Topic: Bitcoin is gonna die soon! - page 5. (Read 8218 times)

Oh ok! I understand your point of view now. The funny thing is people will still keep exchanging irrespective of the exchange fees, speed or whatever and you know if it becomes worthless as a payment service, people will start dropping it and definitely it becomes worthless too as an asset. There are two categories of people thay keeps the system moving, THE HOARDERS AND THE SPENDERS and without the two, it is a NO NO. What is increasing the value today is how readily people are accepting it, using it to pay for stuffs and exchanging it.
Demand and Supply - that is what adds value to things anyway even fiat currencies. Once there is always more demand and less supply, the value rises and the two must always go hand in hand. So once it starts losing its value, it gradually starts getting worthless, and people may start looking for a better alternative if there is any.
And since you already said you prefer to hold your coins rather than spend them, you won't as well want the value to drop right? I am sure no matter how bad the payment service is, which I don't really think it is considering the value, exchange won't stop. This is just a little I know about how the exchange market works though, maybe the gurus can shed more light.

Yes, many people always said bitcoin will be died because of there​ are no developers
investors and other problem related with bitcoin.
The fact bitcoin is still alive until today and many investors made investments into bitcoin
 it is new revolution of currency, the comunity of bitcoin will make bitcoin be alive
although many people says bitcoin will not survive.

3 things:

1. We should not compare Bitcoin to banks. We should be much better than that old crappy centralized system.
2. As an online payment service, it is more appropriate to compare Bitcoin to e-wallets like paypal, skrill, neteller, etc. Well, if I buy stuff online using such e-wallets, fees are much lower than Bitcoin (often 0) and the transaction is instant. I would like Bitcoin to be like that. Then, I know there are lots of other problems with those e-wallets (centralization, limits, verifications, low privacy, etc.) but if you consider only the payment part they are much better than  Bitcoin. That's a fact.
3. We are all Bitcoin enthusiasts on this forum, but think about other people who don't use BTC yet. Why a business should use Bitcoin. Which would be its advantages? No one to make a business owner change his habits. We should think about mass adoption. It will never happen if fees are so high, transactions are slow and may be never confirmed even if the sender sets a high fee.

I know what I am talking about and I did this thread because I love Bitcoin and I want it to be a better payment service, not just a digital asset.

From your mentioned scenarios, I think number 3 is more likely event in the sooner future, but eventually I feel it will be number one, all the problems that may be halting bitcoin will eventually be solved and it will remain the number crypto and actually be enhanced to a greater level as well.

No, of course I don't want that, but at the same time I prefer to hold my coins rather than spend them.
When I say it's gonna die, I mean that Bitcoin is becoming worthless as a payment service, not as an asset.

OP! I understand your plight but if you really want to hear the truth! Bitcoin is just starting! Not like you don't have some points, Yes! Bitcoin can die. In as much as I'm a bitcoin enthusiast, I know that can happen but the only way that can happen is if a way better cryptocurrency comes along and people lose interest in Bitcoin and slowly move to this newer and better cryptocurrency but what you are not seeing is how strong bitcoin already is that all these other altcoins are just following put.

First and foremost, Bitcoin does not have any weak point. There is no central server or code to break down and render the entire system dead in a moment.

Secondly, there is already a lot at stake. Have you checked coinmarketcap lately? Money, dreams and careers, all are at stake if Bitcoin fails. There are now thousands of businesses and hundreds of thousands of jobs in what you can call the Bitcoin industry. Over a $1 billion has been invested in startups offering services and solutions built around the cryptocurrency. So, no matter the fight between any player in the bitcoin industry (developers, miners, entrepreneurs etc), it will always be resolved because every player in those camps has something to lose if Bitcoin fails and successful bitcoin translates to everyone being successful.
Let me even use you as an example, you already have like 10btc in your wallet which you had few years ago. Knowing its worth now, would you want bitcoin dead? So you will want to hop into another cryptocurrency you are not even sure what the future holds for it as most of their prices are still centered on bitcoins'?

Lastly, Bitcoin does not have a governance structure that is clear and no one, not even Satoshi Nakamoto, the master himself who invented Bitcoin has the authority and power to decide the way forward. Like a blogger said, "It is consensus all the way. And the community can achieve that through negotiations at roundtables or the hash power. The latter option involves nodes in the Bitcoin network voting for the version of code they want by adopting it."

These reasons would make a swift failure of Bitcoin harder than anyone can often bring themselves to think.

An important lesson for some newbies;

Bitcoin has been an opened source experimental software with the A-Z publicly available from the start, every thing is transparent and visible and the serious miners/users have reviewed it before using and investing their money, they know all about it and current situation is not about the code, it's about the people using it.

Satoshi has done a great job and he was more focused on how to ensure the decentralization and immutability, in fact he did his job so well that caused this stalemate, you can't blame him or Bitcoin, you should start blaming miners because even I could code a crypto currency and offer it but only if anyone used it which are miners, no one to blame but miners who are stalling progress.

Again, it comes down to the community support and the faith the community has in Bitcoin as a whole. As long as the community remains present and they are active doing things within the economy, be it spending, trading or working, then there is a significant chance that Bitcoin will continue to be fine for a long period of time. If it doesn't keep going down that path, however, then it has the potential to die. Is that likely? No.

The first one that bitcoin developers will figure out and sort it out for us, and that's what I have always believed from the start. Yes there are problems, frustrations all around but trust me solutions will come, we all need to focus on solutions and be far more positive. Negativity won't help us, we have come to far to let it all go. I would request you to add another scenario we all get together and support it, irrespective of the problems and help it through a tough time.

I do not think it's easy to turn off something that has a very high price, especially bitcoin. If it's altcoin, of course it's possible, but it's very hard to imagine bitcoin die, because it will make a lot of people lose. So I guess, bitcoin will not die that easily, because it will always be updated.

Bitcoin will simply not die why? Because it simply can't.
The transaction is slow ? It's fine for me my 0.01 got confirmed in in just 5 mins, why? Because i know how to use bitcoin properly.
Even if segwit doesn't get implemented it's fine we still have other options and transaction seems still convenient, segwit will only get implemented if we exhaust all our options or emergencies.
Im sure proposal will be presented regarding the bitcoin scaling solution, so why rush?

There is very least possibility that bitcoin will die in future as it is still in its early days and still it has managed to achieve good price so in future when bitcoin will get more older and will become more popular its price will  be even higher.

i totally agree with you, it cannot be pull down by anything that has been trying to push it down, bitcoin has been going stronger for many years , and it is gaining its value more often , and people are more interested on it , and people invested some of their money there in bitcoins because they see the potentials in bitcoins. bitcoin will be stronger and stronger and the value will continiously go higher.

you are saying a bunch of stuff that are completely irrelevant to each other!
the wannacry ransomeware is just a ransomeware or malware like any other, and just like many other things it is using bitcoin. the amount of its usage is too tiny it is not even counted. there are small businesses out there that have more volume that it had. it is just the media that is focusing the attention on it and bolding bitcoin part of it.
also price has nothing to do with it. it has been in a small bubble and we needed a correction as everyone expected that happened.

Technically speaking, we're all dead and solar system already destroyed, we just don't know it yet because time moves with different speeds.
You think Wu will stop ejaculating antminers any time soon?

At least if it dies fees will go back down and spammers drop spamming, maybe we need to kill bitcoin so it can be reborn much stronger than before?
Just like in Batman when they wanted to destroy Gotham to cleanse it

Why some of you are too much sensitive when some one says bitcoin going to die?

Marketcap tells me of another story far away from dying bitcoin.

I think bitcoin can possibly die, because the hackers are making move on their project call OP wannacry ransomeware and last week it happen and the bitcoin price dump very large and this week they are planning to make a new launch which is 2.0 of that project and that ransomeware is no kill switch so expect the dump and the worst is bitcoin will be dead.

Bitcoin is very tough and strong and it can never be stopped by simple problems and attacks. There was the bubble in 2013 but it did not stop bitcoin to grow. Another was the problem on the blocksize that threatened bitcoins existence and yet it continue to excel. Several issues on hacking huge exchanges causing them to lose billions of investment but it was not enough to take down bitcoin.

yes bitcoin in now becoming more and more powerful and stronger, because the users of bitcoin are continuously increasing who are investing their money in bitcoin. people are using bitcoin for investment method as investment in  bitcoin in present time is really a very safe and profitable investment. i think those people who have invested money in bitcoin some years before now they are milliner, but still people have the chance to utilize some good profit.

i agree with you that bitcoin will be never die because bitcoin is very stronger cryptocurrency and you are right that bitcoin will be survive forever and i think there is no one any reason to die bitcoin and i am sure bitcoin will be our regular currency in the future.