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

sr. member

Activity: 434

Merit: 250

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

sr. member

Activity: 406

Merit: 250

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

newbie

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Resistance is futile: Can NOT kill Bitcoin.

ed_teech

hero member

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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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Activity: 1582

Merit: 1064

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

legendary

Activity: 1692

Merit: 1018

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

sr. member

Activity: 378

Merit: 250

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

legendary

Activity: 1512

Merit: 1012

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

newbie

Activity: 28

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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

newbie

Activity: 7

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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

legendary

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

EnfoncerQ2

newbie

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

zorke

full member

Activity: 238

Merit: 100

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.

BTCjust

sr. member

Activity: 241

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It's very simple, just let Lenin relived, then launch a revolution.

weather b0y4

newbie

Activity: 22

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naked short selling it down close to zero would be the worst mistake someone could make, but would make all of us very rich on the short squeeze Grin

Me? I would gain control of 99% of the hashrate and then stop mining the instant the block reward halves lol

have fun waiting for the difficulty to adjust in that scenario

Meuh6879

legendary

Activity: 1512

Merit: 1012

this is only 5% of bitcoin : http://www.coindesk.com/gallery-inside-top-bitcoin-mine-china/

note this : Each warehouse measured about 150 meters in length, by perhaps 20 meters wide… that’s around 3,000 square meters (32,000 ft2) In addition to the four standing warehouses, there was a steel frame that had already been erected and was awaiting completion,

so, 4 football hall ...it's only 5% of mining bitcoin power.

der_troll

sr. member

Activity: 602

Merit: 251

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.

gts476

full member

Activity: 210

Merit: 100

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?

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