Is there any way to destroy the bitcoin? - page 15.

gabmen

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Quote from: valentin68 on October 27, 2017, 06:27:14 AM

Yes there is a way to destroy the bitcoin, and this happened once but the bitcoin was not destroyed. If some of the bitcoin producer would have 51% of the bitcoin production this could be the end of the bitcoin. This happened at the beginning of bitcoin when some bitcoin producing company had 51% of the bitcoin production for one-two weeks. They could have destroyed the bitcoin network, but they did not.

Well that's far from happening again today and i think you would have to remove the internet to entirely destroy bitcoin. We're looking at a revolution here that can push the way we do transactions further than to how we deal today and bitcoin is at the forefront of it

valentin68

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Yes there is a way to destroy the bitcoin, and this happened once but the bitcoin was not destroyed. If some of the bitcoin producer would have 51% of the bitcoin production this could be the end of the bitcoin. This happened at the beginning of bitcoin when some bitcoin producing company had 51% of the bitcoin production for one-two weeks. They could have destroyed the bitcoin network, but they did not.

Freshmen

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Quote from: 4U on October 25, 2017, 10:02:41 PM

Quote from: sakkosekk on October 25, 2017, 12:36:38 AM

Quote from: Visbay on October 25, 2017, 12:07:55 AM

Quote from: Vatimins on October 23, 2017, 10:39:24 PM

Quote from: MadScienceSocks on October 23, 2017, 10:38:14 AM

Is there any way to destroy the bitcoin? Not to hack or fake it but completely destroy the system.

Yes. Although destroying Bitcoins isn't logical and quite stupid for someone who is in the crypto world to do, there are really many ways to do so. One is bombing the root of the block-chain literally. Lol.
Another is when goverments decide to prohibit the usage of bitcoins and other cryoto currencies present.
Legalization of bitcoins can also break it. Because with legalization comes with regulation. And if bitcoins and other crypto currencies get regulated, then it means others will lose interest. A lot. Because decentralization isthe most important asset of bitcoin. And without it., Bitcoin will lose morethan half of its supporters including me.

Well as for as relation of government is concerned to I don’t think so any government can do this because bitcoin is going to play a big role in the economy of any country if they regulate bitcoin so it can also help them and it can be good for bitcoin as well what I believe that internet can be only reason who can destroyed bitcoin the rest of there is no chance of it to destroyed.

In the future I think governments will set up a separate department for cryt curency because it has a great influence on the financial status of a country as well as the world.

Well I agree with you there are a lot of ways to destroy bitcoin but as you said when a government stop use of bitcoin but here I have also a question that why any government can do so bitcoin is acutely going to play a big role in economy of any country and bitcoin have also reduce unemployment in many countries so I don’t think so any government can take action against bitcoin.

Yes there are so many ways for the destruction of bit coin for example all investors stops their investment in it there will be no life of bit coin as the life of bit coin is dependent on socio economic condition and thing is world war is also very dangerous for the survival of bit coin

mammoniter

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Quote from: MadScienceSocks on October 23, 2017, 10:38:14 AM

Is there any way to destroy the bitcoin? Not to hack or fake it but completely destroy the system.

Every system has its flaws all that you have to do is to exploit it to completely destroy it or its credibility. In bitcoins case is its security and the block chain, if by any chance someone would be able to ( which is more likely almost impossible maybe for computers today. ) to hack wallets through brute force then bitcoin will lose investors and users that will result to the downfall of its market value then maybe it will completely destroy bitcoin which I hope will not happen.

Givebirth

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Quote from: MadScienceSocks on October 23, 2017, 10:38:14 AM

Is there any way to destroy the bitcoin? Not to hack or fake it but completely destroy the system.

If internet in the world shutdown their service then also bitcoin will be destroyed. but this thing is impossible. If there is a god hacker that can cracked private keys of wallets I think bitcoin will downfall to the stage that it will lose the value and will completely destroy the cryto world.

4U

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Quote from: sakkosekk on October 25, 2017, 12:36:38 AM

Quote from: Visbay on October 25, 2017, 12:07:55 AM

Quote from: Vatimins on October 23, 2017, 10:39:24 PM

Quote from: MadScienceSocks on October 23, 2017, 10:38:14 AM

Is there any way to destroy the bitcoin? Not to hack or fake it but completely destroy the system.

Yes. Although destroying Bitcoins isn't logical and quite stupid for someone who is in the crypto world to do, there are really many ways to do so. One is bombing the root of the block-chain literally. Lol.
Another is when goverments decide to prohibit the usage of bitcoins and other cryoto currencies present.
Legalization of bitcoins can also break it. Because with legalization comes with regulation. And if bitcoins and other crypto currencies get regulated, then it means others will lose interest. A lot. Because decentralization isthe most important asset of bitcoin. And without it., Bitcoin will lose morethan half of its supporters including me.

Well as for as relation of government is concerned to I don’t think so any government can do this because bitcoin is going to play a big role in the economy of any country if they regulate bitcoin so it can also help them and it can be good for bitcoin as well what I believe that internet can be only reason who can destroyed bitcoin the rest of there is no chance of it to destroyed.

In the future I think governments will set up a separate department for cryt curency because it has a great influence on the financial status of a country as well as the world.

Well I agree with you there are a lot of ways to destroy bitcoin but as you said when a government stop use of bitcoin but here I have also a question that why any government can do so bitcoin is acutely going to play a big role in economy of any country and bitcoin have also reduce unemployment in many countries so I don’t think so any government can take action against bitcoin.

benzen

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Yes, by collapsing the mining infrastructure or sharding the project into many forks, which all do a different thing and the original BTC becomes an ambiguous blob of projects, where the original project is indistinguishable or perhaps even has a different name. Also right now the entire ecosystem is relying on banks and centralized exchanges to get new money.

Ronaldcoin2017

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Quote from: a4techer on October 25, 2017, 05:40:59 PM

Quote from: MadScienceSocks on October 23, 2017, 10:38:14 AM

Is there any way to destroy the bitcoin? Not to hack or fake it but completely destroy the system.

Yes there is one who can destroy bitcoin because right now in our generation there so many developers or programmers that can manipulate website and also some bitcoin someday destroy or surpass many banks so what they are doing? They can also destroy bitcoin. There are many ways to destroy bitcoin.

yes i also agree because if there is a way to deatroy btc maybe it will already destroy on the past years but as we all have seened bitcoin is always there and still rising at this point of time maybe everyone will really believe in the profit that btc has that is why it is getting popular each day i believe that there is no way to destroy btc.and it is really proven today because it is still alive.

a4techer

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Quote from: MadScienceSocks on October 23, 2017, 10:38:14 AM

Is there any way to destroy the bitcoin? Not to hack or fake it but completely destroy the system.

Yes there is one who can destroy bitcoin because right now in our generation there so many developers or programmers that can manipulate website and also some bitcoin someday destroy or surpass many banks so what they are doing? They can also destroy bitcoin. There are many ways to destroy bitcoin.

bitbob82

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Quote from: Mr on October 25, 2017, 04:32:03 PM

Yes, I think there is the way to destroy bitcoin. But right now, it is impossible to do that. People are the one who create bitcoin and they are capable of destroying it. Time will tell us what will happen to bitcoin. Maybe in the future, we will have a most intelligent hacker who can destroy bitcoin just only with one button

Although different ways are always there to destroy bitcoin, but i think bitcoin is really the strongest currency and therefore we can expect that it will cancel all such attempts. In fact bitcoin is in it early state and we are expecting that bitcoin will continue improving and will continue to become more and more popular for a long time, because currently all the people are giving more preference to bitcoin.

McKane

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IF PROBLEM WITH MY TRUST THEN BRING AN ESCROW.

Quote from: srsandokan on October 25, 2017, 04:16:46 PM

still, probably if the internet is turned off there a lot of other things that could not work neither, banks, regular bussiness, etc

Who said that internet will go off now a days world rely upon internet so it is unimaginable that web will go to off. Since Now a days world is relied upon web which is very genuine we should quit thinking like that internet will go off. Since it will be upgrade much more step by step.

Shreek

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which I know that this bitcoin system is decentralized or not centered on one country, so if it breaks its system it will be difficult and even small it can happen. but bitcoin has block chain.
there are several ways that bitcoin can be destroyed, with bank actions spreading bitcoin deficiency, and this will make the value in the market collapse so people will panic, and also with government action to remove the public trust to bitcoin. so the public will be anti against bitcoin.

Mr

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Yes, I think there is the way to destroy bitcoin. But right now, it is impossible to do that. People are the one who create bitcoin and they are capable of destroying it. Time will tell us what will happen to bitcoin. Maybe in the future, we will have a most intelligent hacker who can destroy bitcoin just only with one button

beatleap

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Bitcoin isn't able to be destroyed by anyone. Governments will ban it thats just natural but they won't destroy it.

srsandokan

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still, probably if the internet is turned off there a lot of other things that could not work neither, banks, regular bussiness, etc

fredo123

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Of course yes. People are the roots to sprout bitcoins, Then people is the key to destroy it. I believe in the saying that "If there's a will, There's a way" But what'su the reason why we should destroy it? Is bitcoins gives threat to your life'? Hopefully we could find your inputs of asking that question:)

Odora

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Quote from: MadScienceSocks on October 23, 2017, 10:38:14 AM

Is there any way to destroy the bitcoin? Not to hack or fake it but completely destroy the system.

there is one way that will definitely turn off the entire system Bitcoin, that is by turning off the Internet,
although not possible but only by turning off the Internet all our transactions will be disconnected and Bitcoin movements will be lost .. Cheesy

kimochidesh

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Yes it could happen....If users shifted to some other cryptocurrency which got far better features than BTC.
Or By hacking blockchain but it seems to difficult because the Blockchain hacking at present time is next to impossible.
Or problems in payment occur like replay etc. In such case people stop using it.
And last but not least, all govt. and countries banned the BTC usage and implement strictly on this decision then it.

Javathon

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Yes, the bitcoin creators must have known also how to end bitcoin. There are also possible circumstances that may happen that can destroy bitcoin like the use of bitcoin being banned worldwide but the possibility that it would happen is very small and near to impossible.

Cindy1983

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Quote from: andiko on October 25, 2017, 01:51:59 PM

I think bitcoin can not be destroyed, no matter how hard one tries. It can be destroyed only if the Internet disappears.

Have you ever think that what will happen to Bitcoin if the internet down? Of course Bitcoin will become useless that mean Bitcoin destroyed

). The internet is the most important thing everyone need to use Bitcoin but if it's really difficult to make it down except the next world war explore

. Beside if Bitcoin banned worldwide I think it's the same when the internet down, Bitcoin will be destroyed. Cheesy

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