WANT TO ASK IF IBITCOIN BEEN DEVALUED TO ZERO ?

South Park

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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

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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

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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

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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

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

South Park

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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.

frontdenplastic

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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 at some point in the distant future Bitcoin will be worth 0. At some point in the distant future the earth will no longer exist too.

You should provide a time frame for your question in order to get more reasonable answers. Were you thinking of 1 year, 10 years, or 100 years down the road?

Ayiranorea

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Bitcoin won't get devalued to zero. This can happen on the dream. The growth taking place with bitcoin is very big, because in a short period we have gained a much bigger market capital. This could have never been expected by anyone.

X-ray

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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.

Abricotier

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Quote from: mrcash02 on July 04, 2017, 10:16:29 PM

The risk always exist, but it's too low, really tiny... If Bitcoin wasn't a good investment, whales and rich guys from real world wouldn't put their money into Crypto-Currency business, if they did it, it's because they have seen potential on this niche and I'm sure they won't let Crypto-Currency and especially Bitcoin die, they don't like losing money and they usually don't lose money.

There is no risk, I can assure you this. Just look at the resistance floors on the exchanges. Even if you sold half of the bitcoins at once you would not even drop to 100$. And that assume we are in a pure market where there is no one buying back during the fall. In one word : IMPOSSIBLE.

DrGuns4Hands

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that's not possible whales won't let that happen because they're having a lot of advantage in bitcoin that's why that will never happen even the news about the august 1 it will never happen maybe the price of bitcoin will drop but time will come that bitcoin price will rise again that's why there's a lot of user investing in bitcoin because they know what bitcoin can do in the future.

DAVETUN

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Quote from: RoommateAgreement on July 05, 2017, 12:52:32 AM

as long as things are normal and nothing changes the price will continue to go up and there is no stopping it, and it will only have dips for correction.

as long as there is no serious drama any drop will also be small with bitcoin drops standard

if a serious bug is found in bitcoin that can not be fixed then it may drop to zero. but in the past 8 years or so everyone has been trying to find bugs, exploits, attack bitcoin, the hackers hard at work, but they all have been failing.

Great news there,so we can get to say that the future of this age lies in crypto currency and bitcoin been the lead.

EXtremeAEX

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The thing is that because Bitcoin has reached this high already, there would always be people who believe it can come back up even after a huge fall, so no matter what there will be buyers who will prevent a large drop. If it drops to down to near zero, I would gladly get those Bitcoin for a cheap price.

The buyers and sellers sustain the price in a way, to not allow the price to skyrocket insanely high or drop to zero. Tongue

RoommateAgreement

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Bazinga!

as long as things are normal and nothing changes the price will continue to go up and there is no stopping it, and it will only have dips for correction.

as long as there is no serious drama any drop will also be small with bitcoin drops standard

if a serious bug is found in bitcoin that can not be fixed then it may drop to zero. but in the past 8 years or so everyone has been trying to find bugs, exploits, attack bitcoin, the hackers hard at work, but they all have been failing.

ASHLIUSZ

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Quote from: mrcash02 on July 04, 2017, 10:16:29 PM

The risk always exist, but it's too low, really tiny... If Bitcoin wasn't a good investment, whales and rich guys from real world wouldn't put their money into Crypto-Currency business, if they did it, it's because they have seen potential on this niche and I'm sure they won't let Crypto-Currency and especially Bitcoin die, they don't like losing money and they usually don't lose money.

As stated risk is always found along with bitcoin. But when we make a strong reason for the devaluation of bitcoin to zero, you cannot find one. Because this has got its place and now the official acceptance has increased a lot, so such a decline will affect the Countries. So we can have trust that going to zero is impossible though it's decentralized.

mrcash02

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The risk always exist, but it's too low, really tiny... If Bitcoin wasn't a good investment, whales and rich guys from real world wouldn't put their money into Crypto-Currency business, if they did it, it's because they have seen potential on this niche and I'm sure they won't let Crypto-Currency and especially Bitcoin die, they don't like losing money and they usually don't lose money.

Abricotier

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No, this is not at all possible. I invite you to take a look at the exchanges, there you will see that there is strong resistances. Even if a single person possessed all the bitcoins and sold them all at one, it would not devaluate Bitcoin to 0$ !

DAVETUN

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Bitcoin is the currency of this age

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.

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