What set of conditions can crash blockchain or bitcoin to zero USD?

[El duderino_]

Tons of sh*t

-Time travelling and the assassination of satoshi
-Armageddon
-Explosion of every PC
-Human extinction
-The USD not existing anymore


Don't hold on to your BTC as much very likely things are waiting

[Getmon]

If electricity will perish off the earth, if the internet will be gone, if there will be no more miners, if there are no more interested of the coin itself; these are the conditions that would put Bitcoin or blockchain into a thing of the past. Which are all, for me, not going to happen.

[piebeyb]

I summarize from all my friends in this thread, it looks like it will not stop as long as there is internet and technology is always developing to handle any case in the future, I think only the apocalypse is destroying bitcoin and blockchain because governments with superpowers can't stop Bitcoin let alone technology blockchain, they are increasingly developing and developing in almost all countries

don't ever try to stop it because it's not easy, friend  

[panganib999]

Blow up the world mate. Like seriously. The chances are close to impossible, but it doesn't mean that it is. Just that the reason for it happening cannot be imagined, with how the world is developed as of today.

If the world war were to happen I think Bitcoin and this whole market would go up crazy,  do you remember the war between the United States and Iran in early 2020? it has helped this market go up like it is now, and in addition, if the price of bitcoin goes up, then everyone's demand will increase and they will keep it like gold. The only way for this market to collapse is that bitcoin has become a scam, but it certainly will never happen

Probably. But the major cause would be those affected by the war themselves. BTC spiked when Iran and US tensions were high most probably because of how the economy of Iran is so underdeveloped that a war that might happen might make their current currency completely dead. Buying BTC on the other hand, would make sure they have the avenue to retreat somewhere safe.

[alexsandria]

The most important thing to bitcoin is the internet. At the very worst, If the internet got shut out allover the globe.
1. The nodes wouldn't be able to run/communicate
2. Mining would be impossible
3. Transactions would not be possible
4. The value/demand would consequently drop to Zero as people wouldn't be interested in buying something that doesn't work
5. The End

No more, no less. These concludes all as bitcoin is highly and totally dependent in the internent itself. So if ever there will be total shutdown of the internet the it is more likely the end for bitcoin era. No more send and received of datas around, but it is close to being impossible right now as we continue to progress, more developments will occur rather than shutting down. Such situation makes me wonder, what would the world looks like if internet doesn't exist anymore though.

[btccashacc]

The scenario that can make bitcoin crash is when the internet and electricity on this earth are destroyed which we will not see that thing happening in the near future ( I hope so). Because basically you need electricity when transacting with bitcoin, miners also need electricity so that your transactions on the blockchain can be verified by them, the internet needs electricity too, the point is electricity.

[justdimin]

I have always wondered if a technical error could ever do it. I know it looks like blockchain is solid and there has been no wrong doings aside from occasional double spending as far as we know it and even double spending hurts the shop and not bitcoin in general.

However, if one day someone finds a way to just print out bitcoin out of thin air somehow, which I know sounds impossible to you right now but this is technology we are talking about and maybe someone is that good of a hacker, I don't know if it will ever be possible. Or maybe someone being able to create "computer" so strong it could hack into anyone's wallets. These things look impossible and for all counts and purposes IS impossible but I am %100 sure if it that ever happened, price of bitcoin would plummet faster than a meteroid.

[hisslyness]

I have always wondered if a technical error could ever do it. I know it looks like blockchain is solid and there has been no wrong doings aside from occasional double spending as far as we know it and even double spending hurts the shop and not bitcoin in general.

However, if one day someone finds a way to just print out bitcoin out of thin air somehow, which I know sounds impossible to you right now but this is technology we are talking about and maybe someone is that good of a hacker, I don't know if it will ever be possible. Or maybe someone being able to create "computer" so strong it could hack into anyone's wallets. These things look impossible and for all counts and purposes IS impossible but I am %100 sure if it that ever happened, price of bitcoin would plummet faster than a meteroid.

Yes that has been done before!..

https://en.bitcoin.it/wiki/Value_overflow_incident

And extra 184,467,440,737.09551616 BTC that is 184 billion BTC

[shoreno]

Tons of sh*t

-Time travelling and the assassination of satoshi
-Armageddon
-Explosion of every PC
-Human extinction
-The USD not existing anymore


Don't hold on to your BTC as much very likely things are waiting

lol seriuosly time travelling  ?  i can believe on others but time travelling is i think only a myth  . .no matter how advance the technology is , i stil didnt think that time travelling is possible because that can mess up peoples life and everything  . usd extinction is also i find interisting  , why would extinct ? bcause of cryptos domination or only for any other reason ,but there are many currency not just usd  or they can always print another one similar to usd  .

[Shinpako09]

The scenario that can make bitcoin crash is when the internet and electricity on this earth are destroyed which we will not see that thing happening in the near future ( I hope so). Because basically you need electricity when transacting with bitcoin, miners also need electricity so that your transactions on the blockchain can be verified by them, the internet needs electricity too, the point is electricity.

Cutting the internet forever is enough to crash blockhain. Without internet, most of technology will be useless but of course cutting the internet has 0% chance of happening. Rich countries will always fine a way to keep it alive. I don't know what came to op's mind and think of such impossible thing to happen within this era. We are in 2020, and I guess it's safe to say that blockchain technology will remain it's existence even in the near future.

[SummerBliss]

The reason which will lead to the crash of blockchain will only lead to he crash of Bitcoin. The fear of supercomputers is not unheard. Anything which can make blockchain unreliable will make Bitcoin go to 0 as the sole purpose for what the btc was created will no longer be valid.
The security is provides if gets threatened, the ultimate use case will cease to exist.

[rdluffy]

I think if we found a breach on the blockchain, and some people "hack", BTC will probably die, but this is only a very, very remote chance to happen
And obviously some big events like the end of the world, end of electricity and internet, some global war...

[milewilda]

What set of conditions (technical or socio-economic) can crash blockchain or bitcoin to zero USD? Is this notion of bitcoin crashing inconceivable at this point 10 years into its existence (so long as there is electricity and the internet)? My corollary question is: Can bitcoin be obsoleted by another cryptocurrency? What would that path of obsoletion look like for bitcoin? For example, I hear about other crypto currencies like Etherium or Lightcoin or Bitcash or Altcoin or Bitgold. What would be signs to look for that would make it prudent to cash out of Bitcoin to buy Etherium, for example.

Nothing can stop or crash bitcoin to zero unless if there is a global catastrophe which would blank out the entire net or source of electricity people people wouldnt able to access online.

Im not saying it isnt possible to fail but to think the possibility is nearly zero.As long theres a big community that do supports it then its unlikely to fail specially Bitcoin is the first or king of Crypto
and crashing it to the floor wont really be that easy.We are heading towards future where online payments and transactions will surely be adopted and blockchain tech would be there.

[bitbunnny]

We are talking about conditions that happen in some extreme situations like world war III or some huge natural disaster that would strike the world or some global hackers attack on critical infrastructure.
So, basicly any situation that would interupt electricity and internet connection. All these situations are possible but still hope not very likely to happen.

[exstasie]

Nuclear war or other similar-scale disaster that results in destruction of the Internet is the only scenario when Bitcoin can literally crash to zero.

How about a critical vulnerability that separates coins from their rightful owners en masse? Let's say the encryption underpinning Bitcoin's signatures is broken. The security protecting the entire monetary supply would have been compromised so forking to a new signature algorithm doesn't completely address the issue.

Compare this to the 2010 value overflow bug. The community was able to pinpoint the block where that bug was exploited and effectively roll back to that point. That can't really be done if the encryption underlying Bitcoin itself was simply broken at some point in time. Rollback to where? How do we even know when the vulnerability emerged? It probably wasn't immediately exploited as a mass 0-day attack.

Hard to see BTC maintaining much value in that situation.

[Viscore]

Probably when there is a world war and money is not anymore valuable, people will be back in the old age of just prioritizing its food just to survive.
Bitcoin is money, we don't need that as a world that is on war cannot appreciate technology anymore, no more phones, computers needed at that time, and since bitcoin and crypto basically is only accessible through the internet, then no access means we can't use it so it would be useless.

this is just a worst scenario but let's not hope it would happen.

[Clairvoyance]

What set of conditions (technical or socio-economic) can crash blockchain or bitcoin to zero USD?

There are many conditions to crash any current market to zero, but in terms of cryptocurrency there are few:

1. War
One doesn't simply recover from a massive destruction, whether by financial, stock or cryptocurrency all will suffer. Rebuilding what has been lost can be a painstaking task. Cooperation and trust are needed very much for any restructure but after a massive war it can be a very serious matter.

2. Network Failure
If the main internet grid has been destroyed or any existing channels of internet has been replace by another technology it can disrupt the current market by shutting down P2P. No connection, No P2P.

3. Global Ban
The current cryptocurrency market possess no potential threat on any fiat currencies but certain countries do ban any transaction in junction with crypto. If there would be a global ban regarding crypto markets and penalize those who engage such endeavors then most likely it will render the market into a crash.

[atjiat]

What set of conditions (technical or socio-economic) can crash blockchain or bitcoin to zero USD?

There are many conditions to crash any current market to zero, but in terms of cryptocurrency there are few:

1. War
One doesn't simply recover from a massive destruction, whether by financial, stock or cryptocurrency all will suffer. Rebuilding what has been lost can be a painstaking task. Cooperation and trust are needed very much for any restructure but after a massive war it can be a very serious matter.

2. Network Failure
If the main internet grid has been destroyed or any existing channels of internet has been replace by another technology it can disrupt the current market by shutting down P2P. No connection, No P2P.

3. Global Ban
The current cryptocurrency market possess no potential threat on any fiat currencies but certain countries do ban any transaction in junction with crypto. If there would be a global ban regarding crypto markets and penalize those who engage such endeavors then most likely it will render the market into a crash.

Undoubtedly, all those options that you proposed can affect the cryptocurrency market and bring down the price of cryptocurrency below the usual level.  But we must also take into account the fact that, for example, military operations can provoke the opposite effect, since fiat cryptocurrencies will no longer be valued and cryptocurrencies may take their place.  It is under this option that many cryptocurrency users expect developments in relation to users from Iran, given the complex conflict between Iran and the United States.  I think that the only and most important problem for cryptocurrency in the future may be weak stability in front of a quantum computer.  As far as I know, even this problem is being solved by many experts today.

[Wexlike]

1. War
One doesn't simply recover from a massive destruction, whether by financial, stock or cryptocurrency all will suffer. Rebuilding what has been lost can be a painstaking task. Cooperation and trust are needed very much for any restructure but after a massive war it can be a very serious matter.

2. Network Failure
If the main internet grid has been destroyed or any existing channels of internet has been replace by another technology it can disrupt the current market by shutting down P2P. No connection, No P2P.

3. Global Ban
The current cryptocurrency market possess no potential threat on any fiat currencies but certain countries do ban any transaction in junction with crypto. If there would be a global ban regarding crypto markets and penalize those who engage such endeavors then most likely it will render the market into a crash.

I really like your points however I think that things doesn't have to be to complicated:

Loss of interest
People just stop using crypto currencies and have no desire to adopt

Working monetary system
Everyone is happy with their paper money and there is no need for decentralized currencies anymore

[Oceat]

Probably when there is a world war and money is not anymore valuable, people will be back in the old age of just prioritizing its food just to survive.
Bitcoin is money, we don't need that as a world that is on war cannot appreciate technology anymore, no more phones, computers needed at that time, and since bitcoin and crypto basically is only accessible through the internet, then no access means we can't use it so it would be useless.

this is just a worst scenario but let's not hope it would happen.

I think it won't at the moment. Lol

Just imagine how Trump almost start a World War 3? But that's not going to happen since most leader of the countries wouldn't want to join on the craziness of Trump because they know how bad it is to have a world war just like what they have learned from the past. The only thing that would stop Bitcoin is having no access to the internet and the price of Bitcoin would collapse too fast just like a domino down to zero value.