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Author Topic: In what situation would Bitcoin die?  (Read 95864 times)
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April 21, 2017, 08:41:19 AM
 #801

Bitcoin will just disappear and no one knows what really happen on bitcoin this is how bitcoin will die in the next 30 years maybe? Because so far bitcoin has lots of users and becoming popular time by time.
Indeed, the only way I see the bitcoin dying is if the developers decide to do something that is not good for the network and for the users, much just like paying more fees and slower transaction, which for a lot of people are the key reason why they are using bitcoin like gamblers and investors, so them making bad decisions may drive people away from bitcoin who are the soul and core of the bitcoin’s success.














 

 

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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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April 21, 2017, 08:38:53 PM
 #802

I think that Bitcoin can die in the event that most countries formally make an official ban on him.

technically speaking, can bitcoin really be banned?

You were born yesterday, am I right?

Bitcoin was banned on some countries years ago such as Bangladesh, Bolivia, etc. See for yourself here https://www.cryptocoinsnews.com/top-10-countries-bitcoin-banned/#. That was last May 2015, some countries listed there accepts bitcoin now or on the process of acceting bitcoin. So banning bitcoin in a particular country is very possible. They have their own reason of doing so.
Banning bitcoin within the laws is the easy part, how are they going to enforce the ban is another story, look at file sharing the music and movie industry have done everything in  their power to stop people from doing such a thing and nothing has changed bitcoin is similar, for the determined user of bitcoin no ban is going to stop him.



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April 21, 2017, 09:46:41 PM
 #803

Banning bitcoin does not mean anything to me. If they ban the internet I can say "yeah bitcoin was banned."


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April 21, 2017, 10:05:06 PM
 #804

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.
Agreed, it will only happen if bitcoin users will disappear. But that's not going to be happen especially now bitcoin usage is very popular, and features of bitcoin is very useful too.

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April 21, 2017, 10:07:30 PM
 #805

Banning bitcoin does not mean anything to me. If they ban the internet I can say "yeah bitcoin was banned."
You are right, but no one can banned it. I mean government can't track you even if you want to use it and i think they know that. So i don't think that bitcoin will die in any of situations.

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April 21, 2017, 10:26:55 PM
 #806

Banning bitcoin does not mean anything to me. If they ban the internet I can say "yeah bitcoin was banned."
You are right, but no one can banned it. I mean government can't track you even if you want to use it and i think they know that. So i don't think that bitcoin will die in any of situations.

They can ban and block those bitcoin or crypto currency sites but they will never know who are those people that are keep on doing it. There's no way for the government now to ban bitcoin because this can help the government to collect a lot of tax and if this ever happens for sure many are going to keep on using it.

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April 21, 2017, 11:27:45 PM
 #807

Banning bitcoin does not mean anything to me. If they ban the internet I can say "yeah bitcoin was banned."
You are right, but no one can banned it. I mean government can't track you even if you want to use it and i think they know that. So i don't think that bitcoin will die in any of situations.

They can ban and block those bitcoin or crypto currency sites but they will never know who are those people that are keep on doing it. There's no way for the government now to ban bitcoin because this can help the government to collect a lot of tax and if this ever happens for sure many are going to keep on using it.
The only thing that i know that bitcoins can die is to shut off the internet or no internet at all but, thats so impossible to happen unless there is a war .Blocking of bitcoin or cryptocurrency sites will nothing to do with it. Bitcoin will not die on that situation and it is inversely proportional what happens to adoptation of bitcoins by other countries and big companies who will use blockchain technology in the form of payments process and the security provided .

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April 22, 2017, 01:06:07 AM
 #808

If the demand for btc is still high, btc would never die.

However if there is something that makes the demand decrease, because people start to see disadvantages, for example: very high fee. Btc price will go down and have possibility to die.

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April 22, 2017, 05:45:09 AM
 #809

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
If no one shows interest and stops buying bitcoins,then bitcoin price would decrease gradually and it may die eventually in due course of time.But,i feel that when quantum computing will be introduced,then it may lead to the death of bitcoin.
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April 22, 2017, 05:57:50 AM
 #810

The lack of usage.
But in this case we are the one who will keep on using it. That is why we are this forum to not let that happen. As long as someone or  a group is using it there will be a chance that it could resurrected just like other coins.
I remember buying a coin in Yobit which is at 2 satoshis per coin. Suddenly it went up, thanks to those who pumped it.
Luckily this coins are almost the same as bitcoin which will keep on running when someone buys it.

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April 22, 2017, 06:25:25 AM
 #811

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

if all of the countries will banned it, and if hackers put down all the bitcoin sites and online wallet that many of us is using , that would probably the problem i think. I think bitcoin will not lose very easily.

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April 22, 2017, 06:40:04 AM
 #812

Banning bitcoin does not mean anything to me. If they ban the internet I can say "yeah bitcoin was banned."
You are right, but no one can banned it. I mean government can't track you even if you want to use it and i think they know that. So i don't think that bitcoin will die in any of situations.

They can ban and block those bitcoin or crypto currency sites but they will never know who are those people that are keep on doing it. There's no way for the government now to ban bitcoin because this can help the government to collect a lot of tax and if this ever happens for sure many are going to keep on using it.
The only thing that i know that bitcoins can die is to shut off the internet or no internet at all but, thats so impossible to happen unless there is a war .Blocking of bitcoin or cryptocurrency sites will nothing to do with it. Bitcoin will not die on that situation and it is inversely proportional what happens to adoptation of bitcoins by other countries and big companies who will use blockchain technology in the form of payments process and the security provided .

If we are going to assume that there would be total shut down of internet on the whole world it can be back immediately. But I don't think that it will make bitcoin die, because it will only stop for awhile but when everything came back normal. Bitcoin can be alive again and there's no way that it can be dead on that simple way by just shutting off the internet.

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April 22, 2017, 07:02:13 AM
 #813

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

if all of the countries will banned it, and if hackers put down all the bitcoin sites and online wallet that many of us is using , that would probably the problem i think. I think bitcoin will not lose very easily.
But what happens is not banning bitcoins ,they accept and legalize bitcoins in some countries now. If hackers put down the bitcoin sites i guess they are the one who losses also bitcoins why they would put down bitcoin sites if they can hack bitcoin accounts so they will make money on it and i think that will be a non- sense doing for them to break bitcoin from spreading .So its definitely hard that bitcoins will die.

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April 22, 2017, 07:38:56 AM
 #814

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

if all of the countries will banned it, and if hackers put down all the bitcoin sites and online wallet that many of us is using , that would probably the problem i think. I think bitcoin will not lose very easily.

Banning seems something impossible when you talk about the free world. Off course some more conservative countries may want to do that.

But remember too that bitcoin is online, banning something which is online is hard. Other ways that bitcoin dies, like a new altcoin are just anticipation and speculation.
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April 22, 2017, 07:52:27 AM
 #815

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

if all of the countries will banned it, and if hackers put down all the bitcoin sites and online wallet that many of us is using , that would probably the problem i think. I think bitcoin will not lose very easily.

Banning seems something impossible when you talk about the free world. Off course some more conservative countries may want to do that.

But remember too that bitcoin is online, banning something which is online is hard. Other ways that bitcoin dies, like a new altcoin are just anticipation and speculation.
The problem is not because it's online but because it's decentralised. The government can easily get rid of online thing they don't like by simply seizing the server of the site or service. but, it's a different thing if you're talking about bitcoin, bitcoin is everywhere and so does with its miners which exist in many countries with internet.

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BlackBaron
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April 22, 2017, 08:43:39 AM
 #816

bitcoin would not die if there are still any demand and trade even if bitcoin be banned maybe there will be some people still make transaction anonymously

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April 22, 2017, 04:36:48 PM
 #817

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

if all of the countries will banned it, and if hackers put down all the bitcoin sites and online wallet that many of us is using , that would probably the problem i think. I think bitcoin will not lose very easily.

Major forum sites like reddit will always be there. There are hackers that would want to take down reddit just for the lulz (laugh) but you still see reddit around. Even when hypothetically the hackers take down every single bitcoin-related websites, reddit, hackforums, and other major forum sites will still be there and people will still be able to talk to each other. In other words, people will simply move to a different place to do their talks.

Not everyone is using online wallets and most bitcoin users are aware that when you use an online wallet, you're taking a risk. People that did some research about bitcoins will definitely use a desktop wallet at least.

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April 22, 2017, 11:43:04 PM
 #818

if there is no demand for it and then I the price would fall down I think it will end the bitcoin,
Or maybe if some crypto currency surpass it.

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April 22, 2017, 11:47:41 PM
 #819

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

If people stop using bitcoin, bitcoin will be dead. We see it in many altcoins. Some new altcoins are rising in price when demanded. Later, when people stop using it they dead.

Apart from this, the bitcoin system will always be.
yeah if bitcoin users stop to using bitcoin then it will be dead but its impossible because a lot of people are using bitcoin and altcoin will be never rise than bitcoin because there is a lot of services are available on bitcoin.
users like heart for bitcoin. if the user is no longer using bitcoin or all users away from the bitcoin bitcoin will die and will live again when the user comes back
yes that is right but if the users will leave bitcoin then it will then take too much time to recover when the users start to work again so from the start everyone have to support bitcoin for their success and for the strength of bitcoin.
very simple if you feel helped and life be changed because bitcoin at least  keep using bitcoin. then bitcoin will continue to live and survive


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April 23, 2017, 02:23:32 AM
 #820

I think that Bitcoin can die in the event that most countries formally make an official ban on him.

technically speaking, can bitcoin really be banned?

You were born yesterday, am I right?

Bitcoin was banned on some countries years ago such as Bangladesh, Bolivia, etc. See for yourself here https://www.cryptocoinsnews.com/top-10-countries-bitcoin-banned/#. That was last May 2015, some countries listed there accepts bitcoin now or on the process of acceting bitcoin. So banning bitcoin in a particular country is very possible. They have their own reason of doing so.
Banning bitcoin within the laws is the easy part, how are they going to enforce the ban is another story, look at file sharing the music and movie industry have done everything in  their power to stop people form doing such a thing and nothing has changed bitcoin is similar, for the determined user of bitcoin no ban is going to stop him.

That is correct. The government cannot really stop people from using bitcoin even though it is illegal in their country. If only the government can monitor every single citizen, then they can enforce their act of banning bitcoin but since this is too difficult for them, it is all up to the people if they will compromise and comply with their laws or not.

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