Post
Topic
Board Bitcoin Discussion
Re: Can bitcoins become worthless?
by
guybrushthreepwood
on 03/01/2018, 12:23:45 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.

Short answer: Yes. It won't be due to hyperinflation obviously but it could easily be surpassed by something eventually and fall out of favor. If nobody uses bitcoin or moves onto something far superior then I think that would be the end of bitcoin. I don't think it will happen any time soon and I think there will now always be some sort of crypto or decentralized currency but there's no guarantees it will be bitcoin. I hope I'm wrong but if something can solve all the issues or problems bitcoin has then I think it could dominate the market but then years down the link problems may arise with that currency and something may come around to dominate that one as well so I think we'll see some sort of Darwinian natural selection emerging where the best coin prospers.