What if crypto vanishes? - page 4. | Bitcointalksearch.org

bohr

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Quote from: luppecuppe on January 12, 2020, 09:18:02 AM

Cryptocurrency has entered our lives now. This is very difficult to change. All internet must be disconnected for Bitcoin to disappear. What's the purpose of Bitcoin? It is the transfer of value from one place to another. He already does that. I don't think it's gonna disappear.

While the disappearance of the Internet may seem like the only way to stop cryptocurrencies at the moment we should not underestimate the governments, they have all the resources in the world and if they want they can hire the brightest minds to try to stop cryptocurrencies without shutting down the Internet, so it is important to not be that cocky and think that cryptocurrencies are invulnerable because we do not really know if they are.

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

Quote from: bohr on January 11, 2020, 11:40:09 AM

That is really doubtful, a market of 200 billion may sound like a lot for people like us but when it comes to the economy that is not really a lot of money, this market is still very small and the only ones that will be greatly affected by it will be people like us, even if we are not holding a lot of bitcoin that bitcoin is probably a significant part of our portfolios, and even if the whales will lose a lot more money than us many of them have cashed out part of their bitcoin and they will be fine if the market of cryptocurrencies crashed

This market is way smaller than 200 billion (dollars)

In fact, any market is smaller than the reported number as this number is mostly an illusion (or mathematical abstraction of sorts if you please). For example, the gold market is said to be over 7 trillion dollars, but if everyone decided to sell their gold and liquidate, they wouldn't be able to get even half of that money

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?

tartibaya

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I don't think cryptocurrency will disappear. So many people are investing here. But most importantly, whales shake here. Sad but true. There are those who take advantage of the brutality of this market. They do not easily destroy this market.

Cnut237

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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?

This only happens if crypto has absolutely no use-case, which we know is not true. Prices fluctuate, they fall as well as rise, but I can't see that some new as yet unheard of technology will suddenly render all of crypto obsolete.
The reason we may worry that prices will drop to zero is that the markets are so speculative and so dependent on consumer confidence, but that doesn't mean it's 100% speculative. Crypto fulfils many real needs, and has many genuine reasons to exist.

Edraket31

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Quote from: judeafante on January 12, 2020, 08:47:45 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?

Although not realistic, but if Cryptocurrency vanishes, then we will just be back from where we are back 2009, but it's going to hard to forget Cryptocurrency and developers will find a way to create a similar technology, but honestly it's like the internet that will not go away.

Then our works and hardship will just vanished instantly and the hope that we had to have a decentralized money or to have a digital currency won't come true anymore and it will be hard to produce another crypto again as for sure the trust has been damaged already, people won't bother to invest on it again.

luppecuppe

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Investing in cryptocurrency has become very popular lately. But it makes no sense to make all your investments in this market. If Bitcoin disappears, some people may return to their pre-2009 lives. However, I do not think this market will end.

judeafante

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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?

Although not realistic, but if Cryptocurrency vanishes, then we will just be back from where we are back 2009, but it's going to hard to forget Cryptocurrency and developers will find a way to create a similar technology, but honestly it's like the internet that will not go away.

DevilSlayer

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If you are asking what if cryptocurrency vanished, you will find out that there will be a chaos and crashed that will happen. Most of the economies are starting to adopt blockchain and cryptocurrencies because of its good functions and uses. People are now also tired in using fiat money because of its slow transaction. The payment system is continuing to improve because of the cryptocurrencies. Our economy will gradually go down if that happen but the thing is it is impossible to happen because there are no other entity or governemnt that can bring down bitcoin and the whole cryptocurrency market.

outatime1

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Quote from: heidikim on January 12, 2020, 04:56:34 PM

I think there's no such thing as deleting the market for Bitcoin. Let me give an example. How does a country's currency disappear? If the country disappears, the currency will disappear. However, bitcoin is not the property of any country. So bitcoin doesn't have a single judge. The only thing he leans on in this case is the internet and mathematics.

I think you are correct. Even if a country over-regulates Bitcoin, there are many other countries that will still embrace it and it will thrive. The fact that it is global makes it stronger.

heidikim

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I think there's no such thing as deleting the market for Bitcoin. Let me give an example. How does a country's currency disappear? If the country disappears, the currency will disappear. However, bitcoin is not the property of any country. So bitcoin doesn't have a single judge. The only thing he leans on in this case is the internet and mathematics.

Faxmate

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Quote from: bobitza on January 12, 2020, 10:20:26 AM

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?

If the cryptocurrency disappears maybe overnight, the holders of cryptocurrencies go bankrupt. But cryptocurrency is not the official currency of the government, so it doesn't affect many people. And if cryptocurrencies disappear, it won't hurt the economy. Because not every business deals with cryptocurrency. Life goes on and on. And what do you think if one day the cryptocurrency disappears.

well here everybody focus on the word "IF" so the first thing that came to my mind is that the crypto currency will not vanish at all nor it will disappear, so i think its just a fiction to think that crypto currency will disappear, i think we should not worry that crypto will vanish and people will become poor and their investment will gone.

bobitza

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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?

If the cryptocurrency disappears maybe overnight, the holders of cryptocurrencies go bankrupt. But cryptocurrency is not the official currency of the government, so it doesn't affect many people. And if cryptocurrencies disappear, it won't hurt the economy. Because not every business deals with cryptocurrency. Life goes on and on. And what do you think if one day the cryptocurrency disappears.

Kevondo

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Quote from: diazepam666 on January 11, 2020, 02:39:40 PM

It will not happen bro,
If the market collapsed and no more decentralized cryptocurrency means also we can see the centralized cryptos for sure because blockchain is the future of financial systems.

I had same point in mind. There are banks and companies who have started using blockchain in their system and many are planning to launch their own crypto currencies which would be most probably centralized. This is not possible for anyone to make crypto currencies disappear from the world until and unless people don’t get access to internet and that is obviously next to impossible.

AicecreaME

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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?

At that time, the rich will have to find another low-level job and many will have to commit suicide due to trust in crypto. and it's hard to imagine a scenario where more than $ 200 billion is out of the world, there will certainly be a financial crisis again. because not only ordinary people like us are trading coins but also financial institutions, banks and even some central banks like in Venezuela. Therefore, the fall will bring a lot of negative things to the whole world.

This is not even convincing but funny at the same time, sorry but I guess you are over reacting, the rich will have to find another low level job? really? why would they bother doing that if they are already rich, and committing suicide? oh come on man, that is not going to happen. There is a lot of alternatives to earn money, they will not do that, cryptocurrency users are smart enough to save some cash in their vaults for emergency.

Be wise, to avoid being paranoid and for some peace of mind.

pikkie

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Quote from: wildan88 on January 12, 2020, 04:27:37 AM

Quote from: diazepam666 on January 11, 2020, 02:39:40 PM

It will not happen bro,
If the market collapsed and no more decentralized cryptocurrency means also we can see the centralized cryptos for sure because blockchain is the future of financial systems.

that's just wishful thinking, but that might happen to crypto because what they need is blockchain technology for adoption, not crypto itself.

I totally agree with your statement because I see a lot of coins and tokens that are created but cannot have very high prices while the number of people in this world is very much should be able to make the price of coins expensive, but it is true that the transactions used are only limited to technology, whereas coin may have a less good side to be used by many people.

meliodas

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Quote from: luppecuppe on January 12, 2020, 09:18:02 AM

Cryptocurrency has entered our lives now. This is very difficult to change. All internet must be disconnected for Bitcoin to disappear. What's the purpose of Bitcoin? It is the transfer of value from one place to another. He already does that. I don't think it's gonna disappear.

That is what bitcoin supposed to do but right now, it is now more into being an asset rather than a tool to transfer money from one person to another. There is already a lot of cryptocurrencies existing in the market and I believed that we should not just focused on bitcoin because there are also altcoins that can do better than what bitcoin offers.

luppecuppe

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Cryptocurrency has entered our lives now. This is very difficult to change. All internet must be disconnected for Bitcoin to disappear. What's the purpose of Bitcoin? It is the transfer of value from one place to another. He already does that. I don't think it's gonna disappear.

BChydro

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Quote from: johnwest on January 11, 2020, 01:14:43 PM

We wont be here talking about it because the whole internet will be down when that happens.. Otherwise How.? Just think of a way how crypto may vanish in a night..? If there is internet then crypto will be. Its not easy to kill crypto in a month or a year if thats what you meant, because to even find out and stop the projects and companies, it will take more than a year.

When we talk about the entire internet should be down for the entire crypto market to vanish, the ICO market is almost dead and in a few years IEO market will be dead for good and when there is regulation the anonymous coins will be pushed to the dark market as they will not be allowed to trade in the regulated market until they give the cryptographic key to the government to monitor the transactions, so then we will left around with a few chains and in the next ten years we will see only bitcoin ruling the market even if you like it or not Wink

.

wildan88

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Quote from: diazepam666 on January 11, 2020, 02:39:40 PM

It will not happen bro,
If the market collapsed and no more decentralized cryptocurrency means also we can see the centralized cryptos for sure because blockchain is the future of financial systems.

that's just wishful thinking, but that might happen to crypto because what they need is blockchain technology for adoption, not crypto itself.

deisik

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Quote from: bohr on January 11, 2020, 11:40:09 AM

That is really doubtful, a market of 200 billion may sound like a lot for people like us but when it comes to the economy that is not really a lot of money, this market is still very small and the only ones that will be greatly affected by it will be people like us, even if we are not holding a lot of bitcoin that bitcoin is probably a significant part of our portfolios, and even if the whales will lose a lot more money than us many of them have cashed out part of their bitcoin and they will be fine if the market of cryptocurrencies crashed

This market is way smaller than 200 billion (dollars)

In fact, any market is smaller than the reported number as this number is mostly an illusion (or mathematical abstraction of sorts if you please). For example, the gold market is said to be over 7 trillion dollars, but if everyone decided to sell their gold and liquidate, they wouldn't be able to get even half of that money

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

diazepam666

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It will not happen bro,
If the market collapsed and no more decentralized cryptocurrency means also we can see the centralized cryptos for sure because blockchain is the future of financial systems.

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