Is Bitcoin Going to Zero?

And what it would take to get there

Dan Pena Bitcoin meme (source)

Will Bitcoin go to zero…?

A number of multi-millionaire investors think so.

These include:

• Peter Schiff
• John McAfee
• Dan Pena
• Mohnish Pabrai
• John Paulson

Schiff is a particularly vocal anti-Bitcoin evangelist. He regularly posts negatively about Bitcoin on his Twitter feed.

Why do people think it will go to zero…?

Common arguments are:

• It has no intrinsic value
• Governments will ban it and replace it with their own cryptocurrencies
• Bitcoin needs indefinite maintenance

Sometimes people don’t give a reason as to why Bitcoin will go to zero. They just state that it has no value, and claim some other asset (e.g. gold) should be bought instead.

Peter Schiff (professional Bitcoin hater)

What would it take for Bitcoin to go to zero?