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Author Topic: In what situation would Bitcoin die?  (Read 95678 times)
mr.mister
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March 22, 2017, 11:47:27 PM

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


There are too many scenarios in which bitcoin or any valuable asset could die for that matter.  I think right now the biggest threat to bitcoin is bitmain.

Now that Bitmain is signaling SegWit on LTC, they need to do the same for BTC
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March 23, 2017, 01:01:57 AM

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

Support from the community, if the community will stop using bitcoin at all then no sense now of it's existence. Bitcoin exchanges will now have a ghost volumes since no active traders at all, merchants that accepts bitcoin will remove bitcoin as one of their payment method, Bitcointalk forum will become a ghost forum and many more.

Good thing no such thing like that will happen to bitcoin so long live. Others alts already suffered that less support from the community resulting to a dying coin/s.
I agree the bitcoin is just like an item on a store , the production of bitcoin depends on the demand of the people so if people will stop on supporting the bitcoin no doubt that bitcoin will probably die in the sense of no opportunities and no changes will go on. So if the community especially the people who uses bitcoin on the daily basis will stop on using bitcoin the demand will go down and the price or value will drop also resulting for businesses on closing to accept bitcoin. So no progress will going to happen just like becoming dead.



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March 23, 2017, 01:19:10 AM

I think the popularity and effectiveness which will make bitcoin survive into a digital currency. besides bitcoin also have to tackle the problem of delay in delivery occurring for some time.


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March 23, 2017, 01:54:34 AM

We, the user of bitcoin will not let it die.
We support bitcoin until it publish as world currency. No.matter how.many problems it takes we gonna fight for it and unite to lift bitcoin up.

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March 23, 2017, 03:04:05 AM

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



Transaction and Electricity will not make bitcoin die. There are lots of problems about the transaction of bitcoin getting slower and slower thanks to the people who spam transactions.
Electricity? well it is correct, but I think there will be no electrical problems here. Bills will be a problem but electricity itself?  no.

Ok but the issue with the high transaction fees could be a treat/problem because this will not impress common man the adoption of bitcoin and if you check the price per bitcoin now is at $1029. I guess this is because of the transaction fees and coinbase were thinking of stopping the act of no transaction fee.

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March 23, 2017, 04:09:47 AM

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 Bitcoin will dead if every country decides to ban Bitcoin permanently,then,no demand, no users, no transactions. This is the most direct reason.Of course, I don't want this day to come.


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March 23, 2017, 04:40:57 AM

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

How and why would the end of bitcoin (and any other cryptocurrency) occur?
If all their price value will crash down to zero value, and their users will disappear, lastly if all traders in crypto world will also be gone, I think that's how they're gonna die.

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March 23, 2017, 04:41:50 AM

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 Bitcoin will dead if every country decides to ban Bitcoin permanently,then,no demand, no users, no transactions. This is the most direct reason.Of course, I don't want this day to come.


Yeah that is one of the worst thing if the bitcoin will ban in every country and ofcourse it would be dead if that happen, and also if the system of bitcoin would hack by someone, no one will do investment, no one will like to use it anymore but i do not think it would happen but there is a chance because we are on online.
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March 23, 2017, 04:43:05 AM

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
it will be possible to die if most of the countries banned the bitcoin .
But I don't think it will happen with Bitcoin Because with the use of bitcoin the people are earning money and increasing the economic level of the country in which they are living .

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March 23, 2017, 08:33:26 AM

I think BTC can not die, only change! It also has a lot of developers and many followers

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March 23, 2017, 08:51:50 AM

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 Bitcoin will dead if every country decides to ban Bitcoin permanently,then,no demand, no users, no transactions. This is the most direct reason.Of course, I don't want this day to come.

I really doubt that "every" country will decide to ban bitcoins permanently. There will always be a country that will choose to not follow the trend and decide by himself. Just think about it, if every single country has banned bitcoins except you, then all of the exchange sites will be based on your country. Thus, you will earn all of the tax that every country used to earn from exchange sites.

Let's say that hypothetically all countries decide to ban bitcoins. People will just do person-to-person trading and bitcoin will be seen as purely a black market. Seriously, tons of things are banned in this world but how come people are still doing it as if it's not against the law at all.


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March 23, 2017, 09:38:54 AM

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
It may happen due to quantum computing in future.But i hope security measures would be taken to solve such critical problems.I think it would take around 20 more years for quantum computing to come.

Theory about quantum computing destroying Bitcoin security has been a  worries for sometime now.  But technology is ever upgrading, I am sure that the developer team will prevent this thing to happen, the security will then be upgraded to resist or match the power of quantum computing.  The only thing that I can see Bitcoin die is if its network dies.



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March 23, 2017, 11:22:24 AM

Value decreases and legality issues it will not be the end of bitcoin. Very reasonable in bitcoin if value decreases because it fluctuates, it can even be utilized to get profit (by buying and holding to go up). If legality issues I believe each country has each policy, there must be supporting and banning. Bitcoin will die if all countries banned bitcoin but I think it will not happen because as I said before, it is impossible all countries banned bitcoin. Different technology maybe can replace it and make users leave bitcoin, so bitcoin will die slowly. But this will not happen if bitcoin can update their technology so that users will continue to be interested. I think basically bitcoin will die in situations when users have started not using it (either because there is a better or technology does not grow).
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March 23, 2017, 12:29:09 PM

lack of trust.
and if there is no internet then bitcoin is of no use so its the same as dead.
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March 23, 2017, 01:07:54 PM

lack of trust.
and if there is no internet then bitcoin is of no use so its the same as dead.
When the server or source file corrupted and it cannot be recovered. When the electricity gone, when the nuclear war breaks out. Those are things might happen.

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March 23, 2017, 01:26:41 PM

I think bitcoin would disappear if there's no people using it.
In that case, the price of bitcoin will permanently down.

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March 23, 2017, 01:29:20 PM

We, the user of bitcoin will not let it die.
We support bitcoin until it publish as world currency. No.matter how.many problems it takes we gonna fight for it and unite to lift bitcoin up.

That is true and I cannot question the loyalty of the bitcoin supporters to bitcoin. But the author does not question the loyalty of the bitcoin community rather he is asking for possible reasons and conditions that will endanger or threaten the value or worth of bitcoin. This is important since if we know beforehand the problems that might destroy bitcoin we can make some countermeasures so that bitcoin will not die.

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March 23, 2017, 03:57:54 PM

We, the user of bitcoin will not let it die.
We support bitcoin until it publish as world currency. No.matter how.many problems it takes we gonna fight for it and unite to lift bitcoin up.

That is true and I cannot question the loyalty of the bitcoin supporters to bitcoin. But the author does not question the loyalty of the bitcoin community rather he is asking for possible reasons and conditions that will endanger or threaten the value or worth of bitcoin. This is important since if we know beforehand the problems that might destroy bitcoin we can make some countermeasures so that bitcoin will not die.

I do agree with you guys that as a fellow Bitcoin enthusiast, we cannot just let Bitcoin die.  But OP is asking about the possibility reason that makes bitcoin deteriorates and die.  This is an important topic if we wanted to prevent the nemesis of Bitcoin by simply doing a counter measure as you said.  So learning this probable cause can really help us to maintain and keep Bitcoin alive and I think keeping the miner mining Bitcoin is one of it.



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posternat
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Activity: 686


MatrixCoin - Creating Bright Future Together


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March 23, 2017, 05:48:48 PM

I think the popularity and effectiveness which will make bitcoin survive into a digital currency. besides bitcoin also have to tackle the problem of delay in delivery occurring for some time.

The spirit of positiveness is in you, like me I do not think too much that bitcoin will gonna die or end. We should fight for it because it helps us alot and for good future of us. The delay of transaction is normal to this kind of business.


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TIDOVEE
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March 23, 2017, 06:08:54 PM

Bitcoin would stop if it is banned, or if there is not more internet. and better still if rapture happens.Lol

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