If the current Bitcoin suddenly becomes a bubble overnight and never recovers

wxa7115

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Quote from: TOM Bb on May 25, 2021, 01:57:01 AM

If the current Bitcoin suddenly becomes a bubble overnight and never recovers, what will happen to the world?

But why would such thing even happen? If you are going to propose such a scenario at least put forward how do you think such thing could happen. Bitcoin can produce bubbles and then crash in price, we know this happens and there is plenty of evidence for that, but we also have evidence of bitcoin recovering and going up in value after some time as people adopt it.

So the scenario that you are proposing seems impossible, especially since we live in a world in which governments print fiat money and slowly but surely people are waking up to the fact this is impossible to maintain long term.

erep

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Quote from: TOM Bb on May 25, 2021, 01:57:01 AM

If the current Bitcoin suddenly becomes a bubble overnight and never recovers, what will happen to the world?

I didn't think that many people overreacted to the decline in market prices or vice versa, there is no need to waste time thinking about the impossible that will happen, there are many other things that should be the main thing to think about daily or long term profits.

Quidat

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Quote from: TOM Bb on May 25, 2021, 01:57:01 AM

If the current Bitcoin suddenly becomes a bubble overnight and never recovers, what will happen to the world?

Nothing!

We would just simply go back into those times where all of us is heavily dependent with heavily centralized fiat money which
the government is producing on and i dont know on why people do really have this kind of thinking?
Do they really believe that the world turn around just for BTC? Everything could be a mainstream and also it can be forgotten
but doesnt mean that it would be over or end of the world.

There would be always an alternative because people wont able to live if monetary thing doesnt exist on the first place.

justdimin

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Quote from: philipma1957 on June 03, 2021, 06:49:14 PM

If all crypto coins that are POW fail as I type this the world will get over it and not give a fuck about it in a few years.

The industry wealth is small in comparison to the world's wealth

Note I said all POW coins meaning someone cracks all the algorithms.

I make the assumption that is a possibility.

Lol, I do agree with you but I think it will take different periods for different people. I mean there are few groups that would not care at all even today, like they will continue to ignore it like they are doing right now, there are group of people who will be a bit upset about it now, but will grow out of it in few months at most, and there are groups that will have to take maybe a whole year to recover from it but get back on their feet, and there are lesser extend people who will take a few years to recover and have trouble during that period but eventually will find a way.

At the end of the day there are only just a few people like me who would never be able to recover, not just because of financial situation because I am sure I will have maybe a year financially terrible but I will probably find a job, and just live a normal life, however I can never forget the past 5-6 years in crypto, not until I die, I will keep talking about it with people who are like me on online forums, probably here Cheesy

.

proudhon

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Bitcoin did become a bubble. Not overnight, but over 10 years. The bubble has popped and it will never recover.

inanilujimi

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The world will basically continue to run as usual, only bitcoin holders will have the impact of the bubble, but before the bubble occurred until now I never thought that any major event could destroy bitcoin because it is Decentralized which is not bound by any rules.

Silberman

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Quote from: philipma1957 on June 03, 2021, 06:49:14 PM

Quote from: TOM Bb on May 25, 2021, 01:57:01 AM

If the current Bitcoin suddenly becomes a bubble overnight and never recovers, what will happen to the world?

If all crypto coins that are POW fail as I type this the world will get over it and not give a fuck about it in a few years.

This is only true for the average person, I understand the average person conforms the majority of the people however there are two groups which will care, one of those groups is us and I do not think I need to explain why, however I think those that are in positions of power right now will care as well, for decades there has been a war against cash as they want to know what you are doing with your money and if possible block you to do what you want with it, but bitcoin offers that liberty something they do not like, so if bitcoin and the rest of the coins we have in the market disappeared that will offer them relief that whatever they are pursuing will eventually become a reality.

philipma1957

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Quote from: TOM Bb on May 25, 2021, 01:57:01 AM

If the current Bitcoin suddenly becomes a bubble overnight and never recovers, what will happen to the world?

If all crypto coins that are POW fail as I type this the world will get over it and not give a fuck about it in a few years.

The industry wealth is small in comparison to the world's wealth

Note I said all POW coins meaning someone cracks all the algorithms.

I make the assumption that is a possibility.

coin-investor

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Quote from: TOM Bb on May 25, 2021, 01:57:01 AM

If the current Bitcoin suddenly becomes a bubble overnight and never recovers, what will happen to the world?

Those who did not sell it in time will lose a lot of fo money but the world will still be the same, not everything depends on Bitcoin but the world and humanity will continue to evolve and will continue to find technology for the betterment of humanity, but I don't see this happening, the world no wid to deep in Cryptocurrency, it's already mainstream if Bitcoin fails other coins will emerge to take the place of Bitcoin.

Silberman

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Quote from: TOM Bb on May 25, 2021, 01:57:01 AM

If the current Bitcoin suddenly becomes a bubble overnight and never recovers, what will happen to the world?

While that is never going to happen this would be a considerable blow against the liberties of the people, right now we are facing a battle, government and corporations want to centralize everything and gain access and control of your personal information in an attempt to have complete control over the economy and its participants, bitcoin offers the opposite, bitcoin offers you complete freedom to do as you please, if bitcoin losses the battle then I doubt we will see any legitimate attempt to decentralize the economy during our lifetimes.

proudhon

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Quote from: TOM Bb on May 25, 2021, 01:57:01 AM

If the current Bitcoin suddenly becomes a bubble overnight and never recovers, what will happen to the world?

What will happen is what is happening, because bitcoin did become a bubble and it will never recover.

Fundamentals Of

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Nothing. The world will go on, business as usual. Something will happen to those people who have Bitcoin. They will lose some of their worth. But the rest will not be that much affected. Bitcoin is not as vital to the world as you may think, at least today. The year will come it will have a larger role to play in global finance though. But it has yet to happen. For now, even though Bitcoin is already in the mainstream, I think it won't affect the world's financial stability if it suddenly crashes.

poodle63

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Well that's a big if but what another outcome you expect from such crisis to happen? it's definitely gonna be like dotcom bubble
many people gonna be devastated but we move on and everything become normal again, however I need to point out that bitcoin bubble doesn't seem
to be happening in the future, but I could be wrong however the development of blockchain from many sides help solidify blockchain based product in the market
that it will be more resilient compared to the dotcom hype, but that's just my opinion from a beginner like me, anything could literally play out in the future so stay
vigilant.

Velazqe

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Nothing will happen. The attribute of investment is that there are gains and losses. High returns must be accompanied by high risks. Bitcoin is a string of digital codes, which has no value in itself. Its value is given to it by its believers. As more and more people believe in its value, its price will become higher and higher. It is like a famous painting. The paper and ink itself is not worth much. The value is given to it by people. Painters, painting styles, allusions, etc., are all factors that make a painting valuable. Similarly, the more people appreciate it, the higher its value.

Lucy Bitcoin

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This is a crazy idea. I don't think bitcoin will turn into foam. Maybe copycat coins are possible.

With the development of blockchain technology, the market of cryptocurrency and bitcoin is booming, and countries are more closely connected, which means that bad things will not happen.

PIR

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well if that happened it's as if its nothing and never been created, but as you can see bitcoin is still here and still many investor wants to invest on it. bitcoin may go up and down but never become bubble because many people believe in it and has been tested for a years and so those who've known it can attest to it.

ecnalubma

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If that crazy thing happened I think people will be very frustrated and unhappy, but if you believed in Bitcoin’s fundamentals it’s unlikely to happen because it is created with a unique purpose. If people really intended it to die they could have done it earlier but look at it now after a decade people still want a piece of it.

Nunoluck

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For me that is just over thinking about current market situation. That way of thinking is what made me loss alot of money. When I have a numbers of BTC (maybe 2 or 3, I forget) my family strongly push me to sell all of my btc when bear market is coming at that time and I can't resist that. I tried to understand them because my family is poor so I sold most of them and leave some because I believe that bitcoin will be something bigger in the future. At that time I don't understand what cut loss is so I just withdraw all the money. What I understand now is I should not sell my BTC when the price fall too deep or almost reach the lowest level, If I want to sell I have to sell before or at the peak of bull run or when the price fall 10%~25%.

nurilham

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Are you a newcomer, bro? Have you learned deeply about Bitcoin and its market?
Bitcoin may be a bubble in the past, but it is not today. There are too many parties involved in the crypto industry, we won't let Bitcoin be a bubble and not recover. Instead, Bitcoin will be stronger with more supports from popular companies and people around the world. Even top football clubs and famous people have their crypto coins right now. How can this will be a bubble, bro? Wink

nightrider

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Quote from: TOM Bb on May 25, 2021, 01:57:01 AM

If the current Bitcoin suddenly becomes a bubble overnight and never recovers, what will happen to the world?

If Bitcoin suddenly becomes a bubble overnight and never recovers, the world right after is very bad. Many companies, investors, Bitcoin players will go bankrupt and suffer heavy losses. I don't want that to happen because all my assets are in Bitcoin. Bitcoin becomes a bubble then it will explode or evaporate immediately, my chances of making money will be gone. The press and media will begin to cover Bitcoin. A few years later everything will settle down and no one will remember BTC

blockman

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The world will don't care if that happens. There might be another run that shall on bitcoin because you cannot stop us, the people that are believing on bitcoin. If the crash happens and it's really bad as you're imagining, you'll see a lot of people and even the whales will get all of those bitcoins at sale. It's highly unlikely that bitcoin will never recover. With its attitude and characteristic, being volatile makes it even more easy to recover whether an overnight bubble burst will come.

Chathusand

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You'll see the market picking up the pieces as if nothing occurred in a few days. If you have any doubts about Bitcoin's ability to make a spectacular recovery, simply go to that timeline. What was the last time Bitcoin was pronounced DEAD? Surprisingly, no one has declared it dead as of yet. All because we are aware of its history and unquestionable resiliency.

Argoo

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Quote from: TOM Bb on May 25, 2021, 01:57:01 AM

If the current Bitcoin suddenly becomes a bubble overnight and never recovers, what will happen to the world?

Bitcoin can drop very much in price, but it is unlikely to ever drop to zero. Even if this happens and bitcoin loses a significant part of its price, this means that its holders will suffer very large losses. However, the world of cryptocurrency will not collapse, there are already more than ten thousand altcoins and many of them are quite useful and convenient for people. Altcoins will already exist anyway, even if something happens to Bitcoin.

Obito

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Quote from: ROSE B on May 25, 2021, 02:02:01 AM

Nothing will happen, at most you will see a lot of social news about suicides, jumping from buildings, bankruptcies, and then in the next few years the world will be like Bitcoin that has never appeared.

That's a bit far fetched, there was stock market collapse but the myth of people jumping off the building is persistent that you thought it is going to happen to crypto too. Remember that there is no trading firm for crypto so how will they even jump. Maybe the world will move on but I am pretty sure that there will be a lot of people that aregoing to stay faithful hoping that everything will go back.

DapanasFruit

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Quote from: TOM Bb on May 25, 2021, 01:57:01 AM

If the current Bitcoin suddenly becomes a bubble overnight and never recovers, what will happen to the world?

The question and concern of Bitcoin being a bubble has had been discussed so many, many times not just in this forum but also everywhere there is a topic on cryptocurrency. And many times over, it is proven that Bitcoin is not a bubble and is here to stay for good. I understand that newcomers to Bitcoin can be afraid that one day Bitcoin will just go worthless or zero in value. I am happy to note that as of now, it is not going to happen. The current dip is not the biggest downturn for Bitcoin - in fact, this is just peanut and very temporary.

Days from now, you see the market picking up the pieces as if nothing happened. Just skip into that timeline in case you are in real doubt of Bitcoin's capacity for a great comeback. How many times had Bitcoin been declared DEAD? Amazingly, no one is declaring it to be dead as of this time...all because we know its history and its unquestioned resiliency.

BETTY B

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It's possible to become a bubble overnight

I can't recover anymore, it's totally impossible

Unless there is a disruptive storage method

ROSE B

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Nothing will happen, at most you will see a lot of social news about suicides, jumping from buildings, bankruptcies, and then in the next few years the world will be like Bitcoin that has never appeared.

Prettyjing34

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Suppose that one day Bitcoin suddenly plunges overnight, and from then on it begins to fall. There must be people who want to liquidate their positions. The liquidation comes in batches. Whoever has higher leverage will be reported first. If someone is in debt to buy coins, they will sell their house and sell their car to repay the debt after the liquidation. Remember that a couple brought them some time ago The tragedy of children jumping into the river together. There is no product that only rises and does not fall. There must be a bottom line for this type of investment: no leverage, control of positions, and no borrowing to buy. Big boss Musk bought 1.5 billion usd of Bitcoin, which is a very low proportion of his company's total assets and can be ignored. Even if Bitcoin drops to zero, the boss has nothing to do. It is more likely that the big brother will only start to fall after it is sold out. How can sickle and leeks be compared together?

TOM Bb

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If the current Bitcoin suddenly becomes a bubble overnight and never recovers, what will happen to the world?

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