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> * The nature of BitCoin could make it from an asset worth 350 USD to 0 USD overnight No. Not unless it stops being traded for anything. Read this: http://bi

> * The nature of BitCoin could make it from an asset worth 350 USD to 0 USD overnight No. Not unless it stops being traded for anything. Read this: http://bitcoinsurvey.wordpress.com/2013/04/08/what-is-the-real-price-of-bitcoin-measuring-bitcoin-hoarding-irrational-exuberance-and-the-inevitable-crash/ http://bitcoinsurvey.wordpress.com/2013/04/08/what-is-the-re... It makes sense if you think about it. As long as 2 parties will accept Bitcoin as a trade medium, it literally MUST have a value in order to carry that exchange value. Whether it's 10,000 coins for 1 pizza or 1 coin for a gold bar. So no, it will never go to zero anymore unless something as useful and unique comes out which is at least twice as good (due to network effects). That doesn't mean a portion of the current value isn't speculative. But the speculative value is NOT "all" the value.

SilasX 13y ago
Grandparent: Bitcoin could fall to 0 USD overnight. You: Not true, it would only fall arbitrarily close to 0 USD. Me: Not reassured.
- lectrick 13y ago
  If you actually read the article, at the time it was written (months ago, when BTC volume was lower), it calculated a "bottom, minimum" value of about $45 USD. So if it ever goes back to there, it will most certainly be a buy... which will of course drive the price higher, into the speculative space. Basically, since the cat is out of the bag, it won't be possible to get completely rid of the speculative portion of the value, but the fundamental portion of the value WILL keep rising (at this rate).
  - SilasX 13y ago
    I was replying to your comment[1], not the numerous, separate arguments that could have been made in defense of a related point. I'm optimistic myself about BTC, but don't think your comment as written is a good reason to think so in the context of the GP's point. [1] specifically, "As long as 2 parties will accept Bitcoin ... it literally MUST have a value ... Whether it's 10,000 coins for 1 pizza ...". That last bit is the "arbitrarily close to zero" lower bound I was attributing to you.

SilasX 13y ago

Grandparent: Bitcoin could fall to 0 USD overnight. You: Not true, it would only fall arbitrarily close to 0 USD. Me: Not reassured.

lectrick 13y ago
If you actually read the article, at the time it was written (months ago, when BTC volume was lower), it calculated a "bottom, minimum" value of about $45 USD. So if it ever goes back to there, it will most certainly be a buy... which will of course drive the price higher, into the speculative space. Basically, since the cat is out of the bag, it won't be possible to get completely rid of the speculative portion of the value, but the fundamental portion of the value WILL keep rising (at this rate).
- SilasX 13y ago
  I was replying to your comment[1], not the numerous, separate arguments that could have been made in defense of a related point. I'm optimistic myself about BTC, but don't think your comment as written is a good reason to think so in the context of the GP's point. [1] specifically, "As long as 2 parties will accept Bitcoin ... it literally MUST have a value ... Whether it's 10,000 coins for 1 pizza ...". That last bit is the "arbitrarily close to zero" lower bound I was attributing to you.