Bitcoin will crash or cease to operate if every miner stops the mining process. Thats the only way I think can stop bitcoin. But since its decentralized there is no way we can do that. In centralized things its possible to stop or manipulate since you have complete control over the process.
And to add for this, when all the supports coming from miners, investors, traders and users will no longer be inherent. It could be an odds to see like that but that is the only way I could think that it stops crypto. But, are we letting this thing to happen? Definitely, not, in fact, we even supportive to the market even we struggles so much difficulties cause we believe that this could help us to our life and our future. 
Topic: What set of conditions can crash blockchain or bitcoin to zero USD? (Read 541 times)
January 29, 2020, 09:32:44 AM
January 29, 2020, 07:26:09 AM
Bitcoin will crash or cease to operate if every miner stops the mining process. Thats the only way I think can stop bitcoin. But since its decentralized there is no way we can do that. In centralized things its possible to stop or manipulate since you have complete control over the process.
January 29, 2020, 06:51:44 AM
Even coins that have no intrinsic value have value solely for existing on the market of a small exchange.
I would say that BTC will always carry some sort of value to someone, whether it's investors, people who need to transfer money overseas, so on and so forth. The demand for BTC is not only as a speculative token, it has a range of practical uses that I simply cannot see going away any time soon.
As long as BTC has a hard limit and continues to have some sort of demand, there will be value. For it to truly go to zero, the hard cap has to be broken, which is extremely unlikely given that the community simply won't allow it to occur.
I would say that BTC will always carry some sort of value to someone, whether it's investors, people who need to transfer money overseas, so on and so forth. The demand for BTC is not only as a speculative token, it has a range of practical uses that I simply cannot see going away any time soon.
As long as BTC has a hard limit and continues to have some sort of demand, there will be value. For it to truly go to zero, the hard cap has to be broken, which is extremely unlikely given that the community simply won't allow it to occur.
January 29, 2020, 06:21:35 AM
I have read some good points but I have my own.
Lack of support will the first one.
Examples are the alternative coins. They became just because they are forgotten or nothing is buying it anymore.
Some may say it is the shut down of internet but that won't happen. That just means there is a world war going on if internet cannot be provided anymore.
Electricity have so many alternatives by now so take that out.
Yeah, that summarize it. Lack of support.
Lack of support will the first one.
Examples are the alternative coins. They became just because they are forgotten or nothing is buying it anymore.
Some may say it is the shut down of internet but that won't happen. That just means there is a world war going on if internet cannot be provided anymore.
Electricity have so many alternatives by now so take that out.
Yeah, that summarize it. Lack of support.
January 29, 2020, 04:19:06 AM
Basically Bitcoin can't run without the internet. If for some reason the Internet service is shut down all over the world, then Bitcoin will become Zero. Because all the activities of Bitcoin depends on the Internet. From transactions to trading, everything is done through the Internet. I see nothing but the Internet which can reduce the price of bitcoin to zero.
and possibly the entire economy.
January 27, 2020, 02:46:48 PM
Basically Bitcoin can't run without the internet. If for some reason the Internet service is shut down all over the world, then Bitcoin will become Zero. Because all the activities of Bitcoin depends on the Internet. From transactions to trading, everything is done through the Internet. I see nothing but the Internet which can reduce the price of bitcoin to zero.
January 27, 2020, 02:05:57 PM
Probably when there is a world war and money is not anymore valuable, people will be back in the old age of just prioritizing its food just to survive.
Bitcoin is money, we don't need that as a world that is on war cannot appreciate technology anymore, no more phones, computers needed at that time, and since bitcoin and crypto basically is only accessible through the internet, then no access means we can't use it so it would be useless.
this is just a worst scenario but let's not hope it would happen.
I think it won't at the moment. LolBitcoin is money, we don't need that as a world that is on war cannot appreciate technology anymore, no more phones, computers needed at that time, and since bitcoin and crypto basically is only accessible through the internet, then no access means we can't use it so it would be useless.
this is just a worst scenario but let's not hope it would happen.
Just imagine how Trump almost start a World War 3? But that's not going to happen since most leader of the countries wouldn't want to join on the craziness of Trump because they know how bad it is to have a world war just like what they have learned from the past. The only thing that would stop Bitcoin is having no access to the internet and the price of Bitcoin would collapse too fast just like a domino down to zero value.
January 27, 2020, 11:47:33 AM
1. War
One doesn't simply recover from a massive destruction, whether by financial, stock or cryptocurrency all will suffer. Rebuilding what has been lost can be a painstaking task. Cooperation and trust are needed very much for any restructure but after a massive war it can be a very serious matter.
2. Network Failure
If the main internet grid has been destroyed or any existing channels of internet has been replace by another technology it can disrupt the current market by shutting down P2P. No connection, No P2P.
3. Global Ban
The current cryptocurrency market possess no potential threat on any fiat currencies but certain countries do ban any transaction in junction with crypto. If there would be a global ban regarding crypto markets and penalize those who engage such endeavors then most likely it will render the market into a crash.
One doesn't simply recover from a massive destruction, whether by financial, stock or cryptocurrency all will suffer. Rebuilding what has been lost can be a painstaking task. Cooperation and trust are needed very much for any restructure but after a massive war it can be a very serious matter.
2. Network Failure
If the main internet grid has been destroyed or any existing channels of internet has been replace by another technology it can disrupt the current market by shutting down P2P. No connection, No P2P.
3. Global Ban
The current cryptocurrency market possess no potential threat on any fiat currencies but certain countries do ban any transaction in junction with crypto. If there would be a global ban regarding crypto markets and penalize those who engage such endeavors then most likely it will render the market into a crash.
I really like your points however I think that things doesn't have to be to complicated:
Loss of interest
People just stop using crypto currencies and have no desire to adopt
Working monetary system
Everyone is happy with their paper money and there is no need for decentralized currencies anymore
January 27, 2020, 11:35:15 AM
What set of conditions (technical or socio-economic) can crash blockchain or bitcoin to zero USD?
There are many conditions to crash any current market to zero, but in terms of cryptocurrency there are few:
1. War
One doesn't simply recover from a massive destruction, whether by financial, stock or cryptocurrency all will suffer. Rebuilding what has been lost can be a painstaking task. Cooperation and trust are needed very much for any restructure but after a massive war it can be a very serious matter.
2. Network Failure
If the main internet grid has been destroyed or any existing channels of internet has been replace by another technology it can disrupt the current market by shutting down P2P. No connection, No P2P.
3. Global Ban
The current cryptocurrency market possess no potential threat on any fiat currencies but certain countries do ban any transaction in junction with crypto. If there would be a global ban regarding crypto markets and penalize those who engage such endeavors then most likely it will render the market into a crash.
January 26, 2020, 08:40:27 PM
What set of conditions (technical or socio-economic) can crash blockchain or bitcoin to zero USD?
There are many conditions to crash any current market to zero, but in terms of cryptocurrency there are few:
1. War
One doesn't simply recover from a massive destruction, whether by financial, stock or cryptocurrency all will suffer. Rebuilding what has been lost can be a painstaking task. Cooperation and trust are needed very much for any restructure but after a massive war it can be a very serious matter.
2. Network Failure
If the main internet grid has been destroyed or any existing channels of internet has been replace by another technology it can disrupt the current market by shutting down P2P. No connection, No P2P.
3. Global Ban
The current cryptocurrency market possess no potential threat on any fiat currencies but certain countries do ban any transaction in junction with crypto. If there would be a global ban regarding crypto markets and penalize those who engage such endeavors then most likely it will render the market into a crash.
January 26, 2020, 06:38:56 PM
Probably when there is a world war and money is not anymore valuable, people will be back in the old age of just prioritizing its food just to survive.
Bitcoin is money, we don't need that as a world that is on war cannot appreciate technology anymore, no more phones, computers needed at that time, and since bitcoin and crypto basically is only accessible through the internet, then no access means we can't use it so it would be useless.
this is just a worst scenario but let's not hope it would happen.
Bitcoin is money, we don't need that as a world that is on war cannot appreciate technology anymore, no more phones, computers needed at that time, and since bitcoin and crypto basically is only accessible through the internet, then no access means we can't use it so it would be useless.
this is just a worst scenario but let's not hope it would happen.
January 26, 2020, 04:55:49 PM
Nuclear war or other similar-scale disaster that results in destruction of the Internet is the only scenario when Bitcoin can literally crash to zero.
How about a critical vulnerability that separates coins from their rightful owners en masse? Let's say the encryption underpinning Bitcoin's signatures is broken. The security protecting the entire monetary supply would have been compromised so forking to a new signature algorithm doesn't completely address the issue.
Compare this to the 2010 value overflow bug. The community was able to pinpoint the block where that bug was exploited and effectively roll back to that point. That can't really be done if the encryption underlying Bitcoin itself was simply broken at some point in time. Rollback to where? How do we even know when the vulnerability emerged? It probably wasn't immediately exploited as a mass 0-day attack.
Hard to see BTC maintaining much value in that situation.
January 26, 2020, 01:01:26 PM
We are talking about conditions that happen in some extreme situations like world war III or some huge natural disaster that would strike the world or some global hackers attack on critical infrastructure.
So, basicly any situation that would interupt electricity and internet connection. All these situations are possible but still hope not very likely to happen.
So, basicly any situation that would interupt electricity and internet connection. All these situations are possible but still hope not very likely to happen.
January 26, 2020, 12:19:59 PM
What set of conditions (technical or socio-economic) can crash blockchain or bitcoin to zero USD? Is this notion of bitcoin crashing inconceivable at this point 10 years into its existence (so long as there is electricity and the internet)? My corollary question is: Can bitcoin be obsoleted by another cryptocurrency? What would that path of obsoletion look like for bitcoin? For example, I hear about other crypto currencies like Etherium or Lightcoin or Bitcash or Altcoin or Bitgold. What would be signs to look for that would make it prudent to cash out of Bitcoin to buy Etherium, for example.
Nothing can stop or crash bitcoin to zero unless if there is a global catastrophe which would blank out the entire net or source of electricity people people wouldnt able to access online.
Im not saying it isnt possible to fail but to think the possibility is nearly zero.As long theres a big community that do supports it then its unlikely to fail specially Bitcoin is the first or king of Crypto
and crashing it to the floor wont really be that easy.We are heading towards future where online payments and transactions will surely be adopted and blockchain tech would be there.
January 26, 2020, 08:50:10 AM
I think if we found a breach on the blockchain, and some people "hack", BTC will probably die, but this is only a very, very remote chance to happen
And obviously some big events like the end of the world, end of electricity and internet, some global war...
And obviously some big events like the end of the world, end of electricity and internet, some global war...
January 26, 2020, 08:31:54 AM
The reason which will lead to the crash of blockchain will only lead to he crash of Bitcoin. The fear of supercomputers is not unheard. Anything which can make blockchain unreliable will make Bitcoin go to 0 as the sole purpose for what the btc was created will no longer be valid.
The security is provides if gets threatened, the ultimate use case will cease to exist.
The security is provides if gets threatened, the ultimate use case will cease to exist.
January 26, 2020, 05:09:54 AM
The scenario that can make bitcoin crash is when the internet and electricity on this earth are destroyed which we will not see that thing happening in the near future ( I hope so). Because basically you need electricity when transacting with bitcoin, miners also need electricity so that your transactions on the blockchain can be verified by them, the internet needs electricity too, the point is electricity.
Cutting the internet forever is enough to crash blockhain. Without internet, most of technology will be useless but of course cutting the internet has 0% chance of happening. Rich countries will always fine a way to keep it alive. I don't know what came to op's mind and think of such impossible thing to happen within this era. We are in 2020, and I guess it's safe to say that blockchain technology will remain it's existence even in the near future. January 26, 2020, 04:34:06 AM
Tons of sh*t
-Time travelling and the assassination of satoshi
-Armageddon
-Explosion of every PC
-Human extinction
-The USD not existing anymore
Don't hold on to your BTC as much very likely things are waiting
-Time travelling and the assassination of satoshi
-Armageddon
-Explosion of every PC
-Human extinction
-The USD not existing anymore
Don't hold on to your BTC as much very likely things are waiting
lol seriuosly time travelling ? i can believe on others but time travelling is i think only a myth . .no matter how advance the technology is , i stil didnt think that time travelling is possible because that can mess up peoples life and everything . usd extinction is also i find interisting , why would extinct ? bcause of cryptos domination or only for any other reason ,but there are many currency not just usd or they can always print another one similar to usd .
January 26, 2020, 03:24:22 AM
I have always wondered if a technical error could ever do it. I know it looks like blockchain is solid and there has been no wrong doings aside from occasional double spending as far as we know it and even double spending hurts the shop and not bitcoin in general.
However, if one day someone finds a way to just print out bitcoin out of thin air somehow, which I know sounds impossible to you right now but this is technology we are talking about and maybe someone is that good of a hacker, I don't know if it will ever be possible. Or maybe someone being able to create "computer" so strong it could hack into anyone's wallets. These things look impossible and for all counts and purposes IS impossible but I am %100 sure if it that ever happened, price of bitcoin would plummet faster than a meteroid.
However, if one day someone finds a way to just print out bitcoin out of thin air somehow, which I know sounds impossible to you right now but this is technology we are talking about and maybe someone is that good of a hacker, I don't know if it will ever be possible. Or maybe someone being able to create "computer" so strong it could hack into anyone's wallets. These things look impossible and for all counts and purposes IS impossible but I am %100 sure if it that ever happened, price of bitcoin would plummet faster than a meteroid.
Yes that has been done before!..
https://en.bitcoin.it/wiki/Value_overflow_incident
And extra 184,467,440,737.09551616 BTC that is 184 billion BTC
January 25, 2020, 12:25:55 PM
I have always wondered if a technical error could ever do it. I know it looks like blockchain is solid and there has been no wrong doings aside from occasional double spending as far as we know it and even double spending hurts the shop and not bitcoin in general.
However, if one day someone finds a way to just print out bitcoin out of thin air somehow, which I know sounds impossible to you right now but this is technology we are talking about and maybe someone is that good of a hacker, I don't know if it will ever be possible. Or maybe someone being able to create "computer" so strong it could hack into anyone's wallets. These things look impossible and for all counts and purposes IS impossible but I am %100 sure if it that ever happened, price of bitcoin would plummet faster than a meteroid.
However, if one day someone finds a way to just print out bitcoin out of thin air somehow, which I know sounds impossible to you right now but this is technology we are talking about and maybe someone is that good of a hacker, I don't know if it will ever be possible. Or maybe someone being able to create "computer" so strong it could hack into anyone's wallets. These things look impossible and for all counts and purposes IS impossible but I am %100 sure if it that ever happened, price of bitcoin would plummet faster than a meteroid.
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