What if Bitcoin Fails ?

[tygeade]

we all know very well that the Internet is never going to fail, the Internet is always there and it is part of our advancement. In our world today all of us are relying on the Internet for several things. Assuming that the Internet should go down around the world for a day, trust me there are so many things that would be disrupted.

There are so many things that we do on a daily which requires the Internet and the last thing that you would ever want to see is the Internet going down for any reason.

And we all know for sure that that will never happen. And as for Bitcoin, we all know that it is never going to end. Even if the government will ban it, people are still going to continue making use of bitcoin because it is decentralized and there are platforms that support that.

I can't even imagine a scenario where internet could fail and I would be doing alright. I am so dependent on internet that the day internet is down, like when there is a problem with the ISP or something, I become a very idiot and angry horribly bored person. I literally need internet to survive at this rate, because if that was gone I wouldn't be able to live my life the way I know how, and everything would be terrible.

Bitcoin is not there yet, it is nowhere near that level yet, it is getting there, and in a decade I am sure it will be there, this is more like 90's of the internet world where it was great but if it was gone that wouldn't mean the world would stop, right now it would stop and the whole world would go crazy.

[1714582614]

1714582614

[1714582614]

1714582614

[1714582614]

1714582614

[rby]

What a thought provoking question; What if Bitcoin fails?

Well, in as much as we are enjoying what we are seeing as Bitcoin today, we should also remember that everything that has a beginning will surely have an end. It is possible that bitcoin can fail. But if Bitcoin fails the technology that we enjoy today will not fail, which means something greater than bitcoin we may witness.
Technology evolution is what we experience these days. It is so difficult for a problem solving technology to go into extinction easily, even if it has some defects, it will rather go into refinement than being eliminated totally.

Whether bitcoin fails or not, it is clear that the present bitcoin will know is in no way closer to solving humanity problems. So we should expect to see a refined bitcoin or totally a new cryptocurrency that will replace what we see today as bitcoin. But for the main time, it's bitcoin we know and it will not fail any soon.

[famososMuertos]

...//...,,,,
We can't let Bitcoin fail.
,,,,

I think a lot of blah, blah, excuse me!

I think the reality of everything is in that final sentence, it depends on us. Bitcoin is there working, demonstrating every day in each of its transactions that it is possible, I think I would change the phrase to; "You cannot fail in the opportunity presented to us".

There is a simile with the earth, trite; "let's save the earth, " really!! the earth has survived climatic changes and more than 5 total extinctions, in each of them some species have disappeared , but the earth has always continued its process to harbor life.

Perhaps as a human species we are so stupid that we end up destroying our species as we know it and in that resurgence of magical life on earth 2 beings from the future start the trust again. 
So, if bitcoin fails, it's just your fault and no one else's.

[darewaller]

I don’t think that there is any possibility of Bitcoin failing. Bitcoin doesn’t have any central control unit. If that it is a kind of centralized platform that is being controlled by a particular organization which we know who they are, then we can fear that the government can one day tamper with the control and put everything to an end.

If there are a particular set of people that are controlling Bitcoin and their identities are known, the government can even decide to arrest them at anytime ,  but luckily the platform is not like that. Rather it is being controlled by the community, there is no authority or whatsoever like that, everyone is equal and we all control it.

[mildmanneredsuffering]

Bitcoin already failed. IT was supposd to be a better system than wall street fed reserve organized crime. Well bitcoin has suffered more great depression grade crashes than wall street criminals history in only 10 years.

FAIL

[DolinaLarisa]

Maybe bitcoin Never Fails

[Odusko]

Bitcoin already failed. IT was supposd to be a better system than wall street fed reserve organized crime. Well bitcoin has suffered more great depression grade crashes than wall street criminals history in only 10 years.

FAIL

I may not buy this your view bitcoin have not failed before and the technology behind it have been around for just 10 years and has constantly improved by way of price recovery at every time. This is why the government are trying all means possible to stop it growth and adoption but Bitcoin users are reliance in spirit.

[BITCOIN4X]

One can still expect bitcoin to technically fail in the future if they find a severe vulnerability. That could be possible because I believe bitcoin also still needs improvement, especially regarding its scalability. Bitcoin can be replaced in the future if there is another instrument that is more perfect than that because currency failures have occurred before. Bitcoin is a human creation which allows it to have some drawbacks, so make sure you consider all the consequences if you really like bitcoin.

I honestly never expected bitcoin to fail, but I can't hide the fact that we can never see anything about bitcoin in the future.

[Lizzylove1]

Sorry my guy, bitcoin has succeeded already. Something the government and the big financial institutions couldn't bring down but had to see how they can benefit from it. It's too late to stop the revolution called bitcoin. The people have won.

[mildmanneredsuffering]

Sorry my guy, bitcoin has succeeded already. Something the government and the big financial institutions couldn't bring down but had to see how they can benefit from it. It's too late to stop the revolution called bitcoin. The people have won.

who the fuck do you think funded the massive public relations campaign that kicked off bitcoin? nvidia? well ok they pitched in too. Do you remember the super early press campaign where nvidia openly was backing bitcoin to help the poor losers who lost money buying 3d hardware recoup? I do

[jokers10]

...
10 ) Bitcoin is too important to fail
...

What would be if the Universe never existed? Well there would be no such strange discourse as there would be none to lead it. But we know that the Universe do exist (anyhow, anyway).

Why should bitcoin fail? It is decentrlized enough and has big enough support to survive even if the situation will change for the worse. It will not fail and we know that right now. All other concepts are philosophical: what would be if.

[mildmanneredsuffering]

it wont technically fail until price drops below electric cost to keep asics going. problem is the asics burn 3k watts just for one so it doesnt take much for it to go pure dead.


BTC already failed this year, as in total failure economically. We had massive inflation and still btc couldnt keep up with a collapsing dollar.

Bitcoin is a failure its a matter of time before the asics are shut down. I think this was the calculations china saw in shutting down btc miners. BTC is a dead end. Some digital currency is awesome but btc failed

[jokers10]

If Bitcoin fails, another cryptocurrency will arise and will likely do so within a year. The technology behind Bitcoin will continue developing in that case and other cryptocurrencies will bring some exciting new technology to the table. If that new cryptocurrency fails, then another one will certainly come up. So the point is this: this is not the end for cryptocurrencies. Some cryptocurrency will become the dominant one and it will become the global currency.

Technology is not the only part of success of bitcoin. Trust is much more important: people believe that bitcoin has value and technology just makes that belief working. If bitcoin would ever fail it would cause a problem with trust to entire crypto world, so no, it can't be so that any other cryptocurrency can replace bitcoin if it fails. Cryptocurrencies can grow and become substantive only if bitcoin would be still succeeding, at least for now and for years.

[Rockstarguy]

If Bitcoin fails, another cryptocurrency will arise and will likely do so within a year. The technology behind Bitcoin will continue developing in that case and other cryptocurrencies will bring some exciting new technology to the table. If that new cryptocurrency fails, then another one will certainly come up. So the point is this: this is not the end for cryptocurrencies. Some cryptocurrency will become the dominant one and it will become the global currency.

Every cryptocurrency is looking up to bitcoin,  so if bitcoin fails every other cryptocurrency will fail, All cryptocurrency are bitcoin clone , trying to be like bitcoin.  Bitcoin is the most reliable cryptocurrency , so I think if bitcoin fails their wont be any cryptocurrency to believe in and crytocurrency will stop existing. The reason why many still stick to bitcoin is because they believe in bitcoin and bitcoin has come to stay, if it fails no new crytocurrency can take up bitcoin place and their wont be need to believe in a new cryptocurrency.

[ChiBitCTy]

1/ If Bitcoin fails, Privacy Fails

The ability for individuals to send & receive value peer-to-peer without the interference of government & the banking system will be lost. Bitcoin allows for a future where anyone can have private access to their money.

2)  If Bitcoin fails, Censorship Wins

We are in an unprecedented age of censorship. Bitcoin is the most secure network that has ever been built. Resilient, antifragile, & permission-less. Open to anyone in the world. There is nothing else like it. Bitcoin can’t be censored.

3) If Bitcoin Fails, Big Government Wins

The government can lose hundreds of billions annually but want us to report every time we spend over $600. There is no government accountably or transparency in our system. Without Bitcoin we lose the only counterweight to that system.

4)  If Bitcoin fails, Central Banks Win

Unelected bureaucrats decide the value of your labor & time. Money is the way we store the value of our time on this earth.  No one should have the power to inflate the value of your time away from you. Bitcoin’s set 21MM supply fixes this.

5) If Bitcoin fails, Free Speech fails

Bitcoin is code. Letters & numbers. A private key is all you need to be able to store, transport & transact value with. Never in human history has speech & language been this powerful. The freedom to speak is the most basic of human rights.

6) If Bitcoin fails, Objective Truth is Lost

"What is truth?” has never been more convoluted. You can find experts on both sides with “internet facts” supporting them. Bitcoin is the only thing we have that is truly objective & transparent. The longest chain speaks for itself.

7) If Bitcoin fails, The Energy Transition Fails

If the hope is to transition to a new energy future, we need Bitcoin, the energy buyer of first & last resort. Bitcoin monetizes energy waste & incentivizes new & efficient energy resources. Energy & Bitcoin are nearly synonymous.

8 )  If Bitcoin fails, Capitalism Fails

There is no CEO of Bitcoin. Bitcoin gained value organically, from the bottom up. The Network represents the spirit of capitalism harnessed in code. Self-interest combined with innovation & ingenuity. If you value capitalism, value Bitcoin.

9 )  If Bitcoin fails, We Will Own Nothing

We don’t own anything of value. Property & money are regulated & stored with custodians. You don’t own it; you just have a claim. With Bitcoin, the value of your life’s work can be stored in a few words. Free to take with you anywhere.

10 ) Bitcoin is too important to fail

If you value freedom, transparency, and truth, then you should want Bitcoin to succeed
If you value oppression, censorship, and corruption, then you should want Bitcoin to fail

We can't let Bitcoin fail.


https://twitter.com/max_gagliardi/status/1485308690035056647?t=-vF-9ZE_FRxdIJD2u2rdng&s=19

I disagree with much of the above.  First off bitcoin isn't all that private.  If Monero fails (maybe even Zcash) then okay we can say privacy fails, but bitcoin is viewable on an open ledger so I'm not sure how if it fails privacy fails. Bitcoin failing also doesn't mean any of that other stuff.  Another coin could easily come in and "take over" bitcoin and take it's place with better technology yet achieve all of these things you have listed out, then those things don't "fail".

[Zilon]

This will be a big win for the government and privacy will be forever lost. Bitcoin is a big threat to the government and if  this happens it will bring a big relief to their few years of trying to gain back their complete centralization and censorship. But I'm glad it takes a collective effort to make the whole system work or crash so therefore Bitcoin is here to stay

[cr1776]

In short, if bitcoin fails, liberty fails because you will have nowhere in the world to protect yourself from the authoritarians who continually want to control everyone and everything around the world.  It has been the same battle for millennia:  some people want to be free, some people want to control. 

[Brownish1]

Well, if in case Bitcoin fails it going to affect alot of people, because a lot of people depends on Bitcoin because Bitcoin has being a encouraging endeavor for the world. And this may also be a big win to the government, and privacy will be lost forever. And I believe that if in case Bitcoin fails there is going to be another cryptocurrency will also come up too.

[jokers10]

Well, if in case Bitcoin fails it going to affect alot of people, because a lot of people depends on Bitcoin because Bitcoin has being a encouraging endeavor for the world. And this may also be a big win to the government, and privacy will be lost forever. And I believe that if in case Bitcoin fails there is going to be another cryptocurrency will also come up too.

Imagine that bitcoin failed this morning and it doesn't work anymore, all exchanges are failed next it as they are based mainly on bitcoin, all altcoins are failed next all that as their rates are connected to bitcoin. No one trusts crypto anymore. Why should any other cryptocurrency come up in such a case? Bitcoin failure will kill all the crypto if, perish the thought, it would happen at an early date.

[Rockstarguy]

Well, if in case Bitcoin fails it going to affect alot of people, because a lot of people depends on Bitcoin because Bitcoin has being a encouraging endeavor for the world. And this may also be a big win to the government, and privacy will be lost forever. And I believe that if in case Bitcoin fails there is going to be another cryptocurrency will also come up too.

Imagine that bitcoin failed this morning and it doesn't work anymore, all exchanges are failed next it as they are based mainly on bitcoin, all altcoins are failed next all that as their rates are connected to bitcoin. No one trusts crypto anymore. Why should any other cryptocurrency come up in such a case? Bitcoin failure will kill all the crypto if, perish the thought, it would happen at an early date.

If Bitcoin fails this  morning  other cryptocurrencies will fail alongside with bitcoin,  nobody would want to get cryptocurrencies because  of the lack of trust and that will be the end of cryptocurrency.  People get other cryptocurrency just because of the  trust they have for bitcoin.  If Bitcoin fails,  it will also be a failure for other cryptocurrency .