Can bitcoin be worthless?

[catur_072]

Currency failure generally occurs due to the type of hyperinflation, and there is always the potential for technical failure, currency competition, political issues and so on. As the main basic rule, there is no currency that can be considered very safe from failure and difficult times. so is it possible that bitcoin can become worthless?

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[Muzika]

Currency failure generally occurs due to the type of hyperinflation, and there is always the potential for technical failure, currency competition, political issues and so on. As the main basic rule, there is no currency that can be considered very safe from failure and difficult times. so is it possible that bitcoin can become worthless?

I bring back the question to you, is it possible that bitcoin wont be used by an individual? As long as there are lots of people who will be use bitcoin and other crpyto product it wont be worthless.

[butka]

Everything is possible and nothing can be considered totally safe from failure (technical issues are always one of the possibilities), but it is highly unlikely that bitcoin will ever become worthless. Quite the opposite is more probable: that bitcoin will become a very valuable asset precisely because of its limited supply. This limited supply counteracts inflation and hyperinflation (in the long run).

That being said, it remains to be seen how the announced EFTs will work. They could represent a hidden source of bitcoin minting which could lead to some kind of inflation, something along the lines of how the FED system currently works (with debt and fractional reserves).

[Naida_BR]

Technically I don't think it can be worthless. Bitcoin is created and cannot be undone now as the network has been established.
Bitcoin can be worthless by the time governments would agree that bitcoin is an illegal asset and cannot be transferred between people then it will be immediately worthless. The cutoff between fiat and crypto world needs to be connected otherwise the news will be awful for crypto future.

[n0ne]

You could've come across lots of countries currency going onto inflation in a very small time period. This has happened due to economic collapse and upon various other factors associated with it. With bitcoin the entire market is completely unpredictable, and several predictions were put forth by users stating that it could go low. With the current market progress there isn't any possibility of going worthless. About the future nothing is assured.

[onrise]

It could happen only on the condition that no country accepts it and make it ban in their respective country. So this will discourage the people to use it and hardly anyone would be using which will make this coin worthless on a greater extent.

[creeps]

Currency failure generally occurs due to the type of hyperinflation, and there is always the potential for technical failure, currency competition, political issues and so on. As the main basic rule, there is no currency that can be considered very safe from failure and difficult times. so is it possible that bitcoin can become worthless?

Yes its possible, if all the countries will move as one and banned cryptocurrency so expect for bitcoin to be useless but since billionaires are already on this market, i believe they will still support cryptocurrency and they will not allow their money to be ruled by the government. We are here also to support cryptocurrency, bitcoin is considered as the king and it can’t be replace by any new coin for now.

[0t3p0t]

Currency failure generally occurs due to the type of hyperinflation, and there is always the potential for technical failure, currency competition, political issues and so on. As the main basic rule, there is no currency that can be considered very safe from failure and difficult times. so is it possible that bitcoin can become worthless?

For me, I don't think if Bitcoin can be worthless because of the fact that it only has limited supply and adoption is quite incresing. People are using Bitcoin as an investment and payment method so why it will become worthless? Volatility is the only problem of Bitcoin when in terms of payments as it is not stable like fiat money but still we can use it if we will. Bitcoin could possibly give us financial freedom unlike fiat that don't.

[rizkyhiw]

Currency failure generally occurs due to the type of hyperinflation, and there is always the potential for technical failure, currency competition, political issues and so on. As the main basic rule, there is no currency that can be considered very safe from failure and difficult times. so is it possible that bitcoin can become worthless?

Strongly agree that anything of value in the world will not always be safe because there are several interests of each country or whatever, it is inevitable when Bitcoin reaches its peak there are so many tests that they emphasize for the benefit of various groups, I position to be optimistic with all the analysis that I know, that Bitcoin will always be used even though the price is at the lowest point because this is an investment if logically the price will always spin there will be times when rising or falling even though it is not much different from other investments and fortunately, when Bitcoin penetrates into the global market, it's very cool to penetrate the digital market, don't get caught up in such fantastic thinking because for some people using any situation for personal or group interests, as bad as Bitcoin will always have value in the eyes of some people because it has exchangeable value at any time even though it's nominal to cil.

[Polar91]

Currency failure generally occurs due to the type of hyperinflation, and there is always the potential for technical failure, currency competition, political issues and so on. As the main basic rule, there is no currency that can be considered very safe from failure and difficult times. so is it possible that bitcoin can become worthless?

It can be. However, its holders in my opinion won't let that happen as we can see how Bitcoin influenced the economy. People will give value for something that is useful and beneficial for the comminity and society.

[joeperry]

Currency failure generally occurs due to the type of hyperinflation, and there is always the potential for technical failure, currency competition, political issues and so on. As the main basic rule, there is no currency that can be considered very safe from failure and difficult times.

True.

so is it possible that bitcoin can become worthless?

We can't deny the fact that there's a possibility that the bitcoin will become worthless especially if the coin was prohibited in every country but as of now there's a lot of country that still accept bitcoin (not actually accepted but let's say neutral) and maybe if a country banned it especially country with a large volume of user it will not totally be worthless but it may greatly affect its price.

The only thing that it may become worthless is when the time no people wants to buy it or accepts it.

[icecube45]

Everything can happen in bitcoin, the price of bitcoin can become worthless because of the huge fluctuations that can occur. Especially if in the future a lot of negative news that makes bitcoin get worse and people start to stop using bitcoin, it can happen and cause bitcoin to become worthless. But if you look at the development of bitcoin at this time I think that won't happen because bitcoin is currently developing very well, and even adoption continues to increase. So I think for the next few years bitcoin will continue to be a very valuable crypto.

[pekobites]

Bitcoin could only become useless if

A massive solar flare destroys most electronic devices and power grids

A global nuclear war destroys most human civilization

A new cryptocurrency solves the Trillema in a incredible way and is quantum resistant and also so easy to use it gets massive adoption

[Kevin77]

Currency failure generally occurs due to the type of hyperinflation, and there is always the potential for technical failure, currency competition, political issues and so on. As the main basic rule, there is no currency that can be considered very safe from failure and difficult times. so is it possible that bitcoin can become worthless?

Worthless is a very vague word if you think about it. If you mean worthless as in zero than I doubt bitcoin will ever be zero.
However, if you mean worthless as in Venezuela money or what was that African country with trillions of dollars just to buy a water type than I am sure it could be arranged.

10.000 bitcoins for a pizza could once again happen one day. Everyone thinks bitcoin is such a great currency and I agree with them but we are talking about history of humanity so yeah maybe in the next decade it will be great but 500 years from now ? Really ? You think 500 years from now bitcoin will still be a thing ?

I doubt every country having their own money will be gone, I think world will have just one currency by that point which would make bitcoin needless because it will be even further developed.

[gantez]

If all the government decides to declare bitcoin a forbidden coin to use and there making it a crime with high capital punishment for illicit users , and then maybe adopts another coin as legal.

[avikz]

Currency failure generally occurs due to the type of hyperinflation, and there is always the potential for technical failure, currency competition, political issues and so on. As the main basic rule, there is no currency that can be considered very safe from failure and difficult times. so is it possible that bitcoin can become worthless?

I bring back the question to you, is it possible that bitcoin wont be used by an individual? As long as there are lots of people who will be use bitcoin and other crpyto product it wont be worthless.

Yes, but that doesn't mean that bitcoin is immune from becoming worthless! What you are saying in the basics of economics. If there is demand, a value would be there. But if there is no demand, the chance is high that there will be no value! Now coming back to your question, I can say that it is very much possible that bitcoin won't be used by any individual due to many reasons. That may be technical, may be political or may be anything! Bitcoin is not immune from these earthly things and certainly it is not immune from becoming worthless. Even though the chance of happening it is pretty slim, but very much possible even if it's 0.001%!

[boyptc]

so is it possible that bitcoin can become worthless?

Yes but we are far from going up to that point.

There's a lot of use cases that's being applied to bitcoin already so you don't have to think of this.

[GreatOrchid]

We should always think and be aware that there is no permanent thing in this world we are living into except for change. With the current status of the Bitcoin in the world of crypto currency, we cannot just easily say what will happen to it. But as for me, as a proud Bitcoin crypto user, I have a high positive thinking that Bitcoin could not be worthless. Because as the times goes by, with the era we are in now, the innovation of the different aspects in life always passes the limitations of everything around us.

In terms of the current financial method of every individual, the crypto currency through Bitcoin well lead this into a much better and convenient way of transactions that have the high possibility to serve as the medium of payment methods in the future in contrary to made the Bitcoin to be worthless but rather be one of the most valuable medium.

[Jating]

Currency failure generally occurs due to the type of hyperinflation, and there is always the potential for technical failure, currency competition, political issues and so on. As the main basic rule, there is no currency that can be considered very safe from failure and difficult times. so is it possible that bitcoin can become worthless?

Very weird question. Bitcoin has succeeded its first 10 years, with bugs found in its early years and even some recent here: https://bitcointalk.org/index.php?topic=5034070.0, but we did succeed till now. We even have a lot of forks, if you can call that competition and then there are countries who is fully against it, but then again the ecosystem was not deterred.

Now, how can you call bitcoin worthless in the next 10 years or so when it is very resilience and can adopt to the competitions or what's not in the crypto sphere?

[okala]

Bitcoin can be worthless so long as there is an issue either political or economic problems and any currency can be worthless but it all depends on the usage as long as people still use it to carry out transactions then it worth will still be relevant no matter how small it worth can be but not down to zero.