How Bitcoin Ends

[solarion]

Is the cryptocurrency just going to end up reenforcing the financial system it was supposed to disrupt?

Bitcoin was a clever idea. Idealistic, even. But it isn’t working out quite as its developers imagined. In fact, once all the coin has been mined, bitcoin will simply reinforce the very banking system it was invented to disrupt.

Watching the bitcoin phenomenon is a bit like watching the three-decade decline of the internet from a playspace for the counterculture to one for venture capitalists. We thought the net would break the monopoly of top-down, corporate media. But as business interests took over it has become primarily a delivery system for streaming television to consumers, and consumer data to advertisers. Likewise, bitcoin was intended to break the monopoly of the banking system over central currency and credit. But, in the end, it will turn into just another platform for the big banks to do the same old extraction they always have. Here’s how.

Read more:  https://www.fastcompany.com/40537404/how-bitcoin-ends

Alyssa I do not think this is your article then why you promoting that to here. You will find the blockchain wallet would be comes with the charge for creating the wallet.
This is how future wallet will be used as I know.
I definitely believe that bitcoin will not be banned or ends in the market.

[1715275571]

1715275571

[1715275571]

1715275571

[jackky]

I don't think Bitcoin will end at all, these articles are just personal ideal about bitcoin and i think it's not that worth for us to consider.

I do not think that Bitcoin will end, but in many countries that do not have a well-developed economy, Bitcoin has started to take part in it. Besides, people have more choices when they invest. Choose Bitcoin to get the most profit. Bitcoin is banned in many countries, but in practice, Bitcoin is still growing in many countries.

[1NV3ST0NM3]

I think bitcoin will end. End is inevitable whether due to technology obsolescence or any other reason. Fiat too didn't began to end one day. But yes the ways written in article are really too old to be true. I mean its in itself quite unimaginable that bitcoin can end due to such foolish ways. you can stop trading of bitcoin in the white market but imagining it absolutely obsolete in the black market too is impossible. It is the biggest fuel of dark web how can you stop it?

[Jaya1995]

Bitcoin will not be endless ... And will continue to rise and grow ... So it will not be easy to break the movement of cripto currency

[Jarndice]

I think this is a good point.   A few thoughts:

(1) It is unrealistic to expect a more egalitarian economy to evolve overnight.  In my opinion, no one reading this forum today will still be alive by the time that cryptocurrency has transformed the global system to improve the distribution of global resources.  It will take a long time, but it is a battle worth fighting for the next generation.

(2) The banks and the gold industry have hardly begun to put up a fight against crypto, and the only reason that is the case is because they will look to profit from it.  If the major banks wanted to kill it, they would have done so through lobbyists and legislation already.  I'd  be more concerned about the gold industry.

If you own Bitcoin, you need to be aware that the fight may only just be beginning.  Just imagine the havok any significant financial consortium could wreak upon the price of Bitcoin by accumulating and then selling BTC in bombs across all the exchanges?  Causing price-instability through market manipulation would be very easy to do given the low market cap of BTC relative to the assets at the disposal of the banks.  Let's be frank: we have to hope for buy-in from the banks for now, and it seems that is happening to some degree.  (I'm using "banks" a little generically here to refer to any and all well capitalized institutions that decide to take a stance against cryptocurrencies.)

(3) If Bitcoin doesn't solve the energy demand of mining through either technological breakthroughs in hardware or some other creative measure, I really don't see how it can survive in the medium-run (10+ years?).  But that may not matter: other coins will.  As for the talk about the energy use, I don't see anyone complaining about the horrendous cost of mining more gold than we'll ever need for industrial applications, or the energy used by people sitting around watching Jerry Springer during the afternoon.  Bitcoin gets a bad wrap in this regard; but still, it sure seems like the achilles heel of BTC.

The best thing you can do if you are a US Citizen is to encourage your state reps to get on board the crypto train.   Look at Arizona, look at Wyoming, etc.   Make sure they hear you!

[Kprawn]

Institutional capital is definitely going to have an impact on Bitcoin. Most of the early investors had big dreams for this

technology and a lot of them came from the Cypherpunk group, advocating the use of privacy-enhancing technologies to

bring about social and political change. Those groups have been replaced by profit driven Capitalists.  

[senin]

Most likely bitcoin will reach some top price point and after some bad news, panic will begin and it will quickly depreciate. Such bubbles with high cost can not last long. I see a perspective in altcoyins, more even in tokens, which are created to perform specific tasks and, on the whole, make our life comfortable.

[multikript888]

Now there are no contracts for crypto currency because Russia has not yet introduced a legal regulation for crypto-currency. And in fact, I think this will not happen.

[Budugbass]

Let people have to argue.. due of skewed opinion will test the resilience of a crypto based on trust and decentralization.
Clearly i think Bitcoin is still at the beginning of development, early recognizable, still early in the spotlight.
I'm sure though bitcoin like a new thing that's created without being predictable exactly, day by day.. as long as there is still internet connection, this will be increasingly widespread to the whole world and still many people are interested.
It seems difficult to predict when bitcoin will end, because of course this life will lead to a more modern direction and i'm sure bitcoin will still be supported.

[mersal]

Now there are no contracts for crypto currency because Russia has not yet introduced a legal regulation for crypto-currency. And in fact, I think this will not happen.

My opinion is bitcoin will nor ends so quickly the mining of the last bitcoin is too though and its value in future is too high and so bitcoin will not end for many years so the investors had a good future.

[jona]

If it was going to be possible in that form it would have been possible before now,government and the banks would have fine there way to it.

[pekavcilar01]

Bitcoin never ends. I hope they do not finish.
The current market is unbelievably bad. I hurt myself very much. I hope things will be nice.
I could not make money by buying and selling.

[kristensoto]

Is the cryptocurrency just going to end up reenforcing the financial system it was supposed to disrupt?

Bitcoin was a clever idea. Idealistic, even. But it isn’t working out quite as its developers imagined. In fact, once all the coin has been mined, bitcoin will simply reinforce the very banking system it was invented to disrupt.

Watching the bitcoin phenomenon is a bit like watching the three-decade decline of the internet from a playspace for the counterculture to one for venture capitalists. We thought the net would break the monopoly of top-down, corporate media. But as business interests took over it has become primarily a delivery system for streaming television to consumers, and consumer data to advertisers. Likewise, bitcoin was intended to break the monopoly of the banking system over central currency and credit. But, in the end, it will turn into just another platform for the big banks to do the same old extraction they always have. Here’s how.

Read more:  https://www.fastcompany.com/40537404/how-bitcoin-ends

bitcoin is an advanced system using blockchain technology, despite the fact that due to the advantages that slow and delay, bitcoin can not be used in real life properly, saying bitcoin will end is true but not rightnow, because bitcoin is still being used as a trading currency, as long as more and more investors keep investing into bitcoin, the price of bitcoin will keep rising more and more making it harder to die in the future.

[colenax]

Is the cryptocurrency just going to end up reenforcing the financial system it was supposed to disrupt?

Bitcoin was a clever idea. Idealistic, even. But it isn’t working out quite as its developers imagined. In fact, once all the coin has been mined, bitcoin will simply reinforce the very banking system it was invented to disrupt.

Watching the bitcoin phenomenon is a bit like watching the three-decade decline of the internet from a playspace for the counterculture to one for venture capitalists. We thought the net would break the monopoly of top-down, corporate media. But as business interests took over it has become primarily a delivery system for streaming television to consumers, and consumer data to advertisers. Likewise, bitcoin was intended to break the monopoly of the banking system over central currency and credit. But, in the end, it will turn into just another platform for the big banks to do the same old extraction they always have. Here’s how.

Read more:  https://www.fastcompany.com/40537404/how-bitcoin-ends

I do not understand the article. but I think, and my logic says, this article leads the reader to become increasingly afraid of bitcoin. yes, I think this is a misdirection

[Hudadahuda2018]

I don't think Bitcoin will end at all, these articles are just personal ideal about bitcoin and i think it's not that worth for us to consider.

It's hard for me to say bitcoin will end because as far as I know bitcoin every year more and more people are using bitcoin so the future of bitcoin is so bright that it is unlikely that bitcoin will end.

[itsmesanti]

Is it possible that bitcoin will become zero value ?

[krishnapramod]

Oh Bitcoin is going to die again? 
That's bullish!
Add it to the stupid articles on 99bitcoins.com
Man why you link to such dumb articles?
This article reads the same like one of those 90s one, where it was written so often how the internet is going down.
The more often I read that the more Bitcoin I wanna buy! More of it please!

There have been around 263 Bitcoin has died dumb articles, but IMO this article at least have a bit of logic and hypothetical criticism about what once all the coins have been mined, the cost of mining, and Bitcoin re-creating the market mechanisms of gold thus encouraging hoarding, speculation, discouraging transactions and in the end not being able to break the monopoly of the banking system over central currency and credit.

2140…Too far to answer. Energy consumption is a solid obstacle in the path of Bitcoin/cryptos. World renewable energy production increased by record levels in 2016. With all the mining going on, the GPU market is expanding and in somewhat that sense it wouldn't be wrong to expect that the renewable sector/solar industries would grow enough to meet the energy demands of Bitcoin/crypto mining. Too early to answer.