Pages:
Author

Topic: Is there any way to destroy the bitcoin? - page 8. (Read 3086 times)

sr. member
Activity: 784
Merit: 251
December 27, 2017, 06:58:45 PM
Since Bitcoin is an online currency, if the governments decide the stop the internet, they can easily wipe off Bitcoin.
no, nothing can stop the internet, the internet is now a basic necessity of all countries, without internet the whole world will be a lagging country. see if there are countries that do not use the internet?
full member
Activity: 504
Merit: 100
December 27, 2017, 06:48:17 PM
In order to destroy bitcoins, you have to destroy the system on which bitcoins live on: the blockchain technology. However, the thing with blockchain technology is that this requires a lot of computers to be fully functional and unstoppable. You have to virtually bring down millions of millions of computers within the blockchain to demolish bitcoins.
member
Activity: 112
Merit: 11
December 27, 2017, 06:16:15 PM
Since Bitcoin is an online currency, if the governments decide the stop the internet, they can easily wipe off Bitcoin.
full member
Activity: 322
Merit: 105
December 27, 2017, 05:48:42 PM
Is there any way to destroy the bitcoin?  Not to hack or fake it but completely destroy the system.

I think that the only thing that could destroy bitcoin is when internet connection will be destroyed. If this happens, bitcoin will not be accessible and it can't be used. However, I really think that this is impossible to happen. Bitcoin will continue to surge because bitcoin is now becoming more famous because of it's convenience and profitability.

Yes you have a point. There's a possibility to destroy bitcoins by hackers because of internet but im pretty sure that destroying it will take so many years because the blockchain security is very tight. Maybe the fastest and easiest way to put bitcoin to end is when internet will no longer exist.
full member
Activity: 420
Merit: 100
December 27, 2017, 03:01:56 PM
If there is a way, the thing that comes from my mind that would destroy the bitcoin in their journey is when they lose their main life blood or the reason why they are still exist which is the investors/customers.
Once they lose this they have no reason to survive in this industry.
hero member
Activity: 1344
Merit: 502
December 27, 2017, 01:53:20 PM
Is there any way to destroy the bitcoin?  Not to hack or fake it but completely destroy the system.
I think the only way to destroy bitcoin is by stopping the process of mining this
virtual currency. which I would say its impossible for this to happen not by a long shot.
Allot of huge company are now offering cloud mining service for bitcoin and other crypto currency.
full member
Activity: 560
Merit: 107
December 27, 2017, 01:41:55 PM
For me, yes there a way to destroy bitcoin. Like killing the internet, bitcoin reach its limitation and become globally ban. That is some reason to terminate bitcoin if you have the control over the whole internet and shot it down you can’t use bitcoin. But that is an impossible reason, but reaching bitcoin limitation is possible, you can read some article that saying bitcoin has a limit of 21 million. Also, the last is globally ban, if bitcoin is prohibited in all country how will use bitcoin? And if no one will use bitcoin I’m sure that it will vanish. Smiley
member
Activity: 119
Merit: 10
Glab Trotter
December 27, 2017, 01:07:58 PM
the system itself is indestructible, the blockchain, against the bitcoin can return to ridiculous sums as in 2013 it's different
newbie
Activity: 4
Merit: 0
December 27, 2017, 01:04:42 PM
I don't think so. Only war can stop or destroy bitcoin. BTC is dependent by internet. If theres a war, the connection would probably stop.
member
Activity: 191
Merit: 10
December 27, 2017, 01:00:00 PM
Of course there is. The people themselves can do this. Developers do not find a common language with the miners, the users hold the coins and don't want to run them in turn. All this destroys the bitcoin and significantly limits its capabilities. Legalize and attempt to regulate bitcoin can also destroy everything.
Yess there is! once you shut down all the internet connection all over the world, then bitcoin is nothing as bitcoin cant do alone without the internet! second, if all the country will merge and done with one decision that bitcoin will be banned all over the world.
Grin Grin don't you think that closing Internet all over the world will be a big foolish work? No it will be the biggest foolish work. But on the other hand I appreciate your 2nd thoughts because it can be imposed if all the country wants to do it.
member
Activity: 131
Merit: 10
December 27, 2017, 12:59:33 PM
Yes there is " The Government", if the government prohibit bitcoin to transact on that particular country then this will be a disaster to everyone. They might close all the website connected to any bitcoin activities to jeopardize the operation of bitcoin.
full member
Activity: 532
Merit: 100
Dream of the Great
December 27, 2017, 12:56:04 PM
I think it's hardly possible, but maybe people themselves can destroy bitcoin, they will simply stop appreciating it.
Ucy
sr. member
Activity: 2674
Merit: 403
Compare rates on different exchanges & swap.
December 27, 2017, 12:50:57 PM
Interesting how members are passionately providing op with the Nuke secret code to blow up Bitcoin.

Wonder what your responses would be if op had asked how he/she can completely destroy your countries.

Good job!
member
Activity: 191
Merit: 10
December 27, 2017, 12:40:20 PM
From my knowledge, It's the rule of nature that the thing will take birth in earth one day it will destroy. So according to the rule bitcoin can be destroyed.If any other crypto coin can be invented which is more valuable than bitcoin may be after that slowly slowly the bitcoin will be destroyed. But it's unbelievable  Grin ;
legendary
Activity: 1137
Merit: 1000
December 27, 2017, 12:31:35 PM
Of course there is. The people themselves can do this. Developers do not find a common language with the miners, the users hold the coins and don't want to run them in turn. All this destroys the bitcoin and significantly limits its capabilities. Legalize and attempt to regulate bitcoin can also destroy everything.
Yess there is! once you shut down all the internet connection all over the world, then bitcoin is nothing as bitcoin cant do alone without the internet! second, if all the country will merge and done with one decision that bitcoin will be banned all over the world.
newbie
Activity: 1
Merit: 0
December 27, 2017, 12:26:08 PM
I hoop so
sr. member
Activity: 910
Merit: 260
December 27, 2017, 12:21:51 PM
Bitcoin is future  digital currency. So it good opportunity for the improve the future life. So no one can bitcoin destroy. It help to for the people future. It will connect the all country people. people share the share the bitcoin information for the business process and investment for the future improvement. Bitcoin is give more information for the future gather some information and giver more opportunist for the life improve and change the life style.
jr. member
Activity: 51
Merit: 10
December 27, 2017, 12:10:32 PM
Satoshi should be able to answer that question. Although no one knows him.
jr. member
Activity: 251
Merit: 2
December 27, 2017, 12:06:39 PM
Is there any way to destroy the bitcoin?  Not to hack or fake it but completely destroy the system.

I think there is a big possibility that Bitcoin can destroy. The knowledge of people is continuous and increasing as time goes by, therefore they might be interested about it and worse they wanted to selfishly operate it. However, as advancement is continuous too, there is also a big possibility that Bitcoin can upgrtade and avoid this kind of bad doings. 
member
Activity: 349
Merit: 10
December 27, 2017, 12:04:21 PM
Is there any way to destroy the bitcoin?  Not to hack or fake it but completely destroy the system.
There is no such thing  forever, I think the destruction of Bitcoin is a difficult one, it can be destroyed or disappear, but the time it takes to disappear is long and let the time decide ,.
Pages:
Jump to: