Is bitcoin dead?

[Bardman]

It is not dead, not even close. On the other hand the price is lower than we expected. That is a big problem. It should have been near 300-350$ now.

Then again people who just care about price dont know anything, it´s not about the price, it´s about the stability and whether bitcoins can be used for something useful or not

Tbh i don't care about price for myself, i am worrying about poor miners. That is all. I don't stay in btc, i always stay in fiat. I use btc when i need to. Hoping to clear this up.

It´s always going to be a balance, if the price is too low miners leave and the difficulty goes down and viceversa

If prices went too low, the small miners who have slower hardware will leave, and the big mining farms will dominate the mining scene. That's how it works today. Bitcoin will never reach a state of equilibrium simply because of the centralization of mining (big mining farms) and the small miners, whales in the market, small buyers in the market and whatnot. You can never expect balance in a state of chaos.

How is that any different from what i said? I said miners will leave, didnt you read ?

[1715026793]

1715026793

[dothebeats]

It is not dead, not even close. On the other hand the price is lower than we expected. That is a big problem. It should have been near 300-350$ now.

Then again people who just care about price dont know anything, it´s not about the price, it´s about the stability and whether bitcoins can be used for something useful or not

Tbh i don't care about price for myself, i am worrying about poor miners. That is all. I don't stay in btc, i always stay in fiat. I use btc when i need to. Hoping to clear this up.

It´s always going to be a balance, if the price is too low miners leave and the difficulty goes down and viceversa

If prices went too low, the small miners who have slower hardware will leave, and the big mining farms will dominate the mining scene. That's how it works today. Bitcoin will never reach a state of equilibrium simply because of the centralization of mining (big mining farms) and the small miners, whales in the market, small buyers in the market and whatnot. You can never expect balance in a state of chaos.

How is that any different from what i said? I said miners will leave, didnt you read ?

But not all of them, that's why I made some differentiation. Generalizing that miners will leave is wrong, as the big farms would likely stay because they will find profit compared to small miners that will leave the scene because maintaining the miner + electricity costs > profit. Hope you got my point.

[Bardman]

It is not dead, not even close. On the other hand the price is lower than we expected. That is a big problem. It should have been near 300-350$ now.

Then again people who just care about price dont know anything, it´s not about the price, it´s about the stability and whether bitcoins can be used for something useful or not

Tbh i don't care about price for myself, i am worrying about poor miners. That is all. I don't stay in btc, i always stay in fiat. I use btc when i need to. Hoping to clear this up.

It´s always going to be a balance, if the price is too low miners leave and the difficulty goes down and viceversa

If prices went too low, the small miners who have slower hardware will leave, and the big mining farms will dominate the mining scene. That's how it works today. Bitcoin will never reach a state of equilibrium simply because of the centralization of mining (big mining farms) and the small miners, whales in the market, small buyers in the market and whatnot. You can never expect balance in a state of chaos.

How is that any different from what i said? I said miners will leave, didnt you read ?

But not all of them, that's why I made some differentiation. Generalizing that miners will leave is wrong, as the big farms would likely stay because they will find profit compared to small miners that will leave the scene because maintaining the miner + electricity costs > profit. Hope you got my point.

Anyways dont most miners now work in groups? In really big groups, there are not many small miners anyways right? The difficulty is so high that it´s just not worth it, you need insane mining rigs to make it work

[dothebeats]

Anyways dont most miners now work in groups? In really big groups, there are not many small miners anyways right? The difficulty is so high that it´s just not worth it, you need insane mining rigs to make it work

Most miners work in a pool, if that's what you're referring to. There are still small players joining a pool in order to get a share of the pie, but due to the decrease in price, some of them are forced to shut down their miners because it's not even worth it anymore. The big mining farms, however, are mostly situated in China. One of them is here: https://bitcointalk.org/index.php?topic=1072474.0

[kostya.ash]

It is not dead, not even close. On the other hand the price is lower than we expected. That is a big problem. It should have been near 300-350$ now.

bitcoin will not die, but maybe the price is declining

[umair01]

It is not dead, not even close. On the other hand the price is lower than we expected. That is a big problem. It should have been near 300-350$ now.

bitcoin will not die, but maybe the price is declining

thats the problem its now declining at the moment , and its not a good sign , hopefully it will bounce back , at least until $300 value so it could be much safer

[bitcollins85]

Bitcoin is not dead . the things are moving forward, but it will not happen overnight, no world changing invention was developed in a single year, and it may be years yet before Bitcoin is ready for mass adoption and use.

[matrix zion]

Bitcoin has died 72 times

http://bitcoinobituaries.com/

[Oscilson]

Bitcoin has died 72 times

http://bitcoinobituaries.com/

BTC has rumoured to be many times.

[umair01]

Bitcoin has died 72 times

http://bitcoinobituaries.com/

wow , who ever posted those , doesn't seem to really like bitcoin haha ... I checked and yes as u said , many times bitcoin is dead on his posts

[XY_Z]

Well, the media can't be interested in it forever, right? I think it's still going strong, there are tons of people using it and remember, Bitcoin has only been around for 5 years, it's still starting-up.

[Dotakels]

Well, the media can't be interested in it forever, right? I think it's still going strong, there are tons of people using it and remember, Bitcoin has only been around for 5 years, it's still starting-up.

yeah and the total number of people who using bitcoin is still going up and up in succeeding days. So its means they say it because they not really like bitcoin because they think on its negative effect not on its positives effect.

[Abiky]

Well, considering the fact that Bitcoin's price is going downward, that might be a reason that it is dying. This is all Bitcoin XT's fault. Just my opinion, though 

[Shinpako09]

of course not..the price is $224 and still thats a lot although that is low compare to $300-1000..Bitcoin won't die..last february the price fall into $180 and goes up again.

[zero01]

maybe end of 2015 bitcoin dead

I hope it will not happen, maybe if bitcoin dead, is very difficult to find $ in addition to the investment, I hope bitcoin will not be ending up in the end-year

[klf]

Bitcoin is only as dead or alive as it is being used.  I think we're in that quiet time before another meager rise.  Or it could be a much larger rise.

[Dotakels]

maybe end of 2015 bitcoin dead

I hope it will not happen, maybe if bitcoin dead, is very difficult to find $ in addition to the investment, I hope bitcoin will not be ending up in the end-year

don't make an interest on this reply, if bitcoin end in this year 1 will give you btc if not ignore this reply and this user, he is not true bitcoiner he wish that bitcoin died, and he have not a prove that bitcoin will die in end of this year.

[andysbizz]

No I do not think so, now BTC is definitely not dead

[Oscilson]

If bitcoin drops below $10 for long period, it can be regarded as dead. Otherwise, it is well.

[Shadough]

bitcoin is still standing strong why consider it dead though