How will it affect your life if Bitcoin price comes to zero per Bitcoin one day? - page 2.

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Quote from: krishnaverma on November 02, 2023, 06:09:19 AM

How will it affect your life if Bitcoin price comes to zero per Bitcoin one day? I have seen most of discussions related to Bitcoin price on pessimistic side only. But we should look at all the possibilities.

You will definitely get most discussions in a pessimistic mode if it's about the topic of Bitcoin going to zero. Who's going to be optimistic about that topic if it's useless because of it being zero?
When it becomes zero, people think that there is no more use on it and whatever purpose it has got is done then we will have to find another the same thing as Bitcoin that could grow in value over time and will also have the use case that we, everybody needs. But are we gonna find something as valuable as bitcoin whenever it becomes out of the league?

I don't think that we'll ever find something the same as Bitcoin because it's one of a kind. There have been other projects the same as is but never had been the same or at least close to Bitcoin because it is unique. So for my life if it becomes zero, just have to move on and do whatever I wanna do in life basically will just continue.

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You might mean optimistic. Many are indeed speaking about the good possibilities of Bitcoin in the future like it will rise back to its ATH or it will reach $100,000. Others are even over optimistic that they predict Bitcoin's price to the millions. I agree that we should all be looking at all the possibilities however unlikely they may be.

Personally, I've considered this already and if Bitcoin falls to zero, I will become poorer. I'm not afraid, though. I've been poor all my life. That's something I'm very familiar about. I've improved a lot now but I'm betting almost all I have on Bitcoin. Should I fail, I'll just go back to how I lived in the past. I won't have to enter a strange life.

But what really makes me strongly confident about my bet on Bitcoin is that it's really hard to fail. I mean look at what's available for us right now. Fiat? Not only is it under the control of abusers, it's fundamentally designed to continuously lose value. And there's no other alternative. So far, there's really nothing that seriously bothers me on my Bitcoin bet.

I admit, however, that Bitcoin being an intergenerational wealth is questionable. Technology is fast advancing. A hundred years from now, what technology would be capable of is unimaginable.

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Quote from: krishnaverma on November 02, 2023, 06:09:19 AM

How will it affect your life if Bitcoin price comes to zero per Bitcoin one day? I have seen most of discussions related to Bitcoin price on pessimistic side only. But we should look at all the possibilities.

I will wake up and find out that it is only a dream Grin

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Quote from: krishnaverma on November 02, 2023, 06:09:19 AM

How will it affect your life if Bitcoin price comes to zero per Bitcoin one day? I have seen most of discussions related to Bitcoin price on pessimistic side only. But we should look at all the possibilities.

That's unlikely to occur because when the price drops and people get worried, not everyone can sell their holdings. The lowest price might be $1, at least. Maybe the right word to use is 'drop' or 'collapse,' and it could happen, my friend. But let's not dwell on that because the cryptocurrency market is too vast to collapse. It's not controlled by a group of people; it's owned by us within the ecosystem. So, as long as there's demand for Bitcoin, there will be a price that remains, even if the issue of high volatility isn't resolved.

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Quote from: krishnaverma on November 02, 2023, 06:09:19 AM

How will it affect your life if Bitcoin price comes to zero per Bitcoin one day? I have seen most of discussions related to Bitcoin price on pessimistic side only. But we should look at all the possibilities.

It won't happen because with Bitcoin, there is NO MINT function like smart contract altcoins or tokens.

There will be never sudden massive appearance of new circulating supply like Do Kwon did with Terra and LUNA token (now is LUNA Classic LUNC). Without black swan event like this, Bitcoin will hold its price very well.

The trading volume of Bitcoin nowadays is big enough to avoid massive dump from market manipulation like what you are worrying.

How is the 21 million Bitcoin cap defined and enforced?

Quote from: satoshi on February 14, 2010, 10:52:23 AM

Right. Otherwise we couldn't have a finite limit of 21 million coins, because there would always need to be some minimum reward for generating. In a few decades when the reward gets too small, the transaction fee will become the main compensation for nodes. I'm sure that in 20 years there will either be very large transaction volume or no volume.

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How will it affect your life if Bitcoin price comes to zero per Bitcoin one day? I have seen most of discussions related to Bitcoin price on pessimistic side only. But we should look at all the possibilities.

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