Thanks guys, that helps.
2. Make sure your descendants inherit your private keys. The coins will live on.
True, but with bitcoin it seems like the individual is completely responsible of their own money. I can see there being more and more lost bitcoins in the future because people either randomly dying or not thinking of providing any instructions to transfer their money to their inheritor. Maybe there will be ways to recover it or it might not be too much of an issue in the near future.
exchanges are not one person. the price is not set by the owner of the exchange, but by the people that trade on the exchange, these people do include miners, investors, payment gateways selling off, individuals buying in.. the question most people are truly asking is why are people dumb enough to allow themselves to sell bitcoin below 1000. if no one agree's to sell below $1000, the price would not drop below $1000.
So that was my next question. If all the sellers who are setting the price decide to just gradually keep increasing the price, wouldn't that be beneficial for everyone? It will attract new buyers because they can see that they will have an obvious return on their investment because the price never goes down. Maybe i'm thinking of this the wrong way