Can Bitcoin Ever Be Shutdown? | Bitcointalksearch.org

dyablo

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Quote from: yusufjalal on October 13, 2017, 06:12:12 AM

I was just wondering, what would it take for the Bitcoin Network to be shutdown completely?

If all countries banned bitcoin, if the internet shuts down, bitcoin will also shuts down because bitcoin runs by internet. And if no one uses bitcoin, there is a possibilty that bitcoin shuts down.
Bitcoin will shutdown if that 3 things happen.

STT

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Bitcoin will be shut down from within if any scenario was viable in that way. The way that some miners have forked away to another blockchain type is how the original protocol would most likely end. I dont see it ending from external means otherwise, just one government is not a reason as Bitcoin is a global transfer system and remains anyway.

A bit like how Dollars were banned in the old USSR system, they were used anyway at least on the edges of that empire because regardless this was a good system or better system then the communist operated rouble at that time. The reason to doubt Bitcoin would be for internal reasons, I did see the fees being so high as a possible end but it has been resolved and luckily it was seen correctly as a problem for long term viability.

v0rtecxz

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the internet is the most important part in accessing bitcoin, if the most important part is lost or turned off then bitcoin becomes useless, well what is part of the internet, energy resources ie electricity if the need for resources such as electricity can not be produced again, of course all the equipment and activities using electric power will die, certainly a big impact for the Internet because it requires electricity as a connecting road between the two

CARrency

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Quote from: Zuckonit on April 23, 2018, 04:52:27 PM

A place without wifi or power couldn't use bitcoin.

And I guess it don't matter since they can't use Bitcoin in that place.

Quote from: olegblinov86 on April 23, 2018, 04:55:04 PM

Most likely, bitcoin will die if the Internet dies. But now the whole world is focused on the Internet, so even if something happens to him, it will not last long.

Happen to "him"? Who's him? Internet is the blood of Bitcoin, without it will obviously die but internet will not die that easily since it is a used scenario that we always use the internet every time in our life.

Quote from: gandame on April 23, 2018, 06:06:29 PM

Bitcoin can shutdown once no one invest on it and no electricity or no internet the are main for shutting down the bitcoin its really important that all of this are not shutting down to always remain bitcoin.

If no one invest on it I will kill myself. Electricity? Nah, that is way out of the box.

gandame

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Bitcoin can shutdown once no one invest on it and no electricity or no internet the are main for shutting down the bitcoin its really important that all of this are not shutting down to always remain bitcoin.

Ishiro5

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In the case of 51% majority attack on the blockchain which requires unimaginable computing power to do, yes. But even in this scenario, it would only achieve a temporary shutdown which makes it unprofitable for whoever does, cos the system will strike out the corrupted block. And if it is from government side, just know that it aint gona happen, people are more powerful than government, bitcoin is the people

matedrink24

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Quote from: Sumo on April 23, 2018, 04:36:12 PM

If in the world something happens to the Internet, something global, it will clearly harm bitcoin and may even contribute to its disappearance.

I think if the world is disconnecting the internet , that's would be the end of this world because exchanging the informations is likely living or death. Without internet , this world will be just a ruin left over because there will be no more connections from people in this world . It's really hard to happen which mean Bitcoin is also hard to be shutdown.

olegblinov86

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Most likely, bitcoin will die if the Internet dies. But now the whole world is focused on the Internet, so even if something happens to him, it will not last long.

Zuckonit

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A place without wifi or power couldn't use bitcoin.

Sumo

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If in the world something happens to the Internet, something global, it will clearly harm bitcoin and may even contribute to its disappearance.

missyqt29

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Quote from: yusufjalal on October 13, 2017, 06:12:12 AM

I was just wondering, what would it take for the Bitcoin Network to be shutdown completely?

The only effective yet almost impossible way to permanently shutdown bitcoin is only through disabling the Internet all together. It is all because as long as their is internet, there will be people that will the opportunity to practically use bitcoin for business and technology. Bitcoin has been already made its name, so erasing its legacy will be a very difficult task to finish because bitcoin has helped many people around the world.

drukoz2

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Most likely, a complete ban by the majority of the world's States will really be able to stop bitcoin. But it's more of a fantasy than a reality.

george888055

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Bitcoin network will not be shutdown. If miners stop mining bitcoin, new miners will realize an economic advantage to mining as it will cost less to mine than the profits realized and new miners will come into the network, stabilizing the difficulty.

goaldigger

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There is only one entity and it is so powerful. THE GOVERNMENT. They are only the big thing that can destroy bitcoin, cryptocurrency and all of our dreams with it. Just a single signature can ruin it all. But based from what is happening now, its reversed. Governments wanted to adopt on cryptocurrency one at a time.

bentong talong

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Quote from: Remainder on April 22, 2018, 08:05:28 PM

Bitcoin can not be shut down anymore because it is already in the holders who has the authority to used it, their is a chance if internet globally will shut down and that's the time bitcoin will shut down.

I definitely agree with you. There's no enough reason to shutdown Bitcoin. Bitcoin is popular and still number one so I don't think it will be gone. I have a positive feeling that it will stay.

Remainder

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Bitcoin can not be shut down anymore because it is already in the holders who has the authority to used it, their is a chance if internet globally will shut down and that's the time bitcoin will shut down.

Rkss4

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Quote from: yusufjalal on October 13, 2017, 06:12:12 AM

I was just wondering, what would it take for the Bitcoin Network to be shutdown completely?

No, bitcoin never shout down. Though governments should take a negative step on bitcoin then it has highly possible to shout down bitcoin. But governments should take a positive step then I sure that bitcoin never shout down.

btcgainer24724

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Quote from: yusufjalal on October 13, 2017, 06:12:12 AM

I was just wondering, what would it take for the Bitcoin Network to be shutdown completely?

Bitcoin is a digital currency which is work trough the internet conection.so it can stu down if there will be no electricity and no net connection.You wouldn't be able to make any transactions without these

atetess

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Quote from: yusufjalal on October 13, 2017, 06:12:12 AM

I was just wondering, what would it take for the Bitcoin Network to be shutdown completely?

Yes, it will if internet will shut down too. If it is possible in our new generation that internet will totally shut down then bitcoin will probably shutdown too, but if it is imposible, then bitcoin will take effect as long as there are existing users.

P60

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Bitcoin will not be shutdown; the price will fall but it will never gone. Bitcoin is now becoming powerful and the demand of people is getting higher so it is impossible for Bitcoin to be gone.

Topic: Can Bitcoin Ever Be Shutdown? (Read 2886 times)