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Author Topic: Possible reasons that Bitcoin will be gone  (Read 1368 times)
mjglqw
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December 07, 2017, 01:30:32 AM
 #41

too many hardforks may destroy bitcoin
Hardforks are actually healthy in my opinion. It just shows how some(definitely not all) forkers are trying to think and try out a solution for the blocksize issues. Hardforks are only bad in terms of price and crypto-newbloods can possible get confused with them seeing lots of coins with "bitcoin" in their names.

I can only think of one reason. That is if all the governments ban it internationally.
The point of bitcoin is to have no government control. This will definitely NOT kill bitcoin. I can only see this causing bitcoin's price to crash due to all the fear that could possibly arise if this happens. Crash in price =/= dead.

I think that a real threat to Bitcoin could be that if prices keep rising and therefore mining being even more profitable and then many more people wanting to jump on that train and therefore starting to mine. This will lead to a massive energy usage that most countries wont be able to supply. Therefore governments sure will step in and maybe prohibit mining. As mining is something physical, its not that easy to do if its considered illegal. I think that this could become a real issue for Bitcoin and crypto in the future.
Good thinking; but I don't see this happening. More miners = more blocks being mined = higher mining difficulty. If we get a huge surge on miners then profitability will go lower, hence some miners will probably move to some other cryptocurrency to mine for profit. So in the end the miner count and profitability sort of balances out.

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Aryanto28
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December 07, 2017, 01:37:38 AM
 #42

Can you think of possible reasons why Bitcoin could be gone, banned or lose value?
One possible cause of bitcoin loss is the government's ban on bitcoin regulation. According to the news I heard that bitcoin will be banned by banks in my country next year. Then how is the bitcoin fate owned by the investor that has been invested. what can still be sold and make money?

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December 07, 2017, 06:14:57 AM
 #43

Can you think of possible reasons why Bitcoin could be gone, banned or lose value?
One possible cause of bitcoin loss is the government's ban on bitcoin regulation. According to the news I heard that bitcoin will be banned by banks in my country next year. Then how is the bitcoin fate owned by the investor that has been invested. what can still be sold and make money?

I don't understand how banks can ban bitcoin? They have absolutely zero control over bitcoin whatsoever? It is true governments may ban bitcoin or deem it to be illegal and I think that's a big challenge it may face but more likely is governments trying to regulate it.

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December 07, 2017, 06:46:34 AM
 #44

the volume of trading is reduced, the number of negative cases about Bitcoin. Maybe both of these are enough to lower the current Bitcoin price. However I think to eliminate the value of Bitcoin is highly unlikely.

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December 07, 2017, 12:04:20 PM
 #45

When people realize the price is just artificial and bitcoin itself doesn't have much use as a currency it will die. Many other coins are just better than bitcoin and do their job. Bitcoin was intended as a currency and it's not being used as such. Treating like an asset will only last so long. Fees are also getting a bit too much, specially withdrawals from exchanges/websites.

Yes for the currency use case, but as a digital gold. Gold has always had high fees, low portability and really an artificial value purely used as protection.
If you are going to use a store of value currency bitcoin seems like the obvious solution. I think heavy regulations will come in, but organisations will figure out a way to package it and sell it.

Ok but then people should totally stop treating it like a currency. There is no point in having platforms accept bitcoin as payment if it's just going to be digital gold. No one is buying groceries with gold in real life. There are way too many people and projects that are still treating bitcoin as a currency so if people really want to make bitcoin succeed as digital gold then everyone should actually treat it as that.

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December 07, 2017, 12:15:44 PM
 #46

There are multiple reasons that will cause bitcoin to be gone, but realistically speaking it may not happen. Reasons are First no Electricity, if this happens bitcoin will not exist and we are back to the dark ages, with this being said, if there is no electricity worldwide then there is no Internet as well. The other reason is that there is no market. If people does not support bitcoin then it will not exist simple as that. Bitcoin still rely on the community that supports it. The hardware and stuff are only secondary to that.
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December 07, 2017, 12:42:10 PM
 #47

oh, if there is no electricity, the lack of bitcoin won't be our only problem...at this stage, there is less and less probability that it can disappear...too much things is involved in this


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December 07, 2017, 12:46:02 PM
 #48

Can you think of possible reasons why Bitcoin could be gone, banned or lose value?

Maybe if the government will be alarmed of the continuous hike of its price. They will do things like they will banned bitcoin because they have no control to it.  Plus the people that are earning to it dis not pay and would not pay any tax to bitcoin.  Shutting down internet connection will likewise be the reason that bitcoin will be gone.

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December 07, 2017, 12:57:45 PM
 #49

I think the only reason impossible to beat would be: People stop to use Bitcoin.

The raising of Bitcoin it has appeared when the coin reached more people than just some experts in tech. That means that those who make Bitcoin grow are people  and it would be people (using and buying it) who will have the power to make Bitcoin gone.
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December 07, 2017, 12:59:39 PM
 #50

I think if there is no internet we can not do much, I do not know will it happen, enjoy for now, for a good future.
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December 07, 2017, 01:46:35 PM
 #51

The end of bicoin will come when some quantum computer will be able to instanly discover private key for any wallet.
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December 07, 2017, 01:58:10 PM
 #52

There are also reasons for bitcoin to disappear. All countries banned bitcoins and people did not use bitcoins anymore. Bitcoin no longer trusts and is attacked by hackers. internet no longer exists

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December 07, 2017, 02:04:22 PM
 #53

Can you think of possible reasons why Bitcoin could be gone, banned or lose value?
In my own point of view, the possible reasons why bitcoin could be gone, banned or lose its value, if people stop using and investing bitcoin, and by stopping bitcoin by the government of all countries that they think that bitcoin is just a scam or not legit and they can also declare bitcoin as illegal from that. I hope in the future bitcoin will still exist or live because bitcoin is very valuable to me.

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December 07, 2017, 02:11:49 PM
 #54

Its not gonna happen in reality. Grin
I think the possible reason is when we dont have a electricity coz when we do have electricity we dont have internet so when we dont have internet we cant make a bitcoin and the other possibility is when the government alarmed coz they dont have control on bitcoin so that the ban the bitcoin in their country...

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December 07, 2017, 02:28:50 PM
 #55

In my mind the main reason for bitcoin can be lost is because it is forbidden, because it claims insecure bitcoins and threats so the government prohibits the use of bitcoin. The next reason is the existence of a worldwide disaster that resulted in the destruction of the Internet network globally.

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December 07, 2017, 02:33:56 PM
 #56

I think if there is no internet we can not do much, I do not know will it happen, enjoy for now, for a good future.

Yes, I agree. If the internet is already gone, the bitcoin will also be gone. It sounds funny, but that's a possible reason. There are so many possible reason why bitcoin could be gone. It could be the lose of the electricity, lose of the internet, bitcoin banned, bitcoin price decreases, or people doesn't use it anymore. It's very possible that bitcoin will be gone because of this possible reasons. But I hope, bitcoin will still exist in the future because this can help a lot of people.

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December 07, 2017, 03:01:42 PM
 #57

Can you think of possible reasons why Bitcoin could be gone, banned or lose value?
For me, there are 2 things that bitcoin would be gone. first is time, as time goes by the risk and the amount of bitcoins could decrease or increase as well, but there would be a time that bitcoin would reach its limit at start to fall down and be forgotten. And second is the other virtual money, as other virtual money increase its value, the people are converting and starting to switch to the other fresh and possible good outcome or value that it could give them.

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December 07, 2017, 03:07:23 PM
 #58

If they (governments) kill the bitcoin exchanges (simply by severing the links between them and banks), that may not 'kill' bitcoin, but that will effectively wipe out mainstream users.  It'll be back to 2011 pricing and utility.     

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December 07, 2017, 04:06:29 PM
 #59

If they (governments) kill the bitcoin exchanges (simply by severing the links between them and banks), that may not 'kill' bitcoin, but that will effectively wipe out mainstream users.  It'll be back to 2011 pricing and utility.      
Bitcoin can disappear only for one reason, users will switch to another currency and it will displace bitcoin.
All other "causes and effects" are impossible.
To forbid, not to start up, to disconnect-it will not be possible any more.
The use of bitcoin in the post-apocalyptic society is possible, even without the presence of the Internet-But this is another story.  Grin

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December 07, 2017, 04:12:07 PM
 #60

Can you think of possible reasons why Bitcoin could be gone, banned or lose value?

 Governments (will the help of banks) will discredit it.  It will give bitcoin a bad name to the public, they'll show that bitcoin are being used in illegal transactions and that "bad people" are the only one who benefits with crypto-currency.  They will do this so they (government and banks) can introduce their own cryptocurr technology which of course, they have control.


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