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Topic: Who can destroy Bitcoin ? - page 61. (Read 21748 times)

sr. member
Activity: 434
Merit: 255
September 20, 2017, 08:35:16 AM
Bitcoin is growing very powerfully but in this present scenario which factors can destroy or make its market value Zero.

i think theres no factors can destroy bitcoin, because most of people now are getting/they want to involve in bitcoin by investing their money on it. they can earn more profits day by day from bitcoin. so why do they want to destroy it if those profits that they can earn in bitcoin is more than what they can earn on their own job.
It seems to me that you are not right. The people themselves destroy bitcoins. who said that bitcoin is an investment project? This is the currency. We see limited turnover of bitcoin. This is bad for any currency. Saving your coins we pumped the bitcoin speculative money and build him a pyramid. It can overwhelm us with its wreckage.
full member
Activity: 630
Merit: 102
September 20, 2017, 08:27:09 AM
no one can destroy bitcoin. it is now bitcoin. buyer more many again. the results are also many  imagine no one can destroy. all society already bewieve that olien in bitcoin forum more appropriate for you all.
full member
Activity: 434
Merit: 100
September 20, 2017, 07:44:49 AM
Bitcoin is growing very powerfully but in this present scenario which factors can destroy or make its market value Zero.

i think theres no factors can destroy bitcoin, because most of people now are getting/they want to involve in bitcoin by investing their money on it. they can earn more profits day by day from bitcoin. so why do they want to destroy it if those profits that they can earn in bitcoin is more than what they can earn on their own job.
hero member
Activity: 672
Merit: 500
September 20, 2017, 07:39:52 AM
which can destroy bitcoin is the market and enthusiast, when there is no longer interested in bitcoin then the price will slowly begin to fall and may die, and the market plays a big role in this, when the market is not willing to accept the existence of bitcoin and no longer people who want to trade bitcoin ,, this could also result in dead bitcoin.
sr. member
Activity: 2254
Merit: 258
September 20, 2017, 07:35:57 AM
successful cryptanalitic attack on private keys, excessive mining monopoly, global internet shutdown (possibly), massive loss of interest.

I agree with all of this, but Bitcoin cannot be destroyed by fake news alone coming from a so-called powerful personality or country it's just add to the list of Bitcoin's obituaries which is already a very long list.
sr. member
Activity: 434
Merit: 252
September 20, 2017, 07:29:28 AM
Governments or any strong crypto
yes it is, look at what happened on china, they banned bitcoin because they think crowdfunding is illegal in their country. no little person was able to counter the decision of their government, even they have a lot of bitcoin holdings. they cant do anything about it.
the government has a big role in the destruction of bitcoin, I think it is in china government that plays a major role in the termination and prohibition of any project related to cryptocurrency.
full member
Activity: 448
Merit: 102
Binance #Smart World Global Token
September 20, 2017, 07:15:57 AM
Governments or any strong crypto
yes it is, look at what happened on china, they banned bitcoin because they think crowdfunding is illegal in their country. no little person was able to counter the decision of their government, even they have a lot of bitcoin holdings. they cant do anything about it.
full member
Activity: 616
Merit: 102
September 20, 2017, 07:05:43 AM
Bitcoin is growing very powerfully but in this present scenario which factors can destroy or make its market value Zero.

Bitcoin is very famous today and its hard to imagined that it will be destroy. I belived that bitcoin will not be destroy not even a country. Like for example when china release a news that they banned bitcoin. It just create panic but now the price of bitcoins already recovering. During the panic the price reached $3000 and now it on the range of $3800-4000.
sr. member
Activity: 714
Merit: 250
September 20, 2017, 06:47:03 AM
Bitcoin is growing very powerfully but in this present scenario which factors can destroy or make its market value Zero.
nothing can destroy bitcoin! Because bitcoin designed not to depend on anyone, or whatever it is. I mean, bitcoin will continue to exist for as long as it takes.
Bitcoin has become growing its users daily. It can destroy by users if continuing selling bitcoin that value become zero and no support from the community. In line with this, bitcoin nowadays will continue to grow and value is keep increasing.
legendary
Activity: 1288
Merit: 1043
:^)
September 20, 2017, 06:27:23 AM
Bitcoin is growing very powerfully but in this present scenario which factors can destroy or make its market value Zero.
I think the only factors that can destroy or make the value of bitcoin become zero is the scammer. Bitcoin will become safe as long as there is no scammer that can create a bad image of bitcoin. A good image of bitcoin can attract users to use bitcoin because the factor that makes the bitcoin increase its price that is because of people who continually use it.
i wholeheartedly disagree, there have been plenty of major scams in the past, and plenty of ongoing ones as well. naturally, there will also be a plethora of both attempted and successful scams in the future. in addition, a handful of these scams do make it to gain mainstream media attention, i remember seeing some coverage of bitcoin pyramid schemes somewhere a year or two ago somewhere, not going to find it right now, but im pretty sure a google search would turn up this and plenty more. in addition, you can just browse the scam accusations section of the forum for plenty of successful scams that took place on this forum. point im trying to make, scams have plagued the bitcoin community since its inception, and it's not going to stop, but it hasn't had an affect anywhere close to destroying bitcoin.
newbie
Activity: 20
Merit: 0
September 20, 2017, 06:17:12 AM
Looks like no-one is understanding your question.

The direct answer to your question, is yes, you can “destroy” bitcoin but not in the traditional sense.

The blockchain holds a record of the coins that get sent in and out of an address. The only way 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.

Though technically speaking, there’s no real way to confirm that you’ve deleted all copies of a private key.
member
Activity: 548
Merit: 12
September 20, 2017, 06:12:54 AM
Bitcoin is growing very powerfully but in this present scenario which factors can destroy or make its market value Zero.
nothing can destroy bitcoin! Because bitcoin designed not to depend on anyone, or whatever it is. I mean, bitcoin will continue to exist for as long as it takes.
jr. member
Activity: 57
Merit: 10
September 20, 2017, 06:10:26 AM
Governments or any strong crypto
full member
Activity: 1050
Merit: 109
1xBit.. recovered their reputation
September 20, 2017, 06:07:30 AM
i think , only the man who can shut down internet can make Bitcoin die , whether he is an anonymous or a very nasty hacker, hopefully it never happened ..
legendary
Activity: 1288
Merit: 1043
:^)
September 20, 2017, 06:02:23 AM
successful cryptanalitic attack on private keys, excessive mining monopoly, global internet shutdown (possibly), massive loss of interest.
Hell Yeah you are right that  a great hacker that has a capability and skills can kill Bitcoin at all.Global internet shutdown for me is the major factor that can formally and the one that can make the Bitcoin fall down in permanent and put it into history.
i dont think any single 'great hacker' is going to be able to destroy bitcoin singlehandedly; the power of bitcoin lies in its users and their belief in the system, for any single individual to shut that down all down, which would have to involve the security in the blockchain system, access to bitcoin, and usability of bitcoin, would take something beyond a miracle in my eyes. but then again, i've no doubt that even if all this were managed to be destroyed, there would be more than a handful of die hard believers that would keep it going, maybe even implement changes that would cause a revival of bitcoin or something.

I was just going to say the same thing, I don't think it is possible to destroy bitcoin because of the amount of users it has and the amount of investment involved.
the amount of money in the system doesn't really change things; sure, it might influence people to act in order to protect their holdings, but maybe it might cause them to panic dump in order to salvage what the can. that aside, there is no such thing as 'too big to fail,' if anything, the more money put into the system, the bigger the bubble if the system does balloon to that extent without adequate backing.
full member
Activity: 364
Merit: 100
September 20, 2017, 05:58:16 AM
Bitcoin is growing very powerfully but in this present scenario which factors can destroy or make its market value Zero.
I think the only factors that can destroy or make the value of bitcoin become zero is the scammer. Bitcoin will become safe as long as there is no scammer that can create a bad image of bitcoin. A good image of bitcoin can attract users to use bitcoin because the factor that makes the bitcoin increase its price that is because of people who continually use it.
hero member
Activity: 966
Merit: 515
One of the world's leading Bitcoin-powered casinos
September 20, 2017, 05:50:57 AM
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 destroy because it is not available for anyone to make entry in the algorithm and make change .
Here in my opinion the bitcoin is that thing which is totally uncrackable  because after the owner of the bitcoin , no one has the trace that from where it is operating .
People knows about the mining and supporting to make money also but the actual hosting data is where? No one knows and i think it will lasts for long run until the hosting server will exists .
But here my total whole understanding is saying that the data of blockchain is saving per second in multiple servers , so there is no chance of down going the network .
So conclusion is saying that it is impossible to destroy the bitcoin , atleast for 100 years it will exists easily because i am not seeing anything which is against the bitcoin future and facing any technical problem .
sr. member
Activity: 423
Merit: 250
September 19, 2017, 06:25:16 PM
I do not know exactly who can destroy bitcoin? maybe 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 is a form of crypto-currency in which most of people rely on it in terms of transactions. So it doesn't matter how it would take on every transaction that is basically unmanageable because bitcoin is aligned to the development  where every transaction is anonymous.
sr. member
Activity: 979
Merit: 258
September 19, 2017, 06:11:34 PM
Bitcoin itself can't be destroyed at this point in time I guess.
But it's value can be destroyed, if only the regulations become bad enough.
no one can destroy bitcoin, bitcoin itself cannot destroy because the bitcoin has a strong support in the market, it cannot be easily for them to pull down bitcoins they cannot do it, thats why people are still trusting bitcoin with all their hearts and they easily using it too. many investors are still investing thats good it makes bitcoin stronger.
full member
Activity: 490
Merit: 136
September 19, 2017, 04:46:33 PM
I was just going to say the same thing, I don't think it is possible to destroy bitcoin because of the amount of users it has and the amount of investment involved.
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