In what situation would Bitcoin die? - page 110.

deisik

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Quote from: susila_bai on March 02, 2017, 09:18:54 AM

Quote from: Ewinsane on February 23, 2017, 02:42:28 PM

Quote from: guoyu78 on February 23, 2017, 02:24:29 PM

Quote from: Teemotje on February 22, 2017, 09:02:35 AM

The only way Bitcoin will ever die is if the internet dies or when the worth drops to zero. I don't think that the internet will die because it is something almost everyone uses en need.
And also that the worth of the Bitcoin will drop to zero because it is being used by more people each day.

you are right when internet dies then bitcoin will be die but it really impossible and internet would be never die and bitcoin is depend on internet and there a lot of users of bitcoin and more people adopting bitcoin.

it mean bitcoin will never die because internet technology is permanent and its true that bitcoin depend on internet and we know that bitcoin digital currency just using through internet and i am sure internet internet will be survive forever.

I dont agree with your point of Internet cannot die, what if all the servers are got crashed due to some natural calamities then what can you do, Their is always possibilities of 1% chance of anything can happen, Bitcoin relies on Internet and what if Internet got crashed due to natural calamities like their is full of unnatural floods, earth quakes nothing can stop it

The sleep of reason produces monsters

If all the servers are brought down, that should be a calamity of such scale that Bitcoin might be the last thing you would then care for, like a huge asteroid hitting the Earth. Floods and earthquakes are unlikely to bring the whole Internet down, though they can certainly render connections between continents close to useless. There would still be satellites transmitting data between distant countries but I don't know if they would suffice to support Internet integrity at large

aardvark15

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I think there are two ways Bitcoin could die:

1) Bitcoin could fail to get widespread adoption and acceptance by merchants, users, or investors so the demand could drop and then the value would drop.

2) Governments could ban Bitcoin or regulate it to the point that no one wants to use it any more.

carriebee

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I think bitcoin will die if lack of supply and demands. If no one already will use or will stop using bitcoin. The other way I think is bitcoin will permanently be banned by the government. These are the reason or cause I think bitcoin would dies.

susila_bai

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Quote from: Ewinsane on February 23, 2017, 02:42:28 PM

Quote from: guoyu78 on February 23, 2017, 02:24:29 PM

Quote from: Teemotje on February 22, 2017, 09:02:35 AM

The only way Bitcoin will ever die is if the internet dies or when the worth drops to zero. I don't think that the internet will die because it is something almost everyone uses en need.
And also that the worth of the Bitcoin will drop to zero because it is being used by more people each day.

you are right when internet dies then bitcoin will be die but it really impossible and internet would be never die and bitcoin is depend on internet and there a lot of users of bitcoin and more people adopting bitcoin.

it mean bitcoin will never die because internet technology is permanent and its true that bitcoin depend on internet and we know that bitcoin digital currency just using through internet and i am sure internet internet will be survive forever.

I dont agree with your point of Internet cannot die, what if all the servers are got crashed due to some natural calamities then what can you do, Their is always possibilities of 1% chance of anything can happen, Bitcoin relies on Internet and what if Internet got crashed due to natural calamities like their is full of unnatural floods, earth quakes nothing can stop it.

alisus

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Once your many questions, how Bitcoin will also ending up and die? It will not happen because Bitcoin is not a game and is included supporting the necessities of life as well as other appropriate means of payment for bitcoin is still favored by many people that will not happen let alone the more grown Bitcoin trading worldwide The show is to grow people who like Bitcoin

Ewinsane

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Quote from: guoyu78 on February 23, 2017, 02:24:29 PM

Quote from: Teemotje on February 22, 2017, 09:02:35 AM

The only way Bitcoin will ever die is if the internet dies or when the worth drops to zero. I don't think that the internet will die because it is something almost everyone uses en need.
And also that the worth of the Bitcoin will drop to zero because it is being used by more people each day.

you are right when internet dies then bitcoin will be die but it really impossible and internet would be never die and bitcoin is depend on internet and there a lot of users of bitcoin and more people adopting bitcoin.

it mean bitcoin will never die because internet technology is permanent and its true that bitcoin depend on internet and we know that bitcoin digital currency just using through internet and i am sure internet internet will be survive forever.

deisik

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Quote from: Xenophoto on February 23, 2017, 11:39:55 AM

Quote from: deisik on February 23, 2017, 02:06:15 AM

Quote from: Xenophoto on February 22, 2017, 10:01:18 AM

Quote from: Teemotje on February 22, 2017, 09:02:35 AM

The only way Bitcoin will ever die is if the internet dies or when the worth drops to zero. I don't think that the internet will die because it is something almost everyone uses en need.
And also that the worth of the Bitcoin will drop to zero because it is being used by more people each day.

But a day might come that a better coin will kill bitcoin. For example, a perfect copy of bitcoin but has the problems of transaction time, block size, transaction fee, etc. all solved. People would slowly migrate to that particular coin when online exchangers have started to come up. Keep in mind that bitcoin is just a prototype, it's still an experiment that we would eventually have to update. There's the SegWit update, hard fork, etc. and there's been so much discussion about which one's better and why is it not advisable to update all these

That will be nowhere near enough

Litecoin can be loosely considered as such a perfect copycat of Bitcoin. It has 4x block size as well as 4x less confirmation times (1 confirmation takes around 2.5 minutes, if I'm not mistaken) combined with low transaction fees. It was the second cryptocurrency ever (after Bitcoin itself), and so what? It took off in October, 2011, i.e. more than 5 years ago, so people had enough time to switch to it if there had been any real advantage. But that didn't happen. This coin reached its peak in late 2013 (like Bitcoin back then) with a marketcap of 1B dollars. Right now, its marketcap is below 200M dollars while Bitcoin is aiming at the ATH ever

So a better coin than bitcoin wouldn't kill bitcoin, huh. Then the only way for bitcoin to die is for it to kill itself. For example, if it takes typically an hour for your transaction to get confirmed and still have ridiculous fees. But I'm pretty sure there would be an update fixing all these problems so probably bitcoin wouldn't die because of the downsides of its features.

Even if a perfect copy of bitcoin makes a scene and spend millions of dollars for advertisement, I still doubt that it would kill bitcoins. Anyone that's using an altcoin will switch to bitcoin since it's the original one. So how would bitcoin die exactly? Cheesy

That's what I've been telling for years myself

And right now, after the Chinese fiasco at bridling Bitcoin, it should be apparent to anyone (at least, I hope for that). Regarding confirmation times, I'm sticking to an opinion that it is the small minority which is most vocal here (which get their transactions not confirmed in time). For example, today I made a few transactions myself from my Coinbase wallet (obviously, I paid no fees), but all of them have been confirmed within minutes (like always). In fact, I didn't even check them since the money sent arrived pretty soon, i.e. well within my tolerance limits

guoyu78

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Quote from: Teemotje on February 22, 2017, 09:02:35 AM

The only way Bitcoin will ever die is if the internet dies or when the worth drops to zero. I don't think that the internet will die because it is something almost everyone uses en need.
And also that the worth of the Bitcoin will drop to zero because it is being used by more people each day.

you are right when internet dies then bitcoin will be die but it really impossible and internet would be never die and bitcoin is depend on internet and there a lot of users of bitcoin and more people adopting bitcoin.

Sled

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Quote from: bravehearth0319 on February 22, 2017, 10:23:16 AM

Quote from: geschtonkenflapped on February 09, 2017, 11:14:05 AM

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?

As long as there is bitcoin users it won't die ever, but if majority of the members are loosing confidence and not having an interest nor enjoying the features of bitcoin, well that's the sign bitcoin will down the price until the until comes nobody using bitcoin anymore.

That is one of the scary thing to happen is to lose confidence and interest in bitcoin because we already know that there is a lot of alternative coin for bitcoin and if the developers will not work hard to maintain or better, improve what we have now then it will happen and in that scenario users or most of us will use another coin and that will be very frustrating for bitcoin since the market will lose foundation that support the market price.

Xenophoto

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Quote from: deisik on February 23, 2017, 02:06:15 AM

Quote from: Xenophoto on February 22, 2017, 10:01:18 AM

Quote from: Teemotje on February 22, 2017, 09:02:35 AM

The only way Bitcoin will ever die is if the internet dies or when the worth drops to zero. I don't think that the internet will die because it is something almost everyone uses en need.
And also that the worth of the Bitcoin will drop to zero because it is being used by more people each day.

But a day might come that a better coin will kill bitcoin. For example, a perfect copy of bitcoin but has the problems of transaction time, block size, transaction fee, etc. all solved. People would slowly migrate to that particular coin when online exchangers have started to come up. Keep in mind that bitcoin is just a prototype, it's still an experiment that we would eventually have to update. There's the SegWit update, hard fork, etc. and there's been so much discussion about which one's better and why is it not advisable to update all these

That will be nowhere near enough

Litecoin can be loosely considered as such a perfect copycat of Bitcoin. It has 4x block size as well as 4x less confirmation times (1 confirmation takes around 2.5 minutes, if I'm not mistaken) combined with low transaction fees. It was the second cryptocurrency ever (after Bitcoin itself), and so what? It took off in October, 2011, i.e. more than 5 years ago, so people had enough time to switch to it if there had been any real advantage. But that didn't happen. This coin reached its peak in late 2013 (like Bitcoin back then) with a marketcap of 1B dollars. Right now, its marketcap is below 200M dollars while Bitcoin is aiming at the ATH ever

So a better coin than bitcoin wouldn't kill bitcoin, huh. Then the only way for bitcoin to die is for it to kill itself. For example, if it takes typically an hour for your transaction to get confirmed and still have ridiculous fees. But I'm pretty sure there would be an update fixing all these problems so probably bitcoin wouldn't die because of the downsides of its features.

Even if a perfect copy of bitcoin makes a scene and spend millions of dollars for advertisement, I still doubt that it would kill bitcoins. Anyone that's using an altcoin will switch to bitcoin since it's the original one. So how would bitcoin die exactly? Cheesy

deisik

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Quote from: Xenophoto on February 22, 2017, 10:01:18 AM

Quote from: Teemotje on February 22, 2017, 09:02:35 AM

The only way Bitcoin will ever die is if the internet dies or when the worth drops to zero. I don't think that the internet will die because it is something almost everyone uses en need.
And also that the worth of the Bitcoin will drop to zero because it is being used by more people each day.

But a day might come that a better coin will kill bitcoin. For example, a perfect copy of bitcoin but has the problems of transaction time, block size, transaction fee, etc. all solved. People would slowly migrate to that particular coin when online exchangers have started to come up. Keep in mind that bitcoin is just a prototype, it's still an experiment that we would eventually have to update. There's the SegWit update, hard fork, etc. and there's been so much discussion about which one's better and why is it not advisable to update all these

That will be nowhere near enough

Litecoin can be loosely considered as such a perfect copycat of Bitcoin. It has 4x block size as well as 4x less confirmation times (1 confirmation takes around 2.5 minutes, if I'm not mistaken) combined with low transaction fees. It was the second cryptocurrency ever (after Bitcoin itself), and so what? It took off in October, 2011, i.e. more than 5 years ago, so people had enough time to switch to it if there had been any real advantage. But that didn't happen. This coin reached its peak in late 2013 (like Bitcoin back then) with a marketcap of 1B dollars. Right now, its marketcap is below 200M dollars while Bitcoin is aiming at the ATH ever

bravehearth0319

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Quote from: geschtonkenflapped on February 09, 2017, 11:14:05 AM

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?

As long as there is bitcoin users it won't die ever, but if majority of the members are loosing confidence and not having an interest nor enjoying the features of bitcoin, well that's the sign bitcoin will down the price until the until comes nobody using bitcoin anymore.

Xenophoto

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Quote from: Teemotje on February 22, 2017, 09:02:35 AM

The only way Bitcoin will ever die is if the internet dies or when the worth drops to zero. I don't think that the internet will die because it is something almost everyone uses en need.
And also that the worth of the Bitcoin will drop to zero because it is being used by more people each day.

But a day might come that a better coin will kill bitcoin. For example, a perfect copy of bitcoin but has the problems of transaction time, block size, transaction fee, etc. all solved. People would slowly migrate to that particular coin when online exchangers have started to come up. Keep in mind that bitcoin is just a prototype, it's still an experiment that we would eventually have to update. There's the SegWit update, hard fork, etc. and there's been so much discussion about which one's better and why is it not advisable to update all these.

Teemotje

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The only way Bitcoin will ever die is if the internet dies or when the worth drops to zero. I don't think that the internet will die because it is something almost everyone uses en need.
And also that the worth of the Bitcoin will drop to zero because it is being used by more people each day.

TelolettOm

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Quote from: bravehearth0319 on February 16, 2017, 02:38:43 AM

Quote from: geschtonkenflapped on February 09, 2017, 11:14:05 AM

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?

The only reason I think that bitcoin will die is, if the internet in the whole world will disappear but its gonna happen. Then if all the users of bitcoin and whale investors in the entire world will also exit in this industry it will surely bitcoin value will crash quickly down to zero from trading market to crypto currency will downfall to bankruptcy.

True Once bitcoin The ride costs one only is The More That use it. when will bitcoin is no longer worth the bitcoin has no meaning and can not be respected. just look at the development of bitcoin so far

positivezero

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Quote from: boris singer on February 16, 2017, 02:39:41 AM

Quote from: BitcoinGirl.Club on February 16, 2017, 02:02:52 AM

The governments didn't anticipate the digital currency to grow to this extent and if the wanted to kill it they should have done that when it was in the coding stage but now its an off the shelf product its too late to stop it! But the best(worst) the can do is have it regulated.

The government is aware bitcoin is something that is associated with many users worldwide. Just like drugs, no one can kill the bitcoin system, because this sort of positive virus will continue to spread in financial business. And there is no other way than to use it in the right track.

Regulation is not the right solution, but it makes sense to open the gates of business community that can be utilized on a massive scale.

Quote from: positivezero on February 16, 2017, 02:22:31 AM

Quote from: geschtonkenflapped on February 09, 2017, 11:14:05 AM

How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?

if no one, as in no one users will bitcoin, if government would banned bitcoin(maybe), yes they have the power to do that but we have also the right to fight against banning, government is out for that(bitcoin), if the price would fall down into the bottom then no people will used it, or even if no users believe about bitcoin. Bitcoin is all about the people behind it, so if no users, then no bitcoin

It is too early to discuss all possibilities of it, but I'm sure the community will be greater, and even able to be total currency adopted by countries that wants it.

I guess so Grin

, before that happens one for sure bitcoin will become the number one currency in the future, bitcoin will become famous and all people will used it, and all people will adapt the things about bitcoin. It would become more progressive and most improving currency as well as the price of it will increase and become stable and can help us in many ways, before it will die

nyanhtet

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Bawga

Bitcoin can die when it reach limited supply. There is no more profit for miners and even if they increased Fee, a lot of users will decrease. Bitcoin is just for currency and if no one use, it is fail. 10000 satoshi fee can long 2/3 days for one transaction sometime atm.

Harlot

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Quote from: virasog on February 20, 2017, 02:03:02 AM

Quote from: matthona on February 19, 2017, 04:09:40 AM

Quote from: BeGoods on February 19, 2017, 04:01:04 AM

Quote from: hollandvan on February 18, 2017, 05:05:40 AM

Unless internet can't be working any more, or your question is negative. Maybe in world war III, but people need food first, who likes bitcoin?

yeah bitcoin will die when the internet is dead, but in this period, the Internet became a major need, so it is impossible that the Internet was going to die?
let alone in the future will be more advanced technology

Yeah neither internet nor bitcoin is going anywhere as internet have become the basic necessity of each and every individual and it will get more advanced in coming years so I don't think that will ever happen and bitcoin can only die if its price falls to zero level and that also seems to be impossible.

Neither Internet can be ended Nor so is the bitcoins value go to zero. Both of them will stay forever. The only thing or problem is that if anything wrong happens with block chain that could make bitcoin value to be low and finally die if the issues not resolved. But it is highly unlikely to happen.

Yes internet will not die in the foreseable future, but Bitcoin is not immune to price drops as proven right now up to this date. Bitcoin is a volatile currency due to the change of demand it goes up high and goes low faster than any fiat currency. One of thing that can cost Bitcoin's death is when its demand reaches zero.

virasog

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Quote from: matthona on February 19, 2017, 04:09:40 AM

Quote from: BeGoods on February 19, 2017, 04:01:04 AM

Quote from: hollandvan on February 18, 2017, 05:05:40 AM

Unless internet can't be working any more, or your question is negative. Maybe in world war III, but people need food first, who likes bitcoin?

yeah bitcoin will die when the internet is dead, but in this period, the Internet became a major need, so it is impossible that the Internet was going to die?
let alone in the future will be more advanced technology

Yeah neither internet nor bitcoin is going anywhere as internet have become the basic necessity of each and every individual and it will get more advanced in coming years so I don't think that will ever happen and bitcoin can only die if its price falls to zero level and that also seems to be impossible.

Neither Internet can be ended Nor so is the bitcoins value go to zero. Both of them will stay forever. The only thing or problem is that if anything wrong happens with block chain that could make bitcoin value to be low and finally die if the issues not resolved. But it is highly unlikely to happen.

deisik

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Quote from: Rostadom on February 19, 2017, 07:36:16 AM

Quote from: deisik on February 19, 2017, 04:09:44 AM

Quote from: avikz on February 19, 2017, 03:26:07 AM

I don't think value decrease will kill bitcoin as of now but yes, one thing will surely kill bitcoin, is the government. Only the government has the power to kill bitcoin for their own country.

If the government steps up and start cracking up bitcoin users of their own country, then bitcoin would die and market cap will start getting decreased. I don't see any other reason for bitcoin to die soon enough

The recent events have revealed that it is an unlikely course of events. I refer to the Chinese authorities laying themselves out to prevent population from using Bitcoin in any meaningful way. China has been considered as the largest Bitcoin market, and after such attacks on Bitcoin we could have well expected the price to crash (and that's what the PBoC likely had hoped for), but it didn't happen. Now price is again slowly climbing to ATHs. The bottom line is that any single government banning Bitcoin may not change anything. It will likely require a concerted effort of all major governments to stop Bitcoin...

And it is still not a given

China was one of the countries that hold the most bitcoins but that was the past. Japan has the most bitcoins now. Supposed that Chinese government would want to cause a negative effect on bitcoins again, they can't do it anymore because you can't ban bitcoins twice. And since all the other countries don't have as much as China had when they banned bitcoins, any government trying to destroy bitcoin by banning it wouldn't cause that much damage (just like what deisik said above).

It is still not clear what the real intentions of the Chinese authorities are

Though this vagueness and uncertainty can be explained by the assumption that the government officials don't have a consensus in respect to Bitcoin, what to do with it. Some of them may have invested in Bitcoin (or Bitcoin mining) themselves. So we may see a lot of contradictory action not quite easily explainable by logic or common sense. The fact that the Chinese government is not very open overall (about almost anything), this will remain a fertile field for conspiracy theories of all kinds

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