Can Bitcoin fail? What do you think is the most probable scenario why Bitcoin mi

[BuyBuyBitcoin]

Although highly unlikely to me it's some hidden flaw in the algorithm that would allow cheating somehow and there would be no way to fix it. what do you think?

Most likely way btc would die.

The input costs required to make new btc exceed the price of btc in the marketplace for an extended period of time.
As such the miners go bankrupt and can no longer afford to mine, this kills the btc network.
No Profit, No Miners , No btc

Example: https://btcmanager.com/u-s-mining-pioneer-gigawatt-files-for-bankruptcy-in-washington/

If too many miners can't make a profit btc dies.
It is one of the major flaws in PoW design. (Insane Input Costs to maintain it's network.)

How does a miner overspending millions have anything to do with what OP asked?

Lack of Miners can cause a Death Spiral in a PoW coin Network like btc.

He didn't go bankrupt because he was earning to little from mining, he overspent. Read the article.

I suggest you work on your reading comprehision

The crash in cryptocurrency prices since December of 2017 has lead to more trouble for GigaWatt, as investors who put tens of millions of dollars into the company were looking for a payoff.

After none of the hosting facilities were completed due to construction delays and cost overruns, several investors have filed at least four lawsuits against GigaWatt, the latest one being filed in October 2018. Liens filed against the company by construction companies violated the company’s lease with the Port of Douglas County, which initiated eviction proceedings in early November.

The Price Crash triggered the lawsuit, and the fact is , if he had been earning enough mining , the investors would have been unnecessary.

the company’s downfall could be attributed to the ambitious expansion it launched in 2017, where a multimillion-dollar campus of 24 prefabricated crypto mining “pods” was planned. The project was backed by multiple investors as well as local government officials, who saw it as a way to transform the local agricultural-based economy.

If mining a chain isn't profitable enough for someone, they move onto a different chain. That leaves less miners trying to solve the next block and more opportunity for the existing miners to earn the reward... this is basic stuff.

It further Centralizes Control of said chain, however if the majority of miners can not meet their energy bill or pay off their creditors, a death spiral can occur.

It's $5mil a day miners earn in fee's, same as July 2017 when bitcoin was $2600

https://www.blockchain.com/charts/miners-revenue?timespan=all

Now work out the math to see how many mining pools would have to leave to centralize the chain.

https://www.blockchain.com/pools


We know you have to post that bitcoin is dead and everyone should get out, your statements don't have any resemblance of understanding how this works though.

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[ambisyon]

Based on the current situation, we had already experience bitcoin fall but I believe this is just a temporary fall and would probably recover in the months to come. People should not panic as btc will no longer dive further and after this major adjustment would mean a progressive btc market that investors would be expecting soon. Patience should be extended and hold your btc instead of doing panic selling.

[badungs]

in my opinion, bitcoin will not be a failed product because this currency has been circulating for more than 9 years and currently bitcoin has become the most dominant digital currency and attracted by all investors. Bitcoin has gone through all circumstances and is able to survive until now. even though the price of bitcoin is volatile but this currency is still able to survive in various situations.

[maksimukr1989]

I think if some critical error had been found we would have found out about it already.I think the biggest threat to bitcoin can only be a quantum computer.

[Twentyonepaylots]

Although highly unlikely to me it's some hidden flaw in the algorithm that would allow cheating somehow and there would be no way to fix it. what do you think?

There is a hidden flaw. It is called a "Quantum Computer" that can be used to crack the ECDSA algorithm that bitcoin uses.

There is no easy solution to the threat QC creates.
Yes, we can make a new address format that is quantum safe, but we CANNOT protect the coins in old "lost" addresses, because to protect them, the owner would have to move the coins to a new kind of address, and it cant be done, because those coins are lost.

   Bitcoin price value nose dive to a year low as posted on the market thread. But it is not the end of it, remember that there are a lot of Factors affecting the crypto market now a days, The in fight on the status on the market really affects the confidence level of the consumer's, plus the negative news posted on social media all of these contribute to the drops on the price value resulting to massive sell off. But i am confident that the market will recover soon.