Can bitcoin be worthless? - page 16.

Janation

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Quote from: Ridwan Fauzi on March 23, 2019, 03:32:06 AM

Bitcoin can be worthless if many peoples use bitcoin as investment only, as you said if pump come and suddenly we will see dump, just it. So as there will be many investors who tire to this situation and they will give an opinion investing in bitcoin is not the best place, so they will move and look for another place that can give them at least a convenience although have many risks. But if we promote bitcoin and tell to anyone to use bitcoin as payment system until many merchants who try to accept bitcoin and then we will see another steps to makes bitcoin price recover, also we can see many peoples who use bitcoin as payment system till the government will have a think to accept bitcoin. I guess those ways will never make bitcoin go to be worthless.

What? How can it be worthless?

You have a point but you know that we are in this kind of journey for almost 10 years now right? If investors are quickly getting tired of this situation I guess they should've already stopped investing in Bitcoin. And yes, if this continues and price dump, people will be thinking negatively but the good thing about that is that most of the investors will take that as an advantage to invest again and that will be having a positive change into the price. A lot of people are saying they will promote Bitcoin but I don't think that is happening IRL.

STT

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Quote from: bce on March 23, 2019, 12:39:05 PM

I personally am not so sure about the bitcoin situation that will no longer be valuable because the state of bitcoin is declining continuously

Price is not state, the prospects and underlying blockchain network is not dictated purely by the price and headline interest. All the while price goes up or down they must successfully develop the protocol and bring the situation forward. Even if price was going up, if the proper advancement was not occurring it would not be bullish outside of that headline figure.

So what I'm trying to say is I believe Bitcoin is more then skin deep. I certainly dont expect it to have lasted this long if it were only driven by exchanges and centralised dealers, BTC has surpassed and surprised so many people. Even the people most negative on Bitcoin have gained at least some respect for its durability and ability to propagate around the world and provide some utility.

Theres always an argument for competition but to be worthless I think would have come back to day one and the base protocol for BTC and was there a flaw or not. Of course we had doubts and passed them but its not impossible a problem lies unknown still. The only scenario for worthless is if they could not patch a major vulnerability or failure, nothing is impossible but its been ten years so far so good

sirminesalot

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the possibility can occur and without anyone knowing if the government prohibits crypto currency from being used or accessed, crypto currency will be lost in that country

Babyrica0226

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Quote from: okala on March 22, 2019, 06:37:51 AM

At this level I don't think bitcoin can ever go down the zero, don't get me wrong am not saying is not possible but am saying the chances of that happening is very small so bitcoin is likely to remain above zero level no matter the level of inflation in the market.

I am fully doubtful about bitcoin can be worthless, because there are still holder and investor who are obviously holding Bitcoin in a long term.
and in fact, the price of bitcoin recently has been increased which I think it will goes little by little in the market, isn't it is a good sign that the bull run is coming now, just wait a little bit longer.

bce

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I personally am not so sure about the bitcoin situation that will no longer be valuable because the state of bitcoin is declining continuously, but the interest is increasing every month. so I just thought that the bitcoin situation would improve again.

Ridwan Fauzi

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Quote from: FlightyPouch on March 23, 2019, 02:52:00 AM

Quote from: hawkins on March 23, 2019, 02:09:04 AM

if you ask whether bitcoin can be worthless or not, of course the answer can be. however, at present it does not show these characteristics, and development continues. despite the possibility, it is very small. I just hope that the price of bitcoin in the future will be high and become more valuable.

Well, we don't know what might happen but all we know is that there are a lot of people holding their Bitcoins hoping that it would really pump in the near future. It is not impossible but at the same time, there is also a possibility of retaining what is its price right now and dumping. No one can see the future of it unless we know what would happen through some things and based our prediction on those.

Bitcoin can be worthless if many peoples use bitcoin as investment only, as you said if pump come and suddenly we will see dump, just it. So as there will be many investors who tire to this situation and they will give an opinion investing in bitcoin is not the best place, so they will move and look for another place that can give them at least a convenience although have many risks. But if we promote bitcoin and tell to anyone to use bitcoin as payment system until many merchants who try to accept bitcoin and then we will see another steps to makes bitcoin price recover, also we can see many peoples who use bitcoin as payment system till the government will have a think to accept bitcoin. I guess those ways will never make bitcoin go to be worthless.

FlightyPouch

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Quote from: hawkins on March 23, 2019, 02:09:04 AM

if you ask whether bitcoin can be worthless or not, of course the answer can be. however, at present it does not show these characteristics, and development continues. despite the possibility, it is very small. I just hope that the price of bitcoin in the future will be high and become more valuable.

Well, we don't know what might happen but all we know is that there are a lot of people holding their Bitcoins hoping that it would really pump in the near future. It is not impossible but at the same time, there is also a possibility of retaining what is its price right now and dumping. No one can see the future of it unless we know what would happen through some things and based our prediction on those.

hawkins

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if you ask whether bitcoin can be worthless or not, of course the answer can be. however, at present it does not show these characteristics, and development continues. despite the possibility, it is very small. I just hope that the price of bitcoin in the future will be high and become more valuable.

Sum24

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Quote from: tarable on March 22, 2019, 08:29:38 AM

to be worthless it can certainly happen but in a long time the problem is that there are still many bitcoins who use it for income-seeking land such as trade and investment

Indeed there are so many supporters who are investing and trading with crypto currency even if it is low price, bitcoin has good potential to rise and to make money for investors, day by day new investors and trades are joining the market so there is no chance for bitcoin to become worthless, day by day it is being stronger and popular.

hen cet

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Quote from: okala on March 22, 2019, 06:37:51 AM

At this level I don't think bitcoin can ever go down the zero, don't get me wrong am not saying is not possible but am saying the chances of that happening is very small so bitcoin is likely to remain above zero level no matter the level of inflation in the market.

Of course bitcoin can be worthless if the crypto market has no demand and supply, so the price tends to be stagnant. Especially for long periods of time there is no demand but many offers, the price certainly continues to fall.
Another possibility is that if all countries prohibit crypto money and users are subject to punishment, it will certainly affect the mentality of the crypto owner to use.
But I am sure that is not possible because in the future digital money needs cannot be avoided.

andriarto

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Quote from: imstillthebest on March 22, 2019, 06:22:01 PM

Quote from: Anyobsss on March 22, 2019, 01:54:48 PM

Quote from: catur_072 on March 11, 2019, 08:01:36 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?

As long as theres someone using bitcoin, it will mever become worthless. Similar to things like diamond and gold, as long as people think that it has great value, it will continue to have value.

Diamond and gold are different , both have a physical form where people can sculpt and use them as a jewelry . they are precisous metals while bitcoin didnt have those feature . bitcoin only exist online and if ever there is a payment method or an online currency that is much better than bitcoin , there is a chance that bitcoin can be easily replaced and it can be worthless .

but it's certainly not that easy to replace bitcoin, even though gold and diamonds already have confidence in the whole community, bitcoin offers a future gold to invest. considering the needs of the people who depend on the internet, of course btc will have a special place for everyone

STT

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Theres a chance but its not a one off that this 'virtual' aspect product exists in our economy, its not a one off to acknowledge value of this type that will never appear in a physical capacity. We have an idea of ideas for many years now imo, the digital economy is important and is not likely to stop.

Today in news I noticed Ebay will now respect the consumer rights of its users who buy through the site on purely digital items. I'm sure years ago they would not even allow me to list such virtual things nevermind guarantee any rights to the sale

imstillthebest

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Quote from: Anyobsss on March 22, 2019, 01:54:48 PM

Quote from: catur_072 on March 11, 2019, 08:01:36 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?

As long as theres someone using bitcoin, it will mever become worthless. Similar to things like diamond and gold, as long as people think that it has great value, it will continue to have value.

Diamond and gold are different , both have a physical form where people can sculpt and use them as a jewelry . they are precisous metals while bitcoin didnt have those feature . bitcoin only exist online and if ever there is a payment method or an online currency that is much better than bitcoin , there is a chance that bitcoin can be easily replaced and it can be worthless .

karanggatak

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maybe bitcoin becomes worthless when a big natural disaster occurs and the internet network is cut off so we can't access our bitcoin. but if the condition of the world is as good as it is now. to be worthless I think the possibility is small because the number of bitcoins is limited to only 21 million coins. this can prevent hyperinflation and with a limited amount when the more interested, the price will be more expensive.

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Quote from: okala on March 22, 2019, 06:37:51 AM

At this level I don't think bitcoin can ever go down the zero, don't get me wrong am not saying is not possible but am saying the chances of that happening is very small so bitcoin is likely to remain above zero level no matter the level of inflation in the market.

we never know the market that happened later. because every market movement we never know until now and the development of crypto that will happen later we also do not know correctly so I think that bitcoin will still be valuable until whenever and interested more and more.

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Quote from: Anyobsss on March 22, 2019, 01:54:48 PM

As long as theres someone using bitcoin, it will mever become worthless. Similar to things like diamond and gold, as long as people think that it has great value, it will continue to have value.

That is the argument I've heard used and the ironic thing being that comes from people who oppose Bitcoin. There is likely to always some use and always some value, its really a case of how competitive and efficient is Bitcoin in comparison to its alternatives.

The most likely replacement for BTC is another crypto blockchain and many people think they have invented that but the price shows so far that is not the case though many alternates do introduce useful functions I would argue

Gold and diamonds started as a show of wealth, still are in some case. But gold is useful as its so easily equally divisible or fungible and Bitcoin shares that utility I think

BitcoinTurk

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Quote from: catur_072 on March 11, 2019, 08:01:36 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?

In fact, the answers to this question would be quite different. I think there is a missing part in the question because unfortunately your question is insufficient when thinking that Bitcoin will get worse. Although it is possible to answer with generalization, I think that these answers will not be of good quality because evaluations should be done in a multifaceted way. For example if you need to comment on the price, yes the situation may go even worse. But in terms of technology, we think that there will be no going forward, but rather a forward movement. On the other hand, I think it will be used much more in the coming period if needed to interpret according to the areas of use. In a nutshell, I was able to explain my 2 simple and 1 negative thoughts with my simplest criticisms. For this reason, it will not be the right thing to answer by just one way and generalization.

upsidedown75

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Quote from: Akagum on March 21, 2019, 04:24:39 AM

The price of bitcoin per time doesn't in any way affect its value.
The only way bitcoin can become worthless is when it's supply becomes higher than demand for a long time.
It then means that users are not using bitcoin again .
Then it will become worthless.

And for now, the community of people making use of Bitcoin is still very low compared to what we will see in some years to come.

As of now, bitcoin is gradually being found on every merchant sites online and a time will come that many people will prefer it as means of payment to other payment methods available out there.

I have a friend in one of these countries that cannot accept payment through paypal because a ban was placed on their country, thereby limiting the use of paypal to receive payment for most of his jobs done online but ever since the introduction of Bitcoin as payment method, his life has drastically change as he could engage himself in other online means of making money without any form of limitation.

Capt00

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Quote from: cabalism13 on March 22, 2019, 11:49:27 AM

<...>
And almost of the programmers here, are now adapting the system of blockchain. It may have a lower value but it wouldn't reach zero. I'll bet my slippers on that Tongue

Lol, dude that was very funny why only slippers you've going to bet. Correct, the word worthless is mean to say that the value was going to zero and that is worthless and I think and obviously Bitcoin price will not hit on that price. We believed that has more profitable if we are going to hold this digital currency. Maybe altcoins those did not in the top 1000 altcoins beyond that maybe they are going to worthless.

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Quote from: catur_072 on March 11, 2019, 08:01:36 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?

As long as theres someone using bitcoin, it will mever become worthless. Similar to things like diamond and gold, as long as people think that it has great value, it will continue to have value.

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