can bitcoin ever collapse

[akfirsttry]

I was thinking into investing in Bitcoins. Its a chunk of money. Is it possible that bitcoin can ever collapse and my investment going down the drain? I would really like to know the comments of all the gurus here on this topic.

 

[Mr Positive]

See prices go down they bounce up buy Everytime they fall, but don’t put a lot too

 

[Grudge]

Yes, it totally can. Not really probable but everything can go to 0 so yea.

 

[BrandingCat]

Don`t need to be a `` guru `` to realize bitcoin as any other crypto is volatile, especially after killing Silkroad and other black markets in which crypto was their invisible middle man and making crypto taxable.

It can be a rocket, but some rockets can crush. I may be wrong, I don`t know fuck all about this, just my opinion.

 

[Silent Smoker]

NOT in 5 years OP
The world is just started to see it's corners!

Cheers

 

[whiskey1]

As you can tell by now nobody knows the future but if you want to put your money in crypto bitcoins is your best bet

 

[Member_MMO]

Today bitcion deeply engages in the most life activities in commerce. All fluctuations in politics, life, corporate policy affect the price of bitcoin.
Recent individual price estimates of bitcions have been linked to the corinnavirus disease. It itself affects Chinese trade with the world, so investors seek a temporary safe haven.
Sorry my english is very bad

 

[Deleted member 1333509]

Bitcoin is not a quantum-resistant cryptoasset in its current state, and so yes, with the advent of quantum computing the cryptography which protects the Bitcoin network from attacks would be all but useless.

There are two primary ways that the use of quantum computing could take Bitcoin to zero overnight:

1. Brute forcing private keys would actually be, not just feasible, but relatively easy and incredibly profitable (before the network collapsed of course)

2. Mining with a quantum computer would render the whole concept of "Proof-of-Work" completely defunct, and again, before the network collapsed it would be very profitable to outmine the rest of the hash pool.

Quantum computers are a huge threat to the viability of all non-quantum-resistant cryptocurrencies. Apart from that there really isn't another significant threat to the medium-long term growth of Bitcoin as a tool for widespread financial use.

The only other threat that can be considered legitimate right now is the potential for a stable coin to completely eradicate Bitcoin's potential to become the global crypto reserve currency. For most crypto users and for the general public, they think the idea is that one day a cryptocurrency will replace fiat currencies as what is used in day-to-day financial transactions.

Because Bitcoin is, and always has been, the premier cryptocurrency, people assume that Bitcoin will someday be what everyone is receiving their paychecks in. In reality, it's significantly more likely that an algorithmic stable coin will supercede Bitcoin as the world's reserve cryptocurrency, and at this point there will be no use for Bitcoin other than speculation - which can easily be achieved with any number of other cryptocurrencies.

An algorithmic stable coin is not like Tether, which is a fiat-collaterally-backed stable coin. It runs without human intervention, and without the need for any kind of fiat or crypto to be held in reserve against the tokens issued. This would allow it to rapidly expand its supply without the constriction of needing there to be enough fiat/crypto to back every token produced.

This might not seem like a big deal - after all, Tether is currently the most traded crypto today and it is (apparently) fully backed by USD. But the total value stored in crypto today compared to the total value stored in fiat is a tiny, tiny fraction. Even Tether getting to this point has been complicated, with numerous scandals and problems. Getting to the point of becoming the a viable replacement for fiat would be almost impossible.

So in conclusion, an algorithmic stable coin could also be a serious threat to Bitcoin, and while Bitcoin may not hit zero as a result of being made semi-obselete by one, it would create a huge dent in its value and importance.

 

[alonelywriter]

Not in recent time.. NO

 

[HelenRyan]

You're on your own here. Nobody here will give you guarantees, only speculations.
What I like about bitcoin, is that it actually IS BEING USED.

 

[Deleted member 15724]

Just look at the price history, and you'll get your answer. Only invest what you're willing to lose.

 

[JonasGreyHound]

I persoanlly find bitcoin too risky. I prefer stocks.

 

[xKINGx]

I do also prefer stocks, have you looked up bitcoins stocks ?

 

[VersaceVersace]

It will.

you see, bitcoin was meant to be the opposite of the current banking system.. but in reality all that happened was a wealth transfer lol. The same people that were mad at the big bankers ended up with huge bags of btc and now they are the big bankers in the crypto space. It’s all bullshit but as an investment I’m all for it and made a nice penny over the years. But it’s gonna collapse for sure. Btc doesn’t solve any problems whatsoever and it’s a pain in the ass to do business with.

 

[Deleted member 1333509]

Btc doesn’t solve any problems whatsoever

1. Global remittance directly from family member to another family member in another country without the need for using a middleman (banks, WU) who charge high fees and can take days to process transactions.

2. The people of Venezuela, and before them Cyprus, who were able to transfer their money into Bitcoin in order to avoid the huge losses in value of their currencies during each financial crisis.

3. Targeted oganisations in authoritarian countries that had previously not been able to easily receive funding because of the need to either transfer huge amounts of cash money into their country from other countries covertly, or having to use the financial system of their country, which was ultimately controlled by their governments.

4. People wanting to sell goods and services that are illegal without being sent to jail for 20 years.

5. People that were unable to invest into stocks because of the regulations imposed by the SEC and CFTC requiring investors to be accredited and needing to have a provable amount of wealth before being allowed to sit at the table with the big boys. Anyone can buy, sell and profit from Bitcoin (crypto) as they please.

There are more, but you get the point. Worth learning about what you're talking about. Not one of these examples was solved prior to Bitcoin being used.

it’s a pain in the ass to do business with

1. Go to any number of websites allowing you to buy Bitcoin with a credit card, create an account. Alternatively create an account at LocalBitcoins.

2. Buy Bitcoin - either by entering a credit card, or on LocalBitcoins by making a normal bank transfer.

3. Then get a public key from the person you want to pay. Copy it to your clipboard

4. Select "Entire amount" as the amount, and paste the public key into the field that says "Address".

5. Click the button that says "Submit".

Easier than having to go to a bank and withdraw $10,000 in cash, involving unnecessary risk and the time it takes to go to the bank and back. Also easier than having to wait a few days for a bank transfer to clear, or having to pay up to 5% of the transaction amount like you do when you use Paypal.

 

[PinguSpy]

Too big too fall.

 

[942-1]

Yes.
In fact I would go as far as saying it will be made more or less obsolete before they're even completely mined. It's just too slow for a digitalized payment system to go mainstream. It's unreliable and the way the ledge works is unsafe. I think it's only a matter of time before a more advanced distributed network with better utility replaces it.

 

[albertmoralis]

1.2.3 ...........some guy here will do shit post to brainwash people to buy the shitcoin he is holding

 

[belg]

Is it possible that bitcoin can ever collapse and my investment going down the drain?

Yes.

 

[HustleTong]

It should work when you focus on dip intervals