Well lately you may all heared about the new AI chat called chatgpt which is in beta version and for free now and It's so easy to use and access. So i wanted to ask some questions about bitcoin to it and see the answer, one of my curios questions is how bitcoin price drop to 0$ and this is the AI answer :
[It is theoretically possible for the price of bitcoin to drop to zero, but it is highly unlikely to happen. There are several reasons for this.
First, bitcoin has a fixed supply, which means that there is a limited amount of bitcoins that can be mined. This scarcity gives bitcoin value and makes it unlikely that the price will drop to zero.
Second, bitcoin has a decentralized network of users who are committed to the success of the currency. These users are motivated by a belief in the value of bitcoin and the underlying technology (blockchain) and are likely to continue using and holding bitcoin even if the price drops temporarily.
Finally, bitcoin has a strong track record of price stability over its 12+ year history, despite experiencing some significant price fluctuations. While it is always possible for the price of bitcoin to go down, it is unlikely that it would drop to zero. ]
Well i didn't get the scenarios of this thing to happen. So i had to ask about it again and i got this answer which was so detailed
[It is difficult to predict specific scenarios that could cause the price of bitcoin to drop to zero, as it would require a significant and unforeseen shift in market conditions or technology. However, there are a few hypothetical scenarios that could potentially lead to the collapse of the bitcoin market and a drop in the price of bitcoin to zero:
Loss of trust: If the bitcoin network were to suffer a major security breach or if there were a widespread loss of trust in the integrity of the network, the price of bitcoin could potentially drop to zero.
Government intervention: If governments around the world were to pass legislation that made it illegal to use or hold bitcoin, it could potentially lead to the collapse of the bitcoin market and a drop in the price to zero.
Technological obsolescence: If a superior cryptocurrency or technology were to emerge and gain widespread adoption, it could potentially lead to the decline of bitcoin and a drop in its price to zero.
It is important to note that these scenarios are highly speculative and it is difficult to predict how events might unfold. As with any investment, it is important to carefully consider the risks and conduct thorough research before investing in bitcoin or any other cryptocurrency.
I liked these answers given by the AI and i don't think there's much left to add about this subject of price dropping to 0 and the chances of this to happen are very low and very close to impossible
The AI made some great pointers which is to be expected, but then again the disclaimer of it being speculative just goes to show that these scenarios are very unlikely to happen, with the exception of obsolescence as technology expontially improves every single year, it could be possible that in the not-so-distant future we encounter a crypto that we will love more than bitcoin because of how beneficial it is, profitable, or other factors. But until that day comes, bitcoin remains the top 1 cryptocurrency and that will stay the same for a projected long-ass time. We can never forget how helpful bitcoin has been and how impactful it was for a number of us.