Post
Topic
Board Bitcoin Discussion
Re: In what situation would Bitcoin die?
by
Wandering Soul~
on 20/04/2017, 08:42:05 UTC
There are only two possibilities in which bitcoin can die.

Either people stop using it or there comes some new currency which is better then bitcoins and if that happens then I think bitcoin can disappear in quick time but as of now I think everything is fine with bitcoins.

Very smart, directly to the point. Only these two possibilities could make bitcoin die. But there are infinity causes to reach to these two possibilities, like persons trying to sabotage bitcoin, it's the worse and most dangerous possible cause to the bitcoin failure.
And there are many others causes, we need to be aware about everything to protect bitcoin against threats.
There are more possibilities for example the disappearance of some of the networks bitcoin depends, bitcoins depends on the electric network and also on the internet, so if one of those were to disappear then bitcoin will most likely disappear since there will not be a way to run bitcoin.
but i do not think that such situation can even happen. because we are not only depending on these things for bitcoin but we are depending on these thing for so many other important issues, as if electricity or internet will down it will effect our life for so many other aspect.
It can happen, it is not very likely to happen but that does not mean it is impossible, but as you said if such networks disappeared then the disappearance of bitcoin will not be such a great deal since we will probably need to worry about food and water at that point.

With the users all over the world uaing bitcoin, I think it is now unstoppable. The users are increasing especially they are now accepted in Japan. And networks will not go anywhere, do you think companies or even governments will not a make a solution to fix the network if it falls? Even the electricity? Nowadays they are essential to our lives, they are even needed for our jobs.

It is definitely unstoppable NOW but we don't know if it will continue that way in the next years . Electricity and internet are not really going to be a problem as the entire population depends on it . What we have to worry is decreasing bitcoin users causing a big price decrease . In most cases I think that bitcoin will survive if the above statements will occur although we shouldn't expect the price to go to the moon, it will be lower than expected .