Can Bitcoin Ever Be Shutdown? - page 21.

Bay_Harbour_Butcher

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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?

maybe bitcoin will shut down due to zombie apocalypse, hehehehhe just kidding, I think the most plausible is when government bans everything that is cryptocurrency, and bitcoin is dead

bhabygrim

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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?

I don't think so. I think the bitcoin community will not be shut down, because there are lots of people using it around the world. In that case, the one who shut it down will receive tons of complains. Therefore, I think it can be shutdown, but no one dared yet. Lol. Grin

Rana590

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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?

I think there is no chance to shutdown Bitcoin. Generally it depends on internet connection based electricity. We are live in modern age now. So electricity and internet connectivity are available and will be future. Besides it, probably government can avoid this in some county but all over the world, it will be running.

whoisyourking

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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?

All things has their limitation internet is the main medium of bitcoin if the internet stops working bitcoin will stop too and If the government do intervention in bitcoin and banned it world wide.

Ausgewielt

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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?

I think it will never happen, what I know is bitcoin has no data center. So each peer has the contribution in bitcoin transaction. So I don't believe that bitcoin can be shutdown by people.

Dudeperfect

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Yes, there are several factors which could cause the wind up of the entire Bitcoin network but almost 99% of them are more theoretical and there is not even a little possibility of such incidents taking place.

However, while taking into consideration there are some practical causes which might cause trouble to the smooth functioning of the Bitcoin network and fork is the best example of it. Bitcoin is the only thing that could wind up Bitcoin.

Bessta

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No but there will be strict worldwide government financial regulation.

wellsontheja

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We can access btc because we had internet connection so without internet connection would kill btc because it's mean we can acces it and without electricity we can acces our hardware so without electricity and internet will kill btc for sure.

MisterPrada

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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?

I do not think that this network can now turn off something. It is not fixed for oil or gold. BitCoin costs about as much as it promises. Well, if you think globally, it can be set by another crypto currency.

CoinMoon

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Quote from: stugots2 on October 13, 2017, 06:31:43 AM

Can the Government step in?? I guess so

I don't think any Government would dare to "step in" or "kill bitcoin". Doing so would be akin (similar) to taking away peoples liberties in a total sense. Remember guys the power is in the people and sane Governments realize this. So in the end they will heed to the peoples will and thus allow Bitcoin/cryptos to flourish albeit within certain structures of some type of "law" or "laws" (to appear as if they are in control when infact they are not). The tides are changing guys and power is being redistributed, the DECENTRALIZED way

Proton2233

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Quote from: jackhdt on October 13, 2017, 08:02:24 AM

Quote from: Teraboy on October 13, 2017, 07:33:43 AM

Quote from: mostkey on October 13, 2017, 07:31:05 AM

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!

not just bitcoins that die if the electricity is turned off and the internet network removed. even the world will become chaotic, bitcoin will actually live even if electricity and internet die but access to use bitcoin missing, yaa this is actually our fear all, because I am sure 80% in this forum only have income through forum

Bitcoin still exist, but it'll completely make bitcoin stopped or can't active. all the hashpower is gone, none of transaction will be confirmed, even sending transaction is impossible, that mean in practical use, once internet destroyed, bitcoin will be gone.

that right, bitcoin still exist but It cannot be traded, it became not worth. bitcoin is money but cannot exchange it is removed.

I think that the actions of governments who want to ban bitcoins will be directed towards the prohibition of exchange transactions in Fiat. But it will not make sense if by that time there will be a trade bitcoins online shops. In some countries, users will have to convert the bitcoins to Fiat in exchange of other countries and send money from abroad to your Bank account.

ocid

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bitcoin can only be used by connecting through the internet network, the loss of internet network in the world will make all kinds of digital currency extinct because of the factors supporting the use of digital currency is the internet network itself. But the source of electricity is also a major factor causing the loss of internet network, so bitcoin will disappear even will be extinct due to these two factors, the absence of power source and internet network.

jackhdt

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Quote from: Teraboy on October 13, 2017, 07:33:43 AM

Quote from: mostkey on October 13, 2017, 07:31:05 AM

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!

not just bitcoins that die if the electricity is turned off and the internet network removed. even the world will become chaotic, bitcoin will actually live even if electricity and internet die but access to use bitcoin missing, yaa this is actually our fear all, because I am sure 80% in this forum only have income through forum

Bitcoin still exist, but it'll completely make bitcoin stopped or can't active. all the hashpower is gone, none of transaction will be confirmed, even sending transaction is impossible, that mean in practical use, once internet destroyed, bitcoin will be gone.

that right, bitcoin still exist but It cannot be traded, it became not worth. bitcoin is money but cannot exchange it is removed.

RayvenPierre

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How will bitcoin shut down if there isn't even anyone that has full control over it? Bitcoin is a decentralized bitcoin currency and yes there might be times that someone can try to manipulate the price but that will only be to a certain extent. As long as there is a demand for bitcoin it will never cease to exist.

Cointertrade

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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?

I think the only thing that make bitcoin shutdown completely is that if we lost our connection to bitcoin and most especially is the internet to work with bitcoin.

Ucy

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If you mean shutting down your own Network, I guess yes. That's is the best way anyone who don't like Bitcoin can stayoff without hurting the general Bitcoin Network. Global shutdown is impossible without shutting down the internet aswell.

Fazlurkhan.kz

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Making of new Bitcoins might stop. But it's circulation won't. As people who would have a hope that Bitcoin would return will exist so, it won't completely get disappeared. But if one has to completely shutdown btc, there should be no electricity and internet. Only then might Bitcoin get completely of no use!

X7

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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 be extremely difficult given the moderate amount of decentralisation in play

Teraboy

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Quote from: mostkey on October 13, 2017, 07:31:05 AM

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!

not just bitcoins that die if the electricity is turned off and the internet network removed. even the world will become chaotic, bitcoin will actually live even if electricity and internet die but access to use bitcoin missing, yaa this is actually our fear all, because I am sure 80% in this forum only have income through forum

Bitcoin still exist, but it'll completely make bitcoin stopped or can't active. all the hashpower is gone, none of transaction will be confirmed, even sending transaction is impossible, that mean in practical use, once internet destroyed, bitcoin will be gone.

mostkey

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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!

not just bitcoins that die if the electricity is turned off and the internet network removed. even the world will become chaotic, bitcoin will actually live even if electricity and internet die but access to use bitcoin missing, yaa this is actually our fear all, because I am sure 80% in this forum only have income through forum

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