What if crypto vanishes? - page 8. | Bitcointalksearch.org

Hallmader

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Quote from: meliodas on December 29, 2019, 02:14:31 AM

Quote from: Hallmader on December 28, 2019, 11:33:52 PM

Quote from: moviebuff777 on December 28, 2019, 10:42:31 PM

The only way this could happen is if there were several major countries that banned cryptocurrency. It is possible but very unlikely. I think Bitcoin has been in existence for too long for it to be banned at this point.

It cannot even be enough to cause Bitcoin to vanish. Bitcoin has been banned by some major countries in the past but still it continued to grow strong. It gained a very bad image in the past especially during the discovery of the silk road but still it recovered and even earned the trust and huge investments of rich and ordinary people alike. Bitcoin does not depend on the approval of any country. Bitcoin is an online and world currency.

The reality is, even the major countries ban bitcoin, it will still be hard for them to make sure that their countrymen are not using it because bitcoin is hard to trace and people can easily use VPN to provide fake IP addresses for the government to trace. Bitcoin and the cryptocurrencies are so powerful and because of the decentralization, it is true that there is nothing that can stop them.

In other words, Bitcoin cannot actually be banned. In words of countries' laws and regulations, they may ban Bitcoin but how could they stop people from using it? A ban on the letters will only be up to that. As far as monitoring people to make sure Bitcoin is not used is next to impossible. The capacity of the online universe to cater to people's preference of Bitcoin over fiat is very vast.

Questat

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That's impossible, crypto might suffer and dump its price but the technology will remain.

You need to understand that it's decentralized, meaning even the government can't control it, and even if it will be deemed illegal, there are still people who will keep using it. Write that on the stone because that's the reality: Grin

coin-investor

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Quote from: Wysi on December 21, 2019, 02:20:10 PM

What will happen if crypto vanishes overnight or due to some or the other reason if crypto becomes inaccessible to public? I know this does not make sense as crypto will not vanish but still what if it happens? What about those huge chunk of investments made by whales and other investors?

The only thing that will not make it accessible is because of the internet connection, and if there is an interruption on the chain, but so far none of this is happening after ten years, but if in the future something like this happens, there are still new technology coming to replace Cryptocurrency but it will just work like Cryptocurrency Cryptocurrency will always become a part of our lives, just like the internet

ecnalubma

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Quote from: Wysi on December 21, 2019, 02:20:10 PM

What will happen if crypto vanishes overnight or due to some or the other reason if crypto becomes inaccessible to public? I know this does not make sense as crypto will not vanish but still what if it happens? What about those huge chunk of investments made by whales and other investors?

If that happens the effect could be catastrophic, not only on economic but could also affect emotionally to investors. We could experience a suffering like the 2009 market crash but on a global scale, although there’s a slim chance that it could happen but I think when the internet vanish a day is more scary than anything else.

dimox

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many people will lose their fund, wonder, why this is happen, why right now. holder will not believe and maybe they are just feel bad because not selling that coin in the day before.
im not sure if crypto will vanish in just a second. something will give us announce when they wont gone from this world, so we can take the second step to avoid bad circumstance

rdluffy

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Almost impossible to happen, because we have more than average guys like us investing on cryptos, we now have companies, big companies, startups, investment funds, regulations etc
Now the market of cryptos reached a higher scope

posoa

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Quote from: minersday on December 29, 2019, 02:36:20 PM

I don't see how this whole technology is ever going to go down the drain just like that. This will never happen as the true impact of the blockchain technology can never be felt without the use of cryptocurrency. Decreasing transaction cost and having a transparent financial system will not happen and we will go back to the old corrupt ways where government officials abscond with huge sums of money.

I don't think it will ever happen, looking at the emergency of the Crypo currency, which was masterly designed through the blockchain Technology. Even for one reason or the other , the internet which was also been considered ,have been critically check before launching the Crypt currency ,havinh been seen as a method that will never fail.

minersday

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I don't see how this whole technology is ever going to go down the drain just like that. This will never happen as the true impact of the blockchain technology can never be felt without the use of cryptocurrency. Decreasing transaction cost and having a transparent financial system will not happen and we will go back to the old corrupt ways where government officials abscond with huge sums of money.

CarnagexD

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Quote from: heidikim on December 28, 2019, 07:42:43 PM

Cryptocurrency is a dream. Bitcoin made people living in their homes rich. Now these people need to use the money they earn for the expansion of this ecosystem. This market will not disappear. It will be a natural transformation. Robust projects will survive.

It is still not impossible for bitcoin not to be replaced by any worth altcoin in the market however the bitcoin dominance now is still very huge incomparable with the certain dominance in the market right now. Bitcoin will be the biggest star of crypto that os absolute thing, I don't think any cryptocurrency will ever be ahead of bitcoin.

Blackdeath

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Quote from: Wysi on December 21, 2019, 02:20:10 PM

What will happen if crypto vanishes overnight or due to some or the other reason if crypto becomes inaccessible to public? I know this does not make sense as crypto will not vanish but still what if it happens? What about those huge chunk of investments made by whales and other investors?

I think most of us would really be mad and have regrets if crypto suddenly vanishes overnight, especially if most of our money our in cryptocurrency because we put a lot of time, effort, and energy just to gain all of those money. But in my opinion about it is it could be impossible for now even we are facing a bear market today because a lot of people are still holding crypto especially for bitcoin, so it would take long for bitcoin to be gone.

makolz26

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Quote from: bobitza on December 29, 2019, 10:06:19 AM

It would be bad if the cryptocurrency suddenly disappeared. Bitcoin can be lost or lost for various reasons such as destruction, hardware failure, etc. Do you think when you are holding a lot of Bitcoin but after one night you completely lose .
We should protect our bitcoins by:
- Make sure your Bitcoin wallet is always backed up and encrypted.
_ Avoid keeping Bitcoin on smartphones but transfer them to hardware wallets.
_ Using a password manager can easily create and store your passwords on multiple devices safely.

Which we know is impossible as we know that crypto just started although Bitcoin has been existing for more a decade still it doesn't mean that it should be widely adopted as it is process, there's no magic especially that crypto will change the payment solution, the financial system in the world. So it is really impossible for now, so we should not worry at all.

bobitza

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It would be bad if the cryptocurrency suddenly disappeared. Bitcoin can be lost or lost for various reasons such as destruction, hardware failure, etc. Do you think when you are holding a lot of Bitcoin but after one night you completely lose .
We should protect our bitcoins by:
- Make sure your Bitcoin wallet is always backed up and encrypted.
_ Avoid keeping Bitcoin on smartphones but transfer them to hardware wallets.
_ Using a password manager can easily create and store your passwords on multiple devices safely.

Murat

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It's not a funny thing that it will vanish within a night, day by day it's going to be a strong platform whole around the world but it's true this present situation is not favored at all due to numerous scam projects in recent time, but it's just matter of time to get recovered because the future world will get dependent on this system, already Blockchain system is getting accepted around the world legally so the time will not far away to grab the financial market. so cryptocurrency will not vanish ever.

meliodas

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Quote from: Hallmader on December 28, 2019, 11:33:52 PM

Quote from: moviebuff777 on December 28, 2019, 10:42:31 PM

The only way this could happen is if there were several major countries that banned cryptocurrency. It is possible but very unlikely. I think Bitcoin has been in existence for too long for it to be banned at this point.

It cannot even be enough to cause Bitcoin to vanish. Bitcoin has been banned by some major countries in the past but still it continued to grow strong. It gained a very bad image in the past especially during the discovery of the silk road but still it recovered and even earned the trust and huge investments of rich and ordinary people alike. Bitcoin does not depend on the approval of any country. Bitcoin is an online and world currency.

The reality is, even the major countries ban bitcoin, it will still be hard for them to make sure that their countrymen are not using it because bitcoin is hard to trace and people can easily use VPN to provide fake IP addresses for the government to trace. Bitcoin and the cryptocurrencies are so powerful and because of the decentralization, it is true that there is nothing that can stop them.

Hallmader

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Activity: 1123

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Quote from: moviebuff777 on December 28, 2019, 10:42:31 PM

The only way this could happen is if there were several major countries that banned cryptocurrency. It is possible but very unlikely. I think Bitcoin has been in existence for too long for it to be banned at this point.

It cannot even be enough to cause Bitcoin to vanish. Bitcoin has been banned by some major countries in the past but still it continued to grow strong. It gained a very bad image in the past especially during the discovery of the silk road but still it recovered and even earned the trust and huge investments of rich and ordinary people alike. Bitcoin does not depend on the approval of any country. Bitcoin is an online and world currency.

moviebuff777

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The only way this could happen is if there were several major countries that banned cryptocurrency. It is possible but very unlikely. I think Bitcoin has been in existence for too long for it to be banned at this point.

Twinkledoe

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Quote from: heidikim on December 28, 2019, 07:42:43 PM

Cryptocurrency is a dream. Bitcoin made people living in their homes rich. Now these people need to use the money they earn for the expansion of this ecosystem. This market will not disappear. It will be a natural transformation. Robust projects will survive.

I won't think about crypto to disappear. It will not happen anyway so why give yourself a headache for a situation that will not happen. Instead, think of how can you contribute in the adoption of crypto? I think that is better than thinking of something that is not beneficial to crypto as a whole. If you are here in the forum, it means, in some ways you are benefiting the existence of crypto.

heidikim

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Cryptocurrency is a dream. Bitcoin made people living in their homes rich. Now these people need to use the money they earn for the expansion of this ecosystem. This market will not disappear. It will be a natural transformation. Robust projects will survive.

bohr

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Quote from: MuffinMaster on December 25, 2019, 04:27:53 AM

If it vanishes then all investors will lose their money, simple is that.
A good example of this scenario is ICO scam exit. When they exit, all investors lose there money and rest are not affected.
How BitConnect pulled the biggest exit scheme in cryptocurrency

The difference is that what the OP is suggesting there will be no winners, if cryptocurrencies were to vanish then we will lose our money but there will be no scammer laughing at us for deceiving us, every single person will lose his money in the market and while the market of cryptocurrencies is small it will be interesting to see if some economic problems emerge from all of this, and in my case it will be a terrible loss since a significant portion of my money is invested in this market.

FlightyPouch

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Quote from: kodtycoon on December 27, 2019, 02:44:54 AM

what else can we do, where can we ask for responsibility or protection for this huge loss? i don't think so. but i believe if in the end the crypto disappears at least there will be big news everywhere so that everyone who has crypto can at least cash it immediately, who knows

Well, we don't know what might happen all we know is that it is still too far for crypto currencies to dissapear. A lot of them died since the market has only one rule in being alive, the survival of the fittest. Many investors support a lot of crypto currencies so I don't think it will just poof out of the existence that quickly.

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