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Author Topic: In what situation would Bitcoin die?  (Read 96041 times)
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May 03, 2017, 06:12:15 PM
 #921

If internet era comes to an end or the price of bitcoins goes to zero level then bitcoin will surely die as without internet bitcoin is nothing and you would be never in position to use or earn bitcoins if internet goes dead.

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May 03, 2017, 07:04:46 PM
 #922

There are many different situations and aspects for bitcpin to die. First one when all bitcoins are mined : Now we all know bitcoin has a supply limit so after all bitcoins are mined people will start selling their coins as price growth will be low and mostly by 2060 it will be over.
Other thing that can happen is countries banning the use of bitcoin or actually holding any coins or in online wallets.

i'm not sure with your statement, even though the whole bitcoin has been mined which estimated in the next 100 years not 50 or 40 years. miner would always needed to proccess the transaction , so it's not the reason bitcoin gonna die, things could make bitcoin die and disappear are when there's no interest in bitcoin due too high fee and too long confirmation proccess for example.
The last 2 issues are currently facing most of the users in the community. The fees has significantly increased and the time for confirmations is 2-4 hours or sometimes even more. It is really hard to say and think that people will actually lose interest in bitcoin specially when the price is at it's highest at the current state

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May 03, 2017, 07:46:28 PM
 #923

Bitcoin will never die
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May 03, 2017, 07:49:36 PM
 #924

Bitcoin will never die

Lol how can you sure about that bitcoin will never die? If people will stop using bitcoins or if price of bitcoins drops dramatically then there is a full chance that bitcoin will die and people will move to some other investments.

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May 03, 2017, 07:50:22 PM
 #925

There are many different situations and aspects for bitcpin to die. First one when all bitcoins are mined : Now we all know bitcoin has a supply limit so after all bitcoins are mined people will start selling their coins as price growth will be low and mostly by 2060 it will be over.
Other thing that can happen is countries banning the use of bitcoin or actually holding any coins or in online wallets.

i'm not sure with your statement, even though the whole bitcoin has been mined which estimated in the next 100 years not 50 or 40 years. miner would always needed to proccess the transaction , so it's not the reason bitcoin gonna die, things could make bitcoin die and disappear are when there's no interest in bitcoin due too high fee and too long confirmation proccess for example.
The last 2 issues are currently facing most of the users in the community. The fees has significantly increased and the time for confirmations is 2-4 hours or sometimes even more. It is really hard to say and think that people will actually lose interest in bitcoin.

This is very classic problem, and the issue of segwit vs BU will always appear in search for a solution to this, it will always mempool flooded in the future if there is no clarity about the size used in each transaction, but don't worry because it is still far from our estimates, now segwit already sought 2-4 mb size for each bloksize

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May 03, 2017, 08:10:25 PM
 #926

If everyone stopped mining it. Even so I'm not sure if the network would stop. Could nodes prevent such a thing from happening?
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May 03, 2017, 10:49:16 PM
 #927

If everyone stopped mining it. Even so I'm not sure if the network would stop. Could nodes prevent such a thing from happening?
The production of bitcoin once stopped wine is equal, but this does not mean that bitcoin is the end. Just he has a limit, like gold.
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May 04, 2017, 06:29:00 AM
 #928

If internet era comes to an end or the price of bitcoins goes to zero level then bitcoin will surely die as without internet bitcoin is nothing and you would be never in position to use or earn bitcoins if internet goes dead.

And so can't most business operate without the Internet. Even banks which is a huge part of the economy will not be able to operate. When the Internet goes down, it will cause panic to people and it's one of the things that the government will solve right away. Every single day of my life since I had a phone, I've been using the Internet. Not being able to access it is chaos to most people.

Bitcoin will not go to zero level unless it's already dead. I even doubt that bitcoin will ever reach zero price since there will always be people buying bitcoins just to collect it when it gets a really low price.


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May 04, 2017, 06:47:23 AM
 #929

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

When it is in the leave by its users, then not bitcoin will die

Probably one of the most viable reason that will lead to the death of bitcoins. If every users of bitcoins decide to leave the industry which is possible one reason for the bitcoins to meet its demise but as far as bitcoins continuously develops and with a steadily number of users it is still far from impossible that bitcoins will die. Unless someone successfully sabotage bitcoins then no one knows.
i don't think this will happen in near future. it is gaining popularity day by day and it is the mostly used currency on internet right now. yes the only way that it should be die when its user wants it to die but i don't think they ever wants. 

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May 04, 2017, 03:02:27 PM
 #930

Bitcoin will never die
Bitcoin is difficult to kill and it is very resistant to any attempt to do so but to think bitcoin cannot die is a mistake, that kind of thinking is precisely what can kill bitcoin, people thought the Titanic was unsinkable and that thought led the Titanic to sink in its maiden voyage.



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May 04, 2017, 03:37:47 PM
 #931


Bitcoin will die if miners stop mining it.  Which is somehow impossible to happen.  But if in case miners stop mining Bitcoin, no one will process the transaction making chaos in economic scale of Bitcoin.  Then once transaction stops to confirm then users will look for alternative.  So I think life and death of Bitcoin starts with miners.
but if in case miners halt mining Bitcoin, nothing will process the transaction making a mess in the economies of scale of the Bitcoin. Then after it stops transactions to confirm the user will look for an alternative, and I expect this will probably not happen, because the bitcoin so important to me

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May 05, 2017, 07:21:44 AM
 #932

I think bitcoin will die if there is world war!!!
bitcoin as of today is very known to all the world as digital currency and it's gaining its power to the highest level of amount value than other local currency and used to all of the country as of now.

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May 05, 2017, 07:24:07 AM
 #933

I am new to crypto trading world, so i do not know yet much about this world.
I am still Learning.
I am trying to understand that which is the best site for exchanges,
Like i tried Yobit first that have a lot scam coins those come today and dead tomorrow, and i lost a lot there...
I tried Polo, but there withdrawal and deposit period is also too long.

So I will request the senior traders to please mention the best exchange sites where i also could secure my self from losses and i could work there peacefully.

Regards,

Raja Adnan Raouf
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May 06, 2017, 04:56:19 AM
 #934

Bitcoin will never die

Lol how can you sure about that bitcoin will never die? If people will stop using bitcoins or if price of bitcoins drops dramatically then there is a full chance that bitcoin will die and people will move to some other investments.
You're correct and that's why we need the help of the attorney, law enforcement agency, the government, the media and developers etc. If all the name mention put the effort to make bitcoin great there won't a situation for bitcoin to die.

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May 06, 2017, 06:35:00 AM
 #935

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 will die in a sense of if the day comes that the number of people who are using it is rapidly decreasing and when it comes to time tgat no one will ever use bitcoin. In that situation bitcoin will sie because the popularity of it is gone and no one will ever want to earn it. And the other situation is that if there is a new digital currency that will be popular and better that bitcoin.

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May 06, 2017, 06:39:15 AM
 #936

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

Bitcoin would end up only, if all users will be gone away or disappear in this industry, and that will happen only if the features of bitcoin will no longer be implement and not function properly which might cause of the community be get disappointed unto it. which will lead the value goes down into zero.

Ofcourse because the popularity of the bitcoin depends on the people who are using it. If that number of people are perfectly gone bitcoin will soonly die because of people are not using anymore. And the worst situation is that if there are another cryptocurrency that have been invented and can overcome bitcoin because of i'ts better and good value or ways of earning.

nethan1btc
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May 06, 2017, 07:00:36 AM
 #937

If we come up to a worst situation that makes bitcoin die as a currency, I think that the main situation of it's price in the market will sadly drop down and worst is nobody will be spending and exchanging digital currency anymore. With that certain happening in bitcoin would make bitcoin die and economy sytem will be gone to people's mind, that this freedom earning and investing digital currency will only remain as a history. But I don't expect that to become possible and as we can see the  current demand of bitcoin really rises so high together with it's price update in the market.

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May 06, 2017, 07:10:44 AM
 #938

Except where there is no human on earth.
I don't think there is anything that will kill bitcoin.
Bitcoin has at a point that nothing will destroy or stop it.

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May 06, 2017, 08:21:23 AM
 #939

Except where there is no human on earth.
I don't think there is anything that will kill bitcoin.
Bitcoin has at a point that nothing will destroy or stop it.

Yes there's no way to destroy bitcoin right now, the only way that I can see to make bitcoin dead is making it's market cap get back to zero. But that is very impossible to happen, because it's already a chart of bitcoin that every day counts the market cap of bitcoin gets higher and there's more people that are investing.

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May 06, 2017, 08:25:26 AM
 #940

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

Bitcoin would end up only, if all users will be gone away or disappear in this industry, and that will happen only if the features of bitcoin will no longer be implement and not function properly which might cause of the community be get disappointed unto it. which will lead the value goes down into zero.

Ofcourse because the popularity of the bitcoin depends on the people who are using it. If that number of people are perfectly gone bitcoin will soonly die because of people are not using anymore. And the worst situation is that if there are another cryptocurrency that have been invented and can overcome bitcoin because of i'ts better and good value or ways of earning.
Yeah that is how important the user or the demand that bitcoins have. If bitcoin doesn't have any kind of demand then its market will be useless and there will be no money circulating to the market that will cause the price of bitcoin to be stuck or be dumped so hard until bitcoin becomes a worthless thing and eventually died.

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