Can Bitcoin Become Negative in Value? - page 3.

Chris Barth

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Quote from: Wenbing on April 22, 2020, 02:32:01 AM

Great comment.
But, look at the conditions I highlighted. What if those conditions were to be true, then what'll happen?

If there is no demand for bitcoin, then the inelastic will be forced to become elastic automatically.

And what makes you imagine a situation where there is "no demand". I can't see bitcoin having no demand. If people believed in bitcoin when it had little demand in the years back, how then can bitcoin demand turn to zero.

Jet Cash

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Wow this is a long thread. Has anyone mentioned that it was the West Texas Intermediate May contract that resulted in the negative value, and not the price of oil in general. Brent crude was still trading in double figures per barrel.It was simply the result of the unwary speculators being faced with having to accept physical delivery without any storage capacity. Bitcoin is stored ( recorded) on the blockchain, so there is no equivalent situation.

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Quote from: BitcoinsGreat on April 27, 2020, 08:06:43 AM

Bitcoin is entirely different from oil. Bitcoin can never be zero or below. The only scenario where i can see bitcoin going to zero is people stop using bitcoins and there is no demand (maybe an issue is triggered in the blockchain). If that happens, bitcoin will be finished. Don't expect bitcoin to go to zero and bounce back from there. It will be dead forever if it goes to zero in value.

Do you remember about bitcoin innovation?

Bitcoin offers many benefits for all users and bitcoin is not solely abount trading and in my opinion there are some things that make the price of bitcoin will not be zero, is:
Global accessibility, Every bitcoin user will benefit from it, especially related to global accessibility. We can accept and send bitcoin anywhere and anytime with just one click.
Cost efficiency, We do not need to think about transaction costs that are too much even though transactions are carried out between countries.

In my opinion all innovations from bitcoin strongly support that prices will not be zero. Adobsi which continues to increase will allow it to continue to exist and continue to be used primarily by the bitcoin community itself.

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Quote from: ?? on ??

You can't just say it is impossible for bitcoin to be zero without providing reasons it cannot be zero as other have done in this thread else your comment is vague.

You'll eventually get used to these type of comments, my friend. They're almost everywhere because quota.

BitcoinsGreat

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Quote from: Wenbing on April 22, 2020, 01:02:28 AM

I was shocked for reading a market breaking new as strange as this.

I paused and reflected again and again by applying this condition to other market assets.

I read from Blomberg that the price of crude oil has declined into a negative of $-37.63/barrel.

What will happen to countries that depend solely on crude oil revenue?

What will happen to the investors in crude oil?

A very serious reflection is that fact that, is it possible for bitcoin value to also drop into the negative?

What if the following happen:
1. A ban in the demand for bitcoin and a ban in the use of bitcoin.
2. Backing off of bitcoin miners from the business of mining?

Could these causes bring the value of bitcoin to something similar to the historic oil Price drop of $-37.63?

What do you have to say about this?

Bitcoin is entirely different from oil. Bitcoin can never be zero or below. The only scenario where i can see bitcoin going to zero is people stop using bitcoins and there is no demand (maybe an issue is triggered in the blockchain). If that happens, bitcoin will be finished. Don't expect bitcoin to go to zero and bounce back from there. It will be dead forever if it goes to zero in value.

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Quote from: onrise on April 26, 2020, 11:57:36 AM

Quote from: goaldigger on April 26, 2020, 11:07:38 AM

That’s the worst thing that can happen to bitcoin and we all know that any country can make such move to ban bitcoin, and create chaos to cryptoworld. If bitcoin becomes negative, then we are all stuck to the system of our government who always print money. Well, its good to have gold as well so when bitcoin dumps, you still have the gold.

I do not think it can become negative because it means that somebody will pay you if you own btc rather than we paying it currently to buy bitcoin. Also one of the case I think just if needs to happen would be only if a country makes it legal currency of their country and when people do not want to have btc then just in case govt may give money to people to have it and use.

That's close to impossible but still have probabilities since bitcoins still uncontrollable and it's on open market if people will not support this coin anymore for sure the dumping of price will happen but since bitcoins itself is well rooted in this industry for sure any single movements regarding on its negativity on value will be hard to achieve since one thing is for sure here many people will backed it up since this is the most well known cryptocurrency and much been adopted well compare to other alts.

cutesgirl

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Will be for bitcoin become negative value if many countries stop for bitcoin become legal investment and not available for every one trade with exchange, look when bitcoin got problem with hacker make bitcoin price drop and always every years get big moment when exchange market hacked, how come if every months have exchange hacked.

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Quote from: Wenbing on April 22, 2020, 01:02:28 AM

I read from Blomberg that the price of crude oil has declined into a negative of $-37.63/barrel.

Don't wanna be off-topic, but I just have to: don't read Bloomberg

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I don't think there is any relation between Bitcoin and the price of oil, or there will be any effect on Bitcoin like the price of oil, because the price of something goes down when the demand for that commodity goes down a lot. I can't compare it to oil as the day is increasing. I think no matter what the restrictions are, people can't stop using Bitcoin, I live in a country where I get 2-4 years in jail if I find out I use Bitcoin, and I have to pay cash, but I Thousands of people in our country are using it without stopping, but it will be the same in all countries, which is what we are doing.

onrise

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Quote from: goaldigger on April 26, 2020, 11:07:38 AM

That’s the worst thing that can happen to bitcoin and we all know that any country can make such move to ban bitcoin, and create chaos to cryptoworld. If bitcoin becomes negative, then we are all stuck to the system of our government who always print money. Well, its good to have gold as well so when bitcoin dumps, you still have the gold.

I do not think it can become negative because it means that somebody will pay you if you own btc rather than we paying it currently to buy bitcoin. Also one of the case I think just if needs to happen would be only if a country makes it legal currency of their country and when people do not want to have btc then just in case govt may give money to people to have it and use.

goaldigger

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That’s the worst thing that can happen to bitcoin and we all know that any country can make such move to ban bitcoin, and create chaos to cryptoworld. If bitcoin becomes negative, then we are all stuck to the system of our government who always print money. Well, its good to have gold as well so when bitcoin dumps, you still have the gold.

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There is gold in volatility..

Quote from: coolcoinz on April 25, 2020, 07:44:14 AM

Regarding the negative value, oil went negative because it sold for less than it costs to mine it. Bitcon can easily go into that kind of negative.

But this comment go to the opinion of almost all the comment on this thread.
According to what commentators have said is that to store bitcoin one doesn't require payment for storage unlike oil storage which is the reason for the negative Price of oil.

So, can we further clarify your stance on this?

Quote from: pakhitheboss on April 25, 2020, 08:39:39 AM

Quote from: ?? on ??

Quote from: Wenbing on April 22, 2020, 01:02:28 AM

~~~
For more than 10 years now nothing of that sort has happened and for the next 10 years, I do not foresee anything. I can only see the growth and adaptability of Bitcoin.

The major reason for this prediction and assumptions for negative Price is due to the fact that the bitcoin and crypto ideology is pivoting of the model of traditional currency from centralisation to decentralisation.

I'm not saying bitcoin will not grow against all odds but for the purpose of this discussion why do you think bitcoin price will keep rising and not decreasing to the negative of the curve?

[moderator's note: consecutive posts merged]

Sayma83

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I don't think the price of Bitcoin will be as ridiculous as the price of oil, because Bitcoin is not controlled by any particular person, and the price of oil is ridiculous because of the common Covid-19, and Bitcoin may rise because of the Covid-19, because of the different paper money. If everyone uses Bitcoin / Crypto Currency in case Covid-19 is found, then there is a risk of getting a lot of protection from Covid-19 in terms of transactions, considering that aspect. May be able to laugh with it, I do not think the price.

YOSHIE

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What you need to know Bitcoin has been a long journey today ten years since it was founded, at first only a handful of cryptographers were known, Bitcoin initially only used a payment method called the dark web, very grateful to current Bitcoin users for special attention to the mainstream since 2013 until now.

Along with the growth of the global era that supports the government, people who understand Bitcoin as a potential revolutionary crypto, with a large increase in demand with a total capacity of only 21 million units available, thus making the price always positive and expensive.

Bitcoin cannot be valued from crude oil or the reduction in oil in the world, both in terms of its usefulness or otherwise, bitcoin does not become negative only in favor of the world's crude oil, ada banyak hal yang dapat membuat Bitcoin positif.

What you really need to know is that Bitcoin in the future depends very much on its users and also these two factors, 1. The method of media trading / buying and exchange 2. as a storage of high-value currencies such as investment.

verita1

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The price of a barrel of crude oil declined to a negative $38 as we know is due to the effects of the Covid19. The transportation system is paralyzed worldwide as a result of covid19, therefore, there is no demand for crude oil to create fuels.

After leaving the state of emergency we will gradually recover. It is a chaotic situation but keeps the faith that we will recover. We need to be optimistic, imagine you I live in Venezuela that we depend on oil exploitation, we also gold and other minerals but we are blocked by the USA. It is a terrible situation for us.

A shocking way to put historic oil price drop in perspective
https://nypost.com/2020/04/20/drop-in-oil-prices-could-go-swimmingly-for-you/

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Quote from: pakhitheboss on April 25, 2020, 08:39:39 AM

Quote from: ?? on ??

Quote from: Wenbing on April 22, 2020, 01:02:28 AM

Could these causes bring the value of bitcoin to something similar to the historic oil Price drop of $-37.63?

What do you have to say about this?

Bitcoin's lack of privacy will prove to be its downfall just as the censorship of this once great forum will prove to be its downfall.

For more than 10 years now nothing of that sort has happened and for the next 10 years, I do not foresee anything. I can only see the growth and adaptability of Bitcoin. I cannot comment about the forum as I still consider my self new here.

and we will count another 10 years again that nothing like this will happen so OP is just wasting His time asking this stupid question here.

Bitcoin will Grow and lose many times now and in future but not to the extent that the price will goes negative like OIL share last month.
because crypto is not like Stocks and also not that affected or physical world.

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Quote from: Wenbing on April 22, 2020, 01:02:28 AM

Could these causes bring the value of bitcoin to something similar to the historic oil Price drop of $-37.63?

What do you have to say about this?

Bitcoin's lack of privacy will prove to be its downfall just as the censorship of this once great forum will prove to be its downfall.

For more than 10 years now nothing of that sort has happened and for the next 10 years, I do not foresee anything. I can only see the growth and adaptability of Bitcoin. I cannot comment about the forum as I still consider my self new here.

Quote from: Wenbing on April 22, 2020, 01:02:28 AM

I was shocked for reading a market breaking new as strange as this.

I paused and reflected again and again by applying this condition to other market assets.

I read from Blomberg that the price of crude oil has declined into a negative of $-37.63/barrel.

What will happen to countries that depend solely on crude oil revenue?

What will happen to the investors in crude oil?

A very serious reflection is that fact that, is it possible for bitcoin value to also drop into the negative?

What if the following happen:
1. A ban in the demand for bitcoin and a ban in the use of bitcoin.
2. Backing off of bitcoin miners from the business of mining?

Could these causes bring the value of bitcoin to something similar to the historic oil Price drop of $-37.63?

What do you have to say about this?

That only happened in the USA and not Globally. the Brent crude price which is used by most countries was still holding and is still holding on.

As per my knowledge crude is a non-reusable physical entity. It can go into negative if Global consumption becomes zero. Bitcoin is a digital assets so it is only available digitally and not physically. If the global internet shuts down then it will disappear or in other word vanish. It can never go to into negative numbers but end.

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Quote from: Assface16678 on April 25, 2020, 08:14:15 AM

If we are talking about the security of the bitcoin we don't have a problem regarding with that because all of the information and security of the bitcoin is already encrypted, just many people said that the bitcoin is not secured because they already experience some errors and scams but this is not the mistake of the bitcoin itself it is all about the user because by visiting the unsecured platform, fill up a form that is came from u known sources, clicking a link came from emails. That is the cause of too much damage to your devices and this is not quite good, because it causes damage to your accounts because they have no access to your devices. @OP in terms of the negative value the bitcoin does not have any chance in terms of getting negative value because it is used for every transaction so the market price and value of the coin may circulate and still has a value to maintain, we all known that the price of the coin came from the lower price too, the price may bring down but does not reach a negative value.

What are you even talking about?
This is the definition of shitposting. People could learn from you how to write a decent looking but meaningless paragraph. You just took a bunch of words like "the bitcoin", "price" and "value" and mashed it up in a random order. Great nickname by the way. This really looks like something an assface would write.

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Quote from: coolcoinz on April 25, 2020, 07:44:14 AM

Quote from: ?? on ??

Quote from: Wenbing on April 22, 2020, 01:02:28 AM

Could these causes bring the value of bitcoin to something similar to the historic oil Price drop of $-37.63?

What do you have to say about this?

Bitcoin's lack of privacy will prove to be its downfall just as the censorship of this once great forum will prove to be its downfall.

The lack of privacy is not a problem of Bitcoin but people who choose centralized exchanges. I feel totally anonymous holding and exchanging my BTC, as I never do it on platforms that require KYC.
Regarding the negative value, oil went negative because it sold for less than it costs to mine it. Bitcoin can easily go into that kind of negative.

If we are talking about the security of the bitcoin we don't have a problem regarding with that because all of the information and security of the bitcoin is already encrypted, just many people said that the bitcoin is not secured because they already experience some errors and scams but this is not the mistake of the bitcoin itself it is all about the user because by visiting the unsecured platform, fill up a form that is came from u known sources, clicking a link came from emails. That is the cause of too much damage to your devices and this is not quite good, because it causes damage to your accounts because they have no access to your devices. @OP in terms of the negative value the bitcoin does not have any chance in terms of getting negative value because it is used for every transaction so the market price and value of the coin may circulate and still has a value to maintain, we all known that the price of the coin came from the lower price too, the price may bring down but does not reach a negative value.

coolcoinz

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Quote from: ?? on ??

Quote from: Wenbing on April 22, 2020, 01:02:28 AM

Could these causes bring the value of bitcoin to something similar to the historic oil Price drop of $-37.63?

What do you have to say about this?

Bitcoin's lack of privacy will prove to be its downfall just as the censorship of this once great forum will prove to be its downfall.

The lack of privacy is not a problem of Bitcoin but people who choose centralized exchanges. I feel totally anonymous holding and exchanging my BTC, as I never do it on platforms that require KYC.
Regarding the negative value, oil went negative because it sold for less than it costs to mine it. Bitcon can easily go into that kind of negative.

Topic: Can Bitcoin Become Negative in Value? - page 3. (Read 1340 times)