Could bitcoin become extinct?

[bitLeap]

What are the chances of bitcoin going extinct?

The possibility of Bitcoin becoming extinct, of course there are several factors such as the internet in the world being completely dead and that is the only cause of Bitcoin becoming extinct. The world is experiencing a third war that uses nuclear weapons where all the access we use today goes back to the stone age. But of course this doesn't happen all at once, there are stages that need to be gone through. Do we expect that to happen? Of course not and hopefully that never happens.

[Nrcewker]

What are the chances of bitcoin going extinct?

The chances are very low I would say. Bitcoins cannot go extinct. The reason is that, Bitcoins are limited in numbers and are very popular I would say. So once the demand to acquire the coins goes down, people will keep on buying it. As people will buy it, hence the demand will go up again. It is a go to process I would say. Hence Bitcoins won’t go down any how. Hence, the coin can never go extinct.

[yazher]

The possibility of Bitcoin becoming extinct, of course there are several factors such as the internet in the world being completely dead and that is the only cause of Bitcoin becoming extinct. The world is experiencing a third war that uses nuclear weapons where all the access we use today goes back to the stone age. But of course this doesn't happen all at once, there are stages that need to be gone through. Do we expect that to happen? Of course not and hopefully that never happens.

Of course when the internet is gone, probably the usage of bitcoins will stop because there are only a few people who can trade it offline and it is still complicated for a simple person who barely uses his computer. therefore, we will go back to the traditional way of trading which is gold and silver just like in the old times and when the internet won't be back again then eventually the next generation of human civilization will forget about Bitcoin until it becomes extinct and no longer usable.

[tiCeR]

What are the chances of bitcoin going extinct?

The probability for Bitcoin going extinct = 1 - p(BTC not going extinct).

Without going through this thread I expect that most of the answers will be something like "it is impossible to predict that" or "nobody knows". I think the truest of the answers would be to say that it is not zero and this has many reasons.

The possibility of Bitcoin becoming extinct, of course there are several factors such as the internet in the world being completely dead and that is the only cause of Bitcoin becoming extinct. The world is experiencing a third war that uses nuclear weapons where all the access we use today goes back to the stone age. But of course this doesn't happen all at once, there are stages that need to be gone through. Do we expect that to happen? Of course not and hopefully that never happens.

This is one aspect that is indeed true because when we think about events that could make BTC become extinct, there is a good chance that many other important things become extinct or are at threat. As soon as we have a technology that can derive private keys from public keys, the set of problems humanity would then be facing is much bigger than BTC going to zero.

The total market capitalization is a good indicator of the trust that people and institutions around the world put into BTC. The whole infrastructure that has been built and the investments that went into that infrastructure, the political endeavors in regards to ETFs and other investment products and many other things that are related to BTC are all positive signs that BTC won't suddenly disappear anytime soon.

But nobody knows whether the wheel will be around forever if there soon might be some other tool to move stuff from A to B, like vehicles based on magnetism and what not.

Since BTC is deflationary, there is a strong incentive for BTC network stakeholders to not jump ship. That's fundamentally different from FIAT currencies like the USD. BTC won't become inflationary where the USD already is. For the time being I think it is quite safe to assume that BTC will be around for quite a while

[CageMabok]

Bitcoin has been created to a point of no return, because is a global digital assets usage in which no the price is keep increasing from one stage to another as long the other stock market and internet keep functioning and Bitcoin keep existing and community keep increasing across the globe.

As you can see now, it is almost difficult to return to the lowest point if we remember the number of users who continue to increase and believe in Bitcoin. But each of us also needs to understand that at a certain time the influence of several other things can also cause a decline in prices, even if only for a very small duration and percentage.

So even though Bitcoin has become a very global crypto asset and is also very good for everyone if they want to use it for investment, everyone still has to understand the risks so they are not too surprised when the price drops suddenly. Because Bitcoin is an unstable asset, this means that everyone can expect better profits when prices increase in the market.

[Marvelman]

What are the chances of bitcoin going extinct?

The chances are very low I would say. Bitcoins cannot go extinct. The reason is that, Bitcoins are limited in numbers and are very popular I would say. So once the demand to acquire the coins goes down, people will keep on buying it. As people will buy it, hence the demand will go up again. It is a go to process I would say. Hence Bitcoins won’t go down any how. Hence, the coin can never go extinct.

Sure, with only 21 million out there, Bitcoins are rare as a four-leaf clover.  But just cause something's scarce don't automatically make folks wanna buy it and  demand's a tricky thing, ya know? You say demand will always bounce back but trends change.  Just ask Blockbuster or Myspace - they used to rule the world! New gizmos come along and yesterdays hot item gets tossed in the garage sale pile.   

I ain't saying Bitcoin's just a fad.  But it ain't immune to losing its luster if something flashier comes along.  Peoples tastes evolve.  Heck, pogs and pet rocks used to be serious business! So while Bitcoin's special now, nothing stays golden forever.  We gotta stay open-minded, that's all I'm saying.

[southerngentuk]

The idea of Bitcoin going extinct? Not so fast, bro. Don't be so quick to dismiss someone's opinion just because it differs from yours. The crypto world is vast, and a little skepticism never hurt anyone. Think of altcoins like spices in a hot pot. Each one brings its own unique flavor. Bitcoin may be the OG, but competition breeds innovation, just like students study harder when they have rivals. As for decentralization and security, Bitcoin is top-notch. But technology is constantly evolving, and who knows, another project might come along with something even better. Storing value in Bitcoin? Well, its price fluctuates like a roller coaster! Can it hold its value in the long run? Only time will tell.

[Asuspawer09]

What are the chances of bitcoin going extinct?

There is always the possibility of Bitcoin becoming extinct and probably not going to exist anymore more like dead coins in the market, but as we can see in the market today it is probably not going to happen since cryptocurrency is just getting more popular as years pass, so it could probably say that it is going to last through the whole year. I mean the fact that Bitcoin could easily disappear, and the market could easily drop its value due to its volatile market price, is just what makes Bitcoin a very risky investment, we dont really know what could happen, after 5 years maybe Bitcoin is not going to exist any more war could easily start and we dont know how it is going to affect the market right.

Because of that just dont put all of your money or bet it on only on Bitcoin always make sure to have a plan B, and make sure to have a financial foundation first before even starting to put your money on risky investments like Bitcoin or cryptocurrency.

[Ale88]

What are the chances of bitcoin going extinct?

It's a very broad question, are you asking about some actual reasons that could lead to bitcoin's death in a normal world or in any possible scenario, even those that are quite unlikely to happen? Because let's say that there is a nuclear war or an asteroide hits earth and all the human race gets wiped out, well, in that case bitcoin would become extinct, just like us. Otherwise I'm not sure, I remember reading somewhere that bitcoin could keep going even without internet, I should look it up again because I don't recall the details but I had no idea it was even possible.

[EarnOnVictor]

What are the chances of bitcoin going extinct?

The possibility of Bitcoin becoming extinct, of course there are several factors such as the internet in the world being completely dead and that is the only cause of Bitcoin becoming extinct. The world is experiencing a third war that uses nuclear weapons where all the access we use today goes back to the stone age. But of course this doesn't happen all at once, there are stages that need to be gone through. Do we expect that to happen? Of course not and hopefully that never happens.

For the world's internet connection being cut off, yes, I agree with you, it can affect Bitcoin badly. But is that even possible? That is the question we should ask ourselves. In my opinion, if the internet connection of the world is cut off, then it means that there is no world again, it's probably that something has gone wrong totally which I do not think is possible unless for the rapture. Also, about the war, I do not think that Bitcoin will be dead because of the war, it will remain as it is blockchain technology we are talking about. It will just remain the way people left it, that's even if people will not turn to it because of the war. You know what? War of the olden days can't be like this one, and for war to be happening doesn't mean that the internet and gadgets will not be working.

Even if they are not working in all places, they will be working in some places, so people with an internet connection will still continue to transact with their Bitcoin. The only issue is that due to the war, some places will surely be affected, and due to this, the patronage of Bitcoin might be little. This might either cause less demand and more supply, or the other war round, we can't certainly know the right equation depending on the war and how it affects individuals and countries.

Above all, Bitcoin will continue to operate during war, that is what I am sure of as war will not shut out all domains and all the needed infrastructure altogether.

[GbitG]

What are the chances of bitcoin going extinct?

Zero until the earth exists and there is life in it and there is internet service available. Bitcoin might only go extinct if the whole world, every single person and entity, stop using Bitcoin all of a sudden, the markets stop because people stop buying and selling, and the blockchain stops because no transactions are being done. That is when Bitcoin might die, and what are the odds for that happening? In my point of view, none.This thing might happen in the distant future where there might be a better technology and something much better than Bitcoin is invented and people leave Bitcoin and start using that and Bitcoin dies off like a meme coin which doesn't get enough attention and eventually dies.

[goldkingcoiner]

yes, if we don't have electricity anymore, BTC will go extinct

No it will not. If we do not have electricity anymore, we simply cannot transact or mine Bitcoin until we have our electricity back. Unless we never have electricity again, then that is a different matter. But lets be realistic, that is not going to happen.

Bitcoin cannot become extinct unless everyone in the world suddenly decides to drop Bitcoin. And even then I am sure there will be a few dedicated people still keeping things going.

The most realistic scenario is that an alien race visits us and gives us technology that makes money completely redundant. In that case, sure. Maybe.

[Youngkhngdiddy]

What are the chances of bitcoin going extinct?

   Bitcoin is for the people and can only go in extinction if we the people decide not to involve in Bitcoin anymore. No country or governmental body have authority over  the existence of Bitcoin. Because of the nature of this technology I believe that there is no reason for extinction.  I believe that we will see a global adoption. It will be like the internet. One obvious use will be as money. The paper money will get replaced. People will use crypto currencies as an exchange of value. See the hype about DeFi. Decentralized finance. Time to change the monetary system. I think the days of contemplating the relevance of crypto in our world is really past cos it’s literally the future with the meta verse in play and web3, NFTs.
   However, despite its volatility, Bitcoin has continued to gain popularity and mainstream acceptance over the past few years. More and more merchants are beginning to accept Bitcoin as a form of payment, and major financial institutions are starting to explore ways to incorporate crypto into their operations. One potential factor that could impact the future of crypto is the regulatory environment. Governments around the world are still grappling with how to regulate cryptocurrencies, and there is a lot of uncertainty around what the future holds in this regard. However, some countries like Japan have already taken steps to regulate the industry, which could provide a model for other countries to follow. In terms of market adoption, there are still many people who are skeptical of cryptocurrencies and view them as a risky investment. However, as more people become educated about the technology behind crypto and its potential applications, we may see increased adoption rates.

[uneng]

What are the chances of bitcoin going extinct?

The same chances of internet, electronic devices, electricity and an apocalyptic meteor hitting the Earth. That is, the only chance of Bitcoin going extinct is through preventing people to have access to it definitively. These scenarios look really unlikely, but not impossible, anyway, as we are under constant threats of wars, pandemics, crisis, shortages and natural disasters. Some of those events can trigger the extinction of Bitcoin, or make money and assets worthless for humans' survival, so people would completely lose interest for Bitcoin to focus in more immediate things related to their existence.

Bitcoin remains important while people have long term goals focused on thriving and improving their lives. But once such long term goals cease existing due to external factors like the ones mentioned above, Bitcoin loses its importance as well, as most of every other goods we appreaciate so much in our capitalist daily life. Moreover, once a new technology arrives and replaces Bitcoin, it will get naturally extinct. However, something like this to happen will take a long time yet...

[Cookdata]

What are the chances of bitcoin going extinct?

Why do you have this mindset. Is it because you don't owe no bitcoin? There could be some bitcoin that might not be accessible due to inaccessibility to private keys, forgotten private keys, see d phrase mismatch and loss of paper wallets but that does not mean bitcoin will go to extinction.

It doesn't even make sense to think this low, it means you have not been paying attention to what has been happening around Bitcoin. Take for for instance today, ETF Bitcoin has cross a milestone of $10b, this means that institutional investors has invest more than $10B within a space of one month after Bitcoin ETF has been approved, we don't know how the numbers will grow in the coming months, you think with such investment coming to Bitcoin, it will die and be forgotten one day? Extinction is not the right word to be used here.

The only challenge here is Bitcoin supply, it will continue to shrink and miners will continue to have less and less number of Bitcoin until 100 years to come. What will happen next depend on what will happen next on price and the next thing to do will happen by then, so for now just focus on the growth because bitcoin is too real to die, you should have asked this question 7 years ago when people were having so much doubt about the future.

[red4slash]

The possibility of extinction certainly exists but not for the present time because after all bitcoin is currently still dependent on several things such as electricity and the internet so indeed when these 2 important things are lost then surely this will be the beginning of extinction that cannot be avoided.
It's just like I said before where things like this won't happen for the near future because after all we still live in an era where even though several countries in the world are experiencing chaos but everything is still maintained and can still be minimised so that bitcoin will still continue to exist.
It would be quite naive if indeed things that already exist will not disappear as well as bitcoin because even though they are currently in a good state of development but in the future extinction could occur, it's just that the chances are a little small.