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Author Topic: Is there any way to destroy the bitcoin?  (Read 1938 times)
lucifochrome
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November 01, 2017, 09:39:20 PM
 #101

Well there are ways that i can think of, one is to destroy the internet and you get to destroy bitcoin with it but the thing is we will be back to the dark ages, the other thing is to have every country ban bitcoin, not just new ICO's but a total ban and that will be the end of it. However, as to what is happening now bitcoin's price is on the rise and more small players will join in because of being attracted to the price.
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November 01, 2017, 09:43:03 PM
 #102

I'm not sure but if you shut all miners down at the exact same time then Bitcoin is destroyed.
Please explain how you would do it. I'd like to know your ideas because theoretically that could stop BTC, but in reality it will never happen. As long as the Internet stays on you can't switch off mining, just like you can't tell people to stay in their homes and expect them to comply.
The only way to destroy Bitcoin would be to break the encryption by creating a machine powerful enough to do it.

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November 01, 2017, 09:52:56 PM
 #103

I'm not sure but if you shut all miners down at the exact same time then Bitcoin is destroyed.
Please explain how you would do it. I'd like to know your ideas because theoretically that could stop BTC, but in reality it will never happen. As long as the Internet stays on you can't switch off mining, just like you can't tell people to stay in their homes and expect them to comply.
The only way to destroy Bitcoin would be to break the encryption by creating a machine powerful enough to do it.

That's right. I think it can't be done, because the miners are all over the world. It is nearly impossible to shut down the whole internet or electricity at the same time. I think at the beginning of Bitcoin it was possible. But this would be one thing who can destroy Bitcoin even though this will never happen.
I think so too, maybe a supercomputer is the only realistic thing to destroy Bitcoin.
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November 02, 2017, 11:49:16 PM
 #104

The bitcoin itself will disappear, having given way to more perfect technology. Even before possible destruction of all its system. I think, only the huge pandemic of a special virus can be the most possible scenario of destroy. This virus can be specially developed by the government order and is everywhere implemented within several years. And then when it will extend rather widely, it can be started with the purpose to destroy all system of bitcoin
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November 02, 2017, 11:57:23 PM
 #105

It is possible but some much has been invested in bitcoin so it will be difficult to destroy it.

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November 03, 2017, 12:04:34 AM
 #106

No internet, no Bitcoin..... take down the internet and Bitcoin has gone

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November 03, 2017, 12:09:35 AM
 #107

Behind bitcoin there's more than the network and the system. Behind bitcoin there's an idea -- and ideas are indestructible.
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November 03, 2017, 01:37:15 AM
 #108

Is there any way to destroy the bitcoin?  Not to hack or fake it but completely destroy the system.

I think bitcoin is good when it come in security so I think no one can destroy it. But if we are going to talk if who can stop to those people who's earning bitcoin all I can say is if they can shutdown the internet. Internet is the bridge to earn bitcoin without this bitcoin is useless.

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November 03, 2017, 02:03:53 AM
 #109

Is there any way to destroy the bitcoin?  Not to hack or fake it but completely destroy the system.
the possibility that can destroy bitcoin, cessation of the Internet network, the internet is very important for all its users.

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November 09, 2017, 06:54:14 AM
 #110

Just hit the wrong button and they are gone!  Roll Eyes


See ETH example.

Bitcoin is no more solvable into real money. If you try to sell 100k coins you can't! No one will buy it!

The real money just took the lead!
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November 27, 2017, 09:14:29 AM
 #111

Well there are ways that i can think of, one is to destroy the internet and you get to destroy bitcoin with it but the thing is we will be back to the dark ages, the other thing is to have every country ban bitcoin, not just new ICO's but a total ban and that will be the end of it. However, as to what is happening now bitcoin's price is on the rise and more small players will join in because of being attracted to the price.
the answer is simple just destroy the internet because cryptocurrency is on internet and if we will be able to destroy internet there will be no cryptocurrency in the world which we all know not going to happen ever in the world. I think all governments around the world will set up a separate department for cryptocurrency because it has a great influence on the financial status of a country as well as the world and also has a great impact on the economy of the country.

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November 27, 2017, 09:28:33 AM
 #112

Well there are ways that i can think of, one is to destroy the internet and you get to destroy bitcoin with it but the thing is we will be back to the dark ages, the other thing is to have every country ban bitcoin, not just new ICO's but a total ban and that will be the end of it. However, as to what is happening now bitcoin's price is on the rise and more small players will join in because of being attracted to the price.
the answer is simple just destroy the internet because cryptocurrency is on internet and if we will be able to destroy internet there will be no cryptocurrency in the world which we all know not going to happen ever in the world. I think all governments around the world will set up a separate department for cryptocurrency because it has a great influence on the financial status of a country as well as the world and also has a great impact on the economy of the country.

                                           Simple as that. There is no need for complicated answers, but there is also one that we really need that can trigger bitcoin and internet,it our electrical power, once it is shut down, totally we will go back to the dark ages, we can't deny the fact that without energy we cannot perform those transactions and internet aside will be useless also.

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November 27, 2017, 09:51:26 AM
 #113

This question has been answered many times already. One way to destroy to spread some negative news about bitcoin that will result in a massive panic selling. When all of the coins have been sold and no one will buy, then that will be the time that bitcoin is destroyed. The second way is to destroy the internet, if you can destroy it.

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November 27, 2017, 09:54:52 AM
 #114

Is there any way to destroy the bitcoin?  Not to hack or fake it but completely destroy the system.
Of course only goverment if all goverment in all the world banmed this i think bitcoin will destroy  so i hope it didnt happen because bitcoin is so very profitable and helpful to all to buy some foods and paying some bills.

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November 27, 2017, 10:11:04 AM
 #115

Is there any way to destroy the bitcoin?  Not to hack or fake it but completely destroy the system.
It is not possible to know it. But it may also be possible that in many countries bitcoin banning which can affect and read on it. So it can be said that since online currency is so difficult to say the future.

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November 27, 2017, 04:19:02 PM
 #116

I'm not sure but if you shut all miners down at the exact same time then Bitcoin is destroyed.
Please explain how you would do it. I'd like to know your ideas because theoretically that could stop BTC, but in reality it will never happen. As long as the Internet stays on you can't switch off mining, just like you can't tell people to stay in their homes and expect them to comply.
The only way to destroy Bitcoin would be to break the encryption by creating a machine powerful enough to do it.

Even thought if the internet is going to be shutdown there is still no way that someone could destroy bitcoin, if the internet is going to be shutdown let's say for example, we can't say that bitcoin was already destroy, it is just out there alive and kicking, it is us who are dead if we couldn't access the internet, no internet, no bitcoin, I hoe you guys know that.

Bitcoin is decentralized, meaning, no one could touch it, except of course for Satoshi Nakamoto who invented bitcoin, I bet he is the only one who could do whatever he wanted to do with it.

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December 09, 2017, 08:23:02 PM
 #117

Is there any way to destroy the bitcoin?  Not to hack or fake it but completely destroy the system.

Yes. Although destroying Bitcoins isn't logical and quite stupid for someone who is in the crypto world to do, there are really many ways to do so. One is bombing the root of the block-chain literally. Lol.
Another is when goverments decide to prohibit the usage of bitcoins and other cryoto currencies present.
Legalization of bitcoins can also break it. Because with legalization comes with regulation. And if bitcoins and other crypto currencies get regulated, then it means others will lose interest. A lot. Because decentralization isthe most important asset of bitcoin. And without it., Bitcoin will lose morethan half of its supporters including me.
Well as for as relation of government is concerned to I don’t think so any government can do this because bitcoin is going to play a big role in the economy of any country if they regulate bitcoin so it can also help them and it can be good for bitcoin as well what I believe that internet can be only reason who can destroyed bitcoin the rest of there is no chance of it to destroyed.
In the future I think governments will set up a separate department for cryt curency because it has a great influence on the financial status of a country as well as the world.
Well I agree with you there are a lot of ways to destroy bitcoin but as you said when a government stop use of bitcoin but here I have also a question that why any government can do so bitcoin is acutely going to play a big role in economy of any country and bitcoin have also reduce unemployment in many countries so I don’t think so any government can take action against bitcoin.
Yes there are so many ways for the destruction of bit coin for example all investors stops their investment in it  there will be no life of bit coin as the life of bit coin is dependent on socio economic condition and thing is world war is also very dangerous for the survival of bit coin
It is so stupid thinking that Bitcoin can ever destroy. Bitcoin is worldwide no. 1 crypto currency. But in very rare cases that will be happened only. Means government banned on Bitcoin. The people can’t support of it. And the other on e it investors stops the investing money on Bitcoin, and then we can think over it. Mostly people want to invest money on Bitcoin as they made their life comfortable and convenient.

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December 09, 2017, 08:28:59 PM
 #118

To destroy it, you need to shut down the internet worldwide. That will never happen.
Society will revolt  Grin
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December 09, 2017, 08:51:28 PM
 #119

There is an attack that has been discussed more for Proof of Stake currencies, but is also possible with Proof of Work currencies like Bitcoin. It is so deadly that you will need billions of dollars or a hard fork to stop it.

So the original blockchain will be "destroyed", although it's possible that a fork continues to live after it.  (Don't panic: it is nothing totally new, it was already discussed in more "technical" altcoin threads years ago.)

The attack can even be profitable for the attacker, but he needs about 5 billion dollars of "liquid" capital at the start.

First, the attacker buys mining hardware and/or cloud mining contracts for 4 of the billion dollars, and begins to mine. This should give him pretty fastly a 50+% advantage.

Then, he borrows Bitcoin with a large margin, using the remaining billion a collateral, and short sells them. At the same time he issues a larger double spend and then launches an 51% attack. The double spend can give him a bit of profit - but it's the fact that he did control the network that will make the price plummet down. If he times his short sell well, then he can make billions of profit.

If his intentions are to destroy Bitcoin, then he can invest the profits in more hardware and keep 51%ing the network, effectively forcing it into shutdown or a hard fork with a mining algorithm chainge - and uncertain outcome.

Even if the attacker "takes his profits" and doesn't continue to 51% the chain, if this attack once happens  successful, then the whole confidence in Bitcoin will be severely hit and it's likely that a few months later it will be dead or almost-dead (price <$10).

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December 09, 2017, 08:59:01 PM
 #120

Why should some one even conceive this kind of thought in his/her hart is it that we human being are just wicked and anti progress in natour. You seeking ways to destroy bitcoin instead of finding means to improve it, well for your information you can't destroy what you can't build. Bitcoin can only be destroy by those that developed it e.g santoshi Nakamoto himself alone can do that or better still if you are able to turn off the blockchains and the entire internet itself.

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