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Author Topic: In what situation would Bitcoin die?  (Read 99849 times)
webtricks
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February 10, 2017, 11:25:40 AM
 #61

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
Three very likely reasons you mentioned. I will comment on them one by one.
 Value Decrease - I don't think value decrease can be a reason for Bitcoin end. Bitcoin has history which shows downfall from $1100 to $300 and again rise to $1100 so its not major reason.
Legal issue- yeah, this one can be a prominent one but only if occur on large scale. If more than 100 of countries ban its use and make strict law against its usage then Bitcoin may come to end. But there is no major issue at present with Bitcoin which can enmark its ban.
Advance Technology- Evolution is rule of life. Everything exists is meant to be evolved in something better in future. But at present, this is not big threat to bitcoin end since we all regard "Cryptocurrency the future of currency". This statement on its own declare there is much left for cryptos.


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February 10, 2017, 11:37:16 AM
 #62

Till now i don't fin any situation of ban a bitcoin, there are some countries who ban bitcoin because they think it will effect economical situation may become very worst if they bitcoin. But governments are indirectly giving permission to local exchange people and at the same time government are passing be alert with bitcoin to people.

In this case i don't see any option to ban a bitcoin, soon government will get stream line instruction for people who are using bitcoin and in what they can use governments will provide instruction to people very soon.
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February 10, 2017, 12:23:52 PM
 #63

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

Total global rejection of Bitcoin is one thing that can get Bitcoin on its knees but I doubt if they can achieve it because that can lead to massive value decrease. There can also be legal issues like you said but which jurisdiction are they going to fight it? That's also not feasible. A new technology can supersede it though due to flaws/weaknesses as we head into the future of cryptocurrency.



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February 10, 2017, 12:35:05 PM
 #64

I think the continues transaction size increase and the continues miners fee increase will be the issue that can be bitcoin gradually die..
Since most of the bitcoin users are use bitcoin because of low fee for transfering money to other wallet or sending money to other country..
If the fee would be increase more it can affect the life of bitcoin..

       


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February 10, 2017, 01:12:42 PM
 #65

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 when Bitcoin loses value dramatically it can affect its interest amongst the whole world and people will abandon it for perhaps a better technology or something like that. I doubt if legal issues can down it though because every country has its own laws and Bitcoin is worldwide.



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February 10, 2017, 01:18:44 PM
 #66

No internet = No bitcoins.

Cutting off the internet would definitely kill bitcoin. But you shouldn't worry about that anyway because no internet also means absolute destruction.

Other than that, there isn't much left to do in order to kill bitcoin. The Govs can ban bitcoin, can throw btc users to jail, it won't be enough. Volume and prices may drop dramatically but it will still live and people will still use it.

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February 10, 2017, 01:21:56 PM
 #67

in any situation bitcoin would die, if every users have not using it anymore or rather sell all of their bitcoin, but I think a percentage of it will still be functional if this situation occur, but the thing that could erase bitcoin entirely in the planet are the end of the world perhaps or a super solar flare that occur on the surface of the sun hitting our earth I think it will burn out all communication, technology, even the internet that would be the end of bitcoin and the end of the era of technology itself.

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February 10, 2017, 01:40:02 PM
 #68

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

Legality issues?


Yes, it can be this one and also because no one would like to use bitcoin anymore because it is illegal, though the possibility that bitcoin would become illegal is very low, but in case that this will happens in the future, then I guess that it will die. If the government will declare someday that anyone that will use bitcoin even though they already know that this is illegal, they will get arrested and will be in jail for 20 years minimum, well this is a serious matter that is why I'm sure that no one will oppose to this law, and it will be the disease of bitcoin, causing it to die slowly day by day.

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February 10, 2017, 01:43:52 PM
 #69

When people will stop using bitcoin , this currency will stop.
Even this happens with any other company.
When it users decreases they suffer a loss due to which they have to stop their company.
But bitcoin user won't reduce as it is a currency , crypto currency , which is getting popular day by day.
Also it is very easy to use. Nowadays it has been used widely on Steam. Many people invest in bitcoin as well

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February 10, 2017, 01:55:39 PM
 #70

For me, Bitcoin will die if the supply is maxed out and the only thing that going on in the market is manipulation and after that happens and majority of the users already notice that manipulation then that will be time for the users to abandon bitcoin and find the best or very close like bitcoin cryptocurrency which they can use to earn stable profit unlike in bitcoin.

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February 10, 2017, 02:01:30 PM
 #71

The thing which will damage bitcoin is its not much use if people will not use bitcoin for their daily use then none of the company will feel its adoption as their payment system and so the opportunities and benefits of it will reduce and then a drop of bitcoin will start.

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February 10, 2017, 02:08:00 PM
 #72

Bitcoin will die and become no value if there is no demand, when people not using bitcoin anymore and there is no transaction volume, then bitcoin will become no value and people will stop accepting bitcoin as money, but bitcoin will not die if the country banned it, as long as there are people using it bitcoin will keep on survive

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February 10, 2017, 02:09:12 PM
 #73

No internet = No bitcoins.
You sure ? Let me explain to you in the next part of this post.

Cutting off the internet would definitely kill bitcoin. But you shouldn't worry about that anyway because no internet also means absolute destruction.
Well,I'm not sure of other destruction but Bitcoins can technically still function without internet.A little compromises but here's the solution I would propose.
An organization or say a neighbourhood can run an intranet with one separate chain for transactions.Yes,they won't be able to process transactions outside of that network but bitcoin can still function.


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February 10, 2017, 02:17:12 PM
 #74

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
I bet to disagree but I don't think Bitcoin will die because many people are dependent on it and it was a techonology that people want , so if you want something why would you let it die ! bitcoin will just die if Bitcoin users will stop using their Bitcoin and will consider it just a try ! now it is impossible to happen so I believe in the near future it will not happen also

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February 10, 2017, 02:42:56 PM
 #75

Bitcoin will die one day if :
1. no internet connection available around the globe
2. a cow is worth than >100 bitcoins because on that day people will just think about survive (eat something, not money)
3. when all people die or judgement day.


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February 10, 2017, 02:49:21 PM
 #76

I think banning of bitcoin on each state can make bitcoin die/ imagine if every government bans bitcoin and put a sentence who will use it bitcoin , maybe people will stop using it. But I'm sure deepweb will surely be accessible and we can use bitcoin their. But the thing is you cant make it cash because the government bans the exchanges.

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February 10, 2017, 02:54:29 PM
 #77

I don't think we'll see when Bitcoin dies because that day is far far away. Only if new technology which is better than internet come people will find new money. In fact technology will be more powerful that people don't even need money, that day Bitcoin would be obsolete. I love quoting Satoshi and this is one of my favorites, like he said: "I'm sure that in 20 years there will either be very large transaction volume or no volume." We're going ahead of former saying as reality.

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February 10, 2017, 03:02:39 PM
 #78

I can see Bitcoin die if it value goes to zero and it become just the other alcoin out their who are abandoned and no value ! but I can't imagine in myself that it will happen so for me its very imposibble that Bitcoin will die because many are benefiting on it all over the globe including me
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February 10, 2017, 03:08:08 PM
 #79

I can see Bitcoin die if it value goes to zero and it become just the other alcoin out their who are abandoned and no value ! but I can't imagine in myself that it will happen so for me its very imposibble that Bitcoin will die because many are benefiting on it all over the globe including me
As of now your are getting benefits on bitcoin but the day will come and your earnings or possible earnings will be zero, remember that the supply of bitcoin is limited and there are many chinese people who can play the market and manipulate it for their self reasons.

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February 10, 2017, 03:18:05 PM
 #80

When people will stop using bitcoin , this currency will stop.
Even this happens with any other company.
When it users decreases they suffer a loss due to which they have to stop their company.
But bitcoin user won't reduce as it is a currency , crypto currency , which is getting popular day by day.
Also it is very easy to use. Nowadays it has been used widely on Steam. Many people invest in bitcoin as well

Yes that is very logical. But what scenario why people will stop using bitcoin? For a bitcoin will die if a catastrophe will happen destroying our power lines ,computers and electronic gadgets. Wherein we are reduced to stone age like nuclear ware etc Sad

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