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Author Topic: In what situation would Bitcoin die?  (Read 101145 times)
Urban Crypto
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May 07, 2017, 08:23:32 AM
 #961

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
I know that i am late to this board, but it is my understanding that if one miner or owner of bitcoin controls more than 50% control they could potentially ruin the system.  Thoughts?

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May 07, 2017, 10:58:07 AM
 #962

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
I know that i am late to this board, but it is my understanding that if one miner or owner of bitcoin controls more than 50% control they could potentially ruin the system.  Thoughts?
No they can't, there is no capability for any one to have a control in bitcoin unless it is about the price of bitcoin, if a miner or owner or a whale (big investor) does have the 50% of the supply of bitcoin then he can dictate the price by dumping it to the point that he wants but it is very rare to happen and we should not be worry about it.

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May 07, 2017, 11:07:32 AM
 #963

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.


exacly. and making it go back to zero means that there will be no more demand to bitcoin. and i dont think it will happen that the market cap will go back to zero. bitcoin is becoming more popular right now and i dont think there will be something that will make it dead.

We should know that bitcoin is a business, we all are doing business with bitcoin and earn from it. So how we forget it every business has a lose, I mean may be one day we see bitcoin price is going down and down, than definitely people sell them, and then the day will come, when people left the bitcoin. So its mean bitcoin is die.
But i am very and faithful well wisher of bitcoin, so i don't want that the day will come when bitcoin die. But now still bitcoin is good and successful crypto curency, it will not die very soon.   
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May 07, 2017, 11:29:03 AM
 #964

Bitcoin will never die since there will be always people who will use it and it can change form to fit new times.
But it might not be the first global cryptocurrency anymore. If cost of transactions inside it's chain will be too high (and its also related to overall price of BTC) it might change more into passive store of value like physical gold. Then other more flexible and more inflative crypto might become one specialised in transactions and fast micropayments and working as decentralised exchange (maybe HEAT), other one in smart programable contracts like Ethereum, another one for finance creating cheap universal substitute of banking (stocks, currencies, commodieties exchange, ETFs, deals) working globally anywhere for everyone (Veritas).

Bitcoin is powerhouse of innovation for all other cryptos. In time it will specialise to fit it's best sides. But it will lose on other fields, inevitably since nothing perfect. That's just how evolution goes.   
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May 07, 2017, 01:00:47 PM
 #965

"legality issue can destroy bitcoin also. If the governments decide to ban all websites related to bitcoin and start cracking up bitcoin users"

How abot darknet?

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May 07, 2017, 07:48:30 PM
 #966

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
I know that i am late to this board, but it is my understanding that if one miner or owner of bitcoin controls more than 50% control they could potentially ruin the system.  Thoughts?

You can dump your coins

Provided you have any, of course. Otherwise, it is called a systemic risk, and this kind of risk is in fact omnipresent. It is essentially the same with fiat currencies. The government may go totally nuts today and start printing insane amounts of money like there's no tomorrow. That's why many people still prefer gold to any other form of money as a store of value, since it likely has the lowest risk of this type among all store-of-value investments. Though gold is not completely free of it either

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May 07, 2017, 08:23:53 PM
 #967

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.


exacly. and making it go back to zero means that there will be no more demand to bitcoin. and i dont think it will happen that the market cap will go back to zero. bitcoin is becoming more popular right now and i dont think there will be something that will make it dead.
You are right that now it is not possible to go back to zero as already people are getting benefit from it and the benefit is not decreasing for them but it is increasing day by day so in this case if someone will say that it will go back to zero and the bitcoin will die that it will be just nonsense of that person and he will not have any knowledge about bitcoin.

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May 07, 2017, 08:37:06 PM
 #968

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.


exacly. and making it go back to zero means that there will be no more demand to bitcoin. and i dont think it will happen that the market cap will go back to zero. bitcoin is becoming more popular right now and i dont think there will be something that will make it dead.
You are right that now it is not possible to go back to zero as already people are getting benefit from it and the benefit is not decreasing for them but it is increasing day by day so in this case if someone will say that it will go back to zero and the bitcoin will die that it will be just nonsense of that person and he will not have any knowledge about bitcoin.
Well, to be fair, there's no point in saying that something will never happen since there's always a chance, but looking at the market and community right now there is at least an incredibly minimal chance of anything of that sort happening.

The future can hold a lot of things, and there might be a crackdown on Bitcoin if it starts to snowball too hard with the average folk, but for right now it's not worth worrying about anything happening to the community that'll knock the value on its ass to $0.
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May 07, 2017, 09:28:54 PM
 #969

it's life depend on the people if pay attention to it.
no body pay by it,no body regard it as a investment ,it's life is end up.
Yeah bitcoin is depend on people when people stop demand of bitcoin and never use the bitcoin will be dead but we can see bitcoin is nowadays is the part of out life and its very difficult for us stop to use bitcoin.

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May 08, 2017, 06:39:49 AM
 #970

The future can hold a lot of things, and there might be a crackdown on Bitcoin if it starts to snowball too hard with the average folk, but for right now it's not worth worrying about anything happening to the community that'll knock the value on its ass to $0

That's not likely unless some really dramatic events are going to happen

That is, a Black Swan event of sorts, for example, if some flaw is discovered in the Bitcoin cryptoalgorithm that will render all coins (wallets) vulnerable to being cracked. Though that would be a black swan of all black swans event, the ultimate fiasco, so to speak. Apart from that, many people are in fact nervous that Bitcoin will continue its intrepid rise saying that such rise may lead to a severe crash later, while, in fact, they are just hoping to buy in cheap when the price goes down a few hundred dollars

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May 08, 2017, 08:46:06 AM
 #971

it's life depend on the people if pay attention to it.
no body pay by it,no body regard it as a investment ,it's life is end up.
Yeah bitcoin is depend on people when people stop demand of bitcoin and never use the bitcoin will be dead but we can see bitcoin is nowadays is the part of out life and its very difficult for us stop to use bitcoin.
Why do we need to stop bitcoin? We don't need to stop bitcoin because bitcoin is always giving us a lot of benefits from using it and bitcoin cannot die because of us or just a small that we can do, To make bitcoin die it needs a lot of bad things like having a very slow network and 0% of miners and that will be enough for bitcoin, but the good thing is, bitcoin will not encounter any of that because there is a lot of support for bitcoin that has been given by the miners and the community.

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May 08, 2017, 08:52:50 AM
 #972

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
Bitcoin has successfully overcome all the actions taken by banks and governments to destroy it.Now most governments have realized that bitcoin couldnot be destroyed and have started accepting bitcoins.But bitcoin may start facing difficulties when quantum computing will be introduced and i hope that it would take twenty more years to happen.
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May 08, 2017, 12:54:30 PM
 #973

If Bitcoin is banned this doesn't mean it will die. People will still find ways to use it without letting the police officers know. If there is no more internet a lot of people will commit suicide because internet is part of their daily life and they simply can't live without it. In no situation Bitcoin will die because its uses are growing more and more each passing day.
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May 08, 2017, 06:07:05 PM
 #974


If Bitcoin is banned this doesn't mean it will die. People will still find ways to use it without letting the police officers know. If there is no more internet a lot of people will commit suicide because internet is part of their daily life and they simply can't live without it. In no situation Bitcoin will die because its uses are growing more and more each passing day.

yes you are right that bitcoin can not be die in any situation because the users of bitcoin are increasing very much that if the government ban it then people will not stop to use it and if someone think that the absence of internet will be the cause of bitcoin end then i think that everyone in the world is so used to internet that it will not only affect the bitcoin but it will affect the life of everyone.

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May 08, 2017, 06:15:20 PM
 #975


If Bitcoin is banned this doesn't mean it will die. People will still find ways to use it without letting the police officers know. If there is no more internet a lot of people will commit suicide because internet is part of their daily life and they simply can't live without it. In no situation Bitcoin will die because its uses are growing more and more each passing day.

yes you are right that bitcoin can not be die in any situation because the users of bitcoin are increasing very much that if the government ban it then people will not stop to use it and if someone think that the absence of internet will be the cause of bitcoin end then i think that everyone in the world is so used to internet that it will not only affect the bitcoin but it will affect the life of everyone.
Guys if we still pursue to use Bitcoin even if it is illegal the Government has no choice but to take matters into their own hands. In a way which they will likely block all Bitcoin Wallet Services to their country. By that way for sure it would make it impossible to transact or even use Bitcoin at that country. Anything that revolves around the internet can be controlled by the government its just that right now they are not seeing Bitcoin as a threat to their national security.

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May 08, 2017, 08:19:19 PM
 #976

it's life depend on the people if pay attention to it.
no body pay by it,no body regard it as a investment ,it's life is end up.
Yeah bitcoin is depend on people when people stop demand of bitcoin and never use the bitcoin will be dead but we can see bitcoin is nowadays is the part of out life and its very difficult for us stop to use bitcoin.
you are right but people can not stop the demand of bitcoin i also using bitcoin in maximum online websites and i feel free with bitcoin and i feel my life is easy with bitcoin and i can say that bitcoin is the modern facility for me .

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May 08, 2017, 08:23:57 PM
 #977

Mainstream adaption of different coins like ETH, DASH, XMR can cause bitcoins to DIE
I think so
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May 09, 2017, 01:42:03 AM
 #978

there is possible that bitcoin will die if some of coins will get popular and being use as a payment method in other online earning sites.

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Ferris419
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May 09, 2017, 01:47:32 AM
 #979

there is possible that bitcoin will die if some of coins will get popular and being use as a payment method in other online earning sites.

I don't think that bitcoin will die only because some other altcoin will replace it as altcoins are too small in compare to bitcoins and not popular too and looking at the rise in bitcoins its really hard to believe that bitcoin can ever die in future.


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LegendOF45
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May 09, 2017, 02:02:45 AM
 #980

No altcoin, we all know that the presence of altcoin contributed to the increase and the use of the bitcoin so, trading with altcoin is a fact that makes the circulation of bitcoin's getting massive, without altcoin bitcoin will die.

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