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Author Topic: In what situation would Bitcoin die?  (Read 94917 times)
Harry Callahan
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April 14, 2017, 09:19:52 PM

Any currency can die if you stop using it. If bitcoin ceases to use, then he will die too. It all depends on the users.
It is a direct answer and most probably an impossible thing to happen because people are coming into bitcoin with time and the only time when people stop using these digital currency is when there is a major flaw in the technology and it is highly unlikely it will happen because there are competent people over looking everything.
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April 14, 2017, 09:40:02 PM

There are tons of possible ways that Bitcoin can end, you can not even count them. Everyone could stop using it, it can somehow crash for some reasons, it can somehow become worthless, nobody knows what can happen to it. Most of these wont happen, it did survive this long, why would it die now.



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April 14, 2017, 09:40:29 PM

I dont think it is possible. I mean bitcoin can never die. Many people know cryptomoney and use it. Earn money with it. invest money to it. No way dude no way.
Yes, i think you right, I don't imaginate that bitcoin will die one day, even if many government banned it, because people love/trust bitcoin and they will use it even in the worst situation of this cryptocurrency. So as you said "no way".

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April 14, 2017, 09:55:13 PM

I dont think it is possible. I mean bitcoin can never die. Many people know cryptomoney and use it. Earn money with it. invest money to it. No way dude no way.
i agree with you that bitcoin will be never die because bitcoin getting much more stronger day by day and a lot of people adopting bitcoin for their future and maximum people consider that bitcoin is the future of currency.

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April 14, 2017, 10:24:20 PM

I dont think it is possible. I mean bitcoin can never die. Many people know cryptomoney and use it. Earn money with it. invest money to it. No way dude no way.
i agree with you that bitcoin will be never die because bitcoin getting much more stronger day by day and a lot of people adopting bitcoin for their future and maximum people consider that bitcoin is the future of currency.
yeah bitcoin is very much stronger currency and bitcoin will be survive forever because a lot of people using bitcoin and we know bitcoin rising its price every day.

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April 14, 2017, 11:14:22 PM

I'm not a technical guy, but I would guess that one possible scenario would be :
the network gets exploited to a point where it is beyond repair.

Then again, if we learnt anything from the ETH fork, maybe things could be reversed (tho this wouldn't work on BTC chain), or both the new exploited chain and the old chain would break off into two chains and the network value will take a huge hit, but still survive.

So perhaps the only way would be if there's a core vulnerability in the code that causes the whole mechanism of secure P2P payments to fail. If can't be fixed, Bitcoin may go to $0. But the next day, Bitcoin 2.0 will be up and running and things will be back to where it was in a couple of months or years.

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April 15, 2017, 08:08:36 AM

I've never seen such a scenario wherein the users of a certain currency died altogether, let alone if these people are scattered all around the world. Assuming that all bitcoin users die, the idea of bitcoins will never die. There would always be new people coming to bitcoins by their own. They don't need anyone to force them or even point them towards bitcoin's direction.

Since all the data about bitcoins are posted on the Internet. Someone who would simply search "How to earn money online" will find out about bitcoins. Not to mention that these key words are used a lot since most people want to earn by working online at home.
The idea is not killing the bitcoin users, but killing the purpose of wish they use bitcoin for, killing the reason why people still believe in bitcoin, and it think that it could be accomplished in many ways, including the transactions and the fees just like what is happening right now the transaction are getting slower and the fees are starting to take place.

Or, if some major counties like china and the USA banned bitcoin than the price of the bitcoin will go down and that will drive people away from it until it perishes.



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April 15, 2017, 01:17:32 PM

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

How would bitcoin die? Bitcoin would die if no one will buy, sell and use it. It will be the same for all the cryptocurrencies if no country will stop using it.


it means marketcap should be zero and it occurs when there is no single user in bitcoin and today bitcoin has tens of millions of users and continues to grow. so I think it will be long for bitcoin to die


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April 15, 2017, 01:41:14 PM

The only scenario that i can picture out that will cause certain death of BTC market is just if a new coin exist that has a better features than bitcoin. Features that can catch and attract the attention of all bitcoin whales. Because bitcoin will never die if there is no alternative coin that can replaced its current role here on crypto.

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April 15, 2017, 01:51:17 PM

I dont think it is possible. I mean bitcoin can never die. Many people know cryptomoney and use it. Earn money with it. invest money to it. No way dude no way.
i agree with you that bitcoin will be never die because bitcoin getting much more stronger day by day and a lot of people adopting bitcoin for their future and maximum people consider that bitcoin is the future of currency.
yeah bitcoin is very much stronger currency and bitcoin will be survive forever because a lot of people using bitcoin and we know bitcoin rising its price every day.
i agree with you that bitcoin is stronger currency and i am sure bitcoin technology will be more advance in the near future and bitcoin will be survive forever and yeah bitcoin already rising its price too much faster.

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April 15, 2017, 01:57:53 PM

I dont think it is possible. I mean bitcoin can never die. Many people know cryptomoney and use it. Earn money with it. invest money to it. No way dude no way.
i agree with you that bitcoin will be never die because bitcoin getting much more stronger day by day and a lot of people adopting bitcoin for their future and maximum people consider that bitcoin is the future of currency.
yeah bitcoin is very much stronger currency and bitcoin will be survive forever because a lot of people using bitcoin and we know bitcoin rising its price every day.
i agree with you that bitcoin is stronger currency and i am sure bitcoin technology will be more advance in the near future and bitcoin will be survive forever and yeah bitcoin already rising its price too much faster.

Not this time. Bitcoin price pump is currently on hiatus since many ETH based coin are pumping. It really affects the price variation of the bitcoin. Many altcoins today looks promising and that trigger for some investor to transfer their funds to other coin. I think this price dump that we currenlty experiencing will continue until the last quarter pf the year.

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April 15, 2017, 02:01:48 PM

The only way for any coin to die is their community stop using it, the reason can be the huge fees, the delay between transactions since bitcoin does require confirmations to avoid being double spent. At this stage i really doubt bitcoin can die, there is a lot money around mining and the coin, and there isnt any other similiar coin with the odds to give such income as bitcoin.

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April 15, 2017, 02:25:30 PM

I dont think it is possible. I mean bitcoin can never die. Many people know cryptomoney and use it. Earn money with it. invest money to it. No way dude no way.
I do not think you are right. Bitcoin is evolving, but it is just a virtual currency, and it does not have a fixed denomination, it's totally dependent on cash, so it can die any time, it depends entirely. Entire market. But at the present moment, it is thriving, hardly anything that can make the king of all other virtual coins die.

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mornabo
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April 15, 2017, 02:27:57 PM

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,
it will not make bitcoin dead, the tires will be bad for bitcoin as the loss of interest of potential users, loss of confidence, but bitcoin can still be used and it will make bitcoin alive

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April 15, 2017, 02:34:11 PM

Any currency can die if you stop using it. If  ceases to use, then he will die too. It all depends on the users.
i agree with you if we stop to use any currency then it will be go to die and decrease it value and you are right that it depend on user.
it really depend upon the users. the users are the strength of any app , website or any currency as well either it is digital or crypto so, the only case in which it dies is when its users want it to die or stop using it and i don't think it will happen in this mean time or in future. it is very popular in west and gaining popularity in east as well and most of the people are using for online trading and investing so, there is no other way of it to being unpopular.


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Wesimon
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April 15, 2017, 05:06:09 PM

I dont think it is possible. I mean bitcoin can never die. Many people know cryptomoney and use it. Earn money with it. invest money to it. No way dude no way.
i agree with you that bitcoin will be never die because bitcoin getting much more stronger day by day and a lot of people adopting bitcoin for their future and maximum people consider that bitcoin is the future of currency.
yeah bitcoin is very much stronger currency and bitcoin will be survive forever because a lot of people using bitcoin and we know bitcoin rising its price every day.
i agree with you that bitcoin is stronger currency and i am sure bitcoin technology will be more advance in the near future and bitcoin will be survive forever and yeah bitcoin already rising its price too much faster.

No matter how strong bitcoin, there will be some time that bitcoin will become weak and that is the time its attackers will have an all out attack in order to bring bitcoin down. I am not a party pooper at some sort but I am just looking at the reality. Bitcoin might die any time from now, a mere possibility. Bitcoin might prevail or loose, its just the reality.

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April 15, 2017, 05:32:15 PM

There could be different possible reasons for the end of the bitcoin ...one of them could be that everyone quits the use cryptocurrency (not possible)...the other could be BTU. With the arrival of the BTU mining power may divide up...or can even fall to very low hash rates ultimately leading to the end of the bitcoin.

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April 15, 2017, 06:34:31 PM

I dont think it is possible. I mean bitcoin can never die. Many people know cryptomoney and use it. Earn money with it. invest money to it. No way dude no way.
I do not think you are right. Bitcoin is evolving, but it is just a virtual currency, and it does not have a fixed denomination, it's totally dependent on cash, so it can die any time, it depends entirely. Entire market. But at the present moment, it is thriving, hardly anything that can make the king of all other virtual coins die.

That's typical bullshit that people continue to repeat time after time

Bitcoin denominations are as fixed as any other out there. 1 bitcoin, 2 bitcoins, etc ad nausea. It depends on fiat no more than any other good "depends" on fiat. If the price of something is quoted in some currency (the US dollar is most often gets mentioned here), it doesn't mean that it depends on that currency. In fact, it is exactly the other way round, i.e. to have any utility (and value), a specific currency should be used to price things in it. If things stop being priced in that currency, the currency will die, not these things

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April 15, 2017, 09:41:13 PM

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

Bitcoin will not gonna die, especially now. While the value price now was high 1200$but still considered as a good investment. As long as we can afford and have a chance to buy. Lets us take the chance to buy it.

                                 
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April 15, 2017, 09:57:22 PM

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

I can't see a situation right now to see bitcoin die because instead of dying it will be on a progressive growth where each year there's a growth.

But let's give an example, if ever the whole world will make a total ban for bitcoin, the market will be keep on going but there is a chance that many investors and holders will let go.

And that will start bitcoin to be dead. But that's far to happen if we will think about it.



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