Topic: How Bitcoin will die - page 2. (Read 3819 times)
Bitcoin will die someday, not in the way OP described. He is spreading FUD.
With all your rosy predictions, why should Bitcoin die someday? How do you know it will die but not in the manner I predict? My predictions are specific, with reasons given, not vague like your "someday", "somehow" prediction.
It's scary what's happening to BTC. (un) Happy Halloween!
Regulation is not going to kill bitcoin but legitimizes it. Fall in price may hurt hoarders, but promotes mass adoption. Blockchain prunning is in the works. Besides, there are light wallets available, users do not have to use online wallets.
Bitcoin will die someday, not in the way OP described. He is spreading FUD.
Bitcoin will die someday, not in the way OP described. He is spreading FUD.
Don't forget we have " REVIVAL " word , bitcoin will survive no matter happen in this world.couple months ago i feel bitcoin will dead because some country in the world began to banned bitcoin.
Gox problem , massive hacking , massive dumping etc .But Bitcoin still survive
Bitcoin has died about 30 times...if the media had the ability to kill it, it would have died a long time ago.
If it bleeds, it leads...I hear you. But when has Bitcoin had such a sustained (about 8 months or so) price decline? That has to worry the BTC longs.
$32 to $2 took a long time. We were down for almost 2 years from the $32 high.
In the meantime...people started working on their bitcoin businesses.
So that's the end of Bitcoin then
http://www.forbes.com/sites/timworstall/2011/06/20/so-thats-the-end-of-bitcoin-then/
http://www.forbes.com/sites/timworstall/2011/06/20/so-thats-the-end-of-bitcoin-then/
Is this a reason #8 Elwar? Since in my original list I don't have "another Mt. Gox happens", but it's a good point.
Bitcoin has died about 30 times...if the media had the ability to kill it, it would have died a long time ago.
If it bleeds, it leads...I hear you. But when has Bitcoin had such a sustained (about 8 months or so) price decline? That has to worry the BTC longs.
Here's how Bitcoin becomes extinct, or, like the Coelacanth, becomes very rare.
1) Price continues to drop. BearWhale comes back and dumps a load, causing fellow whales to dump a load, causing feedback that causes a crash back to the teens
2) Media picks up on 1), says: "BTC dead"
3) Congressmen, like Charles Ellis "Chuck" Schumer, who is a BTC-hater, start zeroing in on more Bitcoin regulation, like Schumer's proposed FinCen stuff. This might increase if the Republican's lose the Senate in November, or, if bitcoin is linked to the 'war on drugs' it might not matter if the Republicans win or not.
3b) ...FinCen will require each and every Bitcoin user that uses a US-based bitcoin exchange to file paperwork every year if the amount transacted in one year surpasses 10k USD.
4) Due to technical factors like the increasing size of the blockchain, a lot of users will start using online wallets. This will negate privacy due to 3b)
5) other crypto-coins that have more inflation and more transparency will be seen by corporations as more stable.
5B) Walmart and others adopt "CircleC": https://www.cryptocoinsnews.com/apple-pay-rejected-by-walmart-and-best-buy/ and they specifically reject Bitcoin
6) another major Silk Road bust occurs. Already Silk-road substitutes are in greater demand and in greater numbers that before (source: http://www.coindesk.com/silk-road-one-year/ ). This scares Joe and Sally Average into dumping their bitcoin, especially when Schumer attacks bitcoin holders as promoting drug use. Drug lords switch to DarkCoin or some other cryptocurrency and this snowballs amongst actual users of Bitcoin (as opposed to the buy and hold speculators).
7) A hard fork or some technical glitch (like https://bitcoin.org/en/alert/2013-03-11-chain-fork) knocks out bitcoin, further causing big corporations to distrust it
Anything else? I'm sure I forgot something...list your FUD and bugaboos here!
1) Price continues to drop. BearWhale comes back and dumps a load, causing fellow whales to dump a load, causing feedback that causes a crash back to the teens
2) Media picks up on 1), says: "BTC dead"
3) Congressmen, like Charles Ellis "Chuck" Schumer, who is a BTC-hater, start zeroing in on more Bitcoin regulation, like Schumer's proposed FinCen stuff. This might increase if the Republican's lose the Senate in November, or, if bitcoin is linked to the 'war on drugs' it might not matter if the Republicans win or not.
3b) ...FinCen will require each and every Bitcoin user that uses a US-based bitcoin exchange to file paperwork every year if the amount transacted in one year surpasses 10k USD.
4) Due to technical factors like the increasing size of the blockchain, a lot of users will start using online wallets. This will negate privacy due to 3b)
5) other crypto-coins that have more inflation and more transparency will be seen by corporations as more stable.
5B) Walmart and others adopt "CircleC": https://www.cryptocoinsnews.com/apple-pay-rejected-by-walmart-and-best-buy/ and they specifically reject Bitcoin
6) another major Silk Road bust occurs. Already Silk-road substitutes are in greater demand and in greater numbers that before (source: http://www.coindesk.com/silk-road-one-year/ ). This scares Joe and Sally Average into dumping their bitcoin, especially when Schumer attacks bitcoin holders as promoting drug use. Drug lords switch to DarkCoin or some other cryptocurrency and this snowballs amongst actual users of Bitcoin (as opposed to the buy and hold speculators).
7) A hard fork or some technical glitch (like https://bitcoin.org/en/alert/2013-03-11-chain-fork) knocks out bitcoin, further causing big corporations to distrust it
Anything else? I'm sure I forgot something...list your FUD and bugaboos here!
I almost expect this to happen
So that's the end of Bitcoin then
http://www.forbes.com/sites/timworstall/2011/06/20/so-thats-the-end-of-bitcoin-then/
http://www.forbes.com/sites/timworstall/2011/06/20/so-thats-the-end-of-bitcoin-then/
Bitcoin has died about 30 times...if the media had the ability to kill it, it would have died a long time ago.
Here's how Bitcoin becomes extinct, or, like the Coelacanth, becomes very rare.
1) Price continues to drop. BearWhale comes back and dumps a load, causing fellow whales to dump a load, causing feedback that causes a crash back to the teens
2) Media picks up on 1), says: "BTC dead"
3) Congressmen, like Charles Ellis "Chuck" Schumer, who is a BTC-hater, start zeroing in on more Bitcoin regulation, like Schumer's proposed FinCen stuff. This might increase if the Republican's lose the Senate in November, or, if bitcoin is linked to the 'war on drugs' it might not matter if the Republicans win or not.
3b) ...FinCen will require each and every Bitcoin user that uses a US-based bitcoin exchange to file paperwork every year if the amount transacted in one year surpasses 10k USD.
4) Due to technical factors like the increasing size of the blockchain, a lot of users will start using online wallets. This will negate privacy due to 3b)
5) other crypto-coins that have more inflation and more transparency will be seen by corporations as more stable.
5B) Walmart and others adopt "CircleC": https://www.cryptocoinsnews.com/apple-pay-rejected-by-walmart-and-best-buy/ and they specifically reject Bitcoin
6) another major Silk Road bust occurs. Already Silk-road substitutes are in greater demand and in greater numbers that before (source: http://www.coindesk.com/silk-road-one-year/ ). This scares Joe and Sally Average into dumping their bitcoin, especially when Schumer attacks bitcoin holders as promoting drug use. Drug lords switch to DarkCoin or some other cryptocurrency and this snowballs amongst actual users of Bitcoin (as opposed to the buy and hold speculators).
7) A hard fork or some technical glitch (like https://bitcoin.org/en/alert/2013-03-11-chain-fork) knocks out bitcoin, further causing big corporations to distrust it
Anything else? I'm sure I forgot something...list your FUD and bugaboos here!
1) Price continues to drop. BearWhale comes back and dumps a load, causing fellow whales to dump a load, causing feedback that causes a crash back to the teens
2) Media picks up on 1), says: "BTC dead"
3) Congressmen, like Charles Ellis "Chuck" Schumer, who is a BTC-hater, start zeroing in on more Bitcoin regulation, like Schumer's proposed FinCen stuff. This might increase if the Republican's lose the Senate in November, or, if bitcoin is linked to the 'war on drugs' it might not matter if the Republicans win or not.
3b) ...FinCen will require each and every Bitcoin user that uses a US-based bitcoin exchange to file paperwork every year if the amount transacted in one year surpasses 10k USD.
4) Due to technical factors like the increasing size of the blockchain, a lot of users will start using online wallets. This will negate privacy due to 3b)
5) other crypto-coins that have more inflation and more transparency will be seen by corporations as more stable.
5B) Walmart and others adopt "CircleC": https://www.cryptocoinsnews.com/apple-pay-rejected-by-walmart-and-best-buy/ and they specifically reject Bitcoin
6) another major Silk Road bust occurs. Already Silk-road substitutes are in greater demand and in greater numbers that before (source: http://www.coindesk.com/silk-road-one-year/ ). This scares Joe and Sally Average into dumping their bitcoin, especially when Schumer attacks bitcoin holders as promoting drug use. Drug lords switch to DarkCoin or some other cryptocurrency and this snowballs amongst actual users of Bitcoin (as opposed to the buy and hold speculators).
7) A hard fork or some technical glitch (like https://bitcoin.org/en/alert/2013-03-11-chain-fork) knocks out bitcoin, further causing big corporations to distrust it
Anything else? I'm sure I forgot something...list your FUD and bugaboos here!
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