Topic: Who can destroy Bitcoin ? - page 49. (Read 21748 times)
I think that bitcoin will not stop anything. Most likely in budshche it will become one and the central world currencies.
Bitcoin might be a virtual treasure, but somehow as time passed by developers and inventors are being smart on the way that they are storing their bitcoin(ledger wallet for example). So I really think that bitcoin's technology is coping up with the current tech threats that might attack it. Sooner or later we will be invulnerable on current threats right now. And governments? I really don't think that all of them might ban it, there will be and there would still be one that will allow it because of the advantages that it can bring to them.
Speaking extraterrestrial or supernatural events like(excessive sun flares that can emit excessive magnetic effect,
) we will die first before bitcoin dies. Haha
Speaking extraterrestrial or supernatural events like(excessive sun flares that can emit excessive magnetic effect,
) we will die first before bitcoin dies. Haha 
A massive restriction on global scale: Governments all over the world restrict the contact points with regular money and make it very, very hard to exchange Bitcoins.
Bitcoin is growing very powerfully but in this present scenario which factors can destroy or make its market value Zero.
Even in a LEE (Life Extinction Event) on Earth, Bitcoin may survive.. It's so resilient than even if there's no one still alive on earth, chances are that some bitcoins may survive humanity !
I think the government is the one who can destroy bitcoin, because if the government forbids bitcoin, and turns off all bitcoin access, then there will be nothing else to do bitcoin transactions
If Bitcoin someone and can destroy Bitcoin, then this is China. Although honestly, depending on how fast it grows, and the fact that China is not the only superpower in the world, I can say that Bitcoin's collapse will not happen.
It seems to me that bitcoins have become so widespread that nothing can completely destroy them. Of course, they can be undermined by a weak market situation, but they will not destroy it completely. The situation of bitcoins is constantly stabilizing, so I do not think it is possible.
I think Bitcoin will survive and last for a long time but there are a few scenarios by which Bitcoin could fail:
1) Major countries could over-regulate Bitcoin to the point that it is just an underground currency. That could make it weaker and it may not survive.
2) A group of wealthy investors could gain 51% of Bitcoin and could take it over. At this point I think this is unlikely.
3) Over time, the fees could get too high and people stop using Bitcoin.
4) An altcoin or several altcoins could eventually become more popular and phase Bitcoin out.
Like I said, I don't think Bitcoin will fail, but these are a few ways that it could happen.
Bitcoin is growing very powerfully but in this present scenario which factors can destroy or make its market value Zero.
Nowadays in many countries , bitcoin only become virtual currency. This means it can only be accessed via the internet. And only a few trusted webs to access the bitcoin. This means that, if all countries have no internet or that may still block the web access then that's when it will be near the fall of the bitcon.
I think destroying anything not only bitcoin is easy, all younhave to do is to drop it, or not support it. Once there is no one who is using or investing or even just taking a look at it, then it would definitely fall down. The problem is how can you put down or destro something like bitcoin?, its a great help to people who knows bitcoin and just how would peopl stop using it if it greatly aids their needs.
I think the country with the strongest economy can destroy it. bitcoin in my opinion is difficult to destroy because it is too strong, china alone by forbidding ico only little impact to bitcoin, now the price of bitcoin is back to normal.
bitcoin can be destroyed if their is a massive hacker's attack on the network and they start publishing the network key of all bitcoin users.
bitcoin can be destroyed if their is a massive hacker's attack on the network and they start publishing the network key of all bitcoin users.
another coin will destroy if, bitcoin die. just if.
we dont know when it will die. supply of bitcoin still much, we need loss more bitcoin to decrease it.
bitcoin too strong to be kill by other altcoin, with price comparison that can be compare
we dont know when it will die. supply of bitcoin still much, we need loss more bitcoin to decrease it.
bitcoin too strong to be kill by other altcoin, with price comparison that can be compare
1.miners can destroy bitcoin if no one mines bitcoins anymore, nobody can exchange them. Miners basically get a commission because they use their processing power to process transactions between bitcoin wallets.
So, if no one is mining anymore, which is unlikely for now, you will actually destroy the currency. Even if it is still worth something, you won't be able to exchange it, so it is like destroying it.
2.if Governments all over the world restrict the contact points with regular money and can make it very, very hard to exchange Bitcoins. Which would make it useless for transactions outside the network.
3.The third way is to send coins out of an address is to use the private key that created that address. No private key, no ability to send or verify those coins.
One could potentially “destroy” coins by sending them to an address that has no private key, or to simply send it to yourself and erase all copies of your own private key. This will result in those coins being lost in that address forever effectively destroying them.
So, if no one is mining anymore, which is unlikely for now, you will actually destroy the currency. Even if it is still worth something, you won't be able to exchange it, so it is like destroying it.
2.if Governments all over the world restrict the contact points with regular money and can make it very, very hard to exchange Bitcoins. Which would make it useless for transactions outside the network.
3.The third way is to send coins out of an address is to use the private key that created that address. No private key, no ability to send or verify those coins.
One could potentially “destroy” coins by sending them to an address that has no private key, or to simply send it to yourself and erase all copies of your own private key. This will result in those coins being lost in that address forever effectively destroying them.
Good points, in addition to this, 51% attack can also destroy bitcoin, but this is not likely to happen at the moment. A total ban can also destroy bitcoin, imagine all of the countries ban bitcoin.
This wold be horrifying for the whole blockchain and bitcoin community.
The only problem is as you destroy more and more bitcoin the price continues to rise as supply diminishes because of your destroying efforts.This will be the main issue and draw back from destroying Bitcoin, you need to have a lot of money backing your efforts.The same goes for anyone attempting to slowdown transactions or modify the blockchain thru brute force type hacking. You would need a tremendous amount of costly computing power at this point to manipulate or destroy any aspect of the bitcoin process (mining, transactions, exchange).This probably was all much more achievable in the next two years of bitcoin when value and computing power required was much, much lower
Until now no one can beat bitcoin, but if we talk in general only ETH has the potential to beat bitcoin, but I think for now ETH can not beat it.
But soon the possibility of ETH will be ranked 1
I’m 100% agreed with you, and I think doge also a very good compatible coin. But soon the possibility of ETH will be ranked 1
No one destroy bitcoin unless people don't use it anymore. No bitcoin is powerful and demand is increasing everyday. So i don't think bitcoin can be destroyed in near future.
Bitcoin is growing very powerfully but in this present scenario which factors can destroy or make its market value Zero.
If another cryptocuurency arise and more advance than bitcoin I think it can destroy bitcoin but not that no one will use bitcoin it can be decrease the amount of people who use bitcoin if they see that there is more powerful than btc it's quite ironic that because of bitcoin it can destroy itself.
The only way in which Bitcoin can be destroyed is the reduction in its demand.The demand can be reduced by two factors.One factor is if the government of all the countries declare transactions through Bitcoin as illegal then it will surely have a adverse effect on its demand. The other factor can be if some other form of cryptocurency replaces Bitcoin.The demand will be shifted and the price of Bitcoin will drop down.
Bitcoin's current value is 4200$ which is near about 10 times to the value of any other altcoin and it is still increasing at a very fast rate. So i dont think that Bitcoin can be destroyed.It is the time for Bitcoin to rise and to achieve its All Time High Value.
Bitcoin's current value is 4200$ which is near about 10 times to the value of any other altcoin and it is still increasing at a very fast rate. So i dont think that Bitcoin can be destroyed.It is the time for Bitcoin to rise and to achieve its All Time High Value.
1.miners can destroy bitcoin if no one mines bitcoins anymore, nobody can exchange them. Miners basically get a commission because they use their processing power to process transactions between bitcoin wallets.
So, if no one is mining anymore, which is unlikely for now, you will actually destroy the currency. Even if it is still worth something, you won't be able to exchange it, so it is like destroying it.
2.if Governments all over the world restrict the contact points with regular money and can make it very, very hard to exchange Bitcoins. Which would make it useless for transactions outside the network.
3.The third way is to send coins out of an address is to use the private key that created that address. No private key, no ability to send or verify those coins.
One could potentially “destroy” coins by sending them to an address that has no private key, or to simply send it to yourself and erase all copies of your own private key. This will result in those coins being lost in that address forever effectively destroying them.
So, if no one is mining anymore, which is unlikely for now, you will actually destroy the currency. Even if it is still worth something, you won't be able to exchange it, so it is like destroying it.
2.if Governments all over the world restrict the contact points with regular money and can make it very, very hard to exchange Bitcoins. Which would make it useless for transactions outside the network.
3.The third way is to send coins out of an address is to use the private key that created that address. No private key, no ability to send or verify those coins.
One could potentially “destroy” coins by sending them to an address that has no private key, or to simply send it to yourself and erase all copies of your own private key. This will result in those coins being lost in that address forever effectively destroying them.
As long as there are investors, traders and miners then bitcoin can exist and no one can destroy it. Not even China, because bitcoin has already captured popularity globally, its much more harder to destroy. Look at how bitcoin recover from all the attacks recently.So as long as we are here and put our trust on the system, but it can survived up to the last mine bitcoin. So personally, I have no doubt that no one can destroy it.
If Bitcoin someone and can destroy Bitcoin, then this is China. Although honestly, depending on how fast it grows, and the fact that China is not the only superpower in the world, I can say that Bitcoin's collapse will not happen.
It seems to me that bitcoins have become so widespread that nothing can completely destroy them. Of course, they can be undermined by a weak market situation, but they will not destroy it completely. The situation of bitcoins is constantly stabilizing, so I do not think it is possible.
Afterall Bitcoin is fully depends upon internet and it's users, So there is a chance for effecting those problems in this Bitcoin too.
For this problem there is only one solution,:-make sure that the Bitcoin app is secure ,if it's not, then try to make it super secured
For this problem there is only one solution,:-make sure that the Bitcoin app is secure ,if it's not, then try to make it super secured
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