Can Bitcoin Be Destroyed?

[IceLincoln]

Very long thread with less purpose. Almost everything listed in the Op is already a failed attempt to destroy bitcoin.

I don’t think the thread is purposeless. Yes, the fact that most of what has been listed as the attacks have failed woefully only shows Bitcoin’s resilience. It can be manipulated, restricted, criticised and attacked but never destroyed.
OP did a good job with his write up, putting all these informations together maybe probably would have shortened some explanations but it was worth it at the end.
There will always be attempts to bring down Bitcoin or to bring it under control by the government or other institutions but as long as the core protocol remains intact and decentralised they’ll never succeed.

[Shinpako09]

I've long since stopped thinking about whether BTC can be destroyed. Some countries, like the USA, wouldn't hold BTC if it could be destroyed. Not even the progress in quantum computing has made the USA sell its holdings entirely. If there is something that could destroy BTC, I believe the US would get the news firsthand and would make a move right away.

But since they didn't, they clearly don't see quantum computing as a threat yet. There are certain events that affect the price, which is normal, but something that could destroy BTC? That hasn't happened yet.

[CryptoBuds]

I've long since stopped thinking about whether BTC can be destroyed. Some countries, like the USA, wouldn't hold BTC if it could be destroyed. Not even the progress in quantum computing has made the USA sell its holdings entirely. If there is something that could destroy BTC, I believe the US would get the news firsthand and would make a move right away.

But since they didn't, they clearly don't see quantum computing as a threat yet. There are certain events that affect the price, which is normal, but something that could destroy BTC? That hasn't happened yet.

So, if one day Trump decides to sell all the Bitcoin held by the US, would you reconsider your view and start doubting Bitcoin? Would you sell all your Bitcoin if the US government sold its BTC, claiming that Bitcoin was no longer safe?

Bitcoin's existence and long term survival don't depend on whether the US or any other government holds it. Government can buy or sell Bitcoin, but that doesn't determine whether Bitcoin can survive or be destroyed.

If you want to know whether Bitcoin can survive in the long run or be destroyed, look at the Bitcoin network itself. Bitcoin's strength lies in its network.

[Razmirraz]

Snip.

So, if one day Trump decides to sell all the Bitcoin held by the US, would you reconsider your view and start doubting Bitcoin? Would you sell all your Bitcoin if the US government sold its BTC, claiming that Bitcoin was no longer safe?

Bitcoin's existence and long term survival don't depend on whether the US or any other government holds it. Government can buy or sell Bitcoin, but that doesn't determine whether Bitcoin can survive or be destroyed.

If you want to know whether Bitcoin can survive in the long run or be destroyed, look at the Bitcoin network itself. Bitcoin's strength lies in its network.

I am definitely not going to sell all my Bitcoin just because Trump sold all the Bitcoin owned by the United States, the reason I continue to hold Bitcoin is because the US sell-off does not automatically make Bitcoin unsafe, Bitcoin (decentralization) does not have an Off button in Washington or the White House. I still believe that Bitcoin success or failure depends on its fundamentals, namely scarcity, security, and adoption, not on the US selling all its Bitcoin.

The Bitcoin network's existence is determined by its decentralized nature, global user participation, and miner consensus, not by any particular country's policies or asset reserves, so Bitcoin long-term viability does not depend on government ownership. Governments do not have the authority to change the basic rules, stop blockchains or take down networks that are already running globally.
Yes, whether Bitcoin survives or collapses depends on the network, it has absolutely nothing to do with the government.

[suhadi88]

The Bitcoin network's existence is determined by its decentralized nature, global user participation, and miner consensus, not by any particular country's policies or asset reserves, so Bitcoin long-term viability does not depend on government ownership. Governments do not have the authority to change the basic rules, stop blockchains or take down networks that are already running globally.
Yes, whether Bitcoin survives or collapses depends on the network, it has absolutely nothing to do with the government.

The problem lies in users constantly monitoring government policies, especially financial ones, and this has a significant impact on their mood. They also weigh the risks involved if they do invest; they ultimately don't want to be victims of government policies.

Exacly. I don't think the government has any business interfering, let alone interfering to halt Bitcoin's core operations. I don't think they're involved in three common areas: oversight, tax collection methods, and most importantly, preventing BTC from becoming a means of payment in society.

[Fiasem20]

The Bitcoin network's existence is determined by its decentralized nature, global user participation, and miner consensus, not by any particular country's policies or asset reserves, so Bitcoin long-term viability does not depend on government ownership. Governments do not have the authority to change the basic rules, stop blockchains or take down networks that are already running globally.
Yes, whether Bitcoin survives or collapses depends on the network, it has absolutely nothing to do with the government.

The problem lies in users constantly monitoring government policies, especially financial ones, and this has a significant impact on their mood. They also weigh the risks involved if they do invest; they ultimately don't want to be victims of government policies.

Exacly. I don't think the government has any business interfering, let alone interfering to halt Bitcoin's core operations. I don't think they're involved in three common areas: oversight, tax collection methods, and most importantly, preventing BTC from becoming a means of payment in society.

It would affect the ones that one involved in it for some financial gain/target.It wouldn’t affect the miners all that because the government won’t start finding bitcoin miners so they can destroy their ASIC miners,so on that aspect the miners would continue mining and receiving their reward without being bothered about the government’s regulations imposed towards bitcoin,mostly the ones that are likely going to be affected are the investors and newbies because apparently nobody would want to get themselves into trouble especially when it’s coming from the government.Lastly,the network isn’t going to collapse as easy as they think it would because bitcoin is an open source,assuming a government should shutdown all the mining operations of bitcoin in their country it won’t pose a greater effect on bitcoin continuity because other countries are still mining bitcoins.

[Rabata]

how Bitcoin can be attacked without directly breaking its code or openly banning it.

Bitcoin cannot be destroyed, lets assume that Bitcoin will change or destroyed through usage and behavior. But my question is that when people themselves know that no one can attack the Bitcoin protocol or that the protocol will not be destroyed, how can they believe that it can be affected by usage and behavior alone. Those who understand this fact will have more confidence in it. If someone emotionally expects such a thing, it will never be logical. Moreover, people's trust in Bitcoin is gradually increasing. People believe that Bitcoin nodes will never close all at once. Miners will not stop working at once. Then there is no logic in believing such a thing. It can only be waste of time.

[Achalugo BTC]

The problem lies in users constantly monitoring government policies, especially financial ones, and this has a significant impact on their mood. They also weigh the risks involved if they do invest; they ultimately don't want to be victims of government policies.

Exacly. I don't think the government has any business interfering, let alone interfering to halt Bitcoin's core operations. I don't think they're involved in three common areas: oversight, tax collection methods, and most importantly, preventing BTC from becoming a means of payment in society.

Actually, you are correct but I don't think it will be easy for Bitcoin to be used as payment because that depends on the government since they can't control Bitcoin due to its decentralized in nature, though, Bitcoin can't be destroyed but the rules issued by the government make things difficult for one to invest in Bitcoin, as some feel it is unsafe to invest and this has made them unsure to take the risk to invest as they believe that anything can just happen and they might lose everything.

[samadam007]

It would affect the ones that one involved in it for some financial gain/target.It wouldn’t affect the miners all that because the government won’t start finding bitcoin miners so they can destroy their ASIC miners,so on that aspect the miners would continue mining and receiving their reward without being bothered about the government’s regulations imposed towards bitcoin,mostly the ones that are likely going to be affected are the investors and newbies because apparently nobody would want to get themselves into trouble especially when it’s coming from the government.Lastly,the network isn’t going to collapse as easy as they think it would because bitcoin is an open source,assuming a government should shutdown all the mining operations of bitcoin in their country it won’t pose a greater effect on bitcoin continuity because other countries are still mining bitcoins.

Bitcoin resilience isn’t only because it’s open source. There are plenty open source projects too that failed because they don’t have same strength with Bitcoin.
Bitcoin keep running because it has decentralized and has large network of miners, nodes and users spread across plenty countries. Even if one country go ahead to ban the mining or Bitcoin itself,  the network will still continue to run through other independent users. This is why it’ll be very difficult for anyone or government to stop it

[johnsaributua]

Bitcoin resilience isn’t only because it’s open source. There are plenty open source projects too that failed because they don’t have same strength with Bitcoin.
Bitcoin keep running because it has decentralized and has large network of miners, nodes and users spread across plenty countries. Even if one country go ahead to ban the mining or Bitcoin itself,  the network will still continue to run through other independent users. This is why it’ll be very difficult for anyone or government to stop it

Bitcoin's current strength lies in the vast network of parties from various countries. This is the main reason for Bitcoin's strength. Many countries today have networks of miners and nodes, which as you mentioned, are spread across the globe.
Bitcoin's resilience is not only focused on open source but also because the network runs as a link to all parties, but if the network does not run of course there are other options as a link to be able to carry out its duties, Bitcoin still has its own strength so that many parties sometimes want to stop Bitcoin but still cannot, even from the government, it is still the same as not being able to stop the power of Bitcoin.