What spells the end

[panju1]

People not spending BTC  is what I'm going with.

That's an interesting one. You mean everyone just sitting on their coins, meaning there is no circulation and it ceases to operate as currency, which in turn causes it's value to decrease. Hadn't thought of that one, but it is a definite possibility, thanks.

If its value decreases, everybody would rush to spend them.....

[dnydublin12]

People not spending BTC  is what I'm going with.

That's an interesting one. You mean everyone just sitting on their coins, meaning there is no circulation and it ceases to operate as currency, which in turn causes it's value to decrease. Hadn't thought of that one, but it is a definite possibility, thanks.

If its value decreases, everybody would rush to spend them.....

So to bring it all together...

0. new bug found in bitcoin core, which worries people
1. bitcoin value decreases
2. everyone rushes to spend them/convert back to Fiat
3. as prices drop miners profit gone so they abandon processing and shutdown operation
4. network becomes very susceptable to 50.1% attack
5. hacker/gloryhunter who wants to be the one to bring down bitcoin launches an attack (or anyone/any company whose interests are threatented by bitcoin success)
6. alternative cryto PoS or PoW which isn't susceptable to centralisation problems reboots the system
7. alternative is more widely spread in terms of ownership and more secure
8. off we go again

[Datcracktho]

Satoshi is a genius. Bitcoin is uncorruptible, unbeatable, perfection. No such as end of Bitcoin.

[BittBurger]

4. Better competitor crypto currency with some technical advantage, like speed - Could ethereum replace bitcoin?

This.  With a slight twist.  Inefficient forward-progress of Bitcoin development, innovation, and protocol enhancements.  This is my concern.

-B-

[Marlo Stanfield]

Bitcoin might stagnate and become a bit dusty over time, but a big subsection of society assign some value to it now. So even if it slowly fades away people might use it as a store of value. Like gold or silver.

[panju1]

4. Better competitor crypto currency with some technical advantage, like speed - Could ethereum replace bitcoin?

This.  With a slight twist.  Inefficient forward-progress of Bitcoin development, innovation, and protocol enhancements.  This is my concern.

-B-

Valid concern. So much money flowing into bitcoin ventures, but so little into protocol development. 

[Marlo Stanfield]

4. Better competitor crypto currency with some technical advantage, like speed - Could ethereum replace bitcoin?

This.  With a slight twist.  Inefficient forward-progress of Bitcoin development, innovation, and protocol enhancements.  This is my concern.

-B-

Valid concern. So much money flowing into bitcoin ventures, but so little into protocol development. 

It is kind of amazing that this 6 billion dollar mammoth is head together by a few overworked and underpaid people, isn't it?

[R2D221]

So to bring it all together...

0. new bug found in bitcoin core, which worries people
1. bitcoin value decreases
2. everyone rushes to spend them/convert back to Fiat
3. as prices drop miners profit gone so they abandon processing and shutdown operation
4. network becomes very susceptable to 50.1% attack
5. hacker/gloryhunter who wants to be the one to bring down bitcoin launches an attack (or anyone/any company whose interests are threatented by bitcoin success)
6. alternative cryto PoS or PoW which isn't susceptable to centralisation problems reboots the system
7. alternative is more widely spread in terms of ownership and more secure
8. off we go again

You forgot:

0. new bug found in bitcoin core, which worries people
1. commit is made fixing the bug as soon as possible

[ChuckBuck]

Bitcoin 2.0 spells the end of Bitcoin.

It's inevitable.  HTML5.  IE7,8,9,10,11,12.  Android Froyo, Gingerbread, Honeycomb, Ice Cream Sandwich, Jelly Bean, KitKat.  Windows XP, Vista, 7, 8, 9.  OSX Snow Leopard, Lion, Mountain Lion, Mavericks, Yosemite.

Bitcoin will end, it's just a matter of when the next iteration of it will be developed.  All of it's core properties intact, but with none of it's shortcomings.  Like all technology, it will evolve eventually.

[R2D221]

Bitcoin 2.0 spells the end of Bitcoin.

It's inevitable.  HTML5.  IE7,8,9,10,11,12.  Android Froyo, Gingerbread, Honeycomb, Ice Cream Sandwich, Jelly Bean, KitKat.  Windows XP, Vista, 7, 8, 9.  OSX Snow Leopard, Lion, Mountain Lion, Mavericks, Yosemite.

Bitcoin will end, it's just a matter of when the next iteration of it will be developed.  All of it's core properties intact, but with none of it's shortcomings.  Like all technology, it will evolve eventually.

We need to get to Bitcoin 1.0 first.

[9kv]

1. 50.1% attack

Read the whitepaper!

A 51% attack to double spend would be less profitable than using 51% of computational power to generate legal bitcoins.

[ChuckBuck]

Bitcoin 2.0 spells the end of Bitcoin.

It's inevitable.  HTML5.  IE7,8,9,10,11,12.  Android Froyo, Gingerbread, Honeycomb, Ice Cream Sandwich, Jelly Bean, KitKat.  Windows XP, Vista, 7, 8, 9.  OSX Snow Leopard, Lion, Mountain Lion, Mavericks, Yosemite.

Bitcoin will end, it's just a matter of when the next iteration of it will be developed.  All of it's core properties intact, but with none of it's shortcomings.  Like all technology, it will evolve eventually.

We need to get to Bitcoin 1.0 first.

Exactly.  We're effectively in Beta, as current Bitcoin Core version is 0.9.2.1.

We're in very early days, so I don't think we'll see Bitcoin's true potential for another few years.

[cyberpinoy]

Satoshi is a genius. Bitcoin is uncorruptible, unbeatable, perfection. No such as end of Bitcoin.

What spells the end one word

 D E M A N D

there si no true demand for bitcoin or any other crypto currency, thuis why the banks continue to let our escapade continue, with no real demand the value will continue to decrease. if no one has a reason to buy bitcoin other than hope its market value willincrese, no one is going to buy it. why buy something you can get for free. There a but ton of faucets, and ways around all of thier time stamps and captchas. you can solo mine crappy script coins with GPus and even CPUs and tradethem for Bitcoins.

no one ever wakes up one day and says any of the following phrases

"OOOH I want that product right there, but damn the only way to get it is buy bitcoins I guess I will buy a few just in case there is another product that comes up i can only buy with bitcoins"

"OOOH I needlike 3 of these products and WOW they are waaaay cheaper if I use bitcoins to purchase them, I will go get some bitcoins now so i can get them cheaper"

"OOOH I think today I am gonna buy some bitcoins"

"OOOH I am a huge investor I love high dollar short term profitable investment trades I am going to buy a lot of bitcoins today"


There is no real demand for bitcoin thus spells your failure you are seeking.

[dnydublin12]

1. 50.1% attack

Read the whitepaper!

A 51% attack to double spend would be less profitable than using 51% of computational power to generate legal bitcoins.

Doesn't need to be profitable. Just needs to be worth while to eliminate a competitive threat. Have a look at some of the financial institution profits... I think I read somewhere to launch such an attack would be 500 million. Its really not much in that world

[Meuh6879]

Windows XP

sorry, but in industrie ... even windows CE work very well with internal net (like canbus or I²C).
monetary system must be strong ... not new every years.

android is the same since 5 years now.
the apps that i have found ... is always here now.

and macox ? (oh hell, no...)
and apple ios ? (well ... the freeze and don't work ... iOS7 needed gun on your head)

  https://www.youtube.com/watch?v=ks-N4rI_1RU

the last one is not an industrie ... it's an hobby.
and even hobbyist are more industrial way than apple in many factories.

[ChuckBuck]

Windows XP

sorry, but in industrie ... even windows CE work very well with internal net (like canbus or I²C).
monetary system must be strong ... not new every years.

android is the same since 5 years now.
the apps that i have found ... is always here now.

and macox ? (oh hell, no...)
and apple ios ? (well ... the freeze and don't work ... iOS7 needed gun on your head)

  https://www.youtube.com/watch?v=ks-N4rI_1RU

the last one is not an industrie ... it's an hobby.
and even hobbyist are more industrial way than apple in many factories.

I'm not comparing the quality of the products or each release.  If you hate certain companies or operating systems, that's just your opinion.

Fact of the matter is, technology progresses over time, and in theory at least, the next version builds upons and improves the former.

No way can Bitcoin can stay stagnant without further development, bug fixes, and innovation.  You think someone is going to wait in a Starbucks for a single cup of coffee for 1 or 2 confirmations if they paid using their mobile phone wallet?  Especially with Apple Pay simplifying mobile pay, competing technologies have to step up.

Bitcoin is still crawling, we need it to walk, talk, and eventually run, from this Beta/Toddler phase.

[R2D221]

You think someone is going to wait in a Starbucks for a single cup of coffee for 1 or 2 confirmations if they paid using their mobile phone wallet?  Especially with Apple Pay simplifying mobile pay, competing technologies have to step up.

Bitcoin is still crawling, we need it to walk, talk, and eventually run, from this Beta/Toddler phase.

If done correctly, a merchant can accept 0-confirmation payments with no risk. In the Starbucks example, it would be way more expensive to manage a double spend attack than the price of the coffee.