yusufjalal (OP)
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October 13, 2017, 11:12:12 AM |
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I was just wondering, what would it take for the Bitcoin Network to be shutdown completely?
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joseafonso123az
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October 13, 2017, 11:15:12 AM |
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Well, no electricity, and no internet connection would kill BTC for sure! You wouldn't be able to make any transactions without these.
Other issue can be all the countries in the world ban BTC, but this will not restrict it's circulation, as no internet connection do!
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ghost07
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October 13, 2017, 11:21:47 AM |
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Well, no electricity, and no internet connection would kill BTC for sure! You wouldn't be able to make any transactions without these.
Other issue can be all the countries in the world ban BTC, but this will not restrict it's circulation, as no internet connection do!
I agree if we dont have electrixity and internet bitcoin will die because it digital coin. |
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stugots2
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Too Many Miners Not Enough Electricity
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October 13, 2017, 11:31:43 AM |
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Can the Government step in?? I guess so
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VitKoyn
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October 13, 2017, 11:41:08 AM |
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I was just wondering, what would it take for the Bitcoin Network to be shutdown completely?
To be able to completely shut down the Bitcoin network all Bitcoin nodes should be destroyed which is those computers that runs bitcoin client software and has a blockchain on it. It's impossible to do that since Bitcoin nodes are spreading worldwide. Other ways to shutdown bitcoin, If all people lose interest using it, All countries ban of using it, Government shuting down electricity and internet connections. These are all possible scenarios but highly unlikely to happen. |
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aboy24
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October 13, 2017, 11:46:52 AM |
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in myself bitcoins is not shutdown, because every minutes bitcoins is high and high demand in every country, so many renewable energy technology is made, so bitcoins is not shutdown in electricity issues. on internet issue many of country has a free internet in super high speed internet connection, if many people loves bitcoins, so many people invented the way that the bitcoins prevent shutdown  |
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jackhdt
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October 13, 2017, 11:51:26 AM |
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Well, no electricity, and no internet connection would kill BTC for sure! You wouldn't be able to make any transactions without these.
Other issue can be all the countries in the world ban BTC, but this will not restrict it's circulation, as no internet connection do!
as far as I know the bitcoin archive are in for conditioning,hard drive so no electricity, no internet not kill it. However it will not be traded, only exists in the form of worthless. no electricity, no internet, the world will going back to Neolithic |
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squatz1
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Flying Hellfish is a Commie
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October 13, 2017, 11:54:49 AM |
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Can the Government step in?? I guess so
You guess so? The government could regulate Bitcoin into oblivion if they really wanted to, the government has this sort of power to be able to kill Bitcoin off at any moment. Some governments have already taken these steps but, none of the bigger ones GDP wise has. Electricity going down would cause internet, all the miners, nodes, and so on to also go down. So that'd take the rug out from under BTC |
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Testing Crypto
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October 13, 2017, 11:59:32 AM |
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I was just wondering, what would it take for the Bitcoin Network to be shutdown completely?
To many operating systems && other communications .nets, the real question would be "can you shut down entire operating systems, radio or television"? Sure, but IT would take mountains to move && or what would be the outcome of such an idea? |
ZwNpPhVYrSrPMS71GLc7TEnbqA9VSZopGn // Gift5YapqsZqSTW8T4S3sCU4sngCkvh4ba // 3Gwc4KzVtuJ9ADnuqzF7XRhSaaE7HkBWpr // 1PAGEHrN62tgUHncGWbbhKe9jhZGXsxFC4
"In a nutshell, the network works like a distributed timestamp server, stamping the first transaction to spend a coin. It takes advantage of the nature of information being easy to spread but hard to stifle." -- Satoshi {SAT OS hi}
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romero121
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Enterapp Pre-Sale Live
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October 13, 2017, 12:03:10 PM |
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No need to think of such a shut down. It's time for us to think about the further development, because its clear that the blockchain technology is gonna make a big change in all sectors when implemented. As a beginning, at present there are several firms that have started to use the blockchain technology.
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blocklancer8
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October 13, 2017, 12:11:25 PM |
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which can close this bitcoin is when the world has experienced electricity crisis and no internet network anywhere. Because bitcoin work system is a virtual world which in this case requires the internet media.
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fishbonez11
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October 13, 2017, 12:15:26 PM |
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Bitcoin will still be there even without electricity or internet, it will just be not accessible. For the government to shutdown bitcoin, it takes all the countries in the world to do that. If bitcoin will be regularized in some countries while some not, then bitcoin will still be existent. Maybe what can make bitcoin of no value or void is another cryptocurrency taking its place.
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mostkey
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October 13, 2017, 12:31:05 PM |
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Well, no electricity, and no internet connection would kill BTC for sure! You wouldn't be able to make any transactions without these.
Other issue can be all the countries in the world ban BTC, but this will not restrict it's circulation, as no internet connection do!
not just bitcoins that die if the electricity is turned off and the internet network removed. even the world will become chaotic, bitcoin will actually live even if electricity and internet die but access to use bitcoin missing, yaa this is actually our fear all, because I am sure 80% in this forum only have income through forum |
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Teraboy
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October 13, 2017, 12:33:43 PM |
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Well, no electricity, and no internet connection would kill BTC for sure! You wouldn't be able to make any transactions without these.
Other issue can be all the countries in the world ban BTC, but this will not restrict it's circulation, as no internet connection do!
not just bitcoins that die if the electricity is turned off and the internet network removed. even the world will become chaotic, bitcoin will actually live even if electricity and internet die but access to use bitcoin missing, yaa this is actually our fear all, because I am sure 80% in this forum only have income through forum Bitcoin still exist, but it'll completely make bitcoin stopped or can't active. all the hashpower is gone, none of transaction will be confirmed, even sending transaction is impossible, that mean in practical use, once internet destroyed, bitcoin will be gone. |
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X7
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Let he who is without sin cast the first stone
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October 13, 2017, 12:34:19 PM |
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I was just wondering, what would it take for the Bitcoin Network to be shutdown completely?
It would be extremely difficult given the moderate amount of decentralisation in play |
For what shall it profit a man, if he shall gain the world, and lose his own soul?
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Fazlurkhan.kz
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October 13, 2017, 12:36:19 PM |
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Making of new Bitcoins might stop. But it's circulation won't. As people who would have a hope that Bitcoin would return will exist so, it won't completely get disappeared. But if one has to completely shutdown btc, there should be no electricity and internet. Only then might Bitcoin get completely of no use!
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Ucy
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October 13, 2017, 12:37:22 PM |
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If you mean shutting down your own Network, I guess yes. That's is the best way anyone who don't like Bitcoin can stayoff without hurting the general Bitcoin Network. Global shutdown is impossible without shutting down the internet aswell.
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Cointertrade
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October 13, 2017, 12:41:06 PM |
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I was just wondering, what would it take for the Bitcoin Network to be shutdown completely?
I think the only thing that make bitcoin shutdown completely is that if we lost our connection to bitcoin and most especially is the internet to work with bitcoin. |
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RayvenPierre
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★Bitvest.io★ Play Plinko or Invest!
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October 13, 2017, 12:49:43 PM |
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How will bitcoin shut down if there isn't even anyone that has full control over it? Bitcoin is a decentralized bitcoin currency and yes there might be times that someone can try to manipulate the price but that will only be to a certain extent. As long as there is a demand for bitcoin it will never cease to exist.
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jackhdt
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October 13, 2017, 01:02:24 PM |
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Well, no electricity, and no internet connection would kill BTC for sure! You wouldn't be able to make any transactions without these.
Other issue can be all the countries in the world ban BTC, but this will not restrict it's circulation, as no internet connection do!
not just bitcoins that die if the electricity is turned off and the internet network removed. even the world will become chaotic, bitcoin will actually live even if electricity and internet die but access to use bitcoin missing, yaa this is actually our fear all, because I am sure 80% in this forum only have income through forum Bitcoin still exist, but it'll completely make bitcoin stopped or can't active. all the hashpower is gone, none of transaction will be confirmed, even sending transaction is impossible, that mean in practical use, once internet destroyed, bitcoin will be gone. that right, bitcoin still exist but It cannot be traded, it became not worth. bitcoin is money but cannot exchange it is removed. |
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