如果比特幣跌至零會發生什麼事？

加密貨幣的最後期限已經有好幾年了，比特幣的價值在 2009 年問世時為零，但在 2024 年 12 月達到了 10 萬美元以上，創下了歷史新高。

Cryptocurrency deadlines have been extended for several years now, and the value of Bitcoin, which was zero at its 2009 launch, reached a new all-time-high when it crossed the $100,000 mark in December 2024. This article explores the hypothetical scenario of what would happen to investors and global finance if the price of Bitcoin crashed to zero someday.

加密貨幣的截止日期現已延長數年，而比特幣的價值在 2009 年推出時為零，在 2024 年 12 月突破 10 萬美元大關時達到了歷史新高。幣的價格有一天跌至零，投資者和全球金融都會遭遇同樣的情況。

The Growth of the Crypto Market

加密貨幣市場的成長

The expansion of the crypto industry from its 2009 inception to the present continues to surprise many. According to CoinMarketCap, from only Bitcoin in 2009, there are now over 11,000 different digital assets with a total market capitalization of over $3.76 trillion as of January 2025. Over 100 million unique crypto wallets are currently holding these digital assets, a number that has trebled since 2018.

從 2009 年成立到現在，加密貨幣產業的擴張繼續令許多人感到驚訝。根據CoinMarketCap 的數據，從2009 年的比特幣，到2025 年1 月，現在有超過11,000 種不同的數位資產，總市值超過3.76 兆美元。資產，這個數字增加了兩倍自2018年以來。

Since it was introduced to the world by the mysterious Satoshi Nakamoto, Bitcoin, the first digital currency, has experienced a roller coaster ride, with the price fluctuating up and down due to external factors. Considering the volatile nature of the cryptocurrency market, where prices can move like a pendulum, it’s only natural that some people can speculate about the possibility of a total collapse of the global cryptosystem and the cost of Bitcoin crashing to zero. While this looks like a simple question, the answer requires a deep analysis of the context of the Bitcoin ecosystem to get an answer.   

比特幣作為第一個數位貨幣，自從神秘的中本聰向世人介紹以來，經歷了過山車之旅，價格受外界因素影響上下波動。考慮到加密貨幣市場的波動性，價格可以像鐘擺一樣波動，有些人自然會猜測全球加密系統全面崩潰的可能性以及比特幣成本跌至零的可能性。雖然這看起來是一個簡單的問題，但答案需要對比特幣生態系統的背景進行深入分析才能得到答案。

What Factors Drive the Value of Bitcoin?

哪些因素推動了比特幣的價值？

Unlike stablecoins that derive their value from tangible assets like the US dollar or gold reserves, the value of Bitcoin isn’t tied to any tangible asset, meaning you must understand the mechanics and factors that drive BTC and give it the value it has on the market. It appears that Bitcoin and other similar cryptocurrencies are vulnerable to significant price drops or hikes, which is why some people are afraid that it could someday crash in a matter of months or even days or minutes.

與從美元或黃金儲備等有形資產中獲取價值的穩定幣不同，比特幣的價值不與任何有形資產掛鉤，這意味著您必須了解驅動 BTC 的機制和因素，並賦予其價值。比特幣和其他類似的加密貨幣似乎很容易受到價格大幅下跌或上漲的影響，這就是為什麼有些人擔心它有一天可能會在幾個月甚至幾天或幾分鐘內崩盤。

The historical performance of Bitcoin and other cryptocurrencies over the last few years has proved that crypto is subject to volatility. Moreover, several factors have impacted crypto positively or negatively. For example, Donald Trump’s statement in June 2021 that Bitcoin was a scam, or Tesla CEO Elon Musk’s announcement in May the same year that the firm would no longer accept payment in Bitcoin had the crypto lose at least 55% of its value from $57,352.77 to a low of $31,397.31.

比特幣和其他加密貨幣過去幾年的歷史表現證明，加密貨幣容易波動。此外，有幾個因素對加密貨幣產生了正面或負面的影響。例如，唐納德·川普(Donald Trump) 在2021 年6 月聲明比特幣是一個騙局，或者特斯拉執行長馬斯克(Elon Musk) 同年5 月宣布，如果加密貨幣價值從57,352.77美元貶值至少55%，該公司將不再接受比特幣支付。

On the positive side, Bitcoin’s value rose again later that year and hit a record $64,863 when El Salvador became the first country to declare BTC a legal tender. Enter regulatory changes, and in 2022, the value dropped again after cryptocurrency exchange Binance froze withdrawals following the collapse of cryptocurrency exchange FTX, and the value dropped to November 2020 at a yearly low of $16,195.59. Fast forward to July 2024, and Donald Trump’s remarks during a campaign rally in Nashville supported Bitcoin, and the price surge began culminating in the record-breaking figure of $108,000 in December 2024.

從積極的一面來看，當薩爾瓦多成為第一個宣布 BTC 為法定貨幣的國家時，比特幣的價值在當年晚些時候再次上漲並達到創紀錄的 64,863 美元。進入監管變化，2022年，加密貨幣交易所Binance因加密貨幣交易所FTX崩盤而凍結提款後，價值再次下跌，價值跌至2020年11月的年度低點16,195.59美元。快進到 2024 年 7 月，唐納德·川普在納許維爾競選集會上的言論支持了比特幣，比特幣價格開始飆升，並於 2024 年 12 月達到破紀錄的 108,000 美元。

Can Bitcoin’s Price Really Crash to Zero?

比特幣價格真的會跌至零嗎？

In light of Bitcoin’s price fluctuating up and down due to external factors, it could reach a null state where the value of Bitcoin crashes to zero. While such an event isn’t likely to occur soon, we must investigate the factors that could hypothetically lead to Bitcoin becoming valueless.  So, technically speaking, the price of a cryptocurrency can crash to zero, as seen in the case of Terra Luna in 2022.

鑑於比特幣的價格因外部因素而上下波動，它可能會達到零狀態，即比特幣的價值跌至零。雖然這樣的事件不太可能很快發生，但我們必須調查可能導致比特幣變得毫無價值的因素。因此，從技術上講，加密貨幣的價格可能會跌至零，正如 2022 年 Terra Luna 的情況所示。

Some profound changes will need to occur for a digital asset as popular and valuable as Bitcoin to experience such a catastrophic drop in value. Some of the likely scenarios that could make it possible for the value of Bitcoin to crash to zero include the following:   

像比特幣這樣受歡迎且有價值的數位資產需要一些深刻的變化才能經歷如此災難性的價值下跌。可能導致比特幣價值跌至零的一些可能情況包括：

Lack of Intrinsic Value

缺乏內在價值

Some critics argue that Bitcoin doesn’t have an intrinsic value. They suggest that if the entire world deemed the digital asset valueless, the price would fall as holders struggle to sell it back into government-issued currencies or other valuable assets. However, note that an asset’s worth lies in the perception of those willing to pay for it. For the price of bitcoin to crash to zero, all crypto enthusiasts would need to believe it’s valueless.

一些批評者認為比特幣沒有內在價值。他們認為，如果全世界都認為數位資產毫無價值，那麼價格就會下跌，因為持有者很難賣回政府發行的貨幣或其他有價值的資產。然而，請注意，資產的價值取決於那些願意為其付費的人的看法。為了讓比特幣的價格跌至零，所有加密貨幣愛好者都需要相信它毫無價值。

Bitcoin Gets Banned

比特幣被禁止

The other scenario that could cause a catastrophic drop in Bitcoin’s value would be if all governments worldwide banned its use and made it illegal. Should it ever become illegal to own or use Bitcoin, the coin would lose most of its value in some countries. However, for the value of Bitcoin to crash to zero, governments worldwide would need to shut down mining activities worldwide. Only offline nodes of

另一種可能導致比特幣價值災難性下跌的情況是，如果全世界所有政府都禁止其使用並將其定為非法。如果擁有或使用比特幣成為非法，該貨幣在某些國家將失去大部分價值。然而，為了使比特幣的價值跌至零，世界各國政府需要關閉全球的採礦活動。僅離線節點