What if Bitcoin Fails ?

[Sir Legend]

Many people think that bitcoin technology can be hacked and the fact that until now this has not been proven, but I'm never a fan of saying that bitcoin is the best and can last for a long time, in my opinion if bitcoin still lasts for another 15 years of course it is great achievement of this century, and I believe that one day there will be a technology that can replace bitcoin.

[1713442933]

1713442933

[mindrust]

Bitcoin won't fail. Billions of dollars are at risk now. Big institutions, big billionaires, even the government people... they won't let it fail. Every day bitcoin don't fail, it becomes stronger. The stronger it becomes, the closer it gets replacing the current FIAT system. The moment the FIAT people realize the threat, it will be already too late.

[lixer]

Bitcoin will not fail. It is a very young currency, and many new features are being built into it that makes it better than ever. Just like the internet is the underlying technology that powers the entire internet, the blockchain is the underlying technology that powers bitcoin. Other forms of digital currency are being built on the blockchain. All of these will continue to grow and expand and become more widespread. The blockchain, unrestricted by being tied to any one digital currency, will continue to grow as well.

Bitcoin and blockchain are not the same. Bitcoin is a currency that makes use of blockchain while blockchain is the technology that powers the transaction. Anyways the both of them are new and the world is getting to know about these new technologies and how to make use of them in a way that they would benefit the world.  And of course there is nothing like failure for any of these.

Blockchain on its own is very useful and is believe that it would power a lot of things in the future and not just transactions. Bitcoin too is also useful and so far it has been the truly decentralized cryptocurrency that we know.

[redsun114]

Then humanity needs another savior. We are ruled by a bunch of elites at the top calling themselves politicians, and long long time ago people forgot that politicians are people we elect to represent us, and started to imagine they are the betters of us, they somehow turned elections into picking our rulers instead of our voices.

This is why we need bitcoin right now, those politicians will burn a whole nation down if it means it will benefit them, and there is nothing you can do about it because there are people who will vote for them if they burn it into the ground while saying the things they want to hear. Bitcoin is not just economical, it is also political for me.

[crypver]

As long as the inflation thrives the existence of cryptos is ensured.

The only alternative is Gold but Gold with its unfair spreads (10-20%) has no chance. Sure they are alternatives like Aurupay.com without spreads but their Gold is digital. If you want to hold this Gold in your hands you have to initiate a delivery which costs about 25$. So you pay more or less on another way, but for bigger Gold deliveries its a cheap choice.

[rby]

Bitcoin didn’t exist before and we were able still to do transactions via bank or p2p. If bitcoin fails we will only go back in older method of transactions as well of investing. For some people, they are still nt aware of Bitcoin existence especially those people leave in 3rd world country so it will not bother them , only those who already know crypto will be affected but soon we know that there will be new inventions or method that might be alike in crypto if ever bitcoin fails.

But this is just what if and there's no way a Billion dollar marketcap will gonna fail because its already working and being used by millions. Technically if Bitcoin fails then most of the blockchain project fails because Bitcoin existence is rely only on the blockchain technology. Without blockchain, Bitcoin is just a normal cryptocurrency.

Many people especially in 3rd world countries who do not know about bitcoin is still alive and existing and before bitcoin we were existing. If bitcoin fails it will only affect bitcoiners very well and according to you another technology that will work like bitcoin will emerge, so there is nothing to fear about if bitcoin fails.

Are you saying that if bitcoin fails, blockchain will fail together with bitcoin? I think OP is saying if bitcoin fails and altcoins don't fail. Which I think doesn't really go well. Because bitcoin can only fail if blockchain fails.

[adzino]

You mean if crypto currencies fail, because there are also other crypto currencies that can achieve the same (privacy, decentralization and all those stuffs). But yeah, if bitcoin fails, the whole crypto market will fail, hence all the points you states automatically becomes valid.
Bit confused, what Bitcoin has to do with energy? I mean the transition of energy you are talking about.

Bitcoin will not fail. It is a very young currency, and many new features are being built into it that makes it better than ever. Just like the internet is the underlying technology that powers the entire internet, the blockchain is the underlying technology that powers bitcoin. Other forms of digital currency are being built on the blockchain. All of these will continue to grow and expand and become more widespread. The blockchain, unrestricted by being tied to any one digital currency, will continue to grow as well.

Lol what new features are being built? Most of the things you said doesn't make any sense or you are contradicting your own self.

[kramat]

Bitcoin is never fall. Some time price will be go down. But it never fall. Bitcoin is any time to up and down. It not easy guess the price. If it demand in mark place that time price will be increase. If available in market place price will be go down. So if need for the information check the marketplace price day by day. Them easy to handle the bitcoins.

[molsewid]

Bitcoin is never fall. Some time price will be go down. But it never fall. Bitcoin is any time to up and down. It not easy guess the price. If it demand in mark place that time price will be increase. If available in market place price will be go down. So if need for the information check the marketplace price day by day. Them easy to handle the bitcoins.

I have seen a lot of times that the price of bitcoin is falling however I haven't seen cryptocurrency failing because once bitcoin fails we can expect that crypto may fails too. For me, crypto market keeps going stronger than it was before and the most amazing thing happen is that there are many people knows about cryptocurrencies and there are already countries which accepts cryptocurrency especially bitcoin and that's already a great indication that bitcoin will not fail.

[Argoo]

Bitcoin can’t fail. It has already succeeded. Blockchain technology is out of the bag and people have a new way of fighting financial oppression in the digital age. So even if Bitcoin’s price goes to zero, it will not be a failure.

Though technology is the main objective why Bitcoin is succeed, but I don't think Bitcoin will survive if the price goes to zero. That's mean no one is interested with Bitcoin anymore and no one is using Bitcoin for anything, not even enough to buy a candy. However I tend to agree Bitcoin can't fail, even there's a new currency with better technology to compete Bitcoin, at least Bitcoin's price will decrease but goes to zero.

Is bitcoin identified here with all cryptocurrencies? If not, then we forget that there are many more altcoins, and some of them have pretty good features to become a means of payment. At the same time, bitcoin has not become a common payment method because the vast majority prefer to expect a significant increase in its price. At the same time, this is what increases the demand for bitcoin. There are two main possible scenarios here, and both of them are not in favor of bitcoin. Either the price of bitcoin will continue to grow for a long time (which I doubt) and then bitcoin will never become a common means of payment, or at a certain stage its price growth will stop, after which it will fall sharply in price to the level of the rest of the cryptocurrency.
Whatever happens to bitcoin, the cryptocurrency will continue to evolve.

[alisonwonder]

Many people think that bitcoin technology can be hacked and the fact that until now this has not been proven, but I'm never a fan of saying that bitcoin is the best and can last for a long time, in my opinion if bitcoin still lasts for another 15 years of course it is great achievement of this century, and I believe that one day there will be a technology that can replace bitcoin.

Why should it take another 15 years to determine the reputation of cryptocurrencies, obviously bitcoin can last forever as long as there is demand and supply, don't forget that cryptocurrencies are legal in many countries and even El Salvador has legalized Bitcoin as a legal payment currency.

[Cookdata]

Some comments above are very dissatisfying with how some members have been here for a long period of time, I mean at this stage of bitcoin, do you need more years to define the success of bitcoin? Common! That's the old fashion statement Thomas was using and they have all become bitcoin maxist.
There is this quote from satoshi that says:

“If you don't believe it or don't get it, I don't have the time to try to convince you, sorry.”

Source:- https://quotefancy.com/quote/1792582/Satoshi-Nakamoto-If-you-don-t-believe-it-or-don-t-get-it-I-don-t-have-the-time-to-try-to

If by 2022 and anyone still doubts the bitcoin journey, there is nothing we can do for them, believe it or continue to save up your paper money until inflation ruins everything about you.

[maartenhaha]

if bitcoin fails then all alcoins also fail and disappear bitcoin is the king of other alcoins all alcoins depend on bitcoin when the bitcoin price goes up then alcoin also goes up if bitcoin goes down the alcoin price also goes down, in my opinion if bitcoin fails then crypto currency will also be lost.