Topic: Possible reasons that Bitcoin will be gone (Read 1714 times)

I can't see this happening, honestly. But, if ever it happens, that might also be the end of technology or majority of the businesses, killing the economy at the same time.

As mentioned a concerted effort by many of the major governments could drastically crash the price.  I don't think this is likely to happen all at the same time though so in theory one would have time to exit with at least something.  The next year or two is going to be key in terms of to what degree various governments will regulate or even ban crypto.

At the very least places like the USA are going to have a microscope up the rear of every coin holder.  They won't be able to track the anon currencies but any holders will have a tough time exchanging them and the penalties for non-disclosure will keep the normies in line.  A smart investor will need to keep his finger up to see which way the wind is blowing. 

Recognition of BTC as illegal. Companies thanks to which we have such a high price are certainly withdrawn. it's enough for the price to drop to $ 100. Unfortunately, this is a real problem.

I think the "significantly" better is something that is out of the comprehension of most of us on the present, like Bitcoin concept was out of comprehension of many of us some years ago. Personally, I didn't imagine a currency like Bitcoin working fine without centralized power behind it.

These dedicated currencies are interesting for some activities inside the Crypto-Currency virtual universe, but not enough to rouse a movement around them, not enough to make the community engage to bump them and support them, even because they don't offer any special feature that Bitcoin can't do.


I doubt about it too, but possible anyway...


Most people are just sheeps, if a government put some fear on them they will retreat and continue their poor lifes dealing with fiat and supporting the chaos their countries are. Few would try to continue using Bitcoins and they would suffer the consequences without solidarity from their countrymen.


I'm a layman to talk about bugs and hackers skills, but I keep my mind open about it. Technology never stops evolving, maybe a bug can be created.

Like an Antivirus, today you can have the most efficient one, no virus can breach it, but if you don't keep updating your Antivirus in some months or years a virus will breach it, because it was evolved and your defense not.

I think this have been discuss so many times.If no one invest in bitcoin and trade with it than the burial ceremony began.

One of the reasons why people will stop using bitcoins is the transaction fees thats being charged at the moment, its really not surprising why people are moving to bitcoin cash rather because the fees there are very reasonable and it confirms even faster than bitcoins.

the possibility of missing bitcoin will occur when bitcoin fails its function and its security is very easy to break through, but this is not likely to happen.

If we're talking of a possibility here then all I can say is, Bitcoin can be possibly gone if all people are doing business with bitcoin stops doing so. We are like it's support, without that support BTC will just float away like a random unrecognized bubble.

"Significant" is a subjective word plus this would totally depend on what you're trying to look for. For example, there's a coin that's dedicated for the casino that has zero house edge and it's called Edgeless (EDG) coin. If you're all about gambling and you're looking for that zero house edge casino, then this coin is significantly better than bitcoin FOR YOU. But it might not be the case for most people.


I honestly doubt that this will happen unless something else have already happened to bitcoin and it already lose reputation and investors. Just recently we had a loss of 6K$ in the price of bitcoin. Normally people would panic sell and "jump out of the sinking ship" but that's not what happened. What happened was more people actually joined in and that's proven by the chart that the price picked up right away after the major dump. It's a good day for buyers.


The only thing that I can think of that the government can do that can actually affect bitcoin is to have some new taxation scheme that's targeted to take down bitcoins and make it really expensive to convert your bitcoins into cash. Banning it will just make people find out about bitcoin. It's totally pointless since it's on the Internet and people have freedom here. (I don't know what would be the case once Net Neutrality is gone.)


If (bug == exist) then
    hackers_balance += everyone_else's_balance
End if

If there was a a bug, the hackers should have taken advantage of it already. There's no bug, hon.

for me i think bitcoin will have price down but never gone

I don't know why, but your comment have most logic then any other. If people would stop to use bitcoins that would lead to crash, but why would people stop using bitcoins? Well probably answer on that is simple, people would stop use it if there is something better then bitcoins, there isn't so people will use bitcoin for a long time. Bitcoins are better then traditional fiat currencies, we waited for a long time for alternative and we finally have it, no one will stop using bitcoins.

It would be possible if there would be no people to use it anymore and there is no internet then bitcoin will go down and will definitely become worthless. I think this would not happen they are only saying that bitcoin will disappear because bitcoin has been grow and become popular so with the use of their opinions the number of people would no longer use it.

If a new technology appears and that is significantly better than the currently one Bitcoin can lose price.
If Bitcoin is dumped to a really low value it can lose reputation and potential investors can withdraw their money.
If governments ban it or put strict regulations many people will stop investing, decreasing demand, decreasing Bitcoin price.
If a bug is found, making possible for hackers to steal money easily from holders.

there is no valied reason to stop the bitcoin except the central government because the transaction done in the bitcoin cannot be tracked by the central govt so the revenue generation will come down

probably the first because bitcoin is a virtual currency and is illegal, besides that bitcoin can be used as a crime and crime because bitcoin uses a blockchain system, so the government will not let bitcoin easily develop. the government would also try to stop bitcoin because bitcoin could rival a government bank.
 

I think it will only be happened when the total supply amount of Bitcoin run out in the future and the price of Bitcoin is too high, about millions dollars, so nobody will use Bitcoin to trade anymore and it'll lead to Bitcoin price dump to zero very quickly ). Beside Bitcoin will be only used by crime to commit guilty so all government all over the world will ban Bitcoin in their country

if other coin surpass bitcoin with better quality. well bitcoin is the most popular so it is not yet possible to be surpass by other coin. when all miners stop mining and no transaction will be process or it will take days to process.

as of now, i cant think of any valid reason that bitcoin will be gone. although bitcon can be banned or loose its value due to some factors like for example if  a bitcoin was banned on some country because their government thinks that bitcoin is the root of all evil and greed then it can greatly affect to the market of bitcoin because the demand will be lesser and as a result bitcoin can loose its value but bitcoin cant be gone as long as there were still some country and people who are using it. however there were some news that says bitcoin is a bubble and it will pop soon but it is not yet proven or guaranteed that itll happen.

I think that the possible reasons for bitcoin to be gone is if it gets hacked big time wherein a lot of people would think that nothing can keep them safe. A banning from a lot of major countires would surely shake the entire market and lastly unavailability of internet

It is now quite difficult to use mechanisms that would lead to the disappearance of bitcoins, its complete prohibition or to those that would lead to a lack of demand on it.
   Bitcoin can disappear only if the Internet disappears, that is, there will be no access to it in its virtual world.
    A global ban by all or most countries also can not be, since the largest and most developed countries such as the United States, Japan, Canada, united Europe and others have already recognized the Crypto-currency. There should be some significant negative developments regarding the crypto currency so that the world countries review their previous decisions and I hope that this will not happen.
    The drop in demand for bitcoins and other crypto currency is unlikely to lead to its disappearance. Such a fall should be absolutely universal, on the verge of a boycott. While this is also unrealistic.