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DaftAjax
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August 19, 2017, 04:35:53 PM |
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Actually it this situation is not THAT impossible. If governments of few biggest countries signed a treaty, some kind of deal that they want to ban bitcoin, the price would fall to the ground and bitcoin would basically die. For now, bitcoin is not such a big threat to government but in the future it might become.
That would not happen my friend, you see even if almost all countries have mutual treaties with each other we still can't avoid misunderstanding in some sort of way. I mean for example Chinese people brought illegal drugs to let's say Philippines and got caught, so this country will be forced to take charges to these persons. But the Chinese government will not just stand by and do nothing about it so, they will somehow try to retrieve their people and instead they will be punished in their country not in the country that they've violations with. |
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lavemytim
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August 19, 2017, 04:46:30 PM |
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Horses bitcoin will not happen soon. People wet their money, why would it be closed to him? Some kind of stupidity
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rabeh boukhnona
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August 19, 2017, 05:31:07 PM |
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I think Bitcoin will dead if someone hacked the system and generate a lot of coins! i think this is impossible
but who knows shit happens
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Skieleton
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August 19, 2017, 08:27:05 PM |
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Probably there is no way Bitcoin could cease to exist. Maybe only if governments manage to wrap their minds around legal ways how to prohibit Bitcoin.
The question of what will be like all 21 million will be extracted? This will happen after 2100 years. But this time we will be dead. |
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Ivan16
Member
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Activity: 98
Merit: 10
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August 19, 2017, 08:42:54 PM |
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I think if every country ban bitcoin and give some good reason for that,for example cannot collect taxes,this is one way,second if new value replacment bitcoin but this options is less possible in any cases there are small chances to die.
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RedditMaster
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Activity: 98
Merit: 10
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August 19, 2017, 10:38:39 PM |
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Bitcoin would possibly die if internet would be gone since we cant make any transactions since the chain would really be good as dead, you might holding the coins but you cant do anything about it.Another possibility that bitcoin would lost its users and would decide to dump all their coins and jump into another coin because bitcoin is just alive because the community uses it and once interest would be gone then for sure it would die.
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Lm2e4
Full Member
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Activity: 248
Merit: 100
https://exclusiveplatform.com/
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August 20, 2017, 12:23:01 AM |
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Maybe bitcoin die when the world ends. Because bitcoin (or any other cryptocurrency) offers us a lot oppurtunity to have a better life. And because of it's growing value there is no way for developers to ignore bad possible things to happen. So I believe it will end when there is no one uses it no more.
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crustycrab666
Full Member
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Activity: 560
Merit: 104
terra-credit.com
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August 20, 2017, 01:51:22 AM |
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When there are no more transactions. In other words there is no more demand and supply in the market cryptocurrency. As long as there is market activity, bitcoin will stay alive.
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nrvasquez
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August 20, 2017, 01:55:44 AM |
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How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
When one can compete with bitcoin in its own category. For example there is a developer who is genius enough to create a product similar to bitcoin, but with a different name but with the same capabilities but all above the bitcoin, and the price is below the bitcoin. That's when the investors will start leaving bitcoin and will switch to the latest technology to get something better than what bitcoin can do. |
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Xester
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August 20, 2017, 02:10:23 AM |
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How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
When one can compete with bitcoin in its own category. For example there is a developer who is genius enough to create a product similar to bitcoin, but with a different name but with the same capabilities but all above the bitcoin, and the price is below the bitcoin. That's when the investors will start leaving bitcoin and will switch to the latest technology to get something better than what bitcoin can do. I do not think that investors would drop bitcoin like a hot potato because of a new digital currency that are similar with bitcoin. Since it is new compared to bitcoin, how are they sure and what are the guarantees that it would be successful just like bitcoin. Many altcoins are created with the likeness of bitcoin, but they cannot beat bitcoin. Bitcoin will die I guess if there would be no more internet which is impossible, and if all the 21M bitcoin would be kept that there would be nothing left to mine or be in the circulation. |
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Chyton
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August 20, 2017, 02:13:15 AM |
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I would say because of quantum computers, quantum computers may break SHA-256 and other algorithm which means you can generate private address from public address unless a new never been known algorithm is invented.
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0t3p0t
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August 20, 2017, 02:16:11 AM
Last edit: August 20, 2017, 02:33:55 AM by 0t3p0t |
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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 if there is no demand I mean people would stop using it and that's impossible to happen or maybe because as what you have said that it's value decreases into like for example a dollar per coin? Well about legality I don't think it can be applied all over the world since developing countries started to embrace BTC and they even stated that they found BTC as a good investment. Countries with strict policy in cryptocurrencies like I think China even has it's own mining place most especially for BTC mining. I think they just regulated some exchanges to prevent illegal use of funds. Well for me, regarding the use of different technology it could be possible that there is a specific coin or new technology that people would find it more advance, more secure and or is better than BTC and, that may supersede BTC in the future and for now we can't tell what that coin is since BTC is now dominating all over the world with it's price going extremely high since it is the pioneering, the most people used and a trusted coin in history of cryptocurrency. |
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mx667
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August 20, 2017, 02:18:33 AM |
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That bothers me too, but im not sure. Everything is going to die, even the earth itself is going to die. But, what situation would Earth die ? Daily activity. It doesn't matter if Bitcoin die. We must have more than one money source. Not just Bitcoin. But I think, Bitcoin is not going to die soon. All we can do is hoping that Bitcoin will last long, and collect Bitcoin as much as we can. And as fast as we can.  |
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kyori
Sr. Member
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Activity: 335
Merit: 250
DECENTRALIZED CLOUD SERVICES
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August 20, 2017, 02:25:47 AM |
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On my own opinion bitcoin will die if world war three starts global economy will surely decrease or drop down. No ivestments, no tradings because of the situation.
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HEvangelista
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August 20, 2017, 02:26:35 AM |
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Only possible scenarios that I could think of would be the end of money (which is unlikely), higher technology that would make blockchain tech obsolete, big change in economic and financial zeitgeist all over the world, and possibly non usage by all.
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JTASSOCIATES
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August 20, 2017, 02:37:04 AM |
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When the world end the Bitcoin that time will die. Because under any circumstances digimoney wont go out of usage instead of die it will be very strong day by day even the rate of Bitcoin go down it wont be finish until the world end. Its my strong opinion.
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Opekin
Sr. Member
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Activity: 396
Merit: 252
CryptoTalk.Org - Get Paid for every Post!
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August 20, 2017, 02:47:33 AM |
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Only possible scenarios that I could think of would be the end of money (which is unlikely), higher technology that would make blockchain tech obsolete, big change in economic and financial zeitgeist all over the world, and possibly non usage by all.
I think we are too long way for that ,bitcoins is not totally at its existence and it might be our future money in online as internet is also growing, i only think how about the poor ones who can't afford to buy a cellphone so that they can use bitcoins and any others in the society. |
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Pattart
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August 20, 2017, 03:49:32 AM |
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Only possible scenarios that I could think of would be the end of money (which is unlikely), higher technology that would make blockchain tech obsolete, big change in economic and financial zeitgeist all over the world, and possibly non usage by all.
I think we are too long way for that ,bitcoins is not totally at its existence and it might be our future money in online as internet is also growing, i only think how about the poor ones who can't afford to buy a cellphone so that they can use bitcoins and any others in the society. First bitcoin is growing and growing, it may be very long time to survive. And secondly if bitcoin or blockchain technology is abandoned due to obsolete, i think it is wrong. Bitcoin and blockchain technology will continue to evolve according to the times, just as hardfork and segwit it is an example of bitcoin development that follows the circumstances and times |
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Natalim
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August 20, 2017, 05:01:23 AM |
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Only possible scenarios that I could think of would be the end of money (which is unlikely), higher technology that would make blockchain tech obsolete, big change in economic and financial zeitgeist all over the world, and possibly non usage by all.
I think we are too long way for that ,bitcoins is not totally at its existence and it might be our future money in online as internet is also growing, i only think how about the poor ones who can't afford to buy a cellphone so that they can use bitcoins and any others in the society. First bitcoin is growing and growing, it may be very long time to survive. And secondly if bitcoin or blockchain technology is abandoned due to obsolete, i think it is wrong. Bitcoin and blockchain technology will continue to evolve according to the times, just as hardfork and segwit it is an example of bitcoin development that follows the circumstances and times At the success we are seeing now and it's growing then for sure it's hard to stop bitcoin. Maybe we can see it will die if the biggest authority in this world which is the government will totally ban bitcoin. That is something we can't do anything with because they have the power to do it. |
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mastadonballs
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August 20, 2017, 05:17:55 AM |
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Only possible scenarios that I could think of would be the end of money (which is unlikely), higher technology that would make blockchain tech obsolete, big change in economic and financial zeitgeist all over the world, and possibly non usage by all.
I think we are too long way for that ,bitcoins is not totally at its existence and it might be our future money in online as internet is also growing, i only think how about the poor ones who can't afford to buy a cellphone so that they can use bitcoins and any others in the society. First bitcoin is growing and growing, it may be very long time to survive. And secondly if bitcoin or blockchain technology is abandoned due to obsolete, i think it is wrong. Bitcoin and blockchain technology will continue to evolve according to the times, just as hardfork and segwit it is an example of bitcoin development that follows the circumstances and times At the success we are seeing now and it's growing then for sure it's hard to stop bitcoin. Maybe we can see it will die if the biggest authority in this world which is the government will totally ban bitcoin. That is something we can't do anything with because they have the power to do it. But we don't need worry about this issue, Japan, Korea are the first country accept Bitcoin is legal, is new payment gate and asset for their country. I think other rich country as United Kingdom or United States skip the opportunity helps their economy give to other country in Asia. |
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