In what situation would Bitcoin die? - page 38.

Donutcome

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Quote from: DaftAjax on September 26, 2017, 12:46:22 PM

Quote from: diagla on September 23, 2017, 06:57:25 PM

Quote from: Roboabhishek on September 23, 2017, 06:45:31 PM

Quote from: geschtonkenflapped on February 09, 2017, 12:14:05 PM

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

It's not possible for bitcoin to die but let's suppose how it might happen.
-If the miners somehow stop mining.
-If someone hacks into the bitcoin network.
There are many others ways but these are enough for this topic

Bro, your answer makes no sense.

First you say it is not possible for Bitcoin to die.

Then you say "let's suppose how it might happen".

Right on the spot mate. It really is sound confusing in the sense that you agree that Bitcoin would not die because of some reasons and then at the end you will say, that let's think how it might happen? But then again if you would read it as understandable as you could be it goes something like this:

"It is not possible for bitcoin to die, but let's think how it might suppose to happen."

Something like that, I guess.

Well i think he means bitcoin can die but he just not want us to feel bad that is why he is telling it that way and also i personally think that bitcoin can die if everyone started earning bitcoin instead of working this way the government will try their best to shut bitcoin down.

moinul018

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Technically bitcoin cannot die until miners are there with the total ledgers. It can survive in a worldwide internet crash also. Just have to start the blocks where it left off.

DBronze98

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Quote from: geschtonkenflapped on February 09, 2017, 12:14:05 PM

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

my opinion . If we sell the BTC and no one buys BTC anymore, BTC will die . But I think BTC will not be able to die. Because BTC helped me and many others make a lot of money

wurth

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Blockchain Just Entered The Real World

Quote from: Core.BUSTER on October 14, 2017, 09:00:26 AM

Quote from: geschtonkenflapped on February 09, 2017, 12:14:05 PM

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

It is Economics 101, the rule of demand and supply. When all crypto have been mined, its value will stabilize or decreased rapidly. The finite supply would create a stable ratio to fiat money. And if the demand decrease, it's value will also decrease. But I don't see the decrease of the demand in the bitcoins in these days.

An asset has limits supply and popular with our life never decreases its price easily. Of course, the price of Bitcoin in that time will be stable and do not have many volatilities as now. Even, someone or any rich group, company ... can fixed the price of Bitcoin in that time.

artyo

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I believe in situation if the electrons all of a sudden refuse to operate all over the globe, Bitcoin would die. As properly as a milk in your fridge Â

DaftAjax

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Quote from: zollyharvan on October 14, 2017, 04:54:10 AM

maybe everyone has stopped or if in some ways becomes useless, here are two situations that I think that can make a child die. But I do not know what the reason is that people are used to it and bigger all the time.

The second option is the most logical, pretty simple and practical thing that would happen. I mean if that coin would be useless in many platforms then, it will surely die and people who are using it will just gonna go and throw away that coin.

waynechong1995

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swing!

Quote from: geschtonkenflapped on February 09, 2017, 12:14:05 PM

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

I would say legality issues is the biggest concern, imagine the BTC issue is bring upon those countries meeting, any FUD or decisions would bring a massive impact that might wipe Bitcoin on the surface. Value wise is unlikely for now as people are holding it for greater good, technology? nahhh i think more people are looking BTC as a investment rather as technology/ideas... noticeable upgrade on Bitcoin are just mere news for people to raise their price only.

Core.BUSTER

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Quote from: geschtonkenflapped on February 09, 2017, 12:14:05 PM

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

It is Economics 101, the rule of demand and supply. When all crypto have been mined, its value will stabilize or decreased rapidly. The finite supply would create a stable ratio to fiat money. And if the demand decrease, it's value will also decrease. But I don't see the decrease of the demand in the bitcoins in these days.

DoublerHunter

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Quote from: farhansadik on October 09, 2017, 08:35:03 AM

Bitcoin will Alive Until peoples are using it, Bitcoin demand will decrease if the number of users decreases.
So, I think Bitcoin will Die When people stop using bitcoin. There are another reasons, People believe in Blockchain Technology a lot, If Blockchain breaks its policy Then people can reduce their usage.

Yes, the demand is the reason for the life of bitcoin and it will become the reason for its death also. If the people will see bitcoin as a useless currency then they will abandon it and they will dump their bitcoin completely and it will drags down the price of bitcoin and it will become worthless and it will just become a part of the history of the currency.

zollyharvan

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maybe everyone has stopped or if in some ways becomes useless, here are two situations that I think that can make a child die. But I do not know what the reason is that people are used to it and bigger all the time.

DIW

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DIWtoken.com

The idea behind Bitcoin (blockchain technology) will never die. On the contrary, it will only expand.
It is extremely unlikely for Bitcoin to die as everyone opposing it has a love / hate relationship with it, so it's in everyone's best interest to fight it on the surface but support it in the shadows.

farhansadik

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Bitcoin will Alive Until peoples are using it, Bitcoin demand will decrease if the number of users decreases.
So, I think Bitcoin will Die When people stop using bitcoin. There are another reasons, People believe in Blockchain Technology a lot, If Blockchain breaks its policy Then people can reduce their usage.

sebasman2

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It would only die because of the following things:
- Hacks/glitches where the system fails and btc gets lost or created for free
- Forbidden internationally

Furthermore I don't think BTC will ever fade away.

pat4cryptoreal

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Bitcoin may die if the price start depreciating without appreciating for a very long period of time, this may lead to panic and alot of people will start dumping. It may also die if there is no more usage of bitcoin anymore. With the brains behind bitcoin the possibility of bitcoin dieing is very thin.

Napole0n

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Bitcoin immediately die if there is no internet connection because the internet is the soul of bitcoin, rest assured that bitcoin banned without being followed off the internet will not make the user run away from bitcoin.

DaftAjax

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Quote from: fedora8 on October 09, 2017, 05:14:51 AM

I feel in situation if the electrons out of the blue refuse to operate all above the world, Bitcoin would die. As effectively as a milk in your fridge Â

What? I don't understand this, I don't even know any of your statement. But if I somehow understand some of it, it may happen only just in one condition. I've watched one documented video some time ago and, it explained that somewhere in the atmosphere, like stratosphere or something that, if a nuclear bomb explodes in that specific area of the atmosphere it would cause an Electromagnetic Pulse and makes all electronic devices basically get fried and won't work, its like electricity didn't even invented at all.

Lykslyks

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Quote from: Maheshkumar_Hrangkhawl on September 27, 2017, 03:52:18 AM

Quote from: The Cryptologist on September 27, 2017, 03:47:01 AM

I only see it that it would happen if apocalypse really destroys most of our planets' habitats and resources. There's no way that bitcoin still has use on that situation.

Nope. There can be many other scenarios. Imagine what will happen if a better competitor emerges and starts replacing the Bitcoin. Or imagine what will happen, if the hackers are able to crack the private keys to the Bitcoin wallets in the distant future.

I agree! In my opinion, hackers are hackers, they will do anything they can to hack not just bitcoin wallets but i assume that they will hack the bitcoins system too! After doing these things i'm sure that they will start something that could replcae bitcoin. Aside from these things we are not sure how the government and regulations will handle the continuous growth of bitcoin. If each countries governmebt decided to ban it in tgeir countries, bitcoin will die.

Xester

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Quote from: leexhin on October 09, 2017, 05:18:47 AM

I think it would die or stop if the government cut down or totally shutdown the internet .
That's the only situation that I could think of that would make the bitcoin die.

Yes, if each country orders to cut down or ban bitcoin then bitcoin will die. And well in any case it will still be running but it will be called illegal. It will die if there would be no more internet but again that would be impossible. Bitcoin will die maybe if all the bitcoins are earned, are saved, are held and something like no one will be able to spend their bitcoins. Because there would be no more for rotation. Plus it will die if no one will support it anymore.

MS.LAWLIET

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Quote from: Zadicar on February 09, 2017, 12:56:57 PM

There are lots of things that could able to make bitcoin die. 1st. No one will use any cryptocurrency 2nd. There would be a new crypto that would replace bitcoin 3rd. No internet 4th. All government would ban it globally. and there are lots to mention but still we know that bitcoin wont die easily.

I agree with you, the first thing that comes into my mind about what could make bitcoin die is that if it will be banned by all the government world wide in that case it's for sure that no one will earn bitcoin because it will lose it's value. But because of the increasing number of bitcoin users that would be impossible.

the_hillman

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I don't think it will ever die because of its decentralised nature. However for everyday use, general adoption, and the price it is currently at right now, I think it would be decimated if the main FIAT countries banned all on the on/off-ramps, exchanges etc and made it insanely difficult for purchases to be made with it.

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