Topic: What if Bitcoin Fails ? - page 2. (Read 1203 times)

I think that the only way that BTC will fail is that they remove the electricity supply service worldwide and the internet, because these services are needed to be able to execute transactions. I have seen similar threads when it comes to this topic, but when they say fail it can be interpreted in many ways, and a very common one is that they call failure when it makes a very strong downward movement, which translates into a big drop, something similar to what happened in 2018-2019 when the BTC was about to touch $2k, this can also be called a failure, and I think that if something like this happens, I would be fully willing to go up again and reach new ath.

So what? Everyone here talks about how bitcoin can't fail, or won't fail, and how "fail" could be understood and many other things. But the reality is that, all I care about is blockchain itself, if blockchain doesn't fail, then projects themselves could survive as big as bitcoin itself.

I don't care if we have ALL crypto fail right now, let alone just bitcoin and I would be fine. Why? Because, I know that blockchain itself is a big deal and that is why I have to say it doesn't matter how one might fail, because a thousand will come out, we will have another coin at the top, likely ETH, and then we will move on like nothing happened. Sure it will impact for a short while, but then we will go back to normal for sure.

What would be if the Universe never existed? Well there would be no such strange discourse as there would be none to lead it. But we know that the Universe do exist (anyhow, anyway).

Why should bitcoin fail? It is decentrlized enough and has big enough support to survive even if the situation will change for the worse. It will not fail and we know that right now. All other concepts are philosophical: what would be if.

8 )  If Bitcoin fails, Capitalism Fails
There is no CEO of Bitcoin. Bitcoin gained value organically, from the bottom up. The Network represents the spirit of capitalism harnessed in code. Self-interest combined with innovation & ingenuity. If you value capitalism, value Bitcoin.

But, eventually people will still move and will try to embrace what is left. As of today, we have tons of cryptos on this market and most of them are good cryptos that we can say close to the level of bitcoin. People can still earn a benefit with them.

It still started with the technology because why will people invest on it or why will they trust it if bitcoin is only an ordinary thing with no ground breaking technology behind it? If bitcoin fails then it fails but you might be right that it will cause a doubt at first if the rest of the cryptos left is strong or can be trusted because btc is already known to be the strongest among all but why it still collapse?

But, eventually people will still move and will try to embrace what is left. As of today, we have tons of cryptos on this market and most of them are good cryptos that we can say close to the level of bitcoin. People can still earn a benefit with them.

Technology is not the only part of success of bitcoin. Trust is much more important: people believe that bitcoin has value and technology just makes that belief working. If bitcoin would ever fail it would cause a problem with trust to entire crypto world, so no, it can't be so that any other cryptocurrency can replace bitcoin if it fails. Cryptocurrencies can grow and become substantive only if bitcoin would be still succeeding, at least for now and for years.

Imagine that bitcoin failed this morning and it doesn't work anymore, all exchanges are failed next it as they are based mainly on bitcoin, all altcoins are failed next all that as their rates are connected to bitcoin. No one trusts crypto anymore. Why should any other cryptocurrency come up in such a case? Bitcoin failure will kill all the crypto if, perish the thought, it would happen at an early date.

Well, if in case Bitcoin fails it going to affect alot of people, because a lot of people depends on Bitcoin because Bitcoin has being a encouraging endeavor for the world. And this may also be a big win to the government, and privacy will be lost forever. And I believe that if in case Bitcoin fails there is going to be another cryptocurrency will also come up too.

1/ If Bitcoin fails, Privacy Fails

The ability for individuals to send & receive value peer-to-peer without the interference of government & the banking system will be lost. Bitcoin allows for a future where anyone can have private access to their money.

2)  If Bitcoin fails, Censorship Wins

We are in an unprecedented age of censorship. Bitcoin is the most secure network that has ever been built. Resilient, antifragile, & permission-less. Open to anyone in the world. There is nothing else like it. Bitcoin can’t be censored.

3) If Bitcoin Fails, Big Government Wins

The government can lose hundreds of billions annually but want us to report every time we spend over $600. There is no government accountably or transparency in our system. Without Bitcoin we lose the only counterweight to that system.

4)  If Bitcoin fails, Central Banks Win

Unelected bureaucrats decide the value of your labor & time. Money is the way we store the value of our time on this earth.  No one should have the power to inflate the value of your time away from you. Bitcoin’s set 21MM supply fixes this.

5) If Bitcoin fails, Free Speech fails

Bitcoin is code. Letters & numbers. A private key is all you need to be able to store, transport & transact value with. Never in human history has speech & language been this powerful. The freedom to speak is the most basic of human rights.

6) If Bitcoin fails, Objective Truth is Lost

"What is truth?” has never been more convoluted. You can find experts on both sides with “internet facts” supporting them. Bitcoin is the only thing we have that is truly objective & transparent. The longest chain speaks for itself.

7) If Bitcoin fails, The Energy Transition Fails

If the hope is to transition to a new energy future, we need Bitcoin, the energy buyer of first & last resort. Bitcoin monetizes energy waste & incentivizes new & efficient energy resources. Energy & Bitcoin are nearly synonymous.

8 )  If Bitcoin fails, Capitalism Fails

There is no CEO of Bitcoin. Bitcoin gained value organically, from the bottom up. The Network represents the spirit of capitalism harnessed in code. Self-interest combined with innovation & ingenuity. If you value capitalism, value Bitcoin.

9 )  If Bitcoin fails, We Will Own Nothing

We don’t own anything of value. Property & money are regulated & stored with custodians. You don’t own it; you just have a claim. With Bitcoin, the value of your life’s work can be stored in a few words. Free to take with you anywhere.

10 ) Bitcoin is too important to fail

If you value freedom, transparency, and truth, then you should want Bitcoin to succeed
If you value oppression, censorship, and corruption, then you should want Bitcoin to fail

We can't let Bitcoin fail.


https://twitter.com/max_gagliardi/status/1485308690035056647?t=-vF-9ZE_FRxdIJD2u2rdng&s=19

If Bitcoin fails, another cryptocurrency will arise and will likely do so within a year. The technology behind Bitcoin will continue developing in that case and other cryptocurrencies will bring some exciting new technology to the table. If that new cryptocurrency fails, then another one will certainly come up. So the point is this: this is not the end for cryptocurrencies. Some cryptocurrency will become the dominant one and it will become the global currency.