It can all go to zero

Re:It can all go to zero by nrhk on Tuesday January 16, 2018 @05:42PM (#16163465)

Which is fine, there's plenty of people who believe in it enough to buy at lower price points and think the current level is a bubble. What about $100 billion for the entire market, all the miners, all the companies, venture capitalist, developers etc... Who says Bitcoin even needs to be worth anything, the faster that stuff dies the faster the rest of the crypto world can move on without it.

The market as a whole won't tank completely unless its revealed that blockchain or DAG tech can't ever scale and decentralized tech is just too slow and inconvenient to use for everyday purposes.

At some point during said panic sale-off people will think, hey have the fundamentals changed or is this just a panic sell-off? Then they won't sell or will sell with the intent of buying in lower.

[ Parent | on HN ]

Re:It can all go to zero by InclinedPlane on Tuesday January 16, 2018 @05:57PM (#16163598)

So you're saying it's "different this time"?

Curious, none of the things you mention indicate how this speculative bubble is any different from houses, stocks, or tulips.

[ Parent | on HN ]

Re:It can all go to zero by akvadrako on Wednesday January 17, 2018 @08:00AM (#16167508)

He mentioned it - it's different because Bitcoin has "believers". If a few billionaires and millions of others want it no matter what, it'll retain value.

People were investing in houses, stocks and tulips to make money. Many people invest in Bitcoin for religious reasons.

[ Parent | on HN ]