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Author Topic: What happens next if Bitcoin drops to zero?  (Read 2099 times)
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June 04, 2023, 01:21:57 PM
 #181

The point is not that bitcoin will or will not fall to zero, but that the blockchain will continue to work well anyway. Although zero is impossible because the measure of value will still be there, bitcoin can still be used to buy or sell goods. If the dollar becomes weak, bitcoin will be measured in another currency.
In terms of value or price, Bitcoin can actually be measured by any fiat currency as long as the currency also has value so this clearly doesn't depend on the dollar currency. This is what makes Bitcoin not easily become zero again as long as most people can still measure its price and value with any currency, because it is always based on the level of interest that exists for Bitcoin which also causes the blockchain to continue to work when there is a transaction

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June 04, 2023, 01:30:12 PM
 #182

1. Will Bitcoin ever fall to zero someday?
Give a proper argument why bitcoin will fall to zero? until now I don't see one strong reason why bitcoin will be at zero, regardless of how the government tries to spread negative things about bitcoin and what I understand from your post, it has to do with government policies that will prohibit the growth of bitcoin globally and is this the only stronger reason to say bitcoin is going back to zero?

But realistically that also doesn't happen and many governments actually allow legal bitcoin as a commodity asset that can be traded and even El Salvador has legalized bitcoin as a legal transaction tool. Therefore the chance for bitcoin to be zero is completely impossible because of the strong assumption that the government also does not do that. There are several countries that have banned bitcoin completely, both as a commodity asset and as a legal means of transaction, but so far this has not affected bitcoin in any way.

2. What happens if it ever falls to zero?
When zero assumptions are impossible then what will happen we will never know, even people's belief in bitcoin will return to zero is not the same as altcoins and shitcoins which on their journey are pumped, dumped and die.
The point is not that bitcoin will or will not fall to zero, but that the blockchain will continue to work well anyway. Although zero is impossible because the measure of value will still be there, bitcoin can still be used to buy or sell goods. If the dollar becomes weak, bitcoin will be measured in another currency.

the value of bitcoin or any other asset in the world depends on human needs, as long as we use and need bitcoin, it will never drop to zero.  but the possibility of it falling to zero is still there because if there is a technology that beats bitcoin or outperforms bitcoin, we will quickly forget about it and run after newer ones. The value of bitcoin will depend on us.

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June 04, 2023, 01:32:49 PM
 #183

1. Will Bitcoin ever fall to zero someday?
Give a proper argument why bitcoin will fall to zero?
Currency failure, have you ever thought of something like that?
Even though I believe the probability of bitcoin's failure as a currency is much lower than I imagined, it should be considered as one of the possible risks that could happen to bitcoin for one reason or another. I don't want bitcoin to fail, but no one can guarantee that bitcoin will survive tens to hundreds of years from now.

To be honest, I never thinks bitcoin would be zero even though bitcoin didn't have any value when Satoshi introduced it. But even then, we just don't need to be so optimistic about bitcoin that you ignore lot of what it is at risk of. Bitcoin is currency that basically still expects more support from the governments of various countries especially in real use cases. If the government agrees to no longer allow bitcoin to be traded, used as legal tender, then the worst risk is losing value.

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June 05, 2023, 07:25:48 AM
 #184

1. Will Bitcoin ever fall to zero someday?
Give a proper argument why bitcoin will fall to zero?
To be honest, I never thinks bitcoin would be zero even though bitcoin didn't have any value when Satoshi introduced it. But even then, we just don't need to be so optimistic about bitcoin that you ignore lot of what it is at risk of. Bitcoin is currency that basically still expects more support from the governments of various countries especially in real use cases. If the government agrees to no longer allow bitcoin to be traded, used as legal tender, then the worst risk is losing value.
I also can't guarantee that bitcoin will last for hundreds of years because no one can predict it for sure, but talking about the possibility that bitcoin could reach zero is completely baseless and even if in the worst case scenario all governments ban it. Talk about zero it means bitcoin is no longer valuable and I think it's almost impossible for that to happen and I also doubt any government within the quotes "globally" would use bitcoin as legal tender because bitcoin would basically never fit into the system they.

I don't see anything worrying about bitcoin and even to think of going to zero, there are many reasons why bitcoin can defend itself from being at zero. So forget about that and let's take a look at the opportunities that are available because trying to make assumptions like this would lead to a lot of speculation that we can't prove to be true.

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June 06, 2023, 01:49:25 PM
 #185

If the price goes to zero of course there will be panic, I believe if this year the price is $ 1000 then 2024 will be zero and it won't take long, panic will occur and many exchanges will close when the price is $ 1000, and of course altcoins will also end and we must be prepared if this condition occurs.

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June 06, 2023, 02:06:17 PM
 #186

In terms of value or price, Bitcoin can actually be measured by any fiat currency as long as the currency also has value so this clearly doesn't depend on the dollar currency. This is what makes Bitcoin not easily become zero again as long as most people can still measure its price and value with any currency, because it is always based on the level of interest that exists for Bitcoin which also causes the blockchain to continue to work when there is a transaction
Even now Bitcoin is measured in other currency. I mean, everybody knows what Bitcoin is what in their various local currency. Dollar is only used because it's the global recognized currency. There's no bond with dollar and Bitcoin, that will make Bitcoin worthless if dollar becomes worthless.

If the price goes to zero of course there will be panic, I believe if this year the price is $ 1000 then 2024 will be zero and it won't take long, panic will occur and many exchanges will close when the price is $ 1000, and of course altcoins will also end and we must be prepared if this condition occurs.

This is exactly how it will be. Without Bitcoin, there will be no crypto. Even if some alt coins still remain, they will lose a lot of trust and people won't want to go near them.
People will be like, if Bitcoin that is the most trusted and biggest coin that crash how much more alt coins.
It's not going to happen though, all these are hypothetical.

R


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June 06, 2023, 04:56:14 PM
 #187

Currency failure, have you ever thought of something like that?
Even though I believe the probability of bitcoin's failure as a currency is much lower than I imagined, it should be considered as one of the possible risks that could happen to bitcoin for one reason or another. I don't want bitcoin to fail, but no one can guarantee that bitcoin will survive tens to hundreds of years from now.

To be honest, I never thinks bitcoin would be zero even though bitcoin didn't have any value when Satoshi introduced it. But even then, we just don't need to be so optimistic about bitcoin that you ignore lot of what it is at risk of. Bitcoin is currency that basically still expects more support from the governments of various countries especially in real use cases. If the government agrees to no longer allow bitcoin to be traded, used as legal tender, then the worst risk is losing value.

There's so much money invested in Bitcoin, that's hard to believe it'll go to zero anytime soon. Not even a worldwide ban would make BTC worthless. Of course, value would fall. But not to a point where BTC it's worth nothing in Fiat terms. Haters want Bitcoin to die because it goes against what was established in the first place. I think it's too late for them given how successful Bitcoin has been over the years.

If BTC goes to zero, then Gold would have to go to zero too. And we all know that's impossible. There's a long road ahead before all BTC are mined, so lets just sit back and enjoy it while it lasts. Maybe it will get live alongside Fiat currencies in the future? Just my thoughts Grin

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June 06, 2023, 07:31:46 PM
 #188

If the price goes to zero of course there will be panic, I believe if this year the price is $ 1000 then 2024 will be zero and it won't take long, panic will occur and many exchanges will close when the price is $ 1000, and of course altcoins will also end and we must be prepared if this condition occurs.
If the price goes to zero there will be great panic in the cryptocurrency industry. It all depends on the method that will lead the price to zero. The only time that the price will get to zero is if the network is compromised. If there is 51% attack and there is a chance that the price of bitcoin is brought to zero, there will be a big panic and problem.

But if it follows the pattern you insinuated, such that this year it will first get to $1000 and next year it will go to zero. If it follows this method, I bet you that the price will never see zero. As an ordinary investor, if I see the price at $1000, I will try my best to atleast own like 10BTC. And this is what other ordinary investors will do let alone whales. So, if the price of bitcoin gets that low, the only disadvantage is that it will be highly volatile and manipulative but it will never get to zero.

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June 06, 2023, 07:46:55 PM
 #189

If the price goes to zero of course there will be panic, I believe if this year the price is $ 1000 then 2024 will be zero and it won't take long, panic will occur and many exchanges will close when the price is $ 1000, and of course altcoins will also end and we must be prepared if this condition occurs.
If the price goes to zero there will be great panic in the cryptocurrency industry. It all depends on the method that will lead the price to zero. The only time that the price will get to zero is if the network is compromised. If there is 51% attack and there is a chance that the price of bitcoin is brought to zero, there will be a big panic and problem.

But if it follows the pattern you insinuated, such that this year it will first get to $1000 and next year it will go to zero. If it follows this method, I bet you that the price will never see zero. As an ordinary investor, if I see the price at $1000, I will try my best to atleast own like 10BTC. And this is what other ordinary investors will do let alone whales. So, if the price of bitcoin gets that low, the only disadvantage is that it will be highly volatile and manipulative but it will never get to zero.
Even Bitcoins price would crash back to $10k, then for sure lots of people would really be panicking out and would really be having that impressions that this might be over for Bitcoin but for those people who do still
 see this as having the potential then they would be catching out those price into that particular bottom on which there might be some pullback.This is why it would really be entirely depending on the community itself
if ever the price wont really be that stopping in going down. We've having lots of discussions about presumptions about getting to zero topics on the time that the market would really be having that serious percentage decrease. Assumptions would really be leading into doubts and hesitance if you arent really that good when it comes to self control and would be easily altered out just because you've seen the price
is heading down.

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June 06, 2023, 08:09:57 PM
 #190

If the price goes to zero of course there will be panic, I believe if this year the price is $ 1000 then 2024 will be zero and it won't take long, panic will occur and many exchanges will close when the price is $ 1000, and of course altcoins will also end and we must be prepared if this condition occurs.
X
<×>... Assumptions would really be leading into doubts and hesitance if you arent really that good when it comes to self control and would be easily altered out just because you've seen the price
is heading down.
Well, I made most of the above statements with the mindset of a core bitcoiner. I really understand the power of FUD. Bearly when bitcoin was at $15k, the panic was heavy which made many people miss the greatest discount in the recent time.
If bitcoin will be greeted with such uncertainty and fear while at $15k price range, it therefore means that at $1k price range it will be so disastrous.
Yet, I strongly believe that real opportunists will not let bitcoin get to that price range let alone to zero.
From my end, if bitcoin mistakenly touches 15k again, I will really have a crazy buy and likely some other persons, such force won't allow it go to $10k.

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June 08, 2023, 08:55:35 AM
 #191

1. Will Bitcoin ever fall to zero someday?
2. What happens if it ever falls to zero?
When talking about the future or the future which is something that is still unknown, but can only be predicted. In my opinion, the price of bitcoin will not touch zero, because the most important thing is that the internet network still exists and bitcoin still has good quality in the eyes of people, especially crypto investors. That way I'm sure bitcoin will still be as valuable as it is now, maybe even more valuable. Because now bitcoin is increasingly famous in the world, so if all the aspects I mentioned above are still there and there are no obstacles. Certainly bitcoin in the future will be more popular than the present. Because we are moving forward, not backward. So just keep thinking positively about the state of bitcoin in the future, because what we have to think about first is the present first.

And suppose bitcoin falls to zero, maybe as I wrote above, the internet doesn't exist anymore, or bitcoin has a problem, which in turn destroys the name bitcoin.

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June 08, 2023, 01:47:36 PM
 #192

1. Will Bitcoin ever fall to zero someday?
2. What happens if it ever falls to zero?
When talking about the future or the future which is something that is still unknown, but can only be predicted. In my opinion, the price of bitcoin will not touch zero, because the most important thing is that the internet network still exists and bitcoin still has good quality in the eyes of people, especially crypto investors. That way I'm sure bitcoin will still be as valuable as it is now, maybe even more valuable. Because now bitcoin is increasingly famous in the world, so if all the aspects I mentioned above are still there and there are no obstacles. Certainly bitcoin in the future will be more popular than the present. Because we are moving forward, not backward. So just keep thinking positively about the state of bitcoin in the future, because what we have to think about first is the present first.

And suppose bitcoin falls to zero, maybe as I wrote above, the internet doesn't exist anymore, or bitcoin has a problem, which in turn destroys the name bitcoin.

The existence of bitcoin has nothing to do with the internet, I mean, if bitcoin dies, the internet will not be affected, but if the internet disappears, bitcoin will also disappear. The existence and value of bitcoin is entirely up to us, not anyone else. If our demand for bitcoin is high, then the value of bitcoin will increase, but if we don't need it anymore, of course, it will be zero. If there is a newer and better technology than bitcoin, I believe people will leave bitcoin and look for something better, that's human instinct.

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June 08, 2023, 03:23:35 PM
 #193

I think the price of bitcoin will drop from $1000 to zero in a few days, when the price continues to decline and significantly there will be a storm that is difficult to avoid, selling will be carried out by everyone so that many exchanges will have no money to send money to consumers and of course that is the end of cryptocurrencies.
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June 08, 2023, 04:39:48 PM
Merited by The Sceptical Chymist (3), skarais (2)
 #194

The existence of bitcoin has nothing to do with the internet, I mean, if bitcoin dies, the internet will not be affected, but if the internet disappears, bitcoin will also disappear. The existence and value of bitcoin is entirely up to us, not anyone else.
Bitcoin transactions without internet are possible, even if your country's government turns off the internet across the country for a few days. There are several ways to make bitcoin transactions without relying on the internet, and you should pay attention to some of the solutions here:

- https://blockstream.com/satellite/

The point is bitcoin would not be 0 if the internet did not exist. Some developers will find ways how to do this including doing it by radio network or SMS. So of course the internet is needed for smooth bitcoin transactions, but bitcoin transactions can still be broadcast without internet.

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June 08, 2023, 10:55:29 PM
Last edit: July 14, 2023, 08:14:18 PM by BitcoinBabbler
 #195

The existence of bitcoin has nothing to do with the internet, I mean, if bitcoin dies, the internet will not be affected, but if the internet disappears, bitcoin will also disappear. The existence and value of bitcoin is entirely up to us, not anyone else.
Bitcoin transactions without internet are possible, even if your country's government turns off the internet across the country for a few days. There are several ways to make bitcoin transactions without relying on the internet, and you should pay attention to some of the solutions here:

- https://blockstream.com/satellite/

The point is bitcoin would not be 0 if the internet did not exist. Some developers will find ways how to do this including doing it by radio network or SMS. So of course the internet is needed for smooth bitcoin transactions, but bitcoin transactions can still be broadcast without internet.
We are talking about the future and the future are but if the internet disappears, bitcoin will also disappear. The existence and value of bitcoin is entirely up to us, not anyone else. If our demand for bitcoin is high and especially crypto investors. That way I'm sure bitcoin will still be as valuable as it is now, maybe even more valuable. Because now bitcoin is increasingly famous in the world and the The only time that the price will get to zero is if the network is compromised. If there is 51% attack and there is a chance that the price of bitcoin is brought to zero, there will be a big panic and problem and the so if all the aspects I mentioned above are still there and there are no obstacles.
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June 09, 2023, 06:22:50 AM
 #196

The thing we have to believe is that the change in technology in any field will definitely happen, blockchain technology is currently trending and being the best, but I'm sure someday there will be a system that can replace the blockchain and will certainly make Bitcoin destruction, before that happens then we must actively follow the latest developments.


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posi
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June 09, 2023, 02:15:55 PM
 #197

The existence of bitcoin has nothing to do with the internet, I mean, if bitcoin dies, the internet will not be affected, but if the internet disappears, bitcoin will also disappear. The existence and value of bitcoin is entirely up to us, not anyone else.
Bitcoin transactions without internet are possible, even if your country's government turns off the internet across the country for a few days. There are several ways to make bitcoin transactions without relying on the internet, and you should pay attention to some of the solutions here:

- https://blockstream.com/satellite/

The point is bitcoin would not be 0 if the internet did not exist. Some developers will find ways how to do this including doing it by radio network or SMS. So of course the internet is needed for smooth bitcoin transactions, but bitcoin transactions can still be broadcast without internet.

This is totally new to me, I will learn more about it when I have free time. But the project will succeed, and is bitcoin without the internet true? Because bitcoin was built and completely dependent on the internet from the beginning. And how will your phone or computer work without an internet connection? I have also heard of some methods of sending and receiving bitcoins by SMS, but all will be complete only with a network connection and confirmation on the network. So sending bitcoins by SMS is pointless if the transaction is not connected to the network afterward.

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AakZaki
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June 09, 2023, 03:17:28 PM
 #198

I think the price of bitcoin will drop from $1000 to zero in a few days, when the price continues to decline and significantly there will be a storm that is difficult to avoid, selling will be carried out by everyone so that many exchanges will have no money to send money to consumers and of course that is the end of cryptocurrencies.
That is an unreasonable prediction and will not occur. I never thought about Bitcoin being 0, Bitcoin will still survive in all conditions, even Bitcoin is more durable than other assets. Just look at the development of Bitcoin over 10 years, this is an extraordinary development. The price drop is inevitable because the crypto market is very volatile and the price increase is also inevitable. Bitcoin will try to reach a new ATH.

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June 10, 2023, 04:00:30 AM
 #199

If the price of drop to zero, of course, cryptocurrencies will end, before reaching zero, of course there will be many exchanges that close the service because they also do not have money to pay for consumers, what happens is of course a big panic when many exchanges that close and memories about bitcoin will continue to be discussed a lot people and become top trending.
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June 10, 2023, 01:24:33 PM
 #200

If the price of drop to zero, of course, cryptocurrencies will end, before reaching zero, of course there will be many exchanges that close the service because they also do not have money to pay for consumers, what happens is of course a big panic when many exchanges that close and memories about bitcoin will continue to be discussed a lot people and become top trending.
Bitcoin will never go to zero, because currently the adoption by countries, companies and several important figures is very massive,
the demand and market cap are also high, so I myself see that technically it is impossible to happen.
but if this world disconnects the internet then yes Bitcoin will go back to zero haha LoL Grin.

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