Quote:
Originally Posted by xQx
What could cause your BTC to go from $15,000 to $0 overnight? If someone finds a flaw in the encryption that lets them 'corrupt' the block-chain or steal or counterfeit BTC.
That's the risk you're taking having real money wrapped up in this bubble.
Otherwise, I'd say it's a bit like US Property in 2007. It might be worth half or a quarter of what it's trading for, but it does have some inherent value.
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That is what is always going to be a risk with any digital currency. It will be harder since it has to be verified by multiple ledgers and whatnot, but only a matter of time until someone finds something that create a hit to value. Even if Bitcoin or another coin doesn't go to 0 from that you have a legitimate chance to lose your investment with no recourse.
With US property, even if the market crashed completely there is value in the structure itself. With this currency there is not. If someone finds a major flaw and it loses the one benefits you mention (utility value, trust, cross currency exchange) it becomes worthless.