Topic: Can Bitcoin Drop to Zero? - page 7. (Read 1359 times)

Everything could happen, even Apple shares could drop to 0, if no one uses the product.
the same thing with bitcoin, I see that there are more and more users so the possibility of bitcoin dropping to 0 is getting smaller.

This Jon Cunliffe guy is talking about theoretical and practical 0 USD Bitcoin price, but he doesn't explain HOW this will happen?
What force could bring the demand for Bitcoins down to zero? Is it going to be a mass government ban or World War III?
This seems like another mindless FUD about "Bitcoin having no intrinsic value, so the BTC price could possibly drop down to zero".
Theory is theory and some theories cannot happen in reality. The BTC price could "theoretically drop to zero" in some weird financial theoretical model, not in reality.
 

Bro don't go for theory there is lots of theory in our world those are actually bullshi*t. So always be practical and believe on the fact. There is lots of people those hate Bitcoin for their own interest but that doesn't mean that Bitcoin will be scam coin it's not a allt-coin. The mining of Bitcoin still running and I don't think we have to worry about Bitcoin in the next 150 years. So till now there is no question that Bitcoin can drop to zero

You need to understand he meant theoretically not practically at the moment, theoretically everything can go zero so it's.not a big deal but if Bitcoin has to go to zero there needs to be so mean development around it like there shouldn't be any buyer or seller and all the traders or miners should disappear only then it would happen and we know we are not going to witness it because nothing as such will ever take place in the near future. Need to stop worrying about such well orchestrated fuds.

Let me advise you not to listen to these fiat guys when it comes to Bitcoin and cryptocurrencies, they spit heresy and will continue to do so because their ideology can never be in line with that of Bitcoin. So instead of letting them discourage you, you should rather avoid them outrightly. It is all the discouragement that they spat until now that Bitcoin continues to be adopted, rising and waxing stronger than before, and we all know the recent development that people are all happy about in respect of the ETF, so what else? All I know is that Bitcoin will continue to shame them. Bitcoin is a good asset and though it is not supported by any physical things, people's money is enough, as the physical things that other assets are being supported with would also be nothing if they were not backed by the support of people or the people who value them with their money and demands.

Also, it is practical that Bitcoin cannot go back to the zero level ($0), for what reason would it be relegated to that level? Even if Bitcoin has issues, it will move lower and still be stable over time, and there will be some investors that will never sell their coin, so it will never go to zero level ($0) again, but can still drop to a level that is below $1,000, especially if many top countries announce their ban on cryptocurrency. It will be very devastating, to say the least. Lastly, do not let anybody use grammar to confuse you, there is nothing like the "theoretical" in the market decision/reaction, and it must be practical before it is real. Or else, they are only imagining it in their minds, and who cares?

Not only with bitcoin but also gold, silver, diamonds...everything can drop to zero or become worthless, everything has risks and bitcoin is no exception. But once you have invested in bitcoin, you should have absolute faith in it, don't let other people's words shake your faith. And if you don't believe in bitcoin, it's best not to invest in bitcoin. Everyone is enjoying what bitcoin brings us, so it's a waste of time to worry about things that are very unlikely to happen at the moment. Maybe one day in the future, people won't need bitcoin anymore, but that won't happen anytime soon so you don't need to worry about it.

The recent decline was triggered by several factors, sometimes the illiquid market makes BTC experience an unexpected rise or fall in a short time, but if there are practitioners who justify BTC's rational drop to zero for BTC, it is not possible because BTC is still very young. So , the move that we're seeing now is a very big step into what I see as a growing market. Not a specific suggestion or invitation but wise continue buying BTC and use the method you enjoy most while the price is still good enough today for you to add to your portfolio.

Can gold's value drop to zero? Yes, they can if everybody in the world has enough gold and nobody needs to buy gold to get it. This is possible with gold because it has an unlimited supply we just don't have the resources to mine all of it. With bitcoin it is not possible as it has limited supply so there will always be a supply and demand factor in the market. Its price can drop drastically, but its value dropping to zero isn't so reasonable to think of. There is a way to drop bitcoin's value to zero and that is by making it inaccessible to the world. Is this possible?

No transactions, no trading, no mining, no adoption – it all allows bitcoin to become zero or worthless. Imagine something bad that could cause the 3 things above to happen – but in the near future, it's all just a dream.

In the last decade - bitcoin has gained so much exposure that it has been adopted by several countries. Bitcoin is a currency that is getting more and more attention every day - not only are certain individuals or groups interested, but governments are also starting to get interested in this industry. What he said is theoretically correct - but in reality, the bitcoin and crypto industry has grown rapidly and will continue to grow.

Bitcoin would go to Zero!
Bitcoin is dead!
Bitcoin is over!

If we do really just tend to look at on how long those sayings in form of list then it is really that long
but look at on where we are now?

Try to check on how many times Bitcoin died.

"Bitcoin is Dead" Declared 400+ Times
https://99bitcoins.com/bitcoin-obituaries/

When it comes into these kind of sentiments then its not really actually that new or shocking anymore specially into those critics.
They would really be always having to say, some are real opinions and views and some really just trying out to manipulate
on which they do really like to buy up Bitcoin in cheaper and this is why they would really be trying to make those price do go low as much as possible.
Its not something new into this market.

Bitcoin can drop to zero if it will die - meaning everyone would stop using it, or it would become unusable. But it's more likely that Bitcoin would just lose over 99% of its value if people would lose interest in it, or some major flaws would become uncovered. Because it's actually quite hard to lose all value, even beanie babies still have some value, but it's nothing compared to their peak.

So saying that Bitcoin can go to zero is not a good critique, but saying that it's fundamentals are not clearly understood and the future is not certain is a far better critique.

I mean, there's no need to be confused.

You can go down to zero. You can also go up to $100k. Talking about Bitcoin's price dropping to zero is not now because now what needs to be discussed is the opportunity for Bitcoin to reach a new ATH price.
Jon Cunliffe only said it could happen and Jon Cunliffe could not provide a definitive analysis both theoretically and practically.
You can also tell friends as Jon Cunliffe said if you have the analysis and ability to convince them.

The only times Bitcoin will get to zero is at the point where it is no longer used by anyone and probably turned worthless that's the only time because even when Bitcoin was first lunched it was done at a price (value) so these statements for me I see them as mere assertions and like he did said theoretically and practically which means he's looking at it from two perspective, with one it's possible and the other it isn't. Theoretically is more like on paper which entails that such really doesn't or may not happen in reality but practically will means when Bitcoin has successfully been replaced with something else and Bitcoin seizes to have value and such is something we are not expecting anytime soon.

It's more better and safe to utilize the opportunities the market avails you now than trying to focus on the negativities around it as it will only distract you from making good yes opportunities in the market, I see all those as speculative criticism which we shouldn't focus on.

1) IT can also theoretically raise to $1,000,000 or higher.

2) "If some mad genius develops mathematics yet to exist the 256 bit code could be solved in under a second." In fact it would look like magic to those with out the access to that new math.

But going into that world is much like saying someone could figure out eternal life  or levitate or resurrection.

BTW if someone figures a new math that allows cracking codes easy peasy they would be in great danger and may simply decide to let no one know what they can do.


They may just go to an early block address like this one and take the coins.

https://blockchair.com/bitcoin/address/17abzUBJr7cnqfnxnmznn8W38s9f9EoXiq

it has over 50 coins which is 2 million

The reason is just because there are still a lot of users so it's not easy for Bitcoin to go to zero and I think that's also quite reasonable apart from other reasons such as the arrival of the apocalypse. And through other things it can also be analyzed, such as the loss of internet for all areas which causes everyone to be unable to access wallets and important websites that are needed. Because this can also allow Bitcoin's value to disappear because no one else has access to the surrounding internet network with any disruption.

Seing this thread, you can't expect an ordinary bitcoin investors that have invested truly in this digital currency to assume something like this, bitcoin cannot go to zero, look at the present worth of this digital currency and also consider the way it will take to come down to zero as you have proported, you can see that it's a way too forward for something that is above $40,000 worth of value to come down to zero.

I mean... I wouldn't say "impossible", because we are in a world where even the strongest stocks, gold, dollar, anything you can think of can go to "zero", even if not like exactly to zero, it could be very low. But, we all know that just because there is a mathematical possibility of it, doesn't mean that it is going to happen, that is not how that works.

I do agree that the possibility is near zero, and it is just not going to happen and we invest accordingly, but that doesn't mean that we are going to end up with just a sure information or data that backs that up. It is not impossible, but it is as unlikely as anything can be, this is why we just do not consider that as a possibility anymore and look for something else.

Theoretically, anything can happen, that’s what the theory is for. But in practice, this is a completely different matter. In order for Bitcoin to fall to zero, all that is needed is for all exchanges to abruptly stop trading and hundreds of thousands of traders at one moment agree with this and come to the conclusion that from this second it no longer has any value.
This is why I think that this is practically impossible, because at the moment there is no such event, even in the near future, that will force everyone to abandon Bitcoin and drop its price to zero.

Possible? I'd say no, impossible these days.

Why?

How about those Bitcoins that have been lost forever, let's say someone took all of the circulating supply of Bitcoin just to control the volume and there will be no more buyers and sellers.

Will it be zero? no, there's still price in it but the problem will go with the liquidity and not with its price.

That is exactly right, we can never really know what is going to happen, we can all assume or make predictions but that doesn't mean that anyone really knows, that is just not the way it works. I believe that it is going to be quite tough for anyone to have anything that would predict anything.

We need to just realize that it is going to be a tough deal, and we need to end up with some trouble if we do not know what we are doing. So all in all, I do expect it to go unsure until the end of days. If it ever reaches zero, that is when we learn it could reach the zero level, and if it doesn't then we have no idea and we can't really know what is going to happen. That is just how it is, we can't go beyond that at any given moment.