Re:What if Bitcoin went to zero?
by hirako2000 on Sunday September 05, 2021 @04:16AM
(#28422452)
If btc goes to zero, and it's almost certain it will. Then it means other decentralised ledger tech have fulfilled the needs initially satisfied by btc. To the point where nobody wants btc even for the equivalent of a penny.
I wouldn't pay a penny to get telegraphs credits since there are no network available to me to use them for anything. And phone, then Internet supersedes all features of telegraphs.
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That crosses into personal attack, which is not allowed and will get you banned here. Please don't post like that to HN.
Bitcoin is not magic, the opportunities it offers are also available to other technologies and if others solve the problems better than Bitcoin then it too will go the way of the Telegraph credits.
Social networks didn’t disappear and likely won’t disappear, but arguing that people “missed the opportunity of social networks” for saying that MySpace would go away is just plain silly.
I don't own any crypto, yet I don't see BTC going to zero. It may already have network effects.
Network effects are important but it is worth considering. Also worth considering what it would take for other large beneficiaries of network effects like Facebook, Apple, & Google to go to zero.