Quote from: alexxz_94 on January 08, 2017, 12:43:13 PM

Quote from: Blitzboy on January 08, 2017, 11:34:36 AM

Quote from: iqlimasyadiqa on January 08, 2017, 11:14:32 AM

I think there will be chaos in the world. especially in the economic system. will be many countries that have experienced losses and too many people will miss a lot of money. This is a nightmare and hopefully bitcoin will still be there.

Yeah that's right, if bitcoin suddenly disappeared from this world, then there would be massive chaos and bitcoin users would loose balance for a while, maybe fall into a stage of madness and there would be many other consequences. But I think if bitcoin were on its downfall and there were many other cryptocurrencies willing to replace bitcoin, the result would be somehow less severe. Just my opinion Grin

There wouldn't be "massive chaos", we're under 20.000.000 users I think and that wouldn't provoke chaos at all. Bitcoin fell to under $250 not long ago and that didn't cause chaos around the world. The price could've gone even under $100 and still we'd see no change. Bitcoin dying tomorrow would not mean much for any economy, only the businesses working with it would possibly also fail and the governments would have a great day. However, the big thing is that this will probably cause a domino effect: with Bitcoin's fall, I think all the other Altcoins will follow its steps

That would largely depend on the exact cause behind Bitcoin collapse

Say, we have a quantum-computing breakthrough (most likely it has already been made, though we just don't know about that yet), the SHA256 hashing algorithm which is used in Bitcoin mining gets successfully attacked and Bitcoin becomes utterly useless. Does it mean that other altcoins will follow Bitcoin into the grave? Not necessarily. Those altcoins that have already taken into account the possible effects of quantum computing on cryptography and developed in advance cryptographic methods resistant to quantum computing will certainly survive and may in fact even get a huge boost thanks to the demise of Bitcoin