The Risks Of Bitcoin Going To Zero Has Gotten More Lower Than Ever - page 4.

Lanatsa

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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

It is indeed hard to believe that bitcoin would go to zero in terms of value yet to consider on how it become that big after a decade then theres no point of turning back into those previous prices

but doesn't mean that it did completely kill the risk.Theres always a risk and people shouldn't really be that too confident. Im highly a bitcoin supporter but I don't really trust up

when it comes to things that do last forever, there's always a replacement or something more better and im aint saying that bitcoin isn't capable but we cant deny that

there are much better alternatives or options.

Chris Barth

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Quote from: blockman on November 10, 2020, 03:33:43 PM

There will be several panicking if the price even close lower than $5k or even at $10k.

What panic can be greater than that of this year? When bitcoin was about $3K. A lot of people believe in bitcoin and I can say I'm one of them. While people were panicking and selling at $3K, some people were still holding and believing, while some were even buying from weak hands. What happened this year is quite a lesson of volatility. From $3K to $15K. So if it goes down to $5K, people will see this year's story as a reason not to panic.

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And if there are still people thinking that bitcoin can go to zero, those are the investors that have missed buying bitcoin a lot during the bearish. They became unattended and focused more with their emotion and that's why missed a lot. Yes, bitcoin's always volatile but looking at it to become zero or close to zero is highly unlikely. There will be several panicking if the price even close lower than $5k or even at $10k. We've seen that for several times but, bitcoin just proven to be resilient and a strong asset.

Chris Barth

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Quote from: hugeblack on November 09, 2020, 01:28:16 PM

Panic may lead to the collapse of prices, which will move the pendulum in dropping everything to zero, I do not mean the way in which the bubbles occur, but everything can be zero if it loses interest in it and the demand for it decreases, which is a lesson we can learn from what happened to the oil contracts in the past months.

Therefore, the chances of that still seem great, especially with this swinging world, but we could reach levels beyond $ 20,000 in the coming years.
Therefore, we cannot judge until after several years, 10 or more, and then either the price is zero or exceeds 20,000.

I'm not saying that it cannot get to zero. For reality's sake, it's a volatile currency. But the point here is that going to zero is like 5&6 with "impossible". Tho one of the comments here was really making a point about a large whale dumping everything and leaving no buy order. But tbh, do we have such whales? Even tho we do, bitcoin's price cannot get as critical as zero.

Stedsm

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Let's talk facts, 1 BTC = 1 BTC, so how can it be ZERO?

Anyways, now let me tell you something, investor confidence plays a major role in the case of demand and when confidence is high, demand will also reach much better levels. Today, we're here and seeing BTC spiking up, you know why? It's not the confidence alone, but in these years, even the volume of "greed" has gone above skyscraping levels and this is what's driving the markets so high. Tell me something, why don't you use your old coins which are not in use due to the Government abandoning the use of those coins (even though you collect and/or sell them)? Are they worth anything in today's world? Can you bring those times and their worth back? Impossible, right? So when that could happen, anything can. Never say that chances of BTC going to 0 are least, because it takes a big whale (or maybe Satoshi himself some day) who may just come up in the markets with lots of BTC and won't even leave a single order available in the buy side.

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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.

Exactly, if we ever see the price of bitcoin being zero then most likely we have bigger problems to worry about than losing the value of our holdings, since the only way I see this happening is if a catastrophe of global scale hit us, other than that bitcoin will aways have a value but that is something we all knew without needing anyone to tell us.

And it could be even argued that now the possibilities the price of bitcoin goes below the 3k level are very low indeed as the interest from institutional investors is growing by the day and it does not seem as if they will leave this time around.

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Would love to know how do they calculate this kind of statistics?
What is the probability that the sun will rise tomorrow? It's impossible to imagine this but statistically, there is a chance that it may happen but it's very, very low. But in reality, will it happen? No!
Calculating of such risks and probabilities is nonsense because that will never happen and it's just a math thing and numbers. At the same time, when calculating these risks, they have to consider that there are tons of money and businesses built behind bitcoin and more and more businesses are adopting it in their services, so...

hugeblack

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Panic may lead to the collapse of prices, which will move the pendulum in dropping everything to zero, I do not mean the way in which the bubbles occur, but everything can be zero if it loses interest in it and the demand for it decreases, which is a lesson we can learn from what happened to the oil contracts in the past months.

Therefore, the chances of that still seem great, especially with this swinging world, but we could reach levels beyond $ 20,000 in the coming years.
Therefore, we cannot judge until after several years, 10 or more, and then either the price is zero or exceeds 20,000.

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

"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"

It's happening now no one is talking about Bitcoin being a bubble, we are already past that stage, people are talking about the price now, adoption and new concept in the Cryptocurrency, people have matured they cannot something negative on a technology that is now widely adopted and very popular, and cannot stopped, even a pandemic cannot stop it.

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Risks of bitcoin going zero is very narrow. It is like an elephant passing through a needle hole. As bitcoin is speculative people with large volume of funds and the Whales try to shatter the market, by the time people with small holdings get into panic. This is being used as a way to profit by the whales. These kind of price fluctuation is quite common with cryptocurrency, based on which zero is impossible.

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Fiat is guaranteed to trend to zero over time.

Bitcoin is a binary bet and it's already won - infinity symbol.

At this point, it's just a waiting game - you just have to be patient for the rest of the world to realize it.

jemimah_f3

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Too much institutional money flown into bitcoin already, they are not stupid and I really doubt these guys will ever allow significant drop in price not talking about zero.

pooya87

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that is pure nonsense. the chance of bitcoin going to zero is as much as it has ever been. the bitcoin experiment is still young but at the same time it has reached a certain maturity that creates confidence and this maturity is not something that was reached recently. somewhere between 2010 to 2013 was the last time you could doubt the future of bitcoin and its potential. ever since then there has only been growth. so in other words the chances of reaching $1 million is higher now but chances of reaching zero is still the same near zero.

Oasisman

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Bitcoin going to zero is "almost" impossible. The only thing that I could think of for that to happen, is when people would actually stop supporting Bitcoin. Miners stop operating, and investors selling every fractions of their bags. Anything else doesn't matter.
Bitcoin has this unique use case that people liked which they cannot be able to do it in a traditional banking, and that's the reason why these big business names are getting involved with Bitcoin and other alts.

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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

To much overthinking about the situation which may lead you to more worries about some certain stuffs on bitcoins but to be honest as other people said here this scenario for Bitcoin is close to impossible since it is known already and Bitcoin and cryptocurrency is billion dollar industry which for sure many people as well government think about good adoption since for sure it can possibly contribute to the economy if certain legal matters will implemented and huge adoption will came.

mk4

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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.

Chris Barth

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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

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