You say that like it's a good thing
I'm not interested in bitcoin for the promise of 1000X returns and I'm not particularly tied to this blockchain over new blockchain technologies that might emerge. I'm interested in a viable cryptocurrency for the future.
So whether it goes down in price or not is fairly immaterial to me (at some point I'll shut off my miners, but that's my only concern).
Personally I think bitcoin has a lot to gain from going back "underground" for a year or so while more client programs and infrastructure emerge.
I think the price of bitcoin will eventually reflect its usefulness, but I dont think its usefulness is tied to its price, especially as a pure medium of exchange, which is what I'm most interested in it as.
my thoughts *almost* exactly - as long as bitcoin, or it's cryptocurrency replacement, becomes widely accepted and trusted, yet remains decentralized and distributed! that's what I'm most hungry for.
*(somewhat off-topic rant coming in 3... 2... 1...)
the globalization or conglomeration of economies that has taken place over the last few years is exactly the opposite way to go.
the whole reason they built the internet in the first place was to have a robust, heavily redundant, network of communication ( see http://en.wikipedia.org/wiki/ARPANET
when you begin to centralize (which is the way we've been going) you introduce a singular point of failure (also a singular point of control, which is the main goal of the global banksters)
after seeing first-hand the dangers of over-centralization in the bitcoin world, we should be pushing for more decentralization in all aspects of our global society. I'm not talking total anarchy here, but I think we need to start moving away from this ever-growing concentration of power at the federal level (and beyond that, the growing consolidation of power from forming the G8, G20, "super-congress" <- lol) and move back to more power at the state (province if you're a canuck
) and municipal levels... and we need to begin with the currency, or rather the people that control the currency; because it is they, not the governments, that are now controlling the world.
-- sorry for rant. just brainstorming here, throwing some ideas out there.