absolutely nothing of value would be lost really if this happened
Maybe not, but please don't post unsubstantive comments to Hacker News.
What if Bitcoin went to zero?
71–80 of 84 posts
Re: What if Bitcoin went to zero?
#72absolutely nothing of value would be lost really if this happened
> absolutely nothing of value would be lost really if this happened You're wrong: all the nocoiners on HN would be robbed of an opportunity to cringe every time BTC is mentioned on the site.
Please don't reply to a bad comment with another bad comment. That only makes the thread worse, and the site guidelines ask you not to.
Re: What if Bitcoin went to zero?
#73Earlier quoted context omitted.
> absolutely nothing of value would be lost really if this happened You're wrong: all the nocoiners on HN would be robbed of an opportunity to cringe every time BTC is mentioned on the site.
Nah, we could still continue to laugh at it like we laugh at beanie babies... Or tulip mania.
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Re: What if Bitcoin went to zero?
#74If btc goes to zero, and it's almost certain it will. Then it means other decentralised ledger tech have fulfilled the needs initially satisfied by btc. To the point where nobody wants btc even for the equivalent of a penny. I wouldn't pay a penny to get telegraphs credits since there are no network available to me to use them for anything. And phone, then Internet supersedes all features of telegraphs.
How does it feel to be involved with technology to such a degree so as to be reading and commenting on hacker news and yet you entirely missed any opportunity so far with Bitcoin ?
That crosses into personal attack, which is not allowed and will get you banned here. Please don't post like that to HN.
Re: What if Bitcoin went to zero?
#75paywall
Works a treat: https://github.com/iamadamdev/bypass-paywalls-chrome
Re: What if Bitcoin went to zero?
#76Bitcoin will never go to zero. Why? There are too many billionaires that will buy the total available supply long before it can get to $0.
Why do you think they would do that?
Because I know a large % of the supply will never be unlocked and I can own the remaining available supply at a reasonable price.
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.
Re: What if Bitcoin went to zero?
#77Bitcoin will never go to zero. Why? There are too many billionaires that will buy the total available supply long before it can get to $0.
Just like all the billionaires that bought the total supply of tulips when they were falling, right?
Fixed total supply vs unfixed (perishable) total supply. There is no legitimate comparison to be made as far as 'collectibles' are concerned.
Re: What if Bitcoin went to zero?
#78Bitcoin will never go to zero. Why? There are too many billionaires that will buy the total available supply long before it can get to $0.
It might just overshoot zero and go to a negative value. 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 you think the chain will be attacked and all the devs with trillions invested (at that point in the future) will be completely blindsided and not defend the network by soft/hardforking/etc? I completely disagree.
Re: What if Bitcoin went to zero?
#79If btc goes to zero, and it's almost certain it will. Then it means other decentralised ledger tech have fulfilled the needs initially satisfied by btc. To the point where nobody wants btc even for the equivalent of a penny. I wouldn't pay a penny to get telegraphs credits since there are no network available to me to use them for anything. And phone, then Internet supersedes all features of telegraphs.
I don't own any crypto, yet I don't see BTC going to zero. It may already have network effects.
Network effects are important but it is worth considering. Also worth considering what it would take for other large beneficiaries of network effects like Facebook, Apple, & Google to go to zero.
Re: What if Bitcoin went to zero?
#80I would love to see Bitcoin crash to close-to-zero levels: I'd buy as much as I can afford short of actually starving. I suspect I'm far from the only one with that outlook, and therefore ... BTC going to zero is unlikely.
If btc goes to zero a lot of stuff may have to happen, why do you think it would be so attractive to you then? Think of it this way: Are you rushing to buy forks that are dropping to zero now?
People with high risk tolerance move in when everyone is afraid (catching the falling knife). Knowing enough to trust Bitcoin's antifragile support structure and game theory is a market edge during a blackswan scenario.