Can bitcoin be worthless? - page 14.

Adhichan

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Quote from: Netnox on April 04, 2019, 12:06:12 PM

Quote from: Nanagyasi on April 03, 2019, 03:23:02 PM

A lot of people have predicted doom for btc on several grounds but what do we see, it always proves them wrong. Btc has gained enough grounds to be worthless now. A lot more people are accepting the idea of btc and for me, it is highly impossible for btc to be worthless

Yes.. in the past a lot of people had predicted that Bitcoin would die out, or it would get replaced by some other coin. But it has shown remarkable amount of resistance. Even now a lot of people are doubtful about its long-term survival. But I am sure that it will remain alive at least for the next two decades.

and now this prediction totally wrong.bitcoin still alive till now and even lighting network reach bigger capacity.i am sure if lightning network already reach full capacity much people even that retail or institution will use bitcoin.

Osarman

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Quote from: navneet kaur on April 02, 2019, 12:22:35 AM

My answer is a swift & painful drop to zero.

In a MarketWatch column, I wrote last May-June, I thought what it would take for bitcoin to become worthless. Bitcoin is getting close to that point. once Bitcoin’s price falls below its cost of mining, the incentive to mine will deteriorate, thrusting bitcoin into a death spiral. Because the ledger that maintains the records of who owns what — bitcoin is, after all, a set of encrypted numbers that cannot establish the ownership of anything — bitcoin will become worthless.

You are right. if the cost of producing bitcoin (mining) is higher then bitcoin price then it's obvious that the Bitcoin will become worthless if it continues like that. But the question is why people are selling bitcoin for less price then ? I mean the miners and traders are the ones who decide the price. then why don't they increase the price higher than the mining costs ?

2nd thing is there is always a solution, right now it seems bitcoin will become worthless but maybe developers figure it out somehow. with better and cheap mining equipment.

Netnox

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Quote from: Nanagyasi on April 03, 2019, 03:23:02 PM

A lot of people have predicted doom for btc on several grounds but what do we see, it always proves them wrong. Btc has gained enough grounds to be worthless now. A lot more people are accepting the idea of btc and for me, it is highly impossible for btc to be worthless

Yes.. in the past a lot of people had predicted that Bitcoin would die out, or it would get replaced by some other coin. But it has shown remarkable amount of resistance. Even now a lot of people are doubtful about its long-term survival. But I am sure that it will remain alive at least for the next two decades.

Visbay

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Quote from: Dr.Osh on April 02, 2019, 10:06:33 AM

actually, if measured by how bitcoin is used today, I think bitcoin can be useless. but, I think at the moment this is still very difficult to imagine, because the development of bitcoin continues to widen, and expand. I think the price of bitcoin will only continue to grow, and is valuable.

Indeed bitcoin is making progress and it is not getting down but rising more and more with time, as more investors are investing and holding it so very soon it will be popular and it will increase the value more than before for me bitcoin is the most worth investing coin and it never disappointed me after investing my money to bitcoin.

Nanagyasi

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A lot of people have predicted doom for btc on several grounds but what do we see, it always proves them wrong. Btc has gained enough grounds to be worthless now. A lot more people are accepting the idea of btc and for me, it is highly impossible for btc to be worthless

Ronyx

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Bitcoin can fail and lose value if all countries impose criminal threats against bitcoin users, so many users feel scared and leave it. The possibility will always be there, but I don't think bitcoin will fail because bitcoin has become the strongest coin, and also not all countries will ban bitcoin.

sulendra12

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Yop, it could. There are people trying to prove that Bitcoin is worthless and doesn't value anything in the market because they are a fanboy of valueless altcoin that even they didn't know that it couldn't even exist if Bitcoin doesn't stay in the first place. What an idiot.

mrdeposit

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There was a good increase in price today, but that does not mean it will be tomorrow again. We should always remember that there is a great risk and continue considering this risk.

sandra_x

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Quote from: catur_072 on March 11, 2019, 07:01:36 AM

Currency failure generally occurs due to the type of hyperinflation, and there is always the potential for technical failure, currency competition, political issues and so on. As the main basic rule, there is no currency that can be considered very safe from failure and difficult times. so is it possible that bitcoin can become worthless?

It is been 10 years and bitcoin has only gotten better. Bitcoin will not fail on technical, political or otherwise ground.it draws its power from those who use it (getting bigger by the day for obvious reasons) and there are detrimental single poin t of failure.If there are technical issues,a common consensus fixes it eventually

serjent05

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It can be. Everything is possible in this world. Anyway, has anyone ever predicted the existence of cryptocurrency particularly bitcoin 30-20 years ago? If there was, did they ever predict it will be bitcoin and will it ever reach $20k? I doubt there was but it did happened and while others are saying it is impossible bitcoin can be worthless, it is. If people stop selling and buying it, stop trusting and using it then it will be the end of it, or maybe if there will a more better and superior cryptocurrency that will be made in the future just like Yahoo messenger, when other more advance and better messengers came out and beat Yahoo messenger, it did disappear.

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Quote from: catur_072 on March 11, 2019, 07:01:36 AM

Currency failure generally occurs due to the type of hyperinflation, and there is always the potential for technical failure, currency competition, political issues and so on. As the main basic rule, there is no currency that can be considered very safe from failure and difficult times. so is it possible that bitcoin can become worthless?

if anything changes to something but the cryptocurrencies are not like that especially Bitcoin is not going to be a zero value again once it was been a good value in the market it will struggling only not going to end in soon so I think Bitcoin will be developing again and again only.

TIDOVEE

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Yes, bitcoin can be worthless if the price values becomes too low that people shift away from it, or it other cryptocurrency goes far higher than it, also if many companies do not invest in it again. The hyper inflation is still a point if it is general.

cryptjh

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Quote from: catur_072 on March 11, 2019, 07:01:36 AM

Currency failure generally occurs due to the type of hyperinflation, and there is always the potential for technical failure, currency competition, political issues and so on. As the main basic rule, there is no currency that can be considered very safe from failure and difficult times. so is it possible that bitcoin can become worthless?

Yes, that is possible! But I don't think it will happen anytime soon.
I think the opposite is about to happen, bitcoins will slowly become the safe haven, do to the endless Quantitative easing from all the worlds central banks.
Owning gold, land and now also bitcoins will most likely grant you financial freedom, next time we see a market meltdown.

Netnox

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A few years back, I invested in a crypto called Terracoin. Initially it gave me good returns, but in the end it lost its value and died out completely. IMO, there is no guarantee that such a fate can't happen to Bitcoin.

bitcoinisbest

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Quote from: gudjhonson on April 02, 2019, 01:16:28 AM

I don't think that bitcoin will not be valuable, but in my mind that bitcoin will be more valuable than we thought. We will see that bitcoin has a high value and is still an investment that does produce.

It has started to have more value since today it has reached 5k and might grow much stronger in demand and in price in coming time . So people who think it will fall will eventually lose this money making opportunity to build wealth for them self .

1BTC EQUALS 1CAR

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Yes, bitcoin can be worthless because everything is worthless. Only us people agreed that it has a value. But because we are living in a civilized generation, anything can be worth from $1 to $1M depending on its usage or scarcity. And technology is always a worth of your money just like the expensive phones based on our own taste.

Dr.Osh

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actually, if measured by how bitcoin is used today, I think bitcoin can be useless. but, I think at the moment this is still very difficult to imagine, because the development of bitcoin continues to widen, and expand. I think the price of bitcoin will only continue to grow, and is valuable.

Sled

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Quote from: DAVETUN on April 02, 2019, 06:54:58 AM

The world is migrating to the digital currency world, Bitcoin is the king and first it's kind, the long bearish trend for BTC does not connote it being worthless as a currency, BTC is not a ponzi scheme, it is a currency that will revolutionize how fund transaction aught to been done globally.

Fake news arises when Bitcoin arouse over the other forms of investment. This is a kind of competition and so some company owners tried to destroy Bitcoin's reputation by spreading FUD's and making a way that investors won't believe this thing. But they are not successful with their strategies, instead crypto grows more and build strong engagement with the investors.
Thus, I don't think that Bitcoin will be worthless knowing fact that it have such market value and being valuable today and in the future.

DAVETUN

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Bitcoin is the currency of this age

The world is migrating to the digital currency world, Bitcoin is the king and first it's kind, the long bearish trend for BTC does not connote it being worthless as a currency, BTC is not a ponzi scheme, it is a currency that will revolutionize how fund transaction aught to been done globally.

BeGoods

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Quote from: breathlessz on April 01, 2019, 10:56:19 PM

Quote from: karanggatak on April 01, 2019, 09:09:18 PM

Quote from: creeps on March 11, 2019, 08:03:14 AM

Quote from: catur_072 on March 11, 2019, 07:01:36 AM

Currency failure generally occurs due to the type of hyperinflation, and there is always the potential for technical failure, currency competition, political issues and so on. As the main basic rule, there is no currency that can be considered very safe from failure and difficult times. so is it possible that bitcoin can become worthless?

Yes its possible, if all the countries will move as one and banned cryptocurrency so expect for bitcoin to be useless but since billionaires are already on this market, i believe they will still support cryptocurrency and they will not allow their money to be ruled by the government. We are here also to support cryptocurrency, bitcoin is considered as the king and it can’t be replace by any new coin for now.

yes you are right crypto has been running for 10 years and definitely has millions of investors so it will be very difficult if bitcoin will become worthless. as long as the number of crypto and bitcoin users is still a lot of bitcoin will still be a valuable digital asset. and there will be no new coins that can replace the position of bitcoin. bitcoin is the king in cryptocurrency.

the more crypto users are, the more a good signal for the future. in addition, this will urge the government to give its policies to crypto, so that the country's economy is not disturbed

Even government regulations and other rules such as KYC currently do not make users go away? bitcoin still survives until now. I don't think anyone can stop the development of bitcoin at this time, users will get bigger, and that's the key to the future of bitcoin

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