A Reddit user has promised that he will avert the catastrophe by buying as much as possible. Yesterday, user u/Substantial-Ad-5012 posted a thread on the r/Bitcoin subreddit entitled: “Bitcoin will never go to zero in my lifetime.” Why?
Because I am willing and able to buy all the bitcoin ever mined at 1 cent each. So the next time a bitcoin skeptic brings up the bitcoin going to zero argument just let them know that a random reddit guy on the internet said that he will not let that happen.
CoingGecko estimates that the total number of Bitcoins mined since the genesis block is approximately 18,678,862. In the extremely unlikely hypothesis that Bitcoin actually drops to USD 0.01, it would cost “only” $ 187,000 to buy every single coin in circulation, without considering that some say that 20% of all Bitcoins are inaccessible.
In recent years, several figures in the world of traditional finance have predicted the eventual failure of Bitcoin, including Peter Schiff. In 2020, investor Jim Rogers said he expects a future price of $ 0 per BTC. In 2018, Bill Harris, former CEO of PayPal, also predicted a $ 0 target. According to Pavel Kravchenko, CEO of Distributed Lab, Bitcoin could lose its value, even if his position is based on certain conditions.
Other factors that could lead to the total devaluation of Bitcoin’s price include attacks on the global power grid or the destruction of all technology on Earth. However, the asset has some protective measures in the event of apocalyptic disasters, including a satellite-based system that maintains the Bitcoin blockchain. Also recently some developers in Venezuela are working on exchanges on the Bitcoin blockchain via radio waves.
