Bitcoin is immortal

[nakamura12]

I really can't say that bitcoin is really immortal or maybe just like those in the movies or anime where bitcoin will exist for a very long time. In my opinion, government can't do something to bitcoin network although they can do something to the people who use it like banning the crypto or regulating an exchange like the government in my country. Some people may go to prison but we can't deny that there will be people who will hide from the government and still use it.

BTC may seem immortal. But it would die in a minute in a worldwide EMP collapse.

This means that bitcoin seems immortal but with a weakness of EMP.

[Mpamaegbu]

OP, while still basking in the euphoria of what Bitcoin is; don't forget that nothing lasts forever. Just like two decades ago there wasn't anything like Bitcoin, we may have a newer tech that can replace Bitcoin a few decades from now too. Those who started using gold as store of value also thought and believed there wasn't going to be anything that could replace gold. Now we know better. It's the same way I perceive Bitcoin could go. Again, nothing lasts forever.

By the way, I thought 51% of miners could've its way for any change to be made on Bitcoin. With that, it means any change is possible, including the "immortal" nature you talked about.

[btc78]

No, if governments find a way to shut down Bitcoin, then there is no way for Bitcoin to survive with its original form because if they beat such a strong and popular system, then the new copy/paste won't have time to become as popular and adopted as the OG Bitcoin.

no government can shut down bitcoin they can ban it yes but they can’t destroy the network

If it happens what you describe, then we will have a need to create absolutely brand new Bitcoin that will be better than the OG version, that will be more decentralized than OG and much harder to ban then OG.

what do you mean “harder to ban” that doesn’t make sense because a government can ban anything if they want to even google is banned in china they can block anything but it doesn’t mean that the network is bad or unsafe or weak

[BADecker]

The lower she goes now, lots more folks will be frustrated. But it's just a buying opportunity for later, right?

[Stalker22]

No, if governments find a way to shut down Bitcoin, then there is no way for Bitcoin to survive with its original form
~

And how do you think they can do that? No, I dont think a single government can shut down Bitcoin completely. And I dont think all the governments on the world can agree  on anything.

[Smartprofit]

I don't know whether Bitcoin is immortal or not.... The first cryptocurrency requires a lot of electricity to function. Currently, planet Earth does not generate enough electricity.

Humanity has not been able to create thermonuclear power plants; this technology has proven to be inaccessible to people.

The main consumer of electricity will be artificial intelligence. At the same time, artificial intelligence is planned to be used as a weapon, so high-ranking military officials will demand that they be provided with electricity for military AI in ever greater volumes. In the context of a general arms race, such demands will be met. At the same time, the first cryptocurrency and artificial intelligence are actually competing with each other for electricity.

What will happen if artificial intelligence wins this competition?

Governments of all countries can put strong pressure on Bitcoin developers and force them to transfer Bitcoin to the PoS consensus algorithm. Such a decision can lead to the death of Bitcoin (as we know it).

[Smack That Ace]

No, if governments find a way to shut down Bitcoin, then there is no way for Bitcoin to survive with its original form
~

And how do you think they can do that? No, I dont think a single government can shut down Bitcoin completely. And I dont think all the governments on the world can agree  on anything.

Governments may not be able to completely shut down bitcoin but if governments like the US, Europe and other major powers impose strict bans and consider it a national security threat. That will be the end of bitcoin.

Bitcoin is decentralized and private in nature but what people seek and need from it is the returns it brings. So if it gets banned by the government or something happens that makes it unprofitable, people will abandon it and what's the point of it being immortal when no one needs it anymore?

[Abiky]

BTC may seem immortal. But it would die in a minute in a worldwide EMP collapse.

True. But what's stopping someone from re-launching it? After all, Bitcoin is open source. As long as there's access to the code, no one will be able to stop it.

When you put it that way, it is of course immortal because it is not possible to shut it down or centralize it or censor it or ... but Bitcoin is technology and like any other technology it has its limitations. I believe eventually Bitcoin will be replaced with newer and better technology. It won't happen any time soon though, maybe 10 to 20 years from now we see something better come along... specially with the way technology is advancing which is speeding up.

Maybe. But what if Bitcoin adopts the new tech to improve itself? The project is open source, so anyone can modify or improve it at will. In this sense, Bitcoin is already immortal.

[_BlackStar]

-snip-

Governments may not be able to completely shut down bitcoin but if governments like the US, Europe and other major powers impose strict bans and consider it a national security threat. That will be the end of bitcoin.

Bitcoin is decentralized and private in nature but what people seek and need from it is the returns it brings. So if it gets banned by the government or something happens that makes it unprofitable, people will abandon it and what's the point of it being immortal when no one needs it anymore?

Bitcoin is not a national security threat - it is just an alternative currency created in such a way that has all the advantages, instead of fiat. Bitcoin's decentralization makes it uncontrollable by anyone - so the government can't kill it and throw it into hell. Moreover I don't think governments will agree to boycott bitcoin when they realize that there are potential multiple benefits they can gain from it - so it's a win-win situation.

Of course it is possible to get the governments of some countries to ban bitcoin like a few years ago - but over time bitcoin has opened their eyes and then accepted it. Instead of banning bitcoin completely - the government will actually get high income for the country if it legalizes it.

[Smartvirus]

Meaning, anyone with the code can just re-launch BTC and restore its decentralized capabilities. Not even purging or banning GitHub (or similar) repositories will be able to destroy Bitcoin. And don't get me started on Quantum computing.

At this point, I'd say Bitcoin is immortal. Wouldn't you agree? If not, may I ask why?

It wouldn’t do much good for sure, I don’t see how a lot of investors would be okay with something that could go on and off at anytime just to get relaunched again. Yeah, it’s great that it could be that way but, it’s not something investors would like to deal with.
However, this isn’t going to happen, not a chance, it’s decentralized nature is one that stands and they’ve not got anything to track back to. The closest thing to being centralized is the exchanges and that’s the CEX.

[nullama]

Bitcoin need to evolve. Make it quantum proof.

The secp256k1 encryption used by bitcoin is not quantum proof within 5-10 years it will be game over for bitcoin if this was not change.

Current quantum computers have 500- 1000 cubits to break bitcoin you only need quantum computer with 1500 cubits.

There's no need to add quantum algorithms right now.

The algorithms already exist, if there is any kind of threat, the devs will be able to add the code in a few days.

I don't think it's a big issue really.

[kotajikikox]

The lower she goes now, lots more folks will be frustrated. But it's just a buying opportunity for later, right?

The key to success is doing things not a lot of people are not willing to. That is why there is only such a small percentage of successful people. If it were easy, we would have all been rich but the fact that we are not makes those who are rich stand out more. When the price of bitcoin goes down, other people start panicking and start selling way lower than the price they bought for.

While they are selling their bitcoins and losing money, we can take this chance and buy some more for a low price and wait until it goes up again. We just have to be patient and profit will come soon.

[nullama]

~snip~
The key to success is doing things not a lot of people are not willing to. That is why there is only such a small percentage of successful people. If it were easy, we would have all been rich but the fact that we are not makes those who are rich stand out more. When the price of bitcoin goes down, other people start panicking and start selling way lower than the price they bought for.

While they are selling their bitcoins and losing money, we can take this chance and buy some more for a low price and wait until it goes up again. We just have to be patient and profit will come soon.

I think you're right.

At the end of the day it is not lack of information, but lack of action.

Otherwise we would all the millionaires with a six pack.

It takes consistent action to get a a lot of money, and also be fit.

[NewRanger]

The key to success is doing things not a lot of people are not willing to. That is why there is only such a small percentage of successful people. If it were easy, we would have all been rich but the fact that we are not makes those who are rich stand out more. When the price of bitcoin goes down, other people start panicking and start selling way lower than the price they bought for.

While they are selling their bitcoins and losing money, we can take this chance and buy some more for a low price and wait until it goes up again. We just have to be patient and profit will come soon.

The decision is back to us again, no one can interfere with what decisions we will take for our lives or investment journeys.. we have different goals here that we must achieve, and also our experiences are very different from others, and we cannot generalize them. With different goals of course we will take a strategy that is suitable and easy to do. Maybe the risk ratio and imbalance will be adjusted to our investment plan and Bitcoin will be eternal for those who always believe.

[fikrett]

I think you're right.

At the end of the day it is not lack of information, but lack of action.

Otherwise we would all the millionaires with a six pack.

It takes consistent action to get a a lot of money, and also be fit.

And said action is coming from knowledge. So it's rather info being digested and transferred into action eventually.
At least that's how I see it, but when it clicks, a person never doubts BTC ever again.

[BALIK]

As long as the internet exists, I will agree with you, but if we wake up one day and anything that has to do with the internet is shut down, then bitcoin will go down with it. There is no way to communicate with the technology without an internet connection.

Aside from that, Bitcoin being decentralised alone has defeated the challenge of it being controlled and shut down by any centralised entity.

If the government decides to ban Bitcoin and make it criminal to own it.  People and institutions will avoid using it for fear of punishment. If there are no Bitcoin exchanges because the government has shut them down, Bitcoin will lose its liquidity which will discourage investors. Bitcoin is indeed immortal but government policies can make it lose its worth.    

People are so focused on the decentralization of bitcoin that they become complacent and think that even the government cannot stop it. That may be true but people forget that the government doesn't need to find a way to shut it down. They just need to ban it and declare bitcoin illegal, bitcoin will gradually become worthless and bitcoin's immortality will no longer have any meaning.

When bitcoin becomes worthless, will we still support bitcoin? I don't think anyone is here just to support and maintain the existence of bitcoin without caring about their own interests. Bitcoin's existence is not determined by its decentralization but by human need, if we no longer need it and do not want it anymore, it will die.

[Su-asa]

But aside from that, I doubt even a authoritarian world government/leader will be able to stop Bitcoin.

Stopping Bitcoin? No, because the government is centralized, while Bitcoin is decentralized. They can’t shut down the network. The best they can do is try to discourage people from using Bitcoin through regulations. But that fear isn’t a big deal anymore since major countries have already legalized Bitcoin, which means we’re here to stay.

The fact Bitcoin is decentralized, it can't be possible for the government to stop it. Like you do said the government might try to stop Bitcoin those close to them not to buy Bitcoin but they can not stop the whole world from adopting Bitcoin. Bitcoin is free for everyone to own when they are ready to invest. Even some government knows the benefits of Bitcoin in the future that's why they have legalize it in their country but still few developing countries I think have adopted to the Bitcoin technology yet. The fact Bitcoin always fluctuate is what makes the government not to be comfortable with it. They can not control the price of Bitcoin as they control their fiat currencies.

[CoinFoxs]

Anything can happen to bitcoin as we are seeing many government officials have their assets stored in bitcoins buy may be in future countries start launching their own digital currencies as few countries does so then they are holding assets in their own currency which will make difference. But to some extent i agreed to your opinion bitcoin will rule digital for next many years!

[Abiky]

There's no need to add quantum algorithms right now.

The algorithms already exist, if there is any kind of threat, the devs will be able to add the code in a few days.

I don't think it's a big issue really.

The real threat is AI. We can't predict what its moves will be. Especially if it gains self-consciousness. AI can find a way to "break" into Bitcoin, rendering it completely inoperable. Fortunately, Bitcoin can make use of AI to counteract the efforts of rival AIs. The project is open source, anyways.

Once Bitcoin becomes AI and Quantum-Resistant, it will be truly impenetrable. By itself, it's already immortal. As long as someone has access to the source code, there should be nothing to worry about. I'm afraid it's already too late to "destroy" Bitcoin. Wouldn't you agree?

[nullama]

~snip~
The real threat is AI. We can't predict what its moves will be. Especially if it gains self-consciousness. AI can find a way to "break" into Bitcoin, rendering it completely inoperable. Fortunately, Bitcoin can make use of AI to counteract the efforts of rival AIs. The project is open source, anyways.

Once Bitcoin becomes AI and Quantum-Resistant, it will be truly impenetrable. By itself, it's already immortal. As long as someone has access to the source code, there should be nothing to worry about. I'm afraid it's already too late to "destroy" Bitcoin. Wouldn't you agree?

I don't really understand this.

AI, in the form of a "chat bot", is simply a text generator.

It doesn't have a deep understanding of what's going on. It can generate text, or images, etc, but it doesn't grasp the meaning of the words, it's all based on statistical analysis.

It's a great achievement, of course, and very useful, but it's not really a sentient organism.

One key aspect is that it is always waiting for you to ask something. It doesn't have the initiative to send you a text out of the blue. There's no "life" in it.