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Author Topic: In what situation would Bitcoin die?  (Read 94971 times)
choppork
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March 18, 2017, 08:54:35 AM
 #441

There are many different situations and aspects for bitcpin to die. First one when all bitcoins are mined :

I don't think when all bitcoins has been mined it's the end of bitcoin or it will die soon. The cycle will keep on going and bitcoin isn't going to die that way. Total amount of quantity of bitcoin will have a divide portion for the pricing of it and it will be distributed.
This interesting, when bitcoin has been mined of course there is no mining activity, as far as i know mining is needed to ensure fairness and for keeping the network safe and stable, for example prevent double spending. So the question is who will verify the transaction after all of the bitcoins has been mined, i just don't get it. As for me, i truly believe that law of supply and demand has an effect on bitcoin, bitcoin would die or not it depends on demand, if no one use or buy it then it would be die.

Even without the rewards, there will be people mining bitcoins just to continue the network running. Those people will mostly be those people that have invested enough money in here to worry about their investment going to waste just because no one's maintaining the network. I will not worry about it that much since I'm not going to be the only one affected by it. You can even mine yourself if you're so bothered.

We're far from that time so there's no point in problematizing the idea.
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March 18, 2017, 09:55:33 AM
 #442

bitcoin will die if internet connection is die too, because we can't access it without internet and it will die when people's find new future money which it's better than bitcoin, and more valuable from bitcoin,low fees and fast transaction
Right now the internet plays the key role in the digital money growth. Bitcoin dies if none is there to take bitcoin to the technology upliftment same as what's happening right now. Some other digital currency taking power over bitcoin will surely cause a negative impact on the growth but till 21 million gets mined no need to think about death.
Internet is the technology of the future. if the Internet is dead then the future will be threatened. so I think the internet will never die. Internet will continue to live as a major requirement of the human

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March 18, 2017, 01:27:56 PM
 #443

bitcoin will die if internet connection is die too, because we can't access it without internet and it will die when people's find new future money which it's better than bitcoin, and more valuable from bitcoin,low fees and fast transaction
Right now the internet plays the key role in the digital money growth. Bitcoin dies if none is there to take bitcoin to the technology upliftment same as what's happening right now. Some other digital currency taking power over bitcoin will surely cause a negative impact on the growth but till 21 million gets mined no need to think about death.
Internet is the technology of the future. if the Internet is dead then the future will be threatened. so I think the internet will never die. Internet will continue to live as a major requirement of the human

Of course internet would never die because we are in the information age, Internet is one of the things that we need to perform a certain task, because everything will become worthless, like the technologies that we have right now without the internet, and also bitcoin. Since it was made with the internet, I mean it will only work if there is an internet, so without the internet, there will also no bitcoin.

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March 18, 2017, 09:23:05 PM
 #444

I think bitcoin will die if everyone store it and will not use. Second is if no one use bitcoin and if not accepted in online shop.
I think what you say will be impossible. impossible all users will store all bitcoin them simultaneously. and seems to have a lot of stores that start accepting bitcoin now Cheesy
Yeah that is impossible, in fact the current price of any commodity is the agreement the sellers and the buyers have reached about the price of something, when there are more sellers then the price goes down, and when there are more buyers the price goes up.



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Rainbot
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March 18, 2017, 09:29:03 PM
 #445

I think bitcoin will die if everyone store it and will not use. Second is if no one use bitcoin and if not accepted in online shop.
I think what you say will be impossible. impossible all users will store all bitcoin them simultaneously. and seems to have a lot of stores that start accepting bitcoin now Cheesy
Yeah that is impossible, in fact the current price of any commodity is the agreement the sellers and the buyers have reached about the price of something, when there are more sellers then the price goes down, and when there are more buyers the price goes up.

The graph of bitcoins will depend on the law of demand and supply as if demand gets higher then it will directly help in taking price higher as we know that the supply of bitcoin is limited and it will be limited even in future but there is no limit for demand so you can expect much high price in future.


 
 
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bncbnc
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March 19, 2017, 06:48:30 AM
 #446

I think bitcoin will die if everyone store it and will not use. Second is if no one use bitcoin and if not accepted in online shop.
I think what you say will be impossible. impossible all users will store all bitcoin them simultaneously. and seems to have a lot of stores that start accepting bitcoin now Cheesy
Yeah that is impossible, in fact the current price of any commodity is the agreement the sellers and the buyers have reached about the price of something, when there are more sellers then the price goes down, and when there are more buyers the price goes up.

The graph of bitcoins will depend on the law of demand and supply as if demand gets higher then it will directly help in taking price higher as we know that the supply of bitcoin is limited and it will be limited even in future but there is no limit for demand so you can expect much high price in future.
yes that is right to say that demand and supply is main reason of bitcoin price increase and decrease. if the demand is increasing then supply will decrease and therefore the price of bitcoin will also increase.

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raven7886
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March 19, 2017, 08:15:34 AM
 #447

if all goverment from around the world is banned btc , mostly impossible
yes i do not think that a single country is going to bane bitcoin because bitcoin is now so much popular that government is now compel to make bitcoin legalize.
You can not know whether a person is using Bitcoin or not because Satoshi developed the blockchain and the anonymity for it. Therefore, if the government ban Bitcoin, the people still know how to use it without being arrested
That is true, as long as bitcoin is not banned worldwide people will still use it without getting into trouble, however some jurisdictions like in Russia and Argentina severely restrict or ban foreign currencies, and in others like in Thailand limit the licensing of certain entities such as Bitcoin exchanges, which means even if you manage to use bitcoin in those countries and exchange it to fiat you will be breaking the law, and imagine if that was worldwide it will be a big hit to the knee for the bitcoin.














 

 

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March 19, 2017, 10:38:06 AM
 #448

if all goverment from around the world is banned btc , mostly impossible
yes i do not think that a single country is going to bane bitcoin because bitcoin is now so much popular that government is now compel to make bitcoin legalize.
You can not know whether a person is using Bitcoin or not because Satoshi developed the blockchain and the anonymity for it. Therefore, if the government ban Bitcoin, the people still know how to use it without being arrested
That is true, as long as bitcoin is not banned worldwide people will still use it without getting into trouble, however some jurisdictions like in Russia and Argentina severely restrict or ban foreign currencies, and in others like in Thailand limit the licensing of certain entities such as Bitcoin exchanges, which means even if you manage to use bitcoin in those countries and exchange it to fiat you will be breaking the law, and imagine if that was worldwide it will be a big hit to the knee for the bitcoin.
But it still wouldn't "die" in that case, as long as a single node exists to host the network it'll stay alive. It's like TPB, doesn't matter if it's banned
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March 21, 2017, 08:35:44 PM
 #449

I think bitcoin will die if everyone store it and will not use. Second is if no one use bitcoin and if not accepted in online shop.
I think what you say will be impossible. impossible all users will store all bitcoin them simultaneously. and seems to have a lot of stores that start accepting bitcoin now Cheesy
Yeah that is impossible, in fact the current price of any commodity is the agreement the sellers and the buyers have reached about the price of something, when there are more sellers then the price goes down, and when there are more buyers the price goes up.

The graph of bitcoins will depend on the law of demand and supply as if demand gets higher then it will directly help in taking price higher as we know that the supply of bitcoin is limited and it will be limited even in future but there is no limit for demand so you can expect much high price in future.
In fact, there is a limit for demand but we have not touched it yet, there are several limits for demand, like the number of people on the planet, the number of business, or the number of fiat circulating in the world, so there is a limit for demand too.



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March 21, 2017, 08:49:08 PM
 #450

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
Bitcoin is a digital currency eventually will die without its value, without value, just mean it has no users and demand, which means it is dead. I think it will be not having a value anymore because the peolle will be having a problem with it, the transactions, the blockchain. But I think bitcoin will not die because there are so many people who trusts this digital currency.


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March 21, 2017, 09:00:46 PM
 #451

bitcoin will die if internet connection is die too, because we can't access it without internet and it will die when people's find new future money which it's better than bitcoin, and more valuable from bitcoin,low fees and fast transaction
Right now the internet plays the key role in the digital money growth. Bitcoin dies if none is there to take bitcoin to the technology upliftment same as what's happening right now. Some other digital currency taking power over bitcoin will surely cause a negative impact on the growth but till 21 million gets mined no need to think about death.
Internet is the technology of the future. if the Internet is dead then the future will be threatened. so I think the internet will never die. Internet will continue to live as a major requirement of the human

Of course internet would never die because we are in the information age, Internet is one of the things that we need to perform a certain task, because everything will become worthless, like the technologies that we have right now without the internet, and also bitcoin. Since it was made with the internet, I mean it will only work if there is an internet, so without the internet, there will also no bitcoin.
NO one can say for sure what will happen in future but if some better coin develop ,then it can replace bitcoin and bitcoin would be dead.Technology has very short life and with time it keep changing.Bitcoin is also a technology and it won't remain forever without change or improvement.
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March 21, 2017, 09:14:10 PM
 #452

if one day the us and china  government decide to not accept their citizen using  bitcoin then it will be the end of bitcoin.

or for exemple if they start to associate bitcoin with terroism..

i wish bitcoin never end Smiley Smiley Smiley
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March 22, 2017, 03:42:06 AM
 #453

In the mean time, Bitcoin is the most popular Cryptocurrency. We all know that through time everything fades and I think Bitcoin will die in the following reasons.

If a natural phenomenon happens, causing all countries to be in the state of calamity where 80% of worlds telecommunications will be destroyed. Bitcoin is using the internet as it's highway, the run will stop when the runway is destroyed.

Conflicts between nations that will result in war. Through advanced weaponry, massive destruction will happen if a world war occurs causing billions of people to die. Bitcoin will die if it has no user.

A better Cryptocurrency will born. We all know that bitcoin has many competitive rivals. Bitcoin will lost its value if people will turn to another Cryptocurrency.


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March 22, 2017, 08:28:58 AM
 #454

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
Bitcoin is a digital currency eventually will die without its value, without value, just mean it has no users and demand, which means it is dead. I think it will be not having a value anymore because the peolle will be having a problem with it, the transactions, the blockchain. But I think bitcoin will not die because there are so many people who trusts this digital currency.
We the users are the reason why bitcoin is successful now and we can also be the reason if bitcoin will die. As long as we continue supporting, it will always be there but the moment we are discourage from using bitcoin due to some legal implication we might face, we will lose the interest of using it to keep ourselves safe.

Other possibilities also are when there's an altcoin that will attract more investors and supporters than bitcoin, for sure it will leave bitcoin to be worthless. Those are just possibilities actually but I think bitcoin is a very strong to be able to be replace by something new.

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March 22, 2017, 11:11:49 AM
 #455

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
Bitcoin is a digital currency eventually will die without its value, without value, just mean it has no users and demand, which means it is dead. I think it will be not having a value anymore because the peolle will be having a problem with it, the transactions, the blockchain. But I think bitcoin will not die because there are so many people who trusts this digital currency.
We the users are the reason why bitcoin is successful now and we can also be the reason if bitcoin will die. As long as we continue supporting, it will always be there but the moment we are discourage from using bitcoin due to some legal implication we might face, we will lose the interest of using it to keep ourselves safe.

Other possibilities also are when there's an altcoin that will attract more investors and supporters than bitcoin, for sure it will leave bitcoin to be worthless. Those are just possibilities actually but I think bitcoin is a very strong to be able to be replace by something new.

I don't think that I, as a user, matter at all in the bitcoin world. The whole thing can go on without me and you. So is the bitcoin's life. The ones that matter the most are the whales. If they team up and dump the whole market and move to a different coin, then we're all doomed. The only thing we can do is follow the crowd and sell our coins. This is the exact reason why people panic sell. They think that whales are selling and so they also should.

Although we are the most important factor, the users, as an individual we don't matter that much. We matter as a whole.


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March 22, 2017, 11:44:39 AM
 #456

if one day the us and china  government decide to not accept their citizen using  bitcoin then it will be the end of bitcoin.

or for exemple if they start to associate bitcoin with terroism..

i wish bitcoin never end Smiley Smiley Smiley

if this is really happen, i am sure that bitcoin user will find a way to still using bitcoin and somehow i am sure we will found it. bitcoin will die if there is no one will use bitcoin for any of reason and just abandon bitcoin in the dark room but as long as there is a light for bitcoin even for small light, then i am sure bitcoin will be exist for a long time.

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March 22, 2017, 11:59:23 AM
 #457

if one day the us and china  government decide to not accept their citizen using  bitcoin then it will be the end of bitcoin.

or for exemple if they start to associate bitcoin with terroism..

i wish bitcoin never end Smiley Smiley Smiley

Whether they decide to accept it or not it's irrelevant for Bitcoin's existence. There are many other countries people of which will continue to use BTC. Negative attitude to Bitcoin from any government will result only their citizens to suffer from it, all the other people will be okay and bitcoin will definitely not die.

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March 22, 2017, 12:50:32 PM
 #458

when people stop using it
it is one of them. but of course there are other reasons why bitcoin users do not use anymore?
perhaps because of increasing problems on bitcoin, and bitcoin then present competitors from more intense?
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March 22, 2017, 02:35:36 PM
 #459

when people stop using it
it is one of them. but of course there are other reasons why bitcoin users do not use anymore?
perhaps because of increasing problems on bitcoin, and bitcoin then present competitors from more intense?

Even people do not use Bitcoin as long as there is someone dedicated to mine the network, Bitcoin will not die.  To kill Bitcoin we need to stop the miners, transaction then will be left unconfirmed and the network will not move and stay idle.  With this, blockchain not moving will means Bitcoin had die.


     
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March 22, 2017, 02:43:46 PM
 #460

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 if no users will use bitcoin, no users would trust bitcoin, and no users would really appreciate on what can do bitcoin can give us (e.g., benefits, freedom). By any chance, it would also really possible that it would die if users would change what they prefer to use (bitcoin) to another cryptocurrency. But in my perception, i would never ever change in another cryptocurrency since bitcoin is the best cryptocurrency i've known in the market (among rest ).

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NEW EXCHANGE ZERO FEES[/center
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