What if crypto vanishes? - page 3. | Bitcointalksearch.org

TinaK

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Quote from: killerfrost on January 19, 2020, 11:48:41 AM

I cannot imagine a way to make this market disappear, this market cannot disappear quickly. If this market were to collapse, it would take a lot of time for everything to return to its original state. So we don't need to worry about the sudden disappearance of this market. But if it could happen, it would undoubtedly severely affect the economies of many countries and make many people poor.

Same and it will make sad for sure. People who ever depend on Bitcoin and cryptocurrency earning will definitely cry for sure and I personally will look for dayjob again to stop the problems.
For many people who have converted their day job earning to cryptocurrencies will be without job and I pray to God for that should not happen.

killerfrost

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I cannot imagine a way to make this market disappear, this market cannot disappear quickly. If this market were to collapse, it would take a lot of time for everything to return to its original state. So we don't need to worry about the sudden disappearance of this market. But if it could happen, it would undoubtedly severely affect the economies of many countries and make many people poor.

Bezobraznike

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Quote from: sunsilk on January 19, 2020, 07:04:42 AM

Then those balances will be stuck overnight if no one can't access it. The market will become frozen for the meanwhile but when it's able again, you must not be surprised with the possible panic selling because of that incident.

Many will start to decide to sell their crypto assets before it vanish completely. This is a kind of scenario that will only happen if the world's internet will be totally shutdown but it's unlikely to be seen, thanks to the great tech behind bitcoin.

There are some scenarios how crypto-currencies can disappear, we can see them in some topics here on forum.
Different types of disasters are mentioned, for me one thing is sure, if it comes to some bad scenario, coins will be
the last thing on our mind, we will think how to survive! We can't eat and breath internet and coins we have on the
internet.
I'm not one of the people who see end of the world and prophecy disasters as possible in some near future.

moviebuff777

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It can’t go away that quickly because it would require all governments to van it. That’s not going to happen. There will always be countries that will accept it.

Latviand

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Quote from: exstasie on December 21, 2019, 10:55:06 PM

Quote from: Wysi on December 21, 2019, 01:20:10 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?

Those huge investments would become instantly worthless. But you said it yourself, this scenario makes no sense. Crypto could be banned or the internet could be cut off, or it could end up being a passing fad. At no point would it simply vanish though.

Even if the internet went down worldwide, the blockchains would still exist, waiting to be mined once the network returns.

Given how many cryptos are there and how many company are behind those cryptos, it is really impossible for it to vanish in a sudden. Cryptos are facing issues in different countries which is proven by some countries who are not yet adapting such technology. They are having issues with it in which we cannot blame but it would be absurd to think that this would be the reason for such thing also being given that there are countries where cryptos are widely being used.

sunsilk

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Then those balances will be stuck overnight if no one can't access it. The market will become frozen for the meanwhile but when it's able again, you must not be surprised with the possible panic selling because of that incident.

Many will start to decide to sell their crypto assets before it vanish completely. This is a kind of scenario that will only happen if the world's internet will be totally shutdown but it's unlikely to be seen, thanks to the great tech behind bitcoin.

wack slacker

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I think that if cryptocurrencies will not disappear until people create a better technology than Blockchain and if Blockchain is easily hacked with a certain technology and there is no way but to temporarily stop using them. Without cryptocurrencies will create more jobs for everyone and the world economy on the macro will grow more slowly.
The disappearance of cryptocurrencies will cause damage to investors and lose a lot of crypto-related work.

kodtycoon

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certainly there will be big news everywhere that will make an issue of how important it is to invest in a more credible trustworthy institution, because it is very possible that if the crypto disappears then the news that circulates only talks about the ugliness associated with investing in crypto and this event will certainly become news big everywhere

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Quote from: arklan on December 21, 2019, 01:42:09 PM

unless you can suggest some remotely possible way this could actually happen, there's no point in discussing it, because it won't happen.

Vanish of crypto is possible to happen. You know why? Cryptocurrency is decentralize and no one really controls it. It can vanish any time they want. This is the main reason why some other people doesn't want to invest into it since no one controls it and they do not have any payback if it is gone. They cannot even complain or file a case since no one controls the cryptocurrency.

Ozero

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Cryptocurrency can no longer just instantly disappear. States do not yet plan, and indeed will not be able to stop cryptocurrency. Technically, this is only possible with the disappearance of the Internet. Something global must happen that puts humanity on the brink of extinction so that the Internet stops working. Nowadays, few people do without the Internet. Therefore, voluntarily, we will not give up on him.

Twentyonepaylots

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When cryptocurrency fails, all consumers of cryptocurrency will lose their savings and suffer a major loss. Small or big traders are all going to lose their money. And I believe we may not be able to access our crypto when the power network and the internet fail. But if that happens, I'm sure we'll all try hard to re-connect the internet network. And I also recommend that we have other assets besides crypto that we can use in the event of an emergency. I dont expect this to happen, though.

This is what's gonna happen when war comes. Especially a war at a global scale for that matters. This will cause a cessation on the progress of technology and the internet itself. And as we all know, bitcoin itself is embedded on the internet, it's like its heart or something. And if the internet dies, every bitcoin investor's money, hopes and dreams will go to waste. So the most plausible reason of bitcoin happening if you'll ask me is if there comes a war.

White Christmas

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When cryptocurrency fails, all consumers of cryptocurrency will lose their savings and suffer a major loss. Small or big traders are all going to lose their money. And I believe we may not be able to access our crypto when the power network and the internet fail. But if that happens, I'm sure we'll all try hard to re-connect the internet network. And I also recommend that we have other assets besides crypto that we can use in the event of an emergency. I dont expect this to happen, though.

If cryptocurrency suddenly vanish out of nowhere then it is a big ashamed on us and a big problem for us who ate investing in the cryptocurrency because all of us will suffer s huge losses especially those big investors and those people who are just starting to invest in the cryptocurrency, but I think it will not happen as cryptocurrency will just vanished when the internet connection or the network vanish also because we don't have any way on how we will be able to access our savings, although we have ledgers all we need to have is the internet connection first in order to have a very good time in the cryptocurrency. Crypto may have down and falls but we all assume that crypto will not vanish someday.

makolz26

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Quote from: Spaffin on January 18, 2020, 08:55:37 AM

I look at the entire cryptocurrency in my own way and understand that this is a valuable digital asset that is independent and accessible to every person. Since bitcoin, for example, has its own value, each user will be able to transfer funds anywhere in the world instantly and without delay without intermediaries and without government intervention. Bitcoin in this situation is the financial freedom of every person. If you look into the future through the prism of user capabilities thanks to cryptocurrency, then I am convinced that there can be no talk of any cryptocurrency fall. Although there are quite a lot of unnecessary coins on the entire cryptocurrency market that will leave the market very soon.

It has been great to most of us who were already sick in having bank system controlling our money, using our money to lend to companies and to people, but they are just giving out lesser interest in return. That's why crypto is here for us to control our money on our own custody, so for sure that it will not vanish anymore.

Spaffin

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I look at the entire cryptocurrency in my own way and understand that this is a valuable digital asset that is independent and accessible to every person. Since bitcoin, for example, has its own value, each user will be able to transfer funds anywhere in the world instantly and without delay without intermediaries and without government intervention. Bitcoin in this situation is the financial freedom of every person. If you look into the future through the prism of user capabilities thanks to cryptocurrency, then I am convinced that there can be no talk of any cryptocurrency fall. Although there are quite a lot of unnecessary coins on the entire cryptocurrency market that will leave the market very soon.

Ucy

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At least it never crossed my mind. That's too far from reality because bitcoin is too big to fail. The worst possibility could be the demise of an internet connection, but what kind of thing that causes the internet to fail worldwide, that's pretty much impossible. Even if the Internet dies nowadays there's a way to send it via sms or satellites. So long as people have their own coins it should be fine.

It could actually fail in many places (even internationally) at the same time. But if we have many nodes like say hundreds of thousands or millions of properly distributed nodes across the world, the likelihood of all nodes getting affected will be minimized.

In my opinion, it's important that many people have their own nodes. More nodes slow things down though with the current design. A better design would be few elected nodes confirming transactions and many other nodes performing checks and balance.

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Quote from: bohr on January 15, 2020, 01:47:04 PM

Quote from: deisik on January 12, 2020, 03:54:12 AM

But with cryptocurrencies it is way worse than that, so I'm not sure you would be able to get even 20 billion dollars out of this market if all crypto were to be sold out completely. The point is, there is little to no real use in cryptocurrencies (unlike gold) which would prop up the prices at a certain level, so when everyone sells out, the price goes to zero

I was just giving the official numbers, however you are right, this market is way smaller than that figure, which leads me to think what it is the real size of this market?

I guess it's impossible to tell in advance. As we can find that out only through empirical evidence (as in hindsight). More specifically, we could arrive at a very strict and robust figure but only after crypto has either collapsed completely (read, it disappears entirely like it was 2007) or gone down so much that the margin of error becomes statistically irrelevant

And then we could analyze every trade made and see how much the market was really worth at a certain point in time all the way down the road (by looking at the price and volume dynamics). The takeaway is that we can't obtain the real size of this market but simply for practical reasons (not that it is impossible per se)

If anyone knows better, you're welcome to chime in

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Quote from: EdvinZ on January 17, 2020, 03:17:21 AM

Yes, I also think that cryptocurrencies can't disappear without some good reason. And this should be a very significant reason, like a global Internet blackout, which is basically impossible. Bitcoin is decentralized, which means that no regulators can influence its disappearance. In addition, people like Bitcoin, which further strengthens its position.

actually this can not happen, or it is very difficult. in fact, this is only an estimate, and the answer is very clear that it will cause panic. this happens if cryptocurrency is truly illegal throughout the world. but it is very difficult, because even illegal things still have high prices, moreover cryptocurrency is a technology that needs to be developed

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Quote from: EdvinZ on January 17, 2020, 03:17:21 AM

Yes, I also think that cryptocurrencies can't disappear without some good reason. And this should be a very significant reason, like a global Internet blackout, which is basically impossible. Bitcoin is decentralized, which means that no regulators can influence its disappearance. In addition, people like Bitcoin, which further strengthens its position.

It isn't possible to find reasons for the vanishing of cryptocurrencies. If this is supposed to be vanished, it could've took place long back during the early days of cryptocurrency market getting widen. Right now the market is so big and if somewhere the growth gets disturbing, from the other end the growth seems to progress high. Right now much discussions were about the cryptocurrency going mainstream.

EdvinZ

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Yes, I also think that cryptocurrencies can't disappear without some good reason. And this should be a very significant reason, like a global Internet blackout, which is basically impossible. Bitcoin is decentralized, which means that no regulators can influence its disappearance. In addition, people like Bitcoin, which further strengthens its position.

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Quote from: Wysi on December 21, 2019, 01:20:10 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?

It is impossible because like drugs, even it is illegal it consumes by everything and if bitcoin being illegal but has a contribution or can help a lot of person and million do consume it, it would run secretly by a large company or large person who trust bitcoin in the future.

The value of bitcoin now was too expensive and that was too hard to manipulate by government because it is focus on real money.

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