Topic: In what situation would Bitcoin die? - page 47. (Read 101794 times)

Value decrease may be a big factor for a coin to wither away but it is basically just an effect of a team that is not working or functioning well anymore. For as long as the team is working hard, innovating, and promoting properly, the value will go along well. Legality is not a problem for me. Bitcoin as well as other coins for that matter may remain largely underground. That's not a problem for as long as people can have access to it. The last one concerning about new technologies and ideas are the most probable reason why cryptocurrencies will probably die. But I hope they will be able to cope with the times.

i think bitcoin will say goodbye if evey countries ban every bitcoin situations ! if someone was caught of using bitcoin would go to jail , like that ! or the internet services is broke down for like 2-3 days or even more ! bitcoin price will drop and drop to 0 ! Or people stop using bitcoin ! Annother good coins talk over bitcoin spot on market ! Hackers , bug coin ! many things can happen on internet so we can't not see the bright future yet

Even if the internet will die or shutdown for a few days, weeks or even months then bitcoin is not dead because if you will realize, bitcoin is just dependable in the internet because it needs internet to do things like transaction or to access bitcoin but its life is not dependable in the internet because it has its own way to support its life.

so actually if the internet is die then bitcoin will also die, yes I guess that's a very sensible reason. but I was wondering, what would cause the internet to die? if only because of a major disaster may be in a few days, weeks or months the Internet network can still be repaired, if so we will still be able to use bitcoin. correct?

I agree, this is one of the reasons bitcoin will die if no internet connection. Also, no one will use bitcoin anymore people stop to use btc. But for now bitcoin will never die as the value is going strong and keep increasing means btc still in demand.

You're right.I think that will be the main reason why bitcoin would possibly die.Everyone will be panic for sure because there will be a total block out for internet connection,and if it will happen for a prolong time,bitcoin will surely die.

My post here is more of a question or summary I suppose, but in considering what it would take for bitcoin to die, there is of course the concept that people stop finding interest or value in it. But have there not already been a whole bunch of different circumstances in the news that would have already taken a strong shot at bitcoin's viability:

Different scenarios that threaten bitcoin
- A hack and theft of a major exchange - this obviously happened with Mt. Gox. And while it is an unfortunate issue, bitcoin's price has clearly recovered. And of course there are more secure ways to store bitcoin (wallets) so holding on an exchange should not be something that people do regularly.
- Negative news - there has been a ton of this. The Silk Road issue and different forks. I am not crazy on the forks happening, since it can be confusing for a user who is not aware of bitcoin. But even with these the price continues to climb. And even if one of bitcoin or bitcoin cash were to be killed off, then it could just represent non-usage of the failed version, and the other version would have continued usage (assuming that the entire ecosystem continues to be used).

So while people buy more because the price continues to climb, more people can buy more because the price continues to climb, and so on. And then the finite element of it comes into play and allows bitcoin to be a viable store of value. So people not wanting to invest in it anymore and not holding anymore or valuing it is one of the only ways it could not succeed?

I suppose there could be a big sell-off from a major holder which triggers more and more selling. But then that would entail the major holder wanting to cash out when it would be in their interest to keep holding and allowing the price to have a continued chance to rise.

Any thoughts? Am I on the right track?
 

In my opinion the only situation that Bitcoin could die is when we face a major disaster wherein we will have a global lose of internet connection. Internet Connection is our only way to access Bitcoin without it Bitcoin is useless.

I think bitcin will not die just because of other cryptocurrency existence because for this era, even though there are lots of alternative coins that are present in the market that offers large count of income online, many people are still holding into their bitcoin because we all know that bitcoin is a fast growing currency online that makes many people have an opportunity to earn an income even without stable work to be a source  I think bitcoin death will be possible if there will be another sprout of world war that will probably result to a massive destruction on properties that can affect people's life that they will not prioritize bitcoin anymore added by the fact that it can be useless because money has no say in a war especially if it is online because on that time there will be no internet connection to generate and operate bitcoin usage.

Actually i dont see any situations that bitcoin and other top seeded cyptocurrency will die now or end except will if there will be a World War III which is described that will be the most fatal of all war histories. Ofcourse no more digital transactions will be process and all digital system and facilities might be destroyed even fiat will be hardly to excess. But still it will be restored as soon as peace will achieve again. So lets hope this assumption will not happen.

     In my personal opinion, I think bitcoin would die if the situation is the bitcoin price is getting lower and lower and some of us holding their bitcoin hoping that someday it will high again but it doesn't. In terms of legality issues, I think it would be a possible reason too because we know that many country did not accepting or they still rejecting bitcoin. In Different technology, probably if there has a new digital currency beat bitcoin in the future and its price is higher than bitcoin price

Sleep is half death, if you know what I mean. Without internet, BTCs are as good as gone dude. And if you ask my opinion on the second point, it is just impossible. People even buy trash like China do and recycles it and we are talking about the foundation of crypto currency world. It's an idea and it will never die.

Only external territory activities are needed to make bitcoin actionless. Up to this point, those kind of activities will never be possible and we never need to worry about these unnecessarily.

Bitcoin could die if it cannot sustain the demand of the market because we all know bitcoin is limited and then suddenly another cryto currency will be introduce in the market with much more supply to offer

Bitcoin would die if all Miner is no longer mine Bitcoin, Yeah as you explain it, the difficulty miners when it mines then the prices Bitcoin will be higher, thus making the investors aren't interested anymore because its price is already very expensive.

I can only see the possibility that bitcoin will die if there's a shortage of power(electricity) around the world or humans go extinct.

If the world war happening, I think Bitcoin and Gold are best choice in that time, because we also know keep paper money in that time high risk than choose asset. You can see Korean and Japan are country have high volume everyday in recent.

Bitcoin will not die if there will be no internet connection because bitcoin is still alive and the only thing that we know is, bitcoin is just in sleep since there is no internet connection and for the second reason that you listed, it is possible to happen if there will be no people invest in bitcoin then it will die because we all know that the difficulty is keep on rising and the price is getting more expensive and making it not affordable anymore for some people so the possibility of investors is getting lower and lower.

Right now, a global power outage would be a big problem. But once we have bitcoin satellites in space, only a catastrophe at the cosmic level would be a problem that could put Bitcoin at existential risk.

I think bitcoin would die when Internet dies.

No trading, no transactions, no value..!

But can internet can die?

I think bitcoin will only die if there will be no internet in the whole world. That will be one reason, the other reason I think is that btc will die if there will be no people to invest in it. Which explain that it will never die.