Topic: Can bitcoin die? (Read 422 times)

I think the discussion in this thread is quite a lot. Please allow me to lock this thread

Thanks

Nothing is impossible and nothing is possible as you fear because not all countries will ever ban Bitcoin and the total supply of money in the market will never run out. Like money we use when needed but money never ends money goes to you through me and that money reaches others through you but this money is never lost so even if we stop producing bitcoins the supply in the market is never lost from the market won't go. So it is unlikely that Bitcoin will disappear from the market.

While it's true that regulations can affect the accessibility and use of Bitcoin, if you're declaring BTC's demise based solely on a mining ban, that's impossible. Bitcoin's resilience lies in its decentralized nature and global user base. While restrictions can pose challenges, they can also encourage innovation and alternative solutions.

While the road may still be bumpy, it is too early to conclude that Bitcoin's fate is determined by mining restrictions alone. Its survival depends on the complex interplay of technological advances, market dynamics and the regulatory landscape.

You start the question by using the word "if". The definition of your question has no measurable certainty, I don't think bitcoin will die after seeing massive adoption in several countries, there are even countries that have adopted Bitcoin as a legally traded currency. Since its launch over the last decade, Bitcoin has held a place in the hearts of people, companies and countries like gold and silver.
Dollars, Euros and Pounds are the most recognized fiat currencies in the world. This currency continues to be printed or the supply continues to increase every year, big banks can easily launder money without the knowledge of citizens. While Bitcoin transactions are so transparent that citizens prefer Bitcoin over fiat money, for this reason several major countries have allowed payments using Bitcoin. It is very unlikely that Bitcoin will die after being welcomed with open arms around the world.

 Please let me know beforehand brother, are you a Bitcoin Hodl, or are you confused about the security of your funds if you save them to Bitcoin in the long term?
 The role of miners is indeed important, even though it is personal in nature and has not spread widely because various factors from tools to knowledge must be qualified for a surplus of funds to come out, whether it can cover the monthly budget for the mining that is being carried out. Let's just say that there are still quite a lot of miners who are currently active. see the desire generated by a transaction is still high and can cover both time, queue density and costs).

 There is also continuity, let's look at the supply of bitcoin availability. Looking at the history of the first time bitcoin was introduced, there were many ways, including claiming faucets, buying between members, bartering or just a small gift from a friend. Then does innovation stop there? a way to get bitcoins, but if you are used to mining I don't think all countries prohibit it, it could be in other countries that don't regulate or prohibit it.

 there are always pros and cons that prohibit a few, even those who really appreciate, facilitate the community and provide space for developers, have also started in several countries and quite a lot, most of the world.

 see the current trend of trading continues as long as there are sellers and buyers, even though their identities are disguised but look at the small developments in social media, there are even some who buy and sell goods online, they accept payments in bitcoin. that's proof that bitcoin can grow more brilliantly than yesterday.

 I think bitcoin technology can turn into easier transactions in the future, like now regardless of the type but bitcoin's technology (blockchain continues to advance and validates any transaction including Nft, the unexpected thing from the past).

 In terms of government in my country, for local cex, they have received taxes for the country from every withdrawal or deposit transaction, in outline they admit that there is a contribution of funds for the development of the country, if other countries follow the same thing, maybe crypto will be accepted in other countries there is no regulation yet. when the price of bitcoin drops as it is today, in my opinion it is a good idea to make a mining machine even with the availability of hardwhare and the funds we have are limited (Dca).

 At least we can enjoy (buying, fighting for prizes, etc.) also learn about bitcoin for now and let's see.

Not every country will ever ban Bitcoin Mining, Texas in USA promotes Bitcoin mining, El Salvador promotes Bitcoin and their president buy it on frequent intervals.
Dubai is promoting Cryptocurrency and eventually all the big countries will have to stay in the league with the technology or they will fall behind, so no. Not every country will ban Bitcoin.

So no, Bitcoin will never die.

Hello everyone...

I know that it is impossible for bitcoin to die. It's like the question will people die if they stop eating?

I know that the bitcoin community is very large. Bitcoin is the solution, We all love bitcoin


Thank you for every attention

Thank you for the warm welcome and discussion. As a beginner I hope to learn a lot in this forum

Anything that has a beginning will have an end. We cannot totally predict what the future hold for us and not even in the case of bitcoin whose origin and future is controversial.
Bitcoin can die, but the process which Op anticipates that bitcoin will die is not possible. It is not possible for the government of the whole world to have a concensus of simultaneously banning mining across the whole world.

It is not that these new regulations cannot be made even though the chances of it happening is low, it is if they will be followed or obeyed by miners in every country after it has been made. Miners may just decide to set up secret mining sites or choose this relocate to other locations maybe off grid. There are many activities that have been declared prohibited by the government of some countries, even though these activities has been affected, they have not stopped. Bitcoin will not die because not all miners will obey any law prohibiting their activity.

Everything that exists on earth will die, including you, me and other forum users and why don't we also think that bitcoin will also die?

Honestly I want to hear a much more rational question, meaning that we need to discuss what makes bitcoin die and what causes it? Questions like this have also been asked since the beginning of bitcoin was created and even then bitcoin was not as valuable as it is now. The analogy is like this friends, every human being will surely die, but we have sophisticated medical tools that can diagnose what disease a person's death is caused by, even if there are cases of people dying who don't have any disease.

Governments can obviously make any regulations to ban bitcoin, as some countries have done nowadays, but they can't regulate people not to get involved in bitcoin, because of its anonymous nature which can be hidden from anyone. El Salvador is the closest country that can be a reference for legalizing bitcoin for any use, both as an investment and as a legal means of payment. So forget about it, take advantage of what you can do in bitcoin to produce?

Bitcoin will not die even if all countries ban Bitcoin mining. Because Bitcoin is a decentralized digital currency, which means that no one can control it. So I think there is no need to be overly fearful about bitcoin, don't be pessimistic about the future of bitcoin. Bitcoin can die if the internet network on this earth is destroyed.

Because even if all countries ban bitcoin mining it doesn't affect bitcoin the bitcoin network will still work. Moreover, Bitcoin has now been widely adopted and developed and many countries have introduced regulations that support bitcoin, such as El Salvador. Even if the ban does occur and may affect the attractiveness and liquidity of Bitcoin, it is unlikely to completely eliminate the value and use of Bitcoin. In conclusion, bitcoin is not easily lost, so don't speculate strangely about the future of bitcoin. You have to read again the purpose of bitcoin being created and surviving until now.

Even if it happens, we think this is impossible, most of the big countries see Bitcoin as a positive place that they can even rely on, in the sense that they see innovation that is so good in Bitcoin, and not with a positive nature, some big countries have also given access to permissions that are very good for their users they can make payment transactions freely using Bitcoin.

We think that bitcoin has a great struggle and impact on the world, we can say that Bitcoin will not die, and this is impossible, great hopes for the next year will be in the picture of Bitcoin, and with the level of popularity of Bitcoin to convince someone to continue working on it even want to get it, they know the return they will get from Bitcoin.

If only this false principle exists; bergofsky principle, bitcoin would have been dead long ago. For a technology that is getting famous everyday and making daily news I don't think it will die. Even the post office is not yet dead despite the widespread usage of emails. It can only be that a crypto technology that is more sophisticated than bitcoin is created. More users can moveahead to use such technology, but that won't kill bitcoin, it can just reduce in value. As the world of tech is moving too fast people in future can refer back to bitcoin as the source to the technology they're using. Even one node can run the network, so it's very difficult for the network to fail or breakdown.

I agree with you.
Realistically, a lot of people already have bitcoin and no government can do anything about it.
Of course, governments can agree among themselves to disable the public use of bitcoin, close crypto exchanges and exchanges, disable crypto trading and mining, but bitcoin will still exist, it will just go underground and people will directly sell and buy bitcoin between themselves.
I'm sure that all governments and international financial institutions understand this and that is why they are not thinking about banning bitcoin but about its regulation and taxation.

Maybe this issue of exchanges getting caught up by government is really pulling a trigger to there fear of missing out, but they cannot compare bitcoin to other cryptocurrencies, centralized assets or the government fiat and traditional currency as well, bitcoin is decentralized, cannot be controlled, regulated or manipulated by anyone, which means this digital network has a set of protocols that guides it which cannot change anything about bitcoin as long as those protocols are in consensus.

Congratulations, Bitcoin is not a security, that makes it way better than anything ever built on this earth since the past years, this will make Bitcoin a bigger target for huge institutions,  since SEC can't even target Bitcoin, it should clear the fact that Bitcoin will have a longer life span, so cool down and think positively.

The only way that Bitcoin can become a thing of the past is if everyone stop using it and adopting it, I am happy that this call is not in the hands of the government to make, it's very obvious to see reasons why Bitcoin will live longer.

in my point of view, anythings can happen even though we have power to handle it or not. But for this case, the probability of bitcoin die will happen is very low, so as you said before when china banned bitcoin then miner of bitcoin moved to the united states. So so far, the huge community of bitcoin has always found a way to keep bitcoin in existence. But what if all of country banned bitcoin, we the cryptocurrency community will also find their way.

Depends, if there is a single entity that keeps on mining, the Bitcoin network will continue to process its transaction.  That is the beauty of decentralized nature.  Even if the authority banned all kind of mining, there will be someone who will go against the prohibition and keep on mining Bitcoin.  But obviously in reality, not all countries will ban bitcoin mining because bitcoin mining helps in a places where there are small demand of electricity making electricity much more cheaper.

Aside from that Bitcoin mining is helpful to the places where severe cold environment is existing.  These miners can help heating the environment in such cold places.

Banning will not affect mining, there are still many methods that can be used even if access is blocked. But as you said, there will be no ban without reason, everything must have a reason. The current government may only prohibit mass adoption but for mining and trading it is still allowed. Bitcoin will never die and this is still the beginning of Bitcoin's journey. When Bitcoin or crypto technology develops, the government will need it.

It cannot die because of regulations and bans. It can die if the encryption is broken somehow, or of its users abandon it. You can't make people stop mining, but if they decide of their own will to do so, there won't be anyone to process transactions and the network will slowly become abandoned, but an example of Luna that was a scam and its founder got himself arrested proves that it's not easy to kill a coin. Luna is still tradable and continues to have value. Do you believe that bitcoin wouldn't because of a ban?