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Wow so it can you drop to zero in a very real sense before it even drops to say $40?!?

• JumpCrisscross 9y ago
  > Wow so it can you drop to zero in a very real sense before it even drops to say $40?!? Markets crash discontinuously. It was trading at one hundred, it was trading at one hundred, it was trading at 99, it was trading at 2. Go on GDAX and look at the order book. Lots of demand priced close together at the top of the book. As you go down, the bids are further apart. As a first-order approximation, that's a decent view into what would happen if a massive bought of selling hit the exchange.
• tlrobinson 9y ago
  In that case a majority of users would likely agree to a hard fork that adjusts the difficulty. Some people would probably argue it's no longer "Bitcoin" at that point, but at least you'd still hold coins that have some value.