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Author Topic: Fall of Bitcoin?  (Read 2205 times)
leex1528
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November 05, 2015, 12:14:06 AM
 #21


Well not if there are faucets or not, but if there is adoption and spread of the coin or not.  My theory is that it would be tough to get people to actually take to Bitcoin when it isn't worth anything and you have to invest your own money

Just random thoughts by me I guess

If it isn't worth anything what money would people had to invest to get into Bitcoin? Few dollars or cents?
It could work both ways. High price - more people will see it as worthy investment. Low price - people will be more keen to share with others, do giveaways (like in the early days) or just use it as fun currency for tipping, micro-purchases etc.

There are too many factors to know for sure what it will be like if Bitcoin is worth one buck.

I guess I am sort of getting at, if it isn't worth anything.  Then people wouldn't invest anything even if it was just a few dollars or cents, thats how people seem to work.
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ilovealtcoins
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November 05, 2015, 12:14:27 AM
 #22

Plus I would hold a few, and use them like they were meant to be used: as a currency.

I love dem altcoins
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November 05, 2015, 12:19:13 AM
 #23

Kind of a stupid question. Even if the price goes below 1$. Hackers/Anonymous people and a lot of drug dealers would likely still use it. So it will never die. And its also the easiest and quickest way to send money .

I think dollar might die though Tongue
I don't think so, there are more altcoin which are more anonymous that bitcoin and I did not see them being raised to the top of popularity charts by that feature.
Also bitcoin is more private that it is anonymous to begin with.


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ShetKid
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November 05, 2015, 12:22:36 AM
 #24

Kind of a stupid question. Even if the price goes below 1$. Hackers/Anonymous people and a lot of drug dealers would likely still use it. So it will never die. And its also the easiest and quickest way to send money .

I think dollar might die though Tongue
I don't think so, there are more altcoin which are more anonymous that bitcoin and I did not see them being raised to the top of popularity charts by that feature.
Also bitcoin is more private that it is anonymous to begin with.

But bitcoin is much more easily accessible, and known to people than any other altcoin. And its not impossible to remain anonymous with bitcoin. Altcoins might have an edge in some terms, but bitcoin is still used for those purposes these days.

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November 05, 2015, 12:33:26 AM
 #25

Just a question here. 

So if Bitcoin prices go below a dollar ever, do you think that will be the death of Bitcoin?  The reason I ask is a lot of people try faucets/signature campaign or other methods to earn coins.  If it was at a dollar, that means you would have to give out a fairly large amount of BTC to get people actually doing it.  IE faucets would have to be around .001 per claim to make it even worth it.  I don't think the people who run faucets actually will be willing to give that.

Just random thoughts..
Bitcoin will never die, no matter how low the price is Smiley
As long as demand exists people would still using bitcoin for every transactions
And actually i would love to buy $1 btc Roll Eyes
Would be a great investment right there Grin

mtnsaa
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November 05, 2015, 12:37:37 AM
 #26

The truth is that we don't know anything. This spike is practically unexplainable, Bitcoin future is hardly easy to figure out. In theory it will always appreciate with time (that's what it has been doing every year since it started). But I can see a different scenario where a new tech arises that makes it obsolete somehow and fade into nothingness or very low value.

Many of us are into Bitcoin and attracted to it because we can feel there's something great about it but can't really know for sure if it will explode or not.
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November 05, 2015, 12:43:55 AM
 #27

I think if governments around the world fuck up the internet then bitcoin will be screwed too.
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November 05, 2015, 12:59:36 AM
 #28

The price has been below $1 before and look where it is now.

Strictly speaking, Bitcoin works no matter what the price is. It doesn't care one bit about speculators.

Buy bitcoins with cash from somebody near you: LocalBitcoins
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November 05, 2015, 01:19:49 AM
 #29

It is nearly impossible to Bitcoin fall that low, but even at that price i bet there would be someone to mine (even for free) and enough users to give value. As long as we have some sort of internet, i am not worried about Bitcoin.
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November 05, 2015, 01:24:38 AM
 #30


It's not going to go down to $1, and if it ever did, bitcoin would cease to exist.  Miners wouldn't be able to afford to run the network if they're only making $25 for every block they solve, hence no more bitcoin.
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November 05, 2015, 01:27:30 AM
 #31

I think the timing is wrong for such a question. It's going up fast lately, haven't you seen?

BTC will never go down to a dollar. I really mean never, and I mean that if BTC ever goes down to $100, I and many other people I know, would jump at the opportunity and buy so many BTC that it would make the price rise again.
well it was a rollercoaster today it went up like crazy but now it looks like the bubble has popped, price is hovering around 380 currently.  Sad
I had to stumble upon this thread to find this out Shocked

I turn my back for an minute and now look, my sh*t is fudded now  Roll Eyes

Just got home without checking price from this morning and it was going up so nicely at $475 and up. Crash and burn now I guess  Embarrassed
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November 05, 2015, 01:28:49 AM
 #32

While a one dollar Bitcoin may not mean it was dead, there would still be a dedicated hard core but I assume since only some type of technical disaster could bring it back to that price even that's debatable, it would mean it was a complete and utter irrelevance as all faith had been lost and zero would be the next step.

All those boasting about buying up thousands as it went into a death spiral in reality would be running around their bedrooms screaming with their knickers on their heads.

I think it's either heading for success or oblivion. Outside academic curiosity and nostalgia I don't see a hugely stunted Bitcoin living on.

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November 05, 2015, 08:21:06 AM
 #33

there are more chances that we go to 100k than 1 dollars, 1 dollars is a long way gone price you won't see ever anymore, unless a fatal falw is discovered or something

and we are talking about a fall when we are skyrocketing, no-sense
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November 05, 2015, 09:12:29 AM
 #34

OP we won't ever go under a dollar I think and even of we do, that will probably be an end of Bitcoin so nobody will even care about faucets and signature campaigns anyway!
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November 05, 2015, 09:18:39 AM
 #35

I think the timing is wrong for such a question. It's going up fast lately, haven't you seen?

BTC will never go down to a dollar. I really mean never, and I mean that if BTC ever goes down to $100, I and many other people I know, would jump at the opportunity and buy so many BTC that it would make the price rise again.

I am guessing you aren't paying attention to what is happening?  It has gone down $100 dollars in the last hour alone and is still going. 

I wouldn't say it won't ever go down to that I am also saying it will, I am just curious if it did.
The fluctuation of the price in $ is imminent. Even if it goes below $1 the price is very likely to increase again. Although it  might lead to a lot of dumping, I think the smart one will buy loads at that low rate and simply wait for it to rise. The 'risk to profit' factor is high in such cases.
~Bitcoin~
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November 05, 2015, 09:20:45 AM
 #36

I don't think bitcoin will ever go down than 100$ in future. People who are holding large sum of bitcoin already have lots of dollar also in their account to pump the price up buying lots of bitcoin. What happening right now seems to be lots of buy order from chinese exchanges which shows there are lots of new or old people interested in stacking bitcoin for future. So below 100$ for bitcoin price is out of my thought.

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dinofelis
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November 05, 2015, 12:14:17 PM
 #37

Please actually read my post, it has nothing to do with me thinking Bitcoin will go down below a dollar.  I am asking you if you think IF it did, would it be dead

I think it is the opposite.  In order for bitcoin to go down to $1,- it has to be dead.  The cause of its death will be elsewhere.  Technical failure, actual 51% attack successfully done, global crackdown by governments, or something of the kind.

Or replacement by a much more successful altcoin, with bitcoin relegated to the museum.

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November 05, 2015, 01:11:26 PM
 #38

Just a question here. 

So if Bitcoin prices go below a dollar ever, do you think that will be the death of Bitcoin?  The reason I ask is a lot of people try faucets/signature campaign or other methods to earn coins.  If it was at a dollar, that means you would have to give out a fairly large amount of BTC to get people actually doing it.  IE faucets would have to be around .001 per claim to make it even worth it.  I don't think the people who run faucets actually will be willing to give that.

Just random thoughts..

It is wrong, according to me, the concept and the aim of the thread. Bitcoin cannot go so down. Have ne sense. So, have no meaning discuss about the other things written below this supposition. At least for me. The only time that bitcoin fall (and hard) it was when its price was pumped before by MtGox. So was "victim" of a speculation. In all its story its price has been a continue increase (with the normal ups and downs but in few amounts). But the overall trend was the increase. Have no moening that this trend change now without having any reason. And when finally there are countries which have regulated it (read accepted and legalized).

Conclusion. It is impossible that some day bitcoin will be dead. It is the first of a new era. Cannot have such end.
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November 05, 2015, 01:49:49 PM
 #39

I think if governments around the world fuck up the internet then bitcoin will be screwed too.
I don't think it is in the interest of anyone or any government to screw up the internet. Most of the things are now internet connected, so rather it will be worse for them , and they have no reason to do so.

leex1528
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November 05, 2015, 03:31:30 PM
 #40

OP we won't ever go under a dollar I think and even of we do, that will probably be an end of Bitcoin so nobody will even care about faucets and signature campaigns anyway!

That is exactly what I am asking.  With a low price you are going to lose new people from coming to Bitcoin, you are going to lose miners because it just wouldn't be cost effective.  Lots of great responses here, some not so great and people seem to be just posting random nonsense. 
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