News for hackers. Stuff that matters.

A comment on What would it take for Bitcoin to fail?.

Re:What would it take for Bitcoin to fail? by verdverm on Saturday December 28, 2024 @11:15PM (#42537465)
Depends on how you define it. Certainly the currency aspect never materialized as the major market players decide that it was better to speculate and/or use it as a store of value.

Another "failure mode" is it being made illegal in the dominant economies such that demand largely disappears. This seems less likely as wallstreet has put money in and they also buy politicians

[ Parent | on HN ]
Re:What would it take for Bitcoin to fail? by enether on Sunday December 29, 2024 @11:01AM (#42540706)
Right.

By failure I personally meant the monetary value being erased. e.g going from $100k to $10k, staying there for a few years trading sideways, then going down to $0 (or close, whatever)

That part feels extremely unlikely to me. I would give it in the range of 10-25% chance of occurring, given the history, momentum and human behavior.

[ Parent | on HN ]