Bitcoin will never die since there will be always people who will use it and it can change form to fit new times.
But it might not be the first global cryptocurrency anymore. If cost of transactions inside it's chain will be too high (and its also related to overall price of BTC) it might change more into passive store of value like physical gold. Then other more flexible and more inflative crypto might become one specialised in transactions and fast micropayments and working as decentralised exchange (maybe HEAT), other one in smart programable contracts like Ethereum, another one for finance creating cheap universal substitute of banking (stocks, currencies, commodieties exchange, ETFs, deals) working globally anywhere for everyone (Veritas).
Bitcoin is powerhouse of innovation for all other cryptos. In time it will specialise to fit it's best sides. But it will lose on other fields, inevitably since nothing perfect. That's just how evolution goes.
Topic: In what situation would Bitcoin die? - page 74. (Read 101794 times)
Except where there is no human on earth.
I don't think there is anything that will kill bitcoin.
Bitcoin has at a point that nothing will destroy or stop it.
I don't think there is anything that will kill bitcoin.
Bitcoin has at a point that nothing will destroy or stop it.
Yes there's no way to destroy bitcoin right now, the only way that I can see to make bitcoin dead is making it's market cap get back to zero. But that is very impossible to happen, because it's already a chart of bitcoin that every day counts the market cap of bitcoin gets higher and there's more people that are investing.
exacly. and making it go back to zero means that there will be no more demand to bitcoin. and i dont think it will happen that the market cap will go back to zero. bitcoin is becoming more popular right now and i dont think there will be something that will make it dead.
We should know that bitcoin is a business, we all are doing business with bitcoin and earn from it. So how we forget it every business has a lose, I mean may be one day we see bitcoin price is going down and down, than definitely people sell them, and then the day will come, when people left the bitcoin. So its mean bitcoin is die.
But i am very and faithful well wisher of bitcoin, so i don't want that the day will come when bitcoin die. But now still bitcoin is good and successful crypto curency, it will not die very soon.
How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
I know that i am late to this board, but it is my understanding that if one miner or owner of bitcoin controls more than 50% control they could potentially ruin the system. Thoughts?How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
I know that i am late to this board, but it is my understanding that if one miner or owner of bitcoin controls more than 50% control they could potentially ruin the system. Thoughts? Except where there is no human on earth.
I don't think there is anything that will kill bitcoin.
Bitcoin has at a point that nothing will destroy or stop it.
Except where there is no human on earth.
I don't think there is anything that will kill bitcoin.
Bitcoin has at a point that nothing will destroy or stop it.
I don't think there is anything that will kill bitcoin.
Bitcoin has at a point that nothing will destroy or stop it.
Yes there's no way to destroy bitcoin right now, the only way that I can see to make bitcoin dead is making it's market cap get back to zero. But that is very impossible to happen, because it's already a chart of bitcoin that every day counts the market cap of bitcoin gets higher and there's more people that are investing.
exacly. and making it go back to zero means that there will be no more demand to bitcoin. and i dont think it will happen that the market cap will go back to zero. bitcoin is becoming more popular right now and i dont think there will be something that will make it dead.
Bitcoin will die if there will be no demand in the market and there is no people using bitcoin because the only source of stability of bitcoin market is its demand so if the market will lack of demand then that will be the reason for bitcoin to die and suffer a huge loss on the market but there is no possibility for bitcoin to experience that because the market is very active now.
Today Watching as Bitcoin has risen more than 1500 dollars, I would like to hear those skeptics who negatively spoke about Bitcoin or even talked about his death. It seems to me that I did not shut my mouth when Bitcoin grows further.I agree with you. There is no longer anything to argue when bitcoin is at its peak, this is the record bitcoin price since its inception. Although it has been a long-lived currency, it has had the same development as its predecessors. One step leaping. Just through my sleep, when I wake up and look at the price of bitcoin. It was my surprise, really surprised, I could not believe myself anymore. Bitcoin is really too strong.
I think only two incident can make bitcoin die. Firstly the price decrease for sure. because we all invested in bitcoin because we know bitcoin has a huge potential to go up in future. So if bitcoin price decrease to an insane level and we see no sign to increase it again, it may die.
secondly, legality issue can destroy bitcoin also. If the governments decide to ban all websites related to bitcoin and start cracking up bitcoin users, then also bitcoin will die unfortunately. However, none of these two incidents would happen very soon and ever.
secondly, legality issue can destroy bitcoin also. If the governments decide to ban all websites related to bitcoin and start cracking up bitcoin users, then also bitcoin will die unfortunately. However, none of these two incidents would happen very soon and ever.
First: There's just too much people that are all-in for the long haul in bitcoins. If the price decrease, some will just hodl, some will protect the coin and put a wall so the price won't go down any further. It's pretty obvious that if the price goes down insanely low, then people are going to pick the coin up, collect as much as they can in hopes that the price would go back to normal and earn profits.
Second: Ehm. Legality issue, I don't think that can ever be considered an issue because bitcoin resides on the Internet. The government has banned tons of activities on the Internet but we have online gambling, porn sites, and drug deals in one quick google Search. And then the deep web has become a total marketplace for people that can't put their online store in the normal web. And it seems that very little to none of this people has ever encountered "legality issues".
Internet is freedom.
If people lose faith in the security of the network for one reason or another then bitcoin could die. no matter how many times i look at the numbers i always have this idea in my head that an address could finally be cracked with a super computer ie one of satoshis old addresses, this would obviously be catastrophic . Maybe after years of not achieving mass adoption price will slowly taper off and die, to me this is the most likely case.
I dont think bitcoin addresses are get cracked very easily or its impossible for now or in near future, people are getting to know more about bitcoin so far it easyy to use and people are using them so no to "die" because of "not achieving mass adoption price" its fluctuate like fiat currency exchangeI don't think that you will be able to mine all bitcoins instantly
Even if you take the most advanced quantum computing device ever possible. How come? Because not all algos are suitable for efficient use in quantum computing. As far as I know, it could be used to crack a certain public key, i.e. to find collisions that would hash to that public key, but this has nothing to do with mining. On the other hand, even if currently used algo is vulnerable, it can be quickly substituted with another, more quantum computing resistant, and we will be back to square one
I think only two incident can make bitcoin die. Firstly the price decrease for sure. because we all invested in bitcoin because we know bitcoin has a huge potential to go up in future. So if bitcoin price decrease to an insane level and we see no sign to increase it again, it may die.
secondly, legality issue can destroy bitcoin also. If the governments decide to ban all websites related to bitcoin and start cracking up bitcoin users, then also bitcoin will die unfortunately. However, none of these two incidents would happen very soon and ever.
secondly, legality issue can destroy bitcoin also. If the governments decide to ban all websites related to bitcoin and start cracking up bitcoin users, then also bitcoin will die unfortunately. However, none of these two incidents would happen very soon and ever.
It includes lots of scenarios like people's trust towards bitcoin, miners stop mining,block chain stop functioning etc .
If people lose faith in the security of the network for one reason or another then bitcoin could die. no matter how many times i look at the numbers i always have this idea in my head that an address could finally be cracked with a super computer ie one of satoshis old addresses, this would obviously be catastrophic . Maybe after years of not achieving mass adoption price will slowly taper off and die, to me this is the most likely case.
I dont think bitcoin addresses are get cracked very easily or its impossible for now or in near future, people are getting to know more about bitcoin so far it easyy to use and people are using them so no to "die" because of "not achieving mass adoption price" its fluctuate like fiat currency exchange
IMO, Bitcoin will die if there will be a big war that will happen because a lot of countries will be involved to that and there is possibility for a huge chaotic situation that can destroyed a lot of structures and soon it will make a lot of people panic and they will sell their bitcoin until bitcoin will get a lot of dump and it will die.
not every country get involved in war or world war, War can put big affect on price of Bitcoin it might be go to 10 to 20 $ but not die. If people lose faith in the security of the network for one reason or another then bitcoin could die. no matter how many times i look at the numbers i always have this idea in my head that an address could finally be cracked with a super computer ie one of satoshis old addresses, this would obviously be catastrophic . Maybe after years of not achieving mass adoption price will slowly taper off and die, to me this is the most likely case.
I dont think bitcoin addresses are get cracked very easily or its impossible for now or in near future, people are getting to know more about bitcoin so far it easyy to use and people are using them so no to "die" because of "not achieving mass adoption price" its fluctuate like fiat currency exchange IMO, Bitcoin will die if there will be a big war that will happen because a lot of countries will be involved to that and there is possibility for a huge chaotic situation that can destroyed a lot of structures and soon it will make a lot of people panic and they will sell their bitcoin until bitcoin will get a lot of dump and it will die.
If will be a big war we all are dead. Everyone will give a shit. But local wars help bitcoin to grow
IMO, Bitcoin will die if there will be a big war that will happen because a lot of countries will be involved to that and there is possibility for a huge chaotic situation that can destroyed a lot of structures and soon it will make a lot of people panic and they will sell their bitcoin until bitcoin will get a lot of dump and it will die.
Bitcoin will die if there will be no demand in the market and there is no people using bitcoin because the only source of stability of bitcoin market is its demand so if the market will lack of demand then that will be the reason for bitcoin to die and suffer a huge loss on the market but there is no possibility for bitcoin to experience that because the market is very active now.
Yes, it exists only because of the constant demand of users as well as any other crypto currency.
Bitcoin will die if there will be no demand in the market and there is no people using bitcoin because the only source of stability of bitcoin market is its demand so if the market will lack of demand then that will be the reason for bitcoin to die and suffer a huge loss on the market but there is no possibility for bitcoin to experience that because the market is very active now.
Yes, it exists only because of the constant demand of users as well as any other crypto currency.
i'v often thought of that when debating whether to buy more coin, and i can't come up with any scenario in which Bitcoin would die, short of the end of the world.
Bitcoin will die if there will be no demand in the market and there is no people using bitcoin because the only source of stability of bitcoin market is its demand so if the market will lack of demand then that will be the reason for bitcoin to die and suffer a huge loss on the market but there is no possibility for bitcoin to experience that because the market is very active now.
Today Watching as Bitcoin has risen more than 1500 dollars, I would like to hear those skeptics who negatively spoke about Bitcoin or even talked about his death. It seems to me that I did not shut my mouth when Bitcoin grows further. Jump to: