Bitcoin May Extinct - page 4. | Bitcointalksearch.org

teosanru

hero member

Activity: 2114

Merit: 619

Quote from: djefes on October 18, 2019, 06:38:43 AM

Gents, Am I the only one thinks that bitcoin can be erased in the same way it is created? Dont you think any attack can kill it?

https://hackernoon.com/bitcoins-biggest-hack-in-history-184-4-ded46310d4ef

If this happened, anything can.
What will happen after satoshi dies?
What will happen when bitcoin stands alone.
What will happen if it is banned globally?
What if goverments start working on killing bitcoin?
Dont you think goverments can work on it to kill it?

Btc is not like gold. You cant make the gold disappear suddenly as it is possible for btc. I am a fan of btc but I am also scared. It should be protected but who will do it? Exchanges? The top btc holder?

Even if Satoshi dies there will be no change in existence of bitcoin. Satoshi is a very important personality to bitcoin but no matter how important is he there is nothing he is contributing currently towards the working of Bitcoin. Moreover banning it globally isn't that easy. Bitcoin is a digital commodity which actually doesn't requires approval from any government around the world. It's the people who these governments govern and not bitcoin. So at maximum this ban would do is drive away some people from bitcoin and nothing else. The core community users will still stand with bitcoin because they actually are pretty untraceable if we continue to use private key wallets.

bounceback

sr. member

Activity: 2086

Merit: 283

Vave.com - Crypto Casino

it is very difficult to predict bitcoin can be extinct whereas now most people who want a bitcoin adospi and investors investing with bitcoin and bitcoin are very popular among people now so if the government works to kill bitcoin then i think this will be a big riot between the government and people especially those who hold a portion of bitcoin will surely be a large-scale demonstration to prevent the government from destroying bitcoin.

judeafante

sr. member

Activity: 2254

Merit: 258

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote

If this happened, anything can.

So far it's not proven yet if there's a theory about it, it hasn't proven that it will be effective, that an attack can kill it

Quote

What will happen after satoshi dies?

Where is he right now, do you know where he is and what he';s been into know

Quote

What will happen when bitcoin stands alone.

It's always been stand alone no central agency has and can control it

Quote

What will happen if it is banned globally?

Banning Bitcoin is not effective anymore government is created by the people and serve the people

Quote

What if goverments start working on killing bitcoin?

They can try but doubts if it will become successful, every government has their own problems to solve

Quote

Dont you think goverments can work on it to kill it?

The farthest that have done is regulate it

dothebeats

legendary

Activity: 3542

Merit: 1352

I highly doubt it can still happen today, and even with the current technologies that we have right now concerning cryptography and whatnot, it is still remotely possible for any such things to happen. If one vulnerability ever exist that could harm the whole of bitcoin, it already has been done by now and we wouldn’t be having this conversation even. But fortunately there isn’t, and if there is it would easily be patched and fixed.

cr1776

legendary

Activity: 4298

Merit: 1317

Great response as had previously been the case in your replies. Good to see you back after 18ish months!

Quote from: DannyHamilton on October 18, 2019, 09:35:58 AM

Quote from: djefes on October 18, 2019, 06:38:43 AM

Gents, Am I the only one thinks that bitcoin can be erased in the same way it is created?

No, you are not the only one. There are other foolish people that also believe that.

Quote from: djefes on October 18, 2019, 06:38:43 AM

Dont you think any attack can kill it?

If ANY attack could kill it, then it would already be dead.

Quote from: djefes on October 18, 2019, 06:38:43 AM

https://hackernoon.com/bitcoins-biggest-hack-in-history-184-4-ded46310d4ef

If this happened, anything can.

That is not true. One thing happening does not result in all things happening. That's not how the universe works.

Quote from: djefes on October 18, 2019, 06:38:43 AM

What will happen after satoshi dies?

He is already dead. What will happen is what has happened.

Quote from: djefes on October 18, 2019, 06:38:43 AM

What will happen when bitcoin stands alone.

Bitcoin has already stood alone. What will happen is what has happened.

Quote from: djefes on October 18, 2019, 06:38:43 AM

What will happen if it is banned globally?

Can you name any single thing that is banned globally? If you can, does that thing still exist?

Quote from: djefes on October 18, 2019, 06:38:43 AM

What if goverments start working on killing bitcoin?

Can you name anything that governments try to kill? Does that thing still exist?

Quote from: djefes on October 18, 2019, 06:38:43 AM

Dont you think goverments can work on it to kill it?

Governments can work to do whatever they want. It doesn't mean they will succeed.

Quote from: djefes on October 18, 2019, 06:38:43 AM

Btc is not like gold.

Correct. It is better.

Quote from: djefes on October 18, 2019, 06:38:43 AM

You cant make the gold disappear suddenly as it is possible for btc.

Yes, you can. But regardless, in what ways do you think bitcoin can be "made to disappear"?

Quote from: djefes on October 18, 2019, 06:38:43 AM

I am a fan of btc but I am also scared.

It's okay to be scared. Lots of people are scared of lots of things.

Quote from: djefes on October 18, 2019, 06:38:43 AM

It should be protected but who will do it?

I will. Will you?

Quote from: djefes on October 18, 2019, 06:38:43 AM

Exchanges? The top btc holder?

Perhaps. Perhaps not. Does it matter?

Coinpush

newbie

Activity: 6

Merit: 0

In my opinion, it's fairly unlikely for Bitcoin to ever hit zero because: less activity => easier to mine => more miners => more competitive - and the cycle repeats.

However, I did get thinking about the impact of Quantum computing on cryptocurrencies such as Bitcoin. Here's a video that touches on that: https://www.youtube.com/watch?v=wlzJyp3Qm7s

kryptqnick

legendary

Activity: 3332

Merit: 1404

Join the world-leading crypto sportsbook NOW!

Quote from: Astvile on October 18, 2019, 07:58:34 AM

Quote from: Mandoy on October 18, 2019, 06:49:35 AM

The hacking problem was already solved and right now that hacking incident can no longer occur.

How can you be se sure that the hacking incident will no longer appear and occur anytime now or in the future?
Bitcoin and blockchain system is yes secured but still quite vulnerable to hacking. Hackers can always find a hole to penetrate and milk the system we can't assure that bitcoins security is on top level.

It's terrifying from the past, and it's true that that could be the end of Bitcoin's popularity and functionality. However, technically Bitcoin would not have died, it would have still existed. It seems logical that it's way easier to hurt a young vulnerable code than the old and tested one. Moreover, back then there was Satoshi and maybe a couple of other people trying to help, whereas today the community is huge, and an active dev team is doing a lot to ensure safety. Sometimes bugs happen, even those pretty similar to the one that happened in 2010, although of a smaller scope (https://www.coindesk.com/the-latest-bitcoin-bug-was-so-bad-developers-kept-its-full-details-a-secret). We cannot know for sure, but it seems that we are in safe hands.

normanz

copper member

Activity: 327

Merit: 0

Many have said that bitcoin will go extinct, but bitcoin still survives and proves them wrong. I think bitcoin won't be easily extinct but bitcoin still has a future.

DannyHamilton

legendary

Activity: 3528

Merit: 4945

Quote from: djefes on October 18, 2019, 06:38:43 AM

Gents, Am I the only one thinks that bitcoin can be erased in the same way it is created?

No, you are not the only one. There are other foolish people that also believe that.

Quote from: djefes on October 18, 2019, 06:38:43 AM

Dont you think any attack can kill it?

If ANY attack could kill it, then it would already be dead.

Quote from: djefes on October 18, 2019, 06:38:43 AM

https://hackernoon.com/bitcoins-biggest-hack-in-history-184-4-ded46310d4ef

If this happened, anything can.

That is not true. One thing happening does not result in all things happening. That's not how the universe works.

Quote from: djefes on October 18, 2019, 06:38:43 AM

What will happen after satoshi dies?

He is already dead. What will happen is what has happened.

Quote from: djefes on October 18, 2019, 06:38:43 AM

What will happen when bitcoin stands alone.

Bitcoin has already stood alone. What will happen is what has happened.

Quote from: djefes on October 18, 2019, 06:38:43 AM

What will happen if it is banned globally?

Can you name any single thing that is banned globally? If you can, does that thing still exist?

Quote from: djefes on October 18, 2019, 06:38:43 AM

What if goverments start working on killing bitcoin?

Can you name anything that governments try to kill? Does that thing still exist?

Quote from: djefes on October 18, 2019, 06:38:43 AM

Dont you think goverments can work on it to kill it?

Governments can work to do whatever they want. It doesn't mean they will succeed.

Quote from: djefes on October 18, 2019, 06:38:43 AM

Btc is not like gold.

Correct. It is better.

Quote from: djefes on October 18, 2019, 06:38:43 AM

You cant make the gold disappear suddenly as it is possible for btc.

Yes, you can. But regardless, in what ways do you think bitcoin can be "made to disappear"?

Quote from: djefes on October 18, 2019, 06:38:43 AM

I am a fan of btc but I am also scared.

It's okay to be scared. Lots of people are scared of lots of things.

Quote from: djefes on October 18, 2019, 06:38:43 AM

It should be protected but who will do it?

I will. Will you?

Quote from: djefes on October 18, 2019, 06:38:43 AM

Exchanges? The top btc holder?

Perhaps. Perhaps not. Does it matter?

MicroGuy

legendary

Activity: 2506

Merit: 1030

Twitter @realmicroguy

Quote from: djefes on October 18, 2019, 06:38:43 AM

Gents, Am I the only one thinks that bitcoin can be erased in the same way it is created? Dont you think any attack can kill it?

Unless the Proof of Work bug is solved, Bitcoin will destroy itself.

milani

sr. member

Activity: 1092

Merit: 254

Quote from: djefes on October 18, 2019, 06:38:43 AM

Gents, Am I the only one thinks that bitcoin can be erased in the same way it is created? Dont you think any attack can kill it?

https://hackernoon.com/bitcoins-biggest-hack-in-history-184-4-ded46310d4ef

If this happened, anything can.
What will happen after satoshi dies?
What will happen when bitcoin stands alone.
What will happen if it is banned globally?
What if goverments start working on killing bitcoin?
Dont you think goverments can work on it to kill it?

Btc is not like gold. You cant make the gold disappear suddenly as it is possible for btc. I am a fan of btc but I am also scared. It should be protected but who will do it? Exchanges? The top btc holder?

So all these questions are from the category - "what will be if...". But these if may happen, or may not happen. In case such things happen there will be lots of sad and disadvantaged people on the planet. Lots of people will go mad, and even dead))) Grin

sorry, but in case all governments conclude a secret agreement and at the same time forbid the crypto, may be all these questions even will not have any sense and everything will look like in a more simple way. But to my mind it is a nonsense. But even in case crypto disappear one day, if it is possible, I do not think that life is over after that)))))) just be attentive to changes and do not be sure that everything is everlasting...

blckhawk

sr. member

Activity: 1554

Merit: 334

Quote from: djefes on October 18, 2019, 06:38:43 AM

If this happened, anything can.
What will happen after satoshi dies?
What will happen when bitcoin stands alone.
What will happen if it is banned globally?
What if goverments start working on killing bitcoin?
Dont you think goverments can work on it to kill it?

Btc is not like gold. You cant make the gold disappear suddenly as it is possible for btc. I am a fan of btc but I am also scared. It should be protected but who will do it? Exchanges? The top btc holder?

The situation today is not different to when Satoshi dies. As far as I know, Satoshi already left the Bitcoin's blockchain.

When Bitcoin stands alone, either it will thrive and be used to compete to digital fiat, recieve acceptance from the public, or would be regulated heavily by the government.

A global ban is highly unlikely. True censorship is near impossible, unless all countries decided to run under dictatorship with global ban to internet access.

They can't entirely shut down Bitcoin's network. It's a decentralized system of nodes (miners) and shutting a mining farm won't shut down the whole system. It's located all around the world, and to shut it down completely, you need to shut down all nodes that has the copy of the blockchain.

romero121

legendary

Activity: 3234

Merit: 1214

Casinopunkz - Anonymous Crypto Casino

Op has understood that gold can't be stopped from usage suddenly. If that's impossible it is not possible to stop bitcoin from its usage. Maybe the years of existence between gold and bitcoin vary, but the technology backing makes bitcoin strong. Controversy is a part of growth, so when there is tremendous growth automatically fear accompanies it. This is what felt by Op, maybe he'll come out of the fear going through the parallel thread Bitcoin is never going to be extinct

Pearls Before Swine

sr. member

Activity: 1190

Merit: 306

Quote from: djefes on October 18, 2019, 06:38:43 AM

What will happen if it is banned globally?
What if goverments start working on killing bitcoin?
Dont you think goverments can work on it to kill it?

Bitcoin would have to be banned globally in order for it to die, and that would take some serious legislation across all countries to happen. I don't think that will happen in my lifetime, nor at all. I think it is more likely that at some point the banking system will collapse and bitcoin will be needed as a backup currency, which almost happened in 2008 (coincidentally when bitcoin was born).

Gov'ts could certainly pass laws making bitcoin ownership illegal, but they don't seem to be interested in doing this so far and it has been 10 years already. I sort of think they see that it has great value, or at least potential value and that at the very least it isn't causing great harm. So no, bitcoin's extinction probably won't happen ever and definitely not in most of our lifetimes.

Astvile

sr. member

Activity: 1484

Merit: 276

Quote from: Mandoy on October 18, 2019, 06:49:35 AM

The hacking problem was already solved and right now that hacking incident can no longer occur.

How can you be se sure that the hacking incident will no longer appear and occur anytime now or in the future?
Bitcoin and blockchain system is yes secured but still quite vulnerable to hacking. Hackers can always find a hole to penetrate and milk the system we can't assure that bitcoins security is on top level.

ene1980

hero member

Activity: 2002

Merit: 535

Quote from: djefes on October 18, 2019, 06:38:43 AM

Gents, Am I the only one thinks that bitcoin can be erased in the same way it is created? Dont you think any attack can kill it?

In the early stages the software has many bugs and it was trial and error in the beginning where the community helped Satoshi in identifying all these issues and now it is a completely different animal with many talented developers and testers overlooking the project.

Quote from: djefes on October 18, 2019, 06:38:43 AM

What will happen after satoshi dies?

It does not matter as he left the development a long back and there are other talented developers.

Quote from: djefes on October 18, 2019, 06:38:43 AM

What will happen if it is banned globally?
What if goverments start working on killing bitcoin?
Dont you think goverments can work on it to kill it?

These are logically impossible.

Jating

hero member

Activity: 2842

Merit: 772

Lol, bitcoin has existed for the last ten years and even though there are attempts to stop it, somehow bitcoin survived so I doubt that we will go instinct in the next ten years. For me that is the critical because it's the formative stage of it, and ever if did survived (which we did), then there's no stopping it.

Maybe you can also include this bitcoin obituaries? Grin

https://99bitcoins.com/bitcoin-obituaries/

And pretty much all your questions has been answered already, Satoshi left us, just imagine that, the creator suddenly disappear but his invention lives on. Are there more challenging than that?

lionheart78

legendary

Activity: 2982

Merit: 1153

The hacking is quite easy during those early days because of low difficulty and very low hashes securing the network of Bitcoin. I do not think that the same event will happen againd since the bug had been patched, and it is very expensive to outhash those hashes securing the bitcoin network.

Quote from: djefes on October 18, 2019, 06:38:43 AM

Gents, Am I the only one thinks that bitcoin can be erased in the same way it is created? Dont you think any attack can kill it?

https://hackernoon.com/bitcoins-biggest-hack-in-history-184-4-ded46310d4ef

If this happened, anything can.
What will happen after satoshi dies?

Well, if satoshi dies, no one will know since no one knows his true identity, thus it has no effect on Bitcoin becuse his absences in the current Bitcoin situation is good as being dead.

Quote from: djefes on October 18, 2019, 06:38:43 AM

What will happen when bitcoin stands alone.

If Bitcoin can stand alone then we can say that Bitcoin is stable enough to face hurdles, why not be happy about it.

Quote from: djefes on October 18, 2019, 06:38:43 AM

What will happen if it is banned globally?
What if goverments start working on killing bitcoin?
Dont you think goverments can work on it to kill it?
Btc is not like gold. You cant make the gold disappear suddenly as it is possible for btc. I am a fan of btc but I am also scared. It should be protected but who will do it? Exchanges? The top btc holder?

Stop drinking too much coffee, it is getting into your nerve. Let us just enjoy having Bitcoin and the freedom to use it today, only worry when those stuff happened. By that time I know the community will have a counter measure for all your worries.

ChrisPop

legendary

Activity: 2324

Merit: 1035

Not your Keys, Not your Bitcoins

Bitcoin does not run because Satoshi is alive. Satoshi Nakamoto is the creator of Bitcoin and he might oversee its evolution from the shadow. Remember that we don't know if Satoshi is one man or a group of people. Secondly, the wise men usually find apprentices whom they teach all their knowledge so he can pass it on to the next generations. I'm sure that a lot of countries in the world will adopt Bitcoin because there if it gets banned will create an outrageous effect on anarchists and bitcoin maximalists that will probably make protests and maybe even move to countries that haven't banned it and empower the economy there.

You've got to understand that there are people working FOR the benefit of Bitcoin in the background as well. We have "allies", not just enemies.

CryptoBry

sr. member

Activity: 1008

Merit: 355

Quote from: djefes on October 18, 2019, 06:38:43 AM

Gents, Am I the only one thinks that bitcoin can be erased in the same way it is created? Dont you think any attack can kill it?

https://hackernoon.com/bitcoins-biggest-hack-in-history-184-4-ded46310d4ef

If this happened, anything can.
What will happen after satoshi dies?
What will happen when bitcoin stands alone.
What will happen if it is banned globally?
What if goverments start working on killing bitcoin?
Dont you think goverments can work on it to kill it?

Btc is not like gold. You cant make the gold disappear suddenly as it is possible for btc. I am a fan of btc but I am also scared. It should be protected but who will do it? Exchanges? The top btc holder?

You are afraid that this 2010 story can be repeating itself and when then is no more Satoshi Nakamoto who can prevent the death of Bitcoin via hacking then everything will be gone in hours. We should be happy that the incident happened at the early stage of Bitcoin so that solution was immediately found and no damage whatsoever was inflicted to its whole ecosystem. I don't there will be such a thing again and right now all possible scenario can already be covered...even the so-called quantum computing.

Now, it would be impossible to unite all governments and have a single stand to kill Bitcoin. That can never happen as this is not a case of the election where majority wins. Governments have never been united on any issue before...there will always be those who will dissent and will not follow any majority's decision. You can witness this disunity even in the floors of the United Nations. Oh, yes, governments can work to kill Bitcoin but they won't success and since they know it they are not going to waste their time and resources to do so.

Don't worry too much. Just relax, be happy and enjoy the roller-coaster Bitcoin ride.

Topic: Bitcoin May Extinct - page 4. (Read 1901 times)