Topic: Bitcoin IS basically DESTROYED - page 4. (Read 47260 times)

Exactly. We jave to remember the bitcoin in the first place is a peer to peer type of technology so a certain group can manuever it yet cannot destroy it. Chinese government is taking actions with regards to chinese fsrmers which is i think a gopd time for common miners to perform better.

China having more mining farms doesnot mean that bitcoin will be destroyed.It has helped a little bit to chinese gamblers and chinese exchanges to try dump the bitcoin price.But it would not continue anymore since bitcoin holders have increased globally and dragon has nothing to do with bitcoin control.

I think nah, bitcoin can't be destroyed... Because bitcoin life is depends at the people when no more people are holding bitcoin then the bitcoin will destroyed. but as long as bitcoin is not yet in that it will not destroyed and that is beyond impossible too.

Bitcoin wouldn't be destroy as long as there are people who believes into bitcoin, patronizing it continuously, and giving it a value also. and if the price value is getting drain into zero, but thats not what is happening in the actual moment of time now. Moreover there are other investors are investing into bitcoin maybe its because it is trend nowadays.

Despite the big downturns recently, we're still at a higher price than the beginning of the month, which is a good sign to me.

Despite the fact that we do not want to believe in this statement, we need to be objective. We can all observe from the beginning of the year that bitcoin is growing or falling. With negative news from China - the price goes down. So China still has a strong influence on bitcoin

yes there is no doubt about that fact that bitcoin is the number one currency of the world and hope that in future it will continue bitcoin as number online currency of the world.

yes instead of bitcoin s becoming more and more stronger as time pass. so how can we believe that bitcoin is basically destroyed. i also think that it is false statement.

There is a popular saying that the one who pays the piper determines its tune. It China is allowed to be the one paying the piper, so enough they would be the ones calling the shots what happens to Bitcoin. Can the Chinese be trusted to manage such power with reinventing  "common, universal"?

They have to sell to pay their bills....And, as each halving mark is reached, they will have to sell larger percentages of their block rewards to keep up....mining isn't free!  And, as its utility to act as a means of exchange decreases with increased TX fees, its demand will also decrease, right?

Well I honestly believed that this a real false statement where bitcoin is 70% destroyed, you've got to be kidding me. Now is almost 2017 and the price value was almost 1200$, is this the kind that bitcoin is basically destroy. Though the volatility is being happened in the ecosystem in the market but still remained closed at the price of bitcoin not reaching below 1200$.

In my opinion, it does not matter who mines most... if they don't sell, and folks seeks for it then price will go up. That doesn't sound "destroyed" for me.

Rank speaks for itself. haha. Dont be surprised since its actually a normal thing for newbies but they should study hard.lol

So you must be new. 

Well yes bitcoin is almost destroyed. A lot of bitcoin owners are having problems regarding those miners. One by one their hard earned bitcoin is being stolen.

I don't know why or what are you thinking about Bitcoin having an impending doom with its future. But what I am seeing is that it is still on its growth stage and every now and then a halving will happen therefore making it hard for miners to get more Bitcoin. It is controlling the rewards in which it is also limiting the supply of Bitcoin which is a good way for protecting all the un-mined Bitcoin.

Agree. Interesting what will happen when reach 21M coin. 

The number 98 is way too much. Then where will be decentralization? I consider it more as monopoly.

Bitcoin will be fine for a long time i would say.
China could try some maneuvers to take advantage of controling most of the mining and owning most of the markets? Yes
Could it hurt Bitcoin? Yes.
Could it destroy Bitcoin? Probably not.
Also, If you own most of it, why would you want to hurt it?
I think the point now for cryptocurrencies is much more about how to popularize it for common people and common markets and not only for people that are somehow related to programing or technology.
My best shot would be a strong, anonymous currency that could be mined by people without them having to invest in new techs and super equips every year. I mean decent mining on phones or even when you are doing some stupid exercise in a gym.
This, along with nice GUIs for storing, trading and mining would make people want to use cryptocoins in their local business.
China has absolutely nothing to do with it unless the fact they have 1/6 of earth's population so is pretty ok to expect that there are more chinese people in anything thats international and online than any other nationality in the world.
Bitcoin will die if it cant reach regular peoples houses for some time from now and for this to happen, i dont think the chinese would have much more to do about it then other people from other countries.
Its not about who mines more or trades more, its about if people are using it or not.
Whithout Chinese megafarms  maybe our transactions would take ages to confirm or maybe Bitcoin network would not be able to grow.
The more people trading bitcoin, the more miners we need.
So if theres something that can kill bitcoin imho, its not a nationality, but the inability of the coin to make itself popular and mineable along regular people, not only TI and technology fans.

There are so many people who have already said this thing for over and over again and this is not new to us. I just don't get the point why guys like OP keeps on defaming bitcoin, I am wondering what they are getting out of it, maybe they are those who are earning money to give negative thoughts about anything and who are good on saying untruthful things.

What benefits are you getting if you always defame something? I bet it is all about insecurities about bitcoin because of its popularity and you just want to shut it down for the other Altcoins out there will surpass bitcoins superiority amongst all of the coins here in the cryptocurrency world, just my opinion.