Former deputy governor, BOE believes Bitcoin can drop to zero. I wonder what his opinion is at the moment.
"Their price can vary quite considerably and they could theoretically or practically drop to zero." Jon Cunliffe saiid.
And what's the different between theoritical and practical drop to zero for BTC?
Can the price theoritically drop to zero but practically trade above $40k. Kinda confusing.
We'll have to see when he speaks, and what Bitcoin price is at that time. Talking about theoretical.
If at the time he spoke the price of Bitcoin was $40k, one week later the price was $50k, and after that the price returned to $40k, which means the price of bitcoin returned to zero, or returned to the base price of $40k. Because buyers at the previous $40k price were getting nothing.
This is a simple way to understand what is being said.
If the practice goes to zero without any value, perhaps this is not appropriate. It could be that the world's internet network is disconnected, so transactions won't work.