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    Author Topic: what would you think if blockchain collapse ?  (Read 1600 times)

    • MantoXie (OP)
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    April 22, 2016, 01:34:49 PM
    Last edit: April 22, 2016, 01:46:02 PM by MantoXie
     #1
    i read so many topic about "what would you do if bitcoin disappear" or "what would you do if bitcoin die" etc , but do you think what will happen if blockchain collapse ? example like the previous bank L*b*rt* Reserve, will bitcoin rate drop ? or will raise because bitcoin rarity ? what do you think ??  Huh Huh  and what next step ? using xapo or what web will be your bitcoin wallet ? i just curious what next step the member in here will do ,,

  • ebliever
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    April 22, 2016, 01:39:13 PM
     #2
    I think you are not asking a coherent question.
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  • shorena
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    April 24, 2016, 10:38:10 AM
     #3
    Quote from: MantoXie on April 22, 2016, 01:34:49 PM
    i read so many topic about "what would you do if bitcoin disappear" or "what would you do if bitcoin die" etc , but do you think what will happen if blockchain collapse ?

    What do you mean by "blockchain collapse", the blockchain is stored on at least 10000 different systems around the world.

    Quote from: MantoXie on April 22, 2016, 01:34:49 PM
    example like the previous bank L*b*rt* Reserve, will bitcoin rate drop ? or will raise because bitcoin rarity ? what do you think ??  Huh Huh  and what next step ? using xapo or what web will be your bitcoin wallet ? i just curious what next step the member in here will do ,,

    I think you confuse blockchain.info with the blockchain. One is a service and the other is not.
    Im not really here, its just your imagination.

  • Capitascism
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    April 24, 2016, 12:13:19 PM
     #4
    They maybe think about recent problems with unconfirmed transactions..?
    But this is not failure, or bug or something. This will be fixed with enlarging of block size.

    But bitcoin can face different problems, from hackings of main exchanges, to loosing of trust in it.
    Also bitcoin can become obsolete one day, competition will become better over time.
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  • iram66680
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    April 24, 2016, 12:24:45 PM
     #5
    Quote from: Capitascism on April 24, 2016, 12:13:19 PM
    They maybe think about recent problems with unconfirmed transactions..?
    But this is not failure, or bug or something. This will be fixed with enlarging of block size.

    But bitcoin can face different problems, from hackings of main exchanges, to loosing of trust in it.
    Also bitcoin can become obsolete one day, competition will become better over time.
    This I would agree with you on. As emerging markets come and go bitcoin can be replaced. But the blockchain will always remain the same. It is the backbone of bitcoin afterall. Without it there would be no bitcoin.
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  • Vaskiy
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    April 24, 2016, 02:30:35 PM
     #6
    Quote from: iram66680 on April 24, 2016, 12:24:45 PM
    Quote from: Capitascism on April 24, 2016, 12:13:19 PM
    They maybe think about recent problems with unconfirmed transactions..?
    But this is not failure, or bug or something. This will be fixed with enlarging of block size.

    But bitcoin can face different problems, from hackings of main exchanges, to loosing of trust in it.
    Also bitcoin can become obsolete one day, competition will become better over time.
    This I would agree with you on. As emerging markets come and go bitcoin can be replaced. But the blockchain will always remain the same. It is the backbone of bitcoin afterall. Without it there would be no bitcoin.
    My suggestion is that bitcoin will be popular as it grows, but there can also a chance that it's fame gets reduces if price decreases, anything can happen but still blockchain will be there as it is used in other applications too.

  • Capitascism
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    April 29, 2016, 01:44:20 PM
     #7
    Also we can expect something completely new that can cast shadow on bitcoin and other coins..This is harsh reality, early adopters have greater chances to get rich, so  this bitcoin story influence on everything..And here it goes, greed is unleashed.
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  • daringdiscovered
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    May 27, 2016, 12:56:19 PM
     #8
    I think if blockchain will collapse it will be the end of bitcoin transactions.Because all bitcoin transactions is going under blockchain and being confirmed by blockchain.If blockchain will be down who will confirm our transfer? How can the users receive it without any confirmations from block chain.Thats what im thinking.

  • wuvdoll
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    May 28, 2016, 04:20:45 PM
     #9
    Quote from: MantoXie on April 22, 2016, 01:34:49 PM
    i read so many topic about "what would you do if bitcoin disappear" or "what would you do if bitcoin die" etc , but do you think what will happen if blockchain collapse ? example like the previous bank L*b*rt* Reserve, will bitcoin rate drop ? or will raise because bitcoin rarity ? what do you think ??  Huh Huh  and what next step ? using xapo or what web will be your bitcoin wallet ? i just curious what next step the member in here will do ,,
    Okay. Help me out with your own question. What "blockchain" are we talking about here? Are we talking about the blockchain as in where all transactions are recorded, or are we talking about blockchain.info which is an online wallet? Basing from what you've written, your use of "blockchain" leans more to the blockchain.info wallet.
    If that's so, then I'll do probably my daily routine? As I'm not directly related because I don't use it.

  • Kprawn
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    May 28, 2016, 09:06:21 PM
     #10
    The Bitcoin price climb, and the one post wonder shill posters increase. This is pure fud being posted to create confusion.. not to be taken seriously at all. The Blockchain is most probably the biggest

    decentralize network on this planet... It will take massive resources and groups to take it down, and even if they manage to do this, it will still go on as normal, once new nodes goes into operation.

    There is nothing that can shutdown Bitcoin completely... it's simply too big and too decentralized.  Grin
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  • MWesterweele
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    May 30, 2016, 06:11:43 AM
     #11
    I think that will be the end of bitcoin.Because all transactions are undergoing to blockchain and being confirmed by blockchain.If blockchain will be gone no transactions will be  confirmed and all people wont be able to receive and send bitcoins.But if blockchain will be gone i think bitcoin network will create a new transaction processor again for the bitcoin to be still alive.
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  • TastyChillySauce00
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    May 30, 2016, 06:16:33 AM
     #12
    i'm sure the blockchain you're asking about is an online wallet called blockchain.info not blockchain system because you're mentioning another online wallet like xapo,if blockchain collapse ,online bitcoin wallet will lost because none of bitcoin can be transacted
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  • ObscureBean
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    May 30, 2016, 06:34:23 AM
     #13
    Well everyone running Bitcoin Core has a complete copy of the blockchain so there is very little risk of data loss. If by "blockchain collapse" you mean no internet anywhere then sure Bitcoin would be worthless because no one would be able to use it.

  • Kakmakr
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    May 30, 2016, 07:02:59 AM
     #14
    You cannot compare a centralized currency like L*b*rt* Reserve that can be targeted by governments and also stopped by them, with Bitcoin that is totally decentralized. The Blockchain will not be brought down, because it's running on 1000's of computers all over the world. < Like a p2p network >
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  • Lauda
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    May 30, 2016, 07:50:18 AM
     #15
    Quote from: Capitascism on April 29, 2016, 01:44:20 PM
    Also we can expect something completely new that can cast shadow on bitcoin and other coins..
    Nonsense.

    Quote from: daringdiscovered on May 27, 2016, 12:56:19 PM
    I think if blockchain will collapse it will be the end of bitcoin transactions.Because all bitcoin transactions is going under blockchain and being confirmed by blockchain.If blockchain will be down who will confirm our transfer? How can the users receive it without any confirmations from block chain.Thats what im thinking.
    It's obvious that you're lacking the relevant knowledge. The blockchain can not simply "collapse" (the word is also very wrong).

    Quote from: Kprawn on May 28, 2016, 09:06:21 PM
    The Bitcoin price climb, and the one post wonder shill posters increase. This is pure fud being posted to create confusion.. not to be taken seriously at all.
    It doesn't surprise me anymore.

    Quote from: ObscureBean on May 30, 2016, 06:34:23 AM
    If by "blockchain collapse" you mean no internet anywhere then sure Bitcoin would be worthless because no one would be able to use it.
    That's just one of the possible scenarios, but things like Bitcoin would not matter much in the times of total catastrophe.
    "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
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  • anticent
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    May 30, 2016, 07:56:15 AM
     #16
    Bitcoin may be around for a while but will eventually come down in the future.

  • ObscureBean
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    May 30, 2016, 08:08:49 AM
     #17
    Quote from: Lauda on May 30, 2016, 07:50:18 AM

    That's just one of the possible scenarios, but things like Bitcoin would not matter much in the times of total catastrophe.

    "No internet anywhere" does not necessarily equate to "total catastrophe". Granted it might be difficult at first but if everything else is working, life should get back to normal fairly quickly, after all we've survived without internet for the past 10,000 years  Tongue
    We would just go back to good old paper money.

  • StoreBit
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    May 30, 2016, 08:39:03 AM
     #18
    I hope it will not do so. and if it happened I think every thing will finished then, i think the people will renain stuck and nothing will reain behid. the peo;e will lost their confident and they will show no interest in bitcoin any more.

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    May 30, 2016, 10:39:32 AM
     #19
    Quote from: anticent on May 30, 2016, 07:56:15 AM
    Bitcoin may be around for a while but will eventually come down in the future.
    You can't know the future of Bitcoin. You could say that for practically anything.

    Quote from: ObscureBean on May 30, 2016, 08:08:49 AM
    "No internet anywhere" does not necessarily equate to "total catastrophe". Granted it might be difficult at first but if everything else is working, life should get back to normal fairly quickly, after all we've survived without internet for the past 10,000 years  Tongue
    I was thinking more in the lines of an event required to 'kill' the internet around the globe. It would require something catastrophic. However, just imagine the panic if everything went dark in the same second.

    Quote from: ObscureBean on May 30, 2016, 08:08:49 AM
    We would just go back to good old paper money.
    Paper money is the only reliable method after Bitcoin. Credit cards are not really reliable (e.g. I've just witnessed a traveler's CC failing at a shop and they had to return a few items due to not having enough cash). This can not be the case with Bitcoin (unless the merchant is using a 3rd party service and something is wrong with it).

    Quote from: StoreBit on May 30, 2016, 08:39:03 AM
    -snip-
    There's this great book that you should read.
    "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
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  • mrblockchain
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    July 20, 2016, 05:06:31 PM
     #20
    Blockchain is designed so it's hard for it "collapse." I guess anything is possible though if someone was trying hard enough.
    Blockchain.link for sale.

    https://bt.irlbtc.com/view/1981988
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