In what situation would Bitcoin die? - page 99.

jovs

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Quote from: harizen on February 09, 2017, 12:02:22 PM

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?

Support from the community, if the community will stop using bitcoin at all then no sense now of it's existence. Bitcoin exchanges will now have a ghost volumes since no active traders at all, merchants that accepts bitcoin will remove bitcoin as one of their payment method, Bitcointalk forum will become a ghost forum and many more.

Good thing no such thing like that will happen to bitcoin so long live. Others alts already suffered that less support from the community resulting to a dying coin/s.

I agree the bitcoin is just like an item on a store , the production of bitcoin depends on the demand of the people so if people will stop on supporting the bitcoin no doubt that bitcoin will probably die in the sense of no opportunities and no changes will go on. So if the community especially the people who uses bitcoin on the daily basis will stop on using bitcoin the demand will go down and the price or value will drop also resulting for businesses on closing to accept bitcoin. So no progress will going to happen just like becoming dead.

mr.mister

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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?

There are too many scenarios in which bitcoin or any valuable asset could die for that matter. I think right now the biggest threat to bitcoin is bitmain.

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Quote from: stergium on March 17, 2017, 03:41:59 PM

Quote from: EdenHazard on March 16, 2017, 01:53:47 AM

Quote from: South Park on March 15, 2017, 02:53:24 PM

The end of any other crypto not named bitcoin can be very fast since the investors could just dump the coin and the confidence in the coin plummets, or the devs stop their work and run away with their money, but bitcoin is a lot stronger and I don’t see it dying fro any reason.

the project was too great to be abandoned , that was not reasonable.

bitcoin user has been spread around the world , no matter how much investor dump bitcoin it will not affected too much. the other investor ready to pump it back. the only concern i have are when bitcoin required internet access , then when no internet then no bitcoin transaction , means it is dead.

the ups and down is the nature of bitcoin but in fact the users of bitcoin are increasing from time to time and which is making bitcoin more and more popular and stronger. so bitcoin will continue for a long time.

yes everyone know about how the pump and dump in the market are a normal thing.

but the problem i concerned are when there is no internet access , i know in the future maybe there will more than just internet as technology grow so fast. just wondering when that scenario happened , bitcoin could really totally dead right? no activity without internet.

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Quote from: just_Alice on March 22, 2017, 06:59:23 AM

Quote from: NATHALIA on March 21, 2017, 04:14:10 PM

if one day the us and china government decide to not accept their citizen using bitcoin then it will be the end of bitcoin.

or for exemple if they start to associate bitcoin with terroism..

i wish bitcoin never end

Whether they decide to accept it or not it's irrelevant for Bitcoin's existence. There are many other countries people of which will continue to use BTC. Negative attitude to Bitcoin from any government will result only their citizens to suffer from it, all the other people will be okay and bitcoin will definitely not die.

A problem is that if any of those two countries banned bitcoin is that since the two of them are so influential in the world, it could happen they begin to push for a world wide ban on bitcoin and that will be really troublesome for most of us.

positivezero

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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 would die if no users will use bitcoin, no users would trust bitcoin, and no users would really appreciate on what can do bitcoin can give us (e.g., benefits, freedom). By any chance, it would also really possible that it would die if users would change what they prefer to use (bitcoin) to another cryptocurrency. But in my perception, i would never ever change in another cryptocurrency since bitcoin is the best cryptocurrency i've known in the market (among rest ).

cryp24x

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Quote from: NEWGOODOUBLE on March 22, 2017, 07:50:32 AM

Quote from: ninche on March 18, 2017, 02:15:50 AM

when people stop using it

it is one of them. but of course there are other reasons why bitcoin users do not use anymore?
perhaps because of increasing problems on bitcoin, and bitcoin then present competitors from more intense?

Even people do not use Bitcoin as long as there is someone dedicated to mine the network, Bitcoin will not die. To kill Bitcoin we need to stop the miners, transaction then will be left unconfirmed and the network will not move and stay idle. With this, blockchain not moving will means Bitcoin had die.

NEWGOODOUBLE

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Quote from: ninche on March 18, 2017, 02:15:50 AM

when people stop using it

it is one of them. but of course there are other reasons why bitcoin users do not use anymore?
perhaps because of increasing problems on bitcoin, and bitcoin then present competitors from more intense?

just_Alice

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Quote from: NATHALIA on March 21, 2017, 04:14:10 PM

if one day the us and china government decide to not accept their citizen using bitcoin then it will be the end of bitcoin.

or for exemple if they start to associate bitcoin with terroism..

i wish bitcoin never end

Whether they decide to accept it or not it's irrelevant for Bitcoin's existence. There are many other countries people of which will continue to use BTC. Negative attitude to Bitcoin from any government will result only their citizens to suffer from it, all the other people will be okay and bitcoin will definitely not die.

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Quote from: NATHALIA on March 21, 2017, 04:14:10 PM

if one day the us and china government decide to not accept their citizen using bitcoin then it will be the end of bitcoin.

or for exemple if they start to associate bitcoin with terroism..

i wish bitcoin never end

if this is really happen, i am sure that bitcoin user will find a way to still using bitcoin and somehow i am sure we will found it. bitcoin will die if there is no one will use bitcoin for any of reason and just abandon bitcoin in the dark room but as long as there is a light for bitcoin even for small light, then i am sure bitcoin will be exist for a long time.

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Quote from: Japinat on March 22, 2017, 03:28:58 AM

Quote from: Janation on March 21, 2017, 03:49:08 PM

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 is a digital currency eventually will die without its value, without value, just mean it has no users and demand, which means it is dead. I think it will be not having a value anymore because the peolle will be having a problem with it, the transactions, the blockchain. But I think bitcoin will not die because there are so many people who trusts this digital currency.

We the users are the reason why bitcoin is successful now and we can also be the reason if bitcoin will die. As long as we continue supporting, it will always be there but the moment we are discourage from using bitcoin due to some legal implication we might face, we will lose the interest of using it to keep ourselves safe.

Other possibilities also are when there's an altcoin that will attract more investors and supporters than bitcoin, for sure it will leave bitcoin to be worthless. Those are just possibilities actually but I think bitcoin is a very strong to be able to be replace by something new.

I don't think that I, as a user, matter at all in the bitcoin world. The whole thing can go on without me and you. So is the bitcoin's life. The ones that matter the most are the whales. If they team up and dump the whole market and move to a different coin, then we're all doomed. The only thing we can do is follow the crowd and sell our coins. This is the exact reason why people panic sell. They think that whales are selling and so they also should.

Although we are the most important factor, the users, as an individual we don't matter that much. We matter as a whole.

Japinat

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Quote from: Janation on March 21, 2017, 03:49:08 PM

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 is a digital currency eventually will die without its value, without value, just mean it has no users and demand, which means it is dead. I think it will be not having a value anymore because the peolle will be having a problem with it, the transactions, the blockchain. But I think bitcoin will not die because there are so many people who trusts this digital currency.

We the users are the reason why bitcoin is successful now and we can also be the reason if bitcoin will die. As long as we continue supporting, it will always be there but the moment we are discourage from using bitcoin due to some legal implication we might face, we will lose the interest of using it to keep ourselves safe.

Other possibilities also are when there's an altcoin that will attract more investors and supporters than bitcoin, for sure it will leave bitcoin to be worthless. Those are just possibilities actually but I think bitcoin is a very strong to be able to be replace by something new.

Yanisumin

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In the mean time, Bitcoin is the most popular Cryptocurrency. We all know that through time everything fades and I think Bitcoin will die in the following reasons.

If a natural phenomenon happens, causing all countries to be in the state of calamity where 80% of worlds telecommunications will be destroyed. Bitcoin is using the internet as it's highway, the run will stop when the runway is destroyed.

Conflicts between nations that will result in war. Through advanced weaponry, massive destruction will happen if a world war occurs causing billions of people to die. Bitcoin will die if it has no user.

A better Cryptocurrency will born. We all know that bitcoin has many competitive rivals. Bitcoin will lost its value if people will turn to another Cryptocurrency.

NATHALIA

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if one day the us and china government decide to not accept their citizen using bitcoin then it will be the end of bitcoin.

or for exemple if they start to associate bitcoin with terroism..

i wish bitcoin never end

DomainMagnate

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Quote from: AicecreaME on March 18, 2017, 08:27:56 AM

Quote from: mornabo on March 18, 2017, 04:55:33 AM

Quote from: n0ne on March 17, 2017, 10:30:32 PM

Quote from: rozee on March 17, 2017, 06:08:18 PM

bitcoin will die if internet connection is die too, because we can't access it without internet and it will die when people's find new future money which it's better than bitcoin, and more valuable from bitcoin,low fees and fast transaction

Right now the internet plays the key role in the digital money growth. Bitcoin dies if none is there to take bitcoin to the technology upliftment same as what's happening right now. Some other digital currency taking power over bitcoin will surely cause a negative impact on the growth but till 21 million gets mined no need to think about death.

Internet is the technology of the future. if the Internet is dead then the future will be threatened. so I think the internet will never die. Internet will continue to live as a major requirement of the human

Of course internet would never die because we are in the information age, Internet is one of the things that we need to perform a certain task, because everything will become worthless, like the technologies that we have right now without the internet, and also bitcoin. Since it was made with the internet, I mean it will only work if there is an internet, so without the internet, there will also no bitcoin.

NO one can say for sure what will happen in future but if some better coin develop ,then it can replace bitcoin and bitcoin would be dead.Technology has very short life and with time it keep changing.Bitcoin is also a technology and it won't remain forever without change or improvement.

Janation

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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 is a digital currency eventually will die without its value, without value, just mean it has no users and demand, which means it is dead. I think it will be not having a value anymore because the peolle will be having a problem with it, the transactions, the blockchain. But I think bitcoin will not die because there are so many people who trusts this digital currency.

South Park

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Quote from: Gufeng on March 18, 2017, 04:29:03 PM

Quote from: South Park on March 18, 2017, 04:23:05 PM

Quote from: BeGoods on March 18, 2017, 02:14:14 AM

Quote from: pinggoki on March 17, 2017, 09:03:42 PM

I think bitcoin will die if everyone store it and will not use. Second is if no one use bitcoin and if not accepted in online shop.

I think what you say will be impossible. impossible all users will store all bitcoin them simultaneously. and seems to have a lot of stores that start accepting bitcoin now Cheesy

Yeah that is impossible, in fact the current price of any commodity is the agreement the sellers and the buyers have reached about the price of something, when there are more sellers then the price goes down, and when there are more buyers the price goes up.

The graph of bitcoins will depend on the law of demand and supply as if demand gets higher then it will directly help in taking price higher as we know that the supply of bitcoin is limited and it will be limited even in future but there is no limit for demand so you can expect much high price in future.

In fact, there is a limit for demand but we have not touched it yet, there are several limits for demand, like the number of people on the planet, the number of business, or the number of fiat circulating in the world, so there is a limit for demand too.

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Quote from: raven7886 on March 19, 2017, 03:15:34 AM

Quote from: Kabul on March 17, 2017, 10:33:28 AM

Quote from: Salazarian on March 17, 2017, 09:35:55 AM

Quote from: angkasaz on March 15, 2017, 06:56:55 AM

if all goverment from around the world is banned btc , mostly impossible

yes i do not think that a single country is going to bane bitcoin because bitcoin is now so much popular that government is now compel to make bitcoin legalize.

You can not know whether a person is using Bitcoin or not because Satoshi developed the blockchain and the anonymity for it. Therefore, if the government ban Bitcoin, the people still know how to use it without being arrested

That is true, as long as bitcoin is not banned worldwide people will still use it without getting into trouble, however some jurisdictions like in Russia and Argentina severely restrict or ban foreign currencies, and in others like in Thailand limit the licensing of certain entities such as Bitcoin exchanges, which means even if you manage to use bitcoin in those countries and exchange it to fiat you will be breaking the law, and imagine if that was worldwide it will be a big hit to the knee for the bitcoin.

But it still wouldn't "die" in that case, as long as a single node exists to host the network it'll stay alive. It's like TPB, doesn't matter if it's banned

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Quote from: Kabul on March 17, 2017, 10:33:28 AM

Quote from: Salazarian on March 17, 2017, 09:35:55 AM

Quote from: angkasaz on March 15, 2017, 06:56:55 AM

if all goverment from around the world is banned btc , mostly impossible

yes i do not think that a single country is going to bane bitcoin because bitcoin is now so much popular that government is now compel to make bitcoin legalize.

You can not know whether a person is using Bitcoin or not because Satoshi developed the blockchain and the anonymity for it. Therefore, if the government ban Bitcoin, the people still know how to use it without being arrested

That is true, as long as bitcoin is not banned worldwide people will still use it without getting into trouble, however some jurisdictions like in Russia and Argentina severely restrict or ban foreign currencies, and in others like in Thailand limit the licensing of certain entities such as Bitcoin exchanges, which means even if you manage to use bitcoin in those countries and exchange it to fiat you will be breaking the law, and imagine if that was worldwide it will be a big hit to the knee for the bitcoin.

bncbnc

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Quote from: Gufeng on March 18, 2017, 04:29:03 PM

Quote from: South Park on March 18, 2017, 04:23:05 PM

Quote from: BeGoods on March 18, 2017, 02:14:14 AM

Quote from: pinggoki on March 17, 2017, 09:03:42 PM

I think bitcoin will die if everyone store it and will not use. Second is if no one use bitcoin and if not accepted in online shop.

I think what you say will be impossible. impossible all users will store all bitcoin them simultaneously. and seems to have a lot of stores that start accepting bitcoin now Cheesy

Yeah that is impossible, in fact the current price of any commodity is the agreement the sellers and the buyers have reached about the price of something, when there are more sellers then the price goes down, and when there are more buyers the price goes up.

The graph of bitcoins will depend on the law of demand and supply as if demand gets higher then it will directly help in taking price higher as we know that the supply of bitcoin is limited and it will be limited even in future but there is no limit for demand so you can expect much high price in future.

yes that is right to say that demand and supply is main reason of bitcoin price increase and decrease. if the demand is increasing then supply will decrease and therefore the price of bitcoin will also increase.

Gufeng

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Quote from: South Park on March 18, 2017, 04:23:05 PM

Quote from: BeGoods on March 18, 2017, 02:14:14 AM

Quote from: pinggoki on March 17, 2017, 09:03:42 PM

I think bitcoin will die if everyone store it and will not use. Second is if no one use bitcoin and if not accepted in online shop.

I think what you say will be impossible. impossible all users will store all bitcoin them simultaneously. and seems to have a lot of stores that start accepting bitcoin now Cheesy

Yeah that is impossible, in fact the current price of any commodity is the agreement the sellers and the buyers have reached about the price of something, when there are more sellers then the price goes down, and when there are more buyers the price goes up.

The graph of bitcoins will depend on the law of demand and supply as if demand gets higher then it will directly help in taking price higher as we know that the supply of bitcoin is limited and it will be limited even in future but there is no limit for demand so you can expect much high price in future.

Topic: In what situation would Bitcoin die? - page 99. (Read 101822 times)