Topic: How bitcoin price could go to zero? (Read 267 times)

I think you are exaggerating things. Bitcoin value could never become zero. But for your pleasure, its value will become zero if the developed countries and the rest of the world would ban Bitcoin, which seems very slightly.

If the internet stops working,bitcoin is among the top  10 things we should worry about,so even in the worst -case scenario,it is unlikely that bitcoin become worthless or zero value.Rather,the price will keep growing as it gains more adoption

I admit the probability that its price will be zero, since aluminum in the Middle Ages was a precious metal, and now it's not very, so can bitcoin! My personal opinion is that if bitcoin is a puffstick to him, 99.9 percent of someone will come to replace, because people know what crypto currency is, blockchain and just do not give it up!

If a much more superior alternative to bitcoin is created,, the price will obviously drop significantly but I don't see it ever reaching zero. It's already made history as the first currency of it's kind and people will always want it.

I don't think that price of BTC can be zero.Becase it is basis on the demand supply rule. And number of BTC is limited.So it's demand will be high when no more BTC can be generated.And at the same time value of BTC will zoom to a new high.

Governments of different countries have an influence on the rate of crypto, the only way to save your money, follow up news and sell your crypto on time.

I doubt it'l ever go to 0. If it would have gone to 0 it would have done so by now.


The internet goes down
The internet, just like bitcoin is decentralized. Unlike that one South Park episode, there isnt a router that you can turn off and on again. It cannot completely go down. There are no central "servers" that run the internet. Maybe google DNS and so on are sort of central points of failure but other DNS servers would take over in their place. If some major ISPs go down (which is possible if someone REALLY screws up when they make a change to their network). This would again only impact that ISP's specific network. Most major ISP's run multiple networks too, which makes a single ISP going down completely even more highly unlikely.

Its decentralized
So we confirm we can't take down the internet to kill bitcoin. Next option to kill it is to block bitcoin traffic on the internet. We have no single server so we have to block the protocol somehow. A bitcoin transaction can be encapsulated into anything, even an emoticon. A government cannot possibly inspect all packets passing through all ISPs in their country to identify SHA256 hashes. Even if they could, we can just encapsulate it into another encryption standard or use a VPN.

No more demand
Here is the biggest reason itl never  go to 0. I would sell everything I own and all in on bitcoin if I get the opportunity to buy at 1$ again. Everyone who believes in the technology will buy up all the bitcoin more and more the lower the price gets.

Governments cant afford to kill it anymore, even though they physically cant
Bitcoin has become too valuable and too much wealth is stored inside it by now. Banning it would mean putting millions of people into poverty or at least significantly impacting them economically. As time goes on this becomes more and more of a factor. The price of the bitcoin network is becoming high enough that even a Government cannot afford to attack it.


51% attack
Someone mentioned a 51% attack in this thread. Go check out Andreas's videos on that where he explains what it actually encompasses. It is actually damn near impossible to perform one on Bitcoin. You realistically need around 70% of the  hashpower to outmine the main chain at a reasonable speed. Then the difficulty increases and you need to further increase your hashpower significantly in the next 2 weeks. All whilst getting paid 0 and having massive bills to pay for all the equipment and electricity.
People forget that the main chain continues to mine. If you consider the price of the network and the fact that you get paid nothing for attacking it.. it is economically impossible to pull it off.

Btc will become worthless(go to zero), when miners have to invest more into electricity etc, then the worth mining btc. First scenario: miners move fast to mine an other crypto. Second scenario: miner will go insolvent. When this happens,the btc network will be unstable and then it will go down.
So you see electrity costs are increasing, so the price also has to. So the question is just what happens first: will the price go down or be the same as the miningcost, for a longer time. Or all coins are mined. Btc will be worth zero.

By the way if there is no demand for the bitcoin the the price will go to zero.

But I don't think it will happen through shutdown of the internet in the whole world because most of the process in the world heppening throgh internet if it stops then the whole wold will be chocked and bitcoin price may not be the problem,but how can internet can be stop working?it maybe stop work for some seconds but not the permanently so there is no problem with it.

I don't say it will never reach zero because already there are lots of governments are trying to control the bitcoin,if all the government in the world go against bitcoin then it may lose its value.

I don't think the value of bitcoin is going to be zero except for the Internet being shut down. I can't think of any other reason. If all countries in the world ban bitcoin, its value will not be reduced to zero.Because someone always accepts bitcoin and buys it.

Bitcoin price could go to zero if there is no one to by bitcoin anymore. If investors or traders focus on other coins and the popularity of the coin will rise and the hype of it. If no one will buy bitcoin, every one who holds it will sell immediately. That may be a reason for the bitcoin price to go down. That's only a n opinion.

The only thing which drives value/price of Bitcoin is: TRUST!

People have trust in Bitcoin and that is giving it a value. If something happens in future which will break this trust then the price could go to zero. As per my view, the biggest threat would be hacking or some attack (like 51%, though highly unlikely to happen) that can play instrumental role to loose trust in BTC. If that happens that plummet and can go down to 0.

Why do you think so, if bitcoin drops to zero means bitcoin is dead and not used anymore. But I think it's hard to happen considering the popularity of bitcoin is increasing.

Large security breaches making people loose faith of government putting its foot on btc neck

are you sure that bitcoin will never go to zero? what reason makes you sure?

do you realize that if yesterday's drastic drop to the point of $ 6000 is proof that bitcoin can get to zero?

just because there is some great support from some parties, eventually bitcoin back up. what if without support today?

Technically, its possible for bitcoin to go to 0. But in reality, I doubt that it will happened even if the Internet stops working as you have portrayed. The only possible scenario that will hamper everything is that if miners simple stop mining bitcoins, simple as that. If they completely abandoned it, no new transactions can be processed meaning it can't be added to the blockchain. Not even government banks can stop bitcoin and cryptos for that matter, and as long as miners continue to mine, bitcoin can't reach 0, IMHO.

if really internet went down in the whole entire world then the value of bitcoin would be the less thing to worry about , so don't worry about it
also some people saying that if countries banned bitcoin same thing will happen , but here is the thing it will never reach zero there will always be interest in bitcoin even if it's totally illegal just like drugs or weapons

there will always be market for bitcoin and it can't reach zero

this is not possible, the worst thing that can ever happen to any cryptocurrency network is when it blockchain is broken, this has previously happen to bitcoin when its at it early stage and the problem was resolve with immediate effect.
bitcoin can never go to zero.

I do not think that scenario is a likely posibility.First of all,bitcoin in recent times is increasingly being used as a store of value,if not as a currency.there also the part that bitcoin has an intrinsic value,it cost about a thousand to currently mine bitcoin.that to me is like a bench mark for assessing the bottom value of bitcoin.

The biggest threat to Bitcoin is probably if major governments were to ban Bitcoin. If it were illegal in the major countries, this would make demand drop dramatically and the price would drop.

I think the next biggest threat would be if fees went astronomically high to the point that no one would use it.

Finally, another threat would be a 51% attack where someone would control Bitcoin.

I think there is a low probability of any of these issues to happen.