WANT TO ASK IF IBITCOIN BEEN DEVALUED TO ZERO ?

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: Qoheleth on August 18, 2017, 01:24:28 AM

Here's the thing about "zero".

Even Zimbabwe banknotes are worth a little money.

Not as currency, of course; Zimbabwe itself switched to USD years ago.

But people buy them on eBay regardless. Why? Well, because it's an interesting object, a funny gag gift, or a conversation starter.

So let's say, for some reason, that one day people stopped using bitcoins. Stopped accepting bitcoins as payment. Let's say the big mining pools all close up shop because it's impossible for an unused currency to pay their electric bills.

Then, even in that world, I imagine the system would probably still live on in the same capacity that Zimbabwe Dollars have survived. Folks buying mining ASICs on Craigslist for a pittance and running them out of nostalgia, or because it's funny, or just because it's something to do.

So we return to pre-2011 prices - sub-$1 prices - from back when BTC was just a funny crypto-nerd novelty. It won't be worth anything as an investment vehicle.

But that's not zero.

This is true, even if at some point bitcoin reached a very low value I will still hold some for nostalgia sake, it is not different than people that keep old coins and collect them, maybe a new hobby is going to emerge, maybe people instead of collecting coins are going to collect cryptocurrencies.

Shinpako09

legendary

Activity: 2058

Merit: 1015

Like what you said the global recognition, the acceptance. That two is strong enough to prevent happening the btc to be devalued in the near future. It will just going back to nothing if no one will ever used it and all whales or big investor will dump all their coin.

Opekin

sr. member

Activity: 396

Merit: 252

CryptoTalk.Org - Get Paid for every Post!

Quote from: DAVETUN on July 04, 2017, 03:34:17 PM

BASE ON GLOBAL RECOGNITION,ACCEPTANCE OF BITCOIN AND HACKERS CHALLENGES,IS IT POSSIBLE FOR BITCOIN TO BE DEVALUED TO ZERO IN THE NEAR FUTURE?
THIS NO ONE PRAY FOR,BUT WHAT THOSE THE FUTURE HOLD FOR BITCOIN.

This will don't happen, by the way where is the source of it or any article, site for us to read. Devalued to zero is a total abondonation of bitcoins if it happens for the hackers maybe they can hack some of it but not all bitcoin holders.

Qoheleth

legendary

Activity: 960

Merit: 1028

Spurn wild goose chases. Seek that which endures.

Here's the thing about "zero".

Even Zimbabwe banknotes are worth a little money.

Not as currency, of course; Zimbabwe itself switched to USD years ago.

But people buy them on eBay regardless. Why? Well, because it's an interesting object, a funny gag gift, or a conversation starter.

So let's say, for some reason, that one day people stopped using bitcoins. Stopped accepting bitcoins as payment. Let's say the big mining pools all close up shop because it's impossible for an unused currency to pay their electric bills.

Then, even in that world, I imagine the system would probably still live on in the same capacity that Zimbabwe Dollars have survived. Folks buying mining ASICs on Craigslist for a pittance and running them out of nostalgia, or because it's funny, or just because it's something to do.

So we return to pre-2011 prices - sub-$1 prices - from back when BTC was just a funny crypto-nerd novelty. It won't be worth anything as an investment vehicle.

But that's not zero.

kwukduck

legendary

Activity: 1937

Merit: 1001

Once the Bitcoin Cash team is done with Bitcion Core the network will effectively be disfunctional, worth exactly "zero" in any currency.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: DAVETUN on July 04, 2017, 03:34:17 PM

BASE ON GLOBAL RECOGNITION,ACCEPTANCE OF BITCOIN AND HACKERS CHALLENGES,IS IT POSSIBLE FOR BITCOIN TO BE DEVALUED TO ZERO IN THE NEAR FUTURE?
THIS NO ONE PRAY FOR,BUT WHAT THOSE THE FUTURE HOLD FOR BITCOIN.

That was only a risk in the early stages of the life of bitcoin, at this moment that is almost impossible a catastrophic failure will need to be found in bitcoin for that to happen, so bitcoin is going to keep being a valuable currency for a long time since the demand is there to push the price up.

Pakar11220

full member

Activity: 177

Merit: 100

Quote from: X-ray on July 06, 2017, 01:06:35 AM

Quote from: DAVETUN on July 04, 2017, 03:34:17 PM

BASE ON GLOBAL RECOGNITION,ACCEPTANCE OF BITCOIN AND HACKERS CHALLENGES,IS IT POSSIBLE FOR BITCOIN TO BE DEVALUED TO ZERO IN THE NEAR FUTURE?
THIS NO ONE PRAY FOR,BUT WHAT THOSE THE FUTURE HOLD FOR BITCOIN.

An important statement for you, you must try to go to the fuck out of yourself from the crypto.

Are you kidding me with your sentences? With all of the proof about bitcoin right now.

Never reach zero value.

You said that looks just another shitty joke.

No! That’s never going to be a possibility for biotin. The challenges of security and other currencies emerging are present from the birth of bitcoin. But bitcoin is improving day by day, it’s already the securest means of transacting money online. The competitors of bitcoins would be considered competitors if they stood a chance against bitcoin, but there services and features are not even close to the services and features provided by bitcoin. There is only success to expect from bitcoin industry.

JohnC2389

member

Activity: 95

Merit: 100

Quote from: DAVETUN on July 04, 2017, 03:34:17 PM

BASE ON GLOBAL RECOGNITION,ACCEPTANCE OF BITCOIN AND HACKERS CHALLENGES,IS IT POSSIBLE FOR BITCOIN TO BE DEVALUED TO ZERO IN THE NEAR FUTURE?
THIS NO ONE PRAY FOR,BUT WHAT THOSE THE FUTURE HOLD FOR BITCOIN.

I don't think that Bitcoin devalues to zero is possible, as long as people keep using and trading Bitcoin, Bitcoin will still dtay valuable and the day when people don't need Bitcoin is very far away.

EdenHazard

legendary

Activity: 2674

Merit: 1048

Quote from: Seansky on July 07, 2017, 07:05:55 AM

Quote from: ActiveP on July 06, 2017, 06:43:37 PM

Nobody knows what the future holds, but anything is possible. Could bitcoin be valued close to $0 in the future? Yes. But not in my lifetime surely!

How can you be so sure that it would not happen in your lifetime? I think that bitcoin being devalued to zero might happen years from now or maybe decades from now and probably most of us are still alive by then including you. Even if it won't happen in the near future there is still the possibility of this even happening in our lifetime.

considering there is a lot of development have been made nowadays like a lot of japanese company ready and have get started adopt bitcoin as a payment gateaway and even their government support it , i don't really think the devalued could happen in the near future.

the current growth are too great to be devalued!

tigershark

full member

Activity: 223

Merit: 100

Quote from: DAVETUN on July 04, 2017, 03:34:17 PM

BASE ON GLOBAL RECOGNITION,ACCEPTANCE OF BITCOIN AND HACKERS CHALLENGES,IS IT POSSIBLE FOR BITCOIN TO BE DEVALUED TO ZERO IN THE NEAR FUTURE?
THIS NO ONE PRAY FOR,BUT WHAT THOSE THE FUTURE HOLD FOR BITCOIN.

Technically Bitcoin could fail and drop to $0, but it is unlikely at this point. After several years of good growth, bitcoin is a pretty solid investment right now. We don't know if it will go mainstream or if there will be problems with it but so far it has been successful.

linkme

sr. member

Activity: 324

Merit: 250

Quote from: DAVETUN on July 04, 2017, 03:34:17 PM

BASE ON GLOBAL RECOGNITION,ACCEPTANCE OF BITCOIN AND HACKERS CHALLENGES,IS IT POSSIBLE FOR BITCOIN TO BE DEVALUED TO ZERO IN THE NEAR FUTURE?
THIS NO ONE PRAY FOR,BUT WHAT THOSE THE FUTURE HOLD FOR BITCOIN.

Of course there is chance for Bitcoin to drop out to zero but that chance is too small for us to worry about it, and of course if it happen, it won't be in the near future.

Seansky

hero member

Activity: 560

Merit: 500

Quote from: ActiveP on July 06, 2017, 06:43:37 PM

Nobody knows what the future holds, but anything is possible. Could bitcoin be valued close to $0 in the future? Yes. But not in my lifetime surely!

How can you be so sure that it would not happen in your lifetime? I think that bitcoin being devalued to zero might happen years from now or maybe decades from now and probably most of us are still alive by then including you. Even if it won't happen in the near future there is still the possibility of this even happening in our lifetime.

Yakamoto

legendary

Activity: 1218

Merit: 1007

Quote from: DAVETUN on July 04, 2017, 03:34:17 PM

BASE ON GLOBAL RECOGNITION,ACCEPTANCE OF BITCOIN AND HACKERS CHALLENGES,IS IT POSSIBLE FOR BITCOIN TO BE DEVALUED TO ZERO IN THE NEAR FUTURE?
THIS NO ONE PRAY FOR,BUT WHAT THOSE THE FUTURE HOLD FOR BITCOIN.

I would say that it is pretty close to impossible for Bitcoin to get hit hard enough that it goes all the way down to zero, but there is always a first for everything. The main concern on most people's minds, that are involved when it comes to Bitcoin alone, is whether or not they are able to profit off of the moves of the day and see whether or not anything interesting happens when it comes to macro trends. Beyond that, it's mostly speculation.

ActiveP

full member

Activity: 210

Merit: 100

Nobody knows what the future holds, but anything is possible. Could bitcoin be valued close to $0 in the future? Yes. But not in my lifetime surely!

Basmic

sr. member

Activity: 406

Merit: 256

At the moment, bitcoin cannot fall to zero, but in the future I do not exclude such a possibility. The value of bitcoin is only the people's faith in the fact that it will grow to infinity. For me it's all signs of a pyramid, but I use it because even with the participation in the pyramid have a chance.

izanagi narukami

legendary

Activity: 2030

Merit: 1028

Bitcoin become zero if there is no demand at all or this world experience major disaster that force internet being shut down forever.
IMO it's rarely to happen ! Bitcoin is getting famous by it's value so it means more people interest on bitcoin potential rather than abondon it

YuginKadoya

legendary

Activity: 3038

Merit: 1169

Quote from: giveen on July 06, 2017, 10:10:06 AM

That's not possible from now onwards 0$ = bitcoin always a dream. I get it all the hacking going around there is a slight chance but let's imagine in order to reach 0$ all the bitcoin in market must be hacked. And if it reaches 5$ (because satoshi has 10% of total supply) we are going to see massive sucides around the world , people will hurry to buy as many bitcoins they can and after few days price will jump back to 500$ or even more. There are many buyers of bitcoin but there are more people who are waiting for a hack for price to crash so they can buy more. Please be more realistic.

yup! in reality bitcoin price will never gonna go back or devalued to $0 dollar that is very impossible and we are in a higher price right now just like bitcoin value goes up it will go down and take it years to stumble back to a zero, even if the price of it has fluctuating so much the changes has a base safe zone in terms of going down and going up is the best place bitcoin will take! and the only thing or event that can devalued bitcoin is The End of the World.

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

I think the only possible scenario is if it was irretrievably broken. But in that case someone could repair and relaunch it and use the dead coins as proof to redistribute the repaired ones which would give them value.

Other than that even if it was gulped by alts there'd be a few odd little holdouts who'd give it value.

giveen

hero member

Activity: 826

Merit: 1004

That's not possible from now onwards 0$ = bitcoin always a dream. I get it all the hacking going around there is a slight chance but let's imagine in order to reach 0$ all the bitcoin in market must be hacked. And if it reaches 5$ (because satoshi has 10% of total supply) we are going to see massive sucides around the world , people will hurry to buy as many bitcoins they can and after few days price will jump back to 500$ or even more. There are many buyers of bitcoin but there are more people who are waiting for a hack for price to crash so they can buy more. Please be more realistic.

hase0278

hero member

Activity: 882

Merit: 544

Quote from: DAVETUN on July 04, 2017, 03:34:17 PM

BASE ON GLOBAL RECOGNITION,ACCEPTANCE OF BITCOIN AND HACKERS CHALLENGES,IS IT POSSIBLE FOR BITCOIN TO BE DEVALUED TO ZERO IN THE NEAR FUTURE?
THIS NO ONE PRAY FOR,BUT WHAT THOSE THE FUTURE HOLD FOR BITCOIN.

I don't think that bitcoin will be devalued to zero in the near future but it might be in the distant one. Even if there will be a hack that will result to a big dump, it wouldn't devalue bitcoin to zero as long as some of the users contiune to use bitcoin. It would only be possible if bitcoin were to be dethroned and has many shitty bugs but for now it is okay.

Topic: WANT TO ASK IF IBITCOIN BEEN DEVALUED TO ZERO ? (Read 1554 times)