Quote from: moneystery on January 30, 2024, 11:03:50 PM

Quote from: OddJobsForBitcoin on January 11, 2024, 09:24:08 PM

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.

bitcoin falls to zero, then the world is in a state of apocalypse, currently it is impossible for bitcoin to be worth zero because bitcoin is already owned by millions of people around the world and has been traded in commodity form in many countries so those who think bitcoin will fall to zero are quite idiot.

never mind falling to zero, even bitcoin falling to $1000 is impossible at the moment, logically when bitcoin's value goes down further there are many speculators who will buy bitcoin and pump the price again, btc will remain at tens of thousands of dollars (lowest).

You are in line with my view, we must have been in the state of an apocalypse for Bitcoin to move to zero($0), and this is certainly not possible. What I've noticed is that any asset that has been appreciated as much as Bitcoin has been appreciated can never move to zero ($0) anymore and the reasons are many. But first, we must know that a terrible thing must have happened to the Bitcoin market for it to happen like that, especially if all the government of the world turned their backs on the coin and started clamping down on all Bitcoin users, domains, apps, exchanges and all that. This is not feasible really but if it happens, the price of Bitcoin will terribly fall, yet, it will have a limit to the falling.

One and the most important reason that Bitcoin will not reach zero ($0) even if terrible things happen to it is that it is not everybody who will be able to sell their coins anymore. Some might be willing but will not have anybody to sell it to as no one will be willing to buy at that time. While some had died and still had their coins active. Some have a whole lot of the coin but their access passes have been lost. While some will not just be willing to sell the coin with the belief that it will rise again. So it will never get back to zero ($0) even with the worst situation.