For more it definitely would be. Imagine how many long, short term holders would lose. Complete disaster. But others will see a chance to buy, invest, because the price is so low and it will increase soon in the future.
For me it wouldn't be disaster, I believe in benefit of the technology behind it.
Topic: What is the Worst Case Scenario for Bitcoin? - page 2. (Read 991 times)
This is a known fact if the price goes up it will surely go down. What happens if the price of Bitcoin falls to $1000 in 2018, will this be considered as a Worst Case Scenario or something else?
I am not afraid of getting a low price of bitcoin but, what makes me scared of is that if bitcoin dies. I know there are bunch of coins could replace bitcoin like ETH but for me Bitcoin is still and will be the best all over the crypto world. Seeing bitcoin in cheap price is just normal because it is volatile hence expect that the price could fall or increase, in this situation, it is better if we will buy and hold it for a long period of time.
the worst scenario for bitcoin is that bitcoin is back plunging into a very cheap price and bitcoin has no permission anymore and finally makes bitcoin worthless.
After all.. it's unlikely that the price will really fall to $1k, even though it's like a scenario.. but basically it still depends on the factors of supply and demand, if indeed the price is low there are still many who buy it because the role is still important and plays a good role. anyhow the journey is, it's likely that it will always be in the dependence of many factors also the other matters related to its acceptance which really can't be ascertained.
As long as there is no mass ban for crypto, and everybody uses crypto. There no such thing such as Worst Case scenario for Bitcoin. Whats happening now is Bitcoin is going down and down for a major consolidation. This is pretty healthy.
Everybody does not use crypto. Actually almost no-one "use" crypto. Some HODL it, but no-one uses it which is also why eventually it will diea slow death
As long as there is no mass ban for crypto, and everybody uses crypto. There no such thing such as Worst Case scenario for Bitcoin. Whats happening now is Bitcoin is going down and down for a major consolidation. This is pretty healthy.
Bitcoin will not die, I think. But against the background of the fall of the bitcoin course, many people will be disappointed and will come out of bitcoins. Panic will be in the hands of those who remain. As always, the strongest and most patient will win
This is a known fact if the price goes up it will surely go down. What happens if the price of Bitcoin falls to $1000 in 2018, will this be considered as a Worst Case Scenario or something else?
Eventually I think that this would not happen, I would believe that but current price will decline to $5,000 but to say about $1,000 it is really to low for it. But anyway who can know for sure, 3 years ago the price was like that.
In all sincereity, i think we have gotten to the worst case of bitcoin as this is the bottom and we should be seeing more upside from here in bitcoin
If this thing will happen mate, i think yes, this will be the worst scenario that will happen into bitcoin. Because as we can see that every year, btc rises a price and the sad thing there is it now at the deep. Hope that at the end of the year, its price will go back into normal or rather stable.
Bitcoin will always stay stable and keep its top spot, none of the worst happens because bitcoin is a typical coin in Cryptocurrency.
Always stay stable? It has never even been close to stable. It has always been extremely unstable
Bitcoin will always stay stable and keep its top spot, none of the worst happens because bitcoin is a typical coin in Cryptocurrency.
The worst case for Bitcoin is probably the rapid development of other coins, Bitcoin cannot keep up, so bitcoin prices cannot increase but continually decrease.
I think that we should expect only the best possible scenario for btc development. it will replace our current main currency and will become the main one in the market. To my mind, it is obvious
That a huge structural fallacy is found, that will make it crumble to zero because it will immediately become unusable. The most possible option in this scenario is quantum computing reaching a status where Bitcoin’s cryptography can be broken in acceptable time, like some days.
That would definitely destroy Bitcoin… but it must be said that there are countermeasures ready for this scenario, like of course different cryptography methods or empowering the actual method (which wouldn’t require toooooo much work). But anyway, Bitcoin’s price would suffer an enormous impact of distrust, until the new cryptography system is implemented.
In any case, if this would happen, I would buy Bitcoins after the price reaches the low, this is sure.
That would definitely destroy Bitcoin… but it must be said that there are countermeasures ready for this scenario, like of course different cryptography methods or empowering the actual method (which wouldn’t require toooooo much work). But anyway, Bitcoin’s price would suffer an enormous impact of distrust, until the new cryptography system is implemented.
In any case, if this would happen, I would buy Bitcoins after the price reaches the low, this is sure.
Since Bitcoin is changing the way transactions happen, it is breaking the limitation and dependency which we have on Fiat currency currently.
-First case can be a government ban over usage of Bitcoins.
-Second case can be a crash of any huge bitcoin mining firm which may occur due to hacking or any other security lapse.
-Third can be nonacceptance of Bitcoins from people who are not able to understand how it works.
When we deep think on how bitcoins work, we would know that it is a next generation technology, there is nobody who holds it, no authority who regulates it. The value is auto decided on the basis of demand and supply. Usage is a like a computer program sent from one wallet to another. This may create a “Who moved my Cheese” Scenario for financial authorities.
-First case can be a government ban over usage of Bitcoins.
-Second case can be a crash of any huge bitcoin mining firm which may occur due to hacking or any other security lapse.
-Third can be nonacceptance of Bitcoins from people who are not able to understand how it works.
When we deep think on how bitcoins work, we would know that it is a next generation technology, there is nobody who holds it, no authority who regulates it. The value is auto decided on the basis of demand and supply. Usage is a like a computer program sent from one wallet to another. This may create a “Who moved my Cheese” Scenario for financial authorities.
If Bitcoin drops to under 1000$, we still can hope a recover by efforts of loyal investors. But if someone find a way to control 51% of its blockchain, Bitcoin will be under the control of that person. And they can destroy Bitcoin.
It's it not the price going down but the shock forcing the price down that is the worst. Depending on what the factors are, Bitcoin will be likely to bounce up or not. If all governments decide to ban Bitcoin, though it may be exchanged underground, it will definitely drastically drop and hardly recover. But if the cause for the drastic drop is the manipulation of the whales, then there is a likelihood that Bitcoin will gain its value.
The worst case scenario is when people don't value the bitcoin anymore and consider it as just a scam. All the hardwork of the creator and the miners will go to waste. Another is when the hackers stole a lot of bitcoin and don't use it but we all know that this is impossible to happen.
Bitcoin is facing higher lows and lower highs for the past few days in case of prices, which is indicating a downward climb in the prices. It is for sure that the prices will drop but I don't really think it will drop to $1000. Even if it does, then that's gonna be one bad time for Bitcoin, but I know it will be able to overcome it sooner or later.
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