Topic: If cryptocurrencies disappear - how will your life change ? - page 2. (Read 1934 times)

It'll be disastrous if such a thing were to happen because cryptocurrency have become part of our lives, I don't even like to imagine such a scenerio. Losing a valuable investment asset like Bitcoin where people can hodl for years and plan their retirement will be heartbreaking, many people will become hopeless and poor. Many people depends on cryptocurrency as their sources of income from miners to traders and the exchanges, the world wouldn't be the same without it.

I guess that anything that will disappear cryptocurrency will also affect most things that depends on the internet to work. Communication, banking system and the entire social media will also shut down. There'll be so much confusion and it'll be catastrophic, I hope that something like that never happens.

Exactly,  it's going to affect a lot of us financially and mentally. If cryptocurrency just disappears without prior notice, it's going to affect a lot of crypto traders and Bitcoin traders because a lot of us are holding our coins and we intend to trade it when we see potential in the market. So if there is a prior notice, it's going to affect us, but not as much as when you were not informed. Then you will be able to plan ahead, you will be able to trade and convert your money and get it in your bank accounts.

But if it just comes out of the blues, then it's going to shake the market, it's going to shake a lot of people, it's going to cause a lot of financial breakdown for some people. A lot of people are saving; they are holding for the long term; they see Bitcoin as a long-term investment. They have long-term investments with crypto money, so if crypto just disappears, it's going to cause a lot of issues, going to bring mental problems.

You know, some people put a lot of money into holding crypto, so if it just disappears, some people might even be pushed to depression. And some affected people will be disconnected from the world.

But I don't think crypto will just disappear. This is a long-term investment, an ecosystem that has been built over time; the ecosystem cannot just disappear. There are slim chances that crypto will just disappear just like that. So let's keep our fingers crossed and be positive that Bitcoin will not just disappear.

I see what you mean and I agree with what you say but what I'm talking about is the financial markets, I'm not comparing the value of fiat to inflation-proof assets like bitcoin. If you are looking for an asset that can protect the value of your money from being eroded over time, then choosing bitcoin is a much better solution than holding fiat.

But what I want to talk about is the brutality of the financial markets, where there will be winners and losers, and the losers usually outnumber the winners. If you want to take profit, how will you sell your bitcoins if no one wants to buy at a high price? You need liquidity and people who buy at high prices will likely lose money if they can't hold until the price goes higher and sell in panic. That's the nature of the financial markets, where people take money from each other and no one helps anyone. Just as we often hear stories about people making huge profits in the market, there are also stories about people losing money and even going bankrupt. Not everyone who invests in bitcoin makes a profit.

I wouldn't suggest to invest anyone's fund to invest maximum in crypto if they don't know what they're doing. It's okay to do what you know you are okay with but if someone only has his life savings and don't know how to grow that well, it's better to invest little by little to understand how it is going to be.

Not because someone invests on it and they've seen it from the others that they have put all that they have, that doesn't mean that it is their everything. It could be that they have a big portion on it based upon looking but that's not all that they have in terms of asset management and investing. Everyone who invests in market understands the risk and if crypto disappears, it's for sure that everyone's life will turned upside down and that's one of the biggest changes that everybody will have.

cases like this when it comes to any form of investment it is not everyone will make money from it, some people hear that from day one they have not made any money from investing or even trading bitcoin and it won't be because of the market but because of lack of understanding that they have, and that is why they will always advise you to make a proper inquiry about bitcoin before you start investing, not just jumping and people that are yet to start investing are better just as you said and those that are investing and they are not making money just because that lack qualities of things that they need to invest in bitcoin, the only effect that cryptocurrency disappearance will cause will be when they run away with peoples money than there will be an issue and that will like be from the exchanges. I know authorities won't take such matters seriously and am sure that nothing will ever happen to cryptocurrency it is not going anywhere since governments are already making it an alternative currency.

While you are right about the market part, currency part you might be wrong. Crypto, specially bitcoin was created so that we do not lose our money, the reason is that it's limited and decentralized. We are losing money at fiat because it's limitless, they can print however much they want and that causes your money to become less valuable and you get poorer because of that, bitcoin doesn't have that and you keep gaining value the more you hold it. That's just one part of it, it's also decentralized, meaning that nobody could really do anything about your money, if you have it in your wallet then you have it in your wallet and there is no returning back from that, whereas in fiat there could be a lot of things that can be done about it.

I personally suggest that crypto is something that is designed to make sure that we do not lose, maybe not win, but not lose at least and that is why I think it's much better than fiat, and that is why it's great idea to just buy and hold as long as possible.

Of course, no one here wants it to disappear or have anything serious happen to it, but life is always full of surprises that we never anticipate. Especially with a young and risky market like crypto, so don't put all your assets into them, don't put all your faith in them. Put your eggs in multiple baskets and only invest what you can afford to lose in a risky market like crypto.

You need to remember that no asset or market can bring high profits and safety at the same time, everything is proportional to each other, and high profits will come with high risks and vice versa.

Of course, in my opinion, cryptocurrency is another option as an investment vehicle and not a mandatory necessity. It will disappear if it is felt to be no longer useful, this usually occurs when the level of trust in cryptocurrency no one is buying it anymore fades, disappears by itself. So far, the enthusiasm is still quite strong. Yes. Most of those who are successful are those who consciously and patiently invest their funds to the maximum.

Well if we mean this like all the crypto will become worth zero then I think I will be very depressed. But I think there is going to be alot of people that are feeling like that.
And if there is no blockhain anymore, there is going to be alot of companies that cannot be successful. There is alot of money they did invest in the technology. We will survive but it will be sad for us.

I only got to know about cryptocurrency not too long ago I would honestly feel devastated if it disappears without a warning or something, their are many of us here that has over 30% and 50% of their money invested in cryptocurrency and I will really feel bad for them, but hey, crypto isn't going anywhere especially not now that I'm into it and have made plans on my investment strategies.

Will people recover their losses or will they lose more?

Any financial market is no different from a battlefield, if you want to win there is only one way, you have to fight and keep fighting, otherwise you will die. No financial market was created to help people escape poverty or help each other. They create a playing field for us so they can take our money and we will have to take each other's money, money will move from the weak hands to the strong hands. That is the immutable law of financial markets.

We will return to the way it was before everything was created and perhaps the effect will greatly affect the people who have been involved in it. The change is how someone will look for other sources of income to continue living, whether it is investing in other instruments or running a business. If it were me, I would try to find luck in the field of animal husbandry or agriculture because I like both and in the area where I live there are also good prospects.

Furthermore, the disappearance of cryptocurrencies will have an impact on those of us who are looking for money in this industry because maybe it is our habit. But for those whose finances have improved, they can switch to other investments that may also have good prospects, such as buying stocks and so on.

See, for those who are directly dependent on Bitcoin i.e. most of their lifestyle is related to Bitcoin, if Bitcoin suddenly disappears, it will definitely have a huge impact on their lifestyle. Since they have made their entire lifestyle dependent on Bitcoin, their lifestyle will be severely strained until they adopt an alternative system. Organizations that depend on Bitcoin will certainly insist on an alternative system in the event of Bitcoin's demise.

It is highly unlikely that cryptocurrencies will disappear as vested interests won't let it happen so, however, in the worst-case scenario, if it so happens, it won't impact my personnel life in a big way as I have only 20% of my assets invested in them. The governments all over the world including USA have spent considerable time to regulate crypto currencies, the lawmakers prevent such action from the government as it would be against the interest of the general public who have made contribution for the growth and development of this innovative industry.

The world will continue to turn even though Cryptocurrency has disappeared from circulation. Initially, it is clear that there will be a great sense of loss, especially for investors who have been involved in the Cryptocurrency sector for a long time and have managed to gain a lot of profit during that period. But as time goes by, the feeling of loss will disappear from memory by itself, this situation is the same as when someone loses the most loved person in their life, this feeling is only temporary and will return to normal by itself. This is the reason I don't want to rely on Cryptocurrency alone for income because when something unexpected happens, I don't lose my source of income.

huge change tbh, crypto is one of my safe haven today and what brings food to my stomach.

Even I do have fiat, this will greatly affect my current status today so yes, I don't want that to happen and hoping to have a longer time in crypto.

This can be very relatable. I will lose most of my clients who give me jobs because most of the jobs I get are blockchain and Web 3 projects. Unless i will find another niche and start building my portfolio. However, it will still take me months or years to get back on my feet completely. These days having well-paying clients and who still returns regularly for jobs is a big deal. Imagine you can't afford the house or pay your bills anymore. That feeling is depressing. After all the years of gaining knowledge on blockchain and cryptocurrency then it stops someday it will be painful.

People will move on. There are a lot of jobs and other areas of specialization that are benefiting people a lot. The fast and smart ones will quickly start learning new skills or take the profit they had from their asset to start a good business. The end of cryptocurrency cannot be the end of the world or stop people from moving on. After all many good things and opportunities has come and gone. Persons who adapted it from the start benefited from it before it crashed. So its not gonna be a new thing anymore it will only hurt for a while and then everybody keeps moving.

Actually a lot of people have been doing well  before the adoption of cryptocurrency, there are a lot of people who decided not to go into this crypto space yet they're still in a better position. So for me I don't think if the disappearance of cryptocurrencies can affect me in anyway rather I will just feel depressed for sometime, reason is because is also one of the source in which one can make money online without stress but I hope this is just an exaggeration because most people are surviving due to the help of this cryptocurrency.

blockchain is a big platform so that many peoples are involved in this industry, they will lose their job and it might be difficult to manage another job in the other filed because job market condition is very bad and job crisis is going badly in the world, so without experienced to get job in another sector it will very difficult.

A large is an atom in the universe if you are using Bitcoin, we have more number of people doing altcoins than just the Bitcoin maximalist and the world hasn't gotten to that stage where the everyone is doing crypto. If you think the adoption of mini games like that of Telegram is a game changer, then I think that's not accurate because majority of people in crypto prefer to do airdrop than invest their money into crypto. In fact, plenty of people prefer free money in crypto than putting there own money in crypto.

If crypto disappeared, I think we will be the only ones affected since many of us earn through crypto and has depended on them for leaving. People that are using it for privacy sake will miss it and will be hard to get a replace. The  government might win the war of cryptographic transaction and lastly, I have a feeling that government is going to make a replica of crypto and force it down on its citizens throat so they can be the ones controlling cryptocurrency and increase their own growth and value.