In what situation would Bitcoin die? - page 61.

Theb

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Quote from: minizi99 on July 01, 2017, 09:22:39 AM

Quote from: bitcoinmasterlord on July 01, 2017, 08:28:30 AM

Quote from: Babylon on June 30, 2017, 07:33:41 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?

Maybe bitcoin will die if no one sees it useful, in short, zero demand will end bitcoin, just like any other coins

Yup when the demand of Bitcoin will completely go in the market, and people stop to use bitcoins for anything. And the value drops to below $100 then that is the end time for Bitcoin. But this is not easy if this happens then all the other cryptocurrencies will lose their value in the market. People will never trust any cryptocurrencies.

The price of bitcoin is now largely dependent on investors who invested in it. Simple users have little impact on the price of bitcoins. Therefore, we can conclude that bitcoin will die when investors lose interest in it

Yes everything would be useless if its demand goes to zero which will result into a valueless asset. But we need to have the a reason why it will have a zero demand in the future. Because all the possible reason that I know of will be about its legality issues which as of right now is fading away because of some developed countries finally accepting Bitcoin in their country.

minizi99

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Quote from: bitcoinmasterlord on July 01, 2017, 08:28:30 AM

Quote from: Babylon on June 30, 2017, 07:33:41 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?

Maybe bitcoin will die if no one sees it useful, in short, zero demand will end bitcoin, just like any other coins

Yup when the demand of Bitcoin will completely go in the market, and people stop to use bitcoins for anything. And the value drops to below $100 then that is the end time for Bitcoin. But this is not easy if this happens then all the other cryptocurrencies will lose their value in the market. People will never trust any cryptocurrencies.

The price of bitcoin is now largely dependent on investors who invested in it. Simple users have little impact on the price of bitcoins. Therefore, we can conclude that bitcoin will die when investors lose interest in it

bitcoinmasterlord

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Quote from: Babylon on June 30, 2017, 07:33:41 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?

Maybe bitcoin will die if no one sees it useful, in short, zero demand will end bitcoin, just like any other coins

Yup when the demand of Bitcoin will completely go in the market, and people stop to use bitcoins for anything. And the value drops to below $100 then that is the end time for Bitcoin. But this is not easy if this happens then all the other cryptocurrencies will lose their value in the market. People will never trust any cryptocurrencies.

Cosbycoin

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Quote from: Cazkys on June 25, 2017, 11:38:05 AM

When we can no longer read cryptocurrencies, Bitcoin will die or end. Bitcoin is a digital currency relying to cryptocurrencies. Our way of transferring money is true sending cryptocurrency address from our bitcoin wallet. It is called Bitcoin address. If transactions cannot read those, then there is no way we can transfer money or someone could able to pay us.

The bitcoin cannot die although the economist are struggling to provide the alternate of bitcoin and they are making such system which will be issued by UNO and every country will have to follow that currency and hence just like ICL the IPL will have introduce. But still bitcoin popularity is continuously increasing which is making bitcoin more powerful and therefore no other currency can replace bitcoin.

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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?

Maybe bitcoin will die if no one sees it useful, in short, zero demand will end bitcoin, just like any other coins

lecongnhan123

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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?

Bitcoin will die (or disappear) when no one uses it. I think when some/a coin(s) can be used to pay for micro payments, it's the time when Bitcoin is dead. At that time, people will use that coin(s) instead of Bitcoin, when no one uses it, it will die itself

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Quote from: DoublerHunter on June 29, 2017, 11:42:25 PM

Quote from: ViN! on June 29, 2017, 10:32:22 PM

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.

That is not true because miners can still make money from confirming the transactions that has been issued in the network and if the supply is reached or maxed out then it is still easy for bitcoin and it will not die because the supply will still there in the market and the profit making for both bitcoin miners and users are still there. I think bitcoin will die if the internet will be shutdown.

that's right even bitcoin already been mine those miner will continue with their transaction and they still got profits with transaction fee
so that's not the big deal that will let btc die maybe big government issue will do but still no arguments about it.

Fatanut

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Quote from: ViN! on June 29, 2017, 10:32:22 PM

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.

We all know that miners are here because of the block reward. Without the block rewards, there would still be a lot of people mining bitcoins. Probably the previous miners themselves. Why? Because they have bitcoins. They have to continue supporting the network because otherwise their bitcoins will go to waste. It would be like mining is just a way to keep their investments alive.

The miners cant increase the fee. We are the ones increasing the fee. As more and more people are battling to get a higher priority in the blockchain, the more the transaction fee is increasing. But the miners don't just say "Okay, I want .01BTC for tx fee instead of .001BTC" and then the transaction fee is already high. They don't dictate that.

DoublerHunter

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Quote from: ViN! on June 29, 2017, 10:32:22 PM

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.

That is not true because miners can still make money from confirming the transactions that has been issued in the network and if the supply is reached or maxed out then it is still easy for bitcoin and it will not die because the supply will still there in the market and the profit making for both bitcoin miners and users are still there. I think bitcoin will die if the internet will be shutdown.

ViN!

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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.

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Quote from: poplolnman on June 21, 2017, 02:11:47 AM

not only bitcoin would die if then there's no internet access , but also a lot of banks that operated with internet, a lot of public facilities that rely on internet as yeah nowadays the Internet of Things has begun . so for me it's more to universal disaster rather than bitcoin only who would die. the possibility this scenario happened also are so small let's skip that talk.

I agree, talk about post apocalyptic situation. Well for now internet is really a necessity, but if you think of it this way, the internet would really die, then we have to find alternate solutions for that.

In the post apocalyptic world we will eventually learn to adapt on what we have, that's human nature I guess. Therefore, we can live without internet.

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Quote from: sebatang on June 26, 2017, 05:11:48 PM

Bitcoin will never die, especially if the current view, bitcoin prices higher, because the need for it is increasing. Well, the only thing that could make a dead bitcoin is when the internet connection disappears. Cheesy

Yes you are right bitcoin will never die its price is increasing and and I hope bitcoin currency will live forever . And more internet connection is not a great reason to make bitcoin die because nowadays in modern age all countries will goes to development and everywhere internet connection is available.

gilangIDR

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Quote from: sebatang on June 26, 2017, 05:11:48 PM

Bitcoin will never die, especially if the current view, bitcoin prices higher, because the need for it is increasing. Well, the only thing that could make a dead bitcoin is when the internet connection disappears. Cheesy

When initernet is off we certainly can not use bitcoin to make transactions, so everything will feel dead. So the most important component in bitcoin is internet, as long as there is internet then we can do transaction. Whatever bitcoin price rates it will not be a problem.

TheGodFather

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Quote from: Batman15 on June 25, 2017, 05:31:56 AM

The possibility Bitcoin will die is low. but in the future if ever the value might decrease and people stop using it but it will be hard to forget about bitcoin it will take time for bitcoin to die especially if no one wants that to happen.

Yes it is, there will be less posibility that bitcoin will die especially because it has been there for many years and manh investors has been into it and they already invested in bitcoins. And soon bitcoin will br legalizes in all over the world. And they will also accept it as payment.

batang_bitcoin

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Quote from: sebatang on June 26, 2017, 05:11:48 PM

Bitcoin will never die, especially if the current view, bitcoin prices higher, because the need for it is increasing. Well, the only thing that could make a dead bitcoin is when the internet connection disappears. Cheesy

It's been proved for a lot of time and look today the price went down but it's increasing again. This is the good thing in bitcoin, when the price is becoming low, many traders are keep on buying at dip and volumes of bitcoins are being bought by those other hoarders. And that is making the market of bitcoin healthy.

IamHigh

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Quote from: sebatang on June 26, 2017, 05:11:48 PM

Bitcoin will never die, especially if the current view, bitcoin prices higher, because the need for it is increasing. Well, the only thing that could make a dead bitcoin is when the internet connection disappears. Cheesy

I also don't believe bitcoin would die in a real manner. Bans, restrictions and rumors about hard fork might make it powerless, yet this does not mean it died.

CriptoSven

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Quote from: sebatang on June 26, 2017, 05:11:48 PM

Bitcoin will never die, especially if the current view, bitcoin prices higher, because the need for it is increasing. Well, the only thing that could make a dead bitcoin is when the internet connection disappears. Cheesy

In fact, this is so, and especially if no one interferes in the activities of Bitcoin users and the most crypto currency. But if our government wants to implement Bitcoin and retain control over the crypto currency, then we will lose a lot. And not only anonymity, if this happens, then it seems to me that many users will start leaving Bitcoin And that they can lead to the death of Bitcoin.

sebatang

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Bitcoin will never die, especially if the current view, bitcoin prices higher, because the need for it is increasing. Well, the only thing that could make a dead bitcoin is when the internet connection disappears. Cheesy

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Quote from: Oxydarck on June 25, 2017, 05:39:54 PM

Bitcoin will die if If there were a loss of net neutrality and if they do a new currence better than bitoin .

What the hell has net neutrality to do with bitcoin.
They could try and throttle down the speed on all the ports to 10kbs per second and it will not stop the bitcoin protocol.
And whatever the us does it does not mean the entire world is going to copy their stupidity.

Quote from: Bagaji on June 25, 2017, 03:53:41 PM

I am finding it difficult to believe that bitcoin will die one day. Bitcoin will only die when there is no internet and it is impossible to imagine that a time will ever come where there will not be internet globally. Just the way it is impossible for one to say US Dollar will die in one situation or let say GBP will die one day. This is because bitcoin has become a global currency already.

Everything will die one day.
Maybe I won't see the $ fail but the way things are happening in the UK I might enjoy seeing the pound hammered into oblivion.

kpcian

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It's simple...
When Bitcoin will lose its credibility then Bitcoin will lose its demand in the market. If you have no demand in your market then your existence will face a threat. I think that is only one condition when Bitcoin can be dead, otherwise Bitcoin will sustain a long period of time...

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