Will Bitcoin become worthless?

[derpinheimer]

Worthless? Probably not. Worth very little, as in.. 1BTC -> 50 McChickens or less? Yes.

[Ekaros]

Worthless? Probably not. Worth very little, as in.. 1BTC -> 50 McChickens or less? Yes.

I think it might end up even in cent range per coin.

The one group that will stay just occured to me. There is small hardcore group that will continue to use it even if the value plummets. Though there might be issue of available hashing capacity compared to value of currency, but someone is ready to pay that premium.

And from that group there is also part that moves to next improved coin. And the forks of used coin...


So not zero value, but near there...

[hostmaster]

I have a question which I haven't found a good answer to will Bitcoin become worthless when there is 21 million Bitcoin in existence? If not why would they not because Bitcoin is worth as much as it is now because people want to invest to sell for more in the future when do we expect Bitcoin to reach 21 million.

I think it'll be even more money because scarcity will start!

[derpinheimer]

Worthless? Probably not. Worth very little, as in.. 1BTC -> 50 McChickens or less? Yes.

I think it might end up even in cent range per coin.

The one group that will stay just occured to me. There is small hardcore group that will continue to use it even if the value plummets. Though there might be issue of available hashing capacity compared to value of currency, but someone is ready to pay that premium.

And from that group there is also part that moves to next improved coin. And the forks of used coin...


So not zero value, but near there...

I just imagine a lot of people will refuse to sell their $1000USD bitcoins for less than at $100 each. And the lower you go, say $25... is it even worth it? If you put a million dollars in at $1000, it would be 25,000 at $25. And of course, $1 = $1000. Would anyone even bother? It just seems unlikely for there to be enough selling pressure in the tens...

[porcupine87]

I have a question which I haven't found a good answer to will Bitcoin become worthless when there is 21 million Bitcoin in existence? If not why would they not because Bitcoin is worth as much as it is now because people want to invest to sell for more in the future when do we expect Bitcoin to reach 21 million.

This will be in 2140. I am no prophet but I think until then we have better cryptocurrencies like Bitcoin. So the price could be near zero. On the other hand it is the first cryptocurrency, so there will always be people who want to have a few. I mean, it is like owning one of the first cars or cell phones.

But there is a possibilty, that Bitcoin is just one of maaaany new inventions and will never have its real break through. So if nobody will remember the coin 2140 or when it get broken, the price will be near zero. (but I think it will be never zero. But sub 1$ is possible).

[Ekaros]

Worthless? Probably not. Worth very little, as in.. 1BTC -> 50 McChickens or less? Yes.

I think it might end up even in cent range per coin.

The one group that will stay just occured to me. There is small hardcore group that will continue to use it even if the value plummets. Though there might be issue of available hashing capacity compared to value of currency, but someone is ready to pay that premium.

And from that group there is also part that moves to next improved coin. And the forks of used coin...


So not zero value, but near there...

I just imagine a lot of people will refuse to sell their $1000USD bitcoins for less than at $100 each. And the lower you go, say $25... is it even worth it? If you put a million dollars in at $1000, it would be 25,000 at $25. And of course, $1 = $1000. Would anyone even bother? It just seems unlikely for there to be enough selling pressure in the tens...

Then they just keep holding those coins... There will still be some available.  It's unlikely though that they will invest more for ever. Just think of what people have done on stock market before...

They are a group who want to use it as currency not as investment. Probably group of early adopters who are likely on plus side at that point...

[JimboToronto]

I have a question which I haven't found a good answer to will Bitcoin become worthless when there is 21 million Bitcoin in existence? If not why would they not because Bitcoin is worth as much as it is now because people want to invest to sell for more in the future when do we expect Bitcoin to reach 21 million.

Unless an unforeseeable event kills it completely, Bitcoin should continue to grow more or less exponentially until its adoption starts tapering off.

Adoption is still at the very early adopter stage. More and more ATMs are opening worldwide every day and in many places more and more businesses are starting to accept BTC. Once people realize how much faster and easier it is to pay for things with BTC than with credit or debit cards or even cash, more people will start using Bitcoin on a day-to-day basis.

Some people here tend to treat Bitcoin strictly as a speculative or investment vehicle, but its real future is in payments and transfers.

[thelema93]

Re: Will Bitcoin become worthless?

No.