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Author Topic: In what situation would Bitcoin die?  (Read 96025 times)
batang_bitcoin
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April 25, 2017, 04:25:50 AM
 #861

bitcoin is a p2p currency. the only way it can die is if people stop using it
As of now i don't think so that bitcoin can die because people using bitcoin are many and almost day by day users of bitcoin increasing because of socail media we spread the good news about bitcoin.

Yeah I will support this, right now it's hard to make bitcoin die and a lot of people invested a lot of money on it already. There's no way to make bitcoin dead because it has already a very strong foundation and that cannot changed right now. Even there are people and medias that will change the reputation of bitcoin to bad, still that won't work.

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April 25, 2017, 07:04:37 AM
 #862

I hope bitcoin will last forever. Bitcoin is the hope of the internet enthusiast to be able to earn money easily
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April 25, 2017, 09:02:00 AM
 #863

No demand for Bitcoin then it will surely die out which I see for now is very unlikely to happen due to the fact that the demand of it is continuosly increasing together with the benefits it offers compared to fiat or to other currencies.
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April 25, 2017, 09:54:14 AM
 #864

I hope bitcoin will last forever. Bitcoin is the hope of the internet enthusiast to be able to earn money easily
Bitcoin will not last forever because it is limited and even now there is a lot of problems for bitcoin that is needed to fix by the developers like the slow confirmation and high rate of fees, if those problems will not be fix then it will be a huge problem for bitcoin to just die and it will make the bitcoin part of the history.

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April 25, 2017, 10:05:54 AM
 #865

I hope bitcoin will last forever. Bitcoin is the hope of the internet enthusiast to be able to earn money easily

We absolutely have a basis to believe that bitcoin can last forever. However, you can only make money from it if you know how to do it, otherwise you will lose money heavily.

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extracoinrome
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April 25, 2017, 10:11:50 AM
 #866

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 think Bitcoin will dead if every country decides to ban Bitcoin permanently..." that will eventually lead to inflation (increase in price) within the bitcoin niche not death.

Come to think of it what will make all country to ban such virtual currency if, it's beneficial to them?


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April 25, 2017, 10:21:28 AM
 #867

bitcoin is a p2p currency. the only way it can die is if people stop using it
As of now i don't think so that bitcoin can die because people using bitcoin are many and almost day by day users of bitcoin increasing because of socail media we spread the good news about bitcoin.
I agree with you, bitcoin is such as innovation of payment system that really good. I do not think that people will leave bitcoin. and also bitcoin price is keep increasing so it can attracts more people to use bitcoin.

I think that the real enemies of bitcoin are the government. It can make it so that people stop using bitcoin because of big taxes or other restrictions.
Even like that, people could still secretly using bitcoin regardless of the risks or punishment they may bear. Just see how people are still transacting illegal thing even if the government have released regulation with the following cases. I ain't referring bitcoin as the same as criminal activities but there's always a way for someone to avoid the tax or even restrictions when it comes to digital thing.
Just see how some countries are banning porn but their citizens still have access towards many sexual contents unbeknownst by their government, as simple like that.

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April 25, 2017, 01:08:00 PM
 #868

We all know that bitcoin can die in just a second bitcoin price can go down in just a split second first i think is when bitcoin is hack but at this rate we know that bitcoin cannot be hack because of a great unlockable code it has and second situation is when there are no people who using bitcoin when there is no bitcoin demand bitcoin would die.

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April 25, 2017, 02:51:11 PM
 #869

We all know that bitcoin can die in just a second bitcoin price can go down in just a split second first i think is when bitcoin is hack but at this rate we know that bitcoin cannot be hack because of a great unlockable code it has and second situation is when there are no people who using bitcoin when there is no bitcoin demand bitcoin would die.

I doubt that the price would go from 1K USD to zero in just a second. I doubt that it will ever even go down to that. Not every coin is being trade and not everyone has a plan to dump his coin when the price of bitcoin starts to go down. Of course there would be people that's going to sell their coin during the crash so they can buy at the lowest dip, but not everyone's going to do that. Not everyone's going to panic sell or take advantage of the situation. There will be people just holding their bitcoin and simply wait for the price to go back to normal as usual.

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April 25, 2017, 03:01:22 PM
 #870

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.

yes you are probably correct, it will be die if some countries will banned it permanently, and in some areas in the world I think, surfing in the internet is prohibited, but not all the country it is prohibited there are few.

I don't think that there is any country that has prohibited the usage of internet as its not illegal to use internet and all countries needs internet to carry out their businesses but there are few countries that have banned bitcoins permanently and people cannot use it freely like other countries.

Hmm. How about North Korea? It's the only communist country and the Internet surely is banned there. Because otherwise, we should already have leaks about the stuffs that's going on in their country. But right now, we have very little to no idea at all.

It's not that the internet is illegal to use in a country, but there are places where bitcoin is simply inaccessible. It's also the reason why bitcoin's mass adoption's possibility is still being questioned every now and then.

Also, the Internet is such an important thing in this world as of now. If it goes down for a whole 24 hours, people will panic and it will cause a lot of inconvenience and delay to the mass. Making it illegal will cause chaos.

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April 25, 2017, 03:05:48 PM
 #871

If the transactions will be slower and slower and if that happens then it means that the miners are getting few and the foundation of the network will be weaker and weaker and that will be the start for bitcoin to die, Or if it starts to cause to much trouble to economy and it would get banned.
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April 25, 2017, 03:19:47 PM
 #872

There are only two possibilities in which bitcoin can die.

Either people stop using it or there comes some new currency which is better then bitcoins and if that happens then I think bitcoin can disappear in quick time but as of now I think everything is fine with bitcoins.

Very smart, directly to the point. Only these two possibilities could make bitcoin die. But there are infinity causes to reach to these two possibilities, like persons trying to sabotage bitcoin, it's the worse and most dangerous possible cause to the bitcoin failure.
And there are many others causes, we need to be aware about everything to protect bitcoin against threats.
There are more possibilities for example the disappearance of some of the networks bitcoin depends, bitcoins depends on the electric network and also on the internet, so if one of those were to disappear then bitcoin will most likely disappear since there will not be a way to run bitcoin.
but i do not think that such situation can even happen. because we are not only depending on these things for bitcoin but we are depending on these thing for so many other important issues, as if electricity or internet will down it will effect our life for so many other aspect.
It can happen, it is not very likely to happen but that does not mean it is impossible, but as you said if such networks disappeared then the disappearance of bitcoin will not be such a great deal since we will probably need to worry about food and water at that point.

With the users all over the world uaing bitcoin, I think it is now unstoppable. The users are increasing especially they are now accepted in Japan. And networks will not go anywhere, do you think companies or even governments will not a make a solution to fix the network if it falls? Even the electricity? Nowadays they are essential to our lives, they are even needed for our jobs.
Yeah if you think for 2 year or serveral year again bitcoin unstoppable but honestly not sure bitcoin still exist for 10-20 year again. ETF reject bitcoin is one the reason make me think one day bitcoin will die and other reason is electricity because the cost of electricity will high in the future and if the price not increased bitcoin will die.

That's the technology, all have periods of popularity. Although the system is very neat and Nice, but if they can't maintain the popularity that has been built so slowly but surely these technologies will die and be replaced with better technology. Bitcoin is indeed likely to be great or very high profits, but that all also depends on users or existing registrants in the bitcoin. Because of all the great help from users and enthusiasts
 

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April 25, 2017, 04:04:53 PM
 #873

Bitcoin can ended with different ways. Today we can only suppose how, but only the future can show us what is going to be in fact.

   
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April 25, 2017, 04:33:07 PM
 #874

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
There are many ways that bitcoin would die because you can only use it in the internet. For example bitcoin would die if no one is longer uses bitcoin, if the government wants to shutdown and ban bitcoin that would be possible but i hope it will not and last if there is no longer internet connection because of world war.

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April 25, 2017, 04:44:03 PM
 #875

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
There are many ways that bitcoin would die because you can only use it in the internet. For example bitcoin would die if no one is longer uses bitcoin, if the government wants to shutdown and ban bitcoin that would be possible but i hope it will not and last if there is no longer internet connection because of world war.
Yes i totally agree with your opinion bitcoin would die if no longer uses bitcoin and the government would shutdown bitcoin for good. That's a big bad news for us whobuses bitcoin because bitcoin has been a big help to us and what will happen to the money that we save ? That's the real question if bitcoin would die.

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April 25, 2017, 04:46:25 PM
 #876

If the governments of many large countries forbid bitcoins at the level of law, bitcoin may die.
He will lose popularity among most people. And this is the death of the crypto currency. But we already see that many countries went the other way, favorable for bitcoin
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April 25, 2017, 04:51:47 PM
 #877

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.
Bitcoin is not difficult to destroy because it is online, bitcoin is difficult to destroy because it is not centralized, think of bitcoin as a guerrilla warfare, if you have a big army concentrated in a place that army can be wiped out with just a few bombs but if that army is all over the country then you need a lot more bombs to try to damage it.



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April 25, 2017, 05:44:58 PM
 #878

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.
Bitcoin is not difficult to destroy because it is online, bitcoin is difficult to destroy because it is not centralized, think of bitcoin as a guerrilla warfare, if you have a big army concentrated in a place that army can be wiped out with just a few bombs but if that army is all over the country then you need a lot more bombs to try to damage it.
to me i think bitcoin is becoming more and more secure and hope that in future bitcoin will popularity will increase more and more because the user of bitcoin are increasing from time t time and very soon all the people of the world will start using bitcoin.

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April 25, 2017, 05:54:58 PM
 #879

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.
Bitcoin is not difficult to destroy because it is online, bitcoin is difficult to destroy because it is not centralized, think of bitcoin as a guerrilla warfare, if you have a big army concentrated in a place that army can be wiped out with just a few bombs but if that army is all over the country then you need a lot more bombs to try to damage it.

Those are the advantages of decentralization. Since there is no central server that controls bitcoin, hackers or the government do not have a single point where they will attack. As far as I know, bitcoin lies on the internet itself so nobody can easily attack it, actually I do not know where they will attack bitcoin. So for me, if they want to kill bitcoin then they must kill internet first then the death of bitcoin follows.

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April 25, 2017, 06:49:01 PM
 #880

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.
Bitcoin is not difficult to destroy because it is online, bitcoin is difficult to destroy because it is not centralized, think of bitcoin as a guerrilla warfare, if you have a big army concentrated in a place that army can be wiped out with just a few bombs but if that army is all over the country then you need a lot more bombs to try to damage it.

Those are the advantages of decentralization. Since there is no central server that controls bitcoin, hackers or the government do not have a single point where they will attack. As far as I know, bitcoin lies on the internet itself so nobody can easily attack it, actually I do not know where they will attack bitcoin. So for me, if they want to kill bitcoin then they must kill internet first then the death of bitcoin follows.

Now it's difficult to destroy bitcoin, because everyone needs the Internet and will not be turned off just to destroy bitcoin.
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