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Author Topic: Is there any way to destroy the bitcoin?  (Read 2324 times)
markint
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December 09, 2017, 09:05:20 PM
 #121

Is there any way to destroy the bitcoin?  Not to hack or fake it but completely destroy the system.
I believe that nothing that has been done by man has yet achieved perfection, and it will always be possible for malicious minds to find a way to violate practically anything. And this seems especially true in everything related to developments based on digital technology, taking into account the great advances that are presented every day in this field. Therefore the people behind bitcoin engineering have to face big challenges every day to keep bitcoin safe.

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December 10, 2017, 01:13:20 PM
 #122

Bitcoin has gained a strong market, a proof for the same is the recent plans of bitcoin addition to the world market Nasdaq and other such markets. So, an external force will not tend to destroy the growth of bitcoin or lead it to end with some issues. Bitcoin is power-packed to overcome any issues.

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December 10, 2017, 01:34:32 PM
 #123

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

Of course there is a way, there is always a way to anything after all. The people themselves can do this thing. Developers didn't find a common language with the miners, the users hold the coins and don't want to run them in turn. Legalize and attempt to regulate bitcoin can also destroy everything.

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December 10, 2017, 01:39:52 PM
 #124

Maybe in my opinion, the way to destroy bitcoin for now I'm sure is not there and I hope bitcoin will not forever be destroyed. because it is very good for investment in the future.

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December 10, 2017, 01:46:31 PM
 #125

Is there any way to destroy the bitcoin?  Not to hack or fake it but completely destroy the system.
i think there's no way to destroy bitcoin but to create a new one i think it can happen.Think if you destroy crypto or bitcoin all of an easy transaction will be gone and the earnings here will be gone so no one can think to destroy it.It's give conveniece in life and knowledge also,that's all people want in to life to learn and to earn everything you need or you like is here,We can gambling here with no hard body movement and it's easy here not like to gambling in real,we can also do a business here like sell some gadgets and knowledge to earn.

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December 10, 2017, 01:59:22 PM
 #126

Definitely not easy, but also not entirely impossible, there are certain things that could stop Bitcoin. Bitcoin miners are people who solve crypto hash functions to get rewarded with Bitcoin. These people have special computer programs that solve difficult encrypted messages. If these miners could be shut down, no more Bitcoins will be generated, which could bring down the system.

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December 10, 2017, 02:00:38 PM
 #127

Is there any way to destroy the bitcoin?  Not to hack or fake it but completely destroy the system.
i think there's no way to destroy bitcoin but to create a new one i think it can happen.Think if you destroy crypto or bitcoin all of an easy transaction will be gone and the earnings here will be gone so no one can think to destroy it.It's give conveniece in life and knowledge also,that's all people want in to life to learn and to earn everything you need or you like is here,We can gambling here with no hard body movement and it's easy here not like to gambling in real,we can also do a business here like sell some gadgets and knowledge to earn.

This is not like a simple structure. In decentralized systems, you can't kill the main brain of the system easily which means bitcoin is very strong against possible attacks of the hackers and others.

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tigan_gangmei
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December 10, 2017, 02:01:55 PM
 #128

Yes, by switching off the 'Internet'. Got it?

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December 10, 2017, 02:05:35 PM
 #129

Bitcoin is the virtual currency, if not have internet, bitcoin is dead.

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DronICO
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December 10, 2017, 02:25:51 PM
 #130

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

Look at it:
Quote
7 ways to kill bitcoin:
Buy large number of miners ($20 Billion) & 51% attack
Filter out, discard transaction packages
Attack pools
Inject virus into bitcoin code base
Block the fiat tradings
Routing splitting to induce hard forks
Hard fork and kill the network effect...
(c) Gongsheng Pan, deputy governor PBoC.
A possibility is closer than any crypto maniac thinks. Be carefull because China always has a plan for your money. They hyped it as well as they will close it like that.
jlomabao@gmail.com
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December 10, 2017, 03:04:00 PM
 #131

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

bitcoin is computed through blockchain and it is owned by no one and it is the internet, so if you want to destroy bitcoin then destroy internet.
Xtra_Coin
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December 10, 2017, 03:09:36 PM
 #132

Is there any way to destroy the bitcoin?  Not to hack or fake it but completely destroy the system.
It seems bitcoin will definitely disappear if you turn off the Internet. But if you try to consider the obvious reasons for the disappearance of the bitcoins. Bitcoin can replace more promising crypto currency. Which will be easier to extract, which will be faster, safer and less to take commission for transactions.

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December 10, 2017, 03:10:44 PM
 #133

to destroy bitcoin just cut internet: D
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December 10, 2017, 03:12:19 PM
 #134

Probably, I think someone can destroy bitcoin through making another successful cryptocurrency. Or something more efficient and interesting  
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December 10, 2017, 03:40:40 PM
 #135

Definitely not easy, but also not entirely impossible, there are certain things that could stop Bitcoin. Bitcoin miners are people who solve crypto hash functions to get rewarded with Bitcoin. These people have special computer programs that solve difficult encrypted messages. If these miners could be shut down, no more Bitcoins will be generated, which could bring down the system.
If this happens then it can stop Bitcoin, but when Bitcoin supply is reached then I'm sure it can be avoided. The Bitcoin supply is determined and we may reach its limit some time. This is the consequence, when Bitcoin has reached the limit then Bitcoin seems to be getting sought after by many people and this could lead to an increase in Bitcoin prices. I've predicted that in the future Bitcoin price could increase when suppply has stopped.

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December 10, 2017, 03:42:59 PM
 #136

You know what? People carries the real power.People themselves can easily destroy bitcoin by not using it on any kinds of crypto trading.And also if some create a successful coin i think bitcoin's value will fall down

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December 10, 2017, 04:03:28 PM
 #137

One way  that can bring down bitcoin just like any market is by shorting that market too much or a typical pump and dump. Investors would lose interest, market would plummet, bubble will pop.
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December 10, 2017, 04:06:56 PM
 #138

The direct answer to your question, is yes, you can “destroy” bitcoin but not in the traditional sense.

The blockchain holds a record of the coins that get sent in and out of an address. The only way to send coins out of an address is to use the private key that created that address. No private key, no ability to send or verify those coins.

One could potentially “destroy” coins by sending them to an address that has no private key, or to simply send it to yourself and erase all copies of your own private key. This will result in those coins being lost in that address forever effectively destroying them.

Though technically speaking, there’s no real way to confirm that you’ve deleted all copies of a private key
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December 10, 2017, 05:10:07 PM
 #139

One could potentially “destroy” coins by sending them to an address that has no private key, or to simply send it to yourself and erase all copies of your own private key. This will result in those coins being lost in that address forever effectively destroying them.

I think it only burns a small part.

We know it is easier to destroy than to create.
Then, are there any benefits to destroy the bitcoin?
What is clear, neither anything else can destroy bitcoin.

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December 10, 2017, 05:29:14 PM
 #140

The only way to destroy bitcoin is shutting down all nodes. Even in such case, blockchain already exists and Bitcoin activity can be restarted at any time. So, Bitcoin stored in your wallets will worth anything anyway.

Attack the Bitcoin is different. For instance, banks can attack the Bitcoin value via Futures Trading shorting the price of Bitcoin (that is, betting that thje value of Bitcoin will be lower in the future).
I encourage you to not invest any cash on Bitcoin right now, until waters calm down after the opening of futures trading happening by this month.

Keep safe your hands, keep safe your money!

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