Topic: In what situation would Bitcoin die? - page 78. (Read 101822 times)
I think Bitcoin couldn't only "die" this is very improbable)
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.
I think Bitcoin will dead if every country decides to ban Bitcoin permanently. Then, there will be no more people using Bitcoin because they might be arrested in this condition. And bitcoin can also be dead if there are a new cryptocurrency which is more profitable, more advance and can fix most of the bug of bitcoin. In the future, there will be more cryptos qualifying these facors.
yes you are probably correct, it will be die if some countries will banned it permanently, and in some areas in the world I think, surfing in the internet is prohibited, but not all the country it is prohibited there are few.
I don't think that there is any country that has prohibited the usage of internet as its not illegal to use internet and all countries needs internet to carry out their businesses but there are few countries that have banned bitcoins permanently and people cannot use it freely like other countries.
Hmm. How about North Korea? It's the only communist country and the Internet surely is banned there. Because otherwise, we should already have leaks about the stuffs that's going on in their country. But right now, we have very little to no idea at all.
It's not that the internet is illegal to use in a country, but there are places where bitcoin is simply inaccessible. It's also the reason why bitcoin's mass adoption's possibility is still being questioned every now and then.
Also, the Internet is such an important thing in this world as of now. If it goes down for a whole 24 hours, people will panic and it will cause a lot of inconvenience and delay to the mass. Making it illegal will cause chaos.
North Korea is irrelevant since it is not a major player
Though it can still (try to) nuke Japan which is going to become a major player in Bitcoin very soon (if not already). It is the same with Internet, the backward places which have limited access to Internet (or no access at all) are inconsequential to Bitcoin (and they are as irrelevant for digital fiat transactions too). Apart from that, banning Internet seems to be next to impossible since plenty of companies came to depend on it. In other words, it has become an integral part of our lives and we certainly won't part with it easily
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.
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.
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.
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.
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
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 would die because you can only use it in the internet. For example bitcoin would die if no one is longer uses bitcoin, if the government wants to shutdown and ban bitcoin that would be possible but i hope it will not and last if there is no longer internet connection because of world war.
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 would die because you can only use it in the internet. For example bitcoin would die if no one is longer uses bitcoin, if the government wants to shutdown and ban bitcoin that would be possible but i hope it will not and last if there is no longer internet connection because of world war.
Bitcoin can ended with different ways. Today we can only suppose how, but only the future can show us what is going to be in fact.
There are only two possibilities in which bitcoin can die.
Either people stop using it or there comes some new currency which is better then bitcoins and if that happens then I think bitcoin can disappear in quick time but as of now I think everything is fine with bitcoins.
Either people stop using it or there comes some new currency which is better then bitcoins and if that happens then I think bitcoin can disappear in quick time but as of now I think everything is fine with bitcoins.
Very smart, directly to the point. Only these two possibilities could make bitcoin die. But there are infinity causes to reach to these two possibilities, like persons trying to sabotage bitcoin, it's the worse and most dangerous possible cause to the bitcoin failure.
And there are many others causes, we need to be aware about everything to protect bitcoin against threats.
With the users all over the world uaing bitcoin, I think it is now unstoppable. The users are increasing especially they are now accepted in Japan. And networks will not go anywhere, do you think companies or even governments will not a make a solution to fix the network if it falls? Even the electricity? Nowadays they are essential to our lives, they are even needed for our jobs.
That's the technology, all have periods of popularity. Although the system is very neat and Nice, but if they can't maintain the popularity that has been built so slowly but surely these technologies will die and be replaced with better technology. Bitcoin is indeed likely to be great or very high profits, but that all also depends on users or existing registrants in the bitcoin. Because of all the great help from users and enthusiasts
If the transactions will be slower and slower and if that happens then it means that the miners are getting few and the foundation of the network will be weaker and weaker and that will be the start for bitcoin to die, Or if it starts to cause to much trouble to economy and it would get banned.
I think Bitcoin will dead if every country decides to ban Bitcoin permanently. Then, there will be no more people using Bitcoin because they might be arrested in this condition. And bitcoin can also be dead if there are a new cryptocurrency which is more profitable, more advance and can fix most of the bug of bitcoin. In the future, there will be more cryptos qualifying these facors.
yes you are probably correct, it will be die if some countries will banned it permanently, and in some areas in the world I think, surfing in the internet is prohibited, but not all the country it is prohibited there are few.
I don't think that there is any country that has prohibited the usage of internet as its not illegal to use internet and all countries needs internet to carry out their businesses but there are few countries that have banned bitcoins permanently and people cannot use it freely like other countries.
Hmm. How about North Korea? It's the only communist country and the Internet surely is banned there. Because otherwise, we should already have leaks about the stuffs that's going on in their country. But right now, we have very little to no idea at all.
It's not that the internet is illegal to use in a country, but there are places where bitcoin is simply inaccessible. It's also the reason why bitcoin's mass adoption's possibility is still being questioned every now and then.
Also, the Internet is such an important thing in this world as of now. If it goes down for a whole 24 hours, people will panic and it will cause a lot of inconvenience and delay to the mass. Making it illegal will cause chaos.
We all know that bitcoin can die in just a second bitcoin price can go down in just a split second first i think is when bitcoin is hack but at this rate we know that bitcoin cannot be hack because of a great unlockable code it has and second situation is when there are no people who using bitcoin when there is no bitcoin demand bitcoin would die.
I doubt that the price would go from 1K USD to zero in just a second. I doubt that it will ever even go down to that. Not every coin is being trade and not everyone has a plan to dump his coin when the price of bitcoin starts to go down. Of course there would be people that's going to sell their coin during the crash so they can buy at the lowest dip, but not everyone's going to do that. Not everyone's going to panic sell or take advantage of the situation. There will be people just holding their bitcoin and simply wait for the price to go back to normal as usual.
We all know that bitcoin can die in just a second bitcoin price can go down in just a split second first i think is when bitcoin is hack but at this rate we know that bitcoin cannot be hack because of a great unlockable code it has and second situation is when there are no people who using bitcoin when there is no bitcoin demand bitcoin would die.
I think Bitcoin will dead if every country decides to ban Bitcoin permanently. Then, there will be no more people using Bitcoin because they might be arrested in this condition. And bitcoin can also be dead if there are a new cryptocurrency which is more profitable, more advance and can fix most of the bug of bitcoin. In the future, there will be more cryptos qualifying these facors.
"I think Bitcoin will dead if every country decides to ban Bitcoin permanently..." that will eventually lead to inflation (increase in price) within the bitcoin niche not death.
Come to think of it what will make all country to ban such virtual currency if, it's beneficial to them?
Thanks
I hope bitcoin will last forever. Bitcoin is the hope of the internet enthusiast to be able to earn money easily
We absolutely have a basis to believe that bitcoin can last forever. However, you can only make money from it if you know how to do it, otherwise you will lose money heavily.
I hope bitcoin will last forever. Bitcoin is the hope of the internet enthusiast to be able to earn money easily
Bitcoin will not last forever because it is limited and even now there is a lot of problems for bitcoin that is needed to fix by the developers like the slow confirmation and high rate of fees, if those problems will not be fix then it will be a huge problem for bitcoin to just die and it will make the bitcoin part of the history. 
No demand for Bitcoin then it will surely die out which I see for now is very unlikely to happen due to the fact that the demand of it is continuosly increasing together with the benefits it offers compared to fiat or to other currencies.
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