Bitcoin is gonna die soon!

[RoommateAgreement]

Bitcoin has several major crashes. It always returns stronger. Always. The loner you are in crypto the more you will see this is true. Bitcoin will never die. Maybe one day far in the future it may becomes marginalized but it will never die.

Bitcoin is very tough and strong and it can never be stopped by simple problems and attacks. There was the bubble in 2013 but it did not stop bitcoin to grow. Another was the problem on the blocksize that threatened bitcoins existence and yet it continue to excel. Several issues on hacking huge exchanges causing them to lose billions of investment but it was not enough to take down bitcoin.

I think bitcoin can possibly die, because the hackers are making move on their project call OP wannacry ransomeware and last week it happen and the bitcoin price dump very large and this week they are planning to make a new launch which is 2.0 of that project and that ransomeware is no kill switch so expect the dump and the worst is bitcoin will be dead.

you are saying a bunch of stuff that are completely irrelevant to each other!
the wannacry ransomeware is just a ransomeware or malware like any other, and just like many other things it is using bitcoin. the amount of its usage is too tiny it is not even counted. there are small businesses out there that have more volume that it had. it is just the media that is focusing the attention on it and bolding bitcoin part of it.
also price has nothing to do with it. it has been in a small bubble and we needed a correction as everyone expected that happened.

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[The_prodigy]

Bitcoin has several major crashes. It always returns stronger. Always. The loner you are in crypto the more you will see this is true. Bitcoin will never die. Maybe one day far in the future it may becomes marginalized but it will never die.

Bitcoin is very tough and strong and it can never be stopped by simple problems and attacks. There was the bubble in 2013 but it did not stop bitcoin to grow. Another was the problem on the blocksize that threatened bitcoins existence and yet it continue to excel. Several issues on hacking huge exchanges causing them to lose billions of investment but it was not enough to take down bitcoin.

i totally agree with you, it cannot be pull down by anything that has been trying to push it down, bitcoin has been going stronger for many years , and it is gaining its value more often , and people are more interested on it , and people invested some of their money there in bitcoins because they see the potentials in bitcoins. bitcoin will be stronger and stronger and the value will continiously go higher.

[marseille]

There is very least possibility that bitcoin will die in future as it is still in its early days and still it has managed to achieve good price so in future when bitcoin will get more older and will become more popular its price will  be even higher.

[Sadlife]

Bitcoin will simply not die why? Because it simply can't.
The transaction is slow ? It's fine for me my 0.01 got confirmed in in just 5 mins, why? Because i know how to use bitcoin properly.
Even if segwit doesn't get implemented it's fine we still have other options and transaction seems still convenient, segwit will only get implemented if we exhaust all our options or emergencies.
Im sure proposal will be presented regarding the bitcoin scaling solution, so why rush?

[Farma]

I do not think it's easy to turn off something that has a very high price, especially bitcoin. If it's altcoin, of course it's possible, but it's very hard to imagine bitcoin die, because it will make a lot of people lose. So I guess, bitcoin will not die that easily, because it will always be updated.

[Juggy777]

Bitcoin is gonna die soon because of too high fees and too slow transactions. It is becoming a very bad quality payment system, with no relevant pros in using it.


Now I see 4 different scenarios that could happen in the next months:

• Bitcoin developers will solve these scaling problems and Bitcoin returns to be the cheap and fast payment system it was some years ago.
• Bitcoin users will move all their BTCs to the so-called "altcoins". Most of these altcoins are already far better than BTC, regarding technical specs, confirmation time, privacy, etc. Dash, Monero, DOGE, LTC, etc. all of them are better than Bitcoin.
• Bitcoin transaction will become less and less because its users will just hold their coins. Thus BTC would become a sort of digital asset, with no actual use as a payment system. (Note that Satoshi thought of Bitcoin mainly as an innovative payment system)
• People will get tired of cryptocoins and move back to the ol' banking system.

Which one do you prefer and which one do you predict?

The first one that bitcoin developers will figure out and sort it out for us, and that's what I have always believed from the start. Yes there are problems, frustrations all around but trust me solutions will come, we all need to focus on solutions and be far more positive. Negativity won't help us, we have come to far to let it all go. I would request you to add another scenario we all get together and support it, irrespective of the problems and help it through a tough time.

[Yakamoto]

Bitcoin has several major crashes. It always returns stronger. Always. The loner you are in crypto the more you will see this is true. Bitcoin will never die. Maybe one day far in the future it may becomes marginalized but it will never die.

Bitcoin is very tough and strong and it can never be stopped by simple problems and attacks. There was the bubble in 2013 but it did not stop bitcoin to grow. Another was the problem on the blocksize that threatened bitcoins existence and yet it continue to excel. Several issues on hacking huge exchanges causing them to lose billions of investment but it was not enough to take down bitcoin.

i totally agree with you, it cannot be pull down by anything that has been trying to push it down, bitcoin has been going stronger for many years , and it is gaining its value more often , and people are more interested on it , and people invested some of their money there in bitcoins because they see the potentials in bitcoins. bitcoin will be stronger and stronger and the value will continiously go higher.

Again, it comes down to the community support and the faith the community has in Bitcoin as a whole. As long as the community remains present and they are active doing things within the economy, be it spending, trading or working, then there is a significant chance that Bitcoin will continue to be fine for a long period of time. If it doesn't keep going down that path, however, then it has the potential to die. Is that likely? No.

[freebutcaged]

An important lesson for some newbies;

Bitcoin has been an opened source experimental software with the A-Z publicly available from the start, every thing is transparent and visible and the serious miners/users have reviewed it before using and investing their money, they know all about it and current situation is not about the code, it's about the people using it.

Satoshi has done a great job and he was more focused on how to ensure the decentralization and immutability, in fact he did his job so well that caused this stalemate, you can't blame him or Bitcoin, you should start blaming miners because even I could code a crypto currency and offer it but only if anyone used it which are miners, no one to blame but miners who are stalling progress.

[tosmartak]

OP! I understand your plight but if you really want to hear the truth! Bitcoin is just starting! Not like you don't have some points, Yes! Bitcoin can die. In as much as I'm a bitcoin enthusiast, I know that can happen but the only way that can happen is if a way better cryptocurrency comes along and people lose interest in Bitcoin and slowly move to this newer and better cryptocurrency but what you are not seeing is how strong bitcoin already is that all these other altcoins are just following put.

First and foremost, Bitcoin does not have any weak point. There is no central server or code to break down and render the entire system dead in a moment.

Secondly, there is already a lot at stake. Have you checked coinmarketcap lately? Money, dreams and careers, all are at stake if Bitcoin fails. There are now thousands of businesses and hundreds of thousands of jobs in what you can call the Bitcoin industry. Over a $1 billion has been invested in startups offering services and solutions built around the cryptocurrency. So, no matter the fight between any player in the bitcoin industry (developers, miners, entrepreneurs etc), it will always be resolved because every player in those camps has something to lose if Bitcoin fails and successful bitcoin translates to everyone being successful.
Let me even use you as an example, you already have like 10btc in your wallet which you had few years ago. Knowing its worth now, would you want bitcoin dead? So you will want to hop into another cryptocurrency you are not even sure what the future holds for it as most of their prices are still centered on bitcoins'?

Lastly, Bitcoin does not have a governance structure that is clear and no one, not even Satoshi Nakamoto, the master himself who invented Bitcoin has the authority and power to decide the way forward. Like a blogger said, "It is consensus all the way. And the community can achieve that through negotiations at roundtables or the hash power. The latter option involves nodes in the Bitcoin network voting for the version of code they want by adopting it."

These reasons would make a swift failure of Bitcoin harder than anyone can often bring themselves to think.

[Boseda]

Let me even use you as an example, you already have like 10btc in your wallet which you had few years ago. Knowing its worth now, would you want bitcoin dead?

No, of course I don't want that, but at the same time I prefer to hold my coins rather than spend them.
When I say it's gonna die, I mean that Bitcoin is becoming worthless as a payment service, not as an asset.

[shamzblueworld]

Bitcoin is gonna die soon because of too high fees and too slow transactions. It is becoming a very bad quality payment system, with no relevant pros in using it.


Now I see 4 different scenarios that could happen in the next months:

• Bitcoin developers will solve these scaling problems and Bitcoin returns to be the cheap and fast payment system it was some years ago.
• Bitcoin users will move all their BTCs to the so-called "altcoins". Most of these altcoins are already far better than BTC, regarding technical specs, confirmation time, privacy, etc. Dash, Monero, DOGE, LTC, etc. all of them are better than Bitcoin.
• Bitcoin transaction will become less and less because its users will just hold their coins. Thus BTC would become a sort of digital asset, with no actual use as a payment system. (Note that Satoshi thought of Bitcoin mainly as an innovative payment system)
• People will get tired of cryptocoins and move back to the ol' banking system.

Which one do you prefer and which one do you predict?

From your mentioned scenarios, I think number 3 is more likely event in the sooner future, but eventually I feel it will be number one, all the problems that may be halting bitcoin will eventually be solved and it will remain the number crypto and actually be enhanced to a greater level as well.

[Boseda]

Wow what a crappy topic. Yes.bitcoin is going to die so why are you still here ? Stop using your profile here and disappear. Such nonesense you talk. Have you ever used s bank in your life ? Do you know what banking fees are ? Bitcoin is still cheaper and faster then banks. Banks can take easily up to 3 days when transferring from on bank to another bank. So what exactly are you talking a out here ? You don't know what you talking about you just saying silly things.

3 things:

1. We should not compare Bitcoin to banks. We should be much better than that old crappy centralized system.
2. As an online payment service, it is more appropriate to compare Bitcoin to e-wallets like paypal, skrill, neteller, etc. Well, if I buy stuff online using such e-wallets, fees are much lower than Bitcoin (often 0) and the transaction is instant. I would like Bitcoin to be like that. Then, I know there are lots of other problems with those e-wallets (centralization, limits, verifications, low privacy, etc.) but if you consider only the payment part they are much better than  Bitcoin. That's a fact.
3. We are all Bitcoin enthusiasts on this forum, but think about other people who don't use BTC yet. Why a business should use Bitcoin. Which would be its advantages? No one to make a business owner change his habits. We should think about mass adoption. It will never happen if fees are so high, transactions are slow and may be never confirmed even if the sender sets a high fee.

I know what I am talking about and I did this thread because I love Bitcoin and I want it to be a better payment service, not just a digital asset.

[densuj]

There is very least possibility that bitcoin will die in future as it is still in its early days and still it has managed to achieve good price so in future when bitcoin will get more older and will become more popular its price will  be even higher.

Yes, many people always said bitcoin will be died because of there​ are no developers
investors and other problem related with bitcoin.
The fact bitcoin is still alive until today and many investors made investments into bitcoin
 it is new revolution of currency, the comunity of bitcoin will make bitcoin be alive
although many people says bitcoin will not survive.

[tosmartak]

Let me even use you as an example, you already have like 10btc in your wallet which you had few years ago. Knowing its worth now, would you want bitcoin dead?

No, of course I don't want that, but at the same time I prefer to hold my coins rather than spend them.
When I say it's gonna die, I mean that Bitcoin is becoming worthless as a payment service, not as an asset.

Oh ok! I understand your point of view now. The funny thing is people will still keep exchanging irrespective of the exchange fees, speed or whatever and you know if it becomes worthless as a payment service, people will start dropping it and definitely it becomes worthless too as an asset. There are two categories of people thay keeps the system moving, THE HOARDERS AND THE SPENDERS and without the two, it is a NO NO. What is increasing the value today is how readily people are accepting it, using it to pay for stuffs and exchanging it.
Demand and Supply - that is what adds value to things anyway even fiat currencies. Once there is always more demand and less supply, the value rises and the two must always go hand in hand. So once it starts losing its value, it gradually starts getting worthless, and people may start looking for a better alternative if there is any.
And since you already said you prefer to hold your coins rather than spend them, you won't as well want the value to drop right? I am sure no matter how bad the payment service is, which I don't really think it is considering the value, exchange won't stop. This is just a little I know about how the exchange market works though, maybe the gurus can shed more light.

[Betwrong]

Let me even use you as an example, you already have like 10btc in your wallet which you had few years ago. Knowing its worth now, would you want bitcoin dead?

No, of course I don't want that, but at the same time I prefer to hold my coins rather than spend them.
When I say it's gonna die, I mean that Bitcoin is becoming worthless as a payment service, not as an asset.

Those things are connected and we cannot have the latter without the former. If Bitcoin becomes worthless as a payment service its value will drop to zero and thus it will become worthless as an asset.

[shield132]

It's hard to determine how situation will change in near futurr because there was planned hard fork to fix current situation. Also still there are many only bitcoin services and people have to use bitcoin mostly than altcoin. Maybe transactions will become less and less. But OP's 4th scenario is senseless to my mind because still many people uses banks for btc/usd or other currency exchange, btw we can't avoid banks and it has nothing to do on bitcoin's popularity.

[dihari]

I am all in when op said it was bad quality for payment system because of high fees and very slow transactions (confirmation). People want to spend and store their money with something simple, easy, fast, cheap and secure payment system. Everyone knows bitcoin now is not like bitcoin few years ago.
Reduction of bitcoin users can't be unavoidable because of these reasons, but as a long term investment crypto currency asset, it's still number one.
I don't one of your polling is gonna happen to fix this, maybe I can say people have found the solution. It's called Ethereum.

[DoublerHunter]

Bitcoin is gonna die for sure but it will not be soon because it will take a lot of time and almost a lot of decades before bitcoin will die because a lot of people now are using bitcoin and bitcoin is just getting started to be notice by the people around the world so it is not that easy for the haters to make bitcoin die because they will die first because of being old rather than bitcoin.

[paul gatt]

Bitcoin is gonna die for sure but it will not be soon because it will take a lot of time and almost a lot of decades before bitcoin will die because a lot of people now are using bitcoin and bitcoin is just getting started to be notice by the people around the world so it is not that easy for the haters to make bitcoin die because they will die first because of being old rather than bitcoin.

Bitcoin can die, however, it is very unlikely, it will continue to grow, because it is being used by many countries. Some guys are always looking for ways to ruin bitcoin, but they have never been successful, bitcoin is still growing and will be stronger.

[buenav]

Bitcoin is gonna die soon because of too high fees and too slow transactions. It is becoming a very bad quality payment system, with no relevant pros in using it.


Now I see 4 different scenarios that could happen in the next months:

• Bitcoin developers will solve these scaling problems and Bitcoin returns to be the cheap and fast payment system it was some years ago.
• Bitcoin users will move all their BTCs to the so-called "altcoins". Most of these altcoins are already far better than BTC, regarding technical specs, confirmation time, privacy, etc. Dash, Monero, DOGE, LTC, etc. all of them are better than Bitcoin.
• Bitcoin transaction will become less and less because its users will just hold their coins. Thus BTC would become a sort of digital asset, with no actual use as a payment system. (Note that Satoshi thought of Bitcoin mainly as an innovative payment system)
• People will get tired of cryptocoins and move back to the ol' banking system.

Which one do you prefer and which one do you predict?

I think the scaling problems will be solved but it is still a long time away and the damage to bitcoin may be irreversible, as for altcoins I don't think any alt has really solved the scaling issue yet though some have already adopted segwit its only an intermediate solution. I also don't think people will move back to the old banking system so I would say in the short term option 3 is the most likely and is already happening btc is becoming an asset rather than a currency. Eventually the scaling issues will be solved however so option 1 is the long term scenario that I predict.