Can bitcoins become worthless? - page 3.

Thecryptocurrency09

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Quote from: OninLoki on January 02, 2018, 08:12:21 PM

For me possibly to yes. History is littered with currencies that failed and are no longer used, such as the German Mark during the Weimar Republic and, more recently, the Zimbabwean dollar. Although previous currency failures were typically due to hyperinflation of a kind that Bitcoin makes impossible, there is always potential for technical failures, competing currencies, political issues and so on. As a basic rule of thumb, no currency should be considered absolutely safe from failures or hard times. Bitcoin has proven reliable for years since its inception and there is a lot of potential for Bitcoin to continue to grow. However, no one is in a position to predict what the future will be for Bitcoin.

Thinking bitcoin could be worthless is like thinking it would be out of style. Bitcoin run through years. And as then years goed by, it is more open to the public. Some country's government even patronise bitcoin, so does in our which a news was shown yesterday about its good deeds. This news gave others an openness and interest to be involved. That's why I guess it would be really worthless to think it will be vanished.

reymartH

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The value of bitcoin can't be negative, which implies one of two things. It can either be zero or greater than zero.

tanjiran

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Bitcoin can be worthless but the odds are very small. Moreover, bitcoin is the first coin in cryptocurrency, its fanaticism is hard to beat by other altcoin.
Bitcoin becomes worthless if no one deals with it, in other words there is no demand and offer to it from all the people on earth, is it possible?

DiscretePatriot

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I voted 'Yes', because it is a possibility if less and less people will use Bitcoin, then the value will drop. This is not so probable at this time though, but with Ripple potentially disrupting micro-transactions, it soon might be.

Chris314

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Yes bitcoin can become worthless the day no one will buy it anymore, because it wouldn't have reached its purpose or because another currency will do better what bitcoin was first created for.
But bitcoin has the ability to evolve, we saw it recently with the first successful lightning network payment. So bitcoin still has value and will have more in the future.

BlackPanda

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Quote from: gorodi on January 04, 2018, 01:04:11 PM

Quote from: OninLoki on January 02, 2018, 08:12:21 PM

For me possibly to yes. History is littered with currencies that failed and are no longer used, such as the German Mark during the Weimar Republic and, more recently, the Zimbabwean dollar. Although previous currency failures were typically due to hyperinflation of a kind that Bitcoin makes impossible, there is always potential for technical failures, competing currencies, political issues and so on. As a basic rule of thumb, no currency should be considered absolutely safe from failures or hard times. Bitcoin has proven reliable for years since its inception and there is a lot of potential for Bitcoin to continue to grow. However, no one is in a position to predict what the future will be for Bitcoin.

Bitcoin has not only information and the army of its believers, Bitcoin overcome the border between virtual world and reality. It built banks, spread widely ATMs. It have become the serious business brand.

Bitcoin is a solution for future money circulation. The form of digitizing currency is a new thing and Bitcoin was created to facilitate all the financial transactions we do. I am sure if one day Bitcoin can be accepted by all people in the world and most importantly Bitcoin is not owned by anyone, Bitcoin is a centralized financial system owned by us all.

EllaPonchik

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Dream of the Great

For me, it is also possible, in any case, no one can say for sure, of course in this world it will be used at a certain time, but what will happen next? This is for everyone a mystery

godrey123

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yes! I thibk that anything can happen in the future. Butcoin might become more valuable or it will become worthless. But I think bitcoin becoming worthless can only happen if government all around the world ban bitcoin and other crypto. Another reason is if internet goea down, but with the xontinueing developmwnt of technology, it think its unlikely to happen

Mind Control

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Bitcoin is just like fiat, its value depends on its user. Fiat has a value because the government says so, Bitcoin also has a value because the community says so. Meaning when the community decides that Bitcoin is worthless then Bitcoin is worthless. Old version of fiat becomes worthless because the government says so so the citizens believes them then the old version will be neglected. This would be a suitable analogy for the topic. Bitcoin can become worthless and it will depend on its community. Bitcoin's value is driven by the community so the value lies in its community.

Beymax08

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Yes theres a possibility of bitcoin become worthless when theres no one that is interested and no one want to use bitcoin anymore. And when it have no value anymore.

gorodi

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Quote from: OninLoki on January 02, 2018, 08:12:21 PM

For me possibly to yes. History is littered with currencies that failed and are no longer used, such as the German Mark during the Weimar Republic and, more recently, the Zimbabwean dollar. Although previous currency failures were typically due to hyperinflation of a kind that Bitcoin makes impossible, there is always potential for technical failures, competing currencies, political issues and so on. As a basic rule of thumb, no currency should be considered absolutely safe from failures or hard times. Bitcoin has proven reliable for years since its inception and there is a lot of potential for Bitcoin to continue to grow. However, no one is in a position to predict what the future will be for Bitcoin.

Bitcoin has not only information and the army of its believers, Bitcoin overcome the border between virtual world and reality. It built banks, spread widely ATMs. It have become the serious business brand.

randal9

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if we talk about probability, then probability is always present, but there is no reason for this at the moment...therefore it is necessary to live now and use the opportunities given to us

bakkang

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Quote from: kc999991 on January 02, 2018, 08:44:24 PM

Yes it can be possible for Bitcoin to become worthless. When the world goes against it and make it illegal to use then it will become nothing in no time. It is hard to predict if this will ever happen though.

Well there would be possible that it will be happened in the bear future if and only if there would be no users and investors. But I still believe that bitcoin will never be worthless since it was the most strongest crypto ever. Though there's a lot of people who regulate bitcoin but then again bitcoin will continue to rise

alexsandria

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Quote from: OninLoki on January 02, 2018, 08:12:21 PM

For me possibly to yes. History is littered with currencies that failed and are no longer used, such as the German Mark during the Weimar Republic and, more recently, the Zimbabwean dollar. Although previous currency failures were typically due to hyperinflation of a kind that Bitcoin makes impossible, there is always potential for technical failures, competing currencies, political issues and so on. As a basic rule of thumb, no currency should be considered absolutely safe from failures or hard times. Bitcoin has proven reliable for years since its inception and there is a lot of potential for Bitcoin to continue to grow. However, no one is in a position to predict what the future will be for Bitcoin.

I think yes, at somehow point it will be if many people that are users of it today will not even care of it in the future. I think bitcoin value is actually depend on the users on how they use bitcoin. I think bitcoin will be worthless if there we make it to the point that no one cares about bitcoin and it somehow will replace by another better and good cryptocurrency. But for me I think we will not reach that point because we all know that people nowadays are into bitcoin and it will never ever change, I guess.

ihsanskanzaone

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Of course bitcoin will be worthless if bitcoin users have started to disappear or start switching using the latest digital currency that is considered better than bitcoin so it can make bitcoin prices go down and slowly become worthless. all that is not impossible if bitcoin not immediately improve the quality of transactions and lower transaction costs because it is considered too large what else to make transactions in small quantities.

LightNestling

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I think its possible, but not in the near future nor in our generation I guess. Although bitcoin has already surpassed our expectation and suddenly reached the 20k mark, I don't think it will be over soon.

BlackRacerX

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Bitcoin crashes have recorded that bitcoins have become somewhat worthless before. So I think it is possible bitcoins may all of a sudden become worthless given that someday, some massive crash or some sort of catastrophic event happens to bitcoins' totality. But with a lot of people supporting bitcoins, I highly doubt it will happen.

albert11

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Quote from: mk4 on January 02, 2018, 08:49:07 PM

Theoretically it can, but personally I think this is very unlikely due to a good number of people in the crypto space that are really really dedicated to ensure bitcoin's success. Though I also think it only takes one sort of ban from a huge country like the United States to crash bitcoin's price to 3 or even 2 digits.

- just my 2 satoshis

I agree with what he said. Everything can happen to bitcoin, either increase or crash. No one can predict about what will happen in the future. What we are sure about is that there will be lots of changes from time to time but we don't know what will cause it. As long as there are a lot of people who believes in bitcoin and the different infrastructures around it, bitcoin will still remain.

malika

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Quote from: OninLoki on January 02, 2018, 08:12:21 PM

For me possibly to yes. History is littered with currencies that failed and are no longer used, such as the German Mark during the Weimar Republic and, more recently, the Zimbabwean dollar. Although previous currency failures were typically due to hyperinflation of a kind that Bitcoin makes impossible, there is always potential for technical failures, competing currencies, political issues and so on. As a basic rule of thumb, no currency should be considered absolutely safe from failures or hard times. Bitcoin has proven reliable for years since its inception and there is a lot of potential for Bitcoin to continue to grow. However, no one is in a position to predict what the future will be for Bitcoin.

It could possible but not this time Bitcoin is still on its peak of popularity and the value really boost so high so it might take years before it become worthless. We just cant tell how long before it will become worthless.

AnnarioN

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If the bitcoin die all other cryptocurrencies will die so-no.

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