Seriously I would rather see bitcoin drop to the level where it will find equilibrium where there is little chance for fear or anything. What we need is confidence and when you have price moving down and then up again and then crash the next day, people would start to perceive bitcoin as something unsafe. Rather than projecting it as instrument for investment, we need to have it seen as a currency.

Practically I'm not that all worried. When the price goes down, that is the opportunity made available for us to grab bitcoin at cheap price. And at cheap price means something which has the potential to be worth a lot someday is now at a bargain price. I remember during early of the year it was like 600+ and I have double thoughts of whether to spend to get it. Now I don't have any of those feelings or hesitation.

Does it mean they are just short of money or have they simply lost trust in bitcoin? Hopefully it's the first point. I mean initially they were very bullish about btc capturing all the credit card market shares. Something like they envisioned the price of per btc to be worth 32k someday.

Wow. Talk about someone who believes so much in bitcoin. I mean you practically wager everything you earn with the hope bitcoin will one day becomes the standard currency! Good luck then. I'm not that brave as you but still keeping a portion in fiat to lower the risk.

Nice idea. But it would be more fun if the balance number is big. You sure you have already put everything you have? 

The issue with the price crash is that it is not caused only by the mining part. There are traders who leverage their position to sell bitcoin in order for fast gain. Technically they can sell with money they don't own. Don't worry, eventually they will need to buy back and hopefully we can see a recovery taking place.

Generally I'm not worried on how low it can go. I'm sure the buying sentiment is there.

Hopefully when price goes down, it will attract more people to join bitcoin, because it will become affordable.

Okay, not sure if this has been discussed before but I 'm just wondering how possible it is for a hacker to find a HD wallet with fund (via means like brute force)? Before I move on further, you might probably counter that by saying for 128-bit that would translate to 2^128 = 3.4028×10^38, so it will be almost impossible to come across one seed address that contains fund and that would take eternity which makes the whole effort pointless to hack.

But what if the scenario changes in 20 years to come when the bitcoin has achieved that level of mass adoption. Imagine if let's say there are 8 billion human population and half of that numbers adopted bitcoin. That would give 4 billion and that is assuming every single one of these users only has one seed account.

Thus instead of probability of 1/3.4028×10^38 to find an account, you now have 1/1.7014×10^29. In this scenario you still won't be able find it easily but with increased probability and advancement in computer technology which let's say able to churn out approx one million of balance checks per second in 20 years time, how feasible would that be to find a seed that contain fund in it?

Note that I'm not trying to create FUD here but merely looking at security point of view and possibilities when using HD.

I haven't change my buy order at 280. Have a feeling this could be the right decision as most people would expect it to rebounce after touching 275. Currently last check on btc price, it was 302. Getting pretty close.

When you are in a mess you need a monetary system like fiat to bail you out. That means printing more and more of those paper money. Sometimes, even when the contingency plan is in place, it will still remain the same. That is when you know the mess you are in is just too deep to crawl out. Bitcoin is different, you can't print more of it. You can bluff your way through. Nobody can manipulate it. And that is what I like about the system.

I try to be optimistic. I mean what else can go wrong from here. There is no more Mt Gox. People are gaining trust in the system. Microsoft is trying it out to see if it works. Not to mention Paypal. Forget about the price. If it drops, I'm sure there are many who are willing to buy at lower price, pushing it back up once again.

I'm playing my part on #7 but seriously sometimes it's like explaining to a brickwall. They will give you that kind of stare. But never mind, I'll just play my part to try and convince them.

Somehow all these has a correlation with movement of dollar. Look at Dollar Index measured against a basket of major currencies and you will see what I mean. If you analyze the price of btc against euro, it is actually gaining not going down.

It now request for verification. I need to provide residential address, scanned copies of proof like passport, national ID and driving license. I'm not going to provide that.

Time flies. Can't imagine it has been 6 years. Hope to see wider adoption and eventually more and more people accepting bitcoin.

I believe this can change if everything were to be priced in btc. If you provide service or work and earn with btc paid to your account, and you can use the btc to purchase all the necessity daily items, why would you want to convert to fiat in order to make that purchase? Similarly, if a business entity earns from a sale of product in btc, and they can use the btc to purchase insurance coverage, pay for office rentals, then it would simply break the "sell back to fiat" chain. I hope I make my point here.

But first we need people to see bitcoin as a safe store of value. When fiat collapses, btc is still firm in terms of maintaining the value. Contrary to fiat, take for an example, a unit of fiat currency which can buy an X gallon of gas which when economic collapse happens would require 10 times the amount of fiat to buy the same X gallon of gas. That is when people realizes that they need something considered a store of value and we need to let them know bitcoin is there.

Frankly speaking, there is no way to predict without any data or information so basically everything will be purely from wild guess. We have seen microsoft going into it just last month. Paypal next, which they have clearly indicated their interest, but I haven't seen the implementation just yet. If those two corporations become successful when it comes to bitcoin integration and the response from buyers are overwhelming, well from there it will be a chain effect that includes Amazon joining the party. My guess would be by end of this year or early next year

Yes, I don't deny that. In fact, not only Mt. Gox which is causing this, the massive generation of pump and dump altcoins and the lure of getting newbies to invest in it, only to suffer losses are making new investors turning their attention away from bitcoin. Our reputation suffers as a result of linking bitcoin to scam. Sadly these are something which we can't do anything to prevent it.

Well with HD wallet, practically I make sure every transaction ends up with different address. Mainly that is for privacy purpose. If the number of addresses are completely exhausted, I'll create another new wallet with a new seed. That is main reason why I don't go for vanity address.