Is bitcoin dead?

[Bralex]

BITCOIN IS NOT DEAD ... it's just being born...

JUST GOING THROUGH THE TROUBLES...

This is close i would describe it as being a toddler just learning to walk and bumping into things banging it's head taking a fall and getting back up.

Soon he grows into a teenager i wonder what that has in stall lol

Either way not dying still has plenty of life in it more than most of us 

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[Amph]

One question. Bitcoin could theoretically die if its price goes too low right? Because mining would be not profitable anymore, without mining there would be no transactions and that would be the end, am i wrong or am i right

than this mean that bitcoin was dead when "he" was born

no i think that even after the situation you described, bitcoin would be still alive, i do think that bitcoin can't actually die, but at worst be forgotten

[specgamer]

I think bitcoin will not die any time soon, because there are people like us who still believe in it.

[specgamer]

Simple answer: NO, or not yet
The year 2015 has been very rough for bitcoins. From a price of $314 per coin on New Year’s Day it slumped 43 per cent to a low of $177.
Mt. Gox, the world's largest bitcoin exchange, suddenly announced that hundreds of millions of dollars worth of bitcoins were stolen last month. This isn't the only one. But I believe in the future bitcoin and other cryptocurrency will still have a prominence and potential to "rebound" back into the economy.

[ndnh]

Q. Is bitcoin dead?

A. Am I dead?

[kitarohotono]

Simple answer: NO, or not yet
The year 2015 has been very rough for bitcoins. From a price of $314 per coin on New Year’s Day it slumped 43 per cent to a low of $177.
Mt. Gox, the world's largest bitcoin exchange, suddenly announced that hundreds of millions of dollars worth of bitcoins were stolen last month. This isn't the only one. But I believe in the future bitcoin and other cryptocurrency will still have a prominence and potential to "rebound" back into the economy.

I believe gox trading soon back online and price going up again

[Bardman]

One question. Bitcoin could theoretically die if its price goes too low right? Because mining would be not profitable anymore, without mining there would be no transactions and that would be the end, am i wrong or am i right

Go back to Bitcoin 101 class.

As miners exit, the difficulty drops, so one earns more coins with the same computing power. There is always an equilibrium point above 0 miners.

Even if miners earn more coins theoretically if pretty much all the miners stopped mining bitcoin would die

[iamback]

One question. Bitcoin could theoretically die if its price goes too low right? Because mining would be not profitable anymore, without mining there would be no transactions and that would be the end, am i wrong or am i right

Go back to Bitcoin 101 class.

As miners exit, the difficulty drops, so one earns more coins with the same computing power. There is always an equilibrium point above 0 miners.

Even if miners earn more coins theoretically if pretty much all the miners stopped mining bitcoin would die

If would not die for the unprofitability of mining, which was your original logic, because the difficulty would drop until those miners felt it was profitable to continue mining (unless this demand price level fell below 1 Satoshi per BTC). It would only die if trust and usership fell below some critical level, where no one would bother receiving it because they didn't think they could (within a reasonable cost of time and effort) find someone to sell it. IMO the likelihood of that is nil, because there are some reasonably popular nefarious things that you can do with Bitcoin that you can not do any other way. Also the speculative demand will fall to more realistic appraisals of its future value, but that is not 0.

We are in the process of exhaling all the false speculative demand based on selling fanboys on the "its going to the moon, $1 million / BTC fantasies". We will find a solid bottom somewhere at or below $150, but not $10.

[dothebeats]

One question. Bitcoin could theoretically die if its price goes too low right? Because mining would be not profitable anymore, without mining there would be no transactions and that would be the end, am i wrong or am i right

Remember when the price of bitcoin is at $1? No? Mining wouldn't be profitable, but the network may live on because it still has value and it can still thrive.

[dothebeats]

One question. Bitcoin could theoretically die if its price goes too low right? Because mining would be not profitable anymore, without mining there would be no transactions and that would be the end, am i wrong or am i right

Go back to Bitcoin 101 class.

As miners exit, the difficulty drops, so one earns more coins with the same computing power. There is always an equilibrium point above 0 miners.

Even if miners earn more coins theoretically if pretty much all the miners stopped mining bitcoin would die

If would not die for the unprofitability of mining, which was your original logic, because the difficulty would drop until those miners felt it was profitable to continue mining (unless this demand price level fell below 1 Satoshi per BTC). It would only die if trust and usership fell below some critical level, where no one would bother receiving it because they didn't think they could (within a reasonable cost of time and effort) find someone to sell it. IMO the likelihood of that is nil, because there are some reasonably popular nefarious things that you can do with Bitcoin that you can not do any other way. Also the speculative demand will fall to more realistic appraisals of its future value, but that is not 0.

We are in the process of exhaling all the false speculative demand based on selling fanboys on the "its going to the moon, $1 million / BTC fantasies". We will find a solid bottom somewhere at or below $150, but not $10.

Moon fanboys will always exist, speculating lucrative (but possible) prices that are very far-fetched in the current time-frame. We can not blame them though, believing into their own idealism and logic that somehow it will go to the moon, but apparently there are no easy ways to reach the moon. Correction will always be there, and it's part of the roller coaster ride.

[BillyBobZorton]

One question. Bitcoin could theoretically die if its price goes too low right? Because mining would be not profitable anymore, without mining there would be no transactions and that would be the end, am i wrong or am i right

Remember when the price of bitcoin is at $1? No? Mining wouldn't be profitable, but the network may live on because it still has value and it can still thrive.

Mining is always profitable if the miner has a long term view on it, of course the main problem is paying the monthly electricity bills.

[tss]

yes bitcoin is dead, a lot of mortuaries now willing to take care of it for you.

[Bonam]

Simple answer: NO, or not yet
The year 2015 has been very rough for bitcoins. From a price of $314 per coin on New Year’s Day it slumped 43 per cent to a low of $177.
Mt. Gox, the world's largest bitcoin exchange, suddenly announced that hundreds of millions of dollars worth of bitcoins were stolen last month. This isn't the only one. But I believe in the future bitcoin and other cryptocurrency will still have a prominence and potential to "rebound" back into the economy.

Really? Gox? Last month? That was like a year and a half ago, not last month, can't keep blaming stuff on Gox forever. Unfortunately, Mt. Gox was not the only scam... from my experience, the overwhelming majority of bitcoin-related businesses are scams, frauds, failures, etc. And, given that this is unlikely to change, it will continue to be a major problem with the bitcoin economy.

[gentlemand]

Really? Gox? Last month? That was like a year and a half ago, not last month, can't keep blaming stuff on Gox forever. Unfortunately, Mt. Gox was not the only scam... from my experience, the overwhelming majority of bitcoin-related businesses are scams, frauds, failures, etc. And, given that this is unlikely to change, it will continue to be a major problem with bitcoin.

The tide is turning slowly. Sometime during this year there'll be multiple exchanges that are run properly by legit people.

As for the business side of things, it's disheartening to see people still fall for the same old shit over and over again. I don't have much sympathy for those who pile in but hopefully some mass wisdom will develop.

[BillyBobZorton]

I think it is.

Bitcoin use adoption has stalled. Media interest has dissipated. Prices have only slowly continued to decline for a long time now. Bitcoin securities have always been and still are a complete mess, with a near 100% failure (scam/fraud/incompetence/etc) rate. Mining has been concentrated in the hands of a few giant players, eliminating much of the advantage/security/democracy of thousands of individuals being the money processors. Alternative forms of online payment with US dollars (and other fiat currencies) are now cheaper, faster, and more secure than bitcoin (and of course far more usable to buy/sell real goods/services), eliminating any of its advantages as a payment system. Continued decline of bitcoin and strength in fiat currencies has put the lie to the idea of bitcoin as a store of value; there are far better more reliable hedges against inflation. Meanwhile the real economy is firing on all cylinders, stock markets are at all time highs, corporate earnings are higher than ever, unemployment is low, etc. Even amid the boom, no one cares about bitcoin any more. Bitcoin was a fad that lasted a few years, and is now on its way to being forgotten.

Thoughts? Anyone seriously disagree with this conclusion?

Do you even check the news?

http://www.ibtimes.com/21-inc-secret-bitcoin-startup-raises-116m-latest-funding-round-1842374

You need to recheck your assumptions.

[AtheistAKASaneBrain]

One question. Bitcoin could theoretically die if its price goes too low right? Because mining would be not profitable anymore, without mining there would be no transactions and that would be the end, am i wrong or am i right

Go back to Bitcoin 101 class.

As miners exit, the difficulty drops, so one earns more coins with the same computing power. There is always an equilibrium point above 0 miners.

This. The cake is always nicely distributed. I don't get all these "oh if the price falls it's not profitable for miners". Yes it is, there's always someone that profits from it.

[RodeoX]

Bitcoin is dead when there is only 1 user left on the planet. With two users it would be a damn small network, but a working network none the less. I'll never stop using it. Can I get a second user for life?

[tee-rex]

Bitcoin is dead when there is only 1 user left on the planet. With two users it would be a damn small network, but a working network none the less. I'll never stop using it. Can I get a second user for life?

To have a working network you don't need to have more than 1 user left. Also, there are a lot faucets that would work even if there is only 1 user left on the planet, or none at all (bitcoin zombie world of sorts).

[Bralex]

This question is usually left to the newbies not a sr, have you just brought that account or did you forget to create a shill 

Bitcoin is dead when no new money comes in to it, no development, no more transactions, investments the price does not really matter in the scheme of things only to those that are in for a quick buck.

Cheers up op you sound so gloomy

[networthsigns]

Bitcoin is dead when there is only 1 user left on the planet. With two users it would be a damn small network, but a working network none the less. I'll never stop using it. Can I get a second user for life?

Hell yeh i am that second user for life buddy but you never needed it because as long as it was/is alive to you and you are the only user then it is still technically alive even if that is only to you. I love these death threads for a afternoon giggle...