Could bitcoin become extinct?

[Raceonsucced]

zero

There are a lot of chances that could make a thing go into extinction and to some extent Bitcoin also can take place and at some point also we have to make such understandable and settled statements because, to a great extent, bitcoin is a much more stable asset and haven't existed for over a decade, it becomes obviously clear that Bitcoin any likely never reach that level of down level to the point of becoming extinct.


Bitcoin is here to stay and at that, we should get used to it and stop discussing its possible outcome at any point in time.

I feel the same way, the extinction is very small but it could happen, and I don't really care about that, because whatever happens I will follow it as long as it exists.

[Synchronice]

What are the chances of bitcoin going extinct?

That's a very odd question because it's impossible to predict whether bitcoin remains dominant cryptocurrency, steps down or goes totally extinct. I would say that that's entirely possible one day, things come and go, things also improve. Since Bitcoin is agile, i.e. we can change the code, it gives us the flexibility to adapt new trends and meet new demands. If we remain progressive instead of being conservative, I think we will keep Bitcoin as a dominant currency but it's still not easy to predict the future of this currency because of the so ever-changing world. At the moment, it stays strong.

[gaserrayu]

For the time being, I believe there is less chance that bitcoin will go extinct because it is already widely known and has a strong, globally distributed network of nodes, as well as miners and users. I think this strengthens its position and makes it difficult for any new cryptocurrency to surpass its level of adoption.As a long-term asset, bitcoin is less likely to become extinct since, in my opinion, it has developed into a widely accepted store of value and the perception of scarcity

[Nheer]

Even while new technologies are developed periodically, it seems highly improbable that bitcoin would go extinct, especially given how quickly its adoption rate is increasing.

Is it possible for a new technology to be created in order to enhance bitcoin technology? Though I believe that since we live in a more evolved age and new innovations are made more frequently, there may be in the future, but bitcoin will not become extinct. When something loses value and is viewed as worthless by people, it becomes extinct, this will not happen to bitcoin. Instead, it will continue to grow in value and be beneficial to individuals. It has survived a lot of criticism and competition from the government and other new cryptocurrencies but i believe in bitcoin and i know it will stay relevant for a very long time.

It will be difficult for any new technology to entirely replace bitcoin and drive it extinct instead, they will coexist and complement one another.

[Zigabel]

What are the chances of bitcoin going extinct?

Expressing certainties with things as this is something that I don't see Ideal so I wouldn't be giving a yes or no answer or your question because there are factors that has to be put into consideration before giving an answer in any of the two directions, going by the fact that it's an evolving technology it definitely doesn't look like it's any close to extinction soonest so untill then why not enjoy the limitless opportunities it brings and border less about it's extinction or how long it's further going to exist.

Buy if it ever happens there be a world void of technology then at that point Bitcoin may cease to exist or maybe if there come a better innovation or technology that could technically replace Bitcoin then I'm afraid the extinction may just set in, buy then I don't see that coming soon.

[radjie]

What are the chances of bitcoin going extinct?

The reason is simple and makes sense

If no generation continues this technological sophistication, it is very likely that Bitcoin will become extinct and cannot be used by everyone. Apart from that, if someone says that Bitcoin will become extinct, of course when the person holding Bitcoin itself has ended his life, in other words he  had died and did not pass it on to anyone he trusted

[Silberman]

What are the chances of bitcoin going extinct?

I suppose you mean what are the chances that it may disappear as going extinct is something only a living organism can do.

But the chances of this are low, bitcoin due to its decentralized nature can survive any local disaster, whether it is man-made or caused by natural causes it does not matter, so in order for bitcoin to disappear not only you will need a disaster which has a world scale, but it also needs to affect all our technology based on electronics, and there are not many disasters which can do that, and if they were to happen I do not think we will have the time to worry about the disappearance of bitcoin.

[Rruchi man]

What are the chances of bitcoin going extinct?

You should already know that the future is hard to predict, and while there is a chance that Bitcoin will become established accepted and adopted there's also the chance that it becomes replaced by another technology that we are yet to know or just become extinct, anything can happen. But you probably should not be worried about this because you may not be alive to witness the extinction of Bitcoin even if it happens because it will not happen in the next 10 years unless the government finds a way to actually shut it down.

[bobbybkk]

What are the chances of bitcoin going extinct?

I think "extinct" is the wrong word, like the last animal of a certain type is finally killed. I would suggest "going out of fashion".

Here it depends on the time scale you are looking at. I can imagine maybe in 50 years if you mention Bitcoin, some old geizer will say : "Oh Yeah, I remember Bitcoin, in my youth I made a lot of money with Bitcoin. But then XYZ came up, and now there are only a couple guys who keep Bitcoin going as a kind of hobby".

Or maybe in 50 years Bitcoin is bigger than ever,,,,, Who knows....

[thecodebear]

Bitcoin going extinct would mean that people stop valuing useful and scarce things. Doesn't seem very likely.


Otherwise it would mean that something so much better than Bitcoin gets invented that it completely outcompetes Bitcoin despite Bitcoin having a HUGE advantage from coming first and having a global scale network effect already. This is of course more likely, but still very very low chance.



Since Bitcoin is valued (among other things) for its hard money properties, which leads to it increasing in value over time, the most viable way something like this could happen is if it became really hard to acquire bitcoin, and therefore it stopped being such a great place to save money with, and therefore fewer and fewer new people got into bitcoin, all these things making the price stop going up for the most part. But, I think we can say with quite strong certainty that Bitcoin is not going to start getting harder to own but rather will continue to get easier to own and use. Case in point, now the USA has Bitcoin ETFs so the largest economy in the world is no longer limited to getting access (at least as an investment) to Bitcoin through crypto exchanges. The ways to own or get access to Bitcoin, and the ways to use it, will continue to increase as Bitcoin continues to grow into a major monetary asset. And so new people will continue to flock to it, and it's price will continue going up, and so growth will continue, and thus, it won't go extinct.

[bobbybkk]

Bitcoin going extinct would mean that people stop valuing useful and scarce things. Doesn't seem very likely.


Otherwise it would mean that something so much better than Bitcoin gets invented that it completely outcompetes Bitcoin despite Bitcoin having a HUGE advantage from coming first and having a global scale network effect already. This is of course more likely, but still very very low chance.



Since Bitcoin is valued (among other things) for its hard money properties, which leads to it increasing in value over time, the most viable way something like this could happen is if it became really hard to acquire bitcoin, and therefore it stopped being such a great place to save money with, and therefore fewer and fewer new people got into bitcoin, all these things making the price stop going up for the most part. But, I think we can say with quite strong certainty that Bitcoin is not going to start getting harder to own but rather will continue to get easier to own and use. Case in point, now the USA has Bitcoin ETFs so the largest economy in the world is no longer limited to getting access (at least as an investment) to Bitcoin through crypto exchanges. The ways to own or get access to Bitcoin, and the ways to use it, will continue to increase as Bitcoin continues to grow into a major monetary asset. And so new people will continue to flock to it, and it's price will continue going up, and so growth will continue, and thus, it won't go extinct.

Another option would be that Bitcoin ruins its reputation so badly, that people no longer want to touch it.  I have no example at the moment, but given the social media crazyness, maybe someone comes up with a convincing fake news story or so..... and after that Bitcoin never recovers....

OK, I gave it some thought:  Lets assume there are terror attacks and also porn websites with nasty illegal content which involved the use of Bitcoins. Now mainstream media starts talking about "Terror coins" or "Pedo coins" for weeks on end. Finally the government decides that Bitcoin holdings without proper KYC can be confiscted by the goverment. And Bitcoin holder face a minimum 1 year sentence if any of the Bitcoins in their possession is even slightly linked to any crime.

Not sure if Bitcoin would survise such a scenario......

[nutildah]

The only way it would happen is if use drops off to a point where it no longer makes sense to continue running the network. It has happened to countless shitcoin blockchains in the past. But when it comes to BTC, I can only see it happening under a few different circumstances (short of WW3 destroying all communications & knocking out power grids on a global scale):

- an exploit of elliptic curve cryptography renders anybody's coins steal-able
- a backdoor in SHA-256 allows the NSA to basically rug the entire network
- quantum computers are used to brute force private keys

Any of these things can be fixed in future versions of Bitcoin. That is what's great about it: it can continue evolving and is not necessarily fixed in one particular form.

[SeriouslyGiveaway]

What are the chances of bitcoin going extinct?

It can be said that the probability of Bitcoin becoming extinct is almost zero with what has happened recently with Bitcoin such as the approval of the entire world through the Bitcoin ETF, and with each passing year, the strength of Bitcoin's network increases, making it extremely difficult to take control or destroy it from any organization. However, I will also point out a few factors that could lead to Bitcoin becoming extinct:
1. Technological Obsolescence
2. Regulatory Challenges
3. Security Vulnerabilities
4. Market Adoption
5. Competition (Example: Ethereum)

[MarjorieZimmermanGinger]

You should already know that the future is hard to predict, and while there is a chance that Bitcoin will become established accepted and adopted there's also the chance that it becomes replaced by another technology that we are yet to know or just become extinct, anything can happen. But you probably should not be worried about this because you may not be alive to witness the extinction of Bitcoin even if it happens because it will not happen in the next 10 years unless the government finds a way to actually shut it down.

The OP should talk about the causes and consequences of why Bitcoin could become extinct, not ask about possibilities that are difficult for us to determine. Technology will continue to be replaced as time goes by and so will the bitcoin journey process. But if you look at the aspects that make Bitcoin extinct, it is very unlikely, apart from this asset having a limited supply and Bitcoin cannot be in control by anyone. The value of Bitcoin's resilience in defending itself in the market has also been proven enough, where when Covid occurred we saw that Bitcoin was still quite strong.

For me never thought that bitcoin would become extinct because it is not a burden when we have made a profit, but rather how we need to think about collecting bitcoin now so that we can make a profit. The process of going extinct or not is not a big consideration because assets with high value, limited supply and which cannot be controlled by anyone can last much longer.

[Don Pedro Dinero]

zero

I would say there is no zero probability but pretty close to 0 if we are talking about the near future. However, if we are talking about 100 years from now, I am not so sure, and the further we go back in time, the less sure I am. I think it is unlikely, as it would mean not valuing a scarce commodity, as has been said, and very difficult to censor, but in the future we cannot know if other alternatives will emerge, what effects the policies implemented will have, and so on.

If the OP is someone who is thinking of buying now to hold for 4 or 5 years, don't worry.

[fruktik]

For the time being, I believe there is less chance that bitcoin will go extinct because it is already widely known and has a strong, globally distributed network of nodes, as well as miners and users. I think this strengthens its position and makes it difficult for any new cryptocurrency to surpass its level of adoption.As a long-term asset, bitcoin is less likely to become extinct since, in my opinion, it has developed into a widely accepted store of value and the perception of scarcity

One may not think about extinction until all his coins have been mined. And that's not going to happen anytime soon. There will be something new and unique.

Why? It may happen that for some reason all the coins will be banally lost. Is it impossible to consider such a potential scenario? Yes. Plus, technology is advancing so quickly that I wouldn't be surprised by the time crypto becomes an unnecessary tool in everyday life as well.

[3kpk3]

It's definitely not zero, but it's very, very close to it op. The only feasible way for it to actually happen is if all investors dump their stash or if they lose access to the internet completely whose chances are obviously extremely small.

The chances of humans becoming extinct is actually higher in comparison if you properly think about it.

[DubemIfedigbo001]

What are the chances of bitcoin going extinct?

This is not a topic I'll love discussing, we're all here for the advancement of the bitcoin crypto currency and the more its adoption is increasing, the less chance it loses prominence, not to talk about going extinct.

Let's promote it and worry less of the possibilities of going extinct. Bitcoin had existed for some time now, and its value keeps increasing over time. Doesn't that send some good feelings to your mind. Bitcoin has a very strong foundation of both being a valuable asset and a means of transaction. So I strongly believe that it will outlive all of us.

[arwin100]

You should already know that the future is hard to predict, and while there is a chance that Bitcoin will become established accepted and adopted there's also the chance that it becomes replaced by another technology that we are yet to know or just become extinct, anything can happen. But you probably should not be worried about this because you may not be alive to witness the extinction of Bitcoin even if it happens because it will not happen in the next 10 years unless the government finds a way to actually shut it down.

The OP should talk about the causes and consequences of why Bitcoin could become extinct, not ask about possibilities that are difficult for us to determine. Technology will continue to be replaced as time goes by and so will the bitcoin journey process. But if you look at the aspects that make Bitcoin extinct, it is very unlikely, apart from this asset having a limited supply and Bitcoin cannot be in control by anyone. The value of Bitcoin's resilience in defending itself in the market has also been proven enough, where when Covid occurred we saw that Bitcoin was still quite strong.

For me never thought that bitcoin would become extinct because it is not a burden when we have made a profit, but rather how we need to think about collecting bitcoin now so that we can make a profit. The process of going extinct or not is not a big consideration because assets with high value, limited supply and which cannot be controlled by anyone can last much longer.

Maybe he don't have any reason to talk about in mind and just post about something simple which is possible to happen since as we can obviously see there's nothing permanent in the world and what we think famous now maybe out in the business later on that's why bitcoin need a lot of boost especially on legal side like make it a legal tender so the chance of being extinct will be less. But since that one didn't happen yet maybe the one we can discuss is all about speculative possibilities since we are not sure or accurate on the words we are releasing.

There are so many things happen in the world just like covid thing and the crisis but so far bitcoin stand strong so I believe that if there's still many people support bitcoin this will never go in negtaive way just like what new people think about this possibilities.

[glendall]

What are the chances of bitcoin going extinct?

In my opinion, it could become extinct if there are no transactions for Bitcoin itself, but for now we still don't know when it will become zero, but in the near future I don't think it will happen.