How do you think bitcoin will be wiped out?

pflmagic

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Quote from: Opquar on November 11, 2017, 01:33:30 AM

Maybe before we ask 'how bitcoin will be wiped out' we could ask 'how will the current version of bitcoin be wiped out? (to be replaced be another 2x, cash, gold etc)"?

Simple. By having a fork that is actually supported by the majority of the community. That means core must support it first, which makes the process kind of centralized.

Agreed, but that's generally speaking... Your statement is like saying 'Eth will be worth $400 when the community values it as that much", its an accurate statement but obvious.

Without trying to come across as malicious when do you think this is going to happen? Do you see any competitors in the near futute?

Also what if Bitcoin doesn't get 'wiped out' but offchain atomic swaps just dissolve it into a class of popular coins?

Thanasis

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I don't think bitcoin will extinct,but if that happens then it will be the end of all the crypto currency no crypto can survive if the bitcoin doesn't because the bitcoin is the king of crypto world.But the bitcoin cannot be wiped out because bitcoins are all over the world the only chance is if all the countries banned bitcoin at a time then bitcoin will be worthless because investing on them is illegal if they are banned.Bitcoin don't go anywhere but the prize becomes zero if that happened that means the end of bitcoin.

James_H

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how could bitcoin be abolished, while there are still many people who use bitcoin and there is still internet network, if both of those things are gone there maybe bitcoin will be abolished but that in my opinion impossible

Joyawan13

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elysian.finance

I agree that bitcoin will not be erased, and nobody will be able to remove it or shut it down, because bitcoin is getting ahead its progress is getting better, and many people use bitcoin to be invested. and bitcoin until now I think it is good to be an investment.

Shinza

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Quote from: leisha on September 27, 2017, 03:22:01 AM

I really wonder how and what will happen if bitcoin will be wiped out. What will happen to cryptocurrency, bitcoiners, and other altcoins if bitcoin is gone...?? Huh

Basically the internet is too large for them to manage all crypto transactions. So, if btc or altcoins disappear then that is also the day when the world no longer exists. But I do not think that's going to happen now, so many countries have announced their acceptance of btc and other virtual currencies as a payment method and most of them are big, have the strong economy in the world. So you do not need to worry about this. The worry is that your country will ban btc and altcoins. No one likes it.

Yakamoto

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Quote from: leisha on September 27, 2017, 03:22:01 AM

I really wonder how and what will happen if bitcoin will be wiped out. What will happen to cryptocurrency, bitcoiners, and other altcoins if bitcoin is gone...?? Huh

You'd need to have the entire network collapse, either due to everyone leaving the community and shutting down their nodes and mining operations, or due to some extraneous circumstance which forces them to be shut down, such as a large government crackdown and/or censorship for Bitcoin-related content and traffic or a severing of connections due to warfare, terror, etc. which would completely disrupt the network for a long period of time with zero inter connectivity between users.

This is essentially impossible to have happen for the time being, and if such things were to happen there would be a lot more issues than just worrying about Bitcoin.

btcminer6212

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Quote from: johnwest on November 11, 2017, 01:15:31 AM

I think it will be too hard for any other altcoin to even replace Bitcoin in 2-3 years, so wiping out completely is out of the question here. We may see some clashes between miners and community but extinction is illogical at this moment.

i think if bitcoin will drop in continuous period with passage of time .and also if other digital currency gives more profit this is the reason that .if bitcoin will be wiped out in the future.

Opquar

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Quote from: ?? on ??

Maybe before we ask 'how bitcoin will be wiped out' we could ask 'how will the current version of bitcoin be wiped out? (to be replaced be another 2x, cash, gold etc)"?

Simple. By having a fork that is actually supported by the majority of the community. That means core must support it first, which makes the process kind of centralized.

johnwest

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I think it will be too hard for any other altcoin to even replace Bitcoin in 2-3 years, so wiping out completely is out of the question here. We may see some clashes between miners and community but extinction is illogical at this moment.

mhayandal

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it is impossible to wipe out the bitcoin, unless the internet will lose and no man will invest and trade their token and coins in the market.

whoisyourking

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Quote from: leisha on September 27, 2017, 03:22:01 AM

I really wonder how and what will happen if bitcoin will be wiped out. What will happen to cryptocurrency, bitcoiners, and other altcoins if bitcoin is gone...?? Huh

Dont wonder what will happen to us or to all bitcoin user. just think how bitcoin will wiped out there is no way bitcoin will wiped out its already distributed ta all users so the its depends on how the users will use bitcoin. Internet is the only thing that can wiped out bitcoin.

Argoo

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If bitcoin simply disappears imperceptibly, the altcoyins will be able to exist and develop independently. Already quite a good experience has been accumulated in cryptothermia and the process of developing crypto currency can not be stopped. Yes, I can not imagine the situation under which bitcoin suddenly disappears. Now a lot of his clones are being created, so the main ideas of bitcoin will always live.

acmagbanua21

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This bitcoin play's a important role in my life without this i would not be able to help my family in terms of financial needs.
But i know this bitcoin will never be wiped out, because this cryptocurrency has a big potential and maybe become our major currency, it is because there s an internet.If this bitcoin will be wiped out all bit-coiners will go back to its original life when they didn't even no what is bitcoin.

weredo911

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Who can make Bitcoin disappear? The answer is no one. Bitcoin is based on blockchain platform, no one can control. Unless the Earth is destroyed. :v

donaltrump8

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Quote from: leisha on September 27, 2017, 03:22:01 AM

I really wonder how and what will happen if bitcoin will be wiped out. What will happen to cryptocurrency, bitcoiners, and other altcoins if bitcoin is gone...?? Huh

i don't think bitcoin and other altcoin will be wiped out And i will never think it will die . Bitcoin and other altcoins will die on the condition that there is no internet

De Suga09

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Quote from: krauzzer02 on September 27, 2017, 03:30:35 AM

It is impossible to wipe out bitcoin, why? because it is a decentralized currency, you need to deal with every people who use and mine bitcoin, because the people itself owns the bitcoin, if they're really want to make bitcoin erased then they need to shutdown the whole internet, because bitcoin uses internet to transact.

It is hard to imagine how bitcoin can be eliminated. Maybe if internet suddenly shuts down but it is impossible because internet is life nowadays. Everything can be operated thru the internet so goes with bitcoin.

Nawaytes

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I think Bitcoin can only be destroyed in 2 ways:

1. No electricity (due to war or disaster) which means the internet will no longer exist.
2. There are richest people who buy all the bitcoins and never sell them.

The first way will make all cryptocoin (BTC and Altcoin) die because there is no internet network. Whereas the second way just make Bitcoin die, but not with altcoin. CMIIW.

kpcian

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I don't believe that Bitcoin will be wiped out in the future as a whole. Day by day Bitcoin is getting popular around the world, Though Bitcoin is as an automated system so there is a little chance to be disappeared of Bitcoin.
If you have taken an example like China then you can be able to see that Bitcoin has come back strongly in spite of regulating panic of the Chinese government, from this case we can learn that Bitcoin is not a simple thing that can be wiped out completely.

bitjoin

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Quote from: Makar88 on November 01, 2017, 03:17:03 AM

Bitcoin, which undermines the monopoly of states to issue money and prevents them from manipulating the economy in favor of those in power, is increasingly irritating the governments of many countries.
That is why sooner or later governments will bring down bitcoin.

They wanted to bring down or control the internet but that never worked out. The gov can cause some damage but the whole gov idealogy is only strong to a point. I dont think they can stop true change over years/decades, they never have.

katulus

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I think Hashgraph has some potential to shake up the crypto world in the future. But ATM Bitcoin is doing all time high again so maybe nothing to happen in the near future.

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