What happens next if Bitcoin drops to zero? - page 6.

Fatunad

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Quote from: BobK71 on March 01, 2023, 12:14:32 PM

Quote from: Sakanwa on January 25, 2023, 08:48:07 AM

Please don't let my question cause so much hate on me but rather let's also be realistic at times.
Though I haven't invested a reasonable sum in Bitcoin, I've at some point after watching how the market and price of Bitcoin fell from over $60k to less than $12k something similar to what altcoins do and it prompted some questions like
1. Will Bitcoin ever fall to zero someday?
2. What happens if it ever falls to zero?

It will be if this questions are answered without sentiment as I'm open to learn.

Do you know when Bitcoin will drop to zero? Bitcoin can only reduce to zero when there will be no buyers. But is it possible? Day after day people are increasing, buyers are increasing and therefore the demand for Bitcoin is increasing. So how can the price of Bitcoin fall to zero? Another thing is that the number of people in the world is much more than the number of bitcoins and the number of people is constantly increasing, then how can bitcoins go down to zero?

Although there's no assurance about Bitcoins future but it is really that hard to believe that it would really go to zero.Why? when we do see on the community feedbacks and support then we could really be able to see
that this is something which is really strong and does have that support that could withstand and survive on longer years to come.This is why its really that important that if you do touch up yourself on crypto investment then be sure that you are that fully aware about the risks involved so that you wont really be freaking out whenever you do face up some volatility.This is why
self awareness would really be that crucial.

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Quote from: Unbunplease on February 09, 2023, 07:42:03 PM

If bitcoin drops to zero, I don't think anything bad will happen. Bitcoin's mission was to bring attention to cryptocurrencies. That task has been accomplished. Now the development of cryptocurrencies is hard to stop. although bitcoin is more likely to become analogous to stabelcoin than to fall to zero.

Bitcoin is scarce and decentralized by design, so it's very unlikely it will go to zero in the future. Why care about the price, when BTC is all about usability? If people began using Bitcoin as digital cash regardless of its market price, things would be a lot different in crypto land. Unfortunately, human greed has dominated the space, so expect to see more people hoard the cryptocurrency with the hopes of becoming rich in the future.

At least, Bitcoin is working as intended. As long as decentralization and censorship-resistance is preserved, the BTC blockchain will continue to live for generations. Maybe it will become a major contender against Fiat in the future? Just my thoughts Grin

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Quote from: Sakanwa on January 25, 2023, 08:48:07 AM

Please don't let my question cause so much hate on me but rather let's also be realistic at times.
Though I haven't invested a reasonable sum in Bitcoin, I've at some point after watching how the market and price of Bitcoin fell from over $60k to less than $12k something similar to what altcoins do and it prompted some questions like
1. Will Bitcoin ever fall to zero someday?
2. What happens if it ever falls to zero?

It will be if this questions are answered without sentiment as I'm open to learn.

Do you know when Bitcoin will drop to zero? Bitcoin can only reduce to zero when there will be no buyers. But is it possible? Day after day people are increasing, buyers are increasing and therefore the demand for Bitcoin is increasing. So how can the price of Bitcoin fall to zero? Another thing is that the number of people in the world is much more than the number of bitcoins and the number of people is constantly increasing, then how can bitcoins go down to zero?

AnonBitCoiner

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I don't think so. However the price of crypto is not constant so it can change over time. There is no knowledge about future that what will happen. But as you know that bitcoin is one of the successful coin so here is the ability of bitcoin to rise again after the passing of bearish period.

In my opinion bitcoin will boost in cost if once it passes across the time of dump in market. It can reduce in price but cannot drop to zero as its history is in front of us that how it provides a huge amount of cashback to its holders. I don't think that it will happen but if unfortunately it happens then it means that all crypto coins will be reduces and will go to zero as the price of coins are related and associated with the cost of bitcoin.

Large number of individuals has put money into bitcoin so if it goes to zero then they will face huge loss and the market will ended because no other coin is more beneficial than bitcoin. The economic success of large number of cryptocurrency enthusiasts are due to investment in Bitcoin so if it go to zero then economic system will also drastically reduced.

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Quote from: Abiky on February 09, 2023, 07:13:32 AM

~snip~ We're talking about decades before something like this happens. The last BTC will be mined by 2100, so we have plenty of time to enjoy it during our lifetimes. Remember, diversifying your investment is the key to minimizing as much risks of loss as possible. As long as you don't put all of your eggs in one basket, you'll have nothing to worry about. Just my thoughts Grin

Something will always be replaced and some technologies will continue to develop, including Bitcoin and Blockchain technology. Bitcoin is even still new in the world of digital assets and this is still a first step for bitcoin. We will not be able to see how the development of bitcoin after bitcoin has been mined. We only need to focus on the remaining times with bitcoin fluctuations that occur. Going to zero is hope for those who are hopeless, but for those of us who continue to support bitcoin, bitcoin will continue to grow and evolve over time, becoming a payment technology that remains decentralized.
and By diversifying, it is possible to spread the risk of loss across different types of assets so that not all money is exposed to the same risk. and it is strongly recommended not to only invest in one type of asset, especially if you are just starting to invest in bitcoin or other crypto assets.

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Quote from: Sakanwa on January 25, 2023, 08:48:07 AM

Please don't let my question cause so much hate on me but rather let's also be realistic at times.
Though I haven't invested a reasonable sum in Bitcoin, I've at some point after watching how the market and price of Bitcoin fell from over $60k to less than $12k something similar to what altcoins do and it prompted some questions like
1. Will Bitcoin ever fall to zero someday?
2. What happens if it ever falls to zero?

It will be if this questions are answered without sentiment as I'm open to learn.

I was also curious about same question because i am currently holding my coin in my wallet which i bought not Long ago. The market price was at 24k when i bought mine but the price has dropped significantly to 21k and since am still kinda of new, consciousness of my investment keep getting to me. am just curious if the Amount i bought can actually turn to zero because the amount i bought is very small. But i understand that the volatility of cryptocurrency is what makes it unique and that why people always buy knowing fully well there is a possibility that the price can shoot up in the bull season but its volatility is also a challenge for naive investors.

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If bitcoin drops to zero, I don't think anything bad will happen. Bitcoin's mission was to bring attention to cryptocurrencies. That task has been accomplished. Now the development of cryptocurrencies is hard to stop. although bitcoin is more likely to become analogous to stabelcoin than to fall to zero.

Abiky

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Quote from: Yatsan on February 03, 2023, 12:49:06 PM

Chances are high that the market will collapse if that so. Indeed there are other cryptoinvestments to choose from but problem is the bottomline. But if would look at it at the present, then market prices would show how dependent they are with Bitcoin's market price; an increase would be helpful for times convenient to people. Even if there are options, problems may still arise. Dependency would somehow kill other cryptoinvestment options, leaving investors no other way but to exit from this industry. But as long as popularity exist, demand will still be present which would make this scenery impossible. Let us just hope that this technology's potential won't drop in a sudden.

The market will collapse simply because all cryptocurrencies depend on Bitcoin to survive. It's the reserve currency of the market after all. While I don't envision BTC falling to zero anytime soon, we should be prepared for the worst just in case.

For what I know, nothing lasts forever. Either a new technology replaces Blockchain in the future, or Bitcoin dies due to an unanimous effort from mainstream governments to ban its usage for good. We're talking about decades before something like this happens. The last BTC will be mined by 2100, so we have plenty of time to enjoy it during our lifetimes. Remember, diversifying your investment is the key to minimizing as much risks of loss as possible. As long as you don't put all of your eggs in one basket, you'll have nothing to worry about. Just my thoughts Grin

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30 years ago no one thought that landline phones would be abandoned, but now many people are leaving landline phones and switching to mobile phones, technology is constantly evolving and often unpredictable, just like today's blockchain technology which is becoming a trend will be abandoned in the future, of course there are already better substitutes of all things.

Reid

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1. No, there will be buyers if ever it will fall to 4 digits again. They are lurking in the shadows waiting for that opportunity and I myself will also do the same.
2. I don't know how that could happen and I can't also imagine the effect it will cause to the financial industry of the world. That's Billions of dollars gone so there will probably be a lot of questions need to be answered before it seizes to exist.
Maybe you are just thinking too much, just calm down and let the wave carry your Bitcoin.

Joshapat

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Although Bitcoin is currently very popular and proven to be strong and safe, but we must always think realistically, change will continue to occur and maybe someday Bitcoin will not be valuable, there is nothing we can do but maximize the moment now to continue to find profits from Bitcoin before it is not valuable.

indah rezqi

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Even if nothing is impossible in this world, to be 0 then you really have to expect bitcoin to be completely destroyed at any cost.
I believe that bitcoin will no longer be 0 in the future because bitcoin is a currency that is being adopted more and more. Obviously this is going to make bitcoin even more recognized and used as means of payment, and for something that has growing real use case then it's hard to expect it to be 0.

OP, rest assured and rest assured that you will never see bitcoin go to 0 unless the internet crashes completely for whatever reason. Even if you can expect bitcoin to never drop below $5K again, that's still huge price compared to 0.

Yatsan

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Chances are high that the market will collapse if that so. Indeed there are other cryptoinvestments to choose from but problem is the bottomline. But if would look at it at the present, then market prices would show how dependent they are with Bitcoin's market price; an increase would be helpful for times convenient to people. Even if there are options, problems may still arise. Dependency would somehow kill other cryptoinvestment options, leaving investors no other way but to exit from this industry. But as long as popularity exist, demand will still be present which would make this scenery impossible. Let us just hope that this technology's potential won't drop in a sudden.

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Quote from: Pejoh Asu on February 02, 2023, 02:49:27 AM

Most people will say that bitcoin can last up to 20 years and some are even sure that it will continue to be used forever, but we must remember that bitcoin is an algorithm and technology that someday there will be technology that is better than bitcoin, don't think too much that bitcoin will be used forever , it's better to prepare for bad things in case of a storm, for example, there is a program that can unlock the wallet.

There is no doubt that in the future, there will be another asset that is better than bitcoin and replaces bitcoin, it's like bitcoin was created to gradually replace obsolete fiat or gold. But that won't happen soon, you don't need to worry too much about it. Just like fiat has existed for thousands of years, then bitcoin and cryptocurrencies were created, and it may take thousands of years to see a new asset class. What we need to be more concerned about is how much bitcoin we will own when it becomes popular and used all over the world, we are the lucky ones ahead of our time, so let's take advantage of it.

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Quote from: Joshapat on February 01, 2023, 09:11:17 AM

Technological developments can happen quickly, what we value at the moment is very valuable can become worthless in a short time, let's open our minds and always be realistic, don't be too fanatical that will make us very sorry, always monitor developments so that we can survive when bad things happen.

Monitoring what do you mean it's mate ? because if you tell everyone to monitor Bitcoin from now on, it's actually very logical because now Bitcoin is making very good improvements. But if you order to monitor technological developments, this is actually not wrong either. But this is a very different thing to watch if we are connoisseurs of any technology and can only be spectators to see the developments made by other people.

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Quote from: JoyMarsha on February 02, 2023, 06:03:34 PM

Quote from: Sakanwa on January 25, 2023, 08:48:07 AM

1. Will Bitcoin ever fall to zero someday?
2. What happens if it ever falls to zero?

1. There is extremely little chance that the price of bitcoin will ever reach zero. Bitcoin's value has increased with time, making it impossible for anybody to imagine a moment when it will cost nothing. Bitcoin's value may decline, but not to the point of being worthless. There are some things we shouldn't put too much importance on. A bitcoin price drop to zero is one

2. That ought to be the end of digital currencies. Nothing like internet trading and investing will be trusted by anyone.

There's no forever and we know that nothing do last forever but basing up on Bitcoin and looking into its demand then we can really say that it is hardly to believe that it would become valueless.

As long there's demand and recognition and popularity then there's no way that we could go back to $0.If it happens then pretty sure that there's a huge problem in regarding into its technical code or similar
aspect which would really be resulting in losing integrity and security of it which we know that if trust is broken then people would just easily jumped ship into those current new ones
which do have more better features and opportunities.

Joshapat

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Technological developments can happen quickly, what we value at the moment is very valuable can become worthless in a short time, let's open our minds and always be realistic, don't be too fanatical that will make us very sorry, always monitor developments so that we can survive when bad things happen.

JoyMarsha

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Quote from: Sakanwa on January 25, 2023, 08:48:07 AM

1. Will Bitcoin ever fall to zero someday?
2. What happens if it ever falls to zero?

1. There is extremely little chance that the price of bitcoin will ever reach zero. Bitcoin's value has increased with time, making it impossible for anybody to imagine a moment when it will cost nothing. Bitcoin's value may decline, but not to the point of being worthless. There are some things we shouldn't put too much importance on. A bitcoin price drop to zero is one

2. That ought to be the end of digital currencies. Nothing like internet trading and investing will be trusted by anyone.

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Quote from: Joshapat on February 01, 2023, 09:11:17 AM

Technological developments can happen quickly, what we value at the moment is very valuable can become worthless in a short time, let's open our minds and always be realistic, don't be too fanatical that will make us very sorry, always monitor developments so that we can survive when bad things happen.

Well, I'm certain that won't happen during our lifetime. After all, Bitcoin is still relatively new to the world. We may be talking about decades, before a technology superior than Blockchain takes over the world. The pioneer cryptocurrency is open source anyways, so it could easily adapt to new technologies if developers want to. Quantum computing would make Bitcoin faster and stronger than ever.

Given the fact that Bitcoin is widely known by the public these days, it's very unlikely it will go to zero anytime soon. There's always demand for the cryptocurrency on the market, especially when supply is scarce. It has never disappointed its investors since the day it was born. Who knows if it goes to $1m as predicted by experts? Just my thoughts Grin

Pejoh Asu

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Most people will say that bitcoin can last up to 20 years and some are even sure that it will continue to be used forever, but we must remember that bitcoin is an algorithm and technology that someday there will be technology that is better than bitcoin, don't think too much that bitcoin will be used forever , it's better to prepare for bad things in case of a storm, for example, there is a program that can unlock the wallet.

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