Back in the day, Vitalik once said that crypto will be going to zero. There has been many concerns about the longevity of cryptocurrency as a serious form of money, given that it's relatively unstable within the mainstream world. It's been 10 years since Bitcoin was created where crypto has had its ups and downs. However, many are afraid that crypto will be going to zero as the blockchain hype ends and governments start rolling their own digital currencies. When we take a look at most cryptocurrencies on the market, most of them aren't even useful at all. Perhaps, the only one is Bitcoin but it's terrible as a currency for daily transactions.
Which is why, I'm starting to wonder if crypto will really go to zero in the future? If this happens, then most of us will lose our hard-earned money as crypto becomes worthless. What are your thoughts?
Which is why, I'm starting to wonder if crypto will really go to zero in the future? If this happens, then most of us will lose our hard-earned money as crypto becomes worthless. What are your thoughts?
Technically, the answer should be "no". Crypto going to $0 would mean that all money must flow out of crypto which would be pretty unlikely. Next there would be the issue that there are lots of lost wallets in many different projects, which would mean that all of those wallets would need to be found and emptied, which would honestly be really unlikely. Of course it could be possible to go to zero too if all exchanges were to close / shutdown, and any place that had a interest in crypto / bitcoin decided to value it at zero even with the locked wallets. I would still imagine that it would be extremely unlikely though.
With that being said though, if Bitcoin were to drop to say $500 or $1000 again, I would imagine that there would be a massive influx of buying pressure. That alone would keep it from getting close to zero imo.
I don't see Bitcoin replacing fiat anytime soon though. I think there's too many issues with that (especially the volatility).