In what situation would Bitcoin die? - page 66.

GideonGono

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Quote from: fabianabank on June 17, 2017, 04:44:13 AM

Quote from: knircky on February 09, 2017, 11:51:28 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?

Another crypto overtaking its market cap

like? ETH?

Eth will not. If somehow Bitcoin will be replaced by another coin then it would be far much nice and have a similar things to offer but more. I still think that there are no coins who have that kind of potential and Bitcoin still has a long long way to run.

fabianabank

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Quote from: knircky on February 09, 2017, 11:51:28 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?

Another crypto overtaking its market cap

like? ETH?

Drnice

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Expecting the sudden end of Bitcoin and other crypto-currencies cannot just come suddenly, cause it was never dead at the time when they where been created, when they had no much importance and ( most especially Bitcoin) when their price was of no much interest to people.

So why will the death of Bitcoin and other crypto-currencies come now when their price are touching lives?

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Quote from: Caelanpelley on June 16, 2017, 10:23:33 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?

Bitcoin dies? That can happen. When there is another kind of bitcoin that is better in value, less expensive, the amount of bitcoin users will decrease, which is of course because people are always looking for profit.

i think that legality would never kill BITCOIN

DaftAjax

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Quote from: sasaku bitbit on June 16, 2017, 11:38:39 AM

Quote from: fabianabank on June 16, 2017, 09:07:22 AM

Quote from: fabianabank on June 16, 2017, 07:53:05 AM

Quote from: KnightElite on June 16, 2017, 06:28:54 AM

Quote from: BingoDog on February 09, 2017, 11:47:09 AM

If everyone stops using it or if in some way becomes wothless, these are the two situations I think of that could make bitcoin die. But I don't know what could cause something like this, people get used to bitcoin and all benefits that it gives and demand is geting biger all the time.

Yeah you are correct. If everyone stop using the bitcoin it will cause a bad situation to the bitcoin but it can't be happen. Because bitcoin is now getting more popular than before.

but if in one day bitcoin stop to be use, do u will going to throw your coins away?

I mean, do you sell ur coins even they They are worth nothing more? like 1 cent? or Or would you keep them?

If everyone stopped using bitcoin will cause a bad situation for bitcoin but can not occur. Because of the bitcoin is now getting more popular than ever, so it is very important to life everyday for us and if that happens it will be a lot of people that lost it

I can't quite see what you're getting at, but the question is, why would you stop using BTC? Even if you already know its relevance? I mean, why would you do such a tragic thing?

btctousd81

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bitcoin will never die, even in the worst case , if the government orders to stop using bitcoin, it wont die.,
bitcoin in decentralised, just like torrents, or peer to peer. so there in no single point of failure., i guess.

sasaku bitbit

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Quote from: fabianabank on June 16, 2017, 09:07:22 AM

Quote from: fabianabank on June 16, 2017, 07:53:05 AM

Quote from: KnightElite on June 16, 2017, 06:28:54 AM

Quote from: BingoDog on February 09, 2017, 11:47:09 AM

If everyone stops using it or if in some way becomes wothless, these are the two situations I think of that could make bitcoin die. But I don't know what could cause something like this, people get used to bitcoin and all benefits that it gives and demand is geting biger all the time.

Yeah you are correct. If everyone stop using the bitcoin it will cause a bad situation to the bitcoin but it can't be happen. Because bitcoin is now getting more popular than before.

but if in one day bitcoin stop to be use, do u will going to throw your coins away?

I mean, do you sell ur coins even they They are worth nothing more? like 1 cent? or Or would you keep them?

If everyone stopped using bitcoin will cause a bad situation for bitcoin but can not occur. Because of the bitcoin is now getting more popular than ever, so it is very important to life everyday for us and if that happens it will be a lot of people that lost it

DaftAjax

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Quote from: Casdinyard on June 16, 2017, 11:08:37 AM

When people migrate to another coin, bitcoin will still be there. Bitcoin will not disappear at all. It will always have some userbase although that can decrease dramatically when people move to a better coin.

I think that is another topic, you're pertaining to another issue here. By not dying BTC but people "migrating" or moving to another coin. How can you say that this is still related to this topic?

Casdinyard

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I honestly don't think that bitcoin would ever die. Bitcoin will always be there. When people migrate to another coin, bitcoin will still be there. Bitcoin will not disappear at all. It will always have some userbase although that can decrease dramatically when people move to a better coin.

DaftAjax

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Quote from: thisappointed on June 16, 2017, 10:06:37 AM

Quote from: DaftAjax on June 16, 2017, 08:09:39 AM

I think the only way that Bitcoin will go die, is when the TOTAL BREAKDOWN happen, and what I mean about this is not just the internet, but every electronically powered devices or machines, all the power lines are cut down and no power at all, world wide. This is what will kill Bitcoin. I know this is a little off topic but you get the idea right?

Quote

Bitcoin would not die like what we are thinking, maybe if this things that you have said would happen in the near future, this will not be enough to kill bitcoin, bitcoin will remain out there, only the devices or the technology would basically become useless without the internet and power. Bitcoin will remain alive as long as the earth that we are living is still existing.

Wouldn't it be logical if "where" BTC has been ceased, BTC will also be shut down? Because there's no more way we can access BTC.

Quote

Bitcoin solidity won't fade just like that, and since it is decentralized, thinking bitcoin would die is impossible.
And how come that this is a "little" off topic? It is in the Bitcoin Discussion, so it is a little confusing why did you say that.

I'm pinpointing about my comparison about the topic, its like I'm comparing it as a metaphor.

k@suy

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Quote from: Caelanpelley on June 16, 2017, 10:23:33 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?

Bitcoin dies? That can happen. When there is another kind of bitcoin that is better in value, less expensive, the amount of bitcoin users will decrease, which is of course because people are always looking for profit.

Bitcoin will ceased to exist if there are no supporter of it.When no one is using it in their transaction, then it will totally losses its value.But as for now, it seems it wont happen sooner or later.Not in our lifetime I think.

mastadonballs

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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?

The first thing that makes Bitcoin (or maybe other altcoins) disappear is that people no longer use them. And because no one uses them, the price will decrease, the more the coins price decrease, the less users use it and leads to a sure situation that that coin is no longer used

ripplehd1

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Bitcoin will die if more people stop using it because of slow confirmation or too much electricity bills and energy needed to mine bitcoins because if bitcoin does die it will take a lot of money to start it up again and who knows they might ask you to verify your id to use it next time

Rostadom

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Quote from: Caelanpelley on June 16, 2017, 10:23:33 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?

Bitcoin dies? That can happen. When there is another kind of bitcoin that is better in value, less expensive, the amount of bitcoin users will decrease, which is of course because people are always looking for profit.

The price is the value of cryptocurrencies. But let's say you meant "value" as in its worth as something. I really doubt that bitcoin users would just move to that because it's better. You'd see tons of coins out there that claim to be better than bitcoins because they have slight faster confirmation times or that they have good developers. Those are not enough for people to untrust bitcoins and then migrate. Bitcoin has to die on its own.

We're all waiting for the lightning network technology. I even doubt that a coin with lightning network will overthrow bitcoin because bitcoin can just adopt to that. And, the whales don't mind the transaction fee at all. They can be the highest priority if they want since they can afford high fees.

szpalata

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Quote from: blueangel01 on June 16, 2017, 09:58:32 AM

Quote from: knircky on February 09, 2017, 11:51:28 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?

Another crypto overtaking its market cap

surely there are other crypo arising in other countries. They maybe small right now but who knows one day they will be as big as bitcoin ; if people will lose interest about it; if its not properly introduced to the mass and if hackers will try to get into the system

Good, I agree with all the points you sampled but I'd like to add that if the delayed confirmation times and high fees on transactions are not checked so that we all have the same fees and a faster confirmation, it can also lead Bitcoin to die so to speak.

AmeSakibimasu

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there will be no situation would bitcoin die because bitcoin is a kind of program that can people help them in their needs and also to enhance their knowledge even though others are not really appreciated or interested in bitcoin.

Caelanpelley

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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?

Bitcoin dies? That can happen. When there is another kind of bitcoin that is better in value, less expensive, the amount of bitcoin users will decrease, which is of course because people are always looking for profit.

thisappointed

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Quote from: DaftAjax on June 16, 2017, 08:09:39 AM

I think the only way that Bitcoin will go die, is when the TOTAL BREAKDOWN happen, and what I mean about this is not just the internet, but every electronically powered devices or machines, all the power lines are cut down and no power at all, world wide. This is what will kill Bitcoin. I know this is a little off topic but you get the idea right?

Bitcoin would not die like what we are thinking, maybe if this things that you have said would happen in the near future, this will not be enough to kill bitcoin, bitcoin will remain out there, only the devices or the technology would basically become useless without the internet and power. Bitcoin will remain alive as long as the earth that we are living is still existing.

Bitcoin solidity won't fade just like that, and since it is decentralized, thinking bitcoin would die is impossible.
And how come that this is a "little" off topic? It is in the Bitcoin Discussion, so it is a little confusing why did you say that.

DaftAjax

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Quote from: oktana on June 16, 2017, 09:44:37 AM

Quote from: zulkarnaen on June 16, 2017, 09:32:32 AM

Quote from: DaftAjax on June 16, 2017, 08:09:39 AM

I think the only way that Bitcoin will go die, is when the TOTAL BREAKDOWN happen, and what I mean about this is not just the internet, but every electronically powered devices or machines, all the power lines are cut down and no power at all, world wide. This is what will kill Bitcoin. I know this is a little off topic but you get the idea right?

I agree with you maybe in an emergency maybe bitcoin will die, such as absence of internet connection and dissolution of all power grid due to the terrible factor of natural disaster or because of war.
Because i think as long as things are still running normally then bitcoin will not die, if there is still a stable connection or power grid.

That's a very extreme reason, not just bitcoin, all the world's currencies will also die, because the currency value is measured from trading volumes that can only be accessed by all countries online. A more logical reason is that bitcoin will die if the level of public confidence declines sharply, this can happen if there is a stronger development innovation of bitcoin, it can occur in fiat, altcoin, and development of other cryptologies on the same front.

Exactly, that's why it also meant "merely-impossible". Like a lot of things or a lot of reasons and events will have to happen first before the Bitcoin will die.

Rostadom

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Quote from: Smarty14392 on June 16, 2017, 09:40:59 AM

I dont think bitcould would be banned any far. The only reason for banning bitcoin may be the use of bitcoin on deep we. All the illegal activities and black market marketing are carried out by using bitcoin as a mean of payment. If bitcoin is stopped using there, then bitcoin cant be declared illegal.
But for now according to me, bitcoin cant be banned so you can use bitcoin and other altcoins as you want to. Many people have much money invested in bitcoin so it cant jyst run away

With that same logic, the fiat system should have been taken down decades ago. Everyone knows that people are going to use any currency to buy whatever they want and that includes illegal stuffs. If they were to ban bitcoins because it's used in the dark net, then they should have done that when they shut down silk road.

Apparently, you can't kill bitcoins. The president can't just declare that it's banned and the next day no one's using bitcoin anymore. Most bitcoin users know that it will be hard for them to get traced. Those that didn't know that eventually will.

Banning bitcoins will be such a bad move for the government since it will be on the news, people will read about it, and end up having more people use cryptocurrencies.

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