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

[lindeanin]

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.

Never say never.

[Swordsoffreedom]

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.

Never say never.

Bieber ruined it for me

[termhn]

Yeah I highly doubt it will get to $5.00... at least while we still use the internet and computers.

[NBward6]

Given that the shutdown of Silk Road only dented the price of bitcoin for ~12 hours,  what do people think it will take for the bitcoin price to drop significantly?  A prominent government coming out aggressively against bitcoin?

[nahtnam]

Nope, not going to happen... Maybe it will go under 90 usd but probably nothing less...

[saif92]

No I don't think its happen nothing is impossible but its very difficult this will happen

[An amorous cow-herder]

Hmm, i´ll bite.
Whats the inherent value of Bitcoin?
I mean, even something like gold has a value for things aside jewelry, e.g. electrical contacts, basicly every pc has a small amount of gold in it.
Bitcoin can only be used as a medium to conduct a trade, nothing else. Only an electronic one at that. And it takes a while till the payment is confirmed.
So basicly, whats the incentive to use Bitcoin as a payment method instead of, say, Paypal?4

[dunchy]

Given sufficient time it will hit any real number

[fattypig]

Never!!! But if it does I would panic and sell all my Bitcoin and regret later.

[micheline]

It's possible: If the US$ enters hyperinflation and is then readjusted to represent $ 1 = 1 ounce of gold.

But this isn't likely to happen...

[fattypig]

Hmm, i´ll bite.
Whats the inherent value of Bitcoin?
I mean, even something like gold has a value for things aside jewelry, e.g. electrical contacts, basicly every pc has a small amount of gold in it.
Bitcoin can only be used as a medium to conduct a trade, nothing else. Only an electronic one at that. And it takes a while till the payment is confirmed.
So basicly, whats the incentive to use Bitcoin as a payment method instead of, say, Paypal?4

The inherent value right now for Bitcoin is quite high. But few years back its really cheap, I would say cheaper then fiats paper.

[blasthash]

I'll pose a scenario. Keep in mind this is speculative; it may never happen, that's not to say it can't, and it's not to say there aren't other routes for which this can happen.

As many of you know, supply and demand are proportionate concepts. One creates the other. A void in one creates a void in another.

If you've studied history, you know that the Wall Street crash that caused the Great Depression was caused by investor speculation that a mass stock drop would occur; they inadvertently caused it.

Bitcoin could go the same route, although by a different impetus.

As we all know, the difficulty is skyrocketing to the point of mining being absolutely inconceivable except by those with IMMENSE power.
There COULD (not saying will) be a point where the difficulty increase becomes so much in a single period, that it causes a significant amount of people to say "fuck this, I'm out". Those people may sell off their BTC, which if enough people decide to do so, will create a size-dependent drop in the value of BTC at that moment. At that point, the sell point is mainly at the mercy of the domino effect - if that drop puts enough of a fear of God into people that the value will free-fall, they'll do the same, and create a situation that if not curtailed by holders that recognize it, is much like a steamroller going down a steep hill with a faulty Jake brake.

It's unlikely and almost inconceivable to get to $5, though, because the main benefit of having a large, distributed network is that it takes a sizable amount of people to sell out to drop the value. This is inertia of a stock. You can better believe for the number of people panicking and selling off there will be an equal or greater number of people holding on to it, and that's why I can only see it dropping 50%, maybe 75% at max, in true market free-fall conditions.

[lambdaE]

It's unlikely and almost inconceivable to get to $5, though, because the main benefit of having a large, distributed network is that it takes a sizable amount of people to sell out to drop the value. This is inertia of a stock. You can better believe for the number of people panicking and selling off there will be an equal or greater number of people holding on to it, and that's why I can only see it dropping 50%, maybe 75% at max, in true market free-fall conditions.

I believe drop to $5.00 could only happen if anti-bitcoins laws are approved because of fear of laundering money. Bitcoin would still be used but there would be almost no demand and extensive supply thats why such low USD/BTC

[MAbtc]

I think the long term trend shows very hard support at slightly < 100 USD levels. On a volatile enough crash (and from the looks of this rally, which I think will go much higher, that may indeed happen), I think 90-150 USD is a good guess for the hard bottom.

[ajax3592]

Nobody know who is exactly buying the largest share of coins these days, there are market controllers in every trade. Price can certainly drop below $100 if any of those biggies kicks into action.

[panck4beer]

Crash Down To $5.00 is not likely, Down To $100.00 possible but many have ready USD to buy cheap around $100.00 in case a big crash happens

[aaronk]

Simple; never ever!

If Bitcoins ever crash that severely, they will become worthless. But with tens of millions of dollars being invested in ASICs, which only work for Bitcoins(*), it is hard to imagine such a drop in value.


* Sure, some alt-coins as well, but they are no better than Bitcoin.

They are better in the sense that they didn't award disproportionate wealth to the early adopters.

Bitcoin is like canadian currency in that the land barons who claimed this country started out with huge quantities of the currency by virtue of there being no one competing with them (claiming land as their own vs mining bitcoins before it was a thing)  and the activity being almost effortless (saying its my land and I'll kill you if you don't like that vs mining with difficulty of 1).

The result is a Lorenz curve for bitcoin that makes the US look equitable.

[blasthash]

It's unlikely and almost inconceivable to get to $5, though, because the main benefit of having a large, distributed network is that it takes a sizable amount of people to sell out to drop the value. This is inertia of a stock. You can better believe for the number of people panicking and selling off there will be an equal or greater number of people holding on to it, and that's why I can only see it dropping 50%, maybe 75% at max, in true market free-fall conditions.

I believe drop to $5.00 could only happen if anti-bitcoins laws are approved because of fear of laundering money. Bitcoin would still be used but there would be almost no demand and extensive supply thats why such low USD/BTC

Even that wouldn't happen in most universes. Knowing how resilient us Americans are about making our money, you'd watch the American BTC culture suddenly endorse the Euro. Suddenly every teenager who's ever mined would be reading the WSJ Forex sections.

[tspacepilot]

Gawd I hope not, at least not until I sell mine off.

[exstasie]

I don't think so. With the value of it right now closing in on $500, a reduction of say even 50% will cause an influx of BTC buying. I know if it dropped again I would be contributing to the surplus in buying at that price. I think we're past the point where to is too much demand from those who currently are invested in BTC and those new mainstream buyers who are entering the market.