Bitcoin Forum

New here.  Do you think the price of Bitcoins will go back down to $5.00?

Given enough time.. What goes up must come down. But not any time soon.

I highly doubt. But the $5.00 will be worth less and less as time goes!

Not anytime soon.

Simple; never ever!

If Bitcoins ever crash that severely, they will become worthless. But with tens of millions of dollars being invested in ASICs, which only work for Bitcoins(*), it is hard to imagine such a drop in value.


* Sure, some alt-coins as well, but they are no better than Bitcoin.

No it wont, the price will fluctuate but doubtfully will it drop below $90.

I dont think it wil ever get as low as that.

I wish it would though as ive just sent some $ to virwox in order to change to btc to buy some mining equipment.

Hopefully it will continue to go down over the next few days so that when my bank transfer goes through ill be able to get more btc for my $.

Not anytime soon.

it was not that long ago it was under $20.......given all the interest and media coverage i think around $50 would be the floor these days, bitcoin really needs more infastructure set up around it.....I am trying to do my bit my spending bitcoins in as many places as i possibly can, spent quite a few on random stuff, it's also time for a new laptop, anybody know who ships PC's internationally for BTC. I'm in Australia, so it is one situation where it would be really helpful, because Lenovo Australia charge at least 50% more for Aussie customers, and setting up mail forwarding is a pain in the ass, done it before but buying with BTC would be WAY easier 

https://www.bitcoinstore.com/

naa, probably it will fluctuate around $100 for a year or so, till it gets more midia attention

I seriously doubt it.

The cost of making a basic living has rocketed.
The increases in salaries has dropped.
Interest rates.... well enough said.

Basically, to work for the same company for 10 years, now costs you to work there.

Solution is to have a "real" currency based on freedom.

So I believe it will only go up. Perhaps not jump in leaps and bounds, but really grow.

my 2c.  :)

Not a chance. There's too much money in bit coin now. Before it even got close to $5 people would snap it up

There've been tons of premature obituaries written for Bitcoin almost every time there's a significant crash. I don't think Bitcoin will die within the next decade.

No Way!.........unless sha256 is compromised.

I think it will go down to 5 cents.   Goodness the number of such prediction threads here :(

If this really happen, the miners will colapsing and they may cant make ROI... but Im going to buy alot of it :p

No, I do not.

It really is a matter of supply/demand on it; Keep up the interest on it with media press, etc.. the herd will come.

Best regards
Diogo

no it wont sorry ot say

not unless quantum computers are invented.......or someone has like 50million in btc and wants to kill the price for a single instant

Nope.
if it does, i for one willing to buy 1000 btc instantly!

Only if the bitcoin ecosystem becomes outdated

Not anytime soon

Only if Bitcoin fails

It's not a problem if sha256 is broken, and this was already said by Satoshi, so it's just a matter of changing algo.

well... feel free to sell your btc for $5 ea to me. :D

No way thay can't drop so far... Millions of dollars have been invested in Bitcoin so far, i just can't imagine it dropping it so low

1mBTC for $5 in the future, sure

Doesn't seem to work with the price of petrol & diesel though.

I expect rather the price to be higher and higher  :)
Too much money inested in this biz, too much greed etc they won't let the price to fall.
The better question: when it will reach 1000$  8)

$5.00 is too low to be a predictable floor in the near future.

As I see it, the value will continue to rise, albeit nowhere near its current rate. Cryptocurrencies and mining don't yield themselves to a low floor as the rate of resources for which to generate them is not a constant. That is, in a traditional market with a job, you can't linearly or exponentially increase the rate at which you earn money without significant overhead input, and even that is discretized into steps. With cryptos and the notion of mining, one can easily take his earnings and use it for more processing power to increase the rate and return at which he makes income. Plot it on a graph; it's an exponential relationship.

With a whole miniature "gold rush" mentality built around that, it means there will be no point in the forseeable future where prices are again going to be reasonable, short of everyone jumping ship to some other medium. They tried to curtail this concept with LTC and currencies built on highly memory-intensive algs (for which designing FPGA fabrics is difficult and cost-effective ASICs even more so), but should they catch on (which I stand to think will, when every person with dollar signs in their eyes realizes BTC as a millionaire tactic is beating a dead horse), workarounds and systems to defeat those measures will be created.

One has to remember there was a time when FPGA use in BTC was probably comparatively unheard of, but as people started to look for quicker routes, resourceful people sprung up to exploit that. Where there is a will there is a way, but uncontrolled currencies combined with intrinsic human nature don't yield long-term profitable results. It is quite possible the price will eventually stabilize at a more reasonable value, but don't ever expect LTC-esque prices in the BTC markets.

Entirely possible it will go to zero. Everybody talks about the big threats to bitcoin are the 51% attack etc. They assume it will be some technological attack.

The greatest threat is financial. Global banks have no trouble inflating bubbles in housing, commodities etc and then making billions when the bubble they manufacture bursts. Banks etc have a vested interested in destroying bitcoin - and no doubt they'd like to make a load of money when they do it.

You can be assured there are 1000's of speculators and financial experts around the world trying to engine a massive bitcoin bubble. They could quite easily explode the bubble and leave bitcoins worthless.

This is their day job. There are not enough financial experts in bitcoin community to see an attack of this nature coming.

Bitcoin people are so techy, they are all prepared to take on a technical attack on the bitcoin network. That's not how it will happen.

It's like a seige, where the villagers are powerfully guarding the gates to the city. Meanwhile, the attackers are stealthily entering the city through the underground tunnels. They surround the villagers on both sides and crush them with ease.

Likewise, the value of bitcoin will be destroyed before the techy people even know what happened.

This is the biggest threat to bitcoin and could lead them to be worth zero. People who say otherwise are probably invested in bitcoin, techy and hate to believe they could lose everything they've invested.

Happens all the time in the stock market, housing bubbles etc.

You can be sure some group somewhere is planning as we speak to do this to bitcoin.

See how much the price spiked during the Cyprus crisis? A massive investment in bitcoin to pump the price really high, then an even bigger dumping of stock would destroy bitcoin and make them worthless. As no one know who owns bitcoins, they could be passing into the hands of financiers in massive numbers as we speak. Even if the banks lost a few million (which they probably wouldn't), it would be money well spent for them to blow bitcoin out of the water.

cave canem

Only if bitcoin is dying.

Not in the next few years, no.

No it is impossible

yes probably in the next couple of hours, day max. hold tight buddy you will get your cheep coins by this time tomorrow. and if it doesnt then just keep waiting till it does. of corse ill be all in and watching it go to 480 but thats just me and im dumb. you are smart for waiting for it to go to 5.  ::)

I think as long as there is people who accept BTC as payment, the value of BTC will not fall below the cost of mining it (similar to gold).

I learned a little while back how relevent this is to BTC: 

never say never and always avoid always

I hope so, i can't afford the investment right now :(

+1

But realistically I doubt it

I dont think we will see single digit this year

Not in the near future.

still going up

what goes up must come down

Not a chance. If it does crash that much, nobody will be using it anymore, because nobody will be accepting it anymore. IMO the reason it's got so much value right now are the black market sites, but I could be wrong there.

I agree with this. This is also why I don't think it can fail. With legitimate users of bitcoins, if it crashes we can go back to fiat. With SR and similar sites, they can't start accepting credit cards so they need BTC. Even if BTC goes all the way down to $5 it will still be used by these sites. So long as it holds any value (which it will, it's not going anywhere) it will be used.

no I don't think so its happen again in single degit in near future

No...well maybe in a thousand years...

I hope not! That would mean that bitcoin failed as a deflationary currency.

No BTC price will not go down to $5.00 again.

No, not such a drastic amount.

It could eventually go down to $5 if governments police it more and put limitations on the exchanges, gambling sites, etc. that drive interest. Eventually the novelty would wear off if that happened, and the costs would outweigh the advantages. 

Probably not, but never say never

No way back
BTC will rise to 200USD for thre end of this year

The price can easily go down. It can by because of politics and economical issues. Governments can just ban the major currency exchangers and if you add up a huge decline in global markets (which usually means everyone is rushing back to USD) this is very very possible.

And we have seen it before when the price was around $45 and went back to $2.

It was bubble, now 100 is stable

It's pretty much impossible, Even if countries start to ban it,  all that seems to do is get more publicity for BTC and the others.  BTC is woven into the internet now and it's only a matter of time before it takes over from paypal as the chosen method of payment!

It has so many advantages over other forms of payment! It's not perfect but it really does hold it's value well.  The price will level out now and fluctuate on the next round of asics. The 6000GHS cards will hit the streets in Jan ;)  if BFL are on time :D

This will cause the price to drop but it will soon recover!   but as for $5 ....  it's never going to happen.  Ever !

just my 0.02BTC

Now that I think about it, it may actually be possible for such a drop to occur. Whether it is on the magnitude of to $5 is impossible to tell.

As I've said before, one of the major things driving bitcoin prices through the roof is the massive amount of flocking to it because of everyone using it as a get-rich-quick sort of method. We're already at the diff where 1TH/s capability has ceased to make you a millionaire in terms of yearly income, and the difficulty itself is increasing astronomically...and quickly at that. Once all those people who have come into the bitcoin world realize it's no longer economical to mine BTC and it won't generate a ROI in a reasonable ( < 1 year ) timeframe, I bet you they'll walk out.

While those people probably do not have network-leading hashrates, there is a staggering amount of them. Once that point occurs, I think we'll see a local floor in terms of bitcoin prices. It may be a $1.00 drop, or it may be a $100 drop. It all depends on how many people leave the network, where the prices were and what the conditions were at the time, and in what proximity everyone was to another.

Is it going to be significant? Yes.
Is it going to be drastic financially? It remains to be seen.
Will it happen? Face it, most likely.

I think we will see 20-30 before this bubble has bottomed out. Then $2k+ !!!

 :D

Price will go down but not to $5

i don't think so
Bitcoin prices will go lower but not 5 dollar each :/

5$ I would buy'em all  ::)

Those days are long gone.......

Give me $1000

No

Nope!

Given enought time, for sure

Without time limitations, Im sure it will someday

It won't go under 50 usd I think because everyone would want to buy BTC at that price.

No, too many people would be buying them at a higher amount for that to ever happen. Unless every government started hanging people for having any bitcoins. Even then they might have some sort of appeal to certain people to keep them above that price.

Surely not lower than 120 $

20 is too low, but 30 is possible, but would be hard to go that down I think

Any analyse behind this, or just your pick ?  ;)

30 usd is a support. It was the top of the first bubble

I hope so, I desperately need BTC now

no

I read an interesting quote from an economist saying that if bitcoin wants to survive, the relative value of btc to physical currencies has to keep going up - or else why would you bother holding onto bitcoins?

Yes

Analogue question for our expert economist: I wonder why there are people holding fiat then  ???

I think goldcoin will replace bitcoin soon.

Bitcoin will be 5$ in 40 days.

And you sir are a Moron.

Considering the amount which has been invested in Bitcoin, I would have to go with no.



- At least not any time soon. With the recent mining companies offering ASIC etc, a lot of FIAT currencies where cashed into Bitcoins, meaning after a while the Bitcoin price raised. If this continues to happen I can see the price to keep moving upwards. There will be drops from time to time, we might hit $20-60, but I think it should rise again as long as there's a demand for it.

funny guys here

No: at least not in short/medium-term.
-Large Hashpower (Security), large community (knowledge and buzz), lots of devs (tools).
-Crypto-currencies are not virtual as the network is made from real hardware.
-Bitcoin is very reliable and autonomous especially in bankrupt country (See Argentina or Cyprus case, where even tech-nt-friendly adopt it and felt the availability and the reliability of bitcoin).

Long story short.... No.

Still not sure why I responded to this stupid post. Maybe cuz I'm still on newbie lockdown... Get me out of here!

Yeah I hope not.  If it goes to 1000$,  I will buy a house.

Not anytime soon.

 ;D
No, he just promote his crappy coin

No. Look at the attention crypto is getting even in mainstream media these days. Allright, some of it tries to smear its name along the lines of "you can use it for bad things", but they usually just repeat the same strawman arguments, which do not hold if one looks at them for more than 3 seconds.

I would claim that the world will start to use cryptos (BTC mostly) more and more over the coming time, simply because of the ease of which is can be transferred, combined with the security of the transfers themselves. Imagine transferring 100 USD to your nephew in Australia through conventional means. First of all there is the time aspect of it, then the costs. Now compare that to let's say transferring 1 BTC to his BTC wallet. Ok, there will be slight delays when converting to FIAT, but still , considerably cheaper and faster at the moment. This will probably be even faster once the machinery gets going.

Germany has suggested taxing "speculation" in cryptos, along the lines of stock market trading (if I am not completely mistaken), which I also consider a positive. It means they will try to embrace it instead of fight against it (i.e. the subpoenas in New York etc).

i want a coin, called crappy coin! or a coin, where only 1 is existing  ;D

NO, look at the steady rise lately  ;)

no in near future its going near this

Depends on how practical we (we as in the community) can make it.

The easier payments are made the more people will accept it and the more it will be worth. Only if we don't see some instant methods within a year or two, like visa and mastercard, then we will see a crash. But the way things are accellerating, developing and people are invested I don't think there is a too big risk.

Current difficulty race simply deny such scenario.
It seems, the price should rise, if market will be flooded by asic
- everyone with asic hardware will not ROI, so the price is suspected to compensate it,
maybe in long period.

No... I don't think so...

Actually it's both
Advertising scamcoins in newbies forum should lead to instaban

1 mBTC = $5 soon ::)

If 1 mBTC = $5, then 1 btc = 5 000 usd. We are far from that.

No way

If something new, much better comes it might just.

I would love to see the price fall to $5 per btc, would bulk buy a few thousand of them :-)


That's the whole point, when people buy the price goes up, just not sure why the price goes down though - when people sell somebody must be buying them.

Maybe because sometimess there are more sells than buys ??? When more sellers than buyers, sellers have to decrease the price they are willing to sell if they hurry to get USD

I can think of several situations in which the price of bitcoins could fall to $5.

1. Some sort of irreconcilable software bug. This sort of thing has happened before such as in the March 2013 chain fork and in August 2010, when a transaction was crafted to instantly allow for the creation of 184 billion bitcoins (see https://bitcointalk.org/index.php?topic=823.0). Both of these incidents were able to be resolved with the assistance of miners to revert the blockchain. Recently, there's also been the issue with bitcoins being stolen from android wallets due to faulty seeding of the PRNG. If incidents like this happen often enough or if one major incident occurs, the value of bitcoin will surely drop.

2. A flaw is found in the bitcoin protocol, or one of the cryptographic methods it relies on. If someone completely breaks ECDSA or SHA256 overnight, bitcoin will become worthless. This is quite unlikely though, and would have implications far beyond just bitcoin.

3. Major governments could outlaw the use of bitcoin. The main sites for bitcoin-fiat exchange (think mtgox, coinbase, bitstamp, campbx) could be taken down. Retailers could be legally prohibited from accepting bitcoins. Very quickly, the value of bitcoin would plummet.

4. Someone (most likely a nation state) performs a 51% attack on the bitcoin network.

Basically, something drastic would have to happen for the value to fall to $5. To be honest, it's easier to imagine bitcoins dropping to $0 rather than dropping to $5, at least in the short term.

Its tough to restrict freedom. Why are still torrents available and not banned by law, where anybody can get practically every software for free without any risk?

we hope it will not drop

1 BTC = $5 would put the money supply below 100M USD. I'd think the community would not let it go so low!

no i didn't think so  :o

+1
Unless something unexpecting bad happens...

its simply supply/demand

if one couldnt care less about bitcoin anymore, the value would surely drop to $5

as of know, i highly doubt it  ::)

1BTC = 1BTC, and considering the dollar inflates nicely, $5.00 will mean nothing in 20-30 years. So yes, if bitcoin falls the price will be bellow $5.00

Everything can happen but with the hype on bitcoins right now the fall to 5$ would take a few years in my opinion.
People investing really hard on bitcoins. Might drop big but to 1/25 of its value is pretty unlikely!

Well I believe if the drop happens, it will be very quick instead...

A large drop will only really happen if for some reason we get a bubble and it bursts, and even then if history is anything to go by it won't drop to anywhere near $5.

No. But anything is possible.

When it gets proved NSA can redeem any private key from any address, we will see under $1 very fast :D

No I don't think this will happen in near future  :)

But it will happen eventually if we wait long enought

 It will never happen , I mean with all this people saying ' I would buy a bunch of it if it did' the price will never go back that much , not for hundreds of years. Inflation on the other hand is something else . So basically yes it wont be 5 dollars , but it will be something worth of 5 dollars today. Like you can buy a 12 pack coca cola with 5 dollars now? you will be able to buy that with 1 coin but it will be somethign like 50 dollars due to inflation.

This. I believe the OP mean value of 5 dollars today.

Never say never.

Bieber ruined it for me :)

Yeah I highly doubt it will get to $5.00... at least while we still use the internet and computers.

Given that the shutdown of Silk Road only dented the price of bitcoin for ~12 hours,  what do people think it will take for the bitcoin price to drop significantly?  A prominent government coming out aggressively against bitcoin?

Nope, not going to happen... Maybe it will go under 90 usd but probably nothing less...

No I don't think its happen nothing is impossible but its very difficult this will happen

Hmm, i´ll bite.
Whats the inherent value of Bitcoin?
I mean, even something like gold has a value for things aside jewelry, e.g. electrical contacts, basicly every pc has a small amount of gold in it.
Bitcoin can only be used as a medium to conduct a trade, nothing else. Only an electronic one at that. And it takes a while till the payment is confirmed.
So basicly, whats the incentive to use Bitcoin as a payment method instead of, say, Paypal?4

Given sufficient time it will hit any real number :)

Never!!! But if it does I would panic and sell all my Bitcoin and regret later.

It's possible: If the US$ enters hyperinflation and is then readjusted to represent $ 1 = 1 ounce of gold.

But this isn't likely to happen... ;D

The inherent value right now for Bitcoin is quite high. But few years back its really cheap, I would say cheaper then fiats paper.

I'll pose a scenario. Keep in mind this is speculative; it may never happen, that's not to say it can't, and it's not to say there aren't other routes for which this can happen.

As many of you know, supply and demand are proportionate concepts. One creates the other. A void in one creates a void in another.

If you've studied history, you know that the Wall Street crash that caused the Great Depression was caused by investor speculation that a mass stock drop would occur; they inadvertently caused it.

Bitcoin could go the same route, although by a different impetus.

As we all know, the difficulty is skyrocketing to the point of mining being absolutely inconceivable except by those with IMMENSE power.
There COULD (not saying will) be a point where the difficulty increase becomes so much in a single period, that it causes a significant amount of people to say "fuck this, I'm out". Those people may sell off their BTC, which if enough people decide to do so, will create a size-dependent drop in the value of BTC at that moment. At that point, the sell point is mainly at the mercy of the domino effect - if that drop puts enough of a fear of God into people that the value will free-fall, they'll do the same, and create a situation that if not curtailed by holders that recognize it, is much like a steamroller going down a steep hill with a faulty Jake brake.

It's unlikely and almost inconceivable to get to $5, though, because the main benefit of having a large, distributed network is that it takes a sizable amount of people to sell out to drop the value. This is inertia of a stock. You can better believe for the number of people panicking and selling off there will be an equal or greater number of people holding on to it, and that's why I can only see it dropping 50%, maybe 75% at max, in true market free-fall conditions.

I believe drop to $5.00 could only happen if anti-bitcoins laws are approved because of fear of laundering money. Bitcoin would still be used but there would be almost no demand and extensive supply thats why such low USD/BTC

I think the long term trend shows very hard support at slightly < 100 USD levels. On a volatile enough crash (and from the looks of this rally, which I think will go much higher, that may indeed happen), I think 90-150 USD is a good guess for the hard bottom.

Nobody know who is exactly buying the largest share of coins these days, there are market controllers in every trade. Price can certainly drop below $100 if any of those biggies kicks into action.

Crash Down To $5.00 is not likely, Down To $100.00 possible but many have ready USD to buy cheap around $100.00 in case a big crash happens

They are better in the sense that they didn't award disproportionate wealth to the early adopters.

Bitcoin is like canadian currency in that the land barons who claimed this country started out with huge quantities of the currency by virtue of there being no one competing with them (claiming land as their own vs mining bitcoins before it was a thing)  and the activity being almost effortless (saying its my land and I'll kill you if you don't like that vs mining with difficulty of 1).

The result is a Lorenz curve for bitcoin that makes the US look equitable.

Even that wouldn't happen in most universes. Knowing how resilient us Americans are about making our money, you'd watch the American BTC culture suddenly endorse the Euro. Suddenly every teenager who's ever mined would be reading the WSJ Forex sections.

Gawd I hope not, at least not until I sell mine off.

I don't think so. With the value of it right now closing in on $500, a reduction of say even 50% will cause an influx of BTC buying. I know if it dropped again I would be contributing to the surplus in buying at that price. I think we're past the point where to is too much demand from those who currently are invested in BTC and those new mainstream buyers who are entering the market.

Of course it will...probably numerous times when some idiots try and speculate in it's like any other currency.

Yes.

But you can get out before the crash, and limit your losses.  I'll give you twice that for whatever you have.  $10 each, limited time offer.

Ahah, yes +1.

Unless it becomes even more unmainstream; I don't know how that's possible. Maybe never ever again.

I highly doubt it ever will! Maybe one day :P

maybe....maybe not. Cannot really tell at the moment.

With a limited cap on the amount of BitCoin's available, it may reach a point where it tops off as people decide to invest into other bitcoin like currencies.

I really love how people like to pull random numbers from their ass to look smart

I sure hope so :P

if mike hearn and the bitcoinfoundation and the us are setting their plans of green bitcoins....bitcoin will die faster than it grew!

Yes, history will repeat.....

5 bucks? No, not anytime soon.

Down to $5.00 not anytime soon, but given enought time, anything can happen...

It will happen. But, hopefully not anytime soon.

Nope, there are downside risks but the floor is significantly higher than five bucks

The volatility of bitcoin is its biggest strength because this it keeps all the scumbag speculators away once they get burned enough times.  People seem to forget that greed trumps rational thinking most of the time...just look at the last housing crisis.

Corporations, banks and governments don't want to stop bitcoin since they stand the most to gain from it...where do you think a big portion of the criminal element that uses bitcoin go to work every day?  At the end of the day, bitcoin is a godsend to the folks out there running the show....gives them one more level of smoke and mirrors to work with.

Just my 2 cents.

I expect Bitcoin to never even reach 200$ per coin again.