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Bitcoin’s Final Obituary?

bitcoin Obituary

2017 marks the eighth anniversary of bitcoin. Although it has dominated the media for years, it’s still too young to be a hot potato compared with gold, stock and fund. And it seems that bitcoin is having the hardest time suffering external and internal troubles. By internal, I mean the hard fork debate and by external, altcoins’ rising market cap. In this light, some experts are claiming that if bitcoin hardforks, it would be dethroned by altcoins or even die.

As a matter of fact, it’s not the first time that bitcoin have been rumored to be destroyed.

Bitcoin price plummeted by 50 percent at the end of 2013 after the collapse of its biggest online exchange Mt Gox. Back then, bitcoin obituaries were all over the Internet. Earlier this year, the price of bitcoin abruptly fell from $1,161 to $889 as People’s Bank of China (PBoC) was stepping up its efforts to regulate the market. And when Chinese bitcoin exchanges have disabled withdrawals of the cryptocurrency, people gathering at forums keep asking if bitcoin is doomed. But bitcoin just refuses to die this way and it has showed the world its resilience. And obviously, what doesn’t kill bitcoin makes it stronger.

Over the past several weeks, as everyone in the community wondering if BU would be activated, bitcoin is unavoidably said to die again. Will a hard fork sentence bitcoin to death? Who knows? But Ethreum’s hardfork may provide some indication here.

Last summer, when Ethereum split into two development groups ETH and ETC, the price of ETH increased from$13 to$16 within three days and now $40. Plus, its original chain is not dead. Though a bitcoin hardfork might be slightly different, I have every reason to believe that it would be easier for BTC and BTU to co-exist.

Anyway, no one knows when exactly will bitcoin hard fork. No one knows which path would miners choose. But I am convinced that this is just one of the many challenges bitcoin must deal with to change the world for better. It’s just like for so many years, some people still argue that bitcoin is not a currency. They believe bitcoin is all imaginary. They cannot hold it in their hands like they do with USD or CNY. They cannot touch it, so they simply couldn’t trust it. To those people, let me ask you this question: Isn’t literature and poetry imaginary? Can you touch them? No, you can’t. Can you touch love or friendship? No, you can’t. How come you believe in those things when you think bitcoin is a sheer joke? Isn’t kind of narrow-minded to think that virtual things or a concept don’t have value?

 

COMMENTS(28)

  • BitcoinAllBot
    6 months ago BitcoinAllBot

    Here is the link to the original comment thread. Or you can comment here to start a discussion. Author: 8btccom

  • ErdoganTalk
    6 months ago ErdoganTalk

    Lol not! We will have a steady stream of obituaries all the way until the hyperbitcoinization.

  • Qartada
    6 months ago Qartada

    Everyone’s always going to say that Bitcoin’s death is imminent (and they always have).  This time, maybe there is a bit more weight behind the claim.Even if Ethereum or other cryptocurrencies / blockchains became more popular, Bitcoin would still exist, it would just be a kind of old news nostalgia thing that’s always a tad behind (like Nintendo).

  • BitcoinHodler
    6 months ago BitcoinHodler

    there is no “final obituary” at least not in our lifetime.there will be lots of doofuses! who come along and want their name be written in the history and they are successful at that. their name will always be written in history as a clown. here is the list that grows every year: https://99bitcoins.com/bitcoinobituaries/

  • Dimelord
    6 months ago Dimelord

    Quote from: Doofus on March 29, 2017, 10:10:56 AM
    Mom often says that:Nothing is immortal, just live in the moment. If this is true, what would be bitcoin’s final death?   (i don’t wanna see it happen, but let’s be honest, ever since bitcoin was born, it has been rumored to die.At least 100 times)
    From the day Mt.Gox collapsed,Bitcoin orbituaries were found all over the internet.Since the hark fork issue,bitcoin’s orbituary debate has once again started.But bitcoin has survived all critical attacks and it is yet to survive.Some say if quantum computing comes,bitcoin wouldnot survive.Lets hope the best.Hope necessary developments would be made before that.

  • Schuyler
    6 months ago Schuyler

    Quote from: Doofus on March 29, 2017, 10:10:56 AM
    Mom often says that:Nothing is immortal, just live in the moment. If this is true, what would be bitcoin’s final death?   (i don’t wanna see it happen, but let’s be honest, ever since bitcoin was born, it has been rumored to die.At least 100 times)

    Maybe I can say that the final obituary of bitcoin is when the internet lost and totally have no access with the internet.Today I think bitcoin will stay long  because of the trust of people  and many users. But if you really come to the point that no one would recognize bitcoin that really the end of bitcoin.

  • asdalani
    6 months ago asdalani

    Bitcoin could finally finish when the whole Internet goes down and there is nobody interested in going online anymore. A major war could break through causing most of the guys trying to survive and not get killed off because of what they have. Protecting their families and friends could start to seem important to some guys and hanging out on the internet wouldn’t seem like a must-do like it is right now. Bitcoin wouldn’t have any use.

  • jtipt
    6 months ago jtipt

    Quote from: Doofus on March 29, 2017, 10:10:56 AM
    Mom often says that:Nothing is immortal, just live in the moment. If this is true, what would be bitcoin’s final death?   (i don’t wanna see it happen, but let’s be honest, ever since bitcoin was born, it has been rumored to die.At least 100 times)
    The supposed death of bitcoin is just meant when bitcoin probably becomes worthless, and no one uses it anymore, in reality, bitcoin can never cease to exist it will exist, and some people might just use for sentimental value. So there never really will be a final obituary, but there are some interesting obituaries on the site linked by BitcoinHolder.

  • favours
    6 months ago favours

    Bitcoin is dead, time for Ethereum to take over… For two weeks until ETH dumps

  • franky1
    6 months ago franky1

    final obituary will read:bitcoin passed on its love and desire to its sidechain siblings, staying in their chained hearts forever.though bitcoin locks are always there with us, we must remember that life goes on and although node users will not feel or touch bitcoin ever again,there will always have a memory of their bitcoin LTXO.

  • Xester
    6 months ago Xester

    Quote from: Doofus on March 29, 2017, 10:10:56 AM
    Mom often says that:Nothing is immortal, just live in the moment. If this is true, what would be bitcoin’s final death?   (i don’t wanna see it happen, but let’s be honest, ever since bitcoin was born, it has been rumored to die.At least 100 times)

    Bitcoin will not die but what will die is its value when the time comes. But at this point of time it is not possible and even in the face of internal and crucial issues it is not time for bitcoin to say goodbye yet. Bitcoin will surely reach 100 million dollars before it will die and will be replaced by the new generation of digital currency.

  • paul gatt
    6 months ago paul gatt

    There are so many rumors like that before, and all of them are untrue, people just overdo the seriousness of the problem, bitcoin still exists and continues to evolve, recent times are clear evidence. Most of that. Bitcoin has existed for a long time, without any reason for it to collapse, the heads are very talented, they have the talent and bravery to hold the bitcoin, BU appears to be a turn of the Greedy miners, but it’s not a problem, it’s not capable to do bitcoin crash, i’m sure.

  • Jogibear
    6 months ago Jogibear

    All these Scam Exchanges that currently exist without any oversight …Great freedom Yeha freedom to steal with no punishment

  • Jogibear
    6 months ago Jogibear

    Bitcoin will die .. Or rather as  stated the value will Die the blockchain will last aslong as there is electricity and global internet available

  • Nathan047
    6 months ago Nathan047

    Quote from: Doofus on March 29, 2017, 10:10:56 AM
    Mom often says that:Nothing is immortal, just live in the moment. If this is true, what would be bitcoin’s final death?   (i don’t wanna see it happen, but let’s be honest, ever since bitcoin was born, it has been rumored to die.At least 100 times)
    It’s kind of hard for Bitcoin to totally die thanks to the blockchain being decentralized, however it could lose a lot of it’s value. I guess we’ll see where it goes, although I expect (and hope) it will do well.Also, there will always be FUDs claiming it will die. Lets just hope they are wrong

  • Jet Cash
    6 months ago Jet Cash

    Well the earth isn’t dead yet, despite the politicians efforts. So I suspect that it’s got a few years of life left in it.The obituary – O-bit-u-ar-y – “Y” is the Satanic elite symbol for “forked”.

  • Kprawn
    6 months ago Kprawn

    The Final obituary will read – “Here lies the invention of Satoshi Nakamoto, something that was given to the world to make it a better place, but killed by greedy miners and power hungry devs. It fought many battles against foul unknown enemies, using VERnians as cannon fodder. The experiment that sparked a revolution in the Financial world, has finally been laid to rest. RIP Bitcoin. 

  • Juggy777
    6 months ago Juggy777

    Nope it’s not going to happen, all this is believed by people who think they can launch segwit and bu and get away with it. The community will dump them and then they can only cry with their worthless coins. As far Bitcoin is concerned, it was strong back then, it is strong now also. This are just tough times and the clouds of uncertainty shall pass and Bitcoin shall stand strong as usual while all others would have been gone and forgotten. That’s what going to happen

  • Jogibear
    6 months ago Jogibear

    Sad and I hope not true but the way its going currently is absurd and cannot last. I will make sure of that  it is currently my lifes work and will not end  until somebody sends somebody to  come Here to Africa and killing Me.So yeah over My dead body is the only way that the Rubbish I see in Some sectors of the Crypto community will continue

  • Jogibear
    6 months ago Jogibear

    Im not toring My ip and Im sure You can all see Me Email and so can easily find Me.So if I am the first person killed over crypto so be it ..But I do not have a death wish despite the fact that im standing up to Goliath.We are legion 

  • Ayers
    6 months ago Ayers

    this thing can’t die because you can fork and fork always if something bad happen, you can create a new bitcoin from scratch over and over again, all the altcoin are bitcoin itself, a copy with different idea, aren’t they? for me bitcoin is truly immortal and unkillable

  • European Central Bank
    6 months ago European Central Bank

    Lots of top quality noob doom recently. Great job, guys. If you stick to one established account then it might have more impact.

  • Doofus
    6 months ago Doofus

    Quote from: franky1 on March 29, 2017, 12:57:19 PM
    final obituary will read:bitcoin passed on its love and desire to its sidechain siblings, staying in their chained hearts forever.though bitcoin locks are always there with us, we must remember that life goes on and although node users will not feel or touch bitcoin ever again,there will always have a memory of their bitcoin LTXO.
    Jesus! do you seriously mean it? you sure a hard fork is imminent?

  • franky1
    6 months ago franky1

    Quote from: Doofus on March 30, 2017, 01:41:47 AM

    Quote from: franky1 on March 29, 2017, 12:57:19 PM
    final obituary will read:bitcoin passed on its love and desire to its sidechain siblings, staying in their chained hearts forever.though bitcoin locks are always there with us, we must remember that life goes on and although node users will not feel or touch bitcoin ever again,there will always have a memory of their bitcoin LTXO.
    Jesus! do you seriously mean it? you sure a hard fork is imminent?

    all the dynamic and diverse nodes want consensus of one single network of diverse peers.core have the ban hammers. the plans to change the network into a tier network and cause the actual forks win or lose.AND to make sidechains(altcoins) and LN(offchain networks)..even if core become moral again by getting rid of blockstream puppet masters.. and just add a few lines of code to be on the same level playing field as the other peers. and (yep they get cake) they get to have segwit too(should they want that half gesture empty promise).. meaning a community win win.. but down the road there will beLightning NETWORKSsidechain NETWORKSemphasis on the word network. so yes people will be spending funds on alternate networks.. but all triggered by cores intentions of what they think is best. and the fools who follow core all the way no matter what

  • Hydrogen
    6 months ago Hydrogen

    “Good things die, when people make bad decisions & support the wrong things.”In politics and economics, its common for people to blame politicians.People forget they supported things like the iraq war & obamacare.Evil in the world is caused by normal people making bad decisions in supporting bad policy.I don’t think bitcoin will be any different in that regard.

  • izanagi narukami
    6 months ago izanagi narukami

    If bitcoin keep exist with same as current demand than bitcoin become more valuable on the future ( halving )As long as bitcoin have their investor, bitcoin will never end. Ofcourse I can know for sure since bitcoin is unique currency so it will unique way to die

  • Doofus
    6 months ago Doofus

    Quote from: Ayers on March 29, 2017, 03:40:31 PM
    this thing can’t die because you can fork and fork always if something bad happen, you can create a new bitcoin from scratch over and over again, all the altcoin are bitcoin itself, a copy with different idea, aren’t they? for me bitcoin is truly immortal and unkillable
    so basically, you mean bitcoin is just a concept, or more accurately, a spirit? But i don’t think all altcoins are bitcoin itself. when bitcoin was first born, it’s more of an experiment instead of a means of making money. now most people buy altcoin just dreaming of getting rich.

  • Doofus
    6 months ago Doofus

    Mom often says that:Nothing is immortal, just live in the moment. If this is true, what would be bitcoin’s final death?   (i don’t wanna see it happen, but let’s be honest, ever since bitcoin was born, it has been rumored to die.)news says at least 100 times! http://news.8btc.com/bitcoins-final-obituary

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