Post
Topic
Board Bitcoin Discussion
Re: Can bitcoins become worthless?
by
Wyne
on 03/01/2018, 08:05:25 UTC
For me possibly to yes. History is littered with currencies that failed and are no longer used, such as the German Mark during the Weimar Republic and, more recently, the Zimbabwean dollar. Although previous currency failures were typically due to hyperinflation of a kind that Bitcoin makes impossible, there is always potential for technical failures, competing currencies, political issues and so on. As a basic rule of thumb, no currency should be considered absolutely safe from failures or hard times. Bitcoin has proven reliable for years since its inception and there is a lot of potential for Bitcoin to continue to grow. However, no one is in a position to predict what the future will be for Bitcoin.
Many currency failed because it is not accepted by the people. Any currency become valuable if people believe that is has value. That is the concept of money. If people do not have confidence in a certain currency, nobody will invest on it, then it will failed. Those currency fate will not gonna happen in bitcoin? Why? Because it is widely accepted and many people have confidence in bitcoin. This is proven on it's growing community. Many people testify that they earned from investing bitcoin. Plus the fact that many people predicted that it is the currency of the future. So, bitcoin will never become worthless.