5 ms·

It's not going to 'magically' drop to zero. It is going to drop to zero.

lrvick 4y ago
It will never drop to 0, barring no fundamental security flaws are discovered, because there will always be people like me that are never willing to sell and always willing to buy more. If it hits $1, I will just stock up. Traders getting out is good for me. I am in Bitcoin, or any really viable replacement that emerges, long term for reasons fickle speculators do not care about. I fundamentally believe a healthy society needs a reasonably private, international, censorship resistant, and open source financial system that works over the internet. I see such a thing as having more -real- value than the US dollar that a small number of people can print more of at any time for political reasons.
- kgwgk 4y ago
  > Traders getting out is good for me. Say everyone gets out except you. You own all the bitcoins in the world. Now what?
  - lekevicius 4y ago
    Assuming the node network and mining remains intact... now you own a pretty valuable and difficult to replicate infrastructure. At least some people will want to own the "native token" of that network.
    - bovinejoni 4y ago
      How is that a realistic assumption? The infrastructure goes dark as soon as the mining incentives disappear. You own an internet relic, a MySpace page
  - nextstepguy 4y ago
    I believe that was Warren Buffett explanation on Bitcoin a while back, during Berkshire Hathaway‎ quarterly earnings report.
  - naveen99 4y ago
    Use it as the family ledger ?
- algo_trader 4y ago
  Could u please game this out for me (Disclosure: i do not hold or hate crypto)? 99% of crypto users sell, or abandon their wallets Remaining users are HODL, and even have some cash left Demand falls, prices falls, mining difficulty adjusts, HODLs keep buying As difficulty falls, there is a real risk of something-something-51% attack So HODLs (acting rationally) need to spend more $$ to boost prices just to protect their existing coins So now, we have a finite asset (coins), which do not generate income, but require non trivial constant $ cost just to protect it?
redox99 4y ago
So I assume you are heavily shorted on BTC? Put your money where your mouth is?

It will never drop to 0, barring no fundamental security flaws are discovered, because there will always be people like me that are never willing to sell and always willing to buy more. If it hits $1, I will just stock up. Traders getting out is good for me. I am in Bitcoin, or any really viable replacement that emerges, long term for reasons fickle speculators do not care about. I fundamentally believe a healthy society needs a reasonably private, international, censorship resistant, and open source financial system that works over the internet. I see such a thing as having more -real- value than the US dollar that a small number of people can print more of at any time for political reasons.

kgwgk 4y ago
> Traders getting out is good for me. Say everyone gets out except you. You own all the bitcoins in the world. Now what?
- lekevicius 4y ago
  Assuming the node network and mining remains intact... now you own a pretty valuable and difficult to replicate infrastructure. At least some people will want to own the "native token" of that network.
  - bovinejoni 4y ago
    How is that a realistic assumption? The infrastructure goes dark as soon as the mining incentives disappear. You own an internet relic, a MySpace page
- nextstepguy 4y ago
  I believe that was Warren Buffett explanation on Bitcoin a while back, during Berkshire Hathaway‎ quarterly earnings report.
- naveen99 4y ago
  Use it as the family ledger ?
algo_trader 4y ago
Could u please game this out for me (Disclosure: i do not hold or hate crypto)? 99% of crypto users sell, or abandon their wallets Remaining users are HODL, and even have some cash left Demand falls, prices falls, mining difficulty adjusts, HODLs keep buying As difficulty falls, there is a real risk of something-something-51% attack So HODLs (acting rationally) need to spend more $$ to boost prices just to protect their existing coins So now, we have a finite asset (coins), which do not generate income, but require non trivial constant $ cost just to protect it?

redox99 4y ago

So I assume you are heavily shorted on BTC? Put your money where your mouth is?