Can Bitcoin be worth zero? - page 6.

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Quote from: cmcripto on August 29, 2022, 10:53:27 AM

We all know how volatile and unpredictable the cryptocurrency market can be. One month, a coin may be at its peak of value, and the next, it may have almost no value at all. Unfortunately, this is simply the name of the game when it comes to cryptography. But what would happen if the oldest and most valuable asset on the market, Bitcoin, dropped to zero?

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This question is already expected from a newbie as one is not knowledgeable and used to see the market having price fluctuations most of the time. But when we talk about bitcoin, knowing it’s the most prominent and the one that dominates the crypto market, it’s hard to see its value dropping into zero. Although bitcoin is also not stable, but knowing that it had survived more than 10 years of battling with a lot of attacks, that one proves that bitcoin will not be easily become useless in the end.

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Quote from: cmcripto on August 29, 2022, 10:53:27 AM

what would happen if the oldest and most valuable asset on the market, Bitcoin, dropped to zero?

That imagination can never happen, btc will never go back to zero, i don't even believe btc price can ever go below 5k$ again in this life. Even if all the government in across all nation gang against BTC it can never be valueless.
Btc has gained ground, trust and adoption, which we as crypto believe will always do everything posssible to keep it alive.

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Quote from: NeuroticFish on August 29, 2022, 11:53:44 AM

Quote from: cmcripto on August 29, 2022, 10:53:27 AM

But what would happen if the oldest and most valuable asset on the market, Bitcoin, dropped to zero?

Such thing would happen only if an unrecoverable and very big problem would be found in Bitcoin. Until now no such thing has happened (the big problems were early and recoverable), so we can say it has already passed the test of time and 0-value scenario is pretty much unlikely.

However, was this a genuine question or just some attempt to advertise a website?

Obviously it’s more on the advertisement of this website he posted. But anyway, bitcoin will never reach zero value if there will be no world events that will leave huge effects on its price. Although the market had experienced a lot of struggles because of some inevitable events but all those have only come and passed, and up to this moment, there are still no reasons that bitcoin will end up being useless and end up in zero value.

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Quote from: cmcripto on August 29, 2022, 10:53:27 AM

We all know how volatile and unpredictable the cryptocurrency market can be. One month, a coin may be at its peak of value, and the next, it may have almost no value at all. Unfortunately, this is simply the name of the game when it comes to cryptography. But what would happen if the oldest and most valuable asset on the market, Bitcoin, dropped to zero?

https://portalcripto.com.br/en/crypto-crash-2022-bitcoin-pode-valer-zero/
font: https://portalcripto.com.br

If you are just "new" into this market then you would really be definitely having this kind of impression where you would really be having thoughts that it might be going to zero.How can you say that it would come to zero? If you are really that aware on how many times bitcoin died then it do able to recover afterwards then you would really be building up that kind of confidence inside.

Although nothing is assured when it comes to future or things that might happen ahead but basing up with Bitcoin community and its support then it is really hard to believe that it would really lost its value.
If you do have doubts with bitcoin investment then skip out and find another one.We dont really force out people to make out investment.

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I think it will take a very long time before Bitcoin become worth zero if it will be. But in the current situation, Bitcoin is far from going worthless because its foundation is already established. On the contrary, I think Bitcoin is more likely to continue to have an uptrend chart because of the strong effect of speculations.

But, assuming Bitcoin becomes zero, I am sure, the world will move on, there may be lots of people who went bankrupt but I am sure there are also who profited from this event.

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I would say that Bitcoin CAN be worth 0, but it's extremely unlikely. I'm sure there's a price it would drop to where people would be interested in owning it as a keepsake. Look at Namecoin... Nobody really uses that for anything these days but it's still got a market cap in the millions. I imagine if Bitcoin dropped to a penny, many people could afford to buy them all just for shits and giggles as they say. It would take a pretty catastrophic event for nobody in the world to be willing to pay a penny for a BTC. I think if that happened, the price of Bitcoin would be the least of anyone's concerns.

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Quote from: cmcripto on August 29, 2022, 10:53:27 AM

We all know how volatile and unpredictable the cryptocurrency market can be. One month, a coin may be at its peak of value, and the next, it may have almost no value at all.

When you're reading about bitcoin am sure you've come across the word volatile, this is what is common with the currency and it does not do it harm or bad in any way, it rather give room to enter into the market and proceed with the moves, but what many lack is the understanding of how the market runs, bitcoin is entirely different from fiat currency, and not until the Knowledge is being acquired along with some years of experience it may be so difficult not to have it all in a bad way.

Quote from: cmcripto on August 29, 2022, 10:53:27 AM

But what would happen if the oldest and most valuable asset on the market, Bitcoin, dropped to zero?

I don't think this is a possibility for now because bitcoin has come and to stay.

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Quote from: cmcripto on August 29, 2022, 10:53:27 AM

But what would happen if the oldest and most valuable asset on the market, Bitcoin, dropped to zero?

Though this is possible with several shitcoins out there, but I honestly do not think it is possible with Bitcoin.
As the price of bitcoin drops, alot of investors are waiting to buy in, and as investors buy in, the price rises, this is why the price of bitcoin can never turn to zero.

And also to add, what ever causes the price of bitcoin to go down to zero must be really heavy, and that might mean the end of crypto, for as it is currently, whatever affects bitcoin affects the entire crypto market.

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Quote from: Upgrade00 on August 29, 2022, 11:26:53 AM

Quote from: cmcripto on August 29, 2022, 10:53:27 AM

One month, a coin may be at its peak of value, and the next, it may have almost no value at all.

Most likely it was a shitcoin which was riding on hype and had no real value whatsoever.

Quote from: cmcripto on August 29, 2022, 10:53:27 AM

But what would happen if the oldest and most valuable asset on the market, Bitcoin, dropped to zero?

What would happen if gold or real estate dropped to zero.
Bitcoin has survived long enough to not have this type of arguments around it.

Instead of seeing bitcoin in zero value, why not expect the highest peak that it could reach in the next possible years. Bitcoin has lived more than a decade and if it will only drop into zero value, then all its struggles will all fall into nothing. However, as long as the demand of the people increases every year, bitcoin will also develop and grow more, that way its value will hardly fall into zero anymore.

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Quote from: cmcripto on August 29, 2022, 10:53:27 AM

We all know how volatile and unpredictable the cryptocurrency market can be.

Yes, being volatile is part of the petty sentiments, why? It's gives a designated time for the BULLS and the BEARS _{even to NEWBIES that are also interested to HODL btc.}

P/s: these volatility ain't symetrical because the market doesn't run itself; sometimes, it is based on concurrent repositioning on the world's economy which, we all know as a major catalyst of degradation.
IMO, bitcoin has taken more than a decade to raise a formidable and an unfathomable, structural brilliance so I don't even think an eclipse will do much harm.

Sandra ❣️

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The price of bitcoin was still struggle to being at 20k dollars,many whales trying to collapse it.But with the new and old supporters of the bitcoin and crypto currency.The price of bitcoin back to the 20k dollars.People waiting for the 17k dump in the price of bitcoin.But it take some huge time for the huge dump in the bitcoin price.This will be good time to inverse in the trusted coins.

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Quote from: jossiel on August 29, 2022, 02:29:48 PM

But is there any history in the early past of it that this has ever happened?

No, Bitcoin has not had a 51% attack, as far as I'm aware.
Comparing the risk and reward ratio, attempting such an attack on Bitcoin would be very difficult to pull of. For one, it has a huge capital requirement to even attempt it, and there's no guarantee that the attacker would actually get any benefit from it.

The hashrate is also growing, making it more difficult with time.

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If a 51% attack has happened then it could be one of the reason in the past. But is there any history in the early past of it that this has ever happened?

The projects that had been 51% attacked still has some value but that made their projects deteriorate.

Quote from: NeuroticFish on August 29, 2022, 11:53:44 AM

However, was this a genuine question or just some attempt to advertise a website?

I believe it's the latter.

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OP, I can understand that your concern and what has prompted this question, which is as a result of the recent dip in the price of btc, where the price dropped below the $20k mark yet again, almost unexpected and it is causing uncertainty to brew in the mind of hodlers. Btc may dip further, but the price will never get to zero, at least that is something everybody who has been with bitcoin can say in agreement. There is a possibility for other coins to get to zero, but not bitcoin IMO.

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Quote from: cmcripto on August 29, 2022, 10:53:27 AM

We all know how volatile and unpredictable the cryptocurrency market can be. One month, a coin may be at its peak of value, and the next, it may have almost no value at all. Unfortunately, this is simply the name of the game when it comes to cryptography. But what would happen if the oldest and most valuable asset on the market, Bitcoin, dropped to zero?

https://portalcripto.com.br/en/crypto-crash-2022-bitcoin-pode-valer-zero/
font: https://portalcripto.com.br

because you are a newbie then you have to read a lot more topics that have been past in this forum...

out there we are met every day by writings, thoughts from people who have different predictions about the future of bitcoin (some say bitcoin will go to zero, some will not) but if you examine more deeply then the possibility of bitcoin going to zero is 0.009%.

you can read an old topic I've made, maybe you can get something from there [This is why Bitcoin will never go to zero]

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Quote from: cmcripto on August 29, 2022, 10:53:27 AM

But what would happen if the oldest and most valuable asset on the market, Bitcoin, dropped to zero?

Such thing would happen only if an unrecoverable and very big problem would be found in Bitcoin. Until now no such thing has happened (the big problems were early and recoverable), so we can say it has already passed the test of time and 0-value scenario is pretty much unlikely.

However, was this a genuine question or just some attempt to advertise a website?

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Quote from: cmcripto on August 29, 2022, 10:53:27 AM

One month, a coin may be at its peak of value, and the next, it may have almost no value at all.

Most likely it was a shitcoin which was riding on hype and had no real value whatsoever.

Quote from: cmcripto on August 29, 2022, 10:53:27 AM

But what would happen if the oldest and most valuable asset on the market, Bitcoin, dropped to zero?

What would happen if gold or real estate dropped to zero.
Bitcoin has survived long enough to not have this type of arguments around it.

cmcripto

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We all know how volatile and unpredictable the cryptocurrency market can be. One month, a coin may be at its peak of value, and the next, it may have almost no value at all. Unfortunately, this is simply the name of the game when it comes to cryptography. But what would happen if the oldest and most valuable asset on the market, Bitcoin, dropped to zero?

https://portalcripto.com.br/en/crypto-crash-2022-bitcoin-pode-valer-zero/
font: https://portalcripto.com.br

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