Bitcoin Forum

On October 3 the price of bitcoin touched $360, marking a low for 2014. The week before, venture capitalist Tim Draper – the winner of the giant government bitcoin auction that saw Draper come into possession of 0.25 percent of all BTC – went on Fox Business to dispel any fears that the ride was over. Well, not only that the ride wasn’t over. That it was just beginning.
In talking up the currency, he said “I am still predicting, Bitcoin, $10,000 in three years. It is a hedge against a lot of fiat currency, because it is a new way of transferring cash throughout the world in a much more efficient way. And Bitcoin has a created a whole infrastructure of many, many companies some of which came out of Boost the incubator. And those companies are creating this whole new culture, and this whole new way of thinking.”
It’s a lot of justification for the big headline: bitcoin will hit $10,000 in three years. Why would Draper say this? He certainly might believe bitcoin is going to be the future, to be sure.
But the reason he’s going on Fox Business to make this claim is because he has a sizable stake in it. He needs people to believe bitcoin will increase 30 times in value. Or people will lose interest and sell, and he’ll lose even more millions (in USD) than he already has – Draper bought in when bitcoin was worth almost twice as much, and is on the hook for roughly $9 million in losses in just four months.
This is not to point out the obvious, the Draper is a businessman and he needs his investment to make money. Rather, it raises a question indirectly that a lot of bitcoin diehards need to ask themselves: is there any price point that would cause you to pull your money out of bitcoin?
A lot of people, even ideologues invested in bitcoin as an entirely new paradigm that can upset the accepted fiat currency system, are simultaneously hoping to make a little money with their bitcoin stake. While they might not spend a lot of time thinking about price, the major players like Draper certainly care. As does a large swath of the market. Because there’s the possibility of BTC going to $10,000 in three years.
And there’s also the possibility of it going to $1. Many of bitcoin’s ideological adherents tend to hold no matter what. But does that mean there is literally no point from which to cut losses and sell out? What if bitcoin goes back to that penny trading range? What if it stays there for a year? For five years? How long will you buy and buy and buy at a continual loss? Until you die?
People like Draper can talk a big game, but they are beholden to their investors, same as any business. And make no mistake, Draper has a point where he will cut his losses and move on.
Bitcoin could go to $10,000 and stay there, though it’s highly unlikely. It could also go to five cents and stay there (also highly unlikely). But one way or another, bitcoin players need to answer the question: am I willing to go down with the ship even if Draper doesn’t?

- See more at: http://www.equities.com/editors-desk/currencies-forex/how-low-could-bitcoin-get-to-make-people-stop-believing#sthash.FB78KwkH.dpuf

Tell the inside traders to stop messing around with the price and you would get many non-believers coming back very quickly, when the price hits $1000 again.

It's only the price watchers, that turns non-believer, many of us, look at the possibilities the protocol offer and build your wealth around that.

If you derive income from millions of micro transactions, even at a low price, you still making millions. You could have made Billions at a better price, but then you would have simply, just been greedy.  ;D

Most people buy BTC wait a few months and expect a massive return. {When the price stay low, they get out, and flame the currency}

Look for opportunities to invest in business, where the upturn would eventually make you rich, and forget about short term gains.   

Believing in what? ... that Bitcoin works as advertised? FYI... Bitcoin works long as the price is greater than 0!!!!!
But at 0, it loses function to move value around easily... at which point someone will buy some up or it will go down in history as pehaps one of greatest inventions regarding currency this decade and past century by a small group of the only smart people left in this world. LOL...

Now matter how low the price is, there are always some persistent believers who are holding positive views of bitcoin.

One thing we do know for sure is eventually all fiat currencies go to 0 , I for one strongly believe Bitcoin will always be worth more than that =)

Not a matter of belief, it's a matter of how low does it need to get for businesses to notice that nobody is spending their devalued BTC anymore, and stop immediately converting to fiat (which devalues BTC with every market dump).

Will people still keep spending their BTC they bought for $1000 when the exchange rate drops to fucking $0.01? If so, why not just send it to 1BitcoinEaterAddressDontSendf59kuE right now?

For me... Bitcoin is just showing it's resilience... It's not a matter of price... Just utter gut to stay in the market.

I thought the problem was epic daily miner dumps and decreasing difficulty?

i would be sad at 1 USD  :P

1 BTC = 1 USD   ;D

Was he there to dispel fears, or was he there because they wanted to ask him what he's doing with his money?


By "talking up" do you mean "explaining why he bought"?


Because he believes it and because he understands economics?


That's the impression I get.


I don't think he called up Fox News and said, "Put me on the air, I need to pump up the price of BTC."  I think they contacted him and said, "We'd like to ask you on air about your bitcoin purchase."

What do you mean by a "sizeable stake"?  What's his net worth?  Is BTC 1% of his portfolio?  What happens if people don't agree with him?  Does he lose 1% of his portfolio?  You do realize that BTC has had these volatile price swings in the past, right?  This is nothing new.

He's a venture capitalist.  He's not afraid of taking a calculated risk.


Does he?  You think he's gonna be wiped out and living under a bridge if Bitcoin fails?


You mean convert sound, honest money back into fiat?  Do you not understand how the fiat scam works?

Regardless, I don't think the "diehards" have bet everything on Bitcoin.


I don't think Draper is as short-sighted as you seem to think he is.  I think he bought with the intention to hold them for a few years, regardless of what happens in a few weeks.

"...Make a little money..."?  Bitcoin is money.


Certainly a possibility.  But has there ever been a better form of money in human history?

I've already sold some.  It's a free ride from here on out, and no I will be holding BTC until the day I die and will pass them on to my posterity.  Furthermore, I don't care what the price does over the short term.  I'm looking 10, 20, and 30 years down the road.

If bitcoins go back to pennies, I'll happily buy thousands of them, but that doesn't mean 100% of my money will be BTC, just a fraction that I'm comfortable with.  That fraction is different for everyone.  For some it's over 50% of their assets, for others it's 0%.


I'm pretty sure he understands the risks involved with Bitcoin.  Those who invest with him also understand they are investing in risky ventures.



Bitcoin could also go to $1,000,000.  It all depends on supply and demand.

Yes, unless some fatal flaw is discovered with Bitcoin.



No thanks, probably nothing intelligent going on there.

Price is down, yes. Things aren't quite right and I posted why elsewhere but this is all growing pains.

In the end I think it'll be fine. I'm still believing here.

Every just says bitcoin will hit 10000$ but it would gonna happen.

bitcoins value is not down. just sheeples belief that following exchanges price, where only 200 coins can send the market cap from $5billion-$6billion is the failing.

once proper exchanges such as the ETF's start running, then with the transparency of accounting and the ability of whales to buy publicly. the price will jump.

as for how low will it go. well at the moment with the sheeple perception of crappy php exchanges.. it can go anywhre. all i know is that when people start buying bread, milk and bakd beans at $1000 a shot (FIAT crash Zimbabwe style) bitcoins will still buy me many loaves of bread as oppose to hoarding value in a bank in the form of fiat. which loses true value

$0.00 Because at that point you couldn't use it.
Of course I won't sell you my bitcoin for that money, I will prefer to keep them for collection :P

Back in 1996 I bought 18 rookie cards for $49 each.
(all of my paper route savings)

They went up to $58 and I bought special hard plastic cases and put them in a secret stash above my closet.
I totally forgot about the until last summer.

I looked them up.
They are now worth $3 each.

Screw football cards.

Just my two cents....

The price can go all the way down to $1 and I'll still be a bitcoin junky/fan. I think the problem with bitcoin is that to many see it as an investment and not as the currency its supposed to be. Yes it does offer an investment angle due to the price expectations within a couple of years and because of that I do hold a bit in storage but other than that I use it as a currency and will do so for as long its around as there is no equal.

I can zip thousands around the world without leaving my desk, without standing in line and essentially begging to send my own money somewhere else. Ever been in a country with draconian exchange controls? If not then you will not understand the freedom bitcoin brings.

So as said, it can hit $1 and I'll still be a fan. Yes I might lose on its value but then again, I'm presently saving thousands in bank fees for transfers.

If you want to be an investor then be one and learn to ride the ebbs and the flows and stop complaining about every dollar bitcoin goes down. If you cannot stomach this then go back to fiat and or buy some stocks.

If it goes to a dollar, I'd be happy to stop believing and then buy three hundred Bitcoins then. It would be truly glorious - don't you think so?

The OP got it wrong. Price doesn't matter.

The price is irrelevant. It distracts and paradoxically miscasts the long-term prospects for bitcoin.
Ignore. Make your play in the ecosystem. Don't check price every day.

People usually don't think rationally but emotionally (when they think about finance).
So, if value of bitcoin is going down at the moment, most people will try to sell bitcoin, afraid that they may loose more.
Because of this mentality, bitcoin will loose more value before this trend stop and its value raise again. 

Price really doesnt matter. Just look at infrastructure, merchant support, userbase, media coverage. This mean huge Bitcoin success so far.

When it hits 1$ i will stop believing

I think Bitcoin has passed the stage where it would've been possible for it to get deleted from the world like it never existed. Bitcoin offers a number of advantages over fiat that cannot be ignored. To answer your question, I don't think people will ever stop believing even if it were to drop to a dollar or less. It is highly unlikely something like that will happen anyway. I believe we will see a trend reversal soon enough  :)

I will stop believe in it only when it hits 0. If it will be 1 cent Im buying.

but where do you think it will stop this time, looks pretty bad right now :-\

Hahaha I remember when bitcoin first reached $1, and it made many people START believing.

I bought most of my BTC about 6 months ago when the price was about 400 GBP.
The price is 209 GBP as I type this so yeah I'm pretty pissed off right now.

WTB 1000 BTC at that price.

Then buy more and bring your average entry down. When it hits 200 buy even more.

If this last dip makes you pissed then you should rather sell at the first available opportunity and get out. Investing for the longer term will involve many such dips. Also, bitcoin, like with any other currency, is at best a speculative investment and a large dip like this should be expected. This will not be the last.

With all that said, if you can hold do. I'm pretty sure you will be the one smiling in a year from now, maybe even less.

Many people seem to think a break below the earlier 2013 high of around $250 would be really bad as that is a key support level.  While I think technical analysis is mostly voodoo retrospective sense making, $250 would be such a pullback from the end of the year high that I think it would convince people that there isn't much future in bitcoin at this time.

Sort of a negative there and back again type story.

I wanted to add earlier for all those who are in a panic about the price.

Just remember that any bear market is always more ferocious, if I can use that word, than a bull (upward) market. The main reason being that initial selling leads to more selling and eventually panic selling which, I think, is what we are seeing now. In an upward market you do not get 'panic' buying.

So a downward market can and will often go into a sort of dump mode and during this time many a weak hand will be shaken from the market. I expect the price to dip even further before it will find support. That support will come from people buying back into bitcoin after the weak hands have been shaken out. I know I'll be buying in as much as I can over the next couple of weeks.

Also, as some have already mentioned countless times, this is not unique to bitcoin. The dollar is giving must other currencies a beating now. Just go look at the Australian dollar vs the dollar for the past couple of weeks. Its down a big big stretch, almost in a straight line. So its not bitcoin failing.....its the market at work.

You could make Bitcoin go on forever by just developing a game around it like second life or WoW. It's impossible at this point for Bitcoin to have no value. Anyone that spent money, time, resources on Bitcoin isn't going to quit even at a penny per Bitcoin.

Keep in mind it is not about how much money you should be making, it should be look at the potential of this technology.

If you think the latter you shouldn't be in Bitcoin IMHO.

edit: also, I blame the price drop on Ebola. My dark horse theory  ;D

I think I may be convinced Bitcoin is a market failure if the price drops below $32. That is not to say it would be a total failure. It is a very important computing science experiment.

Yeah, let's go back to physical currency, covered in Ebola! Sell! Sell! Sell! Human race extinct!

If you are losing your ass it matters.


So the Bitcoin flaw nobody saw coming was OVER SUPPLY BY MINING --LEADING TO A PRICE DROP and opening the door for the next truly viable coin.

Ya price matters all over the place. On what world would price not matter? It's MONEY!

Time will tell who is right :)

I think you are confused as to how mining and changes to difficulty works. if more miners try to mine on the network then the difficulty will increase and the average number of blocks found per hour will remain constant at 6 (on average).

2013 saw a huge price increase and was potentially higher then it really should have gone and the price is adjusting downward but is still much higher then it was in the beginning of 2013

Hell yea! Even if everyone else has stopped believing, I sure would buy a whole bunch at that price ;D I got into Bitcoin late and have never owned more than 5 BTC.
Being able to say that I have a couple of thousand Bitcoin in my wallet would be pretty awesome :D  I'm sticking with Bitcoin to the bitter end no matter what.

The miners are taking way too much money out of this system anyway.

To maintain a healthy market, we need the miners to get compensated fairly, sure, but the drastic increase of efficiency in mining gear has made producing bitcoins much cheaper.  A high bitcoin price does nothing but compensate those miners for the risks they took, and whoever happens to be on the winning side of that trade (and hodlers ofc)  Most mining gear from Bitmain and other companies should be close, or have already ROI'd by now, if purchased at an appropriate time.  Institutional miners can stop the dumpfest and wait for the price to recover and get enthusiasm up again (because this is a permabull market, need I remind everyone here, that at this point, the bulls remain unshaken, and the people with large stakes of coins can't afford to be bears anymore, and where the hell else is the downward pressure going to come from?  Miners will stop selling, bears are ready to jump off the bandwagon, they are already setting their SL's closer and closer together....

At some point, for all those invested in bitcoin, even if it means climbing on razor thin volume, the dumping will stop.  You can bet on that.  After all, miners have millions of dollars worth of hardware, they aren't going to just shut the shit off....

SELL! SELL! SELL!!!

Must sell low!!! Must buy high!!!

Should have bought cards with utility instead... like Magic cards.  Best investment of my life :D... If only Mt.Gox was what it was supposed to be in the first place!

Block halving time frame for Bitcoin needs to be shortened.
Otherwise the slide will continue.
Either that or Proof of Stake in some variation.

This can be implemented with some balls on the part of the community.

Bitcoin is ready for mass adoption so it's now time to end the madness of non-stop mining dumps.

No, it is not. It has been estimated that the network can handle about 7 transactions per second. If it gets "mass adoption" before the network migrates to larger blocks, it will only have a niche essentially replacing wire transfers. The fees would be too high for buying coffee or porn.

Bitcoin will be dethroned in near future....BTC obsolete, there are better projects based around blockchain technology...just needs time get more recognition.

It's not going to be that easy. BTC is the most widely spread coin. Stability is achieved by having a vast number of people use a coin. BTC has got such a massive fan base because it was the first, people didn't have any choice. Nowadays you've got dozen of new coins coming out every day. And every new coin has to have amazing features to be able to attract believers and even then, it's only until a 'trendier' coin comes along. There is too much competition for a single altcoin to win the world like Bitcoin did. It could happen but chances are slim.

I'm going to hold all of my coins just incase BTC goes to the moon but the price is going down seemingly every day.
I think BTC is dying.

One week+ with single digit and I will begin doubt in Bitcoin future. How likely is that? I believe very slim chance

Well all the sandwich boarders are right bitcoin is a bubble and all I seen for the past couple of weeks is a slow and steady decrease in its price... I do believe a lot of people are jumping ship... I think $100 seems reasonable making it available to the masses.

I personally don't care too much about the price. Bitcoin is a revolutionary technology and can have many uses. I'll always believe :).

False. New shitcoins offer nothing that bitcoin cannot offer and are much less secure. The network that "secures" the shitcoins are primarily secured by rented hashpower by the devs who can easily manipulate the blockchain

Lower price is, wider can bit coin adopt. If it will go to $1, everyone will buy few of them.

Not really. Selling locks in your losses. By the time the price gets so low that I truly write Bitcoin off, I'll already have lost so much that losing the residual value won't make much difference. I'd rather hold and hope something changes. A trader would sell on the way down, then buy it all back at the bottom, but to do that you need to watch the market like a hawk, guess correctly where the bottom is, and have nerves of steel. I'm not that guy.

The thing is, "price" is the wrong question. It'd be existential threats to Bitcoin that would make me sell. Like flaws in the maths, new legislation or competition from a new coin. Now, I am a fan of certain PoS coins, and if it looked to me as though one of those coins was kicking Bitcoins arse in the markets, then I'd sell my BTC because it would be over. That's not what's happening today. The fiat isn't flowing out of Bitcoin and into some other crypto-currency. It's crypto-currencies as a whole that are crashing. And I don't see a reason for that. The value proposition is still sound. At some point you have to have some faith in your own judgement and just hold on.

At $0, if we get there, I'm still gonna be running a full node...I might start mining again too.

Someone has just dumped 27K of BTC!!!! thats a big sell order!

Could be a good time to get cheap BTC!

That is a very optimistic interpretation

Believing in the technology of bitcoin? NEVER! Unless we find a major, MAJOR flaw in the protocol that is not reasonably fixable. 
If bitcoin hits a dollar, I wil buy 100! and HODL

Bla bla bla ;] everytime when price is low.
Don't agree single word.

Well its pretty cheap now dont you think?

I dont think the true believers will ever stop believing in bitcoin, and nor should they. Fiat has an inevitable death. Maybe sooner than later. Bitcoin is just getting started. These short term monthly swings and government 'bans' are small hurdles compared to the innovations and new technologies with the bitcoin protocol that will be developed in the years moving forward. I'm sure many notable respected people doubted E-mail in the late 90s.

This has me really depressed. I am getting out of BTC before I lose money. Selling off 100 BTC at $10 a piece...

I don't think anything over $300 is cheap. Especially not today. 30,000 btc dump would crush the market

I think you make a very good point (probably unintentionally) about the price declining. If the prices continues to decline then it will be unprofitable for miners to mine, which will cause the difficulty to decline. I would say that the difficulty is higher then it needs to be right now to keep the network secure, but it cannot go down to CPU/GPU levels as it would potentially open it up to be attacked and essentially killed off

ive already become a long term holder. I just cant bare to keep up with the ups and downs for btc and simply stopped trading. BTC as a long term investment is a sure shot. Buying in at $400, currently at a loss but I dont care, i think I bought in low enough. Putting it away for the next several months at least.

Price will go down as adoption goes up, simple as that. Until we have more consumer demand (or large investors) it will stay relatively low. I'm okay with that as I know bitcoin right now is building up its useability in the future and has had a lot of good news recently. If you only look at short term prices when making long term decisions you're going to make bad calls.

+ Many

https://bitcointalk.org/index.php?topic=812539.0

The price will keep going down till the middle of November so everyone please relax

When price of bitcoin is under $1 that would be the time for people to lose trust in it.

Nothing is as cheap as it can be.

30,000 BTC was dumped a day or 2 ago in a single sell wall at $300, it did not crush the market #lulz.

I am guessing people will get upset and bail if bitcoin drop to below 100 again.

How Low Does Bitcoin's Price Need Get to Make People Stop Believing?

That's easy.  $0 and stays at $0 or less than $0.

No Bitcoin value, no more miners, no market, no more transacting, no more development, no more protocol/currency.

If Bitcoin essentially dies, then people will stop believing and move on to the next one...Bitcoin 2.0!   ;D

Speculators won't make as much money as they think they will if they trade Bitcoin, use it as a currency, the problem is everyone here is clearly trying to trade on the price swings rather than actually earn coins without screwing themselves over.

And what's wrong with trading on the price swings?

The only people making any money on Bitcoin without a massive time or equipment investment are speculators and criminals. At least day traders don't have to worry about the police knocking on their door someday.

There's nothing wrong with it, I just think it's ridiculous that some people on this forum expect the price to go their way 100% of the time lol :P

smart people buy low ... and never sell until 5 years.

Yeah, that's true. That is the very first lesson life should have taught them. You don't always get what you want.

How far does the fiat system have to stretch itself out of shape before it finally destroys itself forever. Then Bitcoin will rule, maybe even over gold and silver.

:)

Genuine Followers of bitcoin will never let their faces off from bitcoins. Because everyone knows that future of bitcoin is safe I am talking of those people who have patience and looking for long term investment am still 90% of population is not aware about bitcoins. So its too early to reach at any decision.

At around a 100 dollars the cost of mining would be to much and the network would collapse so somewhere around their I would say.

Even if it does drop to the price of a dollar, there are other currencies that cost less than 1 USD, and others more. It would be just like every other currency in the world. Besides, the blockchain technology can still be used for many other things that will make you more money. I would definitely still be a fan of Bitcoin and the blockchain even if the price is super low.

That is really good to know.
It's nice to know that there are true Bitcoin supporters.

I have one question though: Do you own any Bitcoins?

I'm a massive fan of bitcoin, first and foremost because of the technology and political ramifications of it, but I also like the possibility of being able to make a little money from it in the future (not to get rich or anything but financial comfort is always nice), but I don't think it is 'safe' as you suggest. Bitcoin being what it is there's always going to be some weight placed on the value, but if people buy coins and they keep losing money or the miners can't afford to keep mining because of the low price then this is a huge problem (yes, not really bitcoins fault but the economy that has been built around it) and because of this the value of a bitcoin is still an issue whether you're a speculator or a 'true' believe in bitcoin in my opinion.

If miners can't make a profit, there will simply be less miners, and then at that time, they'll be able to make a profit again.

There is a problem if it's so unprofitable that there are only a few miners left, and then a 51% attack can be executed cheaply.

I think it's not so much about the price as about transaction volume. If the volume lowers significantly, I think people really have stopped believing.

I would prefer to go with bitcoin even if the prices are going lower at this stage. I will wait for the future and I believe prices would raise in the future and you can atleast make some profit out of it rather then selling at this stage I think the value to bitcoin would be stable in future.

Bitcoin is better and cheaper than other options, specially if you want to send small(or not so small, depending where you live)  international payments.

If you bet that 2+2=4 while all others say that 2+2=5 you will win, even if it takes a long time

I do own some bitcoin, but not that many. And of course, I accept donations, if you are willing to donate some.

If the price of bitcoin reaches $100 or less people will stop believing in bitcoin for sure and will diversify themselves to some other investments. But likely, it's not possible that bitcoin will go that lower and believing that it would reach at all time high value in future.

Well as low as it can go whilst still being profitable for miners to keep on mining, that's how low before we're in trouble. Personally I don't mind the fluctuations currently as I see them as growing pains whilst bitcoin, but the biggest problem with this is to many outsiders it looks bad and that's why many are worried about getting involved or wondering why they should take the risk. My only hope is it wont always be this way but I'm unsure of that myself.

I'm neutral, I don't have any incentive to use Bitcoin anymore, so it's mainly to amuse myself, watch if it crashes and burns or takes off.

Well, earlier I thought 250 might do it, (https://bitcointalk.org/index.php?topic=810424.msg9081803#msg9081803)  but it appears not, people still hanging in there.  I guess people believed in bitcoin at one US cent and so there will always be some faith in it unless the protocol is clearly broken in some way.

I got excited about all the hype with bitcoin, but now i look at it and see nothing special other than paving the future of crypto, now every man and his dsog is out there starting their own coins to compete.
Anyway, serious projects like NXT, NEM and ethereum will pave the way of the future and leave BTC for dead as the dinosaur that it already is.

This is very difficult question.
In my opinion, if people started with bitcoin when price was much higher than now, $ 500 or more, and now, for the long time they don't see any positive changes, I think that this people can start loosing faith in bitcoin, specially if they bought bitcoin as investment only.
If people using bitcoin also for buying and selling digital products and services online, they may think differently.

Problem is that Bitcoins price was over inflated, driven by hype as the word spread about it so every man and his dog was buying it, then the same thing happened with all the other alts.

There could be a big slump for some time and then things should stabilise, but BTC could very well loose alot of marketshare to other coins.

While I wouldn't completely rule out the possibility of another coin surpassing BTC at some point in the future, it seems unlikely and also I don't know if it would be any of the current alt coins out there.  The masses aren't technically minded and will probably jump on something recognisable, like if a well known company launched their own coin.  I'm imagining something horrible like Googlebucks or Microsoftcoin.  Also, if ethereum wants to be taken seriously, it needs to hurry up and stop looking like vapourware.  It's about to be made obsolete by coins that are not only turing-complete, but will also be able to trade directly from one block chain to another without using a centralised exchange.  If I had bet anything on ethereum, I'd be getting pretty worried about now.

I didnt invest in Ethereum because of that, but its possible it may be a success if it does what they claim.
Im a big believer in NXT and i have also invested in NEM incase that succeeds. 99% of the alts are crap, or just driven by hype.
Whatever is successful will be whatever coin can work around the flaws in blockchain technology, which there are quite a few issues that need to be addressed. Blockchain pruning is one such example that i would like to see implemented in addition to instant transactions for POS use.

Aha there has been attempts the last 4-6 years to create a new better crypto which moons because that seems to be all people care about. Nothing has come close and I doubt ever will especially them things you speak of  :D By things I mean crapcoins. Don't you think nxt has had a nice amount of time to become highly successful? 100% premine controlled by a few players! No thanks. OP it doesn't matter how low it goes there will always be believers, as long as the difficulty gets reduced the lower it goes I see no problem with the price it was cents once before, also if it went to a few dollars the pumps would be epic goldmines.

Stop believing? Sleep well knowing your beliefs are for sale.

If you don't believe, why are you here?

Giving up means you're willing to accept the current banking & Fed Reserve system... this should never be an option.

Some people hang around, to make people negative about Bitcoin, so that they can push their own agenda. {They might for instance, support another Alt coin <cough Ripple> and hope to push people away from Bitcoin and towards the Alt coin they are supporting}

Everything is not just above the table as you might think.... It's a dog eats dog world out there.

There are room for everyone, so stop the pushing and shoving.  ;)

Just shows you dont know a thing about NXT, 1, because there was no premine, 2, anyone had the chance to invest in the IPO, but most declined the offer and now are sore about their poor decision and naturally are trolls.

You're deluded in thinking that most are here for believing. Its mostly due to the possibility of making quick money. No matter how low it goes, there will always be those who will want to buy at those prices hoping for a quick profit. In addition some of those who bought higher may want to cost average and get more.

I don't see it going to a low that people would stop believing in it...

And besides, he is right. it might go too low, and he'll "cut his loses", however the price drop will bring in more investors &folks looking to get in, however the price was too high. This will create a new demand in the market, and the price can go back up again......

Just remember that any bear market is always more ferocious, if I can use that word, than a bull (upward) market. The main reason being that initial selling leads to more selling and eventually panic selling which, I think, is what we are seeing now. In an upward market you do not get 'panic' buying. So a downward market can and will often go into a sort of dump mode and during this time many a weak hand will be shaken from the market. I expect the price to dip even further before it will find support. That support will come from people buying back into bitcoin after the weak hands have been shaken out. I know I'll be buying in as much as I can over the next couple of weeks.

Also, as some have already mentioned countless times, this is not unique to bitcoin. The dollar is giving must other currencies a beating now. Just go look at the Australian dollar vs the dollar for the past couple of weeks. Its down a big big stretch, almost in a straight line. So its not bitcoin failing.....its the market at work.

Yes you do? That's where bubbles come from.

Uh no. I'm not even a bear, and I think bitcoin can die. In fact, it's more likely that it dies rather than succeeds. It's just that the benefits of it succeeding outweighs the risks. Kelly criterion and such.

For me, it doesn't matter what price bitcoin is, as long as there are services that accept it.

I won't mind if bitcoin hits $10 or even $1, if people still offer the same services they offer today, I'm happy.

If bitcoins does hit $1 i'm sure there won't be any services anyway, with only a $21M marketcap.

If there was that many services accepting it, naturally the marketcap would be alot higher than what it has ever been. Adoption and acceptance is key to the success of any cryptocurrency.

"Until you die?"

Yes. No matter what. If I have to live in a cardboard box under a free way I'll never sell.