What if crypto vanishes? - page 12. | Bitcointalksearch.org

barabarian1

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Quote from: Wysi on December 21, 2019, 02:20:10 PM

What will happen if crypto vanishes overnight or due to some or the other reason if crypto becomes inaccessible to public? I know this does not make sense as crypto will not vanish but still what if it happens? What about those huge chunk of investments made by whales and other investors?

yes maybe it could happen op when there is a big disaster that caused electricity and internet networks to die. then we won't be able to access our crypto. and I think when that happens we can't do anything. we can only wait until things get better. therefore always suggest to have other investments besides crypto. I suggest having gold so that if something bad happens to cryptocurrency we still have gold that we can count on.

Shimmiry

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Quote from: TitanGEL on December 23, 2019, 01:24:22 AM

If that happen of course the economies of every country will faol and crashed. Right now the cryptocurrency has important function in every types of economy. And of course it will not happen because the demand of the people to cryptocurrencies are continuing to grow and we will it is really impossible to see that it will vanish. Government cannot also do anything so cryptocurrency because they saw the importance of it even it is a threat to the fiat money that they are backed.

It has a massive impact if the cryptocurrency will vanish one day, many people may affect because of the money they already invested in crypto. Today cryptocurrency is the most successful transaction and sources of income of the people. The many see the potential of the cryptocurrency that gives them a large amount of money in just a single day; there is a lot of transaction happening in just a day, and it contributes in the world of crypto. The investors have a huge problem too because most of the time they invest for a long term transaction like in bitcoin and in the cryptocurrency you cannot tell where the money came from and who is the one collected the money you transfer. It may also cause to the country who already adopted the use of cryptocurrency as a payment to their employees and use as a transaction payment to their stores.

TitanGEL

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If that happen of course the economies of every country will faol and crashed. Right now the cryptocurrency has important function in every types of economy. And of course it will not happen because the demand of the people to cryptocurrencies are continuing to grow and we will it is really impossible to see that it will vanish. Government cannot also do anything so cryptocurrency because they saw the importance of it even it is a threat to the fiat money that they are backed.

breathlessz

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Quote from: Dr.Osh on December 22, 2019, 10:45:29 PM

each crypto has developments with different technologies, so thinking that crypto will be wasted in a short time is quite difficult. the only way to get rid of crypto is to eliminate the internet. if that can happen, the only thing that can be done is move on. of course, people who have invested will try to demand their money back, especially if the crypto has an official office.

with the amount of money that has been circulating, and the interest of people to join the crypto I find it difficult to eliminate it. removing the internet will only cause new problems, because the internet is not just for cryptocurrency. therefore in my opinion by arranging it will be better

Wintersoldier

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Quote from: Dr.Osh on December 22, 2019, 10:45:29 PM

each crypto has developments with different technologies, so thinking that crypto will be wasted in a short time is quite difficult. the only way to get rid of crypto is to eliminate the internet. if that can happen, the only thing that can be done is move on. of course, people who have invested will try to demand their money back, especially if the crypto has an official office.

What about retrieving the loss and data from the internet instead of moving on? We all know, that the data from the internet are not stored to the network itself but from the data servers around the world. Same goes with the nodes from bitcoin which are scattered all around the globe, so no matte what happen, if bitcoin and internet could be compromised then the best way to stand up again is to perform advance recovery procedures and to actually restore all the data needed.

Dr.Osh

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each crypto has developments with different technologies, so thinking that crypto will be wasted in a short time is quite difficult. the only way to get rid of crypto is to eliminate the internet. if that can happen, the only thing that can be done is move on. of course, people who have invested will try to demand their money back, especially if the crypto has an official office.

imstillthebest

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Quote from: pixie85 on December 22, 2019, 03:03:49 PM

What if fiat money vanishes? This is beyond normal speculation. It's more like a question asked by a stoned guy in the middle of watching a movie.

lol that was funny . but the question is not about fiat but its about crypto . fiats cant dissapear because it was the standard currency that people use but crypto were only came out of nowhere .

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Dude, what if we disappear and wake up in another time? Cheesy

lol , again this question was like being asked by a stoned guy in the middle of watching a movie.

Quote

Value doesn't vanish. If you buy a car and wreck it the value will decrease but not vanish. You can still sell it for parts or repair.

so you mean to say that crypto wont vanish even if we send it to a random address ? which is true indeed and also crypto wont vanish but its value can also decrease . which was also a fact .

pixie85

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What if fiat money vanishes? This is beyond normal speculation. It's more like a question asked by a stoned guy in the middle of watching a movie.
Dude, what if we disappear and wake up in another time? Cheesy

Value doesn't vanish. If you buy a car and wreck it the value will decrease but not vanish. You can still sell it for parts or repair.

alani123

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If crypto couldn't be supported by the technology people had access to, then we would also have other problems. Crypto currency depends on basic technologies to sustain itself. It doesn't need the best computers or the best miners. It was designed to work with CPUs and hard drives of home users. Later phones, etc.

inthelongrun

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You are talking something that is impossible to happen op. Of the thousands of crypto currencies out there, you really think all of them will just simply disappear overnight? Tens of crypto currencies may vanish overnight but not all. Even thousands of shitcoins are still active. In the future, only the coins with real usage are probably the ones to remain.

TRONTON

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We will see various media will relate it to conspiracy theories and write as a small apocalypse part of a fairly revolutionary investment trend. Mass panic will suddenly become a trend, but all holders will realize that so far they have been involved with something that has no regulation and legality.

They can not take any legal steps to the exchange and wallet services, will only end up being a regret for life even though they are not only focused on crypto.

hatshepsut93

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Quote from: Wysi on December 21, 2019, 02:20:10 PM

What will happen if crypto vanishes overnight or due to some or the other reason if crypto becomes inaccessible to public? I know this does not make sense as crypto will not vanish but still what if it happens? What about those huge chunk of investments made by whales and other investors?

If it vanishes then it vanishes, people will have to move on and deal with their losses. It's a bad idea to go all-in on one single asset, and people who hold a huge portion of their net worth in crypto will be seriously rekt.

But you question is a bit too vague, there are many scenarios when crypto "vanishes" - it can be due to a nuclear war or cryptography getting broken or something else, and there can be different outcomes in long term.

fiulpro

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All I know is ,

It won't help the government

People will loose their jobs

It will strike Down all the new platforms which have already invested their hard earned money in creating it

New startups and old wallets related to this will suffered and people employed will also loose their jobs.

It will again be reinvented in the future , because let's face it no one can stop the economy and the IT sector from Changing.

deisik

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Quote from: Wysi on December 21, 2019, 02:20:10 PM

What will happen if crypto vanishes overnight or due to some or the other reason if crypto becomes inaccessible to public? I know this does not make sense as crypto will not vanish but still what if it happens? What about those huge chunk of investments made by whales and other investors?

Nothing out of the ordinary is going to happen

People lose money everyday. Money gets stolen and money gets gambled away, up to the last penny. The world doesn't stop. Besides, for whales and the vast majority of investors you mention cryptocurrency investments is not the last money anyway. All in all, we will see what we had already seen before in the dotcom era with billions lost. Actually, they were not lost, they just changed hands. The same will happen to "those huge chunk of investments"

palle11

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Quote from: Wysi on December 21, 2019, 02:20:10 PM

What about those huge chunk of investments made by whales and other investors?

Obviously a loss if this happens. This is the reason some don't want to invest in crypto because they can't hold anybody accountable for loss.

But this is just an assumption because the possibility is low to happen. The world is growing with modern technology plus digital payment system that follows too.

Ailmand

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It will be a big catastrophe since a huge amount of money is invest in cryptocurrency as a whole. It might create a huge panic and will affect a lot of people especially thise who have invested a lot of money on it and yhose who are dependent on crypto earning. It can also affecr the economy as a whole since money is involved.

iamsheikhadil

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Interesting thought, but I don't think that will happen in any universe of the multiverse we are living in, however I think if that happens, it will create third world war or even more. The people who has invested so much in crypto won't just sit idle if it vanishes leaving them with no funds lmao.

Divinespark

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I hope this will never happen because I gave up my main job to spend all my time in this market and make a profit. The fact that in this market I make more money than office work, and I'm sure there will be more like me in this market. I believe in cryptocurrency and blockchain, it will be an important part of the world in the future

keeee

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Quote from: drlukacs on December 21, 2019, 11:32:39 PM

Quote from: Wysi on December 21, 2019, 02:20:10 PM

What will happen if crypto vanishes overnight or due to some or the other reason if crypto becomes inaccessible to public? I know this does not make sense as crypto will not vanish but still what if it happens? What about those huge chunk of investments made by whales and other investors?

if that really happens, it will surely cause an economic crisis. Because all this money is not just our principal, there are many people who borrow from banks to invest in this market and the amount has reached $ 190 billion. So if the crypto market collapses, the whole world will lose over $ 190 billion in fiat money and it will surely be a major influence and sharks will die. I don't expect this to happen, it will make millions of people poor.

It will have a big impact to economy of every country who have invested a lot to crypto. Lot of people now ar uaing crypto as a way of oanother income money, in fact they earned more here than the regular job they have. If crypto vanished I can agree that economic crisis is not impossible to happen.

airdnasxela

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Although I highly doubt that, but since it's a 'what if' then probably we'll just have to stick with paper money. No crypto, then fiat is our only means of payment, excluding gold. If all crypto suddenly become obsolete, then all of our efforts will be worthless. Feeling frustrated since we've worked for it and in just a day, everything becomes worthless...

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