Can Bitcoin Drop to Zero?

[davis196]

Former deputy governor, BOE believes Bitcoin can drop to zero. I wonder what his opinion is at the moment.

"Their price can vary quite considerably and they could theoretically or practically drop to zero." Jon Cunliffe saiid.

And what's the different between theoritical and practical drop to zero for BTC?

Can the price theoritically drop to zero but practically trade above $40k. Kinda confusing.

This Jon Cunliffe guy is talking about theoretical and practical 0 USD Bitcoin price, but he doesn't explain HOW this will happen?
What force could bring the demand for Bitcoins down to zero? Is it going to be a mass government ban or World War III?
This seems like another mindless FUD about "Bitcoin having no intrinsic value, so the BTC price could possibly drop down to zero".
Theory is theory and some theories cannot happen in reality. The BTC price could "theoretically drop to zero" in some weird financial theoretical model, not in reality.
 

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[huu78]

Everything could happen, even Apple shares could drop to 0, if no one uses the product.
the same thing with bitcoin, I see that there are more and more users so the possibility of bitcoin dropping to 0 is getting smaller.

[Lida93]

We are all taking risk it will be right you know that anything could happen at any time, only that there are certain things that their possibility of taking effect is just out of context even though it could still happen.

But for bitcoin to go down zero level there are things and people that must have gone into extinction the entire users (community) of bitcoin, however I will just assume this news to be one of many FUDs we have always encounter in this crypto industry especially on bitcoin.

[philipma1957]

Can gold's value drop to zero? Yes, they can if everybody in the world has enough gold and nobody needs to buy gold to get it. This is possible with gold because it has an unlimited supply we just don't have the resources to mine all of it. With bitcoin it is not possible as it has limited supply so there will always be a supply and demand factor in the market. Its price can drop drastically, but its value dropping to zero isn't so reasonable to think of. There is a way to drop bitcoin's value to zero and that is by making it inaccessible to the world. Is this possible?

Far harder for that to happen.

but for BTC to zero out it has to be effortlessly pulled from any wallet and we would have bigger issues.

For gold to become worthless humans would need to have zero access to electrical power.

Gold is the best material for power. So if it dropped in price to be under copper it would be use instead of copper for power.

If it drops in price under aluminum it would be used instead of aluminum .

BTW aluminum was more valuable than gold in the 1800's as it was harder to produced than gold.

To op BTC will have value until cryptography becomes as easy as 1+1=2

[STT]

The British pound can drop to zero, did anyone ask him that question of possibilities.   His answer if honest would be of course a piece of paper can revert to the simple thing it is which is just a note promising an exchange with no fixed worth so that worth can be zero.   Bank of England already realized a loss of nearly 99% of its value, he is a bit late to the party to say others can lose 100% as if he stands on a record of clear superiority.

[darkangel11]

Theoritically yes,  practically no - at least not in this century.

Theoretically...
Man can travel outside the Solar System, Earth can be destroyed, extraterrestrial smart humanoids exist, and so on.
Theoretically there could be a global nuclear war, or a solar flare could turn off power and stop all electronic communication.

Bitcoin will not go to 0 as long as there's even a single buyer willing to get it at the price of $1 and I personally know people who would buy it as long as the protocol works. If there was no way to send bitcoin, blockchain stopped working, there was no miners, no nodes, I wouldn't buy it, but try to convince all these people to sell at a loss. Tell a million people that they should dump their mining equipment and theirt bitcoin and be miserable for the rest of their lives, knowing they were building and participating in this ecosystem for nothing.

[jossiel]

Possible? I'd say no, impossible these days.

Why?

How about those Bitcoins that have been lost forever, let's say someone took all of the circulating supply of Bitcoin just to control the volume and there will be no more buyers and sellers.

Will it be zero? no, there's still price in it but the problem will go with the liquidity and not with its price.

I mean... I wouldn't say "impossible", because we are in a world where even the strongest stocks, gold, dollar, anything you can think of can go to "zero", even if not like exactly to zero, it could be very low. But, we all know that just because there is a mathematical possibility of it, doesn't mean that it is going to happen, that is not how that works.

That's my answer why I'd say it is impossible. It can go very low but not to the point that's going to be zero. And as for Bitcoins, there have been lost forever for which that there's a retained value for each of those and that's why there's still value even if the entirety of what people may think of it as zero.

I do agree that the possibility is near zero, and it is just not going to happen and we invest accordingly, but that doesn't mean that we are going to end up with just a sure information or data that backs that up. It is not impossible, but it is as unlikely as anything can be, this is why we just do not consider that as a possibility anymore and look for something else.

I'll just replace it with an unlikely or highly unlikely.

For which that can justify the proof and argument of what you've said that I agree.

[rojan]

Bro don't go for theory there is lots of theory in our world those are actually bullshi*t. So always be practical and believe on the fact. There is lots of people those hate Bitcoin for their own interest but that doesn't mean that Bitcoin will be scam coin it's not a allt-coin. The mining of Bitcoin still running and I don't think we have to worry about Bitcoin in the next 150 years. So till now there is no question that Bitcoin can drop to zero

Bitcoin is now popular with people in almost all countries. I hope all transactions can be done through Bitcoin in next ten years. Bitcoin has become very popular. Hope it can be better in future. Bitcoin will never go to zero. I think Bitcoin.  If it ever drops to zero, many people will suffer huge losses.

[Tony116]

Everything could happen, even Apple shares could drop to 0, if no one uses the product.
the same thing with bitcoin, I see that there are more and more users so the possibility of bitcoin dropping to 0 is getting smaller.

Right, anything can happen and bitcoin going to zero is no exception, but with what is happening, bitcoin going to zero has a very low probability and is very unlikely. Life is full of surprises and the future is something no one can predict. So it would be an exaggeration to say that bitcoin will never go to zero, but it would also be silly if we didn't invest in it to make a profit and wait for it to disappear. Everything has risk and the choice is everyone's, in this world nothing is certain or absolutely safe.

[Reid]

It's possible but look at where it is now. The support from a lot of investors, hardcore Bitcoin fans, and now they are putting Ordinals in Bitcoin chain. Will it happen in the near future? I doubt that. But again, it is possible.
Maybe what you read is just scattering FUD and you will see more of that as Bitcoin keeps on rising after the ETF approval. There are still people who are pessimistic about Bitcoin and you cannot take that away from one project. There will always be those who are against its technology but the number of supporters are higher than them. They are just trying to shake the belief of those who are into Bitcoin.

[JayTrain]

Indeed, the former deputy governor of the Bank of England suggesting that Bitcoin could hit zero is quite an intriguing notion. It really makes you ponder. Can the price drop to zero when, as of today, Bitcoin is trading above $40k.I see it as a strategic move—publicly downplaying Bitcoin to potentially accumulate more at lower prices))) So many statements can be read many times; you need to have your own head on your shoulders. Tomorrow, there might be a new statement from these people with a different opinion

[Hamphser]

Bro don't go for theory there is lots of theory in our world those are actually bullshi*t. So always be practical and believe on the fact. There is lots of people those hate Bitcoin for their own interest but that doesn't mean that Bitcoin will be scam coin it's not a allt-coin. The mining of Bitcoin still running and I don't think we have to worry about Bitcoin in the next 150 years. So till now there is no question that Bitcoin can drop to zero

Bitcoin is now popular with people in almost all countries. I hope all transactions can be done through Bitcoin in next ten years. Bitcoin has become very popular. Hope it can be better in future. Bitcoin will never go to zero. I think Bitcoin.  If it ever drops to zero, many people will suffer huge losses.

It is really that hard to think that Bitcoin could come to zero specially now that adoption and recognition is really that gradually spreading throughout the globe. Somewhat there are really places or corners of this world on which it do prohibit on using up Bitcoin due to some legal issues but now that we've seen that ETF's had been approved then it would really be that hard not to have those kind of positive feelings towards it considering that its never been that something been expecting to happen in the first place. No one had really that anticipated about ETF approval but somewhat having this does have that its cons too.
Well, it doesnt matter as long recognition and adoption is really that getting higher and higher as the years passing by on which this is something that we do really need on.

[$crypto$]

But for bitcoin to go down zero level there are things and people that must have gone into extinction the entire users (community) of bitcoin, however I will just assume this news to be one of many FUDs we have always encounter in this crypto industry especially on bitcoin.

Bitcoin going to zero is impossible for me, when there are still many people buying it then the price will remain there. In theory it might be possible but in my understanding it is not possible.
There is a lot of news spreading FUD where bitcoin will reach zero price, it is said that there are no takers, this coin is said to be rubbish and that is said by people who don't like it, they prefer fiat so they say that.
Fud news will never go away, it will always appear to corner Bitcoin.

[doomloop]

Former deputy governor, BOE believes Bitcoin can drop to zero. I wonder what his opinion is at the moment.

"Their price can vary quite considerably and they could theoretically or practically drop to zero." Jon Cunliffe saiid.

And what's the different between theoritical and practical drop to zero for BTC?

Can the price theoritically drop to zero but practically trade above $40k. Kinda confusing.

If he used the word "They", I'm pretty sure he is referring to altcoins and we all know that altcoins do tend to have such natures, and many altcoin projects have gone to zero and we call it a rug pull where the developers dump all their tokens on the market and run away with the funds while other holders get no liquidity to sell their assets and the project dies at that point. He can't refer to Bitcoin using that word, and he can't say things like that about Bitcoin if he has at least a little bit of knowledge about it.

And since he also said it could theoretically happen, it pretty much clears the meaning that even he knows that Bitcoin or all of the cryptocurrencies could never go to zero all of a sudden unless every single cryptocurrency user in the world stops using cryptocurrencies all of a sudden, there would be no transactions, no buys and sells nothing, but that doesn't sound realistic which is why he used the word theoretically.

[Mr.suevie]

Can the price theoritically drop to zero but practically trade above $40k. Kinda confusing.

Theoretically yes since it happened already in some projects but considering the trend and the demand for Bitcoin, I think we will not see Bitcoin in that kind of level as this is already part of the financial system though as time goes by Bitcoin might be replaced by something and its to know what it is.

For now, better to enjoy Bitcoin while it is still there and make profit as well, the market is getting better and you should not focus on the negative side, be more optimistic and hold more Bitcoin.

I think all these your thoughts is very possible because there is one constant that doesn't ever changes and that would be change itself, everything is possible but yet impossible too like you have stated the value and demand for Bitcoin now has made it impossible for the price to drop that low and also their is the fact that it's nature of decentralization makes it different from all other crypto because centralized own coins market value can be altered by different scandals targeted at the owners of the coins but with Bitcoin it's different cause no one owns it or for a fact the owner is actually missing.

[Minor Miner]

Can the price theoritically drop to zero but practically trade above $40k. Kinda confusing.

Theoretically yes since it happened already in some projects but considering the trend and the demand for Bitcoin, I think we will not see Bitcoin in that kind of level as this is already part of the financial system though as time goes by Bitcoin might be replaced by something and its to know what it is.

For now, better to enjoy Bitcoin while it is still there and make profit as well, the market is getting better and you should not focus on the negative side, be more optimistic and hold more Bitcoin.

I think all these your thoughts is very possible because there is one constant that doesn't ever changes and that would be change itself, everything is possible but yet impossible too like you have stated the value and demand for Bitcoin now has made it impossible for the price to drop that low and also their is the fact that it's nature of decentralization makes it different from all other crypto because centralized own coins market value can be altered by different scandals targeted at the owners of the coins but with Bitcoin it's different cause no one owns it or for a fact the owner is actually missing.

It is true that thanks to its decentralized nature, the scenario of bitcoin losing value and falling to zero is much more unlikely than other projects. But ultimately, the value of bitcoin depends on our supply and demand. So if we can create a project that performs better than bitcoin and our need for it disappears then it is entirely possible that bitcoin price could go to zero. Many people are confident that no better project than bitcoin will be created in the future and they look at current altcoins to evaluate. But I don't agree with that point of view because the future is unpredictable. Just like no one would have thought that Satoshi could create a decentralized currency like bitcoin until it was created.

[carlfebz2]

Can the price theoritically drop to zero but practically trade above $40k. Kinda confusing.

Theoretically yes since it happened already in some projects but considering the trend and the demand for Bitcoin, I think we will not see Bitcoin in that kind of level as this is already part of the financial system though as time goes by Bitcoin might be replaced by something and its to know what it is.

For now, better to enjoy Bitcoin while it is still there and make profit as well, the market is getting better and you should not focus on the negative side, be more optimistic and hold more Bitcoin.

I think all these your thoughts is very possible because there is one constant that doesn't ever changes and that would be change itself, everything is possible but yet impossible too like you have stated the value and demand for Bitcoin now has made it impossible for the price to drop that low and also their is the fact that it's nature of decentralization makes it different from all other crypto because centralized own coins market value can be altered by different scandals targeted at the owners of the coins but with Bitcoin it's different cause no one owns it or for a fact the owner is actually missing.

It is true that thanks to its decentralized nature, the scenario of bitcoin losing value and falling to zero is much more unlikely than other projects. But ultimately, the value of bitcoin depends on our supply and demand. So if we can create a project that performs better than bitcoin and our need for it disappears then it is entirely possible that bitcoin price could go to zero. Many people are confident that no better project than bitcoin will be created in the future and they look at current altcoins to evaluate. But I don't agree with that point of view because the future is unpredictable. Just like no one would have thought that Satoshi could create a decentralized currency like bitcoin until it was created.

Would really always depend on the demand and recognition on which we know that this one would really be that determining about into its price but we do know that when it comes to other factors then this is where
manipulation  could possibly effect in overall movement on which it cant really be avoided that dumps and crashes is really that possibly could really happen into this space.
Bitcoin can go drop to zero? Anything could happen into this market on which there would really be no assurance when it comes to future but currently seeing on how known and widespread Bitcoin is
globally then we can really tell that it is really that have huge potential.

This is why it would really be that important that you should really just invest on the amount on which you can afford to lose and never ever make yourself having that all in thing.
People do usually wrecked up themselves on the time that they would really be going all in and anticipating or expecting that much.
They do forget about that risks factor thing.

[wmaurik]

Bitcoin is now popular with people in almost all countries. I hope all transactions can be done through Bitcoin in next ten years. Bitcoin has become very popular. Hope it can be better in future. Bitcoin will never go to zero. I think Bitcoin.  If it ever drops to zero, many people will suffer huge losses.

It's not just about how many people will suffer or experience difficulties when Bitcoin goes to zero. But it will also be researched as best as possible why it can become zero when Bitcoin's popularity has increased over time in every year through whatever means, I don't think that Bitcoin will become zero as long as there are still many transactions taking place among the public through any exchange.

And as long as the level of fame continues to increase in society in all countries, it will make it difficult for Bitcoin to return to zero again in terms of value and price. So this is very simple for everyone to understand and feel based on the evidence that we have seen together. on many media and also on many exchanges that are often used by crypto traders and investors themselves.

[kamvreto]

Why is there always a stupid question about bitcoin will reach ZERO price, even though since bitcoin was created bitcoin has never touched ZERO and it never will. seeing the growing bitcoin and crypto community ZERO will not be a downturn that will occur. But this question always remains, is this some kind of Soft FUD or just asking what the effect will be when Bitcoin reaches ZERO. Don't think about ZERO, but think about the new ATH that Bitcoin will reach soon.

[ancafe]

It's not just about how many people will suffer or experience difficulties when Bitcoin goes to zero. But it will also be researched as best as possible why it can become zero when Bitcoin's popularity has increased over time in every year through whatever means, I don't think that Bitcoin will become zero as long as there are still many transactions taking place among the public through any exchange.

And as long as the level of fame continues to increase in society in all countries, it will make it difficult for Bitcoin to return to zero again in terms of value and price. So this is very simple for everyone to understand and feel based on the evidence that we have seen together. on many media and also on many exchanges that are often used by crypto traders and investors themselves.

There is a reason why bitcoin will not reach zero because something strong will be much more capable of maintaining its value. Bitcoin has become so widespread in terms of adoption that many companies and individuals have seen the impact of its presence in influencing the financial system. A strong background regarding losing value is impossible because bitcoin is not a global currency but an alternative and to hit bitcoin to zero there is no strong and clear representation.

Only some people are worried about how the value will become zero and what Bitcoin has provided actually shows how strong Bitcoin's journey is in a market full of obstacles. For example, the case of Covid and geopolitics and even though it affects Bitcoin, it is only temporary, while in the long term we still see an ATH process that may occur in the future period.