Bitcoin’s Final Obituary?

[Cindy23]

Bitcoin has ”died“ over 100 times.
It died in 2013 after the collapse of its biggest online exchange Mt Gox. Back then, bitcoin obituaries were all over the Internet. Earlier this year, the price of bitcoin abruptly fell from $1,161 to $889 as People’s Bank of China (PBoC) was stepping up its efforts to regulate the market. And when Chinese bitcoin exchanges have disabled withdrawals of the cryptocurrency, people gathering at forums keep asking if bitcoin is doomed. But bitcoin just refuses to die this way and it has showed the world its resilience. And obviously, what doesn’t kill bitcoin makes it stronger.
But things are slightly different this time. Over the past several weeks, as everyone in the community wondering if BU would be activated, bitcoin is unavoidably said to die again. Will a hard fork sentence bitcoin to death?

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[pedrog]

Bitcoin has ”died“ over 100 times.
It died in 2013 after the collapse of its biggest online exchange Mt Gox. Back then, bitcoin obituaries were all over the Internet. Earlier this year, the price of bitcoin abruptly fell from $1,161 to $889 as People’s Bank of China (PBoC) was stepping up its efforts to regulate the market. And when Chinese bitcoin exchanges have disabled withdrawals of the cryptocurrency, people gathering at forums keep asking if bitcoin is doomed. But bitcoin just refuses to die this way and it has showed the world its resilience. And obviously, what doesn’t kill bitcoin makes it stronger.
But things are slightly different this time. Over the past several weeks, as everyone in the community wondering if BU would be activated, bitcoin is unavoidably said to die again. Will a hard fork sentence bitcoin to death?

I don't think so, but it might make lose its dominance, Ethereum is gaining utility everyday, more and more projects built on top of Ethereum's network and all this can obe seen in its valuation, if the scaling blockade doesn't terminate bitcoin will lose its dominance.

[franky1]

guys.
you have been fed a script of hidden meaning. where by soft vs hard has been pushed out as softs best case scenario and hard's worse case scenario. and treated as if thats the only 2 options.

what you dont realise is soft can also cause splits. and hard can also keep the chain united.

for clarity

soft and hard is simply:
soft: pool only vote
hard: nodes and pools vote

below these umbrella terms is what could happen.. in both hard and soft it can either continue as one chain. or bilateral split
softfork: consensus - >94% pools no banning/ignoring of minority. result: small 5% orphan drama then one chain. minority unsynced and dead
softfork: controversial - >50% pools no banning/ignoring of minority. result: long big% orphan drama then one chain. minority unsynced and dead
softfork: bilateral split - intentionally ignoring/banning opposing rules and not including them. result: 2 chains

hardfork: consensus - >94% nodes, then >94% pools no banning/ignoring of minority. result: 5% orphan drama then one chain. minority unsynced / dead
hardfork: controversial - >50% nodes, then >50% pools no banning/ignoring of minority. result: big% orphan drama then one chain. minority unsynced / dead
hardfork: bilateral split - intentionally ignoring/banning opposing rules and not including them. result: 2 chains


core do have network splitting code in thir bip9 soft activation
here is their lord speak of such

BIP9 changed to a new quorum sensing approach that is MUCH less vulnerable to false triggering, so 95% under it is more like 99.9% [A] under the old approach.  basically when it activates, the 95% will have to be willing to potentially orphan the blocks of the 5% that remain
If there is some reason when the users of Bitcoin would rather have it activate at 90%  ... then even with the 95% rule the network could choose to activate it at 90% just by orphaning the blocks of the non-supporters until 95%+ of the remaining blocks signaled activation.

[A] basically leading to core centralism of 100% control by core

P.S
those thinking "china control bitcoin".
1. it was cor that gave pools the vote. bypassing user voting privilege. so dont blame the pools.
2. also not as many pools as you may think or as much hashpower as you may think is in control of china
3. if your still wanting to blame china. please stop watching fox news to lower your racial tendencies hypnotised into you. and stop reading reddit to not be fooled into the misdirects of core blaming everyone else, bar themselves

[zero1ten]

BTC miners should realize that there are a lot of other altcoin options for users to switch to. It's no longer the case when bitcoin was the only cryptocurrency out there, and miners might regret it in the end when most users shy away from bitcoin for good. Bitcoin economy essentially works the same as any other thing, it's just a matter of supply and demand.

[crazyivan]

Bitcoin market cap s reached $20 billion. That s more then annual GDP of some states.

You simply cannot kill that large economy, not anymore.

BU will end up as ETH classic, another alt which will be popular for time and die.

[-ck]

Can't advertise this site enough:
https://99bitcoins.com/bitcoinobituaries/

Bitcoin has in fact died 125 times to date

[Quartx]

Yet another "Will Bitcoin die again post" , haha

Simply put, bitcoin has proved to be the unkillable cryptocurrency. Fear of adoption has been lived through, fear of an alternative crypto taking over (like eth) is also not really possible given the state of ltc or eth. Bitcoin has pretty much outlived all bad market and investor sentiment to continue being a strong competitor to one day replace fiat currencies.

I am a core supporter, however I acknowledge the need for faster transactions. If only there was another way to solve the problem instead of being a battle between 2 Goliaths (Core or BU).

Like many others have mentioned, a soft fork might not be a good thing, if a hark fork really happens and the current core chain is still widely supported and get longer than BU, bitcoin still survives. If BU gets all miners to their side, bitcoin still survives, abeit not the way I hope it to happen.

[Energet]

There is no denying the fact that the potential of bitcoin is not limited to transactional cost savings.
The secret of bitcoin lies in the underlying "block chain" – a secure digital ledger on bitcoin networks that keeps track of bitcoins by recording every single transaction. It facilitates agreement by all parties as to who owns how many bitcoins.

[iCEBREAKER]

Can't advertise this site enough:
https://99bitcoins.com/bitcoinobituaries/

Bitcoin has in fact died 125 times to date

Now Bitcoin is up to 181 deaths.  Should we make an Obituary Observer thread?

And that's not counting this one.  Look at these stupid DashHoles LOL

https://www.dashforcenews.com/bitcoins-impending-economic-suicide/

[TomUyamot]

Bitcoin is so healthy that it will live forever.  FUDs have been attacking bitcoin ever since its inception, but it did not do much to bitcoin itself nor to its market value. On the contrary, there is an incredible growth to its price. Known men, especially those that are coming from the banking industry and other financial institutions, are saying a log of adverse comments about bitcoin. But again to no avail. They better join us because they cannot kill us.

[szpalata]

Bitcoin is so healthy that it will live forever.  FUDs have been attacking bitcoin ever since its inception, but it did not do much to bitcoin itself nor to its market value. On the contrary, there is an incredible growth to its price. Known men, especially those that are coming from the banking industry and other financial institutions, are saying a log of adverse comments about bitcoin. But again to no avail. They better join us because they cannot kill us.

I bet it is and bitcoin will continue to live even after the death of such folks who cease every opportunity to run it down. I can't comprehend the hatred these guys have  for bitcoin but with time nemesis will catch up with them and they will rue for not joining us.

[nightrider]

Bitcoin has ”died“ over 100 times.
It died in 2013 after the collapse of its biggest online exchange Mt Gox. Back then, bitcoin obituaries were all over the Internet. Earlier this year, the price of bitcoin abruptly fell from $1,161 to $889 as People’s Bank of China (PBoC) was stepping up its efforts to regulate the market. And when Chinese bitcoin exchanges have disabled withdrawals of the cryptocurrency, people gathering at forums keep asking if bitcoin is doomed. But bitcoin just refuses to die this way and it has showed the world its resilience. And obviously, what doesn’t kill bitcoin makes it stronger.
But things are slightly different this time. Over the past several weeks, as everyone in the community wondering if BU would be activated, bitcoin is unavoidably said to die again. Will a hard fork sentence bitcoin to death?

Bitcoins never die, there are always events, and it's just hard to beat the bitcoin, so it becomes more complete. For a long time, bitcoin may have lost its dominance in the market, but it won the trust of everyone.