Bitcoin Forum
December 05, 2016, 08:59:07 PM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Poll
Question: What are the most likely things that may cause bitcoin to fail ?
Exploit discovered in deployed bitcoin client code
Exploit discovered in crypto underlying bitcoin
Exploit discovered in comm. protocol underlying bitcoin
Government-enforced shutdown
General lack of interest leads to slow death
End of mining, fee-based fails to reward miners appropriately leading to en-masse exodus
A new, better system emerges
Bitcoin becomes a store of value instead of a currency
Something else

Pages: [1] 2 3 »  All
  Print  
Author Topic: z  (Read 6039 times)
znort987
Early bitcoin miner
VIP
Member
*
Offline Offline

Activity: 74



View Profile
z
July 01, 2011, 11:07:00 AM
 #1

z

1Fj3WdCLXhYtKY25xZAdBv38mLoPfoHry
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480971547
Hero Member
*
Offline Offline

Posts: 1480971547

View Profile Personal Message (Offline)

Ignore
1480971547
Reply with quote  #2

1480971547
Report to moderator
1480971547
Hero Member
*
Offline Offline

Posts: 1480971547

View Profile Personal Message (Offline)

Ignore
1480971547
Reply with quote  #2

1480971547
Report to moderator
1480971547
Hero Member
*
Offline Offline

Posts: 1480971547

View Profile Personal Message (Offline)

Ignore
1480971547
Reply with quote  #2

1480971547
Report to moderator
hobogo
Member
**
Offline Offline

Activity: 80



View Profile
July 01, 2011, 11:36:44 AM
 #2

People stop using drugs and heavy artillery  Grin
Timo Y
Legendary
*
Offline Offline

Activity: 938


bitcoin - the aerogel of money


View Profile
July 01, 2011, 11:42:36 AM
 #3

Bitcoin grows too fast. 

GPG ID: FA868D77   bitcoin-otc:forever-d
markm
Legendary
*
Offline Offline

Activity: 1778



View Profile WWW
July 01, 2011, 12:12:01 PM
 #4

Of the options provided, becoming a store of value seems the most likely, however i would not consider that a fail, because as a store of value it would also, in my imagination, be a currency just kind of a different 'tier' of currency.

Of course I would not want to clutter up the Bitcoin blockchain with tiny transactions well within what I can afford to pay from my bitNicKeL pocket/purse, heck I would not even bother the Martians with such trivia by using Martian BotCoins instead of pocket change.

But come the day I have enough MBC to stash away that they could buy a whole Bitcoin, heck yeah I'd like to pick up another BiTCoin to enhance the family fortune, maybe even use that as collateral to pick up a nice income property...

-MarkM-

Browser-launched Crossfire client now online (select CrossCiv server for Galactic  Milieu)
Free website hosting with PHP, MySQL etc: http://hosting.knotwork.com/
carlerha
Sr. Member
****
Offline Offline

Activity: 252


View Profile
July 01, 2011, 01:02:49 PM
 #5

I think you need to add "a new system emerges", ie. not one that is necessarily better than Bitcoin inherently, but more practical and appealing to law abiding citizens (I'm thinking Google mobile payments and the like)

BkkCoins
Hero Member
*****
Offline Offline

Activity: 784


firstbits:1MinerQ


View Profile WWW
July 01, 2011, 01:17:51 PM
 #6

Why don't you have the most obvious one: lack of merchant support. If people can't use it to buy and sell stuff they care about from vendors they want to deal with then it's not going to get where it needs to go.

Sannyasi
Sr. Member
****
Offline Offline

Activity: 455



View Profile WWW
July 01, 2011, 01:19:25 PM
 #7

lack of interest is what all the other ones lead to

1DxP5iL6hN5Gd3cwmDz9uFSntW8ALBQaGK

http://gamerkeys.net/common/home.htm <- the best place to get games!

my portfoio: http://windowsofamind.com
Lupus_Yonderboy
Full Member
***
Offline Offline

Activity: 153



View Profile
July 01, 2011, 01:21:46 PM
 #8

Bitcoin becomes hopelessly tied to extremist ideaologies that are rejected by a majority of people. The only people to adopt it are extremists, scam artists, and those trying to make a quick profit off of the fringe types. Bitcoin officialy becomes the "currency of teh crazy." Widespread adoption fails.
Trader Steve
Hero Member
*****
Offline Offline

Activity: 725


"How do you eat an elephant? One bit at a time..."


View Profile
July 01, 2011, 01:59:11 PM
 #9

Bitcoin could fail if governments stop interfering with mutually voluntary transactions:

http://economicsandliberty.wordpress.com/2011/06/22/bitcoin-a-new-commodity-created-to-serve-market-demand/

Not likely to happen though... Smiley
Rassah
Legendary
*
Offline Offline

Activity: 1624


Director of Bitcoin100


View Profile
July 01, 2011, 03:07:45 PM
 #10

Why don't you have the most obvious one: lack of merchant support. If people can't use it to buy and sell stuff they care about from vendors they want to deal with then it's not going to get where it needs to go.

Hmm, not a lot of merchant support for gold, silver, or stock certificates...

phillipsjk
Legendary
*
Offline Offline

Activity: 1008

Let the chips fall where they may.


View Profile WWW
July 01, 2011, 03:41:47 PM
 #11

None of the above.

Two of my expected bitcoin failure modes are listed, but not the one I think is most likely: we will learn how insecure the average computer really is. Until now, they was no direct way to steal money from somebody's equipment.

Aside: I have noticed that over the past few years, the big computer companies don't sell computers anymore: they sell "solutions". "Computer" has become synonymous with "machine running Ms Windows" with all of the extra hardware that implies.

James' OpenPGP public key fingerprint: EB14 9E5B F80C 1F2D 3EBE  0A2F B3DE 81FF 7B9D 5160
bitplane
Sr. Member
****
Offline Offline

Activity: 321

Firstbits: 1gyzhw


View Profile WWW
July 01, 2011, 04:46:18 PM
 #12

Someone with loads of coins continually cashes out and keeps the BTC worth pennies until long after everyone has lost interest in the project.
BkkCoins
Hero Member
*****
Offline Offline

Activity: 784


firstbits:1MinerQ


View Profile WWW
July 01, 2011, 05:34:34 PM
 #13

Why don't you have the most obvious one: lack of merchant support. If people can't use it to buy and sell stuff they care about from vendors they want to deal with then it's not going to get where it needs to go.

Hmm, not a lot of merchant support for gold, silver, or stock certificates...
That's right - no one runs around buying/selling stuff with those either today.

cunicula
Hero Member
*****
Offline Offline

Activity: 756


Stack-overflow Guru


View Profile WWW
July 01, 2011, 05:45:49 PM
 #14

People are apparently most worried about bitcoin a) being perceived as useless b) being overtaken by a competitor.

Interesting that exploits are less of a concern. Given the user composition of this forum vis-a-vis
the likely composition of people who may adopt bitcoin soon, I would expect the exploits categories to be over-represented
and the useless/competition categories to be underrepresented.

Perhaps uselessness and competition are the big issues.

▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁▁
        AltCoinInternalExperts                Get Your Altcoin Promoted On Social Media       
▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔▔
Rassah
Legendary
*
Offline Offline

Activity: 1624


Director of Bitcoin100


View Profile
July 01, 2011, 05:47:30 PM
 #15

Why don't you have the most obvious one: lack of merchant support. If people can't use it to buy and sell stuff they care about from vendors they want to deal with then it's not going to get where it needs to go.

Hmm, not a lot of merchant support for gold, silver, or stock certificates...
That's right - no one runs around buying/selling stuff with those either today.

Though I wouldn't call gold, silver, or stock a "failure"

Tasty Champa
Member
**
Offline Offline

Activity: 84


View Profile
July 01, 2011, 06:00:02 PM
 #16

Journalists that keep wanting to buy in, using their pull to disrupt the prices by making things up so the price goes down. They see it as wallstreet 2.0 and the only sure way they know how to fuck with it is through disturbing things.

It's like we have to just stop everything for a few days just to let them numbskulls in.
giszmo
Legendary
*
Offline Offline

Activity: 1568


¡ɥɔʇɐʍ ʇsnɾ &#7


View Profile WWW
July 01, 2011, 06:25:12 PM
 #17

network take over ...

yeah sorry I know most people here think that is impossible but I'm pretty sure that with 2M$ at hands, I could do that.

Litt
Sr. Member
****
Offline Offline

Activity: 350


View Profile
July 01, 2011, 06:36:16 PM
 #18

Disinformation. Because we let the current media outlets do the talking for us when we have the power of the internet.
Jaagu
Member
**
Offline Offline

Activity: 62



View Profile
July 01, 2011, 07:17:24 PM
 #19

Wrong paradigm. Instead of assuming the death of bitcoin (in one or another form) one should ask of how fast and furious shall bitcoin’s success be. Look at those charts: total number of nodes, total number of google searches, total network hashing rate.
Now extrapolate them to the future. It is encouraging, isn’t?
Timo Y
Legendary
*
Offline Offline

Activity: 938


bitcoin - the aerogel of money


View Profile
July 01, 2011, 07:37:55 PM
 #20

None of the above.

Two of my expected bitcoin failure modes are listed, but not the one I think is most likely: we will learn how insecure the average computer really is. Until now, they was no direct way to steal money from somebody's equipment.


People are already working on a client that splits the private key between a secure server and your computer.
Other people are working on secure liveCDs.

This won't be an issue long term. Hardly anyone is going to store a wallet.dat file on their windows machine 1 year from now.

GPG ID: FA868D77   bitcoin-otc:forever-d
Pages: [1] 2 3 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!