In what situation would Bitcoin die? - page 85.

SirPol85

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Quote from: SamsungBitcoin on April 17, 2017, 07:30:42 AM

Quote from: Wayan_Pedjeng on April 17, 2017, 06:48:54 AM

A government ban is one of such scenarios. If the government makes the possession of Bitcoins a criminal offense, then very few people will be willing to take the risk.

I think that is not the thing that can bitcoin die because now there are some country which bitcoin is already ban but lots of people there are continuous collection bitcoin using vpn.

Yes, it does not destroy bitcoin. Many users already simply can not do without it and they will have to go through the trick.

SamsungBitcoin

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Quote from: Wayan_Pedjeng on April 17, 2017, 06:48:54 AM

A government ban is one of such scenarios. If the government makes the possession of Bitcoins a criminal offense, then very few people will be willing to take the risk.

I think that is not the thing that can bitcoin die because now there are some country which bitcoin is already ban but lots of people there are continuous collection bitcoin using vpn.

SirPol85

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Quote from: Wayan_Pedjeng on April 17, 2017, 06:48:54 AM

A government ban is one of such scenarios. If the government makes the possession of Bitcoins a criminal offense, then very few people will be willing to take the risk.

The government does a lot of things, but people who really need it find ways to circumvent the ban. For some, on the contrary, everything forbidden seems even more fascinating than legal.

Wayan_Pedjeng

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A government ban is one of such scenarios. If the government makes the possession of Bitcoins a criminal offense, then very few people will be willing to take the risk.

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Quote from: MintCondition on April 17, 2017, 03:08:45 AM

Quote from: DoublerHunter on April 17, 2017, 01:20:06 AM

Quote from: Nagadota on April 17, 2017, 01:08:58 AM

How Bitcoin would die, in theory:

-Bitfinex and USDT crash the market, or a lack of consensus from scaling, or both

-Mining becomes unprofitable for anyone except Jihan Wu

-Mining becomes extremely monopolised

-Bitcoin is no longer decentralised, thus the majority of people using it decide it's no longer what it's supposed to be and leave

-Mining becomes unprofitable even for Jihan Wu

-Bitcoin dies.

I see that the most concern in your post is all about mining which is i agree with. If mining will not profitable anymore then it will become a reason for miners to leave bitcoin and if miners will leave bitcoin then there is no people supports the network and network eventually dies and it will become a reason for investors to leave also and sell their coins.

It will only die if it will be shut down by the system, its developer or if internet gone. Bitcoin values as of now is getting favorable for its user, it is highly appreciated in terms of its features and value. The only downfall of its now is its delay for accepting or submitting transfers. There is only a need to develop its transaction speed .other than that it all works smoothly.

Yeah and it can also die if people stop using it completely in future but I don't think that will ever happen but bitcoin should resolve the issue of delay in confirmation time as that can be also an reason for people to not use bitcoins in future.

MintCondition

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Quote from: DoublerHunter on April 17, 2017, 01:20:06 AM

Quote from: Nagadota on April 17, 2017, 01:08:58 AM

How Bitcoin would die, in theory:

-Bitfinex and USDT crash the market, or a lack of consensus from scaling, or both

-Mining becomes unprofitable for anyone except Jihan Wu

-Mining becomes extremely monopolised

-Bitcoin is no longer decentralised, thus the majority of people using it decide it's no longer what it's supposed to be and leave

-Mining becomes unprofitable even for Jihan Wu

-Bitcoin dies.

I see that the most concern in your post is all about mining which is i agree with. If mining will not profitable anymore then it will become a reason for miners to leave bitcoin and if miners will leave bitcoin then there is no people supports the network and network eventually dies and it will become a reason for investors to leave also and sell their coins.

It will only die if it will be shut down by the system, its developer or if internet gone. Bitcoin values as of now is getting favorable for its user, it is highly appreciated in terms of its features and value. The only downfall of its now is its delay for accepting or submitting transfers. There is only a need to develop its transaction speed .other than that it all works smoothly.

DoublerHunter

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Quote from: Nagadota on April 17, 2017, 01:08:58 AM

How Bitcoin would die, in theory:

-Bitfinex and USDT crash the market, or a lack of consensus from scaling, or both

-Mining becomes unprofitable for anyone except Jihan Wu

-Mining becomes extremely monopolised

-Bitcoin is no longer decentralised, thus the majority of people using it decide it's no longer what it's supposed to be and leave

-Mining becomes unprofitable even for Jihan Wu

-Bitcoin dies.

I see that the most concern in your post is all about mining which is i agree with. If mining will not profitable anymore then it will become a reason for miners to leave bitcoin and if miners will leave bitcoin then there is no people supports the network and network eventually dies and it will become a reason for investors to leave also and sell their coins.

Nagadota

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How Bitcoin would die, in theory:

-Bitfinex and USDT crash the market, or a lack of consensus from scaling, or both

-Mining becomes unprofitable for anyone except Jihan Wu

-Mining becomes extremely monopolised

-Bitcoin is no longer decentralised, thus the majority of people using it decide it's no longer what it's supposed to be and leave

-Mining becomes unprofitable even for Jihan Wu

-Bitcoin dies.

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Quote from: wahb on April 16, 2017, 06:55:26 PM

Quote from: Vaskiy on April 16, 2017, 06:27:12 AM

Quote from: ekoice on April 16, 2017, 04:53:47 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 may die when Quantum computing would be introduced.But it would take around 20 more years for it to be introduced.But i hope necessary developments would be made by that time to save bitcoins.Bankers and governments have tried a lot to destroy bitcoins but they couldnot.

I don't think it dies in a short or after some innovation. Even after 20 more years the quantum computing might help in making bitcoin more potential. Better the computing power better will be the bitcoin growth. So it won't lead towards the fall of bitcoin.

yes bitcoin is not going to die in any situation, as currency bitcoin is really trading in a high value and still people are putting trust on bitcoin therefore bitcoin is not going to die, hope that it will survive for ever.

How you will assure that in any situation it wont die ? Even though the fact that we see the continues growth of market price we dont guaranteed that it will last .The question corresponds in what situation it will die and not that to push that bitcoin is not going to die .

There are many possiblities but we don't know it yet anything can happen so as long as the bitcoin has a use and keep on circulating it will be alive .If it dumps hard maybe its the time for the investors to not trust bitcoins and probably slowly to die.

wahb

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Quote from: Vaskiy on April 16, 2017, 06:27:12 AM

Quote from: ekoice on April 16, 2017, 04:53:47 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 may die when Quantum computing would be introduced.But it would take around 20 more years for it to be introduced.But i hope necessary developments would be made by that time to save bitcoins.Bankers and governments have tried a lot to destroy bitcoins but they couldnot.

I don't think it dies in a short or after some innovation. Even after 20 more years the quantum computing might help in making bitcoin more potential. Better the computing power better will be the bitcoin growth. So it won't lead towards the fall of bitcoin.

yes bitcoin is not going to die in any situation, as currency bitcoin is really trading in a high value and still people are putting trust on bitcoin therefore bitcoin is not going to die, hope that it will survive for ever.

dearbesz1219

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Quote from: basketcoin on February 09, 2017, 01:06:43 PM

When the trust will fall. Which is never becuase is is anonymous. Thats my guess

Bitcoin is not 100% anonymous, but it is very easy to use and usage of bitcoin together with the features of it was too helpful to anyone especialy in terms of business investment. Therefore, bitcoin is will not gonna die in situation like this, particularly nowadays it continously in progress.

tunctioncloud

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The only situation where Bitcoin would die would be in the case where the Internet would stop to function and in the case where there would be a durable worldwide electrical shutdown. The reasons why it would stop to function would not need to be precised I guess.

Vaskiy

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Quote from: ekoice on April 16, 2017, 04:53:47 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 may die when Quantum computing would be introduced.But it would take around 20 more years for it to be introduced.But i hope necessary developments would be made by that time to save bitcoins.Bankers and governments have tried a lot to destroy bitcoins but they couldnot.

I don't think it dies in a short or after some innovation. Even after 20 more years the quantum computing might help in making bitcoin more potential. Better the computing power better will be the bitcoin growth. So it won't lead towards the fall of bitcoin.

logicgate

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Quote from: Afnan_faizah on April 16, 2017, 01:01:41 AM

I think bitcoin will be die if no one use bitcoin. Because people that make bitcoin is worthed. There are a lot of people that use bitcoin for their daily life especially some people in city that so many merchant in there that accept bitcoin.

yes you are right that the value of bitcoin depend on the number of users, if the people stop using it than bitcoin would die. but here i think that due to bitcoin a large number of people get their income by earning, and also alot of people get employment from bitcoin forum,so there is alot of benefits from bitcoin so how could they stop using bitcoin.

ekoice

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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 may die when Quantum computing would be introduced.But it would take around 20 more years for it to be introduced.But i hope necessary developments would be made by that time to save bitcoins.Bankers and governments have tried a lot to destroy bitcoins but they couldnot.

Dem-artini

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Quote from: DoublerHunter on April 16, 2017, 02:27:29 AM

Quote from: Afnan_faizah on April 16, 2017, 01:01:41 AM

I think bitcoin will be die if no one use bitcoin. Because people that make bitcoin is worthed. There are a lot of people that use bitcoin for their daily life especially some people in city that so many merchant in there that accept bitcoin.

Yes, that will be the worst case scenario for bitcoin. If no one will use bitcoin then bitcoin will be just worthless thing in the internet because its value will be down on $0 because there is no demand and no one else is buying or using it as their currency so bitcoin will probably die if that happen but i think it is nearly impossible if you compare on what is happening right now.

He won the trust of many and now it is almost impossible. But in the event of war in an economically developed country, bitcoin really can die.

DoublerHunter

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Quote from: Afnan_faizah on April 16, 2017, 01:01:41 AM

I think bitcoin will be die if no one use bitcoin. Because people that make bitcoin is worthed. There are a lot of people that use bitcoin for their daily life especially some people in city that so many merchant in there that accept bitcoin.

Yes, that will be the worst case scenario for bitcoin. If no one will use bitcoin then bitcoin will be just worthless thing in the internet because its value will be down on $0 because there is no demand and no one else is buying or using it as their currency so bitcoin will probably die if that happen but i think it is nearly impossible if you compare on what is happening right now.

Afnan_faizah

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I think bitcoin will be die if no one use bitcoin. Because people that make bitcoin is worthed. There are a lot of people that use bitcoin for their daily life especially some people in city that so many merchant in there that accept bitcoin.

MintCondition

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Quote from: helloeverybody on February 09, 2017, 02:31:58 PM

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.

All that are computer related especially internet function apps and programs have always the possibility of getting cracked. Today there were a lot of programmers trying to knew how ones program function so well,curiosity strikes them. Being cracked,no other developments in bitcoin,plus if there are more cryptocurrency that can perform more than bitcoin can be the reason of bitcoin lost.However this things will not come this soon now it is used by many.

selline

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Quote from: bettercrypto on February 09, 2017, 03:19:32 PM

I think when the blockchain stop moving and everyone lose their interest in Bitcoin. That is the time Bitcoin will die. No miner, no developers, no traders, no merchant and no users. Meaning all the development activities, mining activites etc. stops.

This may be related to each other if the bitcoin without blockchain like a wallet without money so if the have money will not be a place to save similarly bitcoin if no blockchain will first so that it will be gone, probably will not use gradual devotees bitcoin because it feels uncomfortable, and all activity will cease all in bitco site

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