Bitcoin eventually disappear... - page 9.

basyang

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Quote from: Agraoleom on October 02, 2017, 02:46:36 PM

There will be a fixed number if Bitcoins, and people, because of human error, will accidentally lose Bitcoins every now and then.

This must mean that Bitcoin will eventually seize to exist? Or at least shrink to minimal amounts, when it shrinks to a certain level, it will no longer be useful.

Is this correct?

Personally, I am sick of reading that bitcoin will die and disappear. Why? its because Bitcoin is in downfall now. They are like that when the bitcoin price is down they always says that bitcoin will vanish away but when bitcoin price in the market is high this opinion ot topic suddenly disappear. Bitcoin is running for ten years so I bleieve it will not disappear or died just like what you think.

akram143

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★777Coin.com★ Fun BTC Casino!

Quote from: Silberman on November 07, 2018, 01:30:34 PM

Quote from: Agraoleom on October 02, 2017, 02:46:36 PM

There will be a fixed number if Bitcoins, and people, because of human error, will accidentally lose Bitcoins every now and then.

This must mean that Bitcoin will eventually seize to exist? Or at least shrink to minimal amounts, when it shrinks to a certain level, it will no longer be useful.

Is this correct?

That is not correct for several reasons, to begin with satoshi knew of this and stated that lost coins should be seen as a small contribution to the rest of the people that are holding bitcoin, that those bitcoins are lost makes the rest of our coins even more valuable, and finally even if the chance is very low those coins are not completely lost because there is a chance that in the future a person may generate exactly the same private key and could recover those lost coins.

Why people are saying Bitcoin will die soon from the previous past years there is a big hope from the people will be given to the same cryptocurrency but in single year there is a big changes in the minds of the investors but this is not a dog with kind for my opinion and it will be definitely came to the normal level soon and hoping to be it works.

Silberman

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Quote from: Agraoleom on October 02, 2017, 02:46:36 PM

There will be a fixed number if Bitcoins, and people, because of human error, will accidentally lose Bitcoins every now and then.

This must mean that Bitcoin will eventually seize to exist? Or at least shrink to minimal amounts, when it shrinks to a certain level, it will no longer be useful.

Is this correct?

That is not correct for several reasons, to begin with satoshi knew of this and stated that lost coins should be seen as a small contribution to the rest of the people that are holding bitcoin, that those bitcoins are lost makes the rest of our coins even more valuable, and finally even if the chance is very low those coins are not completely lost because there is a chance that in the future a person may generate exactly the same private key and could recover those lost coins.

ongkok87

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Quote from: Douglasyukanov on November 06, 2018, 08:03:25 AM

Bitcoin can be lost if users cannot use their Bitcoin wisely, sometimes they are negligent in storing private keys.
loss in the form of price volumes also has an effect
for bitcoin holders.

it is true because if there are no users and those who are interested, then the bitcoin can be lost, but if there are still users then the bitcoin will definitely be there at any time while there are still those who use it. because bitcoin depends on the interest and users

RockHenki

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I'm not sure whether bitcoin exists forever or not, but I think virtual currency is gradually evolving so in my opinion bitcoin can not disappear. It is growing more and more in the future, how can it disappear right? More and more people are entering the technology, the bitcoin becomes essentially not losing as much as the real money.

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Quote from: MFahad on November 06, 2018, 08:08:28 AM

Quote from: mensahkkofie on November 06, 2018, 07:08:10 AM

There is nothing like disappearance in the world of blockchain technology. Bitcoin has come to stay and the best is still yet to come. In economics, when a commodity is in short supply, the price obviously goes up and this has always been the case in every society and this can easily be applied in crypto too.

Many people are saying this for last few years that bitcoin is a bubble and it will be disappeared sooner or later. I would like to tell you that it can never happen. Blockhain technology and bitcoin itself will stay here and eventually be able to replace the fiat currencies.

indeed there are many who speak like that, including finance minister in my country. this can indeed hinder development of bitcoin, because many investors are finally afraid to invest, because of attitude of government. and until now this fear has not been proven

MFahad

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Quote from: mensahkkofie on November 06, 2018, 07:08:10 AM

There is nothing like disappearance in the world of blockchain technology. Bitcoin has come to stay and the best is still yet to come. In economics, when a commodity is in short supply, the price obviously goes up and this has always been the case in every society and this can easily be applied in crypto too.

Many people are saying this for last few years that bitcoin is a bubble and it will be disappeared sooner or later. I would like to tell you that it can never happen. Blockhain technology and bitcoin itself will stay here and eventually be able to replace the fiat currencies.

Douglasyukanov

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Bitcoin can be lost if users cannot use their Bitcoin wisely, sometimes they are negligent in storing private keys.
loss in the form of price volumes also has an effect
for bitcoin holders.

UchihaRukawa

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Bitcoin will only stop having value when the cryptocommunity doesn't support it anymore, but I think, if the people would still buy and hold bitcoin then I think it wouldnt lose its value. Now that Bitcoin is on a down trend or I can say in a stagnant state, peole are starting to invest in other coins but there are still lots of people patronizing bitcoin.

dawai asmara

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Quote from: mensahkkofie on November 06, 2018, 07:08:10 AM

There is nothing like disappearance in the world of blockchain technology. Bitcoin has come to stay and the best is still yet to come. In economics, when a commodity is in short supply, the price obviously goes up and this has always been the case in every society and this can easily be applied in crypto too.

like items, the fewer items, the more sought-after and more expensive so the fewer Bitcoin supplies, the more valuable Bitcoin.

it is true that the possibility of Bitcoin will run out, but the team must have anticipated that, they have their own way of dealing with it. maybe BCH can be an imitation of Bitcoin or Bitcoin is changed to BCH. only a different name but the quality is the same.

mensahkkofie

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There is nothing like disappearance in the world of blockchain technology. Bitcoin has come to stay and the best is still yet to come. In economics, when a commodity is in short supply, the price obviously goes up and this has always been the case in every society and this can easily be applied in crypto too.

nambunamba

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Quote from: Iranus on October 02, 2017, 04:43:24 PM

Well you posted this in the "Economics" section, so let's make this about economics.

People have an amount of BTC. The higher the value of their BTC, the more likely they are to keep it in safe locations or spread it between different places. So the chance of them losing their BTC decreases exponentially as the price rises.

If they lose BTC, the supply decreases, therefore making the remaining BTC supply (marginally) more valuable and making people less likely to lose it. So it never reaches a point at which there's not enough left.

So basically, no. It's impossible.

Yes i do think bitcoin has a certain value but lets talk about development and the use of the bitcoins, do you think bitcoin still have a good project compared to others? i think XLM and ripple have a better development in terms of transactions projects and also there is a lot of new stable coins for crypto trading pairs. I do think bitcoins will remains but in terms of developments and investments there is a lot of coins that offers same project with more advantages than bitcoin.

Cherylstar86

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Quote from: $anounimus$ on November 06, 2018, 03:50:34 AM

it seems that it will take a very long time to be able to delete bitcoin from the earth and that is also very difficult because when in the world it still has internet and still has electricity resources, the bitcoin will still be circulating and will still be used.

Bitcoin has already made wave and noise from across the world. It has changed the lives of many and in bringing quality of life. The evolution of technology can have a very big impact in the growth and continued innovation of Bitcoin. It has already gained trust from the public and can potentially soar higher as its demand is tremendously increasing.

jeniferqueen0409

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Quote from: Adhichan on November 06, 2018, 04:07:24 AM

Quote from: $anounimus$ on November 06, 2018, 03:50:34 AM

it seems that it will take a very long time to be able to delete bitcoin from the earth and that is also very difficult because when in the world it still has internet and still has electricity resources, the bitcoin will still be circulating and will still be used.

to make bitcoin die i think this is impossible things to do.bitcoin and blockchain technology already give huge benefits for developtmen technology in digital currency.

No one can make the dead bitcoin except for a better absolute foundation born, replaced and accepted all over the world.This is impossible in the next few decades.

Adhichan

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Quote from: $anounimus$ on November 06, 2018, 03:50:34 AM

it seems that it will take a very long time to be able to delete bitcoin from the earth and that is also very difficult because when in the world it still has internet and still has electricity resources, the bitcoin will still be circulating and will still be used.

to make bitcoin die i think this is impossible things to do.bitcoin and blockchain technology already give huge benefits for developtmen technology in digital currency.

$anounimus$

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it seems that it will take a very long time to be able to delete bitcoin from the earth and that is also very difficult because when in the world it still has internet and still has electricity resources, the bitcoin will still be circulating and will still be used.

Nnedaddy1

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I disagree with you on that.
Bitcoin can never disappear not any time soon.
Bitcoin is just at it's early developmental stage with lots of inconsistentences and movements, I understand your sentiment.
Be rest assured that Bitcoin has come to stay.

randyg29

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I don't think it will happened many people will still use it because they now how useful it was in our economy and our community. And I think more people will come and support the growing community of bitcoin once it get back the stable value in the market.

senin

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Quote from: AlexKr on October 11, 2018, 12:08:36 PM

In the end, we all disappear. There is nothing eternal. I do not think that BTC will disappear in the near future.

Just because bitcoin does not disappear. There must be good reasons for this. Despite the fact that by this time, due to various reasons, more than six million bitcoins have been lost, they will be enough for everyone. It all depends on what price you want to pay for Bitcoin.
In addition, now there are a lot of promising coins and tokens, this will weaken the demand for Bitcoin, over time it will become a coin for making very large transactions.

kidoseagle0312

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Quote from: Agraoleom on October 02, 2017, 02:46:36 PM

There will be a fixed number if Bitcoins, and people, because of human error, will accidentally lose Bitcoins every now and then.

This must mean that Bitcoin will eventually seize to exist? Or at least shrink to minimal amounts, when it shrinks to a certain level, it will no longer be useful.

Is this correct?

Bitcoin will only be gone if all bitcoin believers will stop using it. However the total supply of bitcoin was fixed which is your right in the matter anyway. But since the market now was not in good scenario it doesn't mean that bitcoin will be disappear in my opinion only.

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