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What if Bitcoin went to zero?
- rasz 5y agoSadly it never will. Gamestop - losses after losses, revenue decline 20% YoY. Record $12B valuation. Nicola - CEO in prison, non existent IP, company in hands of golf course supervisor and concrete pouring contractor, $4B market cap. Economic facts and common sense stopped being even considered.
- mikewarot 5y agoZero demand is a really hard thing to reach. $0.01/BTC is far, far easier. Someone will always want a Bitcoin for nostalgia's sake. Having seen the way people hang on to boat anchors in Ham Radio, that puts the upper limit about 60 years out. Until then, even if it were made illegal to purchase, someone would be willing to run a CPU miner for nostalgia's sake to get one. So, it's either 60 years after it goes to zero, or when the reward goes to zero in 2140, whichever comes first.
- flemhans 5y agoA very fundamental security flaw could maybe cause it to "go to zero", couldn't it?
- mikewarot 5y agoYes, eventually all currencies go to zero value as they are debased. The US dollar, for example, is currently priced at 1/20th of a 1900 Silver Dollar, and 1/87th of a Gold Dollar. The billions of dollars flowing into Bitcoin (and keeping its value inflated) can be considered as a measure of faith that no such flaw exists.
- trixie_ 5y agoYep, this is how it goes to zero. Hopefully not, but if it did, a fundamental flaw that invalidated the blockchain would probably be the reason. Diversify!
- CRConrad 5y agoSubscription- / paywalled. https://archive.is/z6Jrv https://archive.is/z6Jrv