What if Bitcoin went to zero?
economist.com
economist.com
[1] https://www.fitchratings.com/research/fund-asset-managers/st...
I suspect I'm far from the only one with that outlook, and therefore ... BTC going to zero is unlikely.
a nice stream of useless hyperbolic and very well timed pieces
on a more serious note, who thinks distributed supply chain management could really help things on large scale ? (supposedly free, consistent, 24/7 tracking of items and data) I see so much friction for that in companies .. it made me wonder.
This is already its own industry. Lots of big companies have bought into the blockchain aspect of it.
Unfortunately I can't give you any names. I just know a few select friends of mine quite literally never shut up about it.
I just know it exists.
1) it's 90% fad ?
2) it does improve the existing ?
3) do you think the broad principles can reach other parts of society (I do, but I'm not connected to anybody in the industry.. I should though)
But I could be wrong.
It would be surreal, but if the IRS is given hope that it's a way to get people scared of btc, and that the KYC data all these exchanges have allow accurate enough accounting and tracking, they would do it, givin all sort of explanation as to why the new taxation rules are needed.
Nouriel Roubini implies that carbon tax could mean a negative value. Contrary to income tax, a carbon tax wouldn't be a "negative" tax.
If it went to near 0 it could be out paced by inflation. I guess also if fees outpaced it's extrinsic value could mean an overall negative valuation. But a actual value below 0 would be rather difficult.
0n a long enought time line bitcoin, in its current form at least, will 100% be worthless. That day is when its cryptographic backbone is either broken or surpassed by computing capacity to break the public / private keys.
So yes, I completely agree with your agreement.
Wrong, there have been a few soft forks already. You seem to not know the history of bitcoin or what makes bitcoin bitcoin. You need to do some studying before discussing this topic.
This is not a hypothetical, I will buy the remaining supply given a steep enough discount. At $1 BTC, the total supply would only cost $21M (not a lot of money). I can think of at least 5 peers that would do the same.
Crypto communities spread FUD about fiat all the time. Some of it justified.
But equally justified is looking at the -real- value that BTC and other crypto assets offer.
(Disclosure: As many people here on HN, I entered into the crypto space during the 2016-2017 rally. Still get paid in fiat. And my biggest assets are in real-estate.)
Imagine that mentality in other fields. Like “there’s no way we can make laws against murder, because people can just sail to international waters and kill their victim and then come back”
Bitcoin only has value due to people and those people are all subjects to some laws and regulations. It’s perfectly reasonable to expect over time that these laws will make bitcoin “just a boring currency” in which case it will go to zero, because it’s an absolutely horrible currency by all accounts. Anyone who has ever tried to buy a cup of coffee with Bitcoin will tell you. Bitcoins current valuation is a combination of speculation and illegal transfer of value. Both of which are extremely vulnerable to regulation, and “it’s algorithms running on computers” doesn’t protect against that, no matter how many cyberpunks have wet dreams that it does.
https://twitter.com/PeterMcCormack/status/140447240554906010...
As a citizen of such a country, I can see the attraction of Bitcoin. Bitcoin offers hard-working people a way out. (South Africa has relaxed it's capital controls to the point where I never considered buying Bitcoin. But there are some millionaires here who are not allowed to take all their money out)
Source please?
I would have guessed; by market cap the majority is held in the US and Europe. I would have guessed: by transaction volume, the majority in the US and Europe.
China has capital controls and little press freedom.
Note that the US and Europe has highly evolved capital markets. They may have deep, liquid markets, but it does not reflect the relative popularity of Bitcoin.
If something has zero intrinsic value, does it matter which units are used to expressed that (so long as the units themselves have some non-zero value)?
Let's take EURUSD for example - both currencies are loosing purchasing power but EUSUSD ranges from 0,9 to 1,6 within last 50 years.
In some sci-fi scenario US Dollar could also go to zero if for example USA looses major war with China as is left with crushing debt. This is a possibility. What would be the value of Bitcoin then?
You're wrong: all the nocoiners on HN would be robbed of an opportunity to cringe every time BTC is mentioned on the site.