Can bitcoin be worthless?

[Bijikopi]

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.

bitcoin can be worthless if the request for bitcoin no longer exists, or if the internet connection around the world dies and maybe if the world goes on a nuclear war that causes all internal connections in the world to be destroyed. but all these possibilities are very small to be able to happen, so bitcoin will probably remain in a very long time.

[karloscimot]

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.

the ban on the use of bitcoin by some countries will not destroy bitcoin, because bitcoin is global and cannot be limited by some countries. so the biggest possibility that makes bitcoin worthless is the destruction of internet connections around the world.

[qwertyup23]

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 is possible but it must require some factors to consider before such event happens. For example, assuming that bitcoin has been banned from countries, new coin that emerged from the market, and investors/users not transacting with it, expect bitcoin to be obsolete. If people will not utilize and use the coin for transactions, then its value will slowly decrease to the point that investors will shift their attention to a new coin. From these factors, then it is possible that bitcoin can be worthless.

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.

the ban on the use of bitcoin by some countries will not destroy bitcoin, because bitcoin is global and cannot be limited by some countries. so the biggest possibility that makes bitcoin worthless is the destruction of internet connections around the world.

Remember that the prohibition of bitcoin to countries causes its price to significantly drop and potentially shift the attention of investors to a new coin. If the world views bitcoin as a contraband, then only a few number of people would transact with the coin. Sure, some people may use it but eventually its price would drop making it obsolete to the market.

[eann014]

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, it will never be worthless if all of us right now who are currently using cryptocurrency will still continue to use it until we want to, as long as there are still willing to invest with cryptocurrency it will never we worthless for sure.

[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?

For me, it will never be worthless if all of us right now who are currently using cryptocurrency will still continue to use it until we want to, as long as there are still willing to invest with cryptocurrency it will never we worthless for sure.

I don't see bitcoin going worthless, it has been in the market for years as it continues to deliver excellently despite controversies. Each passing day its demand continues to increase, strengthening its network and more development are expected to come. Bitcoin may have negative image for some, they may lack of awareness or have had bad experiences with it. There have also been fake news circulating around, and some other crisis, but it was able to survive, and continue to bring good standard of living specially for those who truly see its potential value. I'm hopeful that a number of people would continue to trust and be sincerely educated about this technology so that they will not be mislead by false information. It may have its ups downs but with strong support and unity it can certainly get back on track.

[Vaskiy]

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.

the ban on the use of bitcoin by some countries will not destroy bitcoin, because bitcoin is global and cannot be limited by some countries. so the biggest possibility that makes bitcoin worthless is the destruction of internet connections around the world.

Well said, slowly the ban over cryptocurrency usage on countries have been getting lifted little by little. Also, there isn't anymore possibility of destruction in the internet connectivity. As days pass there will be more advancement in the internet access as well which makes the cryptocurrency network grow in a tremendous manner than getting stopped by obstacles.

[rysea2]

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?

Of course that can happen,
When investor interest is there bitcoin starts to decrease then it will invite a lot of panic which results in a decline in the market because the beginner investors experience panic and are willing to sell with loss. And that's when interest in bitcoin will decrease until bitcoin really doesn't have valuable value.

[bitgolden]

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?

When it comes to traditional currency where there is centralized system being controlled, this philosophy might be applicable but it is not applicable to a system that is decentralized and digital, I don’t doubt the fact that there can be a technical failure, but that is why we also have other optional coins that can supplement that in case of eventuality.

Bitcoin as the most popular coin created for purpose of exchange can never become worthless because the system is still new and many companies will rather use bitcoin than other unstable coins.

[Bitcotalk]

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?

If we have worldwide calamities that can disable internet connections or even shut down all gadgets and electronic devices then thats the time bitcoin and other cryptocurrency will be worthless. Other than that, i cant think of any reasons.

Thank you very much mate, I would say the example you have given explains it best, there is definitely never going to be calamity that would affect the internet or other gadgets worldwide or if everyone could just decide never to use it again. This are the only conditions that can make BITCOIN worthless and it is totally impossible for all this to take place that means bitcoin can never be worthless but rather will continue to increase its worth

[boyptc]

Yes it's possible for bitcoin to become worthless, if someday the bitcoin price dropped to under $10, i'm sure people will stop using bitcoin anymore.

Are you sure about that? bitcoin still has value if it ever goes down to $10.

And you know what? people will not stop using it because the demand will rise and its going to be an opportunity for everyone to avail cheaper bitcoins.

That's why i said "IF" dude, of course i don't want the bitcoin price hit $10 per bitcoins but no one knows, anything can happen in crypto world. Even if bitcoin price hit $10, it will not happen on the next 1-5 years, maybe in 10-20 years. "IF"

You said if it drops $10, people will stop using it.

I've said that people won't stop using it because there's still a price that it can lean on unless it goes fully to zero.

[microbb8]

I do not think that bitcoin at the moment may become useless. Bitcoin has a lot of potential which is still at the development stage.

[arpon11]

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?

Like other currency bitcoin is not immune to system failure and in the past we have had many countries currencies become worthless because of bad decisions and government policies that pull the currency down.  I think if we all decided to focus on another financial system outside bitcoin it can become worthless like others coins in the past. Political institutions are not interested in bitcoin and if it system fall into their hands they can easily do something against it and makes it worthless.

[syamster]

I do not think that bitcoin at the moment may become useless. Bitcoin has a lot of potential which is still at the development stage.

It is surely not possible because bitcoin is making higher value day by day, it is right time to invest our money in because price is really good and affording, it is gaining more worth and importance with passage of time, so I think this is ridiculous to consider bitcoin worthless at the moment when it has huge potential and value for investors.

[morrisgonzalez]

No I don't think that bitcoin is worthless.
Bitcoin is a trusted currency, bitcoin also use some business purpose, trading, mining etc.
Bitcoin play a important role on economics.

[LUCKMCFLY]

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, it will never be worthless if all of us right now who are currently using cryptocurrency will still continue to use it until we want to, as long as there are still willing to invest with cryptocurrency it will never we worthless for sure.

well, so far, bitcoin is far from useless. we know that its development continues. besides, demand for bitcoin is still growing today. however, we believe the development of bitcoin will be even greater in the future.

Bitcoin has many enemies, in fact, the Forks are part of those big attacks, both governments and banks, do not like this deflationary economy, decentralized and that every day add more people, beacuse they find it to be a Great threat, because they can not control it.

It can not be useless, because it has a  market structure, and applies to many theories of successful speculators like Wyckoff, its greatest strength is that it is managed under the law of supply and demand, its weakness is that it has no support or liquidity, but it has very usable technology today to improve many processes.

I think that it can not be useless either because every day people join together, build their castles in the air, thus creating hope, others see it as a way out to give way to financial freedom, so I think it is far from being useless or fall into the final crash.

[Bunsomjelican]

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 see any reason to make bitcoin become worthless. Bitcoin so far was very important things in this business industry, because of bitcoin altcoins has been created as far as I know. Without it altcoin will be exist for sure. Meaning, Bitcoin was too important in this field of business as well.

[Robotbitcoin22]

Very capable, cryptocurrency again has no value and even has no more trust, therefore investment here also has considerable risk, so you really have to be careful in making these investments

[avarnet]

it could be if in my opinion because the more people no longer use bitcoin, the faster the price of bicoin will be destroyed and there is no value anymore, because the price of bitcoin depends on the user

[marcous]

Given that some countries have legalized bitcoin and cryptocurrency I think bitcoin can still be said to be worth. But we don't know how long the existence of bitcoin continues. because at one time it was gold that would certainly be valuable.

[usorin]

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?

Be real, just take a look at the charts and there is the answer, as simple as that.