Lot of questions:
If Cypto goes to zero, what exactly would be the fallout?
What about NFTs?
If the stock market drops 20%, what effect would that have on crypto?
I have a friend who says hes putting "30%" of his paycheck into BTC, made me think what would exactly happen for him if it goes to 0?
Comments (7)
Without being backed by anything, if it went to zero wouldn't the cause be that people lost faith in it as a store of value? What would be the catalyst to reverse that lost faith?
Ugh, people are still making these arguments? lmfao gives me deja vu back to those 2018 threads on crypto where countless "smart" and "qualified" guys embarrassed themselves on here. Get over it, dude. It's just another asset class. Stop overthinking things, I use to be like this and became happier just going with the current than try to feverishly out prove everyone else.
It's backed by the fact its provably scarce. Same reason why gold or a top minted baseball card has value.
A lot of people would have to move back to their mom's basement....but not a huge deal considering that most crypto investors were already living there two years ago.
If crypto goes to zero, people will lose 100% of their investment. The exact same as if any other investment goes to zero. Sounds like you're upset you missed out on >1000% gains YoY. Sad!
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