[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 32 KB, 720x540, toguro.jpg [View same] [iqdb] [saucenao] [google]
2365133 No.2365133 [Reply] [Original]

Under what conditions/scenarios would Bitcoin take an absolute nosedive in value? The only ones I can think of are international regulation and, more extremely, thermonuclear war. Can anything stop its growth?

>> No.2365197

>>2365133

You are forgetting a sustained coronal mass ejection and electromagnetic pulse, global viral pandemic, and more distantly, a nearby supernova yielding an intense gamma ray burst. Or large asteroid strike.

I think there are solutions for A and B but I'm afraid C and D will mean the death of Bitcoin.

>> No.2365393
File: 45 KB, 737x758, 1435429658233.jpg [View same] [iqdb] [saucenao] [google]
2365393

>>2365133

Easy, one of the major exchanges fails *cough* *polo* and people head for the exits only to find out liquidity is scarce.

I suspect Poloniex is already insolvent, hence their running the USDT scam and refusing to list BTC/USD and other fiat pairs.

It WILL happen later this year and most crypto net worth will evaporate.

>> No.2365417

>>2365393
anyone still holding crypto on polo is for a nasty surprise

>> No.2365511

>>2365393
Why would they be insolvent? How can they fuck this up? For every buyer there is a seller and they collect fees on both ends
Only by pulling a Gox that can happen

>> No.2365551

>>2365197
what if we take the Blockchain and laser it into a crystal

>> No.2365571

More likely than any serious disaster scenarios (World War 3) would be something like >>2365393
suggests... That's what caused the great crash of 2013 after all. MtGox devastated the crypto ecosystem for years.

Other than something like that I actually think most 'bad' things (including global war) could substantially increase the value of bitcoin.

>> No.2365593

I never realized how stupid biz was until this thread

>> No.2365801
File: 35 KB, 541x566, 1425618221936.jpg [View same] [iqdb] [saucenao] [google]
2365801

>>2365511
>Why would they be insolvent?

By not having enough assets/fiat to cover all of their clients withdrawals?

With the meteoric increase in BTC value, massive fortunes were made with no actual assets/liquidity backing them.

>> No.2365956

>>2365133
japan or chinas interest rates/ monetary policy improve and reverse the capital flight that makes up over 50% of crypto market cap

>> No.2366297

>>2365801
Wait, Polo had an actual "cash out" wire transfer style?
I thought it was exclusively tokens

>> No.2366497

>>2366297

A proper exchange should be able to convert your holdings to fiat and deposit them to your bank.

Polo is a fucking scam.