Post
Topic
Board Bitcoin Discussion
Re: Is it possible for Bitcoin to fall and become worthless?
by
Upgrade00
on 19/09/2020, 06:34:11 UTC
Calvin Ayre reportedly predicted that Bitcoin would crash to zero in 2019, but we are months into 2020 now. You should not be listening to Bitcoin predictions from supporters of Bitcoin forks, most use such controversial comparisons to draw attention to their projects.
Warren Buffet has expressed that he does not invest in things he does not understand, and Bitcoin seems to be one of those things. His decision to not invest in it or his opinion on its worth doesn't define Bitcoin.

the two economists concluded that the probability of a catastrophe occurring and bitcoin falling was something between "zero." Up to 1.3%. At the time of writing, they explained that the figure was about 0.4 percent. To better understand this number, he also noted that the probability of the euro falling and depreciating to zero is about 0.0009%.
This doesn't quite add up, but if we're are to actually consider it;
The Euro was introduced around 1999, but it is stems from previous currencies and decades of planning and implementation, comparing it to Bitcoin which is barely 10 years in, is an indicator of how strong the network is.
Imo, the probability of fiat currencies depreciating is on an ascending trajectory while that of Bitcoin is dropping.

Some believe that the Bitcoin cryptocurrency will eventually fall to zero dollars because it has no intrinsic value, it is supported by customer trust and sophisticated mathematical calculations.
That quality of being trustless and tamper proof due to the mathematical calculations are what makes Bitcoin attractive and valuable. Intrinsic value is a subjective discussion.