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Author Topic: In what situation would Bitcoin die?  (Read 95992 times)
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April 06, 2017, 11:44:20 AM
 #621

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.
No it won't , noone can stop bitcoin to operated , bitcoin is decentralized.
Even when governments around the world unite to ban bitcoin together , it will just limiting bitcoin usage.
And sooner or later the bitcoin user will popping up back , bitcoin is uncontrolable.

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April 06, 2017, 12:15:35 PM
 #622

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.
because the user is the heart of bitcoin. without users there will be no supply and demand where the supply and demand that will establish the price at bitcoin for users believe that bitcoin will live

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April 06, 2017, 12:52:29 PM
 #623

The most obvious way that Bitcoin will die is when the demand of it becomes absolutely 0. Having a demand of zero means that people don't have any interest of Bitcoin whatsoever now their are many scenarios why Bitcoin's demand will be zero from the government banning it or when a new Altcoin replaces Bitcoin. But I am not worrying about it as Bitcoin is still has a growing demand that makes it have a secured long future ahead.

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April 06, 2017, 02:06:12 PM
 #624

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.

Yeah, the government is our biggest enemy here if the time will come that they are going against bitcoin, I mean like they are not just going to ban it but they are going to eliminate it in this cryptocurrency world. But let's just hope that nothing terrible would happen to bitcoin in the near future, let's just hope that even though the Government rejected the bitcoin ETF, bitcoin would still soare high amongst all the Altcoins here in the crypto world.

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April 06, 2017, 02:22:18 PM
 #625

I think the main attraction of bitcoin is its price and nothing else. If the price and future potential doesn’t look so great, no one would have used bitcoin just for the technical purpose. So bitcoin can only die if the price does to extreme minimum, at least for me.

I am an investor and I don’t bother about the technology. Bitcoin investment is giving profit to me and hence I am using it. If bitcoin price go to extreme minimum where there is no hope for recovering, I would not mind to quickly switch to other currency to keep my invested capital safe. So, for me the pricing is only factor, where bitcoin can die. 

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April 06, 2017, 02:36:57 PM
 #626

I think the main attraction of bitcoin is its price and nothing else. If the price and future potential doesn’t look so great, no one would have used bitcoin just for the technical purpose. So bitcoin can only die if the price does to extreme minimum, at least for me.

I am an investor and I don’t bother about the technology. Bitcoin investment is giving profit to me and hence I am using it. If bitcoin price go to extreme minimum where there is no hope for recovering, I would not mind to quickly switch to other currency to keep my invested capital safe. So, for me the pricing is only factor, where bitcoin can die. 

yes you are right that due high price of bitcoin too much people attracted towards it,but its price also depend on people if large number of people using it so its price will be maximum but if people stop using it then in that situation bitcoin would die.

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April 06, 2017, 02:37:55 PM
 #627

Bitcoin will die if people stop using it or Internet stops working.
These scenarios are not likely, at least not in the near future.
Of course, some other crypto currency can become more popular than bitcoin but still bitcoin will have followers, no doubt about it.
It's just question now if bitcoin can become mainstream or not.

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April 06, 2017, 02:41:31 PM
 #628

I think when bitcoin will die is if there is human on the planet earth.
Or if the whole planet of earth is no more in existing any more.
Nothing will stop the use of bitcoin or it's existence. So bitcoin is unstoppable.

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April 06, 2017, 03:06:11 PM
 #629

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.
Yes it will very difficult to get a full agreement of all the countries of the world about a particular subject and as long as there are places where it is legal then bitcoin will keep thriving and gain usage of new people as they realize what a wonderful currency bitcoin actually is.



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April 06, 2017, 03:13:59 PM
 #630

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

I don't think so. Why lose interest over something that's lucrative? People love money and people will only stop being into bitcoins when bitcoins doesn't give them any money anymore. Internet shut down will be fixed very quickly in most places because people depend on it especially in the city. How are the people including the government going to talk to each other when the Internet is gone? Internet has become a necessity to all of us that if it shuts down, people will fix it right away.

You have to elaborate more as to why people will lose interest fast and in an unexpected way, imo.

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April 07, 2017, 12:33:07 PM
 #631

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

This is next to impossible that Bitcoin would be banned in all important countries at once

Even if all countries somehow agree to ban Bitcoin, Swiss gnomes will certainly disagree (they love gold and they love Bitcoin too). Nevertheless, if we assume (purely hypothetical) that such event does occur, it will be a devastating blow to Bitcoin. Some folks claim that it will actually work in favor of Bitcoin (i.e. its price will only rise) due to the "forbidden fruit being sweet". I cannot agree with that. Bitcoin is purely utilitarian, it doesn't have value of its own and direct use (like, for example, drugs), it can be easily substituted (unlike, for example, drugs), so if it gets universally banned, its price will most certainly crash to double digits. It won't die, of course, but its use will be severely impaired

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April 07, 2017, 12:58:41 PM
 #632

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 if bitcoin is not value, when people in the world do not wanna use bitcoin maybe people can move to other real currency like dollar  Wink


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April 07, 2017, 01:18:02 PM
 #633

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 if bitcoin is not value, when people in the world do not wanna use bitcoin maybe people can move to other real currency like dollar  Wink

Probably, it might your thought but bitcoin would not die forever. Because rate of adoption over bitcoin and block chain have been increased gradually from the 2014 and after halving this is moving in huge numbers.
If it's go like this. Bitcoin will be costliest stock in near future. You may get your salary from the day job as bitcoin payment also. Who knows. Will wait see.

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SoulBargain
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April 07, 2017, 02:47:04 PM
 #634

Bicoin would come to halt if there is no one will use or transact with it. I doubt that this will happen though because as we know bitcoins influence continue to spread and there are a lot of people joining.

The demand for it is continuosly rising but if its demand drops so much due to various factors like the rise of a new cryptocurrency that exceeds the capability of Bitcoin then if is in no doubt cease to exist but we know it is impossible but we can not erase the possibility that Bitcoin will die or be replaced by other cryptocurrencies for no one knows definitely what may occur in the future.

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April 07, 2017, 03:07:31 PM
 #635

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.

I agree with you, bitcoin can't die. Because everyone who knows about bitcoin they trust on it, and only one reason is that to die bitcoin and that is all government ban to bitcoin. Than may be bitcoin die, But i also believe not all government do it, without any reason.


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April 09, 2017, 03:36:07 AM
 #636

If there was not enough hashes to supply and too much demand then the system will get sloeler and slower. I think all the power would have to go off in the whole of China before something drastic happens. But that applies with all electronic things.
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April 09, 2017, 03:58:06 AM
 #637

If there was not enough hashes to supply and too much demand then the system will get sloeler and slower. I think all the power would have to go off in the whole of China before something drastic happens. But that applies with all electronic things.
As the entire digital currency network is dependent on the internet and related digital products the endto comes based on the same. If electronic goods were destroyed the digital currency network too might face destruction, but now regularly the growth is felt on electronic systems so end is simply won't happen soon.

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April 09, 2017, 08:12:02 AM
 #638

As long as someone is running a full node and mining, the transactions on blockchain will not stop and more people can use it. If no one is maintaining a synchronized copy of the full node, the transaction history would be lost and everything has to be restarted. This is quite impossible, so is if the internet is cut off completely.














 

 

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Biggapp
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April 11, 2017, 10:46:25 AM
 #639

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 is the most popular and widely used currency of the online world and its value and demand is increasing day to day, so it would not die.but the reasons if the government strictly ban it or if the other technology or cryptocurrency replace its value. it also depend on users of bitcoin if a large number of people stop using bitcoin then there is danger to bitcoin.

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April 11, 2017, 10:50:58 AM
 #640

One thing is sure that might killed bitcoin totally and wipe it out.Its the world government,if world government consider bitcoins threat in many aspects of the world and the government government will totally ban bitcoin in each and everycountry in the world causing bitcoins to die,

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