Do You Think The Price of Bitcoins Will Go Down To $5.00?

[ixoxo]

No way

If something new, much better comes it might just.

[crhys]

I would love to see the price fall to $5 per btc, would bulk buy a few thousand of them :-)


That's the whole point, when people buy the price goes up, just not sure why the price goes down though - when people sell somebody must be buying them.

[qwertyGuy]

 just not sure why the price goes down though - when people sell somebody must be buying them.

Maybe because sometimess there are more sells than buys When more sellers than buyers, sellers have to decrease the price they are willing to sell if they hurry to get USD

[himitsu7]

I can think of several situations in which the price of bitcoins could fall to $5.

1. Some sort of irreconcilable software bug. This sort of thing has happened before such as in the March 2013 chain fork and in August 2010, when a transaction was crafted to instantly allow for the creation of 184 billion bitcoins (see https://bitcointalk.org/index.php?topic=823.0). Both of these incidents were able to be resolved with the assistance of miners to revert the blockchain. Recently, there's also been the issue with bitcoins being stolen from android wallets due to faulty seeding of the PRNG. If incidents like this happen often enough or if one major incident occurs, the value of bitcoin will surely drop.

2. A flaw is found in the bitcoin protocol, or one of the cryptographic methods it relies on. If someone completely breaks ECDSA or SHA256 overnight, bitcoin will become worthless. This is quite unlikely though, and would have implications far beyond just bitcoin.

3. Major governments could outlaw the use of bitcoin. The main sites for bitcoin-fiat exchange (think mtgox, coinbase, bitstamp, campbx) could be taken down. Retailers could be legally prohibited from accepting bitcoins. Very quickly, the value of bitcoin would plummet.

4. Someone (most likely a nation state) performs a 51% attack on the bitcoin network.

Basically, something drastic would have to happen for the value to fall to $5. To be honest, it's easier to imagine bitcoins dropping to $0 rather than dropping to $5, at least in the short term.

[qwertyGuy]

3. Major governments could outlaw the use of bitcoin. The main sites for bitcoin-fiat exchange (think mtgox, coinbase, bitstamp, campbx) could be taken down. Retailers could be legally prohibited from accepting bitcoins. Very quickly, the value of bitcoin would plummet.

Its tough to restrict freedom. Why are still torrents available and not banned by law, where anybody can get practically every software for free without any risk?

[BM1980]

we hope it will not drop

[Pokerfan]

1 BTC = $5 would put the money supply below 100M USD. I'd think the community would not let it go so low!

[ASSASSINO]

no i didn't think so 

[mearylll]

1 BTC = $5 would put the money supply below 100M USD. I'd think the community would not let it go so low!

+1
Unless something unexpecting bad happens...

[hasher87]

its simply supply/demand

if one couldnt care less about bitcoin anymore, the value would surely drop to $5

as of know, i highly doubt it 

[pokerFace2]

1BTC = 1BTC, and considering the dollar inflates nicely, $5.00 will mean nothing in 20-30 years. So yes, if bitcoin falls the price will be bellow $5.00

[roflmao129]

Everything can happen but with the hype on bitcoins right now the fall to 5$ would take a few years in my opinion.
People investing really hard on bitcoins. Might drop big but to 1/25 of its value is pretty unlikely!

[tearfereon]

Everything can happen but with the hype on bitcoins right now the fall to 5$ would take a few years in my opinion.
People investing really hard on bitcoins. Might drop big but to 1/25 of its value is pretty unlikely!

Well I believe if the drop happens, it will be very quick instead...

[Light]

Well I believe if the drop happens, it will be very quick instead...

A large drop will only really happen if for some reason we get a bubble and it bursts, and even then if history is anything to go by it won't drop to anywhere near $5.

[smoothie]

No. But anything is possible.

[freakying99]

Well I believe if the drop happens, it will be very quick instead...

A large drop will only really happen if for some reason we get a bubble and it bursts, and even then if history is anything to go by it won't drop to anywhere near $5.

When it gets proved NSA can redeem any private key from any address, we will see under $1 very fast

[saif313]

No I don't think this will happen in near future 

[qwertyGuy]

No I don't think this will happen in near future 

But it will happen eventually if we wait long enought

[Professor James Moriarty]

 It will never happen , I mean with all this people saying ' I would buy a bunch of it if it did' the price will never go back that much , not for hundreds of years. Inflation on the other hand is something else . So basically yes it wont be 5 dollars , but it will be something worth of 5 dollars today. Like you can buy a 12 pack coca cola with 5 dollars now? you will be able to buy that with 1 coin but it will be somethign like 50 dollars due to inflation.

[pokerFace2]

 It will never happen , I mean with all this people saying ' I would buy a bunch of it if it did' the price will never go back that much , not for hundreds of years. Inflation on the other hand is something else . So basically yes it wont be 5 dollars , but it will be something worth of 5 dollars today. Like you can buy a 12 pack coca cola with 5 dollars now? you will be able to buy that with 1 coin but it will be somethign like 50 dollars due to inflation.

This. I believe the OP mean value of 5 dollars today.