Can bitcoin die?

[PytagoraZ]

If all countries make regulations that bitcoin mining is prohibited, is it true that bitcoin will die?

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[SeriouslyGiveaway]

If all countries make regulations that bitcoin mining is prohibited, is it true that bitcoin will die?

If all countries ban it, all miners turn off their ASICs, all full nodes shut down, Bitcoin network will die but Bitcoin won't die. Your bitcoin will stay in your wallets forever.

Possibility for all countries to ban Bitcoin is impossible. They won't have a consensus to ban Bitcoin and apply it at the same time. China banned Bitcoin, miners move to the USA., Kazakhstan, etc. and the story of miner migration will continue.

If hashrate drops, Bitcoin network will be lower for a while but after 2016 blocks or 14 days, difficulty will be re-targeted by difficulty algorithm. Not big deal as not all countries ban Bitcoin mining at the same time, there is enough time for difficulty re-target.

Citizens will not let politicians to do everything to harm citizen benefits. It's the world of freedom.

[Wrathofcoins]

If all countries make regulations that bitcoin mining is prohibited, is it true that bitcoin will die?

What kind of question its this?

Clearly yes, like all we know, nothing its infinite. ITs called entrophy. all its gonna disapear someday, the real question is..... When?

[Poker Player]

Everything that is born or created at some point dies or ends, although I think you are specifically referring to whether Bitcoin could "die" in a short period of time, say 10 years from now, not 1,000.

Impossible it is not, but extremely unlikely. It's a question that made more sense in the early years, but now, with the level of adoption, even institutional, with El Salvador having Bitcoin as legal tender, it's extremely improbable.

[LogitechMouse]

If all countries make regulations that bitcoin mining is prohibited, is it true that bitcoin will die?

As long as there is support towards Bitcoin, I don't think that it will die.

Just look at the fiat currency that we are using right now. Many people are still using it, and will be using it even though it has been existing for centuries already. I guess it will be the same as Bitcoin. Many people are still using it, it will not die. Nobody uses? It will die. We might see a new, and better version of Bitcoin in the future we don't know. Adoption is slowly increasing, and it seems like there's no reason for it to decrease so to answer your question, it might be, but with it's current trend, it's almost impossible.

Regulations that Bitcoin mining is prohibited? Well, if all agrees, but what are the chances of that to happen? Close to 0% TBH. In short,

[Learn Bitcoin]

If all countries make regulations that bitcoin mining is prohibited, is it true that bitcoin will die?

The answer to this question is Yes. Suppose all counties ban Bitcoin Mining and No miner mine Bitcoin anymore. No coins will add to the chain. The network will be congested, and transactions cannot be done. But, this is unlikely to happen, while some countries already seeing Bitcoin as positive innovation.

El Salvador has already legalized Bitcoin. If only El Salvador ran their miners and full nodes, Bitcoin would still be alive. You may see congested networks and high transaction fees. But the network will remain active.

[Frankolala]

If all countries make regulations that bitcoin mining is prohibited, is it true that bitcoin will die?

Presently,with the rate of adoption of bitcoin,I don't think that it will die because bitcoin is a digital currency which serves as currency and as a store of value. Bitcoin is inflation resistance,it is most valuable asset in the world due to its volatile nature. All these put together makes it impossible for bitcoin to die,due to its potential value that investors has seen in it. The decentralization of bitcoin is even more unique compare to other form of currency and it is limited in supply.

The only way that bitcoin can die,is if its price goes down to zero,which is impossible to happen. This is when miners will pack up their mining equipment,but as long as this hasn't happen,nothing will make bitcoin die. Another way is if a different currency is invented that surpasses the value of bitcoin. As for government ban,it will be impossible for it to happen in all the countries in the world. Therefore,miners will move to a crypto friendly country if the country they are bans crypto.

[EarnOnVictor]

If all countries make regulations that bitcoin mining is prohibited, is it true that bitcoin will die?

You called it "all countries," therefore the effect on Bitcoin would be severe, and even the price would fall so much on the announcement and will keep a low value. But Bitcoin would continue to exist if it's only mining they ban as there are over 19 million Bitcoins mined already, so the hope continues (you still own your coin but can't just use it). Anything could still happen in the future. However, one thing I would like you to know is that Bitcoin is striving because people value it, but if all countries could declare their ban on more than mining but the coin itself, then I personally believe it would seize to exit, especially if they are totally clamping on the holders and the companies dealing with it.

I hope this does not happen, ever!

[un_rank]

You called it "all countries," therefore the effect on Bitcoin would be severe, and even the price would fall so much on the announcement and will keep a low value. But Bitcoin would continue to exist if it's only mining they ban as there are over 19 million Bitcoins mined already, so the game continues.

The game cannot continue in that hypothetical situation. Without miners there are no new blocks confirmed and no new bitcoin added. Yes we have over 19 million units already but without miners no transaction can be confirmed and your bitcoins have no practical use in your wallet. The hashrate would drop massively and any malicious player (government themselves even) can attack the network.

This situation is not likely to happen but if it does it can be the end or would temporarily halt the network.

- Jay -

[acroman08]

If all countries make regulations that bitcoin mining is prohibited, is it true that bitcoin will die?

mining is a very important part of the Bitcoin Network's function and if all countries prohibited Bitcoin mining and all people actually followed it and everyone stopped mining, it could lead the Bitcoin Network to a complete stop as no one is there to verify the transactions being made.

[hugeblack]

If all countries make regulations that bitcoin mining is prohibited, is it true that bitcoin will die?

No, the Bitcoin network will not die, but everything that happens is that mining will move from one country to another, for example North Korea, and even if all countries ban bitcoin mining, some may run mining farms in the jungles, or internationally unrecognized areas, or private islands, in the end the activity is profitable Whenever there are profits, you will find some willing to take risks.

The bad side is that the network will be more centralized as most of the hashrate will be in the hands of one mining pool, so then some people may stop using bitcoin, the value of bitcoin will drop sharply and we will need more than 6 confirmations to complete the transaction.

[EarnOnVictor]

You called it "all countries," therefore the effect on Bitcoin would be severe, and even the price would fall so much on the announcement and will keep a low value. But Bitcoin would continue to exist if it's only mining they ban as there are over 19 million Bitcoins mined already, so the game continues.

The game cannot continue in that hypothetical situation. Without miners there are no new blocks confirmed and no new bitcoin added. Yes we have over 19 million units already but without miners no transaction can be confirmed and your bitcoins have no practical use in your wallet. The hashrate would drop massively and any malicious player (government themselves even) can attack the network.

This situation is not likely to happen but if it does it can be the end or would temporarily halt the network.

- Jay -

Thanks for pointing this out your way, I understand everything as well, only that you got "the game continues" used wrongly. This has made me edit my post a bit to avoid misconceptions by using 'hope' instead of 'game.' I fully understand the situation this will cause to the Bitcoin network, yet the coin will still of course remains in our wallets, which is what I meant by that phrase.

And who knows, things can change in the future and our Bitcoins will always remain ours.

[m2017]

If all countries make regulations that bitcoin mining is prohibited, is it true that bitcoin will die?

"What Is Dead May Never Die" - bitcoin has no physical mortal shell.

In order for all countries to regulate bitcoin mining, for this they will first have to agree among themselves on how to do this. As practice shows, even a couple or two countries can't agree among themselves, not to mention all countries at once. Therefore, if some countries ban bitcoin mining, then there will always be countries loyal to this, who want to receive taxes from this. For small and weak countries, this is an opportunity to somehow get money into the budget, which they will not neglect. So, I don't expect one-time regulation of mining, not only in all countries, but even in most of them.

In fact, I would prefer a scenario where bitcoin mining is banned in all countries. This would allow large mining companies to be ousted from this market, and then ordinary users would take on the entire burden of ensuring mining performance. Bitcoin network would become much more decentralized when almost every person on earth would have btc mined on their home PC. I believe that the founder of bitcoin expected to see something like this, and not the dominance of a few industrial mining centers.

As a result, I can conclude that even despite the regulation, itcoin death will not happen, because ordinary bitcoin enthusiasts will put this function of ensuring the operability of the BTC-network on their shoulders. I will say this as long as at least one bitcoiner, btc will live.

[yudi09]

If all countries make regulations that bitcoin mining is prohibited, is it true that bitcoin will die?

Let's think positively bro about Bitcoin.
What haunts your mind that makes you think that way?
Bitcoins will exist as long as you don't sell them.
Read more about how Bitcoin existed from the beginning to survive today.
I don't want to explain too long because one day you will find the real answer. I just want to say stay away from FUD and anything else that makes us pessimistic about the future of Bitcoin.

[Dunamisx]

If all countries make regulations that bitcoin mining is prohibited, is it true that bitcoin will die?

Can you also looked at the possibility to how this can ever happened? What bitcoin could have done so bad to affect everyone on earth to receive such karma, bitcoin is not a global traitor or disaster that it will unanimously get such red card from the world, take a look at it acceptance, adoption, and impact over the years since 2009 till date, compare the good that have comes out of bitcoin from the bad.

You can see you that you will hardly find tangible wrongs associated with this digital decentralized currency, the second fact is about bitcoin being decentralized, secured and immutable, all these are what hodl the network to stand out because it will never go against it protocols which it operates with, know this that bitcoin has come and to stay.

[WhyFhy]

I'd say it's very unlikely.
One day pephaps.
It's propagated to the point it's almost unkillable. Entire economies/countries run on it now.

I'm inclined to believe Bitcoin/Blockchain will stick around a while. Quantum could change this paradigm.

[aysg76]

If all countries make regulations that bitcoin mining is prohibited, is it true that bitcoin will die?

I beleive the countries are on verge of making regulations to accept it although mining can be concern for them due to carbon footprints and the environmental part they always put forward as an excuse but still unlikely all will ban mining operations.The bitcoin in the circulation will still be in usage but the miners may opt out making network unsecure to some extent but still there would be people who will perform these operations due to profitability so bitcoin won't die at all which is certain.But if we are seeing long term approach then can't say exactly anything because nothing is certain in the future so will see at that time.

[PytagoraZ]

thanks everyone. Meaning it is true that bitcoin would die if there were no miners, even though that would be impossible

[Coyster]

Bitcoin cannot 'die' because the things that can make it go extinct are almost certain never to happen. Of course if there's no more mining, there'd be no Bitcoin, but it is quite impossible that all the countries in the world are going to ban Bitcoin mining. To add to that, miners will also always have the urge to mine because of the reward they get, even when they no longer receive block rewards, they'll get transaction fees.

Another reason that can make Bitcoin to 'die' is if there is no more demand for it, but Bitcoin has an actual utility and solves problems, thus i don't think its demand can drop to zero.

[superman184]

If all countries make regulations that bitcoin mining is prohibited, is it true that bitcoin will die?

No, because miners can carry out their mining in a hidden way without being noticed by anyone, including the government. And I think that for every ban there must be a more logical reason because if it was only banned without any detrimental cause, it would sound very ridiculous. So any ban, of course, must have a clear basis so that everyone can understand it, but in this case I'm sure that Bitcoin will never die if all the government prohibits Bitcoin mining.