Can Bitcoin Become Negative in Value?

[Wenbing]

<snip>
Regarding the negative value, oil went negative because it sold for less than it costs to mine it. Bitcon can easily go into that kind of negative.

But this comment go to the opinion of almost all the comment on this thread.
According to what commentators have said is that to store bitcoin one doesn't require payment for storage unlike oil storage which is the reason for the negative Price of oil.

So, can we further clarify your stance on this?

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For more than 10 years now nothing of that sort has happened and for the next 10 years, I do not foresee anything. I can only see the growth and adaptability of Bitcoin.

The major reason for this prediction and assumptions for negative Price is due to the fact that the bitcoin and crypto ideology is pivoting of the model of traditional currency from centralisation to decentralisation.
 
I'm not saying bitcoin will not grow against all odds but for the purpose of this discussion why do you think bitcoin price will keep rising and not decreasing to the negative of the curve?

[moderator's note: consecutive posts merged]

[goaldigger]

That’s the worst thing that can happen to bitcoin and we all know that any country can make such move to ban bitcoin, and create chaos to cryptoworld. If bitcoin becomes negative, then we are all stuck to the system of our government who always print money. Well, its good to have gold as well so when bitcoin dumps, you still have the gold.

[onrise]

That’s the worst thing that can happen to bitcoin and we all know that any country can make such move to ban bitcoin, and create chaos to cryptoworld. If bitcoin becomes negative, then we are all stuck to the system of our government who always print money. Well, its good to have gold as well so when bitcoin dumps, you still have the gold.

I do not think it can become negative because it means that somebody will pay you if you own btc rather than we paying it currently to buy bitcoin. Also one of the case I think just if needs to happen would be only if a country makes it legal currency of their country and when people do not want to have btc then just in case govt may give money to people to have it and use.

[ritu_bd]

I don't think there is any relation between Bitcoin and the price of oil, or there will be any effect on Bitcoin like the price of oil, because the price of something goes down when the demand for that commodity goes down a lot. I can't compare it to oil as the day is increasing. I think no matter what the restrictions are, people can't stop using Bitcoin, I live in a country where I get 2-4 years in jail if I find out I use Bitcoin, and I have to pay cash, but I Thousands of people in our country are using it without stopping, but it will be the same in all countries, which is what we are doing.

[FAHRKERIM]

I read from Blomberg that the price of crude oil has declined into a negative  of $-37.63/barrel.

Don't wanna be off-topic, but I just have to: don't read Bloomberg

[cutesgirl]

Will be for bitcoin become negative value if many countries stop for bitcoin become legal investment and not available for every one trade with exchange, look when bitcoin got problem with hacker make bitcoin price drop and always every years get big moment when exchange market hacked, how come if every months have exchange hacked.

[arwin100]

That’s the worst thing that can happen to bitcoin and we all know that any country can make such move to ban bitcoin, and create chaos to cryptoworld. If bitcoin becomes negative, then we are all stuck to the system of our government who always print money. Well, its good to have gold as well so when bitcoin dumps, you still have the gold.

I do not think it can become negative because it means that somebody will pay you if you own btc rather than we paying it currently to buy bitcoin. Also one of the case I think just if needs to happen would be only if a country makes it legal currency of their country and when people do not want to have btc then just in case govt may give money to people to have it and use.

That's close to impossible but still have probabilities since bitcoins still uncontrollable and it's on open market if people will not support this coin anymore for sure the dumping of price will happen but since bitcoins itself is well rooted in this industry for sure any single movements regarding on its negativity on value will be hard to achieve since one thing is for sure here many people will backed it up since this is the most well known cryptocurrency and much been adopted well compare to other alts.

[BitcoinsGreat]

I was shocked for reading a market breaking new as strange as this.

I paused and reflected again and again by applying this condition to other market assets.

I read from Blomberg that the price of crude oil has declined into a negative  of $-37.63/barrel.

What will happen to countries that depend solely on crude oil revenue?

What will happen to the investors in crude oil?

A very serious reflection is that fact that, is it possible for bitcoin value to also drop into the negative?

What if the following happen:
1. A ban in the demand for bitcoin and a ban in the use of bitcoin.
2. Backing off of bitcoin miners from the business of mining?

Could these causes bring the value of bitcoin to something similar to the historic oil Price drop of $-37.63?

What do you have to say about this?

Bitcoin is entirely different from oil. Bitcoin can never be zero or below. The only scenario where i can see bitcoin going to zero is people stop using bitcoins and there is no demand (maybe an issue is triggered in the blockchain). If that happens, bitcoin will be finished. Don't expect bitcoin to go to zero and bounce back from there. It will be dead forever if it goes to zero in value.

[UserU]

You can't just say it is impossible for bitcoin to be zero without providing reasons it cannot be zero as other have done in this thread else your comment is vague.

You'll eventually get used to these type of comments, my friend. They're almost everywhere because quota.

[BITCOIN4X]

Bitcoin is entirely different from oil. Bitcoin can never be zero or below. The only scenario where i can see bitcoin going to zero is people stop using bitcoins and there is no demand (maybe an issue is triggered in the blockchain). If that happens, bitcoin will be finished. Don't expect bitcoin to go to zero and bounce back from there. It will be dead forever if it goes to zero in value.

Do you remember about bitcoin innovation?

Bitcoin offers many benefits for all users and bitcoin is not solely abount trading and in my opinion there are some things that make the price of bitcoin will not be zero, is:
Global accessibility, Every bitcoin user will benefit from it, especially related to global accessibility. We can accept and send bitcoin anywhere and anytime with just one click.
Cost efficiency, We do not need to think about transaction costs that are too much even though transactions are carried out between countries.

In my opinion all innovations from bitcoin strongly support that prices will not be zero. Adobsi which continues to increase will allow it to continue to exist and continue to be used primarily by the bitcoin community itself.

[Jet Cash]

Wow this is a  long thread. Has anyone mentioned that it was the West Texas Intermediate May contract that resulted in the negative value, and not the price of oil in general. Brent crude was still trading in double figures per barrel.It was simply the result of the unwary speculators being faced with having to accept physical delivery without any storage capacity. Bitcoin is stored ( recorded) on the blockchain, so there is no equivalent situation.

[Chris Barth]

Great comment.
But, look at the conditions I highlighted. What if those conditions were to be true, then what'll happen?

If there is no demand for bitcoin, then the inelastic will be forced to become elastic automatically.

And what makes you imagine a situation where there is "no demand". I can't see bitcoin having no demand. If people believed in bitcoin when it had little demand in the years back, how then can bitcoin demand turn to zero.

[ChiBitCTy]

Oil never turned to a negative price... Oil FUTURES contracts turned to a negative price. There is a big difference between the two.  Can bitcoin ever go to negative in value? Absolutely, why not? Bitcoin is far from having "made it".  As Andreas Antonopolous so often compares the life of cryptocurrency to.. we are just in the beginning stages just like the Internet.  "The internet of Money".  How many companies that were around and dominating internet wise back then, around today?  It's not a perfect comparison, but the point should be clear...things changes, and those first out, rarely maintain for long periods of time.  Bitcoin could be replaced by a bigger better crytpo coin, driving it's value to zero one day.  Anytime soon though I don't see it.  There are too many activities (illicit or not) that bitcoin has helped that I don't see if falling to zero anytime soon..but the possibility remains.

[Oilacris]

Great comment.
But, look at the conditions I highlighted. What if those conditions were to be true, then what'll happen?

If there is no demand for bitcoin, then the inelastic will be forced to become elastic automatically.

And what makes you imagine a situation where there is "no demand". I can't see bitcoin having no demand. If people believed in bitcoin when it had little demand in the years back, how then can bitcoin demand turn to zero.

You cant tell and yes, it might really be nearly impossible for that thing to happen but there would always be a possibility.
We wont know if there would be another crypto which would be more better than btc but that kind of possibility is nearly on zero.
Its really hard to believe that bitcoin would go negative in value but we should expect that there's always a chance but basing on its current
demand then its no surprise that people would have the same input.

[LogitechMouse]

I don't see any reasons or any scenarios that will make Bitcoin negative in value.

One thing more, don't compare what happened to crude oil to Bitcoin because they are 2 different assets. Its not the Oil's price itself that went negative but its the futures that went negative. The news media didn't state it again and left the readers misinformed.

It happened to Crude so there is still a chance that Bitcoin will go not to negative but to zero maybe but the chances of it is like in lottery or even lower. Almost impossible for it to happen.

[Sadlife]

Bitcoin will never go to negative because it has demand that's not printable supply like paper money making inflation not possible and a revolutionary technology backing it up and it is not like the centralized monetary system that it has a single source of authority thus making it extremely difficult for banks or governments to shut it down.

[Peanutswar]

From the previous weeks, we are seeing the market price of the bitcoin rapidly falling down, but this is not the same like the other market price of the coins bitcoin does not have the capability to make more downward of the market price because most of the people today are using this kind of coins to make more sending funds and payment transactions so there is no chance that it will reach the negative value also we have the miners which are continuously making an producing more coins to the community. In the other hand, the bitcoin will never get a negative market value.

[Salamstar]

I was shocked for reading a market breaking new as strange as this.


Could these causes bring the value of bitcoin to something similar to the historic oil Price drop of $-37.63?

What do you have to say about this?

First, crude oil sold only a portion of the futures contract that expired at zero, but the base price for effective futures did not fall. As for bitcoin , despite all these harsh conditions in light of the current crisis, it fights and continues to succeed, which proves that it cannot end so easily.

[Sebas.tian]

Only in bitcoin discussion can we attempt comparing apples and generators?

Lol buddy, don't insult bitcoin. In your above sentence, bitcoin better be the apple while Oil is the generator.
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You just broke someone ribs @BrainBoss, am old and was advise by my Dr. to be more careful with joke that could possibly rib out my life  , sincerely speaking the oil negativity wasn't forecasted by some random soothsayers who are all the time at war with Bitcoin. Hope they learn that Bitcoin and cryptocurrency still make a good investment platform. In my opinion, from now to 2140 I can't see a negative value from this trending technology that some of us have seen as a save investment package.

[pixie85]

the price for oil is temporarily negative, it will go up soon. the price for bitcoin will never go down to negative price

It had done it more than once in the past and can do it again. It's not like Bitcoin is immune to negative drops.

It was on the negative when it was trading for 300 dollars in 2015 and it did the same thing twice in this recent bear market. One time when it went to 3000 dollars in 2018 and briefly this year.

Negative doesn't mean below 1 dollar. It means below the price of mining.