Quote from: AnonMZ on December 24, 2013, 05:51:36 PM

Quote from: start the art on December 24, 2013, 05:03:26 PM

Quote from: jinni on December 20, 2013, 10:13:03 PM

I'm not talking about the short-term, not the medium-term, but the long-term.

What are best arguments that Bitcoin won't last?

So far I'm convinced by the pro-arguments decimating the con-arguments. But what if there are some damning arguments out there?

Please try to present them, and please present the prerequisites for why those arguments could be valid.

Bitcoin is totally dependant on electricity. EMP everything and Bitcoin is gonne. It makes no difference
if there are blockchain, private key and wallet backups (even those carved in stone make no difference),
unless there is electricity there will be no Bitcoin. I know many here will argue that electricity would be
restored at some point but question remains if that would really happen and if it does if there would be
any use for Bitcoin at that point in time.

I also understand that many here can't even imagine electricity not being available but I'll tell you that
it can happen, and it can happen very fast. I've witnessed myself how fast a normal situation can turn
into chaos, when there are issues much more important than months-long lack of electricity.

Total blackout, is a rather extreme case, yes it could happen, (EMP, CME X class, circa 1859 etc). Then, does it really matter? Any and all fiat currencies will collapse. Will the ATMs be operational?
Will the banks have access to peoples accounts? The most likely currency in such a case, would be water, food, fuel, guns, ammo, other resources, and maybe gold, silver. People would be in survival mode and instinct response.

There will be no more currency without electricity. All nuclear plants will blow its inventories into the atmosphere and people wouldn't be in survival mode, but in death mode.

We watched the tragedy unfold
We did as we were told
We bought and sold
It was the greatest show on earth
But then it was over
We ohhed and aahed
We drove our racing cars
We ate our last few jars of caviar
And somewhere out there in the stars
A keen-eyed look-out
Spied a flickering light
Our last hurrah
And when they found our shadows
Grouped around the TV sets
They ran down every lead
They repeated every test
They checked out all the data on their lists
And then the alien anthropologists
Admitted they were still perplexed
But on eliminating every other reason
For our sad demise
They logged the only explanation left
This species has amused itself to death
No tears to cry no feelings left
This species has amused itself to death

http://www.lyricsdepot.com/roger-waters/amused-to-death.html