It is important to note that a coins value is deeply connected to the current Total SupplyAvailable and the Demand for that coin.
In the scenario in which STEEM hits around $0.00, that just basically means only a few people wants to own it or there is just too much supply with less demand for it. Take Dogecoin as an example, currently it's price value is at $0.005728 (mostly because it has over 100 times more supply than STEEM). But is still rank #20 in terms of Market Capitalization.
As long as there are people left who wants to own a piece of STEEM, it will totally never be out of value. A hypothetical $0.001price still has a chance to increase ten-fold in just a month.
For reference: Steem's price from a year ago was only at $0.07 and it managed to increased 100 times more with it's current market price now.
When the price of steem reaches 0.00$ it means that steem no longer has value and it means it is not worth investing on it and that would mean that the market will be empty...
I don't believe it's possible to put buy or sell orders at 0, so this is not something that will happen, but it can hit the lowest possible unit. But realistically, at that point people would have abandoned the token completely. You'd have plenty of accounts holding significant amounts of STEEM that are worth nothing because nobody values it. But think about what this means. It means the blockchain itself would not be operating at all due to inactivity. By this time, none of the websites interacting with the chain would exist. The only way to tell what used to be there is through snapshots through the wayback machine or if some fellow stores a copy of the now-defunct blockchain data.
That's what it effectively would mean for STEEM to "disappear", forget about price.
It's also interesting to speculate what events would have conspired to get to that point. We already know another platform that went through such a nose-dive and is near the point of being shuttered: it is called bitconnect. As long as there's some amount of believers, it can maintain a very low price and low activity. But at that point, people have moved onto other platforms that stand a better chance at persisting and being used in the world. And we have others that are completely dead. No nodes operating.
Not sure if this answers your question, but that's what it'll be like. If it gets to these situations, barring some miracle the platform will effectively be dead.
We can also talk about how the debt ratio would bend as it nose dives, but this probably isn't so important to the question other than it being fun to think about.
I don't think such can happen but if it does, it will surely rise back again. An ubiquitous nature of every cryptocurrency is their erratic character which means they can rise and fall unexpectedly. But I haven't noticed or heard about consistent cryptos falling down to $0.00.
The more the activities in the Blockchain either by investing or developing the blockchain system, the more chances of developing the crypto value.
I don't think so it is possible , as long as there are stake holders who are invested heavily the whales and exchanges listing the coin ,there is no way the coin will reach zero value ,there is always some sort of centralisation that comes attached to a decentralised economy.
It is important to note that a coins value is deeply connected to the current Total Supply Available and the Demand for that coin.
In the scenario in which STEEM hits around $0.00, that just basically means only a few people wants to own it or there is just too much supply with less demand for it. Take Dogecoin as an example, currently it's price value is at $0.005728 (mostly because it has over 100 times more supply than STEEM). But is still rank #20 in terms of Market Capitalization.
As long as there are people left who wants to own a piece of STEEM, it will totally never be out of value. A hypothetical $0.001 price still has a chance to increase ten-fold in just a month.
For reference: Steem's price from a year ago was only at $0.07 and it managed to increased 100 times more with it's current market price now.
View this answer on Musing.io
When the price of steem reaches 0.00$ it means that steem no longer has value and it means it is not worth investing on it and that would mean that the market will be empty...
View this answer on Musing.io
View this answer on Musing.io
I don't believe it's possible to put buy or sell orders at 0, so this is not something that will happen, but it can hit the lowest possible unit. But realistically, at that point people would have abandoned the token completely. You'd have plenty of accounts holding significant amounts of STEEM that are worth nothing because nobody values it. But think about what this means. It means the blockchain itself would not be operating at all due to inactivity. By this time, none of the websites interacting with the chain would exist. The only way to tell what used to be there is through snapshots through the wayback machine or if some fellow stores a copy of the now-defunct blockchain data.
That's what it effectively would mean for STEEM to "disappear", forget about price.
It's also interesting to speculate what events would have conspired to get to that point. We already know another platform that went through such a nose-dive and is near the point of being shuttered: it is called bitconnect. As long as there's some amount of believers, it can maintain a very low price and low activity. But at that point, people have moved onto other platforms that stand a better chance at persisting and being used in the world. And we have others that are completely dead. No nodes operating.
Not sure if this answers your question, but that's what it'll be like. If it gets to these situations, barring some miracle the platform will effectively be dead.
We can also talk about how the debt ratio would bend as it nose dives, but this probably isn't so important to the question other than it being fun to think about.
It can never hit $0.00 but if it does, definitely it will start rising again with time
I don't think such can happen but if it does, it will surely rise back again. An ubiquitous nature of every cryptocurrency is their erratic character which means they can rise and fall unexpectedly. But I haven't noticed or heard about consistent cryptos falling down to $0.00.
The more the activities in the Blockchain either by investing or developing the blockchain system, the more chances of developing the crypto value.
Thanks for reading and I hope this helps.
I don't think so it is possible , as long as there are stake holders who are invested heavily the whales and exchanges listing the coin ,there is no way the coin will reach zero value ,there is always some sort of centralisation that comes attached to a decentralised economy.