What will happen if Bitcoin reach 1 USD exchange rate?

[jacktheking]

What do you think will happen if Bitcoin reach 1 USD exchange rate? Will there be more people joining in to get some cheap Bitcoin? Or will they be a big dump and drop in volume? I personally think that if one day Bitcoin reach 1 USD per Bitcoin it will be the headlines on many newspaper. It will attract lot of attention and more people will buy Bitcoin online while it's cheap.

[1714053160]

1714053160

[jonald_fyookball]

What do you think will happen if Bitcoin reach 1 USD exchange rate? Will there be more people joining in to get some cheap Bitcoin? Or will they be a big dump and drop in volume? I personally think that if one day Bitcoin reach 1 USD per Bitcoin it will be the headlines on many newspaper. It will attract lot of attention and more people will buy Bitcoin online while it's cheap.

You're basically saying, what if Bitcoin loses 99%+ of its value.  That's not going to happen
unless some unforeseen extreme scenario renders it almost worthless.  If that occurs,
few people are going to be looking to buy it cheap.

[xhomerx10]

It wouldn't even get to a dollar before people stopped mining which would result in extremely long (possibly infinite) confirmation times and that would most likely be the end of bitcoin.

[Andy4.4]

First of all, it will never reach $1 back.
If it reach that level then I will buy a 1000 bitcoins and buy more if it goes more less.

[n2004al]

For sure it will be a very disappointment in every bitcoin enthusiast. There it will be a very big panic and no one (or at least very few people: only the most fanatics) will believe that the bitcoin will arrive high levels of importance or price again. The people will sell its bitcoin like trash and those who will by will be rich. Because even if bitcoin will go 1 USD (thing which will never will happen) in a short future will see again its real value: the future of technology and a great concurrent of the real currency.

[Coins168]

this happens to regular currency that we use and im not going to be surprissed if this happens to bitcoins. we just dont know what exactly will be the cause of losing its value.

[jacktheking]

It wouldn't even get to a dollar before people stopped mining which would result in extremely long (possibly infinite) confirmation times and that would most likely be the end of bitcoin.

Somewhat agree with you. What a question I came out... I'm just interested to know how many people is looking for buy cheap Bitcoin.

For sure it will be a very disappointment in every bitcoin enthusiast. There it will be a very big panic and no one (or at least very few people: only the most fanatics) will believe that the bitcoin will arrive high levels of importance or price again. The people will sell its bitcoin like trash and those who will by will be rich. Because even if bitcoin will go 1 USD (thing which will never will happen) in a short future will see again its real value: the future of technology and a great concurrent of the real currency.

What will you do when Bitcoin price reach the bottom? Will you be one of the panic sellers or "happy" buyers?

[harrymmmm]

Two scenarios; one fast, one slow:
Fast:
This would mean something disastrous happened, probably a protocol failure that looked like it couldn't be fixed. Before it hit bottom, I'd be trying to decide if it could actually be fixed. Buying like crazy if I thought the majority were just panicking.  If it really couldn't be fixed, I'd probably be too late to get anything for my coins.

Slow:
On the way down, many miners would stop. Difficulty would be too high and confirmations would be very slow, making people panic I think. Tbh, I don't see a very plausible cause for this scenario, so I'm pretty sure I'd be seeing it all as a panic, and buying like crazy.

[Za1n]

So if it did drop to $1, what would stop it from going lower, why not 1 cent? At that price, 21 million cents, or $210,000 would buy up every possible BTC. At any rate it would become totally worthless as who would want back in once one or two whales controlled all the BTC and everyone else left beaten and broke.

I don't know what the absolute bottom would be of a big sell off, but I would think It would start to get some heavy support as it neared $100 and would have a hard time dropping much below that as buyers would only start to increase exponentially.

[LiteCoinGuy]

1$ is only possible after a major bug was found that cant be repaired - bitcoin would be nearly dead then.

i guess only the hardcore people would stay here and would start from scratch.

[Brad Harrison]

I would buy a ton of it

[coinableS]

I would buy a ton of it

This ^  and so would many others, which would cause the price to rise right back up. So the answer is it won't ever go to 1 USD unless something came out or happened that completely destroyed bitcoin and it's credibility.

[lottery248]

the only possibility of leading the bitcoin into $1, is to activate the 51% attacks.
in that case, people would lose major reliability of bitcoin, and sell all of them.
well, i would stop using bitcoin in the 51% attack case, but even if bitcoin went down into $1, i would still using bitcoin, i believe the miracle.

[lite]

We would never see Bitcoin that cheap lol.. Only active Bitcoiners will take advantage if price really goes that low.

[ikydesu]

This is will not happens.
I think now demand is growth than supply so the price is will not fall, it will to the moon.

[monsanto]

I actually think it could reach $1. It's not likely, but it's not completely implausible. We don't even really know who Satoshi is. Lets say Satoshi, or someone who got a hold of his coins, dumped all at once. It would clear out the order books and then some.

[tadakaluri]

There must be thousands of Suicides worldwide

[Kprawn]

Let's consider this....

Bitcoin is still a rather scares commodity, and if it lost that much value, you would still have loads of people, who would hold onto it for :

1. Sentiment
2. Collectors item
3. Hoarding in the hope that it would bounce back again.
4. Trading value
5. People keeping it, to make a point.

I doubt that it would ever drop that low, but I simply do not care, if it does. I already bought great things with it, and I learned a great deal from it,

and I took part in one of the greatest disruptive technologies in my life time. {It's like Woodstock.... We were there, when it happened.}

[timothythomas]

i am pretty sure this is not going to happen but , yea if it did ever people will for sure step in to buy it in bulk and hence getting the price back up ..

[TheButterZone]

I buy at least 1000.