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Author Topic: In what situation would Bitcoin die?  (Read 101276 times)
MWesterweele
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March 29, 2017, 05:15:08 PM
 #541

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

It will die if no one will be ever use it, or no one can be ever to invest on it. Currencies must be circulate in order for it to live longer and cannot be overcome by other currencies.

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March 29, 2017, 05:54:49 PM
 #542

Bitcoin will die only if the price of bitcoin falls to zero level but I don't think that is ever going to happen as price will keep on going higher and higher in future as and we will see more people start adopting bitcoins in near future;

Even if Bitcoin was $0.00 the transactions of the coins would remain active. When or if Bitcoin reaches that price then people would have the choice to either pay for things with Bitcoin decimals or using another barter product. For the price reaching $0.00 another type of payment would get released by a higher class individual/individuals and digital transactions would get used a bunch more than it is right now.
Bitcoin would die if the whole system just stopped functioning (Blockchain doesn't have any new confirmations, the wallets won't sync, etc).


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March 30, 2017, 03:07:44 AM
 #543

Bitcoin will die only if the price of bitcoin falls to zero level but I don't think that is ever going to happen as price will keep on going higher and higher in future as and we will see more people start adopting bitcoins in near future;

Even if Bitcoin was $0.00 the transactions of the coins would remain active. When or if Bitcoin reaches that price then people would have the choice to either pay for things with Bitcoin decimals or using another barter product. For the price reaching $0.00 another type of payment would get released by a higher class individual/individuals and digital transactions would get used a bunch more than it is right now.
Bitcoin would die if the whole system just stopped functioning (Blockchain doesn't have any new confirmations, the wallets won't sync, etc).

Even what you are saying might be true, but with the price of the bitcoin reaching a low value the number of people using it will keep on decreasing and although a few people will keep using it that want be enough to keep it alive because it needs more than just normal people to use it but also investors and places where it can be spent on.

Otherwise those same people still believing in it will eventually stop using it too it will be just a waste of their time and effort, and personally I don’t see that happening at all.

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March 30, 2017, 10:37:07 AM
 #544

Bitcoin will die only if the price of bitcoin falls to zero level but I don't think that is ever going to happen as price will keep on going higher and higher in future as and we will see more people start adopting bitcoins in near future;

Of course if the price crashes any coin will die. But this is the result. What is the cause where the bitcoin price will be zero? To my point of view this will happen, if people loose their faith about bitcoin; If people go to the next big thing; That means bitcoin has value because people want it. Therefore, if they stop to believe after a while bitcoin will die.
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March 30, 2017, 06:33:13 PM
 #545

:)There are lots of things that could able to make bitcoin die. 1st. No one will use any cryptocurrency 2nd. There would be a new crypto that would replace bitcoin 3rd. No internet 4th. All government would ban it globally. and there are lots to mention but still we know that bitcoin wont die easily.
considering in the current situation all of things you have mentioned above looks like won't happened in the near future , people should feel fine and secure bitcoin won't die soon. but always worth to calculate everything include to anticipate this kind scenario.

also about bitcoin ban in around the world ,i don't think any institution can do that. bitcoin are decentralized.

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March 30, 2017, 07:56:25 PM
 #546

:)There are lots of things that could able to make bitcoin die. 1st. No one will use any cryptocurrency 2nd. There would be a new crypto that would replace bitcoin 3rd. No internet 4th. All government would ban it globally. and there are lots to mention but still we know that bitcoin wont die easily.
As many have said before, a ban on bitcoin will only make it illegal but it will not stop people from holding it just look at all the things that are illegal and that people still use, about your second point  even if a new crypto appeared that replaced bitcoin that does not mean that bitcoin will stop being used by the people.



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March 31, 2017, 10:24:09 AM
 #547

:)There are lots of things that could able to make bitcoin die. 1st. No one will use any cryptocurrency 2nd. There would be a new crypto that would replace bitcoin 3rd. No internet 4th. All government would ban it globally. and there are lots to mention but still we know that bitcoin wont die easily.
As many have said before, a ban on bitcoin will only make it illegal but it will not stop people from holding it just look at all the things that are illegal and that people still use, about your second point  even if a new crypto appeared that replaced bitcoin that does not mean that bitcoin will stop being used by the people.

If Bitcoin is made illegal its usage will diminish dramatically

It simply doesn't make sense to use something illegal when it has many legal alternatives (e.g. cash is better suited for illegal activities since it in general doesn't leave "fingerprints" on the blockchain). The things that which you refer to and which are still being used when outright banned don't have full substitutes, like, for example, drugs, so drug addicts don't care if the drugs they use are legal or not. Bitcoin is nowhere near that. Indeed, there may be a number of Bitcoin addicts but they are few and far in between
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March 31, 2017, 10:29:10 AM
 #548

I couldn't be bothered reading every page but has a nuclear bomb zombie apocalypse in a world with no means of power been mentioned yet  Cheesy  Tongue

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March 31, 2017, 11:07:40 AM
 #549

Bitcoin would stop if it is banned, or if there is not more internet. and better still if rapture happens.Lol
of course bitcoin will die when the Internet disappeared. because the only way to access the bitcoin is with the internet. but bitcoin will not die even if the whole world ban bitcoin
Correct a world wide ban on bitcoin will slow down adoption and will make more difficult many of the things we take for granted but many of the people that hold bitcoin may decide to keep it anyway but the price will probably take a big hit since many will sell to get out of bitcoin if a ban was on sight.
maybe the tire was going to make people's interest to adopt bitcoin. and tires will also adversely affect the bitcoin. but it will not make a person the user stops using bitcoin
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March 31, 2017, 12:09:19 PM
 #550

Bitcoin would stop if it is banned, or if there is not more internet. and better still if rapture happens.Lol
of course bitcoin will die when the Internet disappeared. because the only way to access the bitcoin is with the internet. but bitcoin will not die even if the whole world ban bitcoin
Correct a world wide ban on bitcoin will slow down adoption and will make more difficult many of the things we take for granted but many of the people that hold bitcoin may decide to keep it anyway but the price will probably take a big hit since many will sell to get out of bitcoin if a ban was on sight.
maybe the tire was going to make people's interest to adopt bitcoin. and tires will also adversely affect the bitcoin. but it will not make a person the user stops using bitcoin

I am also sure that no ban can completely stop using crypto currency.
The main reason that bitcoin can die is the loss of people's interest. But this will not happen
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March 31, 2017, 02:11:13 PM
 #551

I think in case if the electrons suddenly refuse to run all over the world, Bitcoin would die. As well as a milk in your fridge  Grin
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March 31, 2017, 02:16:25 PM
 #552

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 it will be dead when it no longer be secure, if it can be breached, stolen easily, it will be dead. The most great thing about it is the ownership of it, apart from the decentralization of course. So these two things would have to die before bitcoin is dead.
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March 31, 2017, 02:32:13 PM
 #553

I think in case if the electrons suddenly refuse to run all over the world, Bitcoin would die. As well as a milk in your fridge  Grin
As quoted bitcoin network along with the entire digital currency community depend upon the internet for the successful functioning. As concerned day by day internet related development have been found towards growth and not towards decline. So bitcoin lives long.




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March 31, 2017, 02:50:14 PM
 #554

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
Maybe lose the bitcoin when no internet in the world or there was war everywhere. Because there will be no communication on the internet and also lost miners in bitcoin. I think it's just how to die bitcoin.
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March 31, 2017, 02:55:44 PM
 #555

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 it will be dead when it no longer be secure, if it can be breached, stolen easily, it will be dead. The most great thing about it is the ownership of it, apart from the decentralization of course. So these two things would have to die before bitcoin is dead

It is not  clear what you refer to here

That is, I'm not quite certain that I understand what you mean by Bitcoin being breached or stolen easily. If someone is not cautious and careful in respect to providing enough security for his wallets, his bitcoins can be and likely will be stolen easily. But this obviously has nothing to do with Bitcoin as such. If you go shopping with Benjamins sticking out of your pockets and they get stolen, that doesn't mean you should blame the Fed that they print insecure dollars. On the other hand, if you refer to security of cryptography behind Bitcoin, it is state of the art cryptographic technology which is available today, and if it gets hacked, nevertheless, many other things will become vulnerable, not just Bitcoin
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March 31, 2017, 03:03:34 PM
 #556

Altcoins are way profitable than bitcoins. If you join bounty campaigns for altcoins, it is far much more than what you'll get from campaigns that pay with bitcoins. In terms of trading, altcoins are much more profitable as well since it's more volatile than bitcoins. Maybe not all altcoins but the type of altcoin that gets hyped up even before it gets listed to an exchanger.

If the government will ban bitcoins permanently, people will just use a different cryptocurrency which is probably a better upgrade of bitcoins

Evidently, this is only half-truth (and half truths are often worse than outright lies)

Altcoins may be potentially more profitable than Bitcoin but this comes at a cost of being more risky. In other words, saying that altcoins are more profitable than Bitcoin is paradoxically the same as claiming that altcoins are in fact more loss-making than Bitcoin. This paradox is resolved when you don't forget to mention (which you do) that these are only potential profits which come quite in line with potential losses that someone trading altcoins may incur. That seems to be the whole truth now
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March 31, 2017, 08:25:20 PM
 #557

Altcoins are way profitable than bitcoins. If you join bounty campaigns for altcoins, it is far much more than what you'll get from campaigns that pay with bitcoins. In terms of trading, altcoins are much more profitable as well since it's more volatile than bitcoins. Maybe not all altcoins but the type of altcoin that gets hyped up even before it gets listed to an exchanger.

If the government will ban bitcoins permanently, people will just use a different cryptocurrency which is probably a better upgrade of bitcoins

Evidently, this is only half-truth (and half truths are often worse than outright lies)

Altcoins may be potentially more profitable than Bitcoin but this comes at a cost of being more risky. In other words, saying that altcoins are more profitable than Bitcoin is paradoxically the same as claiming that altcoins are in fact more loss-making than Bitcoin. This paradox is resolve when you don't forget to mention (which you do) that these are only potential profits which come quite in line with potential losses someone trading altcoins may incur. That seems to be the whole truth
currently i do not think that there is any single currency which can be profitable more than bitcoin. as bitcoin is becoming more and more profitable as compare to any other crypto currency.
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March 31, 2017, 11:53:59 PM
 #558

Altcoins are way profitable than bitcoins. If you join bounty campaigns for altcoins, it is far much more than what you'll get from campaigns that pay with bitcoins. In terms of trading, altcoins are much more profitable as well since it's more volatile than bitcoins. Maybe not all altcoins but the type of altcoin that gets hyped up even before it gets listed to an exchanger.

If the government will ban bitcoins permanently, people will just use a different cryptocurrency which is probably a better upgrade of bitcoins

Evidently, this is only half-truth (and half truths are often worse than outright lies)

Altcoins may be potentially more profitable than Bitcoin but this comes at a cost of being more risky. In other words, saying that altcoins are more profitable than Bitcoin is paradoxically the same as claiming that altcoins are in fact more loss-making than Bitcoin. This paradox is resolve when you don't forget to mention (which you do) that these are only potential profits which come quite in line with potential losses someone trading altcoins may incur. That seems to be the whole truth
currently i do not think that there is any single currency which can be profitable more than bitcoin. as bitcoin is becoming more and more profitable as compare to any other crypto currency.
maybe some altcoin have a pretty good of technology example ETH. they have the potential to compete with bitcoin. for it is profitable for altcoin more volatile but it is more risky than bitcoin?

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April 01, 2017, 12:16:11 AM
 #559

I think bitcoin will continue to grow in many countries such as the growth of prices continue to rise
And bitcoin will not be replaced as the largest digital currency that has a fantastic price so that it can sajajar with real currency.
I'm using bitcoin for business purposes as well as my trading business

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April 01, 2017, 12:27:24 AM
 #560

One word: obsolescence

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