Can bitcoin be worthless?

[Osarman]

My answer is a swift & painful drop to zero.

In a MarketWatch column, I wrote last May-June, I thought what it would take for bitcoin to become worthless. Bitcoin is getting close to that point. once Bitcoin’s price falls below its cost of mining, the incentive to mine will deteriorate, thrusting bitcoin into a death spiral. Because the ledger that maintains the records of who owns what — bitcoin is, after all, a set of encrypted numbers that cannot establish the ownership of anything — bitcoin will become worthless.

You are right. if the cost of producing bitcoin (mining) is higher then bitcoin price then it's obvious that the Bitcoin will become worthless if it continues like that. But the question is why people are selling bitcoin for less price then ? I mean the miners and traders are the ones who decide the price. then why don't they increase the price higher than the mining costs ?

2nd thing is there is always a solution, right now it seems bitcoin will become worthless but maybe developers figure it out somehow. with better and cheap mining equipment.

[1715437834]

1715437834

[1715437834]

1715437834

[1715437834]

1715437834

[Adhichan]

A lot of people have predicted doom for btc on several grounds but what do we see, it always proves them wrong. Btc has gained enough grounds to be worthless now. A lot more people are accepting the idea of btc and for me, it is highly impossible for btc to be worthless

Yes.. in the past a lot of people had predicted that Bitcoin would die out, or it would get replaced by some other coin. But it has shown remarkable amount of resistance. Even now a lot of people are doubtful about its long-term survival. But I am sure that it will remain alive at least for the next two decades.

and now this prediction totally wrong.bitcoin still alive till now and even lighting network reach bigger capacity.i am sure if lightning network already reach full capacity much people even that retail or institution will use bitcoin.

[jambul_kribo]

A lot of people have predicted doom for btc on several grounds but what do we see, it always proves them wrong. Btc has gained enough grounds to be worthless now. A lot more people are accepting the idea of btc and for me, it is highly impossible for btc to be worthless

Yes.. in the past a lot of people had predicted that Bitcoin would die out, or it would get replaced by some other coin. But it has shown remarkable amount of resistance. Even now a lot of people are doubtful about its long-term survival. But I am sure that it will remain alive at least for the next two decades.

and now this prediction totally wrong.bitcoin still alive till now and even lighting network reach bigger capacity.i am sure if lightning network already reach full capacity much people even that retail or institution will use bitcoin.

too many people act as if they are expert.they make prediction , meanwhile their knowledge not enough to make it.we have observe by our own if we want to understand what is bitcoin and blockchain.i am sure not every person in this market understand about it.so when they know it ,they never say bitcoin can be worthless.

[jcarlo]

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?

As long bitcoin traded in exchanger or peer to peer, i think bitcoin always have a value. Anything could happen in any investment including bitcoin. If internet all around the world shut down, bitcoin can not be used and i think its time for bitcoin become worthless but as long we trade bitcoin in market, i am believe bitcoin is good investment

[Rufsilf]

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?

As long bitcoin traded in exchanger or peer to peer, i think bitcoin always have a value. Anything could happen in any investment including bitcoin. If internet all around the world shut down, bitcoin can not be used and i think its time for bitcoin become worthless but as long we trade bitcoin in market, i am believe bitcoin is good investment

I may think that sooner we can used Bitcoin even without internet. We are looking into this since there are some areas aren't have that thing which is a huge hindrance for them to adopt crypto. If that will happen, there is no reason that could lead into Bitcoins dying scenario not unless if there new technology which is much better than of blockchain technology.

[Cherylstar86]

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?

As long bitcoin traded in exchanger or peer to peer, i think bitcoin always have a value. Anything could happen in any investment including bitcoin. If internet all around the world shut down, bitcoin can not be used and i think its time for bitcoin become worthless but as long we trade bitcoin in market, i am believe bitcoin is good investment

I may think that sooner we can used Bitcoin even without internet. We are looking into this since there are some areas aren't have that thing which is a huge hindrance for them to adopt crypto. If that will happen, there is no reason that could lead into Bitcoins dying scenario not unless if there new technology which is much better than of blockchain technology.

  Most country around the world adopt bitcoin and take it as an eligible asset that worthwhile to our patience we consumed from waiting. As long as we trade this asset, it's value is very expensive to be kept from long term. And the blockchain technology continue developing another promising project, so it is hard to forbid bitcoin that easily and became worthless, because most of us are determined to gain profits even if it takes a long period of time.

[Labumi]

Bitcoin can fail and lose value if all countries impose criminal threats against bitcoin users, so many users feel scared and leave it. The possibility will always be there, but I don't think bitcoin will fail because bitcoin has become the strongest coin, and also not all countries will ban bitcoin.

It is true that this bitcoin price can fall again when it fails but I think it is very difficult to happen because I see the bitcoin price movements always rise because of the influence of very high demand and very limited total supply, making the price of bitcoin expensive even though it often falls.

[MadaraAvenger]

You definetly went too far thinking that bitcoin can become worthless so no one will use it in order to reach that 0$ and you should not be afraid because this has almost 0 chances to happen so do not worry, we are all here protecting bitcoin and make it greater and greater every day

[Adriano2010]

As long as people will use it, it will no be worthless, it has a great technology and blockchain technology can be use on many domains, but bitcoin always will be bitcoin, so in my opinion bitcoin is like gold, limited supply and always will have value.

[LegendOF45]

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?

As long bitcoin traded in exchanger or peer to peer, i think bitcoin always have a value. Anything could happen in any investment including bitcoin. If internet all around the world shut down, bitcoin can not be used and i think its time for bitcoin become worthless but as long we trade bitcoin in market, i am believe bitcoin is good investment

Right, but we never know whether 2020 still wants to use bitcoin? there is no guarantee that bitcoin can continue to survive without guarantee or regulation from the country, this is what makes bitcoin die at any time.

[Sir Legend]

There was a good increase in price today, but that does not mean it will be tomorrow again. We should always remember that there is a great risk and continue considering this risk.

Decentralization is always risky, because there is no guarantee that prices can continue to rise, I am also always alert and always realistic by buying naturally and not draining all money to buy.

[kkaroul4]

of course, the problem is that if there are fewer and fewer people who are not using bitcoin, the faster the bitcoin loses its value because the bitcoin depends on the user

[bce]

of course, the problem is that if there are fewer and fewer people who are not using bitcoin, the faster the bitcoin loses its value because the bitcoin depends on the user

yes, chances are that if crypto is getting less and less interested in it, it's likely that the crypto will decrease in quality. so we must be patient with such conditions because such conditions do not necessarily happen to all of us. so you need to be patient in facing the market.

[BTCevo]

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?

As long bitcoin traded in exchanger or peer to peer, i think bitcoin always have a value. Anything could happen in any investment including bitcoin. If internet all around the world shut down, bitcoin can not be used and i think its time for bitcoin become worthless but as long we trade bitcoin in market, i am believe bitcoin is good investment

I do not think internet are going to down due to the developing country is keep on raising, it is like their needs to have internet so you can't compare bitcoin to the internet although bitcoin has some potential to outcome the internet. Anyway if there is a demands and supply then it will never be worthless. But I have been wondering of the supply on bitcoin is thinner, how will bitcoin worth at that time

[cryptjh]

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 don't think bitcoin will fail to a point where it will be worthless in our lifetime, even if people move away from bitcoin and the blockchain was attacked by endless 51% attacks, people would still trade bitcoins on some exchanges, we might it that unlikely scenario not be able to withdraw or deposit bitcoins, but the trade will go on, just like we now can trade hundreds of abandon coins, without any development team or use cases.

[KlepZ]

There is only a finite number of bitcoins issued by the bitcoin blockchain each cycle and this finite number is halved every four years(cycle). There is no other way for new bitcoins to be introduced within the network.

[Mastercon]

Bitcoin is worth it in all term. Even its banned on your country its still worth it. I think you're not aware about bitcoins advantages. How you can say it can be worthless ? where this Currency is giving us a lot of features with low fee ?

[Godday]

Bitcoin is worth it in all term. Even its banned on your country its still worth it. I think you're not aware about bitcoins advantages. How you can say it can be worthless ? where this Currency is giving us a lot of features with low fee ?

the longer it is sure that bitcoin will grow. although many countries that have not agreed to bitcoin circulated. but like that but I see that there are still so many people who are sure of the development of bitcoin that is happening.

[bummm]

It can be. Everything is possible in this world. Anyway, has anyone ever predicted the existence of cryptocurrency particularly bitcoin 30-20 years ago? If there was, did they ever predict it will be bitcoin and will it ever reach $20k? I doubt there was but it did happened and while others are saying it is impossible bitcoin can be worthless, it is. If people stop selling and buying it, stop trusting and using it then it will be the end of it, or maybe if there will a more better and superior cryptocurrency that will be made in the future just like Yahoo messenger, when other more advance and better messengers came out and beat Yahoo messenger, it did disappear.

Let us suppose that Bitcoin holder gets into the situation, where he cannot use the Internet and he knows that he will never have this possibility. In this case, BTC is useless. Thank God, it can hardly happen.

[needtor22]

It seems to me that it will be difficult too that bitcoin is also worthless, because now the development of bitcoin is also very good in the future, and also many investors use bitcoin as their main income, so I'm sure bitcoin will also remain bright