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Author Topic: In what situation would Bitcoin die?  (Read 94303 times)
OneUnderBridge
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April 15, 2017, 10:02:52 PM
 #721

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 never die. Trust and believe, my friend. No way, no how will it ever go away. Bitcoin is here to stay. I am confident in that.

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centralbanksequalsbombs
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April 15, 2017, 10:10:17 PM
 #722

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.

Exactly Bitcoin has been established (7+yrs), has vested interests globally (diverse places like Phillippines, Japan, Russia, Spain, China, USA, India), has an immutable transparent ledger, crypto-secured, decentralized system of checks with small blocks.

It has destroyed spam attacks, daily hack attempts at some of the smartest hackers globally, and government attempts of bans.

It has emerged as, (although volatile) the ultimate store of value.
If curious, i detail the dynamics & reasons for this at this post:
"Hacks & puppets & forks - how to destroy bitcoin" https://bitcointalk.org/index.php?topic=1834310.0 

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April 15, 2017, 11:08:40 PM
 #723

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.
yes currently bitcoin is really too much strong and is becoming more and more stronger than its previous position, i am hopeful that very soon the user of bitcoin will also be present in backward countries of the world.
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April 16, 2017, 02:57:22 AM
 #724

EMP's and weapons that we haven't found information on could finish Bitcoin without anyone complaining about it. Now that I think about it the United States dropped a bomb recently labeled as the Mother of all bombs -I already know that the United States has bombs more powerful than the one that they just used though if it was mixed in with an EMP and used at a specific place that hosts major technological importance within the world then it would do huge damage to Bitcoin.

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April 16, 2017, 03:33:39 AM
 #725

I think when the blockchain stop moving and everyone lose their interest in Bitcoin.  That is the time Bitcoin will die.  No miner, no developers, no traders, no merchant  and no users. Meaning all the development activities, mining activites etc. stops.  
This may be related to each other if the bitcoin without blockchain like a wallet without money so if the have money will not be a place to save similarly bitcoin if no blockchain will first so that it will be gone, probably will not use gradual devotees bitcoin because it feels uncomfortable, and all activity will cease all in bitco site

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April 16, 2017, 04:00:25 AM
 #726

If people lose faith in the security of the network for one reason or another then bitcoin could die. no matter how many times i look at the numbers i always have this idea in my head that an address could finally be cracked with a super computer ie one of satoshis old addresses, this would obviously be catastrophic . Maybe after years of not achieving mass adoption price will slowly taper off and die, to me this is the most likely case.

All that are computer related especially internet function apps and programs have always the possibility of getting cracked. Today there were a lot of programmers trying to knew how ones program function so well,curiosity strikes them. Being cracked,no other developments in bitcoin,plus if there are more cryptocurrency that can perform more than bitcoin can be the reason of bitcoin lost.However this things will not come this soon now it is used by many.

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Afnan_faizah
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April 16, 2017, 06:01:41 AM
 #727

I think bitcoin will be die if no one use bitcoin. Because people that make bitcoin is worthed. There are a lot of people that use bitcoin for their daily life especially some people in city that so many merchant in there that accept bitcoin.

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April 16, 2017, 07:27:29 AM
 #728

I think bitcoin will be die if no one use bitcoin. Because people that make bitcoin is worthed. There are a lot of people that use bitcoin for their daily life especially some people in city that so many merchant in there that accept bitcoin.
Yes, that will be the worst case scenario for bitcoin. If no one will use bitcoin then bitcoin will be just worthless thing in the internet because its value will be down on $0 because there is no demand and no one else is buying or using it as their currency so bitcoin will probably die if that happen but i think it is nearly impossible if you compare on what is happening right now.

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April 16, 2017, 07:31:35 AM
 #729

I think bitcoin will be die if no one use bitcoin. Because people that make bitcoin is worthed. There are a lot of people that use bitcoin for their daily life especially some people in city that so many merchant in there that accept bitcoin.
Yes, that will be the worst case scenario for bitcoin. If no one will use bitcoin then bitcoin will be just worthless thing in the internet because its value will be down on $0 because there is no demand and no one else is buying or using it as their currency so bitcoin will probably die if that happen but i think it is nearly impossible if you compare on what is happening right now.

He won the trust of many and now it is almost impossible. But in the event of war in an economically developed country, bitcoin really can die.
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April 16, 2017, 09:53:47 AM
 #730

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
Bitcoin may die when Quantum computing would be introduced.But it would take around 20 more years for it to be introduced.But i hope necessary developments would be made by that time to save bitcoins.Bankers and governments have tried a lot to destroy bitcoins but they couldnot.
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April 16, 2017, 11:17:36 AM
 #731

I think bitcoin will be die if no one use bitcoin. Because people that make bitcoin is worthed. There are a lot of people that use bitcoin for their daily life especially some people in city that so many merchant in there that accept bitcoin.
yes you are right that the value of bitcoin depend on the number of users, if the people stop using it than bitcoin would die. but here i think that due to bitcoin a large number of people get their income by earning, and also alot of people get employment from bitcoin forum,so there is alot of benefits from bitcoin so how could they stop using bitcoin.

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April 16, 2017, 11:27:12 AM
 #732

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
Bitcoin may die when Quantum computing would be introduced.But it would take around 20 more years for it to be introduced.But i hope necessary developments would be made by that time to save bitcoins.Bankers and governments have tried a lot to destroy bitcoins but they couldnot.
I don't think it dies in a short or after some innovation. Even after 20 more years the quantum computing might help in making bitcoin more potential. Better the computing power better will be the bitcoin growth. So it won't lead towards the fall of bitcoin.

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April 16, 2017, 05:44:29 PM
 #733

The only situation where Bitcoin would die would be in the case where the Internet would stop to function and in the case where there would be a durable worldwide electrical shutdown. The reasons why it would stop to function would not need to be precised I guess.

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April 16, 2017, 10:53:28 PM
 #734

When the trust will fall. Which is never becuase is is anonymous. Thats my guess

Bitcoin is not 100% anonymous, but it is very easy to use and usage of bitcoin together with the features of it was too helpful to anyone especialy in terms of business investment. Therefore, bitcoin is will not gonna die in situation like this, particularly nowadays it continously in progress.

                                 
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April 16, 2017, 11:55:26 PM
 #735

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
Bitcoin may die when Quantum computing would be introduced.But it would take around 20 more years for it to be introduced.But i hope necessary developments would be made by that time to save bitcoins.Bankers and governments have tried a lot to destroy bitcoins but they couldnot.
I don't think it dies in a short or after some innovation. Even after 20 more years the quantum computing might help in making bitcoin more potential. Better the computing power better will be the bitcoin growth. So it won't lead towards the fall of bitcoin.
yes bitcoin is not going to die in any situation, as currency bitcoin is really trading in a high value and still people are putting trust on bitcoin therefore bitcoin is not going to die, hope that it will survive for ever.
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April 17, 2017, 01:13:34 AM
 #736

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
Bitcoin may die when Quantum computing would be introduced.But it would take around 20 more years for it to be introduced.But i hope necessary developments would be made by that time to save bitcoins.Bankers and governments have tried a lot to destroy bitcoins but they couldnot.
I don't think it dies in a short or after some innovation. Even after 20 more years the quantum computing might help in making bitcoin more potential. Better the computing power better will be the bitcoin growth. So it won't lead towards the fall of bitcoin.
yes bitcoin is not going to die in any situation, as currency bitcoin is really trading in a high value and still people are putting trust on bitcoin therefore bitcoin is not going to die, hope that it will survive for ever.
How you will assure that in any situation it wont die ? Even though the fact that we see the continues growth of market price we dont guaranteed that it will last .The question corresponds in what situation it will die and not that to push that bitcoin is not going to die .

There are many possiblities but we don't know it yet anything can happen so as long as the bitcoin has a use and keep on circulating it will be alive .If it dumps hard maybe its the time for the investors to not trust bitcoins and probably slowly to die.

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April 17, 2017, 06:08:58 AM
 #737

How Bitcoin would die, in theory:

-Bitfinex and USDT crash the market, or a lack of consensus from scaling, or both

-Mining becomes unprofitable for anyone except Jihan Wu

-Mining becomes extremely monopolised

-Bitcoin is no longer decentralised, thus the majority of people using it decide it's no longer what it's supposed to be and leave

-Mining becomes unprofitable even for Jihan Wu

-Bitcoin dies.

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April 17, 2017, 06:20:06 AM
 #738

How Bitcoin would die, in theory:

-Bitfinex and USDT crash the market, or a lack of consensus from scaling, or both

-Mining becomes unprofitable for anyone except Jihan Wu

-Mining becomes extremely monopolised

-Bitcoin is no longer decentralised, thus the majority of people using it decide it's no longer what it's supposed to be and leave

-Mining becomes unprofitable even for Jihan Wu

-Bitcoin dies.
I see that the most concern in your post is all about mining which is i agree with. If mining will not profitable anymore then it will become a reason for miners to leave bitcoin and if miners will leave bitcoin then there is no people supports the network and network eventually dies and it will become a reason for investors to leave also and sell their coins.

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April 17, 2017, 08:08:45 AM
 #739

How Bitcoin would die, in theory:

-Bitfinex and USDT crash the market, or a lack of consensus from scaling, or both

-Mining becomes unprofitable for anyone except Jihan Wu

-Mining becomes extremely monopolised

-Bitcoin is no longer decentralised, thus the majority of people using it decide it's no longer what it's supposed to be and leave

-Mining becomes unprofitable even for Jihan Wu

-Bitcoin dies.
I see that the most concern in your post is all about mining which is i agree with. If mining will not profitable anymore then it will become a reason for miners to leave bitcoin and if miners will leave bitcoin then there is no people supports the network and network eventually dies and it will become a reason for investors to leave also and sell their coins.

It will only die if it will be shut down by the system, its developer or if internet gone. Bitcoin values as of now is getting favorable for its user, it is highly appreciated in terms of its features and value. The only downfall of its now is its delay for accepting or submitting transfers. There is only a need to develop its transaction speed .other than that it all works smoothly.



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April 17, 2017, 11:14:25 AM
 #740

How Bitcoin would die, in theory:

-Bitfinex and USDT crash the market, or a lack of consensus from scaling, or both

-Mining becomes unprofitable for anyone except Jihan Wu

-Mining becomes extremely monopolised

-Bitcoin is no longer decentralised, thus the majority of people using it decide it's no longer what it's supposed to be and leave

-Mining becomes unprofitable even for Jihan Wu

-Bitcoin dies.
I see that the most concern in your post is all about mining which is i agree with. If mining will not profitable anymore then it will become a reason for miners to leave bitcoin and if miners will leave bitcoin then there is no people supports the network and network eventually dies and it will become a reason for investors to leave also and sell their coins.

It will only die if it will be shut down by the system, its developer or if internet gone. Bitcoin values as of now is getting favorable for its user, it is highly appreciated in terms of its features and value. The only downfall of its now is its delay for accepting or submitting transfers. There is only a need to develop its transaction speed .other than that it all works smoothly.




Yeah and it can also die if people stop using it completely in future but I don't think that will ever happen but bitcoin should resolve the issue of delay in confirmation time as that can be also an reason for people to not use bitcoins in future.



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