Because its biologically impossible. Fundamental biochemistry would kick in and kill you.
For a start your cells would run out of energy and start to die. Not to mention the build up of lactic acid from anaerobic respiration would cause acidosis which again pretty much will royally fuck up your organs and kill you.
So no, not possible unless your a single celled organism or a plant.
For extreme cases of divers. They have had years of conditioning around increasing lung capacity, increasing blood/oxygen saturation and possibly slowing metabolic functions reducing oxygen need. Eventually though that oxygen will run out and they will end up dead.
As for breathing itself. It is a reflex built directly into your brain stem. If you hold your breath and pass out you will start breathing again. It is why you dont suffocate in your sleep. So unless you have damage to your brain stem or have taken drugs that suppress your reflexes like benzos or opiates then no you cant hold your breath and die.