The Risks Of Bitcoin Going To Zero Has Gotten More Lower Than Ever

Findingnemo

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Bitcoin = Financial freedom

Quote from: Chris Barth on November 09, 2020, 04:26:37 AM

Renowned fund manager Bill Miller told CNBC on Friday "Bitcoin's supply is growing at around 2.5% a year, and the demand is growing faster than that and there's going to be a fixed number of them" He also said that the risks of the currency going to zero are "lower than they've ever been before". Truth be told, in as much as bitcoin is volatile (like its been jumping around in the past few hours), what he said is really true. Bitcoin grows on a daily basis. Investors come in on daily basis. Look at PayPal, look at square, look at JP Morgan. I mean these are big. One of things Bill Miller said which I've always told people is this "I think every major bank, every major investment bank, every major high net worth firm is going to eventually have some exposure to bitcoin or what's like it, which is gold or some kind of commodities"

See here

Increase in the demand decreases the chance of its value going to zero and it keep increasing day by day when there is bullish trend.Bitcoin isn't actually a company so people don't have reasons to change their opinion later from their current one so it is going to have more and more investors when the days passes.

Only one question in the mind of non bitcoiner's mind which is bitcoin is actually a bubble? or we just think in that way?

Mike Mayor

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I have said this before so again... It is impossible for something to have 0 value. It would have to not exist for it to have 0 value. No matter what happens there will always be someone out there willing to buy whatever it is you have. Even a grain of sand has value. Sand is used to making windows so its value is almost meaningless but none the less its there.

Crypto is the future and it has been 10 years. It is way too late to stop this machine now. This is a Blitzkrieg!!

wxa7115

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Bitcoin is GOD

Quote from: bryant.coleman on November 16, 2020, 12:54:41 AM

I don't get this. Does it matter whether BTC becomes completely worthless or not? The current exchange rate is around $16,000 per coin. Let's imagine a scenario where the price dips by 99.9% to $16 per coin. For those who invested in Bitcoin at the previous level, this represents almost complete loss of their capital. For them, at this stage it doesn't matter whether the price of Bitcoin gets to $0 or $10.

As you say at that point there is not a lot of difference, anyone that invested at the current prices would have lost basically all of his capital, but this discussion is more academic rather than practical, I really believe that the price of bitcoin is never going to hit zero, supposing that there was a crash that reduced the price of bitcoin significantly there is always going to be persons around the world that are going to want to have some bitcoin and to exchange it among each other.

However at that point its goal of becoming a currency for the world to use will be over, but obviously as someone that participate in this forum I still believe that scenario has no chance of happening.

sapnu

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Quote from: Twentyonepaylots on November 16, 2020, 06:26:29 PM

With the current increase in the price brought about by the halving and much leser known factors, it is no wonder that bitcoin was able to secure itself from it's own volatile nature. Though this comes at a cost of course. With this huge increase in price, it will be harder for investors to own bitcoins even when at a dip. And whales would most likely dominate the market. Not to mention the huge transaction fees that this will ensue.

Even if the price of bitcoin dumps very low these past few years, we can say that we should not worry about that since there are some events in cryptocurrency or in bitcoin itself that can affect its price when that happens, especially that halving. That makes a big effect on the price and as we can see as of now, the price of bitcoin is rising and continuously rising, we are all hoping that the price will continue to rise until it reaches its highest peak last 2017.

Kakmakr

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I want to use the latest Covid vaccine race as an example, when I try to explain my reason why I think it will not go to zero. We all know there are a big race and a lot of competition between Pharmaceutical companies to be the first company to supply Covid vaccine to the world.

Pfizer was the first company that announced that it's vaccine is more than 90% affective and it has started with mass production... but days later another company (Moderna) announced that it's vaccine is almost 95% effective and can be stored at a lower temperature... effectively making it a better option.

The Pfizer share price only dropped a little at the announcement of this new vaccine... Why? The answer is simple... Pfizer is a well known brand and it is backed with global manufacturing abilities and a very good track record.

The same is applicable to Bitcoin... it is a "Brand" name now and it is backed by a huge merchant network and very good developers. Even if a better Alt coin are developed, it will have to work very hard to reach the market position and the long-term security and track record that Bitcoin (BTC) has at the moment. (Not to mention the total hashing power backing Bitcoin) Wink

TitanGEL

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Quote from: Twentyonepaylots on November 16, 2020, 06:26:29 PM

With the current increase in the price brought about by the halving and much leser known factors, it is no wonder that bitcoin was able to secure itself from it's own volatile nature. Though this comes at a cost of course. With this huge increase in price, it will be harder for investors to own bitcoins even when at a dip. And whales would most likely dominate the market. Not to mention the huge transaction fees that this will ensue.

For me halving is one of the factor that causes the bitcoin to go rally wherein there is capitulation that resulted to the sellers to give up and it is the reason why there are consecutively green candles in the chart where it's indicating that the momentum is really high where the demand is keep increasing but halving alone is not enough and there are more factors. For me there are 3 main factors that causes the price of the bitcoin to have a price rally like what happened in the year 2017 are because of the general market sentiment, because of some news like when the Paypal released that they will accept bitcoin and the bitcoin halving. The bitcoin halving occurred in May and we are aware that there is no short-term effect, the recent price surge is the long term effect of the bitcoin halving.

Reatim

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Quote from: Zemomtum on November 14, 2020, 09:26:33 AM

The chance of getting to zero is becoming more complicated every day as institutional money flows in and it has been a safe haven for some economy most especially underdeveloped once e.g Venezuela. The possibility will be like to win a jackpot 4 times in a row.

And also why back to ZERO?when we all know that this is very impossible to happen ,I'm ok if the value will drops down to 3k like last march but even how bad the reaction of the world that time yet Bitcoin remains strong in that level and recover easily in a matter of 2 to 3 months.

Quote from: GDragon on November 16, 2020, 04:02:07 PM

For how many years, Bitcoin's price value did not even go down to 1000usd, so it is unlikely for it to go down to zero value. The price of Bitcoin keeps resisting and rising right now. It's getting popular, and people now know what the benefit of Bitcoin is. As time passes, the probability of bitcoin being zero is reduced.

same thought here,very exaggerated to imply the "Back to Zero" thing when we can at least put a thousand or two value.

Salauddin1994

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Even if the half growth and many leases known affect bitcoin it will not last long if traders have to wait patiently the price effect will increase whales are gaining ground in the market bitcoins and investments are high so whales will not last long in the market. In the bad we have to come up with something good we need to move forward with positive thinking even if the risk of going to bitcoin goes down to zero you need to have a good idea of the market situation in order to maintain your security.

NavI_027

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Quote from: Twentyonepaylots on November 16, 2020, 06:26:29 PM

With the current increase in the price brought about by the halving and much leser known factors, it is no wonder that bitcoin was able to secure itself from it's own volatile nature.

No offense mate but I think you were only able to say it because everything flows smoothly. All of us are floating in the cloud 9 that's why you tend to disregard the danger. We should know that it will not last forever. Still expect the worst and always learn to deal with it. I'm saying this because I'm just worrying for you as you may lead to wrong decisions due to being complacent later on. Also, remember that bigger price not necessarily means greater adopters thus the volatility will stay Wink

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How funny to think that when btc price surge everyone reacts enthusiastically. And then when it drops, everyone panic and say "Bitcoin is dead" lol.

Twentyonepaylots

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With the current increase in the price brought about by the halving and much leser known factors, it is no wonder that bitcoin was able to secure itself from it's own volatile nature. Though this comes at a cost of course. With this huge increase in price, it will be harder for investors to own bitcoins even when at a dip. And whales would most likely dominate the market. Not to mention the huge transaction fees that this will ensue.

NeilLostBitCoin

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Quote from: Astvile on November 16, 2020, 04:16:11 PM

We are coming in to the future where all is digital and bitcoin has gotten a lot of attention and popularity all throughout its 12 years journey on the internet. Bitcoins probability to go zero literally is close to impossible if not impossible right now, day by day thousands of people are adopting bitcoin joining in and valuing bitcoins and the things bitcoin has to offer. We've seen bitcoin experienced huge % of losses and is still able to bounce back even bigger. There is only a bright future for bitcoin.

Yes especially during this days, digital currency is very popular this pqndemic draws the attention of many people, I think maybe it become in the top searches keyword as well this year. So I think as time passes by there will be that doubt that bitcoin will be zero because it would never happen. and people is aware now what bitcoin is.

Astvile

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We are coming in to the future where all is digital and bitcoin has gotten a lot of attention and popularity all throughout its 12 years journey on the internet. Bitcoins probability to go zero literally is close to impossible if not impossible right now, day by day thousands of people are adopting bitcoin joining in and valuing bitcoins and the things bitcoin has to offer. We've seen bitcoin experienced huge % of losses and is still able to bounce back even bigger. There is only a bright future for bitcoin.

GDragon

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For how many years, Bitcoin's price value did not even go down to 1000usd, so it is unlikely for it to go down to zero value. The price of Bitcoin keeps resisting and rising right now. It's getting popular, and people now know what the benefit of Bitcoin is. As time passes, the probability of bitcoin being zero is reduced.

Yatsan

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Ever since people have recognize Bitcoin's worth and usage, the possibility and probability of Bitcoin getting into zero value have been lessen which is already close to impossible for the fact that many people from simple to rich ones are patronizing investing and supporting Bitcoin which raises the demand and volume and makes a soar for the price value to come into a higher rate. At this point of time that people are continuously wanting to get engage with Bitcoin, the possibility of it to become zero even on hard times like crisis is now impossible to happen for the people do know that even after any circumstances, Bitcoin can still be able to recover and maintain its high price not to drop into zero value.

Casdinyard

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Quote from: bryant.coleman on November 16, 2020, 12:54:41 AM

I don't get this. Does it matter whether BTC becomes completely worthless or not? The current exchange rate is around $16,000 per coin. Let's imagine a scenario where the price dips by 99.9% to $16 per coin. For those who invested in Bitcoin at the previous level, this represents almost complete loss of their capital. For them, at this stage it doesn't matter whether the price of Bitcoin gets to $0 or $10.

Maybe OP wants to know the reaction of people in this industry if such thing will happen. Well obviously, all of us will be disappointed. What will be our action? IMO, I'd move to another crypto which is still profitable investing my money with. Where's my loyalty in such case? Loyalty won't feed hunger. You need to continue. But enough with exaggeration, there is a possibility if we will be rooting for its definition, but slightest chance as we can see at this moment wherein the market price fell before but still managed to recover simply because there is a market demand and volume.

bryant.coleman

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I don't get this. Does it matter whether BTC becomes completely worthless or not? The current exchange rate is around $16,000 per coin. Let's imagine a scenario where the price dips by 99.9% to $16 per coin. For those who invested in Bitcoin at the previous level, this represents almost complete loss of their capital. For them, at this stage it doesn't matter whether the price of Bitcoin gets to $0 or $10.

wxa7115

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Bitcoin is GOD

Quote from: pixie85 on November 10, 2020, 04:07:38 PM

Quote from: mk4 on November 09, 2020, 05:04:47 AM

The chances of bitcoin going to zero has been pretty much next to impossible anyway. For bitcoin to go to literally zero, literally everything should go wrong, along with the zero nodes running and such. Sub $1000? Though highly highly unlikely(and getting a lot more unlikely as time goes), it's still possible. But zero?? Nah man.

It will always have a collectible value so even a few years ago there was no chance of it going below $1.

By 0 many people don't mean a literal 0 but a very small value like $5 or so. At this point if Bitcoin were to lose more than 99% of its value it would be dead as any other tradable asset is.

Usually when altcoins lose this much they are delisted by exchanges and abandoned by traders so it wouldn't really matter if Bitcoin went to $0.1 or $5 the result would still be the same.

Agreed, even if for some reason the price of bitcoin crashed to incredibly low levels and lost 99% of its value because of some technical flaw or just because an incredible new coin appeared on the market it is very unlikely that its value is going to be zero and that is because bitcoin is the first cryptocurrency, it has opened a path to the future and most likely people are going to buy bitcoin just as a collectible in the same way that people collect baseball cards or objects from movies.

So as we can see it seems that no matter what happens bitcoin is always going to have some kind of value, maybe it's going to be low or maybe it is going to be high but it doesn't matter since it will keep on existing, but even the scenario that I described above seems incredibly unlikely to me.

oktana

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Quote from: ?? on ??

Quote from: oktana on November 12, 2020, 02:11:45 AM

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In the next 5-10 years, you should not even think about it. It is unlikely that anything will change so much.

Lol, you're making it sound like in the next 5-10 years, it's not possible but maybe after that time it's possible. If bitcoin survives the coming 10 years, then I don't see anything stopping it. Also, I don't see the price being this low in the next 10 years. Maybe around $50k or more.

Already bitcoin has survived the first ten years so their is no stopping from now on. Also post pandemic things will change and have started to change and good for bitcoin. So only thing what I can see form here is the growth in crypto and bitcoin specially. So we will see the price rise will continue to rise as demand will continue to grow.

Lol, the first ten years doesn't guarantee it, just like the next ten years. This same year we're happy with the price, this same year that the price was as low as $3k dollars. If you were told that it would get that low, I'm sure you wouldn't believe it.

molsewid

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The price of bitcoin going to zero is impossible. Bitcoin already gained people's trust, and once the price of it may go down, many people know bitcoin would willingly buy it because we all know the price will go higher sooner or later. Actually, right now, bitcoin is not yet known to other places in the world. What if the bitcoin is already known all over the world?

Zemomtum

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The chance of getting to zero is becoming more complicated every day as institutional money flows in and it has been a safe haven for some economy most especially underdeveloped once e.g Venezuela. The possibility will be like to win a jackpot 4 times in a row.

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