Will Bitcoin die soon?

[TheCheek]

It can die, simply because it does not have any long-term existing institutions backing it.

The future is precarious.

I can see a handful of possible worlds.

It would be ironic if it died because the bitcoin developers were not up to the job (hence the transaction mess we are in).

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[briny]

I am not sure for the shortrun perspective but i am sure enough in the long run those who ever holding BTC gonna be the biggest gainer. Bitcoin is a system which only you can create like a society but when its created it runs by its own will. we cant control it cause, no body can control bitcoin. A system can be maintained but not control 

[batang_bitcoin]

There are a lot of complains that are being posted and filed at their respective solution giver. But not just because of those problems, I doubt it will kill bitcoin and the fact that bitcoin died hundred times already. So this type of speculation about bitcoin's death did happened many times before.

[Ewinsane]

I think not, it is because the user bitcoin continues to increase and is now marketcap with currently price is more than $40 m, bitcoin will die soon if the user leave and price go to floor.

You are right that bitcoin users increasing continuesly and I do not think that bitcoin will die because bitcoin demand is very much high and a lot of people are getting a huge profit from bitcoin and a lot of people are risch through bitcoin and I am sure that bitcoin users never leave the bitcoin and I feel that bitcoin is very much important project of our life .

[lady Royal]

I have sent BTC yesterday but one day passed it is not confirmed, I have raised mining fee, this sucks.

Who says that if transaction don't get confirm in a day will make bitcoin die?
Why don't you understand that you have to pay the minimum recommended fee, which is raised by the greedy miners. It must be your fault because you didn't used the minimum fee because of that your transaction got stuck?
Next time please refer to this site

Code:

https://bitcoinfees.21.co/

Put the minimum fee, Then after putting the required fee if your transaction still get stuck you can say that bitcoin will die soon. Bitcoin will come to it's normal position soon.

[couture]

I think the issue is speed.


The sheer volume of transactions that occur every day via regular banks and credit cards etc is astronomical.

Allllll other things aside, fees, accessibility etc i think bitcoin (or any cryptocoin to take the world by storm effectively) needs first to address the issue of speed.

[sportis]

Maybe it's just too many person are transacting so that there are so many delays. Just like in the roads, if the traffic is heavy, all of us couldn't go to the places that we want to go.

The theoretical transactions are about 7tx/sec. The reality is about 3 to 4 per second. Looking for unconfirmed transactions here you can have an idea about the time. So anyone gives more he can be more sure that his transaction will be confirmed in a less time. That means the opposite OP claims. That is, people are willing to pay for something valuable. So how could this (valuable) die?  

[mrayazgul]

Maybe it's just too many person are transacting so that there are so many delays. Just like in the roads, if the traffic is heavy, all of us couldn't go to the places that we want to go.

I dont think Bitcoin can die only because of the sole reason that there are too many transactions. Many transcation means people are more using bitcoin and bitcoin miner network should handle this.

[takingthis4]

Maybe it's just too many person are transacting so that there are so many delays. Just like in the roads, if the traffic is heavy, all of us couldn't go to the places that we want to go.

basically that's kinda what's happening right now, tons of transactions don't fit in the blocks that are being mined by the miners right now. That's why we need to make the block size either bigger or just implement segwit and be able to transact bitcoins without the need of the miners. I think that would be the best idea to do thus everyone needs to run a node signaling for uasf, in this way the power of bitcoin will remain for the people.

[Gens09]

I have sent BTC yesterday but one day passed it is not confirmed, I have raised mining fee, this sucks.

With the increasing number of bitcoin user all over the globe so many transaction done in every second and every minute so the blockchain cannot handle the so many transaction so its take a lot of time to confirmed in the blockchain but I don't think bitcoin will die just because of this reason.

[(o)(o)ilikeboobs(o)(o)]

I have sent BTC yesterday but one day passed it is not confirmed, I have raised mining fee, this sucks.

With the increasing number of bitcoin user all over the globe so many transaction done in every second and every minute so the blockchain cannot handle the so many transaction so its take a lot of time to confirmed in the blockchain but I don't think bitcoin will die just because of this reason.

It wont die but it will become more like users will start to store for long term and stop using bitcoins so this will only make the price to stable and their wont be much movement if this going to happen for long time.

[BADecker]

Projecting The Price Of Bitcoin

The wild card in cryptocurrencies is the role of Big Institutional Money.

I've taken the liberty of preparing a projection of bitcoin's price action going forward:



You see the primary dynamic is continued skepticism from the mainstream, which owns essentially no cryptocurrency and conventionally views bitcoin and its peers as fads, scams and bubbles that will soon pop as price crashes back to near-zero.

Skepticism is always a wise default position to start one's inquiry, but if no knowledge is being acquired, skepticism quickly morphs into stubborn ignorance.

Bitcoin et al. are not the equivalent of Beanie Babies. Cryptocurrencies have utility value. They facilitate international payments for goods and services.

The primary cryptocurrencies are not a scam. Advertising a flawless Beanie Baby and shipping a defective Beanie Baby is a scam. Advertising a mortgage-backed security as low-risk and delivering a guaranteed-to-default stew of toxic mortgages is a scam.

The primary cryptocurrencies (bitcoin, Ethereum and Dash) have transparent rules for emitting currency. The core characteristic of a scam is the asymmetry between what the seller knows (the product is garbage) and what the buyer knows (garsh, this mortgage-backed security is low-risk--look at the rating).

Both buyers and sellers of primary cryptocurrencies are in a WYSIWYG market: what you see is what you get. While a Beanie Baby scam might use cryptocurrencies as a means of exchange, this doesn't make primary cryptocurrencies a scam, any more than using dollars to transact a scam makes the dollar itself a scam.

Bubbles occur when everyone and their sister is trading/buying into a "hot" market. Bubbles pop when the pool of greater fools willing and able to pay nose-bleed valuations runs dry. In other words, when everyone with the desire and means to buy in and has already bought in, there's nobody left to buy in at a higher price (except for central banks, of course).

At that point, normal selling quickly pushes prices off the cliff as there is no longer a bid from buyers, only frantic sellers trying to cash in their winnings at the gambling hall.

While a few of my global correspondents own/use the primary cryptocurrencies, and a few speculate in the pool of hundreds of lesser cryptocurrencies, I know of only one friend/ relative /colleague / neighbor who owns cryptocurrency.

Read more at http://www.zerohedge.com/news/2017-06-02/projecting-price-bitcoin.

[0bit]

The speed problem is gonna persist for a while. The reason is because it's incredibly difficult to get people to buy a miner, especially given how much they cost and how hard they are to run in a home (power, noise). Until more people start mining and increase the speed of the network, you can expect that transactions are gonna take a long time.

[hawkins]

I think soon is not the right word. We do not know when bitcoin will disappear, or it is not used, but for now, there has been no sign for it, it can even be said the existence of bitcoin has strengthened more than ever, and far exceeds other altcoins.

[HatakeKakashi]

I think not, it is because the user bitcoin continues to increase and is now marketcap with currently price is more than $40 m, bitcoin will die soon if the user leave and price go to floor.

Thats right bitcoin as of now the price is very bright and and after many years they will become more brighter.  The price of bitcoin continue to increase in the last few months and I believe it will increase more. Many people now are investing in bitcoin so the price is continue increasing. But no one can predict the exact date when bitcoin die or when bitcoin dump. For transaction its normal because like me I also delay confimation and for sure most of the bitcoin user experienced that.

[BADecker]

I think not, it is because the user bitcoin continues to increase and is now marketcap with currently price is more than $40 m, bitcoin will die soon if the user leave and price go to floor.

Thats right bitcoin as of now the price is very bright and and after many years they will become more brighter.  The price of bitcoin continue to increase in the last few months and I believe it will increase more. Many people now are investing in bitcoin so the price is continue increasing. But no one can predict the exact date when bitcoin die or when bitcoin dump. For transaction its normal because like me I also delay confimation and for sure most of the bitcoin user experienced that.

In fact, if more of the fiat financial bubbles crash, Bitcoin just might go to $100,000 by the end of this year 2017.

[lemonade09]

I understand that the bitcoin transaction is getting slower as time goes by because of the increasing number of the bitcoin users in all over the globe but i guess bitcoin is going to die is not gonna happened in today because it is already so far and have enough reasons and feautures to stay and become a big currency.

[Inkdatar]

This is really the problem of blockchain too long to confirm the transactions. I hope they will fixed this as many users are complaining. Mine took 1week to confirm the transactions. I hope they will solved this issues. Needs improvement of bitcoin transactions.

[s0beit]

As of now i think bitcoin is so stable and its hard it to die. The main reason why bitcoin die if no one use it and no one adopt bitcoin. But now bitcoin are many investor.

[AztecGoldHero]

bitcoin cant die. there is nearly 100 bıllıon dolars ın ıt and ıts growıng everyday. hey dont allow ıt to dıe. offcourse prıze speculatıon wıll be but communıty wıll grow everyday and bıtcoın and all altcoıns wıll be hıgher. and goverments must see thıs and wıll see thıs sıtuatıon. when the tıme pass bıtcoın and some of the alt coıns wıll be more stabe about prıze.