Why btc will die

[homerjj]

I don't think so, i have a great belief in the market adoption in Bitcoin, just look at the news for today from Paypal, this is another huge step for Bitcoin.

Lets keep the belief!

[Atheose0]

Although almost all of your points are valid, but I didn't think BTC will die in near future. Because day by day it's popularity is increasing.

[Beliathon]

[ChuckBuck]

1, bitcoin has no value, just a piece of junk number. it has no value like currency or gold, people buy it just for speculation.

2, bitcoin is unsafe and easily be stolen. If someone buy some coins for invest, it may disappear or hacked.

3,Gov will ban it, because it is anonymous and can not be controlled. People can use btc buy illegal goods like drugs and guns,  and may not pay tax. Or terrorists will use btc to fund terrorism activities.   

4, Btc system is unsafe too, 51% attack will destroy it.

5, people does not need bitcoin, they can use dollars as well.

So I think btc will soon die.

Why Bitcoin will live:

1)Bitcoin has a value as long people buy and sell goods and services with it, companies integrate and adopt it, and exchanges still transact it

2)Bitcoin can be safe, secure, and not easily hacked if you transfer to offline, cold wallets, create backups of your wallet.dat or paper ones, and buy from trusted, secure exchanges like Coinbase.

3)Government has no reason to ban it, in fact, they're in the process of trying to find ways to regulate it.  People buy illegal goods and drugs with fiat numbering in the billions every day.  Terrorists use any sort of currency they get their hands on to fund terrorism.

4)BTC system can be secured and 51% attack avoided if more nodes are present processing transactions, and the large mines are not pointing to the larger mining pools, but rather p2pools or solo mining.

5)People want options, not everyone has a banking or checking account, or can afford Western Union fees for remittance.  People in Greece, Argentina, Asia, Africa could use something better than the currencies that their floundering economies and governments are forcing upon its people.

[thejaytiesto]

My fear is that people realize cold storage is pretty much the only safe way to keep your coins SAFE, so as a natural result if people cares enough to go and buy some BTC, what would happen is they would not spend them, just hoard them, just like no one buys groceries with Gold. In this sense, BTC would never be a currency. Having BTC in your money is a big risk. Going to a vacation and leaving your computer there (your cold storage) is a big risk. Carrying around an USB with your entire life savings is a big risk..

[franky1]

bitcoin wont die. you cant kill the blockchain. governments can try to stop exchanges, bt those are just businesses.. not bitcoin.

once people realise that bitcoin is not a business and that they should not be reliant on businesses, they will see why bitcoin is so different compared to bank notes or credit cards.

[arxwn]

My fear is that people realize cold storage is pretty much the only safe way to keep your coins SAFE, so as a natural result if people cares enough to go and buy some BTC, what would happen is they would not spend them, just hoard them, just like no one buys groceries with Gold. In this sense, BTC would never be a currency. Having BTC in your money is a big risk. Going to a vacation and leaving your computer there (your cold storage) is a big risk. Carrying around an USB with your entire life savings is a big risk..

Lending the money to a bank with minimum guarantees that they use to buy bond from governements that pay back on the own shit currency or gamble it in the stock market is perfectly logical and risk free.

[adam48]

I hope to live long bitcoin is still at least 1-5 years in the future after I collect 1000 bitcoin and I sell haha: D

[Supercrypt]

another newbie deciding here future of bitcoin

just bcoz he missed bitcoin train

[rajaukauka]

  its absolutely paranoid statement , bro

[professionalboatmisser]

I hope to live long bitcoin is still at least 1-5 years in the future after I collect 1000 bitcoin and I sell haha: D

How many do you own already? 1000 is a shit ton. What will you sell them for? USD? what if USD has crashed?

[RodeoX]

1, bitcoin has no value, just a piece of junk number. it has no value like shinny rocks and fancy paper.

2, People are unsafe and easily be stolen. If someone buy some coins for invest, they may lose it or it may get stolen.

3,Gov can't ban it, because it is anonymous and can not be controlled. People can use btc buy illegal goods like drugs and guns,  and may not pay tax. Or terrorists will use dollars to fund terrorism activities.   

4, Fiat system is unsafe too, many kinds of attack will destroy it.

5, people need bitcoin, many people can't use dollars as well.

So I think btc can't soon die.

I edited it for you. 

[Schwarzalbert]

1, bitcoin has no value, just a piece of junk number. it has no value like currency or gold, people buy it just for speculation.

2, bitcoin is unsafe and easily be stolen. If someone buy some coins for invest, it may disappear or hacked.

3,Gov will ban it, because it is anonymous and can not be controlled. People can use btc buy illegal goods like drugs and guns,  and may not pay tax. Or terrorists will use btc to fund terrorism activities.  

4, Btc system is unsafe too, 51% attack will destroy it.

5, people does not need bitcoin, they can use dollars as well.

So I think btc will soon die.

Ohhhh, yeeess! I like it when a total newbie try to philosophize about the sure death of bit coin.  No further answers needed!

[johnyj]

1, bitcoin has no value, just a piece of junk number. it has no value like currency or gold, people buy it just for speculation.

-- Value is decided by supply and demand together

2, bitcoin is unsafe and easily be stolen. If someone buy some coins for invest, it may disappear or hacked.

-- for majority of non-IT people it is true, some kind of learning is needed

3,Gov will ban it, because it is anonymous and can not be controlled. People can use btc buy illegal goods like drugs and guns,  and may not pay tax. Or terrorists will use btc to fund terrorism activities.  

-- Gov. have monopole in domestic money supply, but since bitcoin's value is very volatile and long term deflative, it will not affect monetary policy of a country, but mostly used as an anti-inflation saving medium

4, Btc system is unsafe too, 51% attack will destroy it

-- Safety is only a relative term, 51% attack won't affect your bitcoin holdings, only transactions temporarily

5, people does not need bitcoin, they can use dollars as well

-- People need some saving medium that can hedge the risk of inflation, anything that can be unlimited produced (house or gold) do not qualify as such a medium

[krodmandoon]

1, bitcoin has no value, just a piece of junk number. it has no value like currency or gold, people buy it just for speculation.

-- Value is decided by supply and demand together

2, bitcoin is unsafe and easily be stolen. If someone buy some coins for invest, it may disappear or hacked.

-- for majority of non-IT people it is true, some kind of learning is needed

3,Gov will ban it, because it is anonymous and can not be controlled. People can use btc buy illegal goods like drugs and guns,  and may not pay tax. Or terrorists will use btc to fund terrorism activities.  

-- Gov. have monopole in domestic money supply, but since bitcoin's value is very volatile and long term deflative, it will not affect monetary policy of a country, but mostly used as an anti-inflation saving medium

4, Btc system is unsafe too, 51% attack will destroy it

-- Safety is only a relative term, 51% attack won't affect your bitcoin holdings, only transactions temporarily

5, people does not need bitcoin, they can use dollars as well

-- People need some saving medium that can hedge the risk of inflation, anything that can be unlimited produced (house or gold) do not qualify as such a medium

i would let it ride but cannot. supply of gold is finite. it is one of those elements created during a super nova.

[snappa4ever]

bitcoin wont die. you cant kill the blockchain. governments can try to stop exchanges, bt those are just businesses.. not bitcoin.

once people realise that bitcoin is not a business and that they should not be reliant on businesses, they will see why bitcoin is so different compared to bank notes or credit cards.

It is, in theory, possible to "kill" the blockchain if few enough people have interest in mining, then the network could essentially "stop" however this would be very unlikely.

The fact that people have always valued bitcoin, even before exchanges people devoted a lot of resources into mining only because they saw value.

[bitllionaire]

your nickname looks really impartial
it does not worth to answer you

[grandFX]

I do not believe
btc will die.
you say btc will die, because price goes down btc?

[mezmerizer9]

1, bitcoin has no value, just a piece of junk number. it has no value like currency or gold, people buy it just for speculation.

2, bitcoin is unsafe and easily be stolen. If someone buy some coins for invest, it may disappear or hacked.

3,Gov will ban it, because it is anonymous and can not be controlled. People can use btc buy illegal goods like drugs and guns,  and may not pay tax. Or terrorists will use btc to fund terrorism activities.   

4, Btc system is unsafe too, 51% attack will destroy it.

5, people does not need bitcoin, they can use dollars as well.

So I think btc will soon die.

You are not the first and won't be the last one who says something like this.

[DuncanManagement]

Bitcoin DOES have value, just like the dollar does. We give it value, are you dense? If many people say "yes, this is worth money" we give it value. THATS how it works. So that's a horrible first point. The government wont ban it because it CANT. It may become discouraged, but they cant ban it. How would they even do that.