Can Bitcoin Be Destroyed?

[red4slash]

The strength of Bitcoin lies within it's users. For me, the only way to actually destroy Bitcoin is to poison the minds of the users towards Bitcoin. That can only be the destruction of Bitcoin. But with institutions already adopting and storing Bitcoin, I don't see that actually happening.

This has even been tried to do with the many media narratives that try to demonize bitcoin even almost every know there is always but the result will remain the same where the confidence in bitcoin will be much greater even though the fud that is done every year is always there.

This indicates that doing FUD and trying to poison thoughts about bitcoin is not for destruction but weakening shortly after bitcoin will remain as it is even the level of trust will be much greater than before. We must often see how the government with its media tries to make the narrative as if bitcoin is bad almost every year but it doesn't even have an impact for the long term. Maybe the level of dislike will remain for ordinary people but it is only for a moment because when they find out how bitcoin works slowly their minds will change.

[JayJuanGee]

The strength of Bitcoin lies within it's users. For me, the only way to actually destroy Bitcoin is to poison the minds of the users towards Bitcoin.

this point is totally accepted because Bitcoin cannot be possibly being destroyed without someone knowing the document that satoshi use to create Bitcoin but the only way it can be destroyed is through restriction by the users, if different countries stop making use of Bitcoin it is human bitcoin will be totally destroyed based on lack of investment and lack of adoption.

Why would any document related to Satoshi's creating bitcoin make any difference when the whole of bitcoin's code has been open source?  If there were any secrets within bitcoin's code, they would have had been discovered, even though sometimes there can be difficulties with code that are not understood until some later date or under some different sets of circumstances.

[devouring-DARKNESS]

Bitgoba, thanks for sharing this, because after reading all the points, I realized we have discussed all this already, but to open the eyes of a newbie so they could know what is real and fake. This post is enough.

In the short term, the government failed to ban it because it was decentralized, so now they have joined it because that's the only way to brainwash the new generation. They can easily change the mindset according to their needs of the new generation while giving them the lesson, which will also be taught to them in schools and universities. I have not read a single syllabus yet except the one they taught in El Salvador, I just started reading that syllabus.

Anyway, the point is a newbie must get information from more than one source. Bitcoin can't be destroyed, but it can cease to exist if people eventually stop using it, and it can become a lesson from history. Therefore, people like you and me who understand how the government is brainwashing people can't be really falling for their agenda.

'Ignorance is bliss' this is something that annoys me when ever the person being ignorant says it, as far as I'm concerned it's Human nature to want to know things, the government understands this so they tend to create a false narrative that knowledge is actually being acquired when in truth whats being pumped to the public is exactly what they want the public to know, and that's why a place like this forum exists, to properly educate people on what bitcoin is and how it really works so they don't easily get misled by others.

The strength of Bitcoin lies within it's users. For me, the only way to actually destroy Bitcoin is to poison the minds of the users towards Bitcoin.

this point is totally accepted because Bitcoin cannot be possibly being destroyed without someone knowing the document that satoshi use to create Bitcoin but the only way it can be destroyed is through restriction by the users, if different countries stop making use of Bitcoin it is human bitcoin will be totally destroyed based on lack of investment and lack of adoption.

Why would any document related to Satoshi's creating bitcoin make any difference when the whole of bitcoin's code has been open source?  If there were any secrets within bitcoin's code, they would have had been discovered, even though sometimes there can be difficulties with code that are not understood until some later date or under some different sets of circumstances.

There are currently no secrets with bitcoin, even transactions are open to the public if you know where to look which is why it's as trusted as it is, although we can't say for certain but there is currently no way for someone to just destroy bitcoin, I can bet that people have probably already tried to do that, I don't know about the near future though.

[ArabBTC]

I will want to defer my view on this subject because i don’t believe that anything is impossible on planet earth, yes Bitcoin has gained a significant widespread popularity amongst investors across nations and it is difficult to track due to its decentralized nature but that doesn’t completely erase the fact that it can still be destroyed, the only thing we can say is that it will be extremely difficult to destroy and the government might not have that patience to destroy it, but the thing is if leading world nations completely seat and decide that they will stop at nothing until bitcoin is destroyed i bet you it will only take some time, humans have never failed in any task that they completely focus their entire energy. If the government stop any form of further mining and put strict ban on any bitcoin transactions like a death sentence penalty you will see that a lot of persons won’t want to have anything to do with bitcoin again, no one nor asset can be bigger than the government.

[Oluwa-btc]

Sixteen plus years and despite several attempts to pull Bitcoin down, it is still thriving. I doubt it could be destroyed but it can definitely face attacks. Not even the pr done by traditional systems to pull it down had effects.
At the same time the security side of it too do not leave me by surprise, I believe it faced whatever whatever attacks all these years and will still do. With the current situation, the general response should be negative(No). Not even the collapsed hash rate should be a medium for the bitcoin network to face attacks.

[avp2306]

The strength of Bitcoin lies within it's users. For me, the only way to actually destroy Bitcoin is to poison the minds of the users towards Bitcoin.

this point is totally accepted because Bitcoin cannot be possibly being destroyed without someone knowing the document that satoshi use to create Bitcoin but the only way it can be destroyed is through restriction by the users, if different countries stop making use of Bitcoin it is human bitcoin will be totally destroyed based on lack of investment and lack of adoption.

Why would any document related to Satoshi's creating bitcoin make any difference when the whole of bitcoin's code has been open source?  If there were any secrets within bitcoin's code, they would have had been discovered, even though sometimes there can be difficulties with code that are not understood until some later date or under some different sets of circumstances.

I'm confused about those documents he said, but one thing is for sure here. Bitcoin code is open source and it means that every detail is publicly available since day one of its creation.

If it really happens that there are what they called secret codes or anything mystery hidden. For sure that this will be discovered by thousands of researchers and developers which frequently doing audits with the code.

This is the reason why those documents they say about the intent of Satoshi will not gonna change how Bitcoin works. The system remain to be verifiable and transparent and this is really good about Bitcoin.

Maybe other people can learn something from here https://bitcoinsecurity.org/learn/open-source-software

[BALIK]

I will want to defer my view on this subject because i don’t believe that anything is impossible on planet earth, yes Bitcoin has gained a significant widespread popularity amongst investors across nations and it is difficult to track due to its decentralized nature but that doesn’t completely erase the fact that it can still be destroyed, the only thing we can say is that it will be extremely difficult to destroy and the government might not have that patience to destroy it, but the thing is if leading world nations completely seat and decide that they will stop at nothing until bitcoin is destroyed i bet you it will only take some time, humans have never failed in any task that they completely focus their entire energy. If the government stop any form of further mining and put strict ban on any bitcoin transactions like a death sentence penalty you will see that a lot of persons won’t want to have anything to do with bitcoin again, no one nor asset can be bigger than the government.

Your point isn't wrong. Bitcoin isn't immortal and it can be destroyed. In theory, it is possible for government to work together to destroy Bitcoin. However, in reality, that is almost an impossible task. It would be extremely costly while bringing them little to no practical benefit.

In other word, it is highly unlikely that all government around the world would agree to spend enormous resources just to destroy Bitcoin. So its not entirely wrong to say that Bitcoin is almost impossible to destroy.

[SmartCharpa]

That’s the truth about Bitcoin is a reliable assets that’s everyone has interest to buy and hold; so it will be difficult that Bitcoin will be destroyed, because is not that the Bitcoin is controlled by government or anyone if to say the government is are the one controlling the Bitcoin I know that destroy might ne possible, but since is not destroy will be very hard to happen in my opinion.

Because Bitcoin is decentralized and that’s why it h as s a strong roots to stay forever none have the power or right to destroy it, government have been looking of a way where they can able to attack the Bitcoin. But it was not possible, and they can never be succeed about that since is not control by any organizations.

If one government had the power to destroy Bitcoin; I believe they would have done it for a long time now. Some countries do not accept bitcoin, but that doesn’t mean other countries do not support it. If bitcoin was controlled by a single government, I don’t think some people would be able to witness it today. Bitcoin has prove its value to world, and most of the government of nowadays are using the advantage of bitcoin to save their assets for the future.

My country, for example has been doing everything to prevent their citizens from holding Bitcoin because they don’t value the local currency anymore. The government can only make it difficult for their citizens to reduce the use of Bitcoin, but they don’t have the power to destroy it. even though every government in the world agreed that they should destroy bitcoin, it is not going to be easy.

[Faisal2202]

'Ignorance is bliss' this is something that annoys me when ever the person being ignorant says it, as far as I'm concerned it's Human nature to want to know things, the government understands this so they tend to create a false narrative that knowledge is actually being acquired when in truth whats being pumped to the public is exactly what they want the public to know, and that's why a place like this forum exists, to properly educate people on what bitcoin is and how it really works so they don't easily get misled by others.

I can't agree more. They don't have to ban any information, although there are some topics they don't want anyone to discuss online, but the rest they can frame into anything. They decide everything, like what gets taught, like the history lessons of previous wars.

Let's say I am in X country, so the social studies basic book will hide facts and will only show we were right and they were not. Their books will say they were right about this and the others were wrong. So that's how they brainwash the youth, and it is easier for the next regime to control and do their thing, whatever it is.

Forums are a great source of information, but it usually depends on the people. Some would say knowledge costs you, but I say it might, but the result is worth it.

Let's say if you understand this little concept, then you would never give your funds to them for small returns.

[Compromise me]

The Bitcoin was created to keep operating even when the main part of it's foundations are interrupted, it is security actually comes from thousands of independent computers circulating beyond the differents countries in the world, than depending on a single company,organization or Government. If a huge numbers of the bitcoin miners unexpectedly disconnect, new blocks may actually takes a long term to truly process for short period of time. Also the protocol automatically decreases the mining difficulty to match remaining computing power and then allowing the network to returns to its normal functioning. This is one of the biggest factor in bitcoin that makes it remains resilient and stronger. Example of it was what happened in the past years, as of 2021 when China banned mining, almost half of the computers were experienced offline and the network were slowed automatically, then faces little difficulties and later working fine.

Bitcoin has no expiry date and this is a big reason why Bitcoin has lasted so many years otherwise other coins called memcoins have their price in front of us which we do not usually use and are a better option for people starting from scratch. If Bitcoin had been launched by the government then, I think very few countries would have used it because the dollar was the same and now its value has become slightly lower according to the countries. Apart from this, only good or bad news from the government can shake Bitcoin a little so that Bitcoin is not based on any one thing. This thing can have a bad effect on the increasing prices of Bitcoin and this is the reason why mining is taking care Bitcoin. This used to be a big job on the part of China and Bitcoin was growing quite fast in those days but China made some good decisions for it which was according to their country.