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.
Theoretical validates the possibility. A lot is theoretically possibly and yet not practically possible.
In terms of practicality, Bitcoin would only drop to 0 if no one sees value in it anymore...if the blockchain gets hacked or does not function as it has to-date, then it will become useless to everyone. If there is no demand to meet supply, it can go to 0, or very close to it. However neither of these are relevant now and most likely will not be relevant for the foreseeable future.
There is absolutely no reason to believe that Bitcoin will lose all of its demand.