Bitcoin could be destroyed either (1) economically, where its value is worthless or (2) technologically where it ceases to exist.
for (1) economical destruction to occur, it will happened when using bitcoin isnt worth it anymore. Maybe severe regulation from government kills it. Or the media kills it by giving it a bad image. Another possibility is severe market manipulation. Who knows how much bitcoin is centralized to individuals.
for (2) technological destruction, one bad update could pretty much do it. Technology is changing everyday. One break through in hardware changes the game in cryptography. So really, the software has to adapt with the changes, if it fails to do so, it's the end for bitcoin
Topic: What will destroy the bitcoin? - page 16. (Read 1447 times)
Bitcoin appeared in 2009, eight years, the total value of the circulation of bitcoins up and down 200 billion US dollars. Bitcoin was declared "dead" by the media countless times. However, it is undeniable that the media has a huge influence. Therefore, with each media claim that "bitcoin is dead", the price of bitcoin will drop sharply. The magic is that every time Bitcoin is alive, its price has hit a new high all the way. In other words, in the face of so-called drug poisoning amateur media reports, bitcoin gradually developed "resistance", negative media coverage for the impact of bitcoin prices getting smaller and smaller. What will eventually destroy bitcoin? If there is a force that can destroy bitcoin, it must be human greed.
I am believe that bitcoin always survive because community. Community on crytpcurrency is very essential because countless negative news but if community is strong, cryptocurrency will survive and more stronger
What can possibly destoy bitcoin? Well I think you can't kill bitcoin globally unless there is a global disconnection in the internet which is very impossible. But Bitcoin can be killed by government official, they have the power to ban bitcoin in their country, that way, bitcoin will be killed in your country but still be alive in another country.
i think The one who can destroy Bitcoin is investor itself, and if every investor thinking to sell her bitcoin so bitcoin price will go down and bitcoin will dont have price
Yes, people.
Bitcoin has grown so big that now Bitcoin is the only thing that could destroy itself and I don't see any other alternative as of now that could replace Bitcoin in terms of user base, market capital, transaction volume. I believe that we should use it as a payment system without focusing on earning speculative gains from the same. The first priority should be given to the core concept of Bitcoin as a payment system.
I think bitcoin will only be destroyed if every country has already banned it because it will stop working due to no one is using it. But if we will strive hard to achieve the goal for making it alive until the future, everyone will benefit including other who will just start to use it.
i think The one who can destroy Bitcoin is investor itself, and if every investor thinking to sell her bitcoin so bitcoin price will go down and bitcoin will dont have price
The bitcoin will stop if by the presidents of each country. there might still be a bitcoin
Yes, I agree that losing bitcoin will be easy if they do not use it. But since in different countries, especially in the US, on the contrary there is a growth of people who join, then it will not die.
That will destroy Bitcoin is ourselves. When we do not use Bitcoin then the price of Bitcoin will continue to decline. The current price is because many people trust and use Bitcoin, keep support to Bitcoin and we will feel the benefits. When we do not use Bitcoin then Bitcoin will slowly disappear and will not mean anything at all.
True, since bitcoins value depends on the market activities which relies on the activities related to its users and investors. As long as bitcoin is being used by people then it will continue on doing its purpose.
Yeah. As long as we continue using bitcoin and invest on it,it will never destroy, and of course internet is also our need to connect bitcoin where ever we are. Bitcoin is our future that is why i want to earn more bitcoin now.
Bitcoin appeared in 2009, eight years, the total value of the circulation of bitcoins up and down 200 billion US dollars. Bitcoin was declared "dead" by the media countless times. However, it is undeniable that the media has a huge influence. Therefore, with each media claim that "bitcoin is dead", the price of bitcoin will drop sharply. The magic is that every time Bitcoin is alive, its price has hit a new high all the way. In other words, in the face of so-called drug poisoning amateur media reports, bitcoin gradually developed "resistance", negative media coverage for the impact of bitcoin prices getting smaller and smaller. What will eventually destroy bitcoin? If there is a force that can destroy bitcoin, it must be human greed.
The media cannot kill Bitcoin. That is what I am sure of. The media are really corrupted to its core. That is the real deal of the media not just on the world level but also on the level of specific territories. The media is now a paid shill, a mouthpiece of a certain organization, body, or group of people, may they be government-related or private. The media is not telling the truth. The only entity that will kill Bitcoin effectively are the people who supported Bitcoin themselves. There is none other. However, I cannot imagine Bitcoin being killed by the members of the Bitcoin community themselves. That is simply impossible.
Nothing can kill it, even if it loses 90% value which is unlikely, people care enough about the technology to keep it alive, many illegal things are banned worldwide but still continue, we won't see a global ban either, at least 1 country will keep it legal and there is no reason to ban it, it breaks 0 laws, regulation will come along one day to ensure we all pay tax and don't launder money through it, this is normal for all tradeable assets.
The EMP idea is stupid, a global EMP = we go back to the stone ages.
No internet is also stupid, the world in both an economical and social sense are both dependant on the internet now, most businesses depend on the internet now and removing it would be chaotic.
it's going no where.
The EMP idea is stupid, a global EMP = we go back to the stone ages.
No internet is also stupid, the world in both an economical and social sense are both dependant on the internet now, most businesses depend on the internet now and removing it would be chaotic.
it's going no where.
If the major investors starts dumping, the prices in btc will start fluctuating or we may see major market correction moves as well which would bring the market to its instance price initially. At that time, we do not know what would be the saturation of the market and how do the market makers react on this scenario. However, dumping the btc itself gives an indication that either buy or sell.
Simply dumping of bitcoins is not enougn to destroy it, and it is too impossible to happen since only insane people would do that. We love bitcoin to the point we are holding it even though the price of it is a too low for us to sell. My opinion about this is bitcoin could be destroy IF there will be a coin that is going to be invented by someone that could overpower bitcoin itself, good luck whoever wants to do that.
That will destroy Bitcoin is ourselves. When we do not use Bitcoin then the price of Bitcoin will continue to decline. The current price is because many people trust and use Bitcoin, keep support to Bitcoin and we will feel the benefits. When we do not use Bitcoin then Bitcoin will slowly disappear and will not mean anything at all.
True, since bitcoins value depends on the market activities which relies on the activities related to its users and investors. As long as bitcoin is being used by people then it will continue on doing its purpose.
If the major investors starts dumping, the prices in btc will start fluctuating or we may see major market correction moves as well which would bring the market to its instance price initially. At that time, we do not know what would be the saturation of the market and how do the market makers react on this scenario. However, dumping the btc itself gives an indication that either buy or sell.
Maybe one day when the total limit of coins get mined and the prices skyrocket like never seen before and the common people stop using bitcoin and buying as the prices would be too high. Or maybe somehow bitcoin loses its demand in the market or people start to not trust bitcoin because of something that might have happened and it made people lose faith in Bitcoin. Another thing can be due to the influence of some multi-millionaire the price of bitcoins go down a lot or like the JPMorgan Chase incident but a bigger one.
I think the only thing that could destroy Bitcoin is the investors and miners. If they're turning their back with Bitcoin , it's really hard for Bitcoin to survive.
You have your point.For me the first to destroy the bitcoin was the member of bitcoiner who generate only for negative trust.And the second was all the investor if they dump all their earn bitcoins. I think the only thing that could destroy Bitcoin is the investors and miners. If they're turning their back with Bitcoin , it's really hard for Bitcoin to survive.
For me, there are many things that can destroy bitcoin. One of this is the government. Some government in some countries planned to ban bitcoin for some reason and when they ban bitcoin they destroy bitcoin. Another is the hackers. Hackers can destroy bitcoin by hacking someone's account. They can program some hacking tricks to open ones account. There are other things that can destroy bitcoin but bitcoin is strong so it can face it.
Only humans can destroy bitcoin. If all humans decided not use bitcoin anymore. End
it is unpredictable whether bitcoin can be destroyed or not, but bitcoin can only be attenuated by creating an issue that only makes the bitcoin price drop drastically. I think it's natural and until now no one can destroy bitcoin because the bitcoin position is getting stronger.
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