Bitcoin will kill itself

[athanz88]

One of the best features of Bitcoin is it's anonymity. This is also one of the reason why countries are banning or at least hesitant to embrace the technology. From money laundering to illegal drug transactions to human trafficking. We always blame the FUD from mainstream media, financial institutions like banks, the government etal. But do you think, the one that would "kill" Bitcoin is actually the nature of it.

Here's another news where Bitcoin was being used in an illegal activity. This will raise a lot of eyebrows because it concerns our children.

http://www.news.com.au/finance/money/investing/bitcoin-could-become-illegal-after-its-blockchain-was-discovered-containing-child-abuse/news-story/bf486e6e8de453fd7ad2abba019952dd 

I kinda dont agree with people who keep saying that bitcoin is used in illegal activity. You know what? Your fiat money is used to in prostitution, on gun making and market, on bribery, on gambling, on balck market, on porn, on other criminal things too. Yet why no people says that "this will raise a lot of eyebrows because it concerns our children" on fiat money?.

Like any other time when people says bitcoin is dead or over or will kill itself, bitcoin will comeback stronger.

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[careCentre]

I don't really agree with this, because bitcoin is made to be a medium of exchange, a currency to be exact. The unlimited wants and unsatisfactory of the people lead for the decline of bitcoin. People kill the nature as well as the bitcoin. Criminals use a lot of ways to fund their illegal activities. Besides, Bitcoin transactions are not 100% untraceable.  if the government wants to track it they can track any transaction. Anonymity is an advantage more than a disadvantage. It is just another excuse to ban Bitcoin. Criminal activities existed way before the development or creation of bitcoin. Criminals fund their activities in various ways.

[issacwilliam]

that's true, many factors can affect the contamination of the name of bitcoin, It is possible that bitcoin might kill itself but not the cryptos.

[shesheboy]

that's true, many factors can affect the contamination of the name of bitcoin, It is possible that bitcoin might kill itself but not the cryptos.

It is possible that bitcoin might kill itself but not the cryptos.

if bitcoin killed itself , there is also a posibility that all cryptos can also be killed because bitcoin is the one that controlls their value. whatever happens to bitcoin , can also  have an after effects to other cryptos.

that's true, many factors can affect the contamination of the name of bitcoin

yes i do agree that there were too many factors that affects the name of bitcoin but we shouldnt be affected to it , instead we just have to foccus more on what we currently do (which is hodling our bitcoin ) because those factors are still nothing to bitcoin. bitcoin  is kinda bit strong , in which case it can always survive no matter what happens.

[Len_nin]

Probably bitcoin is involved in many illegal activities and used like a currency,but on the other hand fiat money along with payment for common things also are used a lot for illegal stuff and much more than bitcoin.So we should ban all money to prevent any possible act of crime

[safonoruu]

It is not at all completely anonymous. All these transactions can be trace back to bank deposits as exchanges use KYC.

[PIR]

No one create things that in the end it will only end up or destroy itself, I don't think this will happen to bitcoin, maybe the only thing that can kill or make bitcoin cease is when nobody patronize it, nobody accept it and use it then it become useless itself but for as long as there is someone, country and investor accept it it will continue to live and serve its purpose.

[minhquang3869]

Everything has two sides of it, everyone uses anonymity, and the government likes the transparency that makes the crypto market so unstable, like a puncture needle. How big BTC, though I believe, BTC will always thrive.

[meandmrjones]

+Bitcoin will kill itself


-HEY BITCOIN IF YOU'RE READING THIS PLS KNOW THAT THIS IS NOT THE END THERE IS STILL HOPE YOU'RE TOO YOUNG TO DIE YOU DESERVE TO LIVE YOU ARE NOT ALONE THERE ARE MILLIONS OF PEOPLE GOING THROUGH HARD TIMES WE ARE WITH YOU PLS CALL SUICIDE HOTLINES

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[Ineedtopee]

Yeah there are pros and cons to bitcoins capabilities but I don't see any of those as much of a con. Those illegal transactions that bitcoin is being used for has been around for a much longer time than bitcoin has. If anything, we can then argue that money will kill itself by applying the same logic 

[lolliyasch]

It has got both benefits and limitations. Some people are actually investing and using it just because of anonymous feature only.

[Mazda17]

I think what you say is true, because bitcoin is also difficult to cheer by cloud people, and we also need paper money, for transactions and bitcoin will be lost what if the owner forgot to paswod

Actually, our thinking should be calm to solve the problem of bitcoin paper money so that we can not think bad and find it difficult to face it so in the future if there are people who feel forgotten with paswod then we need to learn to make two paswod so we still choose paswod backup and also us should be more calm to solve the problem that we are more happy to face it all.

[Theo222]

for me yes it can kill itself easily because it is anonymous and we cant track wo send and receive that transaction.
government see this problem thats why they banning bitcoin to their country in anyform

[sultanali]

Yeah, this is quite a popular opinion and it all derives from the fact that bitcoin has grown too large on its own and hence its value is not tied to any other cryptocurrency whereas Ehtereum is the base support for many of the newly introduced altcoins and is hence on a safer place than bitcoin.

[mudasarali43]

I think bitcoin is not killing itself it is just the traders hand who decrease the price and in result the other peoples are starting to selling and when they sell at lowest price than the again start buying at lowest price and in this way the big traders who do this they earn well but the other will bear only loss,

[Stephen Gornick]

I don't agree that bitcoin will kill itself. It fully depends on the users and only they can define the destiny of bitcoin.
It's not the first time that bitcoin is going through rough time and probably there will be even worse but it always survives and so it will be this time too.
And only market can tell if the growth is too high and what happens next. People just don't have enough patience and have too big expectations.

[Denker]

for me yes it can kill itself easily because it is anonymous and we cant track wo send and receive that transaction.
government see this problem thats why they banning bitcoin to their country in anyform

Bitcoin is not anonymous! It is pseudonymous. Big difference!
And please enlighten please which government with economical significance in banning Bitcoin??
Furthermore Bitcoin was designed as a decentralized network so that banning by governments will simple have no impact.
People will go underground and continue using it. You wanna stop Bitcoin? Well, shut down the entire internet! That's the only possibility.

[Jackolantern]

Bitcoin is not anonymous, but rather pseudo-anonymous. This is known to most people using cryptographic products. However, many do not know why Bitcoin is by default not anonymous and what can be done to establish a person's identity or, conversely, to strengthen its privacy

[hurriebra49]

Bitcoin is very useful cryptocurrency and having a lot of investment and a huge trade volume in the world the demand is increasing and buying volume is also increasing that is showing bitcoin will not kill himself,

[leoleobeck]

that's true, many factors can affect the contamination of the name of bitcoin, yes one of them you mentioned above. Bitcoin was made not to help those illegal activities to succeed but because bitcoin has a feature that would probably become a way to help corrupt officials or people bitcoin will be at risk.