What will destroy the bitcoin? - page 17.

mk4

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Quote from: iv4n on February 28, 2018, 04:40:55 AM

Quote from: mk4 on February 27, 2018, 11:11:20 PM

Bitcoin will exist as long as there's one or at least few computers running a bitcoin full node. What could possibly stop this? Probably a global blackout or a huge EMP(electromagnetic pulse)[1] or something.

[1] https://en.wikipedia.org/wiki/Electromagnetic_pulse

Some powerful EMP or CMP, or any other dangerous shortcut can destroy much more then bitcoins, destruction will be everywhere, human lives can be lost, why would we care about bitcoin when there is more important things in life, or I am wrong?
This is 1003 topic about what can destroy bitcoin, and I always pay attention on this topics, I always see some new original answer that makes me laugh a lot.

Err. You're probably right. I've always thought that EMP only affected electronics LOL. Didn't think of the possibility that it's also physically harmful to humans etc. Looks like I need to do more research on it.

Quote from: iv4n on February 28, 2018, 04:40:55 AM

Quote from: o_e_l_e_o on February 28, 2018, 04:17:53 AM

Be interesting to see how crypto would cope with this. Theoretically, it is possible that all copies of the blockchain were destroyed, or that only one or two people were still able to run nodes. A lot of wallets would be destroyed and lost forever. Would crypto even be viable if it would take 10 years for global recovery? I feel people might have more important things to deal with.

Make a paper wallet and save your private keys on paper, in that way your bitcoins will be safe. After you will be able to recover your wallet, simple don't you think? That is a good reason to make one just in case if you are really afraid from some global blackout.

But then, in the case of an EMP whereas only the people who had stored their private keys on a piece of paper(which are a minority, I assume) has access to their coins, then wouldn't bitcoin be almost useless? As there would be too much bitcoin that's inaccessible?

But yea, private keys on paper is a must.

cynical

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Quote from: mk4 on February 27, 2018, 11:11:20 PM

Bitcoin will exist as long as there's one or at least few computers running a bitcoin full node. What could possibly stop this? Probably a global blackout or a huge EMP(electromagnetic pulse)[1] or something.

[1] https://en.wikipedia.org/wiki/Electromagnetic_pulse

yes that is pretty much it but it would have to be significantly bigger than the one in oceans 11 Grin

Seriously though, the only thing is a worldwide internet collapse and blackout,
other than that there will always be people willing to mine Bitcoin,
look at dogecoin, people are still "using" it.

sitnikov

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Quote from: csdga on February 27, 2018, 11:07:09 PM

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.

Following things can destroy bitcoins completely:

1) We have another amazing alternative to bitcoins developed. This is very much probable as we are already seeing a lot of advancements taking place from time to time. However, this requires a strong vision, not the desire to make short term profit like current alt coins being launched.

2) Countries like U.S banning bitcoins completely and making such transactions illegal. This is something that has very less probability of happening but we can never tell about the mood of politicians.

JerryJam

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Bitcoin is a revolution . But there are some problems. Collaboration and integration of the community one of the ways of solving this problem. To destroy bitcoin and all cryptocurrency as a whole are some of the factors. Like a Grand hacker hack. As a result, huge amounts of money can be stolen. The end of bitcoin can also be a ban on cryptocurrency transactions by governments of all States.

earl07

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Quote from: baby222 on February 28, 2018, 04:41:40 AM

Bitcoin was well created and I don't believe there is a way to destroy it. The creators will prevent this to happen

Does it mean that satoshi nakamoto is still out there watching whats happening in his/her great project?

IMO,there's no other thing or people that can destroy bitcoin but its user only.If bitcoin will be abandoned by all of its users then it might disappear,or maybe it still be there but non valuable.

cryptojac17

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Quote from: mk4 on February 27, 2018, 11:11:20 PM

Bitcoin will exist as long as there's one or at least few computers running a bitcoin full node. What could possibly stop this? Probably a global blackout or a huge EMP(electromagnetic pulse)[1] or something.

[1] https://en.wikipedia.org/wiki/Electromagnetic_pulse

Yeah bitcoin infrastructure or the blockchain technology it self why there are many individual who does mining this a very brilliant idea because you cannot crush an infrastructure that scattered around the world tied in a one technology the block chain technology supporting crypto currency that how powerful bitcoin is . If you doubt about crushing bitcoin the technology and the infrastructure will give you good assurance.

Proton2233

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Bitcoin can only ruin the greed of users. Each person holds the bitcoins so we can see the lack of offers trading with bitcoins. Miners raise prices for transactions and inhibit the growth of bitcoin's popularity. Developers do not want to solve the problem of scaling and therefore bitcoin is unsuitable for trading.

00DKM@

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Quote from: csdga on February 27, 2018, 11:07:09 PM

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.

We know that Bitcoin is not owned by any country. If there is news in the world that a country will ban bitcoin, the bitcoin price will be affected and the bitcoin price will drop. while the remaining countries continue to trade bitcoin. So Bitcoin is not dependent on a country, but bitcoin depends on the whole world, so bitcoin will never die. forever never die.

asus09

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Quote from: csdga on February 27, 2018, 11:07:09 PM

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 don't agree like you. tv or online media is becoming one of the major decreases in bitcoin and other crypto. but not sharply, some countries are making the factor a very painful constraint to the decline. for the sustainability of man himself. I agree. but it will destroy itself, not on bitcoin. bitcoin will remain as long as the banking system in all countries is more friendly and not capitalist

cpoer2011

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I think if there is no internet connection then bitcoin and other altcoins will be destroy, that's what I thought. Because if there is no internet connection then bitcoin and other altcoins can not be mined by the miner Cheesy

JhonWong

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It's certainly not a different kind of encrypted currency to beat Bitcoin, but I don't know what it is. As we firmly believe, Bitcoin can defeat the national currency.

Alert31

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Trident Protocol | Simple «buy-hold-earn» system!

I think the only one that can destroy bitcoin is the internet itself. Bitcoin is nothing without internet. Every bitcoin transaction you need an internet. So,even it is impossible to happen in our generation, for me if the internet totally shut down then bitcoin will vanished and never live to the fullest.

12tribes

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What can destroy the bitcoin is yet to be born. The media, the experts and all the naysayers have severally and roundly condemned the bitcoin and used their swords to poke at it. However, it is to be see what can put the bitcoin to even coma talk more of death.......lol

tegarp90

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something that will destroy bitcoin is a cryptocurrency which has a very fast transaction speed and lower fees (currently people talk about ETH will destroy BTC).
But we'll see how far BTC can go with current bad condition

michael shikany

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I think nothing can destroy the bitcoin, but the private key of bitcoin in the future it will probably be cracked, it makes me feel worried, because the application of a quantum computer could directly to crack the private key.

Silentsweeper

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You would need some serious costly computing power to manipulate or destroy any aspect of the bitcoin process.
The same is for trying to slow down transactions or to modify the blockchain.

ss890

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Media has always been dirty mind and they are the biggest lier in the whole world. The news could be one but when it reaches to us it is almost manipulated to 50% or more. For the big publicity of the channel itself they will do such thing so that they can claim later on that they are the one who were first to tell such news but in the process they forget that they are manipulating the stuff heavily. The net effect is off course panic amongst the normal user of the crypto who go on disturbing the market by their act of selling, unwanted FUD creations and much more. So media will always be on top to disturb the crypto currency market.

Quote from: baby222 on February 28, 2018, 04:41:40 AM

Bitcoin was well created and I don't believe there is a way to destroy it. The creators will prevent this to happen

Its not about how it was created or what is the layer of protection for it but its about the popularity and its faith. If the bitcoin gets hatred all the time then im sure creators will be helpless as well. what they can do in front of the investors ? Pleed! Dont think so.

baby222

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Bitcoin was well created and I don't believe there is a way to destroy it. The creators will prevent this to happen

iv4n

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Quote from: mk4 on February 27, 2018, 11:11:20 PM

Bitcoin will exist as long as there's one or at least few computers running a bitcoin full node. What could possibly stop this? Probably a global blackout or a huge EMP(electromagnetic pulse)[1] or something.

[1] https://en.wikipedia.org/wiki/Electromagnetic_pulse

Some powerful EMP or CMP, or any other dangerous shortcut can destroy much more then bitcoins, destruction will be everywhere, human lives can be lost, why would we care about bitcoin when there is more important things in life, or I am wrong?
This is 1003 topic about what can destroy bitcoin, and I always pay attention on this topics, I always see some new original answer that makes me laugh a lot.

Quote from: o_e_l_e_o on February 28, 2018, 04:17:53 AM

Be interesting to see how crypto would cope with this. Theoretically, it is possible that all copies of the blockchain were destroyed, or that only one or two people were still able to run nodes. A lot of wallets would be destroyed and lost forever. Would crypto even be viable if it would take 10 years for global recovery? I feel people might have more important things to deal with.

Make a paper wallet and save your private keys on paper, in that way your bitcoins will be safe. After you will be able to recover your wallet, simple don't you think? That is a good reason to make one just in case if you are really afraid from some global blackout.

pat4cryptoreal

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I think even government and media cannot destroy bitcoin, the only thing that can totally destroy bitcoin is when there is no internet.

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