Any journalist claiming this is possible is lying to you. They’re not stupid enough to actually believe this notion, they are not morons, they are trying to trick everyone. Make no mistake, corporate media and their controlling banks are terrified of Bitcoin. Its the end of their monopoly on currency and thereby everything.
So lets hash out this scenario. Somebody finds a way to crack Bitcoin’s encryption. Lets say they have the ability to manipulate wallets, change anybody’s wealth, and the means to do so is publicly available. Naturally the price plummets as people sell whatever they have and try to capture something from the dead duck. Eventually, the price drops to a point where its simply not worth the time to sell. If BTC was trading at say $1, it would not be worth my time to try and recoup a few dollars. Why would anyone bother?
But further than that. Take a look at that price prediction: $0. Bitcoin to be worth $0. The price on the exchanges is set by whatever the last purchase was made at. So if its $800 right now, that’s because the last person to buy BTC bought it at $800/per. Who is going to ‘buy’ BTC at $0, I doubt the software for the exchange websites couldn’t even process such a request. Where would this price of $0 be established then?
But OK, maybe they don’t mean literally 0. Fine. What is the prophesy then, that all these people with a stake in Bitcoin will just give it up and call it a day. The libertarians desperately trying to operate outside of government, criminal elements wanting to stay anonymous, free thinking individuals worried about the direction corporations are taking the world. . . I suppose we’ll all just give this up? Hahaha! Get real, Bitcoin isn’t going away because the community isn’t going away. And why won’t the community go away? Look around you! The world is gone to shit, tyrants rule and commit murder constantly. Millions die of starvation for no reason whatsoever, rights are almost non-existent, the oceans are nearly dead and there are way more disenfranchised people all the time.
I shudder to consider a future where p2p currency hasn’t taken over. Its not a matter of whether or not it will succeed and whether or not people are getting rich from speculation. If p2p currency doesn’t succeed, we’re all dead meat. I don’t care if you’re a well paid propagandist or not, get used to total authoritarian lock down by our banking masters. Now there’s delusion for you. Sure hope you don’t have kids, cause they’re gonna hate you- if they live long enough.
I don’t know, I want to provide a link. I know I’ve read this several places in the mainstream about Bitcoin going to zero and how I’m delusional (along with hundreds of thousands of other Bitcoin enthusiasts). Can’t find it. So sorry no links.