Bitcoin Forum

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.

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.

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.

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.

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.

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.


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

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.

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.

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.

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.

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.

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

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.

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.

There must be thousands of Suicides worldwide :)

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.} 8)

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 ..

I buy at least 1000.

Highly unlikely scenario. At this stage in the game, market mechanics alone almost guarantees that. Then you have the businesses that revolve around Bitcoin, these will, to some extent, behave in a similar fashion to plant roots during a flood (mitigating soil erosion). There are of course a few scenarios that could see Bitcoin drop to $1. The most likely would be one where the top holder/holders dump a few million BTC thereby triggering a domino effect. However even this would only be a factor if it happens while Bitcoin is still 'weak' and the market is not ready/able to absorb the initial dump by the top holder/s.
Anyways, I'll be sure to invest a few hundreds of Dollars in Bitcoin (instead of getting a new phone) if something like that ever happens   ;D

which can be translated in the death of bitcoin, miners can't secure the network anymore with that value and the network itself will die pretty fast

@OP and besides this the demand itself will ensure that such scenario will never happen, many will start to buy in bulk, a enourmous amount of coins long before $1

Well Andreas Antonopoulos claims that Bitcoin dynamics would take care of everything and that Bitcoin would continue to work flawlessly even if 1 BTC is to become again $5. So if you believe this man,  and I do then we have nothing to worry about.

Even though I think this is highly unlikely, considering the amount of money invested into Bitcoin ecosystem.

Does anyone know what was the price paid by the Winkelvii, when they purchased 100k coins in 2013? If I am not wrong, they invested tens of millions of USD. And right now, there are dozens of investors like the Winkelvii, who are interested in BTC. They will lap up the coins, if they fall below a certain threshold (say $100). So there is absolutely zero chance of BTC going back to the $1 mark (unless some serious bug is discovered in the source code).

I finally set up my payroll so that a portion of my salary (fixed amount of USD) goes to Bitwage to buy BTC. What this means is that I would get lot of coins on the 15th and on the last day of every month.

For the exchange rate between bitcoin and the dollar to reach $1 or parity to the dollar is a non event. In order for this to happen bitcoin will have to drop in value and the dollar needs to increase in value.

The chances of the dollar increasing in value is so to say a non event. It might go up a bit but it will need to at least double or triple in value and that is not going to happen. Over the past century the dollar has lost more than 90% of its purchasing power, the chances of it even doubling in value is a round zero. With a possible QE4 around the corner it will just plumment some more.

If the dollar does not increase in value it will mean that bitcoin would have to come down to the dollars level in order to reach parity. A drop like this will only happen if the trust people have in bitcoin is broken in someway or another. As long as that trust remains, bitcoin will remain and go from strength to strength.

it will be dead then. everything under 150$ is dangerously low. if btc goes to 1$ then eth is already the winner.

Unfortunately, that's not going to happen...if that occurs, I buy 5000 BTC right away!

That would be dumb if you don't know what triggered the downfall and if it is irreversible or not.

That will never hapen ...:)

Op's scenario is totally impossible. For various reasons:
1. Amount of money invested in bitcoin: technology, startups, projects are huge. It won't collapse.
2. Only something like critical error or hidden flaw,backdoor of bitcoin will be exploited. As far as I know bitcoin code is pure.

Exactly. Bitcoin at 1 USD would mean a massive bug and "the end" of bitcoin for a long time.

I would buy 10 000 and keep it for a long time :)

I believe that most people here see bitcoin as investment and buying or earning BTC with hope to make some good profit later.
If Bitcoin reach 1 USD exchange rate I'm sure that 99% will give up bitcoin and start to search for the next ''great thing'' and forget about BTC.
Bitcoin is still not mainstream, we can buy some digital products or services with BTC but as currency, bitcoin is still not globally accepted.
So, it's obvious what will be the future of bitcoin if its value experienced a large drop.

People will start bitcoins at the throwaway rate in the hope that it may increase soon. I don't feel that more people would be interested in bitcoins looking at the rate but the bitcoiners will be still saving their bitcoins to not incur a huge loss and most importantly all the exchange websites would shut down.

Well so many optimistic people thinking like that but reality is totally different that will never going to happen again and history will never repeat at this stage when bitcoin is ready for going to at mainstream and becoming the most demanding and secure next currency so thinking about this is like dreaming with open eyes.  ::)   

Yeah, I don't see it going back to $1.00, this might be a bit taboo to say but there are already enough people who completely rely on Bitcoin to make certain purchases (thinking darknetmarkets :p).
Unless they switch to another cryptocurrency, there will always be a demand for bitcoin, this practically impossible for the price to drop to $1.00.

If bitcoin reaches 1 dollar
I think no one will be interested in buying it for investment sake .

There would be too many people buying them cheaply for the price to get that low.

To all saying they would buy a 1000 at 1 USD, lets see that again after a 5 year price decline, you wouldn't dare to touch it ;)

People really need to chill with the worst case scenarios. There are a lot of things that could happen that would make Bitcoin or any money in fact, irrelevant and worth nothing. Bitcoin works and will work, be it at $1000 or $1.

You can cut loses right now, I will buy all of your coins right now at 1 BTC = $2. Buying up to 10M coins.

There will be massive buys. Very sure of this. At least I would pick up 1000 BTC right there. Honestly I would proberly have picked up 500 BTC when the price was $2  ;D I think everything under $100 is a very good price for bitcoin.

thats an easy question as im reading the replys in this thread, i will buy BTC like possessed xD

will be the perfect opportunity to buy it since im sure that after it, it will grow up a lot ;)

maybe its impossible, but if its happen,
of course many people will buy bitcoin, because of market demand, the price of the bitcoin will go up again  ;D

as far as i know that it would never be happen because so many time,process,and big project has build for bitcoin therefore bitcoin is never reach 1 Usd exchange,just my opinion

but if it happened i would bought as much as i have

I am still going to use, maybe someday the price will go up  ;D

The chance is more for btc to reach $1,000 than $1.

A lot of people would buy up a ton before it hits $1, which would at the very least probably keep it in the high double digits. Unless there is some security issue with the actual code/network, you're always going to have the hard core holders that will keep up the value.

price of bitcoin wil never drop to $1
if the price is $1 no one will mine bitcoin..
price need always to get higher for the miners..

maybe I'll stop looking bitcoin, and began looking for the dollar

It's pretty damn impossible at  this point. Way before we go anywhere near to 1 USD, people will buy millions worth of BTC, so forget about such low price. Also speculation subforum.

i have read somewhere that quantum computers/computing will definitely crush crypto world..
who knows what value will be then..
i am on bitcoin because there is so much invention arround the blockchain technology, and by keeping my interest on bitcoin, i could follow them through
inventions are very beautiful..

You've been reading crap then.
Some of the crypto in use now would be 'crushed', most would not.
Much would be weakened, and the key sizes would need to be increased.
It's believed that hashes, for example, would be hardly affected.

Bottom line: There are plenty of unaffected crypto schemes that can be used to replace the broken ones.

It could certainly go back to $1 but it will take awhile.

In the near term, too many investors have too much committed to let it go that low. They will throw good money after bad to prop it up. Example - many who bought near $1000 per coin have been scarfing it up all the way down to try to reduce their average cost of entry.

This will never happen. It's really unlikely BTC will go to 1 USD.

It will be dead long before.

Under 100 $ we will be at war and people will start buying insanely

If bitcoin goes back to 1 USD it will mean something is very very wrong and people probably wont want anything to do with bitcoin.  Even though the market for bitcoin is thin, to go all the way back to 1 USD suggests it is broken.

I don't think it will happen, otherwise I'd sell all my bitcoin today.

it can be possible only when internet is comletely gone or banned worldwide .there will be only 21 m bitcoins and so ther will be no such a deflation.

If it hits $1 then there's no particular reason why it shouldn't hit 1 cent either. That price level would mean it was over and any trading taking place would be for purely nostalgic reasons between the faithful.

If it has no demand and no utility or it's fatally compromised then even a $15-20 million market cap seems like too much to me.

I will buy 10K and get into top 100  ;D

There were many such "$1" posts during past several years, just search them out and browse

What will happen if USD reach 1 satoshi exchange rate?

lol k

If thats happen then its time to convert my fiat into btc

I remember this discussion from 2011. Many people had charts "proving" that bitcoin could never reach $1.  :D

We have come a long way baby.

Possible scenario in one case - quantum computer that  will break SHA-256 algorithm. Then bitcoin will have new algorithm (SHA-3?) and network safety returns to 2010-2011 level :)

if that happens then i will buy more then 5000 bitcoins for sure
come on man, after such broad userbase I don't think it will happen ever not even in dreams  ;)

i think it will never reach 1 dollar.having been usable for sending money for a little money , never will. if the universe collapses then maybe it can be zero.

Dude, this already happened somewhere in 2011.

i am sure he means from now to till in the future and not what has happened in the past. it's simply not possible anymore unless we all leave the project because it failed. even then people will not sell their coins for $1  :)

I'm in the camp of "I'd throw $1000 at it" as it's still better than a lottery ticket.  I can't conceive of a situation that would cause that though with what we know at the moment.

When the price falls to $50, i think who holding a bitcoin wikk sell all their coins and never want to see bitcoin prices again. Not need to wait falls to $1

Do you understand that you can sell only if somebody is buying  ?

Between the shorts, and massive buying, it'd probably go to $100k  :D

Long before it reaches that amount the whole network isn't capable of maintaining due to the high power cost and low returns, bitcoin would die long before 1 dollar, since there is too much economy in it now

It will dead forever ... i think even Bictcoin reach to $30-40 again it will happened .........

What do you reckon an actual death spiral would look like?

if it happens then some big companies will buy most of them and then promote it very well to earn good profit

It will be the last scene in bitcoins live as miners will stop mining of course
And I think this scenario may happened before reaching this price

Then if it dropped to that $1 you speak of I would have lost a few thousand but gained the status of becoming a whale once I double down my few thousand losses. I don't like to say never but I doubt very much that Bitcoin will ever be close to $1 again that boat was missed along time ago.

I think you'd be better off premining 21 million of your own coins to send to yourself because you'd be throwing your dollars away.

if bitcoin reaches 1$ its going to  0$ in the following 3 seconds.

This is true: if Bitcoin has still any usability, 21M of bitcoins are a too small number to keep the value to $1. There are too many people that would buy huge quantities... therefore the only reason that would make its value fall so low is that it doesn't work (hackable? unsafe? Transaction takes too long to be confirmed because blocks are still only 1M? And so on..). At this point it loses all the value so most likely it's 0.

If it ever did reach that crazy #.

Then most of us are on a buying spree on a certain extent of level, which is filled with hope that the value will go back one day.

But seeing that value just means that almost all exchanges have failed then. And millions VC money lost and sites like coinbase will pretty much sell off - the prices are set based on the exchanges.

So that means all those exchanges need to fail- impossible scenario.

Premining my own coin would not have the following nor adoption that Bitcoin has though will it?

I see you mean it would be finished and I agree to an extent but if the tech is still there working and people still using it on darkweb etc  then it won't be long until a nice pump and even if not, it doesn't really matter mate I'l be like the captian that goes down with his ship.

 :D

Win some, lose some

Most people have a hard time how supply and demand works...

But seriously, that means we have zero demand for bitcoin to make the value to be $1. lol.

I think you`ll see most jumping the ship if it ever did fall below $100. Or gave indication its struggling to hold at that level.

Plus think about how much you gotta own to make it worth anything lol.

If that happen i will buy a bunch and even do faucet like mad, just in case it recover some day hehe

If it reaches $1 we can consider bitcoin as good as done. It means that no one is willing to protect certain price levels.

When btc will reach to $1 that means the project is failed and it is very very  very very hard to reviving a dead project ........... Like all of altcoins that are dead now

Doubt it. It wouldn't even get that far because people would just put in massive buy orders. Bitcoin would be in trouble long before it ever reached that price though. Even if it dropped to sub 100 miners would be mining for free most likely/

yup and that the whole infrastructure is on the verge of collapse as $1 is practically where bitcoin came from :(

No, Bitcoin started out at something like 1000 Bitcoins for a dollar. The first big pump peaked at $2, then it crashed back to 50 cents each. There must have been people that dumped all their Bitcoins at $1 because they had made 1000x profit. Bitcoin will only be dead if it ever goes back to 1000 Bitcoins for a dollar for a significant length of time, and not before that.

Bitcoin briefly crashed down to $0.001 for about 15 minutes in June 2011 after Jed had his laptop hacked when he was at MtGox. It survived that and will survive other catastrophes.

Please make me an email to sell mine. Even i will lose almost all my money at least will have 1 dollar for bitcoin. Better few then nothing!

it's not worth selling your coins for $1 as you basically has nothing to lose anymore. there surely will be a lot pump and dump groups active. even then you as trader can make a good bit of profit.

Massive suicide. ->The extinction of thee geeks. ->The "gamer" market collapses. ->Sony, ASUS, Microsoft collapses.->Silicon Valley collapses. ->More massive suicide. -> There is no more brilliant brains remaining on the world. -> World war 3. -> End of the world.

SO, bitcoin's death -> End of the world.

You don't want that, do you?

 ;)

This

If one bitcoin ever reaches 1 usd per coin, then something must be really wrong. Either someone found a way to exploit and generate free coins out of thin air or the whole blockchain is in a mess or some other things never thought of. When that happens i would think twice even it was offered to me for free.

I would consider the project dead and move on to another crypto. If something happens where BTC can't maintain a ~$13M marketcap, something terrible has happened.

there is a entanglement between Btc and other crypto currency coins ... If btc will fail all others will fail ..........

well if bitcoin drops to 1 usd again, like in the beginning...
a lot of people will sell their bitcoin, before it really gonna happen..
because before it reaches 1 usd , there will be a panick already.
and dump their bitcoins. causing the bitcoin to go more lower.
a lot of dollars will be wasted. but the good thing is... all new comers in bitcoin,
and all beginners.. will be very good timing on it...
in reverse a lot of bitcoin believer will still buy and hope that it will go up to at least a $1000 ...
well whatever happens ,, goodluck to all of us.. :P

I will buy a lot. :D

Of course, assuming the fundamentals are intact, and it is still the massively adopted crypto, and the price drop was created by a stupid whale. :)

nearly all price drops are the result of a whale dump. normal traders will then follow with selling. that's also how it works with stocks. the trading is the same.