Can Bitcoin Ever Be Shutdown? - page 19.

similarcryptos

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Quote from: Lieldoryn on October 19, 2017, 06:39:03 AM

Quote from: learner 7 on October 19, 2017, 06:22:43 AM

I agree that there is nothing eternal in this world and absolutely everything has its beginning and end, but I think that bitcoin is at the beginning of its journey and its end is still far away, although the events are developing very rapidly.

Bitcoin at the very beginning of his career and is very vulnerable right now. Users who use bitcoin for speculative operations and not allowed to develop trade with bitcoins. Without this, bitcoin will never become a currency and as soon as the price of it will rise to a maximum and will decrease the volatility we risk being in a bubble.

Yes i think by the time like from 5years from now the whole world will recognize bitcoin,and surely its value will be at its pick at that time.
Though i must say may be bitcoin will shut down by a country but it cannot be shutdown by the whole world.The technology behind it very strong as per me.

TheGodFather

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Quote from: yusufjalal on October 13, 2017, 07:12:12 AM

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

As to what has happened in China there really is a large possibility that it can be shutdown or banned entirely in a place or country. Woth this in minf it is almost a neccessity that we be able to be ambassadors of bitcoin to the public and society.

Lieldoryn

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Quote from: learner 7 on October 19, 2017, 06:22:43 AM

I agree that there is nothing eternal in this world and absolutely everything has its beginning and end, but I think that bitcoin is at the beginning of its journey and its end is still far away, although the events are developing very rapidly.

Bitcoin at the very beginning of his career and is very vulnerable right now. Users who use bitcoin for speculative operations and not allowed to develop trade with bitcoins. Without this, bitcoin will never become a currency and as soon as the price of it will rise to a maximum and will decrease the volatility we risk being in a bubble.

learner 7

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I agree that there is nothing eternal in this world and absolutely everything has its beginning and end, but I think that bitcoin is at the beginning of its journey and its end is still far away, although the events are developing very rapidly.

Bakemat

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Quote from: yusufjalal on October 13, 2017, 07:12:12 AM

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

Well its life, there's no permanent in this world our life will end of course the bitcoin too. Before it shutdown completely there's a sign that the bitcoin going to destroy or disappear completely if it continue to falling down it price.then the electricity too.bitcoin cannot access without electricity

braves182

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The BISTOX exchange - OWN WHAT YOU TRADE

It must happen which is a very serious event. Either this is a serious technical error in the system, and all bitcoins can either disappear or be stolen by a brilliant hacker. You can also consider the economic reason - the simultaneous prohibition of bitcoin by most of the major states of the world. Either the world will completely lose electricity and the Internet, but then nothing will happen to your bitcoins, since no one will have access to them, including you. But I do not consider these reasons real, these are only assumptions that are unlikely to ever happen.

Yakamoto

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Quote from: yusufjalal on October 13, 2017, 07:12:12 AM

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

Someone either has to completely obliterate the internet, meaning that everything is shut down aside from some very specific people having connections and completely prohibiting anyone from opening their own networks to the wider internet at large. This would mostly stop nodes and likely miners as well. But it would require a dramatic restructuring of the internet, and such an action would destabilize much of the world because they would suddenly cut people off from doing their own thing. Which is impossible.

Another thing they could do is go after literally any internet connection they see to the blockchain and execute people, but that's so fictitious it's not even funny.

fiulpro

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Hey

Everything is possible one way or the other in fact bitcoins can shut down ! But for that many countries have to be in agreement , sorry ALL , and its highly unlikely that if countries like Japan are willing to do this...
If its supposedly banned in some opther parts , it might well flourish in others.
There isn't any easy way out, countries have their veto power if they want to they will shut it down if they don't want to it will continue to flourish.
Right now many goverment have officially accepted bitcoins in their system thus governments are accepting bitcoins slowly!!!!! And you shouldn't think about the negative outcome.
Also you know there is another possibility, if the founder had some ulterior motives for example I have heard he is on an undercover mission to decrease the Value of dollar and maybe if he gets exposed then they may ban it because of illegality of this * But thats not true *
People can say what they want but in actual he brought a very nice change Cheesy

revolutionized d world!

Shishir99

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I would say it is literally impossible to fully shutdown bitcoin.
But if anyone want to shutdown bitcoin then he of she need to destroy the whole internet system first.
But it is not logical.
Otherwise bitcoin will exist in my opinion.

bitbob82

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Quote from: BitcoinsGreat on October 13, 2017, 03:13:48 PM

Quote from: yusufjalal on October 13, 2017, 07:12:12 AM

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

Electricity and internet connection, these both things are important for bitcoin and play an important part in bitcoins life. Of course you can't access your wallet without internet and electric power. Bitcoin is completely depends on both For example for mining you need electricity, for trade you need internet.

It is just like if we say that if there is no raw material of paper then the paper currency can be shut down. Of course as there is no chance of material for paper making to vanish from the world there is also no chance of electricity and internet to vanish. The major source which can shut down bit is government which can easily control bit coin website through cyber technology to not open in the their country.

Gameroid

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Quote from: Aba on October 13, 2017, 12:30:02 PM

which can shutdown the bitcoin is an internet connection that provides services to bitcoin, which can make bitcoin can not access by many people. and also country regulation can make shutdown of bitcoin

Bitcoin is directly depending on internet if there is internet in the world the bit coin will run otherwise the all the invested money in crypto currency will wash out and it can be just digital numbers. But i do not think that it will ever happen because bitcoin is the need of the day. The governments can also shutdown bit coin and other crypto currencies through cyber management if it is called illegal. But all these factors which can shut down is not possible. Because the internet expert have already pases aways such banned in past.

bncbnc

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Quote from: swiftblade on October 13, 2017, 05:11:27 PM

Quote from: ghost07 on October 13, 2017, 07:21:47 AM

Quote from: joseafonso123az on October 13, 2017, 07:15:12 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!

I agree if we dont have electrixity and internet bitcoin will die because it digital coin.

I am pretty sure about this. But let think wider, when electricity is shut down. Every aspect of this realm may be turn in disaster. In few country, there is so many Radioactive Nuclear Reactor that have coolling control system depents on electric. When electric is down, coolling system is disable. Huge Massive Explode begin to appear

I think science is becoming more and more advance with the passage of time therefore i think that there are very rare chances that electricity will down. even the backward countries are now producing electricity from solar energy, therefore i do not think that bitcoin will shutdown due to shutting down of electricity.

swiftblade

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Quote from: ghost07 on October 13, 2017, 07:21:47 AM

Quote from: joseafonso123az on October 13, 2017, 07:15:12 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!

I agree if we dont have electrixity and internet bitcoin will die because it digital coin.

I am pretty sure about this. But let think wider, when electricity is shut down. Every aspect of this realm may be turn in disaster. In few country, there is so many Radioactive Nuclear Reactor that have coolling control system depents on electric. When electric is down, coolling system is disable. Huge Massive Explode begin to appear

elliottflz65

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At the end of the day no one controls bitcoin and this is why so many countries like china and russia are afraid of the power that bitcoin can generate.

ChuckBuck

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better everyday ♥

Quote from: AntCoin_dev on October 13, 2017, 12:02:48 PM

Never happen this guys. If have a dead day

is not never happened. There is always a risk of bitcoin collapse. However, the odds to happen are very small. So, we do not need to worry. The existence of bitcoin depends entirely on the market.

cryptomato

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If you would ask this question few years ago, I could answer as yes but after this point nobody has power to shut it down. it's the inevitable reality at the moment and will be in the future.

Vaultbank.io

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It'll never be shut down on its own, but the value could go down to 0 if no one finds any value in it. Also as someone else mentioned, if the world lost power and the internet stopped forever, then it would be lost.

cshal

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I would say new more technically advanced technology will take over the world one day (Etherium?). And bitcoin will lose value and die out naturally due to luck of public interest. Other than that it has no real enemies

DG2000

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Well it is possible to that bitcoin may shut down because of the following reasons. Firstly as bitcoin is a digital form of currency/ cryptocurrencies. It can not be used if there is no electricity or internet, which will ultimately lead to its shut down. Secondly if governments of countries ban bitcoin then it will also lead to its shut down.

bettercrypto

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★Bitvest.io★ Play Plinko or Invest!

I think no because it is hard to shutdown. See the torrent file sharing? They can shutdown the site but they will never remove peers that were sharing the files. Same thing with bitcoin. As long as there is one person broadcasting the nodes and mining the chain, bitcoin will never be shutdown. That is the beauty of open sourced decentralized technology.

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