In what situation would Bitcoin die? - page 72.

btcforall777

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Quote from: espante on May 16, 2017, 12:07:23 PM

Quote from: Urban Crypto on May 16, 2017, 09:20:48 AM

Can someone please explain to me what is meant by "die"? Disappear totally? Out of usage?

That's what I think the word die should mean.

The only scenario I can think of outside of end of the world scenarios is if a huge bitcoin crash of 95% or more leads to a similar amount of mining systems coming offline due to no longer being profitable enough to pay for even electricity in cheap electricity areas. This would cause confirmation times to skyrocket and unconfirmed transactions would increase more than it is now. What would follow is a panic where everyone is selling and eventually the price could get so low the mining difficulty will more or less never adjust and everyone quits bitcoin.

That's the only realistic scenario I can think of but there are many flaws to it too such as people that mine for altruistic reasons, people who don't pay for electricity etc, so it should always be possible to fix these issues within a reasonable timeframe.

Then smart people would start buying all of it up for cheap and start mining. Bitcoin will never end.

espante

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Quote from: Urban Crypto on May 16, 2017, 09:20:48 AM

Can someone please explain to me what is meant by "die"? Disappear totally? Out of usage?

That's what I think the word die should mean.

The only scenario I can think of outside of end of the world scenarios is if a huge bitcoin crash of 95% or more leads to a similar amount of mining systems coming offline due to no longer being profitable enough to pay for even electricity in cheap electricity areas. This would cause confirmation times to skyrocket and unconfirmed transactions would increase more than it is now. What would follow is a panic where everyone is selling and eventually the price could get so low the mining difficulty will more or less never adjust and everyone quits bitcoin.

That's the only realistic scenario I can think of but there are many flaws to it too such as people that mine for altruistic reasons, people who don't pay for electricity etc, so it should always be possible to fix these issues within a reasonable timeframe.

deisik

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Quote from: gordoh on May 16, 2017, 10:23:58 AM

I think the outrageous transaction costs and the slow transfer times is causing serious harm to Bitcoin. I don't think it could possibly die but its flaws are starting to become obvious. There might be room for another coin to take over if this gets worse

This is not a big issue so far

At least, not as big as it could be in the future and not a big issue as long as Bitcoin price continues to increase. Indeed, you can claim that the price might have been a lot higher if not for these drawbacks and shortcomings, and I will likely agree with you (if only purely hypothetically). In practice, though, we have what we have and changing things (which could be construed as directed toward fixing these issues) might (potentially) cause new problems, perhaps even more severe, and then you would be happy that you stayed with "old" Bitcoin. At least, as long as its price continued to rise

gordoh

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I think the outrageous transaction costs and the slow transfer times is causing serious harm to Bitcoin. I don't think it could possibly die but its flaws are starting to become obvious. There might be room for another coin to take over if this gets worse.

Rizky Aditya

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Quote from: liangpodol on May 09, 2017, 01:13:17 PM

Maybe bitcoin will die if everyone stops using it and think about it but I see otherwise bitcoin is even more popular out there and there is the possibility of bitcoin in the future will be more useful for any needs.

yes i don't think that the users of bitcoin will stop using bitcoin because the users of bitcoin is increasing very much and with the passage of time the bitcoin is gaining more and more popularity, people are using bitcoin for many purposes such as they are using bitcoin as employment, investment, trading and for many other purposes and also the services of bitcoin will be increasing in future much more, so i don't think that bitcoin will die.

Urban Crypto

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Can someone please explain to me what is meant by "die"? Disappear totally? Out of usage?

kenybing

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Bitcoin won't go away

.I firmly believe.

makolz26

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:'(I think that the bitcoin would die if there is no such thing like this forum to promote bitcoin and other cryptocurrencies. This forum has big advantage when it comes to promoting bitcoin through the use of different campaigns, with that lot of users and investors have been interested in having their own coin or investing in bitcoin which makes the bitcoin grow.

Urban Crypto

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Quote from: South Park on May 09, 2017, 12:13:52 PM

Quote from: hulla on May 05, 2017, 11:56:19 PM

Quote from: kikeda on May 03, 2017, 02:49:36 PM

Quote from: SharkCoinerHD on May 03, 2017, 02:46:28 PM

Bitcoin will never die

Lol how can you sure about that bitcoin will never die? If people will stop using bitcoins or if price of bitcoins drops dramatically then there is a full chance that bitcoin will die and people will move to some other investments.

You're correct and that's why we need the help of the attorney, law enforcement agency, the government, the media and developers etc. If all the name mention put the effort to make bitcoin great there won't a situation for bitcoin to die.

And why do you think governments, law enforcement, the media want bitcoin to succeed and be great? Bitcoin is a threat to all of those parties, law enforcement see it as a way to move money without any control, the government see it as a way to lose their monopoly of the printing press and the media sees it as a way to lose revenue.

The main challenge is regulation and how the governments treat bitcoin and other cryptos. Will transactions be taxed somehow, casinos regulated, etc...

olliedickman

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Bitcoin will die if developers do not try to do anything to help it and pool developers still want to control bitcoin and the hashrate. Bitcoin is an origin crypto and it is very good to use

MFahad

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Quote from: liangpodol on May 09, 2017, 01:13:17 PM

Maybe bitcoin will die if everyone stops using it and think about it but I see otherwise bitcoin is even more popular out there and there is the possibility of bitcoin in the future will be more useful for any needs.

It is not a valid reason that suddenly people stop to using it and left it and than bitcoin die.
No way, bitcoin is more popular and only one cryto who are using a lot and everyday bitcoin users number is increase and we can see bitcoin price it is a proof that people can't left bitcoin easily and also in future.

liangpodol

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Maybe bitcoin will die if everyone stops using it and think about it but I see otherwise bitcoin is even more popular out there and there is the possibility of bitcoin in the future will be more useful for any needs.

TheCoinGrabber

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1. Total loss of confidence

2. Total war

South Park

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I am terrible at Fantasy Football!!!

Quote from: hulla on May 05, 2017, 11:56:19 PM

Quote from: kikeda on May 03, 2017, 02:49:36 PM

Quote from: SharkCoinerHD on May 03, 2017, 02:46:28 PM

Bitcoin will never die

Lol how can you sure about that bitcoin will never die? If people will stop using bitcoins or if price of bitcoins drops dramatically then there is a full chance that bitcoin will die and people will move to some other investments.

You're correct and that's why we need the help of the attorney, law enforcement agency, the government, the media and developers etc. If all the name mention put the effort to make bitcoin great there won't a situation for bitcoin to die.

And why do you think governments, law enforcement, the media want bitcoin to succeed and be great? Bitcoin is a threat to all of those parties, law enforcement see it as a way to move money without any control, the government see it as a way to lose their monopoly of the printing press and the media sees it as a way to lose revenue.

Rizky Aditya

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Quote from: Ferris419 on May 08, 2017, 08:47:32 PM

Quote from: shadowdio on May 08, 2017, 08:42:03 PM

there is possible that bitcoin will die if some of coins will get popular and being use as a payment method in other online earning sites.

I don't think that bitcoin will die only because some other altcoin will replace it as altcoins are too small in compare to bitcoins and not popular too and looking at the rise in bitcoins its really hard to believe that bitcoin can ever die in future.

yes the bitcoin end will not occur only due to some other altcoin, because the popularity of bitcoin cannot be beat by other altcoin as it has taken a lot of time to become popular and also the number of investors and users in bitcoin are as much that no other altcoin has and due to which the price of bitcoin is as much high that no other altcoin has. So bitcoin cannot be beat by other altcoin and become the cause of its end.

deisik

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Quote from: Jantapw on May 08, 2017, 03:23:57 PM

Mainstream adaption of different coins like ETH, DASH, XMR can cause bitcoins to DIE
I think so

Shills are going to shill

Where is mainstream adoption of any other coin apart from Bitcoin itself and how long are we going to wait for it? These coins have been around for pretty long already. As the saying goes, you can't teach the old dog new tricks (I guess you should have mentioned Dogecoin too). Many people are hoping just for a small correction in Bitcoin, they don't really expect Bitcoin to die any time soon. In other words, spit in a whore's face and she'll say it's raining (welcome to the shills club)

citywise2

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Bitcoin will die if there is no axistence human upon the earth.
I think also that Bitcoin Will also die when there no Internet connection is destroyed.
What i really know is that nothing will stop or destroy bitcoin.

DoublerHunter

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Quote from: gandame on May 09, 2017, 04:21:16 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 end once internet all over the world has become dead because we know that only internet can runs it. And i think that is happen but not now maybe its longer years before it happen.

Being dead of the internet is impossible because a lot of people now are depending to the internet and also a lot of people and companies already made a support for the internet so it will be impossible for the internet to be dead and just like in bitcoin that it will be impossible also, a lot of big people's name already invested in bitcoin already.

gandame

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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 end once internet all over the world has become dead because we know that only internet can runs it. And i think that is happen but not now maybe its longer years before it happen.

MFahad

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Eloncoin.org - Mars, here we come!

Quote from: Ferris419 on May 08, 2017, 08:47:32 PM

Quote from: shadowdio on May 08, 2017, 08:42:03 PM

there is possible that bitcoin will die if some of coins will get popular and being use as a payment method in other online earning sites.

I don't think that bitcoin will die only because some other altcoin will replace it as altcoins are too small in compare to bitcoins and not popular too and looking at the rise in bitcoins its really hard to believe that bitcoin can ever die in future.

Actually If we think any other altcoin will compare the bitcoin, than it is only then happen when a strong and powerful crypto like bitcoin, than this coin beat the bitcoin.
Otherwise it is hard to seem that any altcoin will come to beat the bitcoin easily. But may be in future it will be happened.
But in this time people deeply like bitcoin and they can't agree to use any other crypto instead of bitcoin.

Topic: In what situation would Bitcoin die? - page 72. (Read 101822 times)