another one is if you destroy those big farm in china, which it's surely possible to do
A lot of scenario actually things that can make bitcoin gone forever and die.
Since bitcoin running by internet connection and then once internet disappear that time bitcoin useless.
Even though it seems impossible to be happened but it is worth to be anticipated, isn't it?
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February 10, 2017, 07:46:54 AM
 #48

well like what other's said if trust coming from its support will die and if all the countries decide that bitcoin is not a good alternate currency or if they create another form of cryptocurrency which they have good control, but on a second thought i wasn't got any idea syncing in my mind seeing that this day will come anymore as bitcoin already in a main stream and a lots of adoptions already been made, its really a little chances to see bitcoin die.


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February 10, 2017, 07:49:40 AM
 #49

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 going to die when the market cap of bitcoin will be $0 already which is very impossible to happen because those investors are not just investors they did put their trust and money to bitcoin so it is going to be a dream only that bitcoin will die. Maybe if there's another interesting coin that will come out or upgrade of bitcoin, the first version of bitcoin will die.
Yes it is impossible for now, I can't imagine what kind of issues will crash bitcoin until no one won't use it anymore.
Legality issue may decrease the value but not affected entirely users so bad, and bitcoin will find the way to rise again.
Different technology/ideas may supersede bitcoin? Maybe, but it can't make bitcoin to the grave. The only problem that will make bitcoin die should because no more internet connection anymore (nuclear war), so no one could access to bitcoin transfer over the world, back to conventional remittance service again.

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February 10, 2017, 07:51:09 AM
 #50

Bitcoin will die if it encounters certain condition that will clearly lead to its doom. First is banning of bitcoin by all countries, if all nations around the world would ban bitcoin then who in their right mind use bitcoin. Second, if another digital currency such as fiat digital currency will overwhelm the use of bitcoins then possibly bitcoin will end, and lastly if people have lost interest in bitcoin then bitcoin will deemed valueless.

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February 10, 2017, 07:59:13 AM
 #51

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 it will not go for die because the demand for such types of currency is going to increasing day by day , So here it is better To accept forcely instead to remove from our life .
But still from the opposite thinking of the bitcoiner some countries may ban the bitcoin .
Few of the countries got banned the bitcoin but most of the countries allowing bitcoin use indirectly .
So here chances of not to use bitcoin is only by the government ban is possible but itself bitcoin can't go die .

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February 10, 2017, 08:01:48 AM
 #52

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

First will be a global shutdown of Internet which will affect the existence of Bitcoin or other blockchain technology network and cause a global blackout of all cryptocurrencies. Secondly I think it can die due to an agreement for global legalization of the technology which some world leaders think is a threat to their local fiats.

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February 10, 2017, 08:06:49 AM
 #53

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
The biggest problem is legality of BTC, we can see how this impact BTC price over and over again.
Every time Bitcoin reach $1000 PBoC starts their investigation, effectively preventing price to go higher.
Now imagine that they would declare bitcoin illegal asset and other major players would follow: USA, Russia, UK, EU.
And at the same time bitcoin would be tear by internal problems, scaling debate, rising fees, network spam attacks.

Combine these factors add some drama and FUD and you will pretty much will have scenario in which bitcoin would die.

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February 10, 2017, 08:17:09 AM
 #54

I think if there are many people use super computers on their home and office
will make damage bitcoin's network,
but it is still just my speculation and will not happening right now because
super computers is very very expensive.
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February 10, 2017, 10:14:27 AM
 #55

every day bitcoin get a lot of companies, investors and new communities for bitcoin, so in my opinion it was not going to die unless satoshi really alive and back Tongue
By that line you actually meant that their are many users in the world that accept bitcoins in the world and it could never end
If bitcoin would have got so many companies then why wouldn't government legalise it ,
The only major companies that accept bitcoins are  Amazon,microsoft ,dell Expedia and steam
No other big companies are accepting payments in bitcoins , maybe in future they would see a great potential in bitcoins and would start accepting but as per now no one is accepting
In my opinion bitcoins can die
If United nation put a ban on transactions with BTC , then all the countries would have to put a ban on them
If the fluctuation of value increases with a high rate then they will have to shut BTC
If people lose their interest in investing in bitcoins and start using other crypto currency then it can happen


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February 10, 2017, 10:24:56 AM
 #56

I think if there are many people use super computers on their home and office
will damage bitcoin's network,
but it is still just my speculation and will not happening right now because
super computers is very very expensive.
People use high specification computers based on their needs. This is not gonna make the bitcoin network get collapsed. Those computers when used for the bitcoin mining, more growth can be experienced. The system failure happens if all countries unite to oppose bitcoin, which won't happen at all.

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February 10, 2017, 10:34:24 AM
 #57

I think the only situation that bitcoin can die is if people would just hodl it and don't spend it. People just hodl because they wait for a high price of their bitcoin. But if nothing circulates in the market how can it increase its value. Bitcoin will slowly die because of that.Another possibility is it can die if something will be created that is more superior than bitcoin. No one can tell what the future will be.
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February 10, 2017, 10:41:22 AM
 #58

we would consider bitcoin is death when we will not be able to use the technology. this stage could be achieved by increasing those spam transaction which we can see on the on blockchain that daily there are over 50000 and 60000 unconfirmed transaction and if this number could be increased by about 10times then people would have to pay very very higher fees and would stop using the technology and may be someone will choose to use another currency like doge coin eth coin etc.
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February 10, 2017, 10:54:25 AM
 #59

I think if there are many people use super computers on their home and office
will damage bitcoin's network,
but it is still just my speculation and will not happening right now because
super computers is very very expensive.
People use high specification computers based on their needs. This is not gonna make the bitcoin network get collapsed. Those computers when used for the bitcoin mining, more growth can be experienced. The system failure happens if all countries unite to oppose bitcoin, which won't happen at all.
You are right people use high specification computers based on their needs at least for today
but if super computers is very cheap will many people buy it just for computing daily,
we can imagine all of people use super computers what's will happening with bitcoin's network.
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February 10, 2017, 11:07:24 AM
 #60

when all government will ban bitcoin then that might be the last day of the great technology. As you had mentioned that if bitcoin will die because of prise hike but price hike will not affect the technology and there will be a time when bitcoin will be counted in terms of satoshi not bitcoin
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