How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
There are many ways that bitcoin could die. for example, bitcoin would die if the government would ban bitcoin and declare it as a illegal activity, bitcoin would die if no one would use bitcoin anymore because the price of it is starting to decrease too bad and bitcoin would die if the world war 3 starts because every technology cannot be access also the internet. But we hope that all of these wouldn't happen because this will be a very bad news to us. 
Topic: In what situation would Bitcoin die? - page 77. (Read 101822 times)
Well bitcoin say may not die unless all major countries like China, US and Europe decides to ban btc.
Well if your country bans then btc for you may die.
If anything news comes up better than btc in coming time then its usage may get reduced and in coming time may die.
I don't think the three countries above are quite influential, which I know the Chinese government forbids the use of bitcoin but the bitcoin users there still use bitcoin to avoid taxes. No bitcoin is not dead for the next few years but do not know later after the technology is growing rapidly whether bitcoin can survive because there is a possibility that later there will appear a new currency. Well if your country bans then btc for you may die.
If anything news comes up better than btc in coming time then its usage may get reduced and in coming time may die.
Well bitcoin say may not die unless all major countries like China, US and Europe decides to ban btc.
Well if your country bans then btc for you may die.
If anything news comes up better than btc in coming time then its usage may get reduced and in coming time may die.
Well if your country bans then btc for you may die.
If anything news comes up better than btc in coming time then its usage may get reduced and in coming time may die.
Probably would die out if the government really wanted to regulate it / put pressure on anyone who uses it, mines it, buys, sells, so on and so forth which would pretty much cause anyone and everyone who used it would kinda be forced to stop. I know a lot people on this forum come out and say how they wouldn't stop even if the government was forcing them to leave this.
Think about it like this, would you rather have this cryptocurrency or your livelihood and everything that comes with it? I highly doubt anyone is going to come to the conclusion of the niche cryptocurrency that we're all apart of.
Unless you have no livelihood then, yeah you'd pick this.
But a government can only make it illegal in their jurisdiction and not the whole world this is similar to what is happening with the war on drugs, on some places marijuana is legal while in others is illegal, so as long as it is legal where you are you are fine. Think about it like this, would you rather have this cryptocurrency or your livelihood and everything that comes with it? I highly doubt anyone is going to come to the conclusion of the niche cryptocurrency that we're all apart of.
Unless you have no livelihood then, yeah you'd pick this.
Probably would die out if the government really wanted to regulate it / put pressure on anyone who uses it, mines it, buys, sells, so on and so forth which would pretty much cause anyone and everyone who used it would kinda be forced to stop. I know a lot people on this forum come out and say how they wouldn't stop even if the government was forcing them to leave this.
Think about it like this, would you rather have this cryptocurrency or your livelihood and everything that comes with it? I highly doubt anyone is going to come to the conclusion of the niche cryptocurrency that we're all apart of.
Unless you have no livelihood then, yeah you'd pick this.
Think about it like this, would you rather have this cryptocurrency or your livelihood and everything that comes with it? I highly doubt anyone is going to come to the conclusion of the niche cryptocurrency that we're all apart of.
Unless you have no livelihood then, yeah you'd pick this.
How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
if all of the countries will banned it, and if hackers put down all the bitcoin sites and online wallet that many of us is using , that would probably the problem i think. I think bitcoin will not lose very easily.
Banning seems something impossible when you talk about the free world. Off course some more conservative countries may want to do that.
But remember too that bitcoin is online, banning something which is online is hard. Other ways that bitcoin dies, like a new altcoin are just anticipation and speculation.
I don't think that bitcoin will ever die in future as the price of bitcoin is moving in a positive direction and in future it will be even more higher when more people will start investing their funds into it and it will only keep on growing over a period of time.
there is no harm to be optimistic ,but don't forget about an aticipation for something worst too ,
bitcoin are indeed in the great run recently move from $700 upt to almost $1,300 now!
die or disappear absolutely not an option , no sign also so far.
I think that this is possible only if there is a new cryptocurrency that will surpass Bitcoin, but the chances of it are very small.
It has been discussed and said by a lot of people here. As of now, it is not ever be possible if you will look at what the price of bitcoin is right now and if you are updated with the news, Japan now has accepted bitcoin and this is going to make the demand of bitcoin higher and those new crypto currency that are going to come in will be just good for trading.
No doubt that Japan started to accept bitcoins but there is no guarantee that other countries will also follow the same and even Japan can withdraw their decision of using bitcoins so anything is possible in coming days and we cannot be sure about anything when it comes to bitcoins.
It depends to their government but it's a possibility that they are going to have a good feed back in bitcoins. It's an example already that Japan has accepted bitcoin that it is going to make others accept too. Because it's a very innovative country and considered as a rich country although it is a small one, I believe that. So there's no way bitcoin would die.
How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
if all of the countries will banned it, and if hackers put down all the bitcoin sites and online wallet that many of us is using , that would probably the problem i think. I think bitcoin will not lose very easily.
Banning seems something impossible when you talk about the free world. Off course some more conservative countries may want to do that.
But remember too that bitcoin is online, banning something which is online is hard. Other ways that bitcoin dies, like a new altcoin are just anticipation and speculation.
I don't think that bitcoin will ever die in future as the price of bitcoin is moving in a positive direction and in future it will be even more higher when more people will start investing their funds into it and it will only keep on growing over a period of time.
Banning bitcoin does not mean anything to me. If they ban the internet I can say "yeah bitcoin was banned."
You are right, but no one can banned it. I mean government can't track you even if you want to use it and i think they know that. So i don't think that bitcoin will die in any of situations. They can ban and block those bitcoin or crypto currency sites but they will never know who are those people that are keep on doing it. There's no way for the government now to ban bitcoin because this can help the government to collect a lot of tax and if this ever happens for sure many are going to keep on using it.
--DarkSecrets-- you're right about it, nice comments on this issue.
I think that this is possible only if there is a new cryptocurrency that will surpass Bitcoin, but the chances of it are very small.
It has been discussed and said by a lot of people here. As of now, it is not ever be possible if you will look at what the price of bitcoin is right now and if you are updated with the news, Japan now has accepted bitcoin and this is going to make the demand of bitcoin higher and those new crypto currency that are going to come in will be just good for trading.
No doubt that Japan started to accept bitcoins but there is no guarantee that other countries will also follow the same and even Japan can withdraw their decision of using bitcoins so anything is possible in coming days and we cannot be sure about anything when it comes to bitcoins.
I think that this is possible only if there is a new cryptocurrency that will surpass Bitcoin, but the chances of it are very small.
It has been discussed and said by a lot of people here. As of now, it is not ever be possible if you will look at what the price of bitcoin is right now and if you are updated with the news, Japan now has accepted bitcoin and this is going to make the demand of bitcoin higher and those new crypto currency that are going to come in will be just good for trading.
The most obvious answer in this is when no one is using bitcoin when no one is using bitcoin bitcoin price will go down so fast in just a split second the price of the bitcoin depend in the demand of bitcoin if no one using bitcoin in all over the globe the bitcoin will die in this point when the price is so low no one will be interested to buy it.
How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
if all of the countries will banned it, and if hackers put down all the bitcoin sites and online wallet that many of us is using , that would probably the problem i think. I think bitcoin will not lose very easily.
Banning seems something impossible when you talk about the free world. Off course some more conservative countries may want to do that.
But remember too that bitcoin is online, banning something which is online is hard. Other ways that bitcoin dies, like a new altcoin are just anticipation and speculation.
Those are the advantages of decentralization. Since there is no central server that controls bitcoin, hackers or the government do not have a single point where they will attack. As far as I know, bitcoin lies on the internet itself so nobody can easily attack it, actually I do not know where they will attack bitcoin. So for me, if they want to kill bitcoin then they must kill internet first then the death of bitcoin follows.
I think that this is possible only if there is a new cryptocurrency that will surpass Bitcoin, but the chances of it are very small.
Exactly the chances are very less and if we say a new currency introduce in the market and have ability to surpass bitcoin then it will take a long time because bitcoin takes many years to reach that position so bitcoin will give a tough time to new comer isn't it?
I highly agree that Bitcoin being in the business for a long time is truth to be told. It has proven how tough it is for it has been tested by a lot of attackers from the past but still look at Bitcoin who is still standing firm. It has earned its reputation and a lot of people has become witness to foretold the product of Bitcoin in their lives.
I think that this is possible only if there is a new cryptocurrency that will surpass Bitcoin, but the chances of it are very small.
Exactly the chances are very less and if we say a new currency introduce in the market and have ability to surpass bitcoin then it will take a long time because bitcoin takes many years to reach that position so bitcoin will give a tough time to new comer isn't it?
I highly agree that Bitcoin being in the business for a long time is truth to be told. It has proven how tough it is for it has been tested by a lot of attackers from the past but still look at Bitcoin who is still standing firm. It has earned its reputation and a lot of people has become witness to foretold the product of Bitcoin in their lives.
I think that this is possible only if there is a new cryptocurrency that will surpass Bitcoin, but the chances of it are very small.
Exactly the chances are very less and if we say a new currency introduce in the market and have ability to surpass bitcoin then it will take a long time because bitcoin takes many years to reach that position so bitcoin will give a tough time to new comer isn't it?
If the governments of many large countries forbid bitcoins at the level of law, bitcoin may die.
He will lose popularity among most people. And this is the death of the crypto currency. But we already see that many countries went the other way, favorable for bitcoin
He will lose popularity among most people. And this is the death of the crypto currency. But we already see that many countries went the other way, favorable for bitcoin
Or maybe it will increase its popularity. The media has been holding back information like this because they don't want the mass to find out that such thing exists. Making bitcoin illegal will be in the news and non-bitcoin users will find out about it and do their research about the coin because they will be wondering why did the government ban it out of nowhere.
This might actually be a win situation for bitcoin and it can be the birth of a monetary revolution. Everyone has been working all day and all night to earn fiat when fiat is just inflating everyday. The value of fiat workers go down continuously.
How and why would the end of bitcoin (and any other cryptocurrency) occur? Value decrease? Legality issues? Different technology/ideas to supersede it?
if all of the countries will banned it, and if hackers put down all the bitcoin sites and online wallet that many of us is using , that would probably the problem i think. I think bitcoin will not lose very easily.
Banning seems something impossible when you talk about the free world. Off course some more conservative countries may want to do that.
But remember too that bitcoin is online, banning something which is online is hard. Other ways that bitcoin dies, like a new altcoin are just anticipation and speculation.
Those are the advantages of decentralization. Since there is no central server that controls bitcoin, hackers or the government do not have a single point where they will attack. As far as I know, bitcoin lies on the internet itself so nobody can easily attack it, actually I do not know where they will attack bitcoin. So for me, if they want to kill bitcoin then they must kill internet first then the death of bitcoin follows.
Now it's difficult to destroy bitcoin, because everyone needs the Internet and will not be turned off just to destroy bitcoin.
Indeed. Even the government rely on the internet to provide services as well as some businesses worldwide needs internet. So this is a great characteristic of bitcoin being decentralized.
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