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Author Topic: Who can destroy Bitcoin ?  (Read 21668 times)
senne (OP)
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September 25, 2017, 05:33:17 PM
 #241

to me, i guess it's far to happen right now because its popularity still growing,
but however there is also a chance, because it's up to the government authorities if they contradict to this bitcoin. 

As one become more and more popular and have more friends and well wishers, the more enemies one make for oneself.

Same is the case with the Bitcoin my friend, as it is gaining popularity banks, investors are becoming enemies to this crypto currency because they fear that if the Bitcoin becomes more and more powerful it may reduce the usage of Banks and hence reducing their profits, due to which in the recent many statements have been issued against Bitcoin so that people find it risky to invest in the Bitcoin and you never know what is in their mind to destroy Bitcoin to regain their profits once again.
 
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The block chain is the main innovation of Bitcoin. It is the first distributed timestamping system.
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bearexin
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September 26, 2017, 12:27:20 PM
 #242

Bitcoin is growing very powerfully but in this present scenario which factors can destroy or make its market value Zero.

I think if all governments ban bitcoin, I think then the motivation to use bitcoin as a P2P currency will dwindle and eventually because of the loss of value/demand it could go to a slow death...
But lets hope that's not the case...
Bitcoin prices are bit low it doesn’t mean that it can be destroyed it will rise again and everyone will gain profit the debate of it destroy is just a theory it will not happen. So invest in it as prices are low it is the chance to avail and enjoy in the good times so make it fast and hold for the right time,

stephanirain
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September 26, 2017, 12:40:38 PM
 #243

Bitcoin is growing very powerfully but in this present scenario which factors can destroy or make its market value Zero.
In my own opinion, the only people who can only destroy bitcoin is the government because they are the one who gives orders and the one who makes the rules or the law which we need to follow. Thats why they can destroy bitcoin for a long term.

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kerjakuat
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September 26, 2017, 02:11:33 PM
 #244

The one who can destroy bitcoin is the community it self. If peoples trust to bitcoin gone bitcoin will die also. as fast as the community dump all their coin. no one can stop that even you a billionaire. This is why community so important to bitcoin. No one can stop the rises or the dump. Just only us will be the bone of bitcoin if you wanna want bitcoin to last forever.

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micle222
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September 26, 2017, 02:24:16 PM
 #245

Bitcoin is growing very powerfully but in this present scenario which factors can destroy or make its market value Zero.
which can paralyze the price of Bitcoin in the market is the consumer/user of Bitcoin itself.
If there are no customers using Bitcoin I'm sure Bitcoin will not be worth it.
or if there is a new technology that outperforms Bitcoin.
Maybe Bitcoin will be left behind and many throw it into the trash.
mehedi24
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September 26, 2017, 07:05:38 PM
 #246

The risk is not physical destruction, outlawing, or any of these things. It is trust. If everyone suddenly decided that Bitcoin is not worth the amount we say it is today the value will of course drop. This could be because Bitcoin itself loses trust or something comes along that people trust more. If something comes along that stole Bitcoin's network effect it would not destroy Bitcoin, it would just drop its value to some level
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September 26, 2017, 09:15:00 PM
 #247

I think no one can destroy bitcoin now because it’s popularity is still growing.

That is what can destroy it also.
When bitcoin will not be the number one choice anymore and will retreat in the shadows like some altcoins did.

Although I don't envision this happening years to come this is what sometimes in the future will happen.Nothing last forever.
And bitcoin is no exception to this rule. Something better might come out , the community will shrink and it will.."die".Although it will take a single computer still mining to keep it alive.

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alikaya58
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September 26, 2017, 10:36:57 PM
 #248

Nobody  Wink WinkBTCBTCBTCBTCBTCBTCBTC
cotton ball
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September 26, 2017, 10:45:04 PM
 #249

the right answer is is the market, they will make their choice on crypto innovations that arise and will eventually move the majority of capital if bitcoin is not able to grow and respond to the innovation challenge of altcoin, I mentioned about ethereum and some altcoins are starting to move with confidence to gaining market attention in the long run.
The_Dark_Knight
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September 26, 2017, 10:46:08 PM
 #250

Bitcoin is growing very powerfully but in this present scenario which factors can destroy or make its market value Zero.
There are several things that could destroy bitcoin, the most important are natural disasters, if a natural disaster so big like an asteroid hitting the earth or something similar happen then the last of our problems will be the disappearance of bitcoin, another entity that can destroy bitcoin are governments, if they decided to bribe the miners they could get 51% of the hash power and do as they wish with the network.
Ryan Dugan
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September 26, 2017, 10:57:12 PM
 #251

I think no one can destroy bitcoin now because it’s popularity is still growing. Or maybe it will be destroyed if there’s a world war and the internet connection is loss all around the world. And also it can be affected if the government take an action that is to contradict bitcoin in any country.

No single person can destroy Bitcoin, not even a group can. It can't happen it is like trying to destroy the internet it just won't work. It is like trying to keep air from people. Internet is part of our lives now we can't live without it anymore. Bitcoin we can't live without financially. An apocalypse would have to happen and everything went offline. Money would be useless and we would go back to trading things for what we want.

swiftblade
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September 26, 2017, 11:08:07 PM
 #252

Global scale EMP, destroy all electronic device. Separate digital world from human being
Boysen
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September 26, 2017, 11:11:51 PM
 #253

Bitcoin is growing very powerfully but in this present scenario which factors can destroy or make its market value Zero.
No one can destroy bitcoin but i know bitcoin will die little by little  becuase the bitcoin is limited but i can say that bitcoin become increase so much high is becuase the demand is high in the next future so just wait and earn.

Tukang Becak
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September 26, 2017, 11:12:10 PM
 #254

Bitcoin is made with complicated algorithms, but I'm sure someday there will be someone who can destroy the algorithm so as to make the bitcoin corrupted and eventually destroyed.
agatha818
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September 26, 2017, 11:14:25 PM
 #255

nobody?, a lot of people are using and into bitcoin already, it'll be impossible to destroy it because of the people who invested into it. and bitcoin is gaining popularity
Jose21
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September 26, 2017, 11:19:58 PM
 #256

Bitcoin is growing very powerfully but in this present scenario which factors can destroy or make its market value Zero.
i think someone who has a lot of knowlegde in corrupting cryptocurrencies or the one who made it.
sohcahtoa1199
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September 26, 2017, 11:23:08 PM
 #257

successful cryptanalitic attack on private keys, excessive mining monopoly, global internet shutdown (possibly), massive loss of interest.
Even when internet is shut down on a global scale, I think it's not really going to destroy bitcoin. Since no one will be buying or selling i believe that everything will come to standstill and will kick of once internet connectivity is restored.
geac.xraekhurcoe
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September 26, 2017, 11:43:59 PM
 #258

Destroy is a qualitative word and and it is pretty hard to understand what you understand by "destroy":


de·stroy
dəˈstroi/Submit
verb
put an end to the existence of (something) by damaging or attacking it.
"the room had been destroyed by fire"
synonyms:   demolish, knock down, level, raze (to the ground), fell; More
ruin (someone) emotionally or spiritually.
"he has been determined to destroy her"
defeat (someone) utterly.
"the Tigers destroyed the Padres in five games"
synonyms:   annihilate, wipe out, obliterate, wipe off the face of the earth, eliminate, eradicate, liquidate, finish off, erase; More


Trying to translate it to bitcoin reality would mean no single node is running it or communication between node is blocked by some great firewall like in China but It would need to be a World Wide firewall, an effort likely equals to shutting down the whole internet.

Or make it's value equal to Zero:
I think most exchanges don't accept Bids or Asks with value equal to Zero, which means the lower value it can have is $0.00000001. I think it is possible the same way any company on the world could bankrupt someday, bad management and lack of user interest, like it being disrupted by something far superior.

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September 27, 2017, 12:27:23 AM
 #259

At this moment no one can destroy bitcoin because it is invisible and well - known currency. It is also the most influential  cryptocurrency in the digital world and with the higher value. Bitcoin nowadays is the most powerful coin and many investor holding it.
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September 27, 2017, 12:57:49 AM
 #260

When the invention of quantum computers do not be one a distant future and become part of our reality.
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