How I would try to kill bitcoin | Bitcointalksearch.org

TheGull

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Quote from: der_troll on September 12, 2014, 01:45:25 PM

I would kill it the same way they are killing it now. Accept it everywhere and make it hard to buy it. This results in lot of sellers and few buyers = price going down.

Fair call I reckon.

Add a layer of ugly regulation on top of this and we could be in trouble.

Possum577

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Loose lips sink sigs!

Quote from: EnfoncerQ2 on September 13, 2014, 10:06:10 AM

It's impossible to kill bitcoin, without killing planet earth.

What if I killed electricity?

azguard

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Quote from: Cluster2k on September 13, 2014, 11:19:57 PM

How to kill bitcoin:

1. Declare it illegal within a country. Local banks can't cooperate with exchanges and it makes buying bitcoins more difficult.

2. If 1 is not possible, require users to hand over passport/driver's license info to trade. Many people feel uncomfortable with this (hello MtGox).

3. Declare bitcoins a commodity for tax purposes. This means calculating capital gains tax every time the user buys or sells. Accounting nightmare for most people.

4. Launch campaign against bitcoin stating it's used for little else but trading drugs, child porn, and funding terrorism.

5. Ask the NSA to build a mining cluster and launch a 51% attack. Instantly force the value of everyone's bitcoins to zero as no one will want to trade a commodity that is invalidated by a third party.

#5 is the nuclear option. Don't see it happening unless whole countries start using bitcoin and the USD$ is threatened.

This is excellent concept seem like all can happen in some sort of scenario only which one.
Hope that no of this will happen

Exoth

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Lol killing bitcoin is useless, its like a phoenix. It'll just come back.

criptix

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there is no way to kill bitcoin completely without killing the internet or the network which bitcoin communicates through.

my way of killing bitcoin would be several nukes placed around the world and detonating them in an altitude of several hundred kilometers.
that would probaly destroy most eletronic circuits on planet earth.
i dont think people will use bitcoin on the spare working electronic devices mankind still have ( probaly wouldnt even have the electricity to power it).

oceans

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There are probably many ways to kill bitcoin but it's having the ability to do it to be honest. Without physically shutting down the whole internet where bitcoin runs there may be a problem completely killing it off.

FuckItWhatever

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Resistance is futile: Can NOT kill Bitcoin.

ed_teech

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Jahaha

Quote from: gts476 on September 12, 2014, 11:12:08 AM

So if I were .gov then I would create an ETF and then hammer BTC to death with naked shorts of my monopoly paper.

How would you try to kill bitcoin?

You just have to keep exchanges at this time. If nobody can live through their bitcoin, it becomes worthless.

botany

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Quote from: Cluster2k on September 13, 2014, 11:19:57 PM

How to kill bitcoin:

1. Declare it illegal within a country. Local banks can't cooperate with exchanges and it makes buying bitcoins more difficult.

2. If 1 is not possible, require users to hand over passport/driver's license info to trade. Many people feel uncomfortable with this (hello MtGox).

3. Declare bitcoins a commodity for tax purposes. This means calculating capital gains tax every time the user buys or sells. Accounting nightmare for most people.

4. Launch campaign against bitcoin stating it's used for little else but trading drugs, child porn, and funding terrorism.

5. Ask the NSA to build a mining cluster and launch a 51% attack. Instantly force the value of everyone's bitcoins to zero as no one will want to trade a commodity that is invalidated by a third party.

#5 is the nuclear option. Don't see it happening unless whole countries start using bitcoin and the USD$ is threatened.

This nuclear option would start an arms race between countries.

Cluster2k

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How to kill bitcoin:

1. Declare it illegal within a country. Local banks can't cooperate with exchanges and it makes buying bitcoins more difficult.

2. If 1 is not possible, require users to hand over passport/driver's license info to trade. Many people feel uncomfortable with this (hello MtGox).

3. Declare bitcoins a commodity for tax purposes. This means calculating capital gains tax every time the user buys or sells. Accounting nightmare for most people.

4. Launch campaign against bitcoin stating it's used for little else but trading drugs, child porn, and funding terrorism.

5. Ask the NSA to build a mining cluster and launch a 51% attack. Instantly force the value of everyone's bitcoins to zero as no one will want to trade a commodity that is invalidated by a third party.

#5 is the nuclear option. Don't see it happening unless whole countries start using bitcoin and the USD$ is threatened.

rayhan

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be your self

just kill us all bitcoin users Roll Eyes

CraftingTable

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you would need to shut down the entire internet, good luck

Meuh6879

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gts476

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Quote from: MellisaBTC on September 13, 2014, 10:56:22 AM

Quote from: EnfoncerQ2 on September 13, 2014, 10:06:10 AM

It's impossible to kill bitcoin, without killing planet earth.

Its easy to kill bitcoin, if every country ban bitcoin and you would see price crash to 1$. Then all asic would have to shut down since its paying more electricity..

Meuh6879

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Activity: 1512

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Quote from: Wilhelm on September 13, 2014, 10:13:25 AM

Crack ECDSA or SHA256 and RIPMD160. Then steal all coins and sell them Cool

freezing blockchain by developper + correction = problem solve in less than a day.
Grin

community is awesome.

EnfoncerQ2

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Quote from: MellisaBTC on September 13, 2014, 10:56:22 AM

Quote from: EnfoncerQ2 on September 13, 2014, 10:06:10 AM

It's impossible to kill bitcoin, without killing planet earth.

Its easy to kill bitcoin, if every country ban bitcoin and you would see price crash to 1$. Then all asic would have to shut down since its paying more electricity..

So what, USD and EUR will collapse, people will store value in BTC anyway, and when the collapse happens, BTC will sky rocket and you'll be butthurt because you got scared away by muh goverment.

MellisaBTC

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Quote from: EnfoncerQ2 on September 13, 2014, 10:06:10 AM

It's impossible to kill bitcoin, without killing planet earth.

Its easy to kill bitcoin, if every country ban bitcoin and you would see price crash to 1$. Then all asic would have to shut down since its paying more electricity..

Wilhelm

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Crack ECDSA or SHA256 and RIPMD160. Then steal all coins and sell them Cool

EnfoncerQ2

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It's impossible to kill bitcoin, without killing planet earth.

zorke

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Quote from: gts476 on September 12, 2014, 11:12:08 AM

So if I were .gov then I would create an ETF and then hammer BTC to death with naked shorts of my monopoly paper.

How would you try to kill bitcoin?

Naked shorting of a stock (including ETFs) is actually illegal. In order to sell a security you need to either own it or have the ability to borrow it and actually do so. The person you are borrowing from is not able to sell their shares unless you were to cover your short position.

Topic: How I would try to kill bitcoin (Read 1758 times)