The One Thing That Could Stop Bitcoin

[RealMalatesta]

Most people sees china stopping their miners from mining as a threat to the existence of bitcoin, but I must say that I really do not see it much as threat, first you have to see from the aspect of most investors as they will never react to such news as we can see form the time that we were first threatened by the government of china to stop all miners, and the market never reacted negatively to this.

If china stops mining now, I think it will only end up giving power to some other countries that will see it as an opportunity to boom by giving chance to miners to do so in their country. If you see how much mining gives to some of these miners, you will understand that it is not really easy to give up the mining just like that as some of them would rather prefer to relocate than staying in china.

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[Wysi]

Most people sees china stopping their miners from mining as a threat to the existence of bitcoin, but I must say that I really do not see it much as threat, first you have to see from the aspect of most investors as they will never react to such news as we can see form the time that we were first threatened by the government of china to stop all miners, and the market never reacted negatively to this.

If china stops mining now, I think it will only end up giving power to some other countries that will see it as an opportunity to boom by giving chance to miners to do so in their country. If you see how much mining gives to some of these miners, you will understand that it is not really easy to give up the mining just like that as some of them would rather prefer to relocate than staying in china.

This is a reality dose as investors are least bother about this news about China pushing to stop mining which keeps popping up once in every two month and if they do it then it will be a loss to them as there is some or the other country waiting to take over and I personally believe China and Russia will never give up on mining as it gives them a huge source of income and as you have rightly mentioned they might prefer to relocate to some under developed nation without much restriction if they are forced to stop mining.

[jarhed]

Most people sees china stopping their miners from mining as a threat to the existence of bitcoin, but I must say that I really do not see it much as threat, first you have to see from the aspect of most investors as they will never react to such news as we can see form the time that we were first threatened by the government of china to stop all miners, and the market never reacted negatively to this.

If china stops mining now, I think it will only end up giving power to some other countries that will see it as an opportunity to boom by giving chance to miners to do so in their country. If you see how much mining gives to some of these miners, you will understand that it is not really easy to give up the mining just like that as some of them would rather prefer to relocate than staying in china.

This is a reality dose as investors are least bother about this news about China pushing to stop mining which keeps popping up once in every two month and if they do it then it will be a loss to them as there is some or the other country waiting to take over and I personally believe China and Russia will never give up on mining as it gives them a huge source of income and as you have rightly mentioned they might prefer to relocate to some under developed nation without much restriction if they are forced to stop mining.

I think that China is manipulating the price and will continue to build up its own mining. Perhaps in the future, we will see even economic cryptocurrency wars between states.

[DaftAjax]

True, China is kind of the ideal environment for Bitcoin miners in terms of electricity costs and mining pools. However, if China does dump its Bitcoin, it will negatively impact Bitcoin to such a degree that it could fail. Ultimately, this is an unlikely scenario but not completely impossible. You sound like you know a lot about crypto though. If you're into trading, you should check out Vertex.You can find loads of good offers on coins on the marketplace.

You have a point - although it is possible that China may someday overtake the Bitcoin network and they have already established a strong presence. China remains a popular choice for miners regardless of nationality because of their cheap electricity, and leading Bitcoin mining pools.

China is indeed a powerful country, but AFAIK it's likely a communist type of government. Hence, the more reasons why the Chinese government wants to put a stop to Bitcoin--it does not help them. Yeah, sure we can compliment them for having an ideal/suitable environment for mining, but just some time ago, China kinda banned a lot of Altcoins, I'm not pretty sure about the details but it also affected Bitcoin. And now with the heat between mainland China and Hong Kong, since people of Hong Kong are considering using Bitcoin to save their money, Bitcoin is becoming an eyesore for the government. Also recently a mining station of Bitcoin was set ablaze, you might've notice some bumps on the price, but the more I think about it the more I conclude that it's intentional. Not sure if terrorism is the right term, but I don't it's hard to believe if it's just a coincidence.

[Shasha80]

The thing that can stop bitcoin is all people in the world agree not to use bitcoin and the entire internet network the world is dead.
So both of these reasons can make bitcoin unusable, not China which is destroying the fate of bitcoin as is widely discussed. Although
it is true that most investors come from China, but China could not stop bitcoin. Because as long as there is demand for bitcoin, nothing
can stop bitcoin.

[angrybirdy]

The thing that can stop bitcoin is all people in the world agree not to use bitcoin and the entire internet network the world is dead.
So both of these reasons can make bitcoin unusable, not China which is destroying the fate of bitcoin as is widely discussed. Although
it is true that most investors come from China, but China could not stop bitcoin. Because as long as there is demand for bitcoin, nothing
can stop bitcoin.

We all know that it is impossible to happen.
For me, the one thing that could stop bitcoin is being unable to make an improvement. If bitcoin will stay as it is even after so many years without any development, it will be left behind by other cryptocurrency.

[brightemo]

Regulation is a main reason why crypto may be in hard position

[carlisle1]

The thing that can stop bitcoin is all people in the world agree not to use bitcoin and the entire internet network the world is dead.

so with this you already said that its impossible for that to happen lol

So both of these reasons can make bitcoin unusable, not China which is destroying the fate of bitcoin as is widely discussed. Although
it is true that most investors come from China, but China could not stop bitcoin. Because as long as there is demand for bitcoin, nothing
can stop bitcoin.

they wont stop bitcoin but they can make movements and eventually shaken the market?as you have mentioned them having the most investors.

but its nonsense to tackle because i'm sure China government will not do stupid actions like this as they already knew it will affect their economy as well

[Baby Dragon]

I'm not even sure that anyone will actually be able to stop bitcoin

Actually I also think the same way, I mean lets think about how bitcoin get over different problems and challenges through the years. Some of the government officials from different countries hates bitcoin but it is still here handling it very well despite of those problems you can still see a lot of people supporting and believing on bitcoin. No doubt but bitcoin gives us so many opportunities and even benefits that is why I can't find any thing that can stop it. Maybe china has enough power to do it, but it will be difficult for them to stop bitcoin.

[hello_good_sir]

Most people sees china stopping their miners from mining as a threat to the existence of bitcoin, but I must say that I really do not see it much as threat, first you have to see from the aspect of most investors as they will never react to such news as we can see form the time that we were first threatened by the government of china to stop all miners, and the market never reacted negatively to this.

If china stops mining now, I think it will only end up giving power to some other countries that will see it as an opportunity to boom by giving chance to miners to do so in their country. If you see how much mining gives to some of these miners, you will understand that it is not really easy to give up the mining just like that as some of them would rather prefer to relocate than staying in china.

I am personally not under the opinion that if China's miners dropped off the grid, Bitcoin would be screwed and the coin would be dead essentially.

How did Bitcoin survive in the early stages? It was fine during then, maybe it'll revert back to that and transactions won't be as fast as nowadays (avging 15-20 minute blocks), but it'll chug on.

If China completely died as an industry we'll see a lot of newer companies enter the market in order to make up for the lost market share. We'd instantly see a bunch of new companies try and capitalise off the huge gap in the market and it'll be filled quite easily.

[gandame]

Only one thing i know that could stop bitcoin if internet connection has stop in the whole world bitcoin will die because no one can open there wallet.
That is only my thought and i think its never been happen that one.

[gentlemand]

Only one thing i know that could stop bitcoin if internet connection has stop in the whole world bitcoin will die because no one can open there wallet.
That is only my thought and i think its never been happen that one.

It is now broadcast over satellites, though I think it's receive only, and I remember experiments with broadcasting it over TV or radio waves in Finland. I expect internet free from centralised hubs to grow as well.

And if the internet is down as a whole bitcoin will be a minor concern.

[xiboothrezi]

mining bitcoin is not a simple thing, it requires a capable device for maximum results, maintenance and operational costs, especially electricity costs quite a lot. Of course it is still quite profitable, as a "first hand" that gets btc from mining results, especially if it is done collectively as described by the OP. This does not mean that mining individually is not profitable, it's just less effective, I think.

[JC btc]

Only one thing i know that could stop bitcoin if internet connection has stop in the whole world bitcoin will die because no one can open there wallet.
That is only my thought and i think its never been happen that one.

It is now broadcast over satellites, though I think it's receive only, and I remember experiments with broadcasting it over TV or radio waves in Finland. I expect internet free from centralised hubs to grow as well.

And if the internet is down as a whole bitcoin will be a minor concern.

Internet has been part of our everyday life now and majority of people cannot live and cannot do business without it, and companies also needs internet for them to operate. So, it won't happen the Internet will shut down unless something happened in our world, that shuts down the internet.

For me, the only thing that could stop Bitcoin is when all countries ban it as it will be hard for us to access and to transact using it.

[BitHodler]

It is now broadcast over satellites,

It's not going to do anything in case governments order the companies behind the satellites to terminate Blockstream's (or any other entity) contract. If that happens you can kiss your satellite goodbye.

It only provides an advantage as long as the government isn't your direct enemy, which they might become when Bitcoin grows larger at cost of their own financial system. That's why I'm not really hyped by these satellites.

[Eugenar]

I don't think anyone will be able to stop the circulation of bitcoin, there will still be people who use bitcoin, because bitcoin has price movements depending on demand at the exchange so I think bitcoin will still be there even though nobody is doing bitcoin mining anymore .

Basically, the less bitcoin supply can be mined, the higher the market price of bitcoin will become, the reason why is because of the shortage of mined bitcoin by miners, as well as the psychological impact that bitcoin will now have a fixed market volume that its market price will not be affected that much. In this case, we can expect huge market price and no possible reason to stop it other than when government said so.

[DaftAjax]

It is now broadcast over satellites, though I think it's receive only, and I remember experiments with broadcasting it over TV or radio waves in Finland. I expect internet free from centralised hubs to grow as well.

A country can block certain websites; even a site that has a specific word on it can be blocked e.g. Bitcoin, Blockchain, etc. and anything related to cryptocurrency. So maybe that's going to be their solution if they ever want to stop Bitcoin. Well unless you use a VPN.

And if the internet is down as a whole bitcoin will be a minor concern.

I think it's the only option if they wanted to completely terminate Bitcoin for good, but I doubt the whole government will ever do that. Internet is very essential to their operations now--a necessity even. And besides people will not be happy about it, businesses, corporations, even non-government organization e.g. NASA, Tesla, etc. And ultimately, they have to shut down everything that emits frequency as well.

It only provides an advantage as long as the government isn't your direct enemy, which they might become when Bitcoin grows larger at cost of their own financial system. That's why I'm not really hyped by these satellites.

I don't think the government will go that far. After all, Bitcoin is not a major issue for a government, they have a more worthy issue to solve and improve for the country.

[Eclipse26]

Yes, China is such a big and powerful country, not only when we're talking about cryptocurrency and bitcoin, but China as a whole. China has a big population and can really affect bitcoin just with their actions. But that doesn't mean they can stop bitcoin. Yes, it can bring a big impact but bitcoin won't stop functioning just because of China. Remember there are still people around the world. Bitcoin doesn't just revolve around China.
I just hope China won't do something that might affect bitcoin negatively...

[Boov]

I don't think anyone will be able to stop the circulation of bitcoin, there will still be people who use bitcoin, because bitcoin has price movements depending on demand at the exchange so I think bitcoin will still be there even though nobody is doing bitcoin mining anymore .

Basically, the less bitcoin supply can be mined, the higher the market price of bitcoin will become, the reason why is because of the shortage of mined bitcoin by miners, as well as the psychological impact that bitcoin will now have a fixed market volume that its market price will not be affected that much. In this case, we can expect huge market price and no possible reason to stop it other than when government said so.

Even the government cannot stop us. I dont see any thing that might stop bitcoin. Only internet could be the problem for us , nothing else. If internet will be shut down by government expect that many enterprises will make a rally againt government.

[sapnu]

I don't think anyone will be able to stop the circulation of bitcoin, there will still be people who use bitcoin, because bitcoin has price movements depending on demand at the exchange so I think bitcoin will still be there even though nobody is doing bitcoin mining anymore .

Basically, the less bitcoin supply can be mined, the higher the market price of bitcoin will become, the reason why is because of the shortage of mined bitcoin by miners, as well as the psychological impact that bitcoin will now have a fixed market volume that its market price will not be affected that much. In this case, we can expect huge market price and no possible reason to stop it other than when government said so.

Even the government cannot stop us. I dont see any thing that might stop bitcoin. Only internet could be the problem for us , nothing else. If internet will be shut down by government expect that many enterprises will make a rally againt government.

I think there is nothing that can stop bitcoin. Even the government cannot stop it because they don't know who runs bitcoin since it is decentralized. They are planning to enter a cryptocurrency and want to regulate it but they can't do that. Maybe the internet can stop bitcoin because it is online but it is impossible to shut down knowing that the internet is being used all around the world and even the government is using that so there is nothing that can stop Bitcoin from growing. With regards to the topic about china, I dont think also that they can shutdown bitcoin yes we can say that China is a big country but look at the supporters and investors all over the world compare to that country.