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Topic: can my bitcoin drop to nothing - page 8. (Read 5482 times)

legendary
Activity: 1708
Merit: 1036
March 09, 2017, 01:06:22 PM
#4
It's like owning a share of stock - the value can go up or down. A company can go bankrupt, its shares can then become worthless. If bitcoin fails to compete well with fiat or other altcoins it could likewise become worthless. (By contrast, something like gold is probably not going to become worthless even though its value fluctuates constantly like bitcoin).

Mr. Rabahy's advice is good: if you need to put food on the table, by all means sell your BTC. If not, do some research and see if you can find a better alternative. Hint: In essence you can speak of the value of dollars/euro/yen/etc fluctuating relative to bitcoin, instead of the other way around. They also can become worthless in the future, as historical examples of fiat currencies prove. So consider that before selling any bitcoin just so you can have more fiat.
hero member
Activity: 1456
Merit: 624
Maintain Social Distance, Stay safe.
March 09, 2017, 01:03:23 PM
#3
so I got my first 40$ worth of bitcoin i noticed that the that the 40$ goes up and down. Im scared that it will go to 0$ is this possible?, Should i spend my bitcoin on a giftcard? any help please
Its impossible that the price will down to $0 maybe in few percentage will decrease the value of bitcoin but right now i notice that the price of bitcoin is going to increase back and i think there are just few people are selling their bitcoin due to the news they heard about ETF rejection..
hero member
Activity: 709
Merit: 503
March 09, 2017, 01:00:25 PM
#2
Yes, there's a very small chance the exchange rate could drop to nothing.  In my humble opinion there's a much greater chance that it could rise considerably in the not too distant future.  Are you hungry or have other basic needs at this moment and no other way of fulfilling them?  If so then convert your Bitcoin into that need.
newbie
Activity: 5
Merit: 0
March 09, 2017, 12:57:05 PM
#1
so I got my first 40$ worth of bitcoin i noticed that the that the 40$ goes up and down. Im scared that it will go to 0$ is this possible?, Should i spend my bitcoin on a giftcard? any help please
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