Is Bitcoin Going To Zero?

[deisik]

Here's a hilarious article from Forbes with same tittle: Is Bitcoin Going To Zero? What makes it particularly hilarious is the author's striking inability to understand that to make a consistent and coherent argument he has to tie up loose ends in his logic and reasoning, to make his narrative smooth and even, not contradictory and conflicting

At first, he claims that Bitcoin is effectively dead as it has no value because it "doesn't produce any products or services". And then, all of a sudden, he proceeds to assert that Bitcoin's characteristics such as "a store of value that easily crosses borders around the globe" and "the comfort of anonymity it can provide" have only persisted because governments have largely allowed cryptocurrencies to exist

So am I the only one who feels like the author makes mutually exclusive claims in this piece of shit? If Bitcoin is in fact as dead as a doornail, it can't possibly possess and enjoy all these benefits and advantages he mentions, and therefore no government intervention is actually required to get away with it. But if, nevertheless, the government intervention is still required to get done with Bitcoin, it doesn't look like being dead at all, right?

In short, haters gonna hate. Bitcoin is money but money itself doesn't produce any products or services on its own. Does that take anything from its value as long as it is not fiat hyperinflated (when it basically stops being money)? Essentially, as money Bitcoin produces transactional utility upon which things like a store of value or "comfort of anonymity" are built. Thus, this argument doesn't hold even when taken separately, on its own "merits"

[PointHope]

The Euro and USD are going to zero!

Paris is literally burning and the NYSE is exploding.

[waitforme]

I do not believe that Bitcoin is back to zero. Because the current black market is using Bitcoin as the primary currency for transactions. Do you think that these illegal transactions use Bitcoin as a currency? Everything will never end if it is still selected.

[DavidTep1987]

What is with the apocalyptic BOT? Paris is not burning and USD will never be zero. Is this something that you do for fun? Writing posts like "World's about to end! Save yourselves!"

There is a great tour on the illegal network and the possibility that block chain brought to money laundry. Maybe this will keep BTC alive?

[grishinalex13]

I think that you are likely to come zero currency denominations and then only cryptocurrency. Because more and more people in the world are switching to credit cards. But still in what I agree with the author of this record, because Bitcoin is much cheaper.

[Peacemaker1994]

Every publishing house are always looking for stories that would catch a major interest and what other story would catch the interest of people than bitcoin

Any time I see such criticism I  am glad I joined cryptocurrency because it only goes to show how it is getting global recognition and interest.

News are like the market the have the good news and the bad news and they are very much directly proportional to the situations of the market for example when things are good they praise and when it's bad the come up to your face saying I told you so.

Never let them get into your head it might just be a FUD creating mechanism

[ynatopak14]

Bitcoin will never become zero as people will never let that happen.
If Bitcoin goes 3000 or down, there will be huge demand and buying in the market.
Many people are just waiting for the deepest market to join the crypto.

[KingScorpio]

The Euro and USD are going to zero!

Paris is literally burning and the NYSE is exploding.

not exactly,

the people will realize living in communist societies (EU, USA)

the money will become just "thank yous"

in the soviet union the money also was worth something, it was even more stable than the us dollar. but that doesnt mean the communist currency in hedonistic america will be valuable.

[dodgrad]

The Euro and USD are going to zero!

Paris is literally burning and the NYSE is exploding.

Gold also falls to zero. 

Conflicts have always hurt financial markets, it's nothing new.

If the predictions of economists are confirmed, the coming financial crisis in the world will be an amazing spring for cryptocurrencies. Articles like this, confirm that the financiers are afraid that little investors will understand it too soon and will start fill crypto wallets before them..

[1Referee]

The Euro and USD are going to zero!

Paris is literally burning and the NYSE is exploding.

There is much more needed than riots and a stock market correction to get fiat to become worthless. Everything is priced against the USD, so I sincerely hope that we're going to see that currency survive for as long as possible, at least till Bitcoin becomes more mature, is mass ready, and earns the safe haven asset status that Gold currently enjoys.

---

Coming back to the Bitcoin doesn't produce anything part of the article, that is simply not true. If you look back, dividends in form of fork coins have generously rewarded Bitcoin holders, plus we have LN coming up where you can provide liquidity to the network in return for small fees. Especially the latter will stimulate people to lock up their coins in channel funding rather than speculate with it on the market. Massive plus.

[FedorIzmailov]

do not invent. With Bitcoin, everything will be fine in the future and I am sure that it will cost $ 20k.

[peacefulpeace]

the author's reasoning basically has no solid backings, this is a very rational reasoning, like i do tell my colleagues and relatives, bitcoin is here and here to stay and nothing can stop or erase it from existence. I see this outcome of the bitcoin cash hardfork as an opportunity to store up more crypto currencies in your wallets.

[btcluisdiki]

I think I had to disagree about BTC going to zero value as this will not happen and just because crypto market was having a huge market dip, btc will fall with no value. I believe that btc will rise again and people should not lose their hope with their btc investment as up trend market will soon be felt. Eventually, people may notice the market improvement next year gradually, so let's continue to support btc for it will make the market up again.

[Vongola]

The Euro and USD are going to zero!

Lol. It's not gonna happen (if you are serious with your post)

Bitcoin is money but money itself doesn't produce any products or services on its own.

Agreed with this. The author might be think bitcoin is a machine or something which can produce thing. It's future money

[KrishaBitcoin]

Although Bitcoin price has already lose 80% from its former last year ATH price and declining but still i won't believed it will going to zero or in other words a bubble because Bitcoin is already used in most of the countries as alternative currency for direct spending therefore it is impossible for it to become no value at all but maybe it become more cheaper in the coming months but still the balance will prevail as it will become an opportunity by the others to buy it cheap for an investments.

[paparexon0414]

Maybe the market is going down at this moment but it never says that everything is going to zero. If we just look back at the history of bitcoin, its decreasing its value but no data as its zero value. The decrease of value of bitcoin in the market is due to many factors that somehow have effect on it. Or maybe sone manipulation is taking place (this is just my speculation, not saying the 100% authenticity). Im not a pro in trading or in economics but due to the econonic crisis in some big and progressive country, somehow also affect the current situation of bitcoin and other cryptos.

[felicita]

lol Bitcoin raised now from 400$ to around 3000$
this is much for me i got my first bitcoins for around 400$
And if someone buyed in when there was a huge prize around 20 000$ its his own fault.


regards

[memecoin]

I do not believe that Bitcoin is back to zero. Because the current black market is using Bitcoin as the primary currency for transactions. Do you think that these illegal transactions use Bitcoin as a currency? Everything will never end if it is still selected.

I am absolutely right, and I think not only used on the black market but also some accepted countries such as Korea, Japan ... are some of the examples of how bitcoin is a currency. Use it, it will return and the price will rise again .

[Cryptopher]

I very much doubt that it would go to zero, or anything near that.

Bitcoin has been through a load of setbacks over the years, but it has always bounced back.

[joevplan]

Money is the means of trade not producing goods... As stated in the article and what shows the level of that publisher...