Who can destroy Bitcoin ? - page 33.

lucy1215

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Quote from: senne on September 18, 2017, 04:05:21 PM

Bitcoin is growing very powerfully but in this present scenario which factors can destroy or make its market value Zero.

Indeed bitcoin is very powerful now with the current value i think the factors could affect or destroy its market value to zero are when investors disregard and do not include bitcoin anymore in their investment schedules and when investors start to dump bitcoins like a massive dump together with other investors and never re invest again. I can see also that if a coin could overpower or take place of the bitcoin that can be also a factor.

Thanasis

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Quote from: websoftwareengineer on October 21, 2017, 08:01:09 AM

Quote from: stefy77 on October 20, 2017, 02:45:49 PM

Only if all governments are forced to ban all bitcoin together they can defeat it. Otherwise they will not have any chance, bitcoin will dominate.

It was really not possible to disable all the bitcoins circulation because a lot of company will fall down and they will all complain, There is a lot of investor who spend to much in this bitcoin industry and that is the reason why they cannot remove bitcoin so easily because everyone will be affected.

Even all government ban the bitcoin they can't do anything about it,because bitcoin doesn't depend on any government.There is only on way to stop bitcoin is shutting down the internet worldwide if that happens the whole world will be choked no one can do their work.Even all governmet work needs internet so it won't happen.The bitcoin will survive untill people using it.

websoftwareengineer

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Quote from: stefy77 on October 20, 2017, 02:45:49 PM

Only if all governments are forced to ban all bitcoin together they can defeat it. Otherwise they will not have any chance, bitcoin will dominate.

It was really not possible to disable all the bitcoins circulation because a lot of company will fall down and they will all complain, There is a lot of investor who spend to much in this bitcoin industry and that is the reason why they cannot remove bitcoin so easily because everyone will be affected.

Sketztrophonic

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Quote from: senne on September 18, 2017, 04:05:21 PM

Bitcoin is growing very powerfully but in this present scenario which factors can destroy or make its market value Zero.

Total internet shutdown in the whole word
And a god hacker that can crack private keys and can scan unique addresses. but when we're talking about total internet shutdown that is impossible because the main root to connect people in this world is by internet nowadays. And for hacker that can crack private. I know there is some hacker that can do it. But they don't do it because as I think bitcoin also benefits them.

Alok Yadav

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Some computer scientists say quantum computers are moving closer to reality and will cripple bitcoin’s encryption systems and doom bitcoin. Governments are investing aggressively in quantum computers, which are ultra powerful.

Quantum computers, first theorized by physicist Richard Feynman in 1982, have promised a new era of computing. The theory has only recently translated into significant real-world advances, with NASA, the CIA and Google working on a quantum computer. Computer scientists now warn the machines will cripple existing encryption methods and destroy bitcoin’s technological foundations.

Andersen Cheng, co-founder of Post Quantum, a U.K. cybersecurity firm, said that bitcoin will end the day the first quantum computer arrives. He said the quantum computer will undermine the cryptography surrounding bitcoin’s public and private keys.
Bitcoin recipients share their public key with the sender. To spend bitcoin, a bitcoin owner must use their private key. If another party learns the private key, that party can spend all the bitcoin.

Martin Tomlinson, a professor at the Security, Communications and Networking Research Centre in Plymouth University, said a quantum computer can calculate the private key from the public one in a minute or two. By learning all the private keys, someone would have access to all available bitcoin.
Tomlinson did not know when the first quantum computer will appear that will have this capability, but he noted that extensive research is under way. The European Commission announced a $1.1 billion project earlier this year aimed at bringing a “quantum revolution.”

sirslayer

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Quote from: azril fauzan on October 19, 2017, 06:58:54 AM

I do not think anyone can destroy bitcoin as long as bitcoin can be traded and accepted as a medium of payment for trade transactions

Yes you are right no one can destroyed bitcoin because everyone they are going to support bitcoin either they are countries or people around the world because bitcoin is going to help he people around the world it has already changed a life of thousands of people and day by day its users are going to increase just because of his good services.

farhansadik

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Bit coin is a crypto currency so the only way to destroy or make the value zero is complete shutdown of internet around the world. And I my opinion it is not possible. Another issue in this topic which can be discussed is some government are concern about the activity of bitcoin like china in few days ago, it had a great impact on the value of it, the price went down. But now it become more valuable than ever. Every currency price goes up-and down so does crypto currency. But it can not be zero.

iqrasalsabila

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Bitcoin can be restroyed depending on the causes of what is diminishing bitcoin enthusiasts that can cause bitcoin prices are getting down.
Morever, the uccurrance of world wars, because the war has potential to cause many things, one of which the economy crisis that impacts the sale price of bitcoin.
Bitcoin destruction can also occur in small scope.
For example f a country prohibits hardly using bitcoin in any form that can make bitcoin no value again.
But that only applies to countries that implement the rule.

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Quote from: Reid on October 20, 2017, 02:32:22 PM

Yeah. It could be the FUD that could destroy it if we will all believe in it.
Not literally destroyed because that can happen but losing its value until it goes to zero is also like destroying it.
And who else can do that except the ones who believes in it, buyers and the users who keeps on supporting it and have faith in bitcoin.

FUDs won't be destroying bitcoin. It will just be causing some swing in the price of the currency. The fluctuation will be temporary and price recovers soon enough. Recovery stage is fast because after few hours of price drops, new investors sees it as an opportunity to invest on bitcoin when the price is low, which in return caused the price to go backup and stabilize.

stefy77

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Only if all governments are forced to ban all bitcoin together they can defeat it. Otherwise they will not have any chance, bitcoin will dominate.

Timoteus

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Quantum computers can to destroy BTC

Alexnelepa92

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Except that the creators =) and not really to put it , one version of a global Power outage and all=)

dynospytan

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Quote from: senne on September 18, 2017, 04:05:21 PM

Bitcoin is growing very powerfully but in this present scenario which factors can destroy or make its market value Zero.

I think no one can make the value of bitcoin into zero, but i have an idea who can destroy bitcoin. We all know that bitcoin is a digital currency and If they shutdown the internet no one can earn bitcoin even it has a huge value. But i think it’ll never happen. It’s too far to happen.

BillCoin

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I think that the most dangerous risk to bitcoin is that if countries will start blocking it because they will count it as a way to launder money.

Anyway, it is not possible to 'DESTROY' Bitcoin, because the network is not based on a single server, and it is spread over the whole world.

The only thing countries could do to bitcoin is to make it very hard to transfer from and to fiat, which is going to make it hard to use, but you will still be able to transfer bitcoins to other people, on the securest network in the world.

pushups44

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Nothing short of a worldwide catastrophe can stop bitcoin. As it is decentralized, no single entity or organization can take it down. Even laws prohibiting its use will be futile. As long as people are willing to exchange it for goods and services it will be valuable.

Reid

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Quote from: EllaPonchik on October 20, 2017, 01:54:30 PM

Only people themselves can destroy it. Even the most influential can not influence him. Wink

Yeah. It could be the FUD that could destroy it if we will all believe in it.
Not literally destroyed because that can happen but losing its value until it goes to zero is also like destroying it.
And who else can do that except the ones who believes in it, buyers and the users who keeps on supporting it and have faith in bitcoin.

hxk451

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Whether china totally Disallows those crypto cash for its country, What's more this is very much could reasonably be expected for association for the most recent news from china around the draconian measures continuously readied there clinched alongside connection to those crypto currency, this won't mean passing to bitcoin. Bitcoin will be very fit for surviving Furthermore effectively Creating without China, which need seen its huge Growth over the most recent three times.

Haunebu

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Quote from: senne on September 18, 2017, 04:05:21 PM

Bitcoin is growing very powerfully but in this present scenario which factors can destroy or make its market value Zero.

I feel that the only thing that can destroy bitcoin is the bitcoin holders themselves. If the holders dump all their bitcoin, bitcoin will cease to exist. This would most probably never happen. Bitcoin will keep growing and will keep going to the moon.

SteffCoins

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Quote from: LevshaK1 on October 20, 2017, 01:47:56 PM

Quote from: Eternu on October 20, 2017, 01:43:50 PM

Quote from: TraderRay on October 20, 2017, 11:56:07 AM

As of now, No One. But in the future, maybe when all countries' government act in unison to control it, the value will drop but not totally to zero

I think that you are right, it would be nearly impossible to destroy Bitcoin now. It have too much users and a lot of people support it, and those are still growing. One day we will see regulation of Bitcoin in all countries, but that will not happen soon. Bitcoin is growing so fast and it is great to see that.

Governments of different countries want to regulate bitcoin, but I doubt that they will succeed. But the government has long arms. Therefore, it seems to me that if bitcoin is punished with strict punishment throughout the world, bitcoin will die

Bitcoin will not die. Believe it or not there will always be people who will keep it alive even under the control of all the countries. If it shall die, should have happened sooner. Now that it already has its roots deep, It will stay forever.

Drugs for example, even under serious government regulations,still alive. Reason: some still use them.

EllaPonchik

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Only people themselves can destroy it. Even the most influential can not influence him. Wink

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