In what situation would Bitcoin die? - page 82.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: Wesimon on April 20, 2017, 12:17:07 PM

Quote from: jackychanxxx on April 20, 2017, 09:38:35 AM

Quote from: staff_1307 on April 20, 2017, 09:35:35 AM

I think that Bitcoin can die in the event that most countries formally make an official ban on him.

technically speaking, can bitcoin really be banned?

You were born yesterday, am I right?

Bitcoin was banned on some countries years ago such as Bangladesh, Bolivia, etc. See for yourself here https://www.cryptocoinsnews.com/top-10-countries-bitcoin-banned/#. That was last May 2015, some countries listed there accepts bitcoin now or on the process of acceting bitcoin. So banning bitcoin in a particular country is very possible. They have their own reason of doing so.

Banning bitcoin within the laws is the easy part, how are they going to enforce the ban is another story, look at file sharing the music and movie industry have done everything in their power to stop people from doing such a thing and nothing has changed bitcoin is similar, for the determined user of bitcoin no ban is going to stop him.

raven7886

legendary

Activity: 1512

Merit: 1041

Quote from: Kotone on April 20, 2017, 12:52:39 PM

Bitcoin will just disappear and no one knows what really happen on bitcoin this is how bitcoin will die in the next 30 years maybe? Because so far bitcoin has lots of users and becoming popular time by time.

Indeed, the only way I see the bitcoin dying is if the developers decide to do something that is not good for the network and for the users, much just like paying more fees and slower transaction, which for a lot of people are the key reason why they are using bitcoin like gamblers and investors, so them making bad decisions may drive people away from bitcoin who are the soul and core of the bitcoin’s success.

olarsson

full member

Activity: 208

Merit: 100

Core team makes Bitcoin slow and bloated and introduces deliberate security volunerabilities with their segwit shit.

elena-tur

sr. member

Activity: 284

Merit: 250

Quote from: logicgate on April 21, 2017, 02:59:08 AM

Quote from: AngelSky on April 20, 2017, 12:25:54 PM

Quote from: Farcoin12 on April 19, 2017, 07:41:01 PM

When there is no more demand for them. Also, if all countries banned the use of bitcoin it would also die. Finally, if there was no more internet connection, all cryptocurrencies would die off.

I do not think demand for bitcoin will reduce which has like now. Rate of adoption over bitcoin and block chain technology is being increased day by day.
As it's a technical era, I do not think internet connection also will be off and bitcoin network also never off.

yes you are right that the bitcoin demand will never decrease in future because the bitcoin is spreading all over the world and technology is being very common in everyday life and i am sure that internet connection will not die off in technical era.

Only in the case of nuclear war this bitcoin technology can be disconnected, and in peacetime it will only develop.

ipungadhi

sr. member

Activity: 272

Merit: 250

Quote from: logicgate on April 21, 2017, 02:59:08 AM

Quote from: AngelSky on April 20, 2017, 12:25:54 PM

Quote from: Farcoin12 on April 19, 2017, 07:41:01 PM

When there is no more demand for them. Also, if all countries banned the use of bitcoin it would also die. Finally, if there was no more internet connection, all cryptocurrencies would die off.

I do not think demand for bitcoin will reduce which has like now. Rate of adoption over bitcoin and block chain technology is being increased day by day.
As it's a technical era, I do not think internet connection also will be off and bitcoin network also never off.

yes you are right that the bitcoin demand will never decrease in future because the bitcoin is spreading all over the world and technology is being very common in everyday life and i am sure that internet connection will not die off in technical era.

The demand for bitcoin can decrease that's what keeps the bitcoin price down. But it will go back up as the user grows. That's why prices will be high in the future

logicgate

sr. member

Activity: 994

Merit: 252

Quote from: AngelSky on April 20, 2017, 12:25:54 PM

Quote from: Farcoin12 on April 19, 2017, 07:41:01 PM

When there is no more demand for them. Also, if all countries banned the use of bitcoin it would also die. Finally, if there was no more internet connection, all cryptocurrencies would die off.

I do not think demand for bitcoin will reduce which has like now. Rate of adoption over bitcoin and block chain technology is being increased day by day.
As it's a technical era, I do not think internet connection also will be off and bitcoin network also never off.

yes you are right that the bitcoin demand will never decrease in future because the bitcoin is spreading all over the world and technology is being very common in everyday life and i am sure that internet connection will not die off in technical era.

bajing

legendary

Activity: 1176

Merit: 1001

The most Professional Cryptocurrency Casino

Quote from: Creepings on April 19, 2017, 04:31:07 PM

Quote from: South Park on April 19, 2017, 04:26:12 PM

Quote from: Jewell on April 13, 2017, 03:21:06 PM

Quote from: South Park on April 13, 2017, 11:35:20 AM

Quote from: uneng on April 12, 2017, 01:26:26 PM

Quote from: Pangia on April 12, 2017, 01:22:33 PM

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.

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.

There are more possibilities for example the disappearance of some of the networks bitcoin depends, bitcoins depends on the electric network and also on the internet, so if one of those were to disappear then bitcoin will most likely disappear since there will not be a way to run bitcoin.

but i do not think that such situation can even happen. because we are not only depending on these things for bitcoin but we are depending on these thing for so many other important issues, as if electricity or internet will down it will effect our life for so many other aspect.

It can happen, it is not very likely to happen but that does not mean it is impossible, but as you said if such networks disappeared then the disappearance of bitcoin will not be such a great deal since we will probably need to worry about food and water at that point.

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.

Yeah if you think for 2 year or serveral year again bitcoin unstoppable but honestly not sure bitcoin still exist for 10-20 year again. ETF reject bitcoin is one the reason make me think one day bitcoin will die and other reason is electricity because the cost of electricity will high in the future and if the price not increased bitcoin will die.

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: mrcash02 on April 20, 2017, 03:10:23 PM

Bitcoin would die if all the connections with internet on the world stops working. We would be unable to access our wallets as Bitcoin exist only in the virtual world. It could happen if a nuclear war, the biggest war of all times destroy all the technology and modern knowledge we have until now. So, we would need to start again from the beginning, when the money was worthless and only the skills could make us live well and safely

I guess in that case Bitcoin and its fate will be the last that would bother you then

Regarding Internet and its failure, if we exclude such disastrous events like nuclear war or an asteroid hitting the Earth, it will be quickly restored since many people and governments alike are more and more dependent on it. It has become now as essential and vital as electricity, automobiles, and phones. I would dare a claim that in the future it will contribute to economies as much as money itself did by greatly facilitating the trade. Money made possible trade between tribes, Internet makes the trade possible between various cultures and countries around the whole world. So it is unlikely that we should expect prolonged Internet "shortages" and "blackouts"

mrcash02

hero member

Activity: 1190

Merit: 525

CryptoTalk.Org - Get Paid for every Post!

Bitcoin would die if all the connections with internet on the world stops working. We would be unable to access our wallets as Bitcoin exist only in the virtual world. It could happen if a nuclear war, the biggest war of all times destroy all the technology and modern knowledge we have until now. So, we would need to start again from the beginning, when the money was worthless and only the skills could make us live well and safely.

speem28

sr. member

Activity: 546

Merit: 255

If an attack in the Bitcoin network occur there might be a possibility that bitcoin may stop functioning. Attacking Bitcoin nodes may intercept bitcoin traffic thus resulting in a delay to block propagation that can cause a significant amount of mining power to be wasted.

Kotone

hero member

Activity: 1372

Merit: 503

Bitcoin will just disappear and no one knows what really happen on bitcoin this is how bitcoin will die in the next 30 years maybe? Because so far bitcoin has lots of users and becoming popular time by time.

AngelSky

hero member

Activity: 1008

Merit: 537

Quote from: Farcoin12 on April 19, 2017, 07:41:01 PM

When there is no more demand for them. Also, if all countries banned the use of bitcoin it would also die. Finally, if there was no more internet connection, all cryptocurrencies would die off.

I do not think demand for bitcoin will reduce which has like now. Rate of adoption over bitcoin and block chain technology is being increased day by day.
As it's a technical era, I do not think internet connection also will be off and bitcoin network also never off.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: aTriz on April 20, 2017, 07:10:42 AM

Quote from: Cangkeman Wae on April 20, 2017, 03:01:16 AM

Quote from: gogoors on April 19, 2017, 11:28:27 PM

Bitcoin will always be needed, as long as people seek secrecy and centralization

We never know if it will always be used, until now all countries no one uses officially, this is the thing I'm worried about about the future of the bitcoin, as long as there is no guarantee can die at any time.

Obviously nothing is guaranteed, thats why saying bitcoin is indestructable is a mistake.

On the other hand, bitcoin does not need any official support from the goverments, because the main idea about rhe most known cryptocurrency is that it should always stay decentralized.

But we cannot let the goverments to be against the bitcoin, we should encourage the rest of community to have a chance of avoiding this.

If that is going to happen, using bitcoin will be not so
great because you basically need to use your bank account to covert it into fiat, and that may cause a problems for you.

If at some point governments feel threatened by bitcoin then there is not much we can do to change the opinion of politicians if they think people are using bitcoin more than traditional banking or if they fell people are avoiding taxes by using bitcoin at that point a bitcoin ban seems almost inevitable.

Wesimon

sr. member

Activity: 406

Merit: 250

https://gexcrypto.io

Quote from: jackychanxxx on April 20, 2017, 09:38:35 AM

Quote from: staff_1307 on April 20, 2017, 09:35:35 AM

I think that Bitcoin can die in the event that most countries formally make an official ban on him.

technically speaking, can bitcoin really be banned?

You were born yesterday, am I right?

Bitcoin was banned on some countries years ago such as Bangladesh, Bolivia, etc. See for yourself here https://www.cryptocoinsnews.com/top-10-countries-bitcoin-banned/#. That was last May 2015, some countries listed there accepts bitcoin now or on the process of acceting bitcoin. So banning bitcoin in a particular country is very possible. They have their own reason of doing so.

jackychanxxx

member

Activity: 62

Merit: 10

Quote from: staff_1307 on April 20, 2017, 09:35:35 AM

I think that Bitcoin can die in the event that most countries formally make an official ban on him.

technically speaking, can bitcoin really be banned?

staff_1307

full member

Activity: 232

Merit: 100

I think that Bitcoin can die in the event that most countries formally make an official ban on him.

aTriz

hero member

Activity: 1232

Merit: 683

Tontogether | Save Smart & Win Big

Quote from: Cangkeman Wae on April 20, 2017, 03:01:16 AM

Quote from: gogoors on April 19, 2017, 11:28:27 PM

Bitcoin will always be needed, as long as people seek secrecy and centralization

We never know if it will always be used, until now all countries no one uses officially, this is the thing I'm worried about about the future of the bitcoin, as long as there is no guarantee can die at any time.

Obviously nothing is guaranteed, thats why saying bitcoin is indestructable is a mistake.

On the other hand, bitcoin does not need any official support from the goverments, because the main idea about rhe most known cryptocurrency is that it should always stay decentralized.

But we cannot let the goverments to be against the bitcoin, we should encourage the rest of community to have a chance of avoiding this.

If that is going to happen, using bitcoin will be not so
great because you basically need to use your bank account to covert it into fiat, and that may cause a problems for you.

Biggapp

sr. member

Activity: 574

Merit: 256

Quote from: Dhimas Kanjeng on April 19, 2017, 07:57:09 PM

Quote from: Farcoin12 on April 19, 2017, 07:41:01 PM

When there is no more demand for them. Also, if all countries banned the use of bitcoin it would also die. Finally, if there was no more internet connection, all cryptocurrencies would die off.

Yes correct I agree with your opinion, when there is no demand then everyone will leave the bitcoin, when there is no request of course prices will drop and bitcoin will die.

i agree with that as you say if there is no demand or request of bitcoin then it would die, but what about those people who has invested a large amount of money and what about those people who has seek jobs or employment in this forum, do you think that they will quit to use bitcoin?
i think those people will not quit to use bitcoin and therefore bitcoin will not die off.

Wandering Soul~

sr. member

Activity: 406

Merit: 250

Wolf

Quote from: Creepings on April 19, 2017, 04:31:07 PM

Quote from: South Park on April 19, 2017, 04:26:12 PM

Quote from: Jewell on April 13, 2017, 03:21:06 PM

Quote from: South Park on April 13, 2017, 11:35:20 AM

Quote from: uneng on April 12, 2017, 01:26:26 PM

Quote from: Pangia on April 12, 2017, 01:22:33 PM

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.

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.

There are more possibilities for example the disappearance of some of the networks bitcoin depends, bitcoins depends on the electric network and also on the internet, so if one of those were to disappear then bitcoin will most likely disappear since there will not be a way to run bitcoin.

but i do not think that such situation can even happen. because we are not only depending on these things for bitcoin but we are depending on these thing for so many other important issues, as if electricity or internet will down it will effect our life for so many other aspect.

It can happen, it is not very likely to happen but that does not mean it is impossible, but as you said if such networks disappeared then the disappearance of bitcoin will not be such a great deal since we will probably need to worry about food and water at that point.

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.

It is definitely unstoppable NOW but we don't know if it will continue that way in the next years . Electricity and internet are not really going to be a problem as the entire population depends on it . What we have to worry is decreasing bitcoin users causing a big price decrease . In most cases I think that bitcoin will survive if the above statements will occur although we shouldn't expect the price to go to the moon, it will be lower than expected .

Cangkeman Wae

member

Activity: 826

Merit: 10

Quote from: gogoors on April 19, 2017, 11:28:27 PM

Bitcoin will always be needed, as long as people seek secrecy and centralization

We never know if it will always be used, until now all countries no one uses officially, this is the thing I'm worried about about the future of the bitcoin, as long as there is no guarantee can die at any time.

Topic: In what situation would Bitcoin die? - page 82. (Read 101822 times)