Bitcoin can be killed by means other than technological.
For example it can be outlawed. Sure, people would still be able to use it, but they would be breaking the law and that would deter many, possibly enough to kill it outright.
Bitcoin does not need to be killed because it’s dead already: proved to be useless for all practical purposes, now used mostly for money laundering or other criminal activities
That's an interesting claim, all the time regular banknotes and coins offer way better alternatives for doing just that (e.g. money laundering and black market transactions), due to their much better relative untraceability as compared to just about all cryptocurrencies, and even so-called privacy coins.
The only thing cryptocurrency has clearly got going for it, is in relative better ease of use, and better security, as compared to coins and banknotes, especially when it comes to international transactions.
It's troublesome to move a literal ton of cash from A to B, while moving a virtual ton of cryptocurrency isn't. The cost and risk of moving said ton of cash from A to B, is also staggering compared to the relative security and ease of movement offered by cryptocurrencies.
Best of all, cryptocurrency just about removes the need to have a bank as a third party when both storing and moving your valuables. Thus it's a much bigger problem for banks, than governments. Remember, taxation still existed in a time when no valuables were traceable. So that fact that some cryptocurrencies are claimed to be untracable, doesn't really matter much to the state.
Money laundering and other criminal activities are a very profitable businesses that power an important sector of economy. If Bitcoin enables or facilitates them, it is far from what I would call useless.
Also: it will not be outlawed everywhere, some country will jump on the opportunity. So you earn bitcoins in one place, legalize then in another one, where it is legal. It's not so easy to prevent this, I'd even call an attempt futile.
mamon|6 years ago
wolco|6 years ago
Criminals use other less tracable coins.
kebman|6 years ago
The only thing cryptocurrency has clearly got going for it, is in relative better ease of use, and better security, as compared to coins and banknotes, especially when it comes to international transactions.
It's troublesome to move a literal ton of cash from A to B, while moving a virtual ton of cryptocurrency isn't. The cost and risk of moving said ton of cash from A to B, is also staggering compared to the relative security and ease of movement offered by cryptocurrencies.
Best of all, cryptocurrency just about removes the need to have a bank as a third party when both storing and moving your valuables. Thus it's a much bigger problem for banks, than governments. Remember, taxation still existed in a time when no valuables were traceable. So that fact that some cryptocurrencies are claimed to be untracable, doesn't really matter much to the state.
Andrew_nenakhov|6 years ago
Also: it will not be outlawed everywhere, some country will jump on the opportunity. So you earn bitcoins in one place, legalize then in another one, where it is legal. It's not so easy to prevent this, I'd even call an attempt futile.
xtracto|6 years ago
FillardMillmore|6 years ago