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Author Topic: In what situation would Bitcoin die?  (Read 95990 times)
kreskko
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April 04, 2017, 10:41:11 AM
 #601

I dont think that bitcoin will just one day die, imo if it was going to happen it would be a slow descent into irrelevance or into a very niche area only used by a handful of people like in the beginning.

You are right, bitcoin can not die suddenly. He just will one day cease to exist from the fact that something new will be invented. But it will not happen soon
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April 04, 2017, 10:52:49 AM
 #602

only when all the government bodies rejects virtual currency
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April 04, 2017, 11:45:00 AM
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There are many ways on how bitcoins and other cryptocurrency may end and be die.One of the biggest threats is data base shut down or unexpected huge error on the network.Also demand problems will do a big problem too.I think legality issues will not affect  bitcoins and other cryptocurrency.

Database error, sure. Because that's how other systems go down. But bitcoin is different. It's decentralized. There will be no "unexpected huge error" in the network as it is constructed perfectly. Legality issues surely will not affect bitcoins because they didn't go that way. They didn't ask permission from the government or whatever.

Where did you even gets these ideas? You just thought of it yourself? Then you don't know what bitcoin really is. If you read this from some article, read below the whole thing because it might be just some April Fool's post once again. Or some troll just told you this. Everytime you read something, I suggest that you do a quick google search to confirm it before believing that it's real.

Well, most of them out there are just making their own stories about bitcoin even though they are not quite sure about what they are saying, what does matter to them is they could easily add it to their post count even though it is like a "Spam" post. So, what you have said is true that bitcoin won't just go down easily like that, and since it is decentralized Government is out of the story.

Bitcoin could live on its own without the support of the Government, for example here is the Bitcoin ETF that has been rejected by the SEC this last month, it was March 12, if I'm not mistaken, though it affects on the bitcoins price a little bit, also add this Hard fork thing which caused the bitcoins price experienced a huge price drop, but right now, it is skyrocketing again, and let's just hope that it will continue on rising above.

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April 04, 2017, 11:55:03 AM
 #604

I dont think that bitcoin will just one day die, imo if it was going to happen it would be a slow descent into irrelevance or into a very niche area only used by a handful of people like in the beginning.

You are right, bitcoin can not die suddenly. He just will one day cease to exist from the fact that something new will be invented. But it will not happen soon

Bitcoin will die only people are not using it, now many people are using bitcoin in their daily. In coming days bitcoin purchases will increase drastically so there are fewer chances that bitcoin will not die until people stops using it.


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April 04, 2017, 12:08:19 PM
 #605

I think Bitcoin will Dead BTC

If every country Government Banned Local Exchanges from Accepting Deposits.
Then, there will be no more people using Bitcoin because they might be arrested in this condition.

If there are a new cryptocurrency which is more profitable, and Government Approved Legally In the future.
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April 04, 2017, 12:41:36 PM
 #606

I dont think that bitcoin will just one day die, imo if it was going to happen it would be a slow descent into irrelevance or into a very niche area only used by a handful of people like in the beginning.
416/5000
it will not happen in the near future. especially bitcoin is currently in the developing phase. so I think bitcoin will last a long time because there was at its peak

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April 04, 2017, 12:50:04 PM
 #607

I think Bitcoin will Dead BTC

If every country Government Banned Local Exchanges from Accepting Deposits.
Then, there will be no more people using Bitcoin because they might be arrested in this condition.

If there are a new cryptocurrency which is more profitable, and Government Approved Legally In the future.
I agree with your first statement but I don't like it to happen, the online users will protest and make a petition. On your second thought, its impossible because how can we trust a new coin if it is not yet well establish unlike bitcoin that already running for a long years even bitcoin is not approve by the government legally, they can't easily destroy it.

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April 04, 2017, 01:19:32 PM
 #608

The key is the trust of users, when all users believe with bitcoin then bitcoin never die. Anonymous issue should be completed so there's no reason the Government prohibits bitcoin.
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April 04, 2017, 06:22:03 PM
 #609

I think Bitcoin will Dead BTC

If every country Government Banned Local Exchanges from Accepting Deposits.
Then, there will be no more people using Bitcoin because they might be arrested in this condition.

If there are a new cryptocurrency which is more profitable, and Government Approved Legally In the future.
I agree with your first statement but I don't like it to happen, the online users will protest and make a petition. On your second thought, its impossible because how can we trust a new coin if it is not yet well establish unlike bitcoin that already running for a long years even bitcoin is not approve by the government legally, they can't easily destroy it.
There is no doubt about the probability that bitcoin might die even the chances is too low, as of now there is so many cryptocurrencies that might be a substitude for bitcoin. But bitcoin has already does things first and because of that its demand dramatically increases, right now there is low chance that bitcoin can die, it is a perfect cryptocurrency and there no way that another cryptocurrency that surpass what bitcoin already have now.

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April 04, 2017, 07:58:07 PM
 #610

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
as long as many user use bitcoin to buy and accepting for their product i think end of bitcoin will not come
we can only say its the end when bitcoin stop working properly

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April 05, 2017, 02:48:49 PM
 #611

There are many ways on how bitcoins and other cryptocurrency may end and be die.One of the biggest threats is data base shut down or unexpected huge error on the network.Also demand problems will do a big problem too.I think legality issues will not affect  bitcoins and other cryptocurrency.
Bitcoin does not use a database but the blockchain to keep a record of the transactions and since many people have a full copy of the blockchain then losing that is very hard also, I’m sure governments have done their best to look for mistakes to exploit and they have not found any.



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April 05, 2017, 03:35:42 PM
 #612

only when all the government bodies rejects virtual currency


They already did, when they rejected the bitcoin ETF, but since the bitcoin is decentralized, it is still here in the crypto world alive and kicking, and the Government can't complain about that. They could banned it in a certain country, but since the bitcoin is anonymous, anyone could still use it even though it is banned from their country.

And banning it in the whole world? I don't think so, because it is like they are going to start a war between us, bitcoin users all around the globe. Bitcoins population won't allow such thing to happen especially those early adopters.


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April 05, 2017, 03:46:58 PM
 #613

There are many ways on how bitcoins and other cryptocurrency may end and be die.One of the biggest threats is data base shut down or unexpected huge error on the network.Also demand problems will do a big problem too.I think legality issues will not affect  bitcoins and other cryptocurrency.

What you mean, do find official thread or announcement about the block chain database gonna close. These kind of trolling threads always speaks about bitcoin dead or price dump and etc..
Bitcoin is always fluctuatations but being stable and increasing every year with the recent amount.

This is really funny. How can a blockchain  database be closed. It has been replicated on million on servers worldwide and it cannot be erased. The only situation i think can be tough for bitcoin if the blockchain block size issue remain unresolved for a longer period of time, due to we have confirmation delay issues these days.
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April 05, 2017, 03:58:59 PM
 #614

only when all the government bodies rejects virtual currency


True. That is one way. Banning it in every country which is impossible now. Thanks to Japan.
You will just have to go there and your bitcoins are welcome.
That is just one country for now who seemed to accept it pretty well and it will make a great impact to other countries seeing Japan is open to that kind of industry even if they are already a rich one.
Now with that there is no more reason to think it will die.

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April 05, 2017, 04:08:41 PM
 #615

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

Theoretically from the legislation which can impede its further development or use. But practically only the die of life itself. Bitcoin (as a peer to peer product) is the next and the most developed step actually in the world of technology. The impact of the technology behind it will have a tremendous impact at the entire life of the human being.
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April 05, 2017, 04:44:54 PM
 #616

The key is the trust of users, when all users believe with bitcoin then bitcoin never die. Anonymous issue should be completed so there's no reason the Government prohibits bitcoin.
You are right, bitcoin never die if people still trust it . because the power of this cryptocurrency is the peoples who use it. this factor play a big role for bitcoin life. I think the only situation that would ban bitcoin is when all the government  rejects virtual currencys.

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April 05, 2017, 08:22:45 PM
 #617

I think Bitcoin will dead if every country decides to ban Bitcoin permanently. Then, there will be no more people using Bitcoin because they might be arrested in this condition. And bitcoin can also be dead if there are a new cryptocurrency which is more profitable, more advance and can fix most of the bug of bitcoin. In the future, there will be more cryptos qualifying these facors.

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April 06, 2017, 09:20:53 AM
 #618

I think Bitcoin will dead if every country decides to ban Bitcoin permanently. Then, there will be no more people using Bitcoin because they might be arrested in this condition. And bitcoin can also be dead if there are a new cryptocurrency which is more profitable, more advance and can fix most of the bug of bitcoin. In the future, there will be more cryptos qualifying these facors.

Not that people are going to stop using bitcoins, but they will just be more discreet about it. It will be just like online gambling that's banned in a lot of countries but people are still doing it. Even when a normal individual sees another guy gambling online, he doesn't care. It's not as if they are hurting somebody or harming themselves.

New cryptocurrencies are always more profitable, more advanced, and can fix the bugs of bitcoin. But none of them has replaced bitcoin. All these improvements wouldn't make people leave bitcoin and then migrate to the new coin. Although of course a lightning network with ping-time transactions will surely make people migrate. Other coins are just "slightly" better than bitcoins when it comes to transaction time and that's the issue most bitcoin users are having.


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April 06, 2017, 10:42:51 AM
 #619

I think Bitcoin will dead if every country decides to ban Bitcoin permanently. Then, there will be no more people using Bitcoin because they might be arrested in this condition. And bitcoin can also be dead if there are a new cryptocurrency which is more profitable, more advance and can fix most of the bug of bitcoin. In the future, there will be more cryptos qualifying these facors.
I don’t think that there will be another cryptocurrency that will be as popular as the bitcoin or will have the same price and the same growth that bitcoin has and had over the last few years.

The reason to that is, is that bitcoin was a new idea a new thing that everyone wanted to support and a lot of people wanted that idea to grow so they invested in it and seeing so many people interested in it that made people motivated to invest in it.

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April 06, 2017, 10:47:10 AM
 #620

The key is the trust of users, when all users believe with bitcoin then bitcoin never die. Anonymous issue should be completed so there's no reason the Government prohibits bitcoin.
You are right, bitcoin never die if people still trust it . because the power of this cryptocurrency is the peoples who use it. this factor play a big role for bitcoin life. I think the only situation that would ban bitcoin is when all the government  rejects virtual currencys.

IMO, only major disaster such like internet shut down that caused by major catastrophe ( massive earthquake , satelite being hit or broken ,etc )
and when people lost interest over bitcoin , it can happen really fast and in unexpected way

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