I do not think there is anything wrong with bitcoin and nothing can stop the price of it and I think so many people support bitcoin because bitcoin is so important to people not just using those transactions it also helps you achieve your dream and buy the ones you want to buy in this world can be very important for bitcoin in people especially because they are very expensive and if you have a very cheap price then you have a lot of money
Topic: What will destroy the bitcoin? - page 18. (Read 1450 times)
Government Legislation will be the main bitcoin killer, governments want to exercise control over BTC, something that is against the cryptocurrency policy. But Bitcoin survived negative media before and it will survive this one too. Prominent people such as Bill Gates and warren Buffet has also come out to express their luck of confidence in BTC, reducing their close followers' confidence in BTC,
It will be impossible to destroy bitcoin. Bitcoin has come to stay expect the human race decide not to use computer any more. Even the media that preach bad about crypto currency are the once creating more awareness directly or indirectly.
Regulation. Countries will regulate or even ban it. There is too much at stake in terms of lost tax revenue and also national security.
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.
Even if an EMP hit or a global blackout occurred, wouldn't that only be a temporary halt in activity? I don't think this would be the death of Bitcoin, unless I misunderstand something the blocks should just pick back up with extremely low-difficulty once we get power back.
I'm really not 100% sure, but yea I do think it will only be a temporary halt. What I think is though, that EMP can actually destroy electronic hardware, not just sort of crash/stop them like when a blackout occurs. Though it's probably unlikely for an EMP to destroy 100% of the harddrives of the whole world.
EMP interference is generally disruptive or damaging to electronic equipment, and at higher energy levels a powerful EMP event such as a lightning strike can damage physical objects such as buildings and aircraft structures. -Wikipedia
You raise some interesting points. The most likely cause of a worldwide failure of technology is a Coronal Mass Ejection (CME) - a release of plasma and magnetic field from the sun. There was a major CME that hit Earth in 1859, that if it happened today, would likely disable/damage/destory all electrical equipment on Earth. There was another big one in 2012 that passed through our orbit, but just missed Earth. If it had hit us, the estimated time to global recovery would be 4-10 years.
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.
dump all the knowledge and technology we use today and go back to stone-age or destruction of civilization - only 2 ways to stop Bitcoin.
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.
Even if an EMP hit or a global blackout occurred, wouldn't that only be a temporary halt in activity? I don't think this would be the death of Bitcoin, unless I misunderstand something the blocks should just pick back up with extremely low-difficulty once we get power back.
I'm really not 100% sure, but yea I do think it will only be a temporary halt. What I think is though, that EMP can actually destroy electronic hardware, not just sort of crash/stop them like when a blackout occurs. Though it's probably unlikely for an EMP to destroy 100% of the harddrives of the whole world.
EMP interference is generally disruptive or damaging to electronic equipment, and at higher energy levels a powerful EMP event such as a lightning strike can damage physical objects such as buildings and aircraft structures. -Wikipedia
Human greed is my special subject and I believe that over the past big civilisation and even political forces were grounded to death just because of one thing, “Human Greed”. The bitcoin however is something different and has arrived in the era of technical advances. Here people are greedy as well as enthusiastic too. But as we know greed always eats out enthusiasm so what about the bitcoin. The gambles and trades are growing day by day but in scam manners and people are taking advantages of this to loot others and make the bitcoin economy very unhealthy. I’m pretty sure that’s the prime factor in destroying the bitcoin.
I agree 100%. Bitcoin uses (no tax, anonymity, payment system) are failing. Why is Bitcoin price 8 times more than Gold ??
Bitcoin is going back to $400 after its climb from $1 to $10,000 in 8 years.
It is said now China is a "cashless society". Use of debit and credit cards on online & offline stores/shops, pay bills etc.. Now people from any country can buy gold and silver from bullion dealers website/online stores and store them in vaults in other countries (write to me). So gold and silver has also gone digital/electronic.
Actually, Bitcoin and cryptocurrencies are not required.
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.
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.
I would gladly be one of the last nodes standing; I doubt there is any inadequacy in the amount of people willing to run a node without question. Even if an EMP hit or a global blackout occurred, wouldn't that only be a temporary halt in activity? I don't think this would be the death of Bitcoin, unless I misunderstand something the blocks should just pick back up with extremely low-difficulty once we get power back.
Each time the price of BTC drops, whether it is due to the media or something else has always resulted in an even higher price due to the buying pressure at lower price points beginning a domino effect of demand. I don't see the words of anyone as a possible end to Bitcoin.
If not handled properly, bitcoin mining is likely to affect the global use of resources and energy. The Bitcoin industry can not ignore the possible economic, social and environmental impact of cryptocurrencies.
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.
I would gladly be one of the last nodes standing; I doubt there is any inadequacy in the amount of people willing to run a node without question. Even if an EMP hit or a global blackout occurred, wouldn't that only be a temporary halt in activity? I don't think this would be the death of Bitcoin, unless I misunderstand something the blocks should just pick back up with extremely low-difficulty once we get power back.
Each time the price of BTC drops, whether it is due to the media or something else has always resulted in an even higher price due to the buying pressure at lower price points beginning a domino effect of demand. I don't see the words of anyone as a possible end to Bitcoin.
Human greed is my special subject and I believe that over the past big civilisation and even political forces were grounded to death just because of one thing, “Human Greed”. The bitcoin however is something different and has arrived in the era of technical advances. Here people are greedy as well as enthusiastic too. But as we know greed always eats out enthusiasm so what about the bitcoin.
The gambles and trades are growing day by day but in scam manners and people are taking advantages of this to loot others and make the bitcoin economy very unhealthy. I’m pretty sure that’s the prime factor in destroying the bitcoin.
The gambles and trades are growing day by day but in scam manners and people are taking advantages of this to loot others and make the bitcoin economy very unhealthy. I’m pretty sure that’s the prime factor in destroying the bitcoin.
The real question is "what will destroy crypto" I think it would take a lot more to destroy bitcoin without destroying the rest of crypto than it would to just destroy crypto altogether.
Bitcoin has basically turned into a gold standard at this point. Using it for actual transactions is not really done very much, as other coins provide faster functionality (Litecoin comes to mind).
It is possible that the lightning network for bitcoin will fix that and bring bitcoin back into more of an active usage state (which would have a pretty big impact on other coins), however the gold standard will still be a big part of bitcoin for years to come.
The only way i see bitcoin dying without totally screwing up the rest of the market is if another coin takes over the "gold standard" slot. For this to happen, it would have to accomplish more than just a technical hurdle, it would have to be a change in belief in the general population, and that's really the key to all of this.
Bitcoin has basically turned into a gold standard at this point. Using it for actual transactions is not really done very much, as other coins provide faster functionality (Litecoin comes to mind).
It is possible that the lightning network for bitcoin will fix that and bring bitcoin back into more of an active usage state (which would have a pretty big impact on other coins), however the gold standard will still be a big part of bitcoin for years to come.
The only way i see bitcoin dying without totally screwing up the rest of the market is if another coin takes over the "gold standard" slot. For this to happen, it would have to accomplish more than just a technical hurdle, it would have to be a change in belief in the general population, and that's really the key to all of this.
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.
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
[1] https://en.wikipedia.org/wiki/Electromagnetic_pulse
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.
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