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Author Topic: Bitcoin May Extinct  (Read 1790 times)
crossabdd
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October 29, 2019, 02:03:11 AM
 #61

I once thought like you, if bitcoin can be made, then bitcoin can be destroyed. it's only by reversing the calculation. but this is the difference. Bitcoin runs on blockchain. a chain that is connected between the past and the future. like this simply. for 1 to 10, you have to pass 2-3-4-5-6-7-8-9. when you want to destroy number 1 through number 2 you have to solve calculations 1 to 2, but when you do that. the miners have continued their calculations. so when you have not completed the calculation in the number 2. you have moved in the number 3, which has a more difficult calculation. and that goes on and on. this is a simplification in my opinion. and you don't need to be afraid. because the bitcoin algorithm is currently very difficult. countries aren't that easy to kill or block bitcoin. unless they turn off their internet.
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October 29, 2019, 02:49:12 AM
Last edit: October 29, 2019, 03:00:56 AM by Reatim
 #62

Gents, Am I the only one thinks that bitcoin can be erased in the same way it is created? Dont you think any attack can kill it?

https://hackernoon.com/bitcoins-biggest-hack-in-history-184-4-ded46310d4ef

If this happened, anything can.
What will happen after satoshi dies?
Lol Satoshi was considered dead after that long time of inactivity and not showing off,and even if he still alive yet he’s already dead for the market so what’s the sense for that?
Quote
What will happen when bitcoin stands alone.
What will happen if it is banned globally?
You are thinking too much.maybe what if You leave the community and never come back?
Quote
What if goverments start working on killing bitcoin?
Dont you think goverments can work on it to kill it?
Thy will never do that,look in future all of them will surely adopt bitcoin and may consider buying also
Quote

Btc is not like gold. You cant make the gold disappear suddenly as it is possible for btc. I am a fan of btc but I am also scared. It should be protected but who will do it? Exchanges? The top btc holder?


But bitcoin cannot be disappears as well,like gold this is one important thing in our computer generation and gold will be need in physical while bitcoin in virtual

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October 29, 2019, 02:54:53 AM
 #63

nothing lasts forever in this world, just waiting for the queue to die, let alone bitcoin, I feel that bitcoin must die too, because it is impossible to be eternal bitcoin. if later bitcoin dies / goes extinct, then surely everything here can prepare for extinction ... !!

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October 29, 2019, 08:40:25 AM
 #64

indeed such fear will always exist but I am sure bitcoin will still survive even though satoshi nakamoto is dead, and bitcoin still stands alone nobody can control bitcoin even the government is also unable to stop the circulation of bitcoin, bitcoin will never die because bitcoin has been created and stored in many places so that bitcoin is hard to die.
I get your point that bitcoin can handle problems because it has faced a lot of challenges before and despite of that bitcoin remains and giving us opportunity. I don't think that bitcoin can be easily extinct or disappear, we can't change the fact that its possible but its better if we stay optimistic. As long as were here supporting and believing it, I think bitcoin is capable on handling things very well just like in the past years.

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October 29, 2019, 08:59:21 AM
 #65

a lot of security is breaching in the crypto and blockchain industry. May you know binance's BTC hack issue. But noone can kill bts ultimately. But you can balance your invest by investing in various crypto assets or sto.

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October 29, 2019, 11:42:41 AM
 #66

Bitcoin may extinct after many many years but in my opinion it will not extinct. The price may go back to its first times but it can be still one of the best payment options and even be the best in the world.

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October 29, 2019, 06:38:20 PM
 #67

The probability that Bitcoin disappears for various reasons: market demand, cyber attack or bans is really very low, Bitcoin has the backing of millions of people and expectations about the future are good.

The risk that Bitcoin is running is that an Altcoin suddenly emerges with a lot of innovation and an aggressive approach that allows a massive and practical use, in that case, Bitcoin can lose its leadership, but so far it has not happened.
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October 29, 2019, 06:58:36 PM
 #68

Gents, Am I the only one thinks that bitcoin can be erased in the same way it is created? Dont you think any attack can kill it?

https://hackernoon.com/bitcoins-biggest-hack-in-history-184-4-ded46310d4ef

If this happened, anything can.
What will happen after satoshi dies?
What will happen when bitcoin stands alone.
What will happen if it is banned globally?
What if goverments start working on killing bitcoin?
Dont you think goverments can work on it to kill it?

Btc is not like gold. You cant make the gold disappear suddenly as it is possible for btc. I am a fan of btc but I am also scared. It should be protected but who will do it? Exchanges? The top btc holder?


Everything in the world has a definite end (except taxes Tongue), but unfortunately, none of what you have said really applies to Bitcoin and a lot of crypto-currencies. The codes been around 10 years with little to no flaws in it and no one has yet been able to hack the system.

The probability that Bitcoin disappears for various reasons: market demand, cyber attack or bans is really very low, Bitcoin has the backing of millions of people and expectations about the future are good.

The risk that Bitcoin is running is that an Altcoin suddenly emerges with a lot of innovation and an aggressive approach that allows a massive and practical use, in that case, Bitcoin can lose its leadership, but so far it has not happened.
It depends, people don't like change at all and I doubt a random altcoin that mimics bitcoin's decentralization would be able to take over, they'd require a lot of new features and a great team behind it.

The biggest risk is blockchain technology becoming obsolete.

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October 29, 2019, 07:52:03 PM
 #69

What will happen after satoshi dies?
If you look at the bitcoin development in the last nine years you will understand that Satoshi is dead and the rest of the dedicated team is taking care of the development.

What will happen when bitcoin stands alone.
Stand alone in what sense  Huh.

What will happen if it is banned globally?
There is no way that is going to happen.

What if goverments start working on killing bitcoin?
They need to spend a ton of money to try and it is impossible at this stage.

Dont you think goverments can work on it to kill it?
If they could they would have already done that.

Btc is not like gold. You cant make the gold disappear suddenly as it is possible for btc. I am a fan of btc but I am also scared. It should be protected but who will do it? Exchanges? The top btc holder?
How can bitcoin disappear all of a sudden, you have complete authority as long as you hold the coins and you hold your private key.


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October 29, 2019, 09:19:48 PM
 #70

Maybe you're right
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October 29, 2019, 09:53:13 PM
 #71

I'm not worried about it because that is so rare to happen. We are on a digital age now. The government and all other sectors are more likely to adapt bitcoin. The technology is fast-changing. We all know that people now needs immediate actions and resolutions, online transactions, etc. All these are possible with digital processes.

 
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October 29, 2019, 09:58:16 PM
 #72

Gents, Am I the only one thinks that bitcoin can be erased in the same way it is created? Dont you think any attack can kill it?

https://hackernoon.com/bitcoins-biggest-hack-in-history-184-4-ded46310d4ef

If this happened, anything can.
What will happen after satoshi dies?
What will happen when bitcoin stands alone.
What will happen if it is banned globally?
What if goverments start working on killing bitcoin?
Dont you think goverments can work on it to kill it?

Btc is not like gold. You cant make the gold disappear suddenly as it is possible for btc. I am a fan of btc but I am also scared. It should be protected but who will do it? Exchanges? The top btc holder?



None of the above-mentioned reasons will kill bitcoin, to be frank!

What will happen after satoshi dies?
The bitcoin is open source project even if Satoshi died the project will continue.

What will happen when bitcoin stands alone.
Bitcoin was originally designed to standalone that is why it a peer-to-peer digital currency.

What will happen if it is banned globally?
That is not going to happen because bitcoin accepted already in so many countries around the world such as Japan, Korea, Malta, e.t.c.

What if goverments start working on killing bitcoin?
No government in the world can kill bitcoin because it is a peer-to-peer digital currency. In fact, nobody can shut down bitcoin.

Dont you think goverments can work on it to kill it?
Bitcoin is a peer-to-peer digital currency that is decentralized thus no government has control over the bitcoin or the authority to kill it.


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October 29, 2019, 10:06:33 PM
 #73

Then there's no point of using Bitcoin. Where you gonna use it? There's no liquidity because it's ban globally. Also its price plummeted back down from the start of even worthless unless you create your country and use Bitcoin as your currency. So far we see good development of other countries toward cryptocurrencies. But still not enough. What will happen if satoshi dies? Still, Bitcoin can still survive. Bitcoin can stand alone because it's decentralized blockchain technology.
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October 29, 2019, 11:03:16 PM
 #74

How can you erase bitcoin the same way it was made? That makes no sense. What is all this fascination people have with Satoshi? Why would him/her have an impact on bitcoin if they died? You never know, they could be dead already and no one would even know.

What do you mean by bitcoin standing alone? Why not edit your post and put the answer there so we can all see? Bitcoin will never be banned globally and it won't change a thing if it is. People will still use it.
I think that governments have better things to do than to try "kill" bitcoin.

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October 30, 2019, 07:57:43 AM
 #75

added some answers to the post according to your answers Smiley
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October 30, 2019, 10:18:16 AM
 #76

There is no way to ignore these points what you have mentioned here, I have some observations regarding those issues, I think Bitcoin is not run with a single person so if Satoshi dies then someone will handle it after his departures, No one in any sector will work for the lifetime, Definitely there is an alternative option here, So I don't think Bitcoin is not standing alone, it will not be an alone in the future, I don't think so that government haven't tried to stop Bitcoin a lot of time but they couldn't manage it, so the government issue is not the main thing regarding Bitcoin sustainability. But I have a strong belief that the Government will work with this platform in the future.

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October 30, 2019, 01:01:02 PM
 #77

Bitcoin does not run because Satoshi is alive. Satoshi Nakamoto is the creator of Bitcoin and he might oversee its evolution from the shadow. Remember that we don't know if Satoshi is one man or a group of people. Secondly, the wise men usually find apprentices whom they teach all their knowledge so he can pass it on to the next generations. I'm sure that a lot of countries in the world will adopt Bitcoin because there if it gets banned will create an outrageous effect on anarchists and bitcoin maximalists that will probably make protests and maybe even move to countries that haven't banned it and empower the economy there.

You've got to understand that there are people working FOR the benefit of Bitcoin in the background as well. We have "allies", not just enemies.

How do you know it? We are not aware if he existed as a real person ever, and you say he is alive. He can be an organization, a company, or even the person that the whole world knows about, but does not guess that he is exactly this Satoshi, who gave us Bitcoin. BTC is always under pressure: even China did not call it in the list of the most promising cryptocurrencies. However, we simply do support it, and it lives.

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October 30, 2019, 04:42:59 PM
 #78

I once thought like you, if bitcoin can be made, then bitcoin can be destroyed. it's only by reversing the calculation. but this is the difference. Bitcoin runs on blockchain. a chain that is connected between the past and the future. like this simply. for 1 to 10, you have to pass 2-3-4-5-6-7-8-9. when you want to destroy number 1 through number 2 you have to solve calculations 1 to 2, but when you do that. the miners have continued their calculations. so when you have not completed the calculation in the number 2. you have moved in the number 3, which has a more difficult calculation. and that goes on and on. this is a simplification in my opinion. and you don't need to be afraid. because the bitcoin algorithm is currently very difficult. countries aren't that easy to kill or block bitcoin. unless they turn off their internet.

Amazing! Simple explanation but this makes me confident that Bitcoin cannot really destroy, I am also in doubt and in fear that Bitcoin can also destroy anytime by the founder, of an expert hacker, so based on what you said it will be really hard for them to do it, so now my fear and doubt has gone, thanks.
I dont think that bitcoin may extinct since there are lots of people are now buying and using bitcoin in different ways, there are gambling sites that they are using bitcoins as bet and there are also trading site in which they are trading their own bitcoin to earn money , and as of now as the price is in low price many are buying bitcoin maybe we cannot see the changes and it is not going up but someday it will rise up again just like what happened last 2017, bitcoin actually reaches twenty thousand dollars in price. Bitcoin also has the highest price and volume as you can see in the coinmarketcap, so I dont think that bitcoin will extinct or die.

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DaftAjax
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October 30, 2019, 06:18:02 PM
 #79

Disclaimer: I will answer some of your questions in the most bizarre/sarcastic way possible (for me at least) since most (all) of it has already been answered, and there's nothing I could possibly add, I suppose. No harm for some humor if I say so myself.

What will happen after satoshi dies?


The government will rejoice to know that satoshi, the creator of Bitcoin, died. They will think that Bitcoin will die along with satoshi and will never touch or lay a finger to Bitcoin even again (representation of how politicians see the internet).

When that happens, we will rejoice (users of Bitcoin), because the government will avert their eyes to one of their issues, and we will see the fruition of Bitcoin will utilize its optimal potential.

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What will happen when bitcoin stands alone?

Once upon a time, our lord and savior Satoshi Nakamoto created Bitcoin (the virgin Ma--oh wait that's a different story), the lord was pleased by his creation and will do anything in his power to nurture her--after all, she's the only one of her kind.

Or so we thought, an excerpt from a certain book: "Go ye and multiply"--and the rest is history.

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What will happen if it is banned globally?

Well, that sucks! Better find myself a job then. (AS IF!)

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What if goverments start working on killing bitcoin?
Quote
Dont you think goverments can work on it to kill it?

They already did, I wonder how much money they've thrown away just to see it fail--and all those propaganda they did to no avail.

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That's unlikely, we haven't had a virus that has the same manner. And besides If I'm the hacker (who creates viruses, whatever), I'd be the densest hacker in the world if I shut down the mining operations.

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Btc is not like gold. You cant make the gold disappear suddenly as it is possible for btc. I am a fan of btc but I am also scared. It should be protected but who will do it? Exchanges? The top btc holder?

Blockchain my friend--worked since 2009.

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October 31, 2019, 01:45:55 PM
 #80

Bitcoin going extinct is about the same chance that the internet will not work anymore. It just won't happen. It is too late. It is already here and it is here to stay.
Bitcoin has proved its value and can you honestly imagine not having bitcoin? A life without bitcoin is like how a life without the internet would be. You didn't know you needed it until you had it.
I can't see myself going back. I rely on bitcoin far too much and I am a firm believer.

added some answers to the post according to your answers Smiley

I would give you merit for that but I have none. Silly merit system. I am not sure why no one is giving you merits. Everyone can reply for their post count but not give merits.


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