Bitcoin Forum

Suppose you woke up tomorrow morning and found that Bitcoin had dropped to 0$, or that Bitcoin had disappeared or been scammed. How will you be at that moment?

What ways could you see any of this happening?

If bitcoin went to $0, I'd probably be buying more. If it were hacked, there are enough copies of the chain it might just be rolled back to a point where it worked (there are sometimes warnings to not send transactions around hard forks for example just in case rollbacks are necessary).

I think it's wise to come up with plans for what you're going to do if you're all in on bitcoin though and I think most people should have diversified portfolios and only invest their risk tolerance in crypto.

Suppose you woke up tomorrow morning and found that out of nowhere despite all the revenues in the world Amazon and Apple for some reason shut down due to bankruptcy, and Tim Cook and Andy Jassy suddenly scammed the whole world of their order packages. How will you be at that moment?

Sounds totally absurd and impossible to happen yea? Exactly.

It is common to see people thinking regretting they didn't bought bitcoin at 30k...
But when it reaches 30k again, people are afraid to buy it.

I can really get why people do that. Because they think it was easy for us to buy bitcoin 2-3 years ago. But it wasn't.

It is always risky to buy bitcoin. It was never really "cheap" at the moment.
Does bitcoin looks cheap for you now? I don't know, but my guess is that everything (from stocks to bitcoin)  is cheap now, and it is worth getting exposed to different risks and assets.

Bitcoin won't go to zero. But if it does drop to 20k, I know most people will be afraid to buy it. This is when we need to be brave and greed. Not when it is in ATH.

I would buy as much as possible if BTC went back down below a dollar and I would hoard it like a maniac.

It feels weird to respond to the question, because there's no way that all of the bitcoin would just disappear or be scammed without there being something imminently more important that caused it.

That being said, nothing lasts forever and I'm sure there will come a time when we get beyond BTC.

Those who fear bitcoin being a scam or having no value later on already regretted that they didn't buy bitcoin before or when they first knew it. Many already trust bitcoin as an investment, just look at the price now of bitcoin from how much it started, it's because of the adoption and how people trust and sees it's importance. Being too negative or having fear too much to try will not lead us into any profit. And Im glad I try and trust Bitcoin even before and how it is capable soon to recover from this bear again.

When creating a what if scenario it is not enough to introduce the scenario, you also need to explain how it could come to happen, I say this because there is no way for bitcoin to reach a value of zero.

Is it possible for the price of bitcoin to drop significantly? Yes, and we are seeing that right now, however a decentralized network in which you can exchange value without the banking system will always have value, so the scenario you are bringing is simply not possible.

Just imagine all those people who wish for a time machine to go back in 2010 to buy only bitcoin. They are likely to get that excitement like me. Because if bitcoin reaches $10k, lots of people will buy it, or if you are thinking about $0. But I don't think it will happen because no one will sell bitcoin at $0. So the buyer has to increase the price of bitcoin to buy bitcoin. So the bitcoin price won't dump until the seller sells it. So $0 is a useless number. Now if I lose the wallet access, then there is no option except to start a new beginning. That's my opinion. Thank you.

It's more probable to wake up in the middle of the night to the explosions of nuclear weapons than it is to Bitcoin suddenly going down to 0. We get these questions whenever the charts don't look so bright. But you can't expect it to go up forever. It would be great if it did, but that's not how any of this works. If you believe in the advantages that Bitcoin offers, have faith that it will show through the price.

First scenario; Bitcoin going down to $0. That would be a huge shock on my path, I'll probably be stunned for quite a while as I cannot think of any logical reasoning for that to happen; and my first step would be to know what might have caused that, let's say there was a hypothetical reason that made Bitcoin to lose all of its market value but doesn't inherently affect how it operates, I'll definitely possibly buy more and hodl, hopefully the world comes back to its senses soon. I'll be wary of such situation happening again.
If it was a situation that does affect the integrity of the network, I might hesitate a bit to determine to what extent, before deciding if to buy or not.

Second and third scenario; are literally just wild assumptions. An individual can make a mistake and their bitcoins disappear or are stolen, if I were to be in that situation, it would be a huge burner and I'll have to start building from scratch again to grow my Bitcoin portfolio.

The entire network cannot disappear or get stolen.

I wouldn't care one bit. I knew from the start that it was an experimental tech which could go poof any moment. I knew the risks and bought it anyway.

If somebody said this is the safest and fastest way of getting rich and you believed him then you are the only one to blame.

"With great risk, comes great rewards." -Uncle Satoshi

Even this is just a situational question, I don't really think that it will happen.  ;D
But let's say that it will then I'll just go back to the usual things that I've been doing and I'll do more and exert more effort more than that I do so that I'll become wherever I am because of holding bitcoin.

Isn't it the same with the normal investments now ? There is a lot of economical instability at the moment, did you imagine that there will be a war in 2022?we had no idea about the pandemic as well at the same time we do know that the government is not making that many good decisions as a whole therefore I do think that bitcoins disappearing would be the least of our concerns, the investments would all be affected and at the same time bitcoins is an integral component of some governmental bodies as well therefore if it's shattering the most profitable investment then it's shattering all of them as well.

Although this is materially impossible (unless there is a global-scale movement against cryptocurrencies), then I think this would convince me to purchase at least a thousand BTCs and HODL them for long-term. Even if there would be a movement against such cryptocurrencies, the value of purchasing them relative to the hope of their prices increasing in the near future is high. I guess everyone would exactly do this movement and its price would skyrocket eventually in the market.

To the people who decided to stop investing, that would be a huge mistake. Again, what drives the price of BTC is the law of demand and supply. Assuming that this were the case, then everyone would be purchasing cryptocurrencies in the market, thereby increasing its price.

Lol..you know it's not possible for bitcoins to collapse totally without no remainder..if bitcoin dropped tomorrow beyond your imagination or my own imagination, it's drop has create avenue or opportunity for l to buy as much as i can i return, because looking at it from another dimensions it will also return to the initial point..all these, is base on assumptions, If or Not. [ Under probability]

Wait, did you quote the words DAN PEN that went viral? laugh out loud
It requires something tangible and proof. If it's just wishful thinking, anything can happen. But there must be a cause and effect and one of the effects that I think is true is the apocalypse. As long as the internet and all access can still be used, then in my opinion the existence of Bitcoin will not be 0.

https://www.youtube.com/watch?v=NXKUF-qtnlA
https://i.ibb.co/8Mzr81z/image.png

This statement does not correlate with the title.  Just because you have an assumption does not mean you have a sound argument or have the right to question one's reputation.  You must laid your proof first to support your assumption and when your proof is valid then that is the time to question BTC's reputation.

Questions like this do really pop out whenever bitcoins price do really dropped that hard which is something not really that new but to answer it out then if it goes to $0 then
you could obviously able to tell even when its still heading way down on which it is really been overtaken with some top altcoins for  sure and with that alone you could
already tell that people do make out some switching of trust and support.So whether you do accept your losses and jump immediately to other or would
simply buy to the lowest low.

Stop imagining things you don't need, my friend, why should you think about something that won't happen?
things like this will only make you dizzy in the middle of the onslaught of corrections like now.
I do not rule out the exact possibility that will happen but something like this will not happen in just a moment or even a day. this is quite impossible

Yeah, I had read this kind of sentiment every time BTC price goes down or BTC enters the bear market.  Never that I think that BTC will go down to zero, even in probability, the possibility of BTC going zero with the current trend of its market is nearly impossible.

If your new to this kind of game better if you do cut loss now and wait for the movement of bitcoin the be at calm state or maybe just try to analyze how the market work at this moment since you can learn something big especially we are now on bear market condition. If you listen on wrong information you can call bitcoin as scam but if you just been resourceful you can point out that this is normal cycle of the market.

It will be a great news because people that have $100 worth of bitcoin will be holding 100BTC when it eventually gets to $1. The goal of the technology is to hold, no matter the circumstances. They is no way people will regret why satoshi ever birthed bitcoin to this earth. You should have a positive thought about bitcoin not a negative one. You should be asking if we wake up to 100k per bitcoin. Because our thoughts are powerful. If bitcoin drops to $0 I'll hold you responsible ;D ;D

OK, let's prove it!! no need for example tomorrow morning wake up. We can bet like men if tomorrow doesn't happen to Bitcoin, what can you bet?

It's not that easy, for example overnight. bitcoin is not a gamble that makes you lose 100% in a few seconds. We are already at the highest adoption. Nayib Bukele has made another purchase if logging into Zero just because of a drastic drop then you're wrong to come here and create a thread that can't be proven.

How can you think all these impossible things about bitcoin?  For me, i won't resort into panic as i'm confident to say that bitcoin will never end up like this. Yes, its price may drop continuously but it will always find ways to recover. And there is no way that bitcoin will become a scam, since there is no such coin to live more than a decade and yet, still end up a scam. But for shitcoins and all those meme coins, they may fall into scams in the end.

Bitcoin is not dollars, so Bitcoin cannot be $0. What you meant I believe is if the dollar value of bitcoin is 0. Then, it means that each and everyone of us will have plenty bitcoin then.
I would say I'll buy more, but it might not be possible because bitcoin will have no dollar equivalent. But if we can buy with gold or other assets, I will have to accumulate more bitcoin and we will start again.
That scenario will happen if there is zero demand, but is it really possible?

Maybe this is not a funny question, this thought only occurs to people who have no faith in bitcoin and panic is covering them. It is also understandable if OP is a newbie to the market and has never experienced major market corrections.

If OP is holding bitcoin or alt , you can cutloss and secure the asset when you no longer trust bitcoin. If this is just a fun question and you have full confidence in bitcoin then buy bitcoin from now on and keep holding until bitcoin rises again.

Non dream for such action or event to happened any day maybe what is actually going on presently is to give a brand new opportunities to those who missed it at first phase were it was $8k to $15k and now they another great chance to buy again. So for me it's best time to acquire loads and brunch of it and get ready for the next move or hold for long.

We think negative thoughts all the time, never think positive thoughts. Suppose you wake up and see that Bitcoin has gone to $100k then what will be your attitude or thinking about what position you will be in when you wake up.Similarly, if Bitcoin moves to $0k we will have the opposite attitude.

Amazing. You read my mind.

OP, If you have such thoughts, please tell me how much bitcoin should be worth so that you really decide to buy it. I guess you won't buy it no matter how much it costs. If the price of it grows very quickly, you will say it is very expensive. And if the price falls, even then you will find excuses, saying that something will go wrong now.

It is from this that the world is divided into those who believe in bitcoin, and those who are still on their way to it.

Maybe if this is the beginning of bitcoin, this kind of thoughts would have crossed our minds. But it has been in existence for more than 10 years and we have seen the price grows. So I doubt that this kind of scenario will happen in the future unless all bitcoin holders, investors, speculators, traders, whales, retail and, institutional investors suddenly sold everything. So what are the chances that will happen?

How will I be? of course I will sleep Again because surely this is just a Nightmare that I must woke up  ;D

it has been asked several time according to my memory but only troll takes it seriously .

because a true Bitcoin supporter and believer will never let this thinking crosses His mind ,

When Bitcoin will finally be dead...that is it has gone down to $0 and therefore has no value at all then I would be getting all the money I got and buy as much as I can...because for sure I can sell it by making my BTC as NFT. Okay, am just kidding. Now, having said that, we have to notice that every time Bitcoin is in trouble people can be asking many negative questions and can be expressing a lot of fear...but as soon as the price will be moving up again we then forget everything and just get excited for it. How many times has had Bitcoin died already...and how many resurrections it was able to accomplished so far?

It’s literally not possible for bitcoin to go to zero over night. It’s just like with the stock market, I often get asked by clients “what if all my money goes to zero one day” this just isn’t realistic. In regards to if we found out it’s a scam, this is impossible as well. Bitcoin is virtually open source, we can fully see how it operates therefore we already know it’s not a scam.

these kinds of thoughts are what cause people from buying at these kinds of levels. its only people who dont arent investing what they can afford to lose that takes things to heart and over calculate. there is a high possibility that what are thinking wont happen, even if its happen it wont be overnight except you dont know how bitcoin works or its tetchnology.

This is unbelievable. Bitcoin will never turn into a scam and will never drop into 0 value. A single coin will only be valueless if there is no longer demand anymore. But with bitcoin, the demand is still very high. Although its price has dropped significantly in the past few days, but we have always seen it recovering. However, what you are saying could only happen to shitcoin. And bitcoin will never be a shitcoin, that's for certain.

How on Earth could you thought of this at first place, I think its high time for you to understand that bitcoin is quite different from altcoins almost referred to as shitcoins, this is what you should expect as a bitcoiner, volatility is not something of much concern in bitcoin price and if you give it a closer look base on the past years of event of Halving.

You could deduce that whenever the price is about to rise then it falls but not as below where it was before the previous Halving that occurred not to now talk of going as total down to $0 which is an indication that you don't understand how it works with price volatility or probably you don't understand the distinct difference between bitcoin and altcoins.

God bless you for this wonderful points, assuming this thread was about shitcoins, I would not have any doubt the fact that it could be scam or could varnish anytime. But, we are talking about Bitcoin here, hello!! BTC is here to stay, it’s about time we understood this fact. I have bitcoin and my trust in it is always 100% whether the market is going down or not. It’s not like having shitcoins, if that’s what I had, I will stay be very afraid.

It is quite impossible because bitcoin is not a scam. Such large valuation assets have a significant impact on the world economy.
Moreover, by chance, if it happens do not panic and plan your future moves because ups and downs in trading are very common.

It will always be possible. OP got a point here, we will know what will happen in the future, I am not saying that I am negative on Bitcoin. I hold Bitcoin too for the long term.
To answer the question of OP, I'll move on and accept it. Even though it is impossible for me but if that day will come, I have no choice, I was once a believer and I am not the only one that will get disappointed for sure.

if that happens, of course at first we will feel like the world is doomed because many of our treasures will be lost. if bitcoin $ 0, then other altcoins will not survive either. so this will be horrendous news in the world. learn from luna, there are some people who are said to have committed suicide, especially if this happened to bitcoin. but I will not do that, because some of my assets are diversified into other assets outside of crypto

If you are going to imagine silly scenarios why is it always some sort of doomsday scenario when things turn to shit why not imagine the opposite silly scenario for example suppose tomorrow morning when you wake up you see 1 bitcoin is worth $1 trillion. What would you do then?

If it drops to $0, then I will double-check the quotes, because BTC will always be worth at least something. If someone says that this is a scam, then it simply will not make sense to believe it, since there is a whole system of evidence that can refute this reckless statement.

All this is only possible in an alternate universe where everything was different.

Bitcoin price is not permanent but i believe that cyrpto currency will not disappear unless there is a great distruction or a great war of different countries. Bitcoin price will not easily lost its value.

I really don't think that bitcoin can go to zero overnight. It should be more than that.
In that case we will get enough time to liquidate and get out and may be buy more at the bottom.
Bitcoin cannot just disappear just like that because it is open source and the network is spread out across the globe.
The only way we can get scammed is if someone executes a 51% attack and in that case there's pretty much nothing we can do as an individual.
We can try selling but the network will be so congested that we won't be able to transfer our coins to an exchange.

I don't have to imagine and think for something that I don't think will happen, it's just a waste of time. There is much more important work than having to think and imagine bitcoin will be $0 let alone overnight. Indeed the price of bitcoin is no but and moves both ways, but if it turns to zero, it is impossible.

first of all erace that mentality from your mind because it's not possible with bitcoin, i may not say about other cryptocurrencies since most ended as a result of failed projects, it your bitcoin disappeared then i think you were hacked or scammed due to your carelessness and we have many people that have been a victim of that, but bitcoin "can not" go down to 0 as you thought because its not a shitcoin, and whenever there's a dip in bitcoin price speculation, investors find it joy to invest because of the certainty to rise after somewhile.

Mate Bitcoin is trustworthy because if it is not trustworthy it will not be lasted for this year's, the people who introduced bitcoin to the world, after launching it in 2009 they knew that bitcoin will be a continuous netvalue currency. From what i have seen in bitcoin, i will give it a seventy percent that is trustworthy. Op bitcoin can not fall to the zero again, the stage has passed, because assuming it is the time we found bitcoin newly i will agree with you. But this is thirteen or fourteen good years bitcoin has being trending everywhere and it haven't Fall and reach from the starting point rather it goes up and up

Isn't that amazing? We can't just buy bitcoin cheaply but we can get bitcoins for free this time lol but seriously I don't think that would happen. Only scam coins can turn to zero but if you look all legit cryptos and altcoins, do see a zero value? I believe none. Sure their value can dump too much adding a lot of zero's on their price tags but still they didn't completely drop into zero.

The same thing can also happen to bitcoin, its price can dump down to 20k, 10k, or even 3k but it won't hit zero because many people are buying and taking advantage of the dip which results for the price to recover and pump. You can get scammed and your bitcoins can be stole in your possessions, that's the only thing that can happen to you if you will not guard your bitcoins properly.

This is true, bitcoin couldn't go away, it will stay because we are talking about even nations investing into it right now which means that in order for it to "go away" it needs to have some coding error or something and I am sure that something that reached 2 trillion dollar market cap as a whole (all of crypto) will already have enough people trying to find any error, and there must be none since bitcoin never had anything like that.

This is why all those big companies and nations will keep on buying as long as the price goes down, and they will make profit from it when they hold it longer than the retail investor. It is not going to happen at all.

I'll buy all of those available bitcoins for free.

And there's still some use that I can do to them just like storing them and having this piece of history that once became a great asset for the entire world.

There's that value that can't be removed on it even the monetary value goes to zero. The sentimental value and impact it had to many lives including me is priceless yet precious.

Do you think it's possible from the current price around $30K and tomorrow it will drop to $0? lol, that's really unrealistic imagination. Bitcoin isn't a shitcoin, it wouldn't drop 99% in a single day, don't compare with LUNA shit.

Talking about Bitcoin will disappeared and scammed the holders, you're actually doesn't undertand anything about Bitcoin, you might think it's just a random number generator appeared on your screen.

With the current stage at which bitcoin is at, I don't think bitcon can never turn to 0$, bitcon have faced different challenges and bitcoin didn't turn to $0, so why do you think Bitcoin will turn zero. The only thing am expecting from bitcon now is massive pump and not dump, Bitcoin have been in existence since 2009 and have faced different challenges, lots of countries have tried to stop bitcoin from growing by banning bitcoin but bitcoin is still growing on daily basics, so I think is high time you stop thinking like that and think positive.

I would surely be devastated,
But we all need to have some back up not just rely on crypto for your main source of income.
If you have other source of income other than crypto you could just easily go on with your life.

Of course I would not be surprised, because before investing, I certainly studied the risks of investing and also the profit of investing. but in my opinion if bitcoin dropped to 0 dollars, of course before it went to 0 dollars, many people would have bought it. so of course the price of bitcoin will remain high because of the many fans.

We do not know when to get sick and when to die, for sure nothing in this world is eternal, period.

Internet, Bitcoin, crypto and the like are all man-made, today you see successful people, tomorrow you see the same poor people, who would have thought, on the other hand you wake up and see Bitcoin breaking through to the $1000k level and maybe you wake up to see Bitcoin to 0, so think about what is now, don't think what you don't know.