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Author Topic: In what situation would Bitcoin die?  (Read 94792 times)
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March 15, 2017, 12:04:13 PM
 #401

if all goverment from around the world is banned btc , mostly impossible
they say there are still alternative ways on how to use it but what if governments focus on it and really serious on banning btc, and prohibits it strictly like war on drugs in a country. So the use of it will be limited and no one will expose it publicly such as in social media.

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March 15, 2017, 12:08:25 PM
 #402

if all goverment from around the world is banned btc , mostly impossible
they say there are still alternative ways on how to use it but what if governments focus on it and really serious on banning btc, and prohibits it strictly like war on drugs in a country. So the use of it will be limited and no one will expose it publicly such as in social media.

It is not just about drugs to where bitcoin is being used. There is a lot more. Banning transaction that are dealing with bitcoin and another illegal item or activity wont really help. It will still go on in cash. They wont even minimize it because not everyone is using bitcoin.
Being forgotten will only be the reason for it to "die" (in OP's definition).

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March 15, 2017, 12:43:50 PM
 #403

This is a good read Smiley
Therefore I conclude, Bitcoin is far from dead.
Thank you for the confirmation
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March 15, 2017, 01:53:04 PM
 #404

if all goverment from around the world is banned btc , mostly impossible
Can you deny the fact that there are millions of drug addicts still living their lives in drugs in spite of the worldwide ban on these illegal substances? So illegalising bitcoin won't make bitcoin less used and eventually die out. From my perspective, bitcoin won't disappear that fast and if it did, it would be because a more advanced technology has taken bitcoin's place.

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March 15, 2017, 03:45:09 PM
 #405

if all goverment from around the world is banned btc , mostly impossible
Can you deny the fact that there are millions of drug addicts still living their lives in drugs in spite of the worldwide ban on these illegal substances? So illegalising bitcoin won't make bitcoin less used and eventually die out. From my perspective, bitcoin won't disappear that fast and if it did, it would be because a more advanced technology has taken bitcoin's place.

As long as the code is in there, and someone had a copy of it and know how it works then Bitcoin will never die.  But if no one is mining itthen that is the signal that bitcoin will start to die.  With millions of unconfirmed transactions.  Payment not reaching to the other end.  I am sure users will look for other means of payment.  Even traders will lose interest.  And if no one is willing to support the network or mine Bitcoin then it will eventually go to idle state.


     
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March 15, 2017, 04:21:44 PM
 #406

if all goverment from around the world is banned btc , mostly impossible
Can you deny the fact that there are millions of drug addicts still living their lives in drugs in spite of the worldwide ban on these illegal substances? So illegalising bitcoin won't make bitcoin less used and eventually die out. From my perspective, bitcoin won't disappear that fast and if it did, it would be because a more advanced technology has taken bitcoin's place.

As long as the code is in there, and someone had a copy of it and know how it works then Bitcoin will never die.  But if no one is mining itthen that is the signal that bitcoin will start to die.  With millions of unconfirmed transactions.  Payment not reaching to the other end.  I am sure users will look for other means of payment.  Even traders will lose interest.  And if no one is willing to support the network or mine Bitcoin then it will eventually go to idle state.

It's actually the other way around. The only time that no one's mining bitcoin anymore is when the whole thing is already broken and people have already moved on to another coin. Any other case will remain as a mystery as to why people has stopped mining bitcoins when they know that it's a precious coin.

Supposed that a huge part of the mining industry has stopped mining, other people will start mining by themselves. It's not that hard to set up a mining rig since all the information is available online.

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March 15, 2017, 04:25:42 PM
 #407

if all goverment from around the world is banned btc , mostly impossible
Can you deny the fact that there are millions of drug addicts still living their lives in drugs in spite of the worldwide ban on these illegal substances? So illegalising bitcoin won't make bitcoin less used and eventually die out. From my perspective, bitcoin won't disappear that fast and if it did, it would be because a more advanced technology has taken bitcoin's place.

As long as the code is in there, and someone had a copy of it and know how it works then Bitcoin will never die.  But if no one is mining itthen that is the signal that bitcoin will start to die.  With millions of unconfirmed transactions.  Payment not reaching to the other end.  I am sure users will look for other means of payment.  Even traders will lose interest.  And if no one is willing to support the network or mine Bitcoin then it will eventually go to idle state.

It's actually the other way around. The only time that no one's mining bitcoin anymore is when the whole thing is already broken and people have already moved on to another coin. Any other case will remain as a mystery as to why people has stopped mining bitcoins when they know that it's a precious coin.

Supposed that a huge part of the mining industry has stopped mining, other people will start mining by themselves. It's not that hard to set up a mining rig since all the information is available online.
and for sure if individual people knew about farmers already stop mining and the chances to get a block will be much bigger they will start mining using their own rig and take the chance to own some potion of a mine btc, its really hard to say now that this things still possible looking from the etf disapproval still value keep rising back up.

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March 15, 2017, 04:31:51 PM
 #408

I didn`t know there is so many ways that can lead to bitcoin death. I would not like to offend anyone here, but this is just guessing, at least most of the comments in this thread. Some things can or may happen, in case this or that happen before, that is imagination and I like facts, not just wild dreaming and sneaking suspicion that something may happen in years to come.
Bitcoin will not die, electricity can`t disappear in whole world, 3 WW will be just on some places, internet will work until the end of time, bitcoin will live, discussion is over.



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March 15, 2017, 04:38:07 PM
 #409

the only chance to btc die was the coin does not work anymore

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March 15, 2017, 04:59:11 PM
 #410

if all goverment from around the world is banned btc , mostly impossible
Can you deny the fact that there are millions of drug addicts still living their lives in drugs in spite of the worldwide ban on these illegal substances? So illegalising bitcoin won't make bitcoin less used and eventually die out. From my perspective, bitcoin won't disappear that fast and if it did, it would be because a more advanced technology has taken bitcoin's place.

As long as the code is in there, and someone had a copy of it and know how it works then Bitcoin will never die.  But if no one is mining itthen that is the signal that bitcoin will start to die.  With millions of unconfirmed transactions.  Payment not reaching to the other end.  I am sure users will look for other means of payment.  Even traders will lose interest.  And if no one is willing to support the network or mine Bitcoin then it will eventually go to idle state.

It's actually the other way around. The only time that no one's mining bitcoin anymore is when the whole thing is already broken and people have already moved on to another coin. Any other case will remain as a mystery as to why people has stopped mining bitcoins when they know that it's a precious coin.

Supposed that a huge part of the mining industry has stopped mining, other people will start mining by themselves. It's not that hard to set up a mining rig since all the information is available online.
and for sure if individual people knew about farmers already stop mining and the chances to get a block will be much bigger they will start mining using their own rig and take the chance to own some potion of a mine btc, its really hard to say now that this things still possible looking from the etf disapproval still value keep rising back up.

Most people (or at least the people I know) have expected that ETF will be disapproved because of all the issues that the government has with bitcoin. First of all, bitcoin was made to remove the government from being the third party of our transactions.

There's not much ETF hype except for the discussions that we have on different forums. There's not that much people that have invested in bitcoins because of the price increase that the ETF might give us when it is approved. I'm actually pretty glad that the ETF was disapproved but we still get the same price as before the decision was announced. It just proves how faithful people are to bitcoins enough to hold their coins despite the fact that bitcoin ETF got disapproved.

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NyeFee
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March 15, 2017, 07:39:15 PM
 #411

I didn`t know there is so many ways that can lead to bitcoin death. I would not like to offend anyone here, but this is just guessing, at least most of the comments in this thread. Some things can or may happen, in case this or that happen before, that is imagination and I like facts, not just wild dreaming and sneaking suspicion that something may happen in years to come.
Bitcoin will not die, electricity can`t disappear in whole world, 3 WW will be just on some places, internet will work until the end of time, bitcoin will live, discussion is over.
The main thing that users have not lost interest in bitcoin, and then all the other problems will cope. Judging by the rate of price growth, I do not think that they will let him fall.
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March 15, 2017, 07:53:24 PM
 #412

The end of any other crypto not named bitcoin can be very fast since the investors could just dump the coin and the confidence in the coin plummets, or the devs stop their work and run away with their money, but bitcoin is a lot stronger and I don’t see it dying fro any reason.



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March 16, 2017, 06:22:23 AM
 #413

if all goverment from around the world is banned btc , mostly impossible
they say there are still alternative ways on how to use it but what if governments focus on it and really serious on banning btc, and prohibits it strictly like war on drugs in a country. So the use of it will be limited and no one will expose it publicly such as in social media.

Yes, a serious banning of btc to a country will make it die, but then there were country that uses btc despite the government prohibit the countryman to use it, I knew some, they just use their coin to purchase outside their country.
The Government cant ban 100% as it can be purchase/Sell Online.

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March 16, 2017, 06:53:47 AM
 #414

The end of any other crypto not named bitcoin can be very fast since the investors could just dump the coin and the confidence in the coin plummets, or the devs stop their work and run away with their money, but bitcoin is a lot stronger and I don’t see it dying fro any reason.
the project was too great to be abandoned , that was not reasonable.

bitcoin user has been spread around the world , no matter how much investor dump bitcoin it will not affected too much. the other investor ready to pump it back. the only concern i have are when bitcoin required internet access , then when no internet then no bitcoin transaction , means it is dead.

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March 16, 2017, 08:41:00 AM
 #415

As a user who can, has, and does use Bitcoin for 'speculation and profiteering', criminalization would suck.  For someone who is already a criminal the suckage is much less.  Even between these two classes there are areas of overlap.  The set of things I am interested in include, for instance, certain kinds of equipment.  Say, an airplane.  A drug-runner has a different set of interests but an airplane is in many cases one of these.  The upshot is that there will always be this overlap between the black market and the mainstream.  Bitcoin could easily help in this such transactions due to it's historic acceptance and usability.  If not Bitcoin than something else.

In any environment the value of the currency will be largely associated with 'velocity' an 'propensity to hodl' (Satoshi having simplified the currency base part of the equation in the design phase.)  The reality of black markets is such that we are probably at a tiny fraction of where Bitcion _could_ be in fiat denominated terms.  Bitcoin is eminently 'hodleable' and the value flows within black (or simply non-mainstream) markets are huge. 
That is true, bitcoin has been used by the black-market dealers since its appearance due to the fact that its nature allows the user to stay hidden from any tracking or any laws, because it is not being controlled by any government, and that what makes us think that the amount of bitcoin that is pumped into it is far from being equal to the bitcoin spend in the mainstream.

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March 16, 2017, 10:59:23 AM
 #416

if all goverment from around the world is banned btc , mostly impossible
nope, we keep user btc, if this happend only will make the price goes to Sky

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March 16, 2017, 11:01:55 AM
 #417

if all goverment from around the world is banned btc , mostly impossible
nope, we keep user btc, if this happend only will make the price goes to Sky

Used in one form or another, whether it is illegal or not

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March 16, 2017, 11:03:16 AM
 #418

I also think that in this case it would be a more coveted currency

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March 16, 2017, 08:58:19 PM
 #419

The end of any other crypto not named bitcoin can be very fast since the investors could just dump the coin and the confidence in the coin plummets, or the devs stop their work and run away with their money, but bitcoin is a lot stronger and I don’t see it dying fro any reason.
the project was too great to be abandoned , that was not reasonable.

bitcoin user has been spread around the world , no matter how much investor dump bitcoin it will not affected too much. the other investor ready to pump it back. the only concern i have are when bitcoin required internet access , then when no internet then no bitcoin transaction , means it is dead.
That is my point, I was talking about the other crypto currencies, because those alts don't have the level of investment and awareness that bitcoin has, so they can disappear very easily even if things seemed to be doing well for the coin and the developers.



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Rainbot
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March 17, 2017, 01:40:12 PM
 #420

If the transactions will be slower and slower and if that happens then it means that the miners are getting few and the foundation of the network will be weaker and weaker and that will be the start for bitcoin to die because there nothing who supports bitcoin and maybe bitcoin users will transfer to another and better coin.
Yeah. You're right but it not only if the transaction are slower could make bitcoin die. Electricity is the main thing that could quench bitcoin because almost every part of the crypto currency world base on electricity including the block chain either



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