bitcoin is most likely going to die, here is why...

[Dudeperfect]

No one is saying that Bitcoin is going to last forever but as of now, I don't see any other coin having that potential to replace Bitcoin in terms of user base, trade volume, utility value and growth rate over the years. Yes, there is always a possibility of any other coin coming up with a better system and other aspects as I mentioned above and that might replace Bitcoin but that's the case with each and every innovation out there. It is always said that self-driving cars will replace current cars but that doesn't mean we will stop using current cars until then, do we?

[1714900142]

1714900142

[Juggy777]

So you don't own a bitcoin but yet you're here on it's platform to discuss your views, why should we even care for your views when you don't even own it, for all you're either biased or a paid post to try and undermine the popularity of bitcoins but I don't buy into your arguments. Bitcoins is never going to die, some bumps are expected but it'll rise so stop spreading fud here.

[NewCryptonian]

Crypto currency might serve a purpose in the future, but that doesn’t mean bitcoin will. Another crash is coming I am afraid. New cryptos will wipe out bitcoin, it’s going down to $1

Just like new computers constantly replace older ones.

[carlisle1]

1. Bitcoin value is all based on sentiment. Most people say it is under valued now, but that is only a reflection of how you feel about it. And this is fine, because in comparison most stock prices are irrational as well (especially these days). people make lots of money buying over valued stocks. But the problem I see is that the fear-of-missing-out sentiment has passed. Almost everyone know about bitcoin now.

Wrong. Not even 30% of people in the world know about Bitcoin. You see, you're prediction is nothing but a reflection of your attitude towards BTC. You think that since you and your friends know about it, everyone does as well. I advise you to check how many people have access to Internet, how many people have basic computer skills, you'll be surprised. I live in a small town and if I were to start asking around maybe one out of 10 people would know what BTC is and not even 1 in a 100 would own one.

Great catch on this  mate,OP is just another troll and just want to make another panic in our community,talking about 6 years ago and youve been here?common dude tell me that it was a story to tell to marines?

Crypto currency might serve a purpose in the future, but that doesn’t mean bitcoin will. Another crash is coming I am afraid. New cryptos will wipe out bitcoin, it’s going down to $1

Just like new computers constantly replace older ones.

Let me guess how much the whales paying someone like your kind just to make this good story to gain panicked and weak members go sell their bitcoins?

[Raline]

Perhaps bitcoin will dip into $4000 by the end of year.

is it possible that bitcoin returns to the starting point where price n BTC is as cheap as it used to be, which can only be used to buy a cigarette? ..

[ngusmin]

I do not own any bitcoin, but I knew about bitcoin 6 years ago, before most people even heard about it. Except I didn't buy it then, I was wrong about that prediction. So I am trying to see if I can make some money now.

But looking into the future, I am still not convinced about bitcoin. Before anyone get all defensive, I would like to know WHY you think it will go up. Because I would like to make some money too.  

In my view, there are several problems:

1. Bitcoin value is all based on sentiment. Most people say it is under valued now, but that is only a reflection of how you feel about it. And this is fine, because in comparison most stock prices are irrational as well (especially these days). people make lots of money buying over valued stocks. But the problem I see is that the fear-of-missing-out sentiment has passed. Almost everyone know about bitcoin now. And they also know Bitcoin has dropped 70% of the value since its highest peak? Once someone get burned by something, the others will be a lot more cautious. And when people become rational about a investment that is built on sentiment, that is a huge problem for future growth. there are many examples of puffed up stocks crashing down to earth, and never to recover its value. The ones that can recover and soar in the long run all have great business fundamental to support its value, in other words "making money".

2. Bitcoin is no longer unique. Regardless of what people say, bitcoin is not like gold. Sure, the amount of bitcoin is finite, but it is not unique compared to other cryptocurrency. The only thing special about it, is the name itself. And there are tons of new cryptocurrencies now, and people can create infinitely more types, IF it is profitable. Correct me if I am wrong, what is the fundamental difference between a "bitcoin" and a "ripple" other than the value? nothing at all.

3. technology risks. There is always a possibility a more advanced cryptocurrency will emerge and completely outshine bitcoin. I believe there are already some cryptocurrency that transact faster than bitcoin? Not sure of the detail but I have read it somewhere. And when it happens again and again bitcoin will be wiped out. Remember we used to use CDs? tapes? camera films? Bitcoin was created almost a decade ago, that is a lifetime ago in the technology world.

other issues: practicality, and safety. It doesn't actually make paying for something easier, and some argue this is safer than traditional banking, well just look at the news of people lost coins or got hacked.


I do think it is possible for bitcoin to go up (not skyrocket though), but it seems the headwind is getting really strong. So why do you think you should hold on? Instead of just saying "it will go to the moon", "it will change the world", please provide reason.

It is still a possibility and is unlikely to actually happen. I believe opportunities will always be there, and bitcoin still has a chance to increase in value.

[sidsanj]

fiat currencies will not be replaced totally by the crypto currencies. even though crypto currencies is too risky, with the time it will be also improved to reduce the risk. we cannot say this is not practicable since in Japan there are places that can pay with BTC. it will take time to compete against fiat currencies. but my opinion is that the BTC will be the main currency in future trading(like usd is the dominance in current world tradings). correct me if i am wrong

[NewCryptonian]

fiat currencies will not be replaced totally by the crypto currencies. even though crypto currencies is too risky, with the time it will be also improved to reduce the risk. we cannot say this is not practicable since in Japan there are places that can pay with BTC. it will take time to compete against fiat currencies. but my opinion is that the BTC will be the main currency in future trading(like usd is the dominance in current world tradings). correct me if i am wrong

You are wrong. There, corrected.

USD is backed by the number 1 economy in the world. BTC is backed by..... oh, nothing.
There will be millions of crypto currencies if people really want to create them, in fact it’s so easy to create exact same bolockchain as BTC. Nothing unique there

[Nilda]

I lost count on the number of times bitcoin has died in this forum. Whatever that doesn’t kill you, makes you stronger. Bitcoin will surely outlive the skeptics. 

[pooya87]

i only need one reason to know your comment here is bullshit and to ignore you, and that is the fact that you took the time to come to a bitcoin forum, sign up and tell us that bitcoin is going to die! LOL.

based on your comment and your 1-3 bullshit reasons you are an altcoin bag holder who has fallen for the advertisement and you thought you are going to be rich but now you are getting dumped on and you are losing a lot of money.

[Leyss]

In fact, nothing bad happened with bitcoin. Therefore, in order for him to die, there are no objective reasons. Just bitcoin and the crypto-currency market are going through hard times. This period will pass and everything will be fine. Now in the market there is a certain manipulation so that newcomers in the crypto currency and psychological unbalanced sold their bitcoins at very low prices. It's just business.

[ladydark]

Bitcoin is being hacked only due to the mistakes of its holder either storing it in an exchange or revealing the wallet's private key publicly.

It's true that some altcoins get transacted much faster than bitcoin,but we should also consider that their transaction volume is very low when compared to bitcoin.

[NewCryptonian]

i only need one reason to know your comment here is bullshit and to ignore you, and that is the fact that you took the time to come to a bitcoin forum, sign up and tell us that bitcoin is going to die! LOL.

based on your comment and your 1-3 bullshit reasons you are an altcoin bag holder who has fallen for the advertisement and you thought you are going to be rich but now you are getting dumped on and you are losing a lot of money.

I care about you and don’t want you to lose your home and your shirt, that’s why I warn you to sell now! It’s going way down and another crash seem to be coming

[Elachious12]

I don't believe or agree with your analysis, bitcoin can not just die like that. There is mass adoption of bitcoin so it can't die.

[javierherr79]

Bitcoin is unique only because it's first, well known in the world and original creator gone. Not gone gone, but he [probably never gonna return. Maybe only in death bed he will tell people, he is creator.

[lakita]

I think that can not happen, even if it drops to $ 4,000, it will grow again at the end of the year

[Google+]

just calm the bitcoin price and the bitcoin circulation will never die until this moment alone the bitcoin price could get back up again, this time the bitcoin price is falling but this is only temporary because I'm sure bitcoin when there is good news bitcoin prices can be recovered on top again .

[Cofee.BLUE]

1. Bitcoin value is all based on sentiment. Most people say it is under valued now, but that is only a reflection of how you feel about it. And this is fine, because in comparison most stock prices are irrational as well (especially these days). people make lots of money buying over valued stocks. But the problem I see is that the fear-of-missing-out sentiment has passed. Almost everyone know about bitcoin now.

Wrong. Not even 30% of people in the world know about Bitcoin. You see, you're prediction is nothing but a reflection of your attitude towards BTC. You think that since you and your friends know about it, everyone does as well. I advise you to check how many people have access to Internet, how many people have basic computer skills, you'll be surprised. I live in a small town and if I were to start asking around maybe one out of 10 people would know what BTC is and not even 1 in a 100 would own one.

That's right, for a long period of time of it's existence I believe that it's popularity is much higher percentage than in the past years of it. As a matter of fact as of now there are the continuously increasing numbers of people that already adapting and supporting it. So I think dying of bitcoin won't be happen.

[Cryptokeke]

Bitcoin wont definitely die, it has already passed many obstacle and dumping and pumping process many times and it always reach a new milestone so im sure it will be back at its peak like before or much better.

[Variogam]

Reason for using Bitcoin: token with decentralized ledger governed by math (cryptography) is the future in my opinion and because Bitcoin proved it has best development and decentralization for almost a decade it is safest to hold. If you did some research and still believe there is no significant difference between Bitcoin and Ripple, better keep ignoring the cryptocurrencies, because there are hundreds of altcoins for a reason: for professional traders to extract value from newbies with get rich quick mentality who ignoring fundamentals.