Topic: In what situation would Bitcoin die? - page 4. (Read 101822 times)

Hypothetically, I have two reasons in mind if ever Bitcoin is going to die, first is the world wide ban against it, as in the governments will unite to ensure that it will not be use at all, which very unlikely to happen since Bitcoin has such good things to give. The second one is that no demand, as in no one has interest on it anymore, which is also unlikely to happen since the Bitcoin community is rapidly growing.

 It can only die in extreme situations when there is no internet connection, no electricity ,no mode of using bitcoin which i don't think can ever happen. Even if the government ban the use of bitcoin and people start stop showing interest in it some people will still use it either by some illegal ways, so the best answer to this question is no internet connection. Otherwise there is no way to stop bitcoin. Bitcoin has a long way to go.

If the power supply, the internet, the global data communication is suddenly paralyzed, the bitcoin will not be connected, so the whole system will become useless. A faulty update could lead to system crash. Government can control and inhibit bitcoin

I think if bitcoin dies in case all the investors in the world sell their bitcoin, its value will drop to its lowest level and the bitcoin market will collapse. Or if bitcoin is banned around the world.

I guess that bitcoin will die if all the countries banned the usage of bitcoin and all the people around the world won't believe in it anymore. The only reason that bitcoin have gotten this far already is due to the fact that a large number of people including me believe in it and thinking that is the future of money.

Value decrease will not be a cause for Bitcoin and other cryptocurrencies to die. Value decrease is already the direct consequence or effect of something that might cause the cryptocurrency to die. Legality issues may not really be a problem at all if the project is really determined to continue working. They could easily shift to another country or jurisdiction where they may find legality a non-issue, provided it is not the CEO or any other very important member/s of the team that is/are battling a legal issue o issues. Much better technologies may be a cause of certain coins to die if they are not willing enough to compete and improve.

Actually this is a factor of the view of the countries toward the bitcoin .
Some of the countries are thinking the bitcoin  is responsible for the flow of the money from.the country to outside without any control ( but opposite of the they are not thinking that the amount of money is also coming )
Many of the countries are making question for the bitcoin legality but no correct answer they got Because the government is not using bitcoin .
Well here I don't think it will die because this is online and no one can stop us to use it in any way , And here the big step by the Japan to use bitcoin as officially legal will support bitcoin more and more and this will result into increase in the favour of bitcoin life .

In the event that individuals lose confidence in the security of the system for some reason then bitcoin could pass on. regardless of how frequently I take a gander at the numbers I generally have this thought in my mind that an address could at long last be broken with a super PC ie one of satoshis old locations, this would clearly be disastrous . Perhaps following quite a while of not accomplishing mass selection cost will gradually decrease and pass on, to me this is the no dought case

Bitcoin is one of the most active currencies among the currencies on the trading floor, and it can say that digital coins are developing with the broadest possible future and Bitcoin is a widely thought currency. Become common currency in the world and will not be able to stop.

I think Bitcoin will die if all countries decide to ban Bitcoin permanently. it will be the most likely scenario for "dead Bitcoin", and also. No requests, no users, no transactions. The "why" question would not be relevant - it could be a better cryptocurrency or - a little sci-fi - less need to use money for everyday life, or technology much better than cryptos (eg some kind of artificial intelligence that manages our needs) . It will not be dramatic, just boring - "Last bitbiner" will turn off the light, most likely without anyone noticing it. Lots of scenarios are actually things that can make bitcoin lost forever and die.
Since bitcoin runs with internet connection and then once the internet disappears, bitcoin time is useless.
Though it seems impossible to happen but it is worth anticipating

I think that you say with your opinion it is all the risks that we will get from investing with bitcoin and very big hope investors all that bit bitcoin will not progress rapidly ahead

I don't think that bitcoin will die, it will have some value even if some new technology appear, people will collect it cause it's first of it's kind.
Everything around us is evolving, bitcoin will have the same destiny, and I think bitcoin will be only better with the time. Quantum computing is also technology, and why bitcon can adopt on it? For me all mentioned scenarios are lucky guessing, I think bitcoin is strong enough to survive all upcoming problems and threats.

yes, prohibiting the use of bitcoin by some countries will have a considerable impact, with the ban being people who are attracted to bitcoin will decrease and will have an impact on continuous bitcoin prices and some people who panic with the situation will aggravate the state of bitcoin.
but for the presence of a new cryptocurrencies that will replace the bitcoin will not completely go smoothly, because bitcoin is still an option for some people to place invest, it will be very difficult to compete with bitcoin, but it all depends on the circumstances,

 Bitcoin dies if the users are totally out in the market. Bitcoin is the world's first distributed virtual currency, We don't know how can it happen but I'm sure that without internet Bitcoin is useless. The Internet is like a life that connects the survival of cryptocurrency. I hope bitcoin will not die because there are so many people who trusts this digital currency.

Bitcoin would die when people will lose interest and will start doing something else. While people buying and selling bitcoin will live with us forver.

For me Bitcoin would not come yo its END. Having its popularity globally there will be no other situation which will sweep out Bitcoin. This will only happen if capitalists and investors withdraw their shares in Bitcoin.

If all people leave the use of Bitcoin during the worst condition of Bitcoin, then I think Bitcoin will die. But I do not think Bitcoin will face such problem. And if Bitcoin stopped giving benefits to users, then people could release Bitcoin, but I do not think it will happen, because Bitcoin always provides users with many benefits. So people love Bitcoin.

It is hard to predict but in my opinion,bitcoin would not last forever so I am taking the opportunity to earn now before it is too late. In my opinion,  I think a way to end bitcoin is if no one is using it and loses its demand,sounds impossible but if bitcoin continuously declines, it may be possible. Another reason could be global shutdown of cryptocurrency, if government all around the world agreed to one decision, they can totally disrupt bitcoin. If a world war could happen, and power lines or internet connection were shut down, and most technologies were destroyed I think that would be the end of bitcoin, and also end of human.

There are several factors that make it absolutely unable to replace fiat currency or even be the dominating crypto-currency in the transactions of the future. Among the largest concerns are:

1) Bitcoin is highly volatile. Any economist knows that hyperinflation and hyperdeflation in currency significantly undermines the economy. Bitcoin has both practically within each week. Consumer motivations are skewed, and instead of making purchasing decisions (is this worth buying?) - they have to think of investment decisions (dump or hold).

2) Bitcoin is limited in emission. This is similar to the point above. Even if Bitcoin price reaches stability, once it hits 21,000,000 - it will no longer be possible to produce. Assuming that Bitcoin is used for transactions, that will cause rapid inflation of price in comparison to the growth of the global economy, making Bitcoin obsolete very dramatically and very fast.

3) Lack of motivation for verifying transactions. Once no more Bitcoin is emitted, miners will not get BTC in exchange for closing blocks. Some additional systems may come into place, so unlike the point above - this is a problem that can be overcome... but why would we need to overcome it, when there are crypto-currency without this inherent flaw?

4) Transaction commissions are very expensive. In basic terms, it won't make sense to use BTC to buy a can of Coke for $1 USD, by paying $4USD to facilitate the transaction.

5) Waiting times. In the current economy, waiting times of 30 minutes are too high for effective day-to-day transactions. Imagining standing at a store checkout for 30 minutes, just to wait for transaction to clear.

In short, volatility and miner motivations will not allow BTC to make fiat funds obsolete. Those are only the causes inherent to Bitcoin. Other causes include the presence of crypto-currencies and that some of the economy will still remain centralised, as the economy mirrors the society. But I just wanted to talk about BTC here.

There are many ways on how bitcoins and other cryptocurrency may end and be die.One of the biggest threats is data base shut down or unexpected huge error on the network.Also demand problems will do a big problem too.I think legality issues will not affect  bitcoins and other cryptocurrency.