Can Bitcoin Ever Be Shutdown? - page 10.

Memminger

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Quote from: joseafonso123az on October 13, 2017, 06:15:12 AM

Well, no electricity, and no internet connection would kill BTC for sure! You wouldn't be able to make any transactions without these.
Other issue can be all the countries in the world ban BTC, but this will not restrict it's circulation, as no internet connection do!

Exactly sir. It's just a matter of fact that btc won't function without electricity and internet. I do believe it won't die just because of the bad articles regarding scam and stuff but the lose of internet and electricity will.

Astermony

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Quote from: aboy24 on October 13, 2017, 06:46:52 AM

in myself bitcoins is not shutdown, because every minutes bitcoins is high and high demand in every country, so many renewable energy technology is made, so bitcoins is not shutdown in electricity issues. on internet issue many of country has a free internet in super high speed internet connection, if many people loves bitcoins, so many people invented the way that the bitcoins prevent shutdown Wink

Yes I agree with you. There are a lots of supporter of bitcoin so it is impossible to be shutdown. I think theres no reason to shutdown bitcoin. Even though it has a low value now adays but it is not an excuse to shutdown it because users believe that it will high.

tayogpanganiban

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The Pure Proof-of-Tansaction [POT]

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?

I hope this will not be happen because there are so many people that will lose their source of income especially for me that has no job at all and only depending in signature or bounty campaigns.

qyn0

newbie

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I think not! The price is a very important thing in the bitcoin future! If the price goes down the mining price then is a problem!

MoeKaloolon

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There is no way to shut down bitcoin unless you plan on shutting down the internet, it is something that will remain for a long time, all you as an investor needs to worry about is securing your coins.

gtx1060aa

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Well, no electricity, and no internet connection would kill BTC for sure! You wouldn't be able to make any transactions without these.
Other issue can be all the countries in the world ban BTC, but this will not restrict it's circulation, as no internet connection do!

alexxx22

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I think some danger to bitcoin is the jurisdiction of some countries, this more affects distibution than technical problems

KITTY 0108

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It might be possible.

vasilvas15

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Stop bitcoin is impossible, it can not be controlled by one or a group of people. One can only beat the bitcoin, those who have a large percentage of all bitcoins, but then all the crypto-currencies will collapse, and with them the world economy as well. There will be a disaster.

fanhuaijiao713

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BTC is a huge book that exists on the Internet!

To close the BTC needs to close the block chain so BTC user's network, this seems very difficult to achieve!

BTC will only die because of the Internet shutdown.

fortuneteller

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Quote from: joseafonso123az on October 13, 2017, 06:15:12 AM

Well, no electricity, and no internet connection would kill BTC for sure! You wouldn't be able to make any transactions without these.
Other issue can be all the countries in the world ban BTC, but this will not restrict it's circulation, as no internet connection do!

Definitely, and if i may add END OF THE WORLD?. (Smiling) bringing bitcoin to a total shutdown is like waiting for the ocean to dry, possible but it'll take time and it'll happen in differrent places first, different scenarios and different reasons.

fronaqtitle

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KingOfWinterfell01

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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?

It would take a lot of manpower and horsepower alike to shutdown bitcoins. Bitcoins move and be sent to other wallets thru the blockchain. The blockchain is an online ledger that's updated regularly by a lot of computers. This means you have to hack into millions of computers to do so.

jademacoy

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It takes a strong will from the government to shut down the bitcoin system. Somehow even if the government would likely to shutdown bitcoin system in their respect area yet people who are already establishing the bitcoin investment may still invest without their permission. I guess stopping individual to invest in bitcoin is impossible since they are already use to it and some of them are already addicted in bitcoin investment just like gambling. In my opinion bitcoin is just like gambling that you should take the risk on it but somehow bitcoin makes it difference from gambling because bitcoin has greater chance that will composed of i guess more or less 85% of chance to profit in bitcoin investment. So most of the time if you invest in bitcoin you will always get profit.

TomUyamot

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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?

It is very easy. Turn off the internet, everything will die. If that is not enough then turn off the electricity and it will cause a bigger trouble and Bitcoin might finally die with it. If that is not enough again for people to stop using Bitcoin then a ban on all gadgets and technological instruments such as laptops and personal computers could be added, and everything will definitely be gone. Apart from all these, Bitcoin will continue to exist and people will always be supporting it.

boddy.dy

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I guess bitcoin can never be shutdown. I admit that my first impression with bitcoin is that this will not last for long time and will be shut down in just couple of years. But look now where is bitcoin, it is on the top of among of the crypto currency. Also almost all the grown business industries were associated with bitcoin or using bitcoin now. That is now strong bitcoin in this day, strong enough that no one can ever shut down this. Surely if someone is planning to shut down this they will never win because much more people will protect the bitcoin because they don’t want to lose bitcoin and their source of income.

markdario112616

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Quote from: Finnisd on April 06, 2018, 04:45:46 AM

To stop the bitcoin network, you need to stop investing and using crypto currency

Based on what you've said, Bitcoin would still continue its thing. You only cut down the supply and demand factor but that doesn't enough. Bitcoin is a digital currency by means internet is its home, in which it could still support itself. Since we are also now in a technological advances Bitcoin is now part of the economic contributor for some countries (might still be low but noticeable).

s2sallbygrace

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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 relies on electricity and most importantly internet connection. If by any chance internet connection has been shutdown, definitely all cryptocurrency transactons will stop. We can only use bitcoin and other cryptocurrency transactions with the help of the internet and without it no transactions will be made.

egoryana

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The lack of Internet and electricity around the world can "freeze" the network of bitcoins

Flight-87

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Quote from: joseafonso123az on October 13, 2017, 06:15:12 AM

Well, no electricity, and no internet connection would kill BTC for sure! You wouldn't be able to make any transactions without these.
Other issue can be all the countries in the world ban BTC, but this will not restrict it's circulation, as no internet connection do!

These are from technical/logical point of view. However what's most important here is I don't really think that Governments don't really want to kill it. The CEO of VISA said crypto is run by dirty politicians and I do believe that too! They wants to make money out of this game. And at least for this reason this Monkey Business kind of economy is not going to get shut anytime soon IMHO.

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