pucunghul
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October 19, 2017, 01:16:49 PM |
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I was just wondering, what would it take for the Bitcoin Network to be shutdown completely?
I dont know much about how bitcoin systems work. I think bitcoin so far there is no problem with the network. so what maybe bitcoin can be shutdown. only the person who created it will be able to answer that question.
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gesdan
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October 19, 2017, 01:24:23 PM |
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1 reason that makes bitcoin can shutdown is because internet of this world down, but i think it never happen in this world, because right now internet service provider has many backup if their internet down
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Honest Tim
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October 19, 2017, 01:32:30 PM Last edit: October 25, 2017, 08:05:23 PM by Honest Tim |
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I was just wondering, what would it take for the Bitcoin Network to be shutdown completely?
If all the bitcoin relay nodes are shut down then the network will automatically shut down and no more new blocks will be mined thus no transaction will confirm and bitcoin will fall. But doing that is also not possible at all as it will be only possible in case of a coordinated crackdown and a few countries are there who are supporting bitcoins.
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Bohxz M4p4gm4h4l25
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October 19, 2017, 01:36:03 PM |
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I was just wondering, what would it take for the Bitcoin Network to be shutdown completely?
I thi k it will happen if Worldwide terrorisms or even wars uproar cause people will tend to think about survival than having money during that time, they will seek help and not bitcoin, they will find food and signature campaigns , electricity, @nd internet will probably shutdown of course that will deprived us for using and working for bitcoin.
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shindymlk
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October 19, 2017, 01:38:36 PM |
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I was just wondering, what would it take for the Bitcoin Network to be shutdown completely?
i think you cant do everything, because in internet network or internet connection is the most important to access bitcoin forums. no internet connection, no projects, no thread, no posting, no everything if your bitcoin network be shutdown completely. if you want do your projects,you must connection your internet to bitcoin forum.
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Portia12
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October 19, 2017, 01:44:11 PM |
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I think bitcoin will be laast forever why? Because lot of country use now as a currency and they make it legal to use. Some industry or marketplace use to buy some of their product.
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allthingsluxury
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October 19, 2017, 01:45:26 PM |
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Governments could definitely make our lives very very difficult, which would have a huge impact on the price of BTC. But fully shut it down? This is nearly impossible.
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SonicDoom
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October 19, 2017, 01:48:58 PM |
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The absence of electricity, internet, and bitcoin users. it can also be shutdown if it's declared as illegal in all country.
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Blockfolioz
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October 19, 2017, 01:51:26 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!
Yea and without electricity and internet u also don't have access to banks and all businesses will die not just BTC ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Without electricity and Internet nothing is possible at present. Each and every activity that human does will get connected to internet in one way or the other. So, these reality facts won't let the bitcoin get shut down.
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0t3p0t
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October 19, 2017, 01:57:00 PM |
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I was just wondering, what would it take for the Bitcoin Network to be shutdown completely?
Aside from having no electricity, no internet and all countries implementing a total ban on Bitcoin there could be another futuristic reasons that could possibly make Bitcoin disappear. Worldwide EMP attack, Asteriod impact and end of the world are worst than all of those listed above it could even end the human race. It might not happen today but could possibly be happening in the future but of course I am hoping that it won't come true. Bitcoin is unstoppable without those lists.
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william8829
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October 19, 2017, 02:03:04 PM |
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I was just wondering, what would it take for the Bitcoin Network to be shutdown completely?
I will take another route from the other posters. Besides shuting down the internet or Government regulation Bitcoin could be destroyed from within by its on developers. In fact some would argue due to past hardfork Bitcoin no longer exists. There is an upcoming hardfork in November called segwit2x that has a small chance of tearing the community apart. To sum up my thoughts. Internal conflict within Bitcoin poses the greatest threat of a shutdown.
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novhitadaloma
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October 19, 2017, 02:07:00 PM |
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I was just wondering, what would it take for the Bitcoin Network to be shutdown completely?
I can not imagine if the bitcoin network is closed, try to think positively.
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Opquar
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October 19, 2017, 02:39:43 PM |
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The absence of electricity, internet, and bitcoin users. it can also be shutdown if it's declared as illegal in all country.
Not even the latter will completely kill it. It's easy to use for shady deals so criminals can always fall back on it. The absence of electricity and internet is really the only thing that can completely shut it down, but that will never happen.
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Singwala
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October 19, 2017, 02:49:43 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!
In other words, bitcoins can not be killed by anyone because the electricity and the internet are not lost. Depending on whether there is a widespread war, money and bitcoins will no longer be profitable. Really bitcoins can no longer be prevented and it really happens that the world must be changing and with each passing moment there are new ones that will expose the future of people living in the future
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fullhdpixel
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October 20, 2017, 04:59:25 AM |
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I was just wondering, what would it take for the Bitcoin Network to be shutdown completely?
Well its life, there's no permanent in this world our life will end of course the bitcoin too. Before it shutdown completely there's a sign that the bitcoin going to destroy or disappear completely if it continue to falling down it price.then the electricity too.bitcoin cannot access without electricity I don’t think so. How can it be possible that something more valuable and profitable can be shutdown someday? It is beyond the sense. I think that the investors who have invested in bitcoin are not brainless. They have surely studied all the related aspects about bitcoin and then they have invested. Why one would invest in such a thing which may not survive in the future.
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suvo05
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October 20, 2017, 05:47:42 AM |
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I have read an article about quantum computer . Lots of researchers are working on it and it just moving steps closer to the reality . And if it comes to the reality it will destroy the whole crypto system we use, hence also destroy the bitcoin.
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winbig777
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October 20, 2017, 05:49:54 AM |
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No. People have experimented with broadcasting transactions with ham radio, battery powered (no electricity)
You could even calculate hashes by hand, if need be (it might come to that with nuclear war, these maniacs who have power are insane)
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stompix
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October 20, 2017, 06:05:42 AM |
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only the person who created it will be able to answer that question.
You can goo to the newbie section and ask there, there are hundred of people who will answer you , from the thousands that know how bitcoin is working. The coin is basically a bunch of code, everyone knows what and how it works, it's an open book. There is no secret behind it that only it's creator knows. This isn't Lord of The Rings. I have read an article about quantum computer . Lots of researchers are working on it and it just moving steps closer to the reality . And if it comes to the reality it will destroy the whole crypto system we use, hence also destroy the bitcoin.
It is not going to destroy bitcoin. A quantum computer will just have a shot at breaking the privkeys but there are two important things: 1) there is no real quantum computer available and building one capable of that might take a lot of time 2) quantum computers are not magical they too have their limitations so combined with point 1 , it is possible to build a quantum resistant algorithm. There are at least two experimental that have been discussed here, although they are in the same stage as the computers. https://spectrum.ieee.org/tech-talk/computing/networks/qbitcoin-making-bitcoin-quantumcomputer-proofFunny that the inventor also has a Japanese name, but at least we know who this guy is.
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musharaf
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October 20, 2017, 06:20:56 AM |
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Yes there is a down fall for each and every thing. If we look at the currency market it is highly risky and fluctuated in a very short period of time for bitcoin it has very popular to us but we don’t know that for how long it will stable its popularity. Yes it is true that now it is at boom level and there are so many crypto currencies are introducing and we will see the future of that currenices.
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azguard
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October 20, 2017, 06:38:59 AM |
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One this will made this happen. No electricity. With this everything will go dark. No internet no bank transfers no tv no nothing everything is dark. This is one of possible ways, other involves that in some crazy scenario all countries go bankrupt then maybe bitcoin would fall to or will go up so high that you could buy state for 1 bitcoin.
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