Suppose you woke up tomorrow morning and found that Bitcoin had dropped to 0$, or that Bitcoin had disappeared or been scammed. How will you be at that moment?
Lol..you know it's not possible for bitcoins to collapse totally without no remainder..if bitcoin dropped tomorrow beyond your imagination or my own imagination, it's drop has create avenue or opportunity for l to buy as much as i can i return, because looking at it from another dimensions it will also return to the initial point..all these, is base on assumptions, If or Not. [ Under probability] 
Topic: Is it Really Trustworthy? - page 3. (Read 562 times)
Suppose you woke up tomorrow morning and found that Bitcoin had dropped to 0$, or that Bitcoin had disappeared or been scammed. How will you be at that moment?
Although this is materially impossible (unless there is a global-scale movement against cryptocurrencies), then I think this would convince me to purchase at least a thousand BTCs and HODL them for long-term. Even if there would be a movement against such cryptocurrencies, the value of purchasing them relative to the hope of their prices increasing in the near future is high. I guess everyone would exactly do this movement and its price would skyrocket eventually in the market.
To the people who decided to stop investing, that would be a huge mistake. Again, what drives the price of BTC is the law of demand and supply. Assuming that this were the case, then everyone would be purchasing cryptocurrencies in the market, thereby increasing its price.
Isn't it the same with the normal investments now ? There is a lot of economical instability at the moment, did you imagine that there will be a war in 2022?we had no idea about the pandemic as well at the same time we do know that the government is not making that many good decisions as a whole therefore I do think that bitcoins disappearing would be the least of our concerns, the investments would all be affected and at the same time bitcoins is an integral component of some governmental bodies as well therefore if it's shattering the most profitable investment then it's shattering all of them as well.
Suppose you woke up tomorrow morning and found that Bitcoin had dropped to 0$, or that Bitcoin had disappeared or been scammed. How will you be at that moment?
Even this is just a situational question, I don't really think that it will happen. 
But let's say that it will then I'll just go back to the usual things that I've been doing and I'll do more and exert more effort more than that I do so that I'll become wherever I am because of holding bitcoin.
Suppose you woke up tomorrow morning and found that Bitcoin had dropped to 0$, or that Bitcoin had disappeared or been scammed. How will you be at that moment?
I wouldn't care one bit. I knew from the start that it was an experimental tech which could go poof any moment. I knew the risks and bought it anyway.
If somebody said this is the safest and fastest way of getting rich and you believed him then you are the only one to blame.
"With great risk, comes great rewards." -Uncle Satoshi
Suppose you woke up tomorrow morning and found that Bitcoin had dropped to 0$, or that Bitcoin had disappeared or been scammed. How will you be at that moment?
First scenario; Bitcoin going down to $0. That would be a huge shock on my path, I'll probably be stunned for quite a while as I cannot think of any logical reasoning for that to happen; and my first step would be to know what might have caused that, let's say there was a hypothetical reason that made Bitcoin to lose all of its market value but doesn't inherently affect how it operates, I'll If it was a situation that does affect the integrity of the network, I might hesitate a bit to determine to what extent, before deciding if to buy or not.
Second and third scenario; are literally just wild assumptions. An individual can make a mistake and their bitcoins disappear or are stolen, if I were to be in that situation, it would be a huge burner and I'll have to start building from scratch again to grow my Bitcoin portfolio.
The entire network cannot disappear or get stolen.
It's more probable to wake up in the middle of the night to the explosions of nuclear weapons than it is to Bitcoin suddenly going down to 0. We get these questions whenever the charts don't look so bright. But you can't expect it to go up forever. It would be great if it did, but that's not how any of this works. If you believe in the advantages that Bitcoin offers, have faith that it will show through the price.
Just imagine all those people who wish for a time machine to go back in 2010 to buy only bitcoin. They are likely to get that excitement like me. Because if bitcoin reaches $10k, lots of people will buy it, or if you are thinking about $0. But I don't think it will happen because no one will sell bitcoin at $0. So the buyer has to increase the price of bitcoin to buy bitcoin. So the bitcoin price won't dump until the seller sells it. So $0 is a useless number. Now if I lose the wallet access, then there is no option except to start a new beginning. That's my opinion. Thank you.
Suppose you woke up tomorrow morning and found that Bitcoin had dropped to 0$, or that Bitcoin had disappeared or been scammed. How will you be at that moment?
When creating a what if scenario it is not enough to introduce the scenario, you also need to explain how it could come to happen, I say this because there is no way for bitcoin to reach a value of zero.Is it possible for the price of bitcoin to drop significantly? Yes, and we are seeing that right now, however a decentralized network in which you can exchange value without the banking system will always have value, so the scenario you are bringing is simply not possible.
Those who fear bitcoin being a scam or having no value later on already regretted that they didn't buy bitcoin before or when they first knew it. Many already trust bitcoin as an investment, just look at the price now of bitcoin from how much it started, it's because of the adoption and how people trust and sees it's importance. Being too negative or having fear too much to try will not lead us into any profit. And Im glad I try and trust Bitcoin even before and how it is capable soon to recover from this bear again.
Suppose you woke up tomorrow morning and found that Bitcoin had dropped to 0$, or that Bitcoin had disappeared or been scammed. How will you be at that moment?
I would buy as much as possible if BTC went back down below a dollar and I would hoard it like a maniac.
It feels weird to respond to the question, because there's no way that all of the bitcoin would just disappear or be scammed without there being something imminently more important that caused it.
That being said, nothing lasts forever and I'm sure there will come a time when we get beyond BTC.
What ways could you see any of this happening?
If bitcoin went to $0, I'd probably be buying more. If it were hacked, there are enough copies of the chain it might just be rolled back to a point where it worked (there are sometimes warnings to not send transactions around hard forks for example just in case rollbacks are necessary).
I think it's wise to come up with plans for what you're going to do if you're all in on bitcoin though and I think most people should have diversified portfolios and only invest their risk tolerance in crypto.
If bitcoin went to $0, I'd probably be buying more. If it were hacked, there are enough copies of the chain it might just be rolled back to a point where it worked (there are sometimes warnings to not send transactions around hard forks for example just in case rollbacks are necessary).
I think it's wise to come up with plans for what you're going to do if you're all in on bitcoin though and I think most people should have diversified portfolios and only invest their risk tolerance in crypto.
It is common to see people thinking regretting they didn't bought bitcoin at 30k...
But when it reaches 30k again, people are afraid to buy it.
I can really get why people do that. Because they think it was easy for us to buy bitcoin 2-3 years ago. But it wasn't.
It is always risky to buy bitcoin. It was never really "cheap" at the moment.
Does bitcoin looks cheap for you now? I don't know, but my guess is that everything (from stocks to bitcoin) is cheap now, and it is worth getting exposed to different risks and assets.
Bitcoin won't go to zero. But if it does drop to 20k, I know most people will be afraid to buy it. This is when we need to be brave and greed. Not when it is in ATH.
Suppose you woke up tomorrow morning and found that out of nowhere despite all the revenues in the world Amazon and Apple for some reason shut down due to bankruptcy, and Tim Cook and Andy Jassy suddenly scammed the whole world of their order packages. How will you be at that moment?
Sounds totally absurd and impossible to happen yea? Exactly.
Sounds totally absurd and impossible to happen yea? Exactly.
What ways could you see any of this happening?
If bitcoin went to $0, I'd probably be buying more. If it were hacked, there are enough copies of the chain it might just be rolled back to a point where it worked (there are sometimes warnings to not send transactions around hard forks for example just in case rollbacks are necessary).
I think it's wise to come up with plans for what you're going to do if you're all in on bitcoin though and I think most people should have diversified portfolios and only invest their risk tolerance in crypto.
If bitcoin went to $0, I'd probably be buying more. If it were hacked, there are enough copies of the chain it might just be rolled back to a point where it worked (there are sometimes warnings to not send transactions around hard forks for example just in case rollbacks are necessary).
I think it's wise to come up with plans for what you're going to do if you're all in on bitcoin though and I think most people should have diversified portfolios and only invest their risk tolerance in crypto.
Suppose you woke up tomorrow morning and found that Bitcoin had dropped to 0$, or that Bitcoin had disappeared or been scammed. How will you be at that moment?
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