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Author Topic: How low can bitcoins go?  (Read 1526 times)
Bit Troll
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August 06, 2011, 03:39:11 PM
 #1

How low do yout hink bitcoins can actually fall? I do know that they can fall to almost zero, but lets just say how low can they fall based on current market conditions.
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mtcmanager
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August 06, 2011, 03:55:51 PM
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It's hard to say how much they can fall. I think bitcoin may fall to even 1$ as it was before first bubble, because falling course scares most of these speculators. But it's only my opinion.
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August 06, 2011, 03:56:24 PM
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Well, when you think a few years back it was at <$1

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August 06, 2011, 04:00:46 PM
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Bitcoins only have value due to their function as a wealth transfer mechanism. If you look at the wealth being transferred, you can derive a theoretical minimum price for bitcoins based on the fact that there is a minimum 1 hour transfer period. If a person buy bitcoins for $x, transfers, and then the receiver immediately sells for $x, there is that 1 hour transfer period where there's more demand for bitcoins than supply. So, what is the minimum value of x?

According to bitcoinwatch, 17,738.09 bitcoins were sent per hour on average. At a price of $8.30924, that means $147,390.0469516/hr was transferred on average. If there is a 1 hour transfer period and no one holds bitcoins for any additional time ever, then that is the value of the entire bitcoin economy. Since there are 6,993,100 bitcoins, that translates to $0.021/bitcoin.

Of course, a few weeks ago it was $0.094/bitcoin - there were more bitcoins transferred per hour (45,744.18) and the price was higher ($14.02).

This doesn't take into account transfers made outside of the bitcoin protocol.

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Beta-coiner1
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August 06, 2011, 04:02:13 PM
 #5

Don't know,but It is currently a botnet !!


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NothinG
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August 06, 2011, 04:04:58 PM
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Don't know,but It is currently a botnet !!


I've already made a thread about this.
https://bitcointalk.org/index.php?topic=33949

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August 06, 2011, 04:38:46 PM
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I hope it reaches $0.001 so all the people who think BTC is just a way to make USD will go away.

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August 06, 2011, 05:19:04 PM
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I am forex speculator and I just about know how much bitcoin will fall.
Take these factors into consideration first:
Bad News on Bitcoin Exchange and Users (Security Breach, etc..)
No Market Value (you can only buy drugs and web services (maybe socks too?), you can't buy house, car, land, or food)
Druggies don't have money due to bad economy
Hackers and Scammers are failing with their schemes due to more awareness and protection
Lack of Speculators (like myself, who are willing to invest in bitcoins)
NO CENTRAL BANK (which is needed to stabilize the value of bitcoins that is why you see mega big jumps and mega big lows) 

Taking into account the risk involved in ANONYMITY (you can't trace or retrieve stolen coins) and all the factors listed above, the Bitcoins will fall as low as FOUR dollars. At the WORST, this currency will dissapear because people can simply lose faith and stop trading the currency. However, seeing that there are many senior and loyal bitcoin miners in this forum, and as long as Silver Road website stay up (which government is working to shut it down), I doubt for now, that Bitcoins will become obsolete. In the Long Run, Bitcoins will go away or stay at REALLY LOW price until there are new ways to spend the coins in purchasing tangible asset.

MY ADVICE TO NEWBIES:
STAY AWAY

Cool story.

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August 06, 2011, 05:34:23 PM
 #9

they can go as low as you think they can go

think about it
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August 06, 2011, 05:39:07 PM
 #10

I hope it reaches $0.001 so all the people who think BTC is just a way to make USD will go away.

This would cause more people to buy them and therefore raise the price and make USD

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August 06, 2011, 05:39:35 PM
 #11

they can go as low as you think they can go

think about it

rubber spoon rubber spoon rubber spoon rubber spoon

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August 06, 2011, 05:40:38 PM
 #12

I hope it reaches $0.001 so all the people who think BTC is just a way to make USD will go away.

This would cause more people to buy them and therefore raise the price and make USD

 Angry Way to let everyone onto my plan.

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August 06, 2011, 06:29:16 PM
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I hope it reaches $0.001 so all the people who think BTC is just a way to make USD will go away.

This would cause more people to buy them and therefore raise the price and make USD

 Angry Way to let everyone onto my plan.

Dude...You won't be buying the coins when the price drops to $0.001. You simply won't have the confidence.

You're kdding, right?  1000 BTC for $1?  I think that's a risk I'd be extremely confident in taking.

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August 06, 2011, 06:30:41 PM
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I hope it reaches $0.001 so all the people who think BTC is just a way to make USD will go away.

This would cause more people to buy them and therefore raise the price and make USD

 Angry Way to let everyone onto my plan.

Dude...You won't be buying the coins when the price drops to $0.001. You simply won't have the confidence.

You're kdding, right?  1000 BTC for $1?  I think that's a risk I'd be extremely confident in taking.

Exactly.

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August 06, 2011, 06:32:20 PM
 #15

Dude...You won't be buying the coins when the price drops to $0.001. You simply won't have the confidence.
Why wouldn't you? For $1, you could get 1000 of them. For $10, you could get what a month ago was $200,000 worth of bitcoins. If the price recovered, you'd make a ton of money. And if not, you're only out $10.

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August 06, 2011, 06:36:03 PM
 #16

Guys, don't feed trolls

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August 06, 2011, 06:43:50 PM
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Guys, don't feed trolls

I'm trollin' trolls.

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August 06, 2011, 07:42:12 PM
 #18

Someone above said that bitcoin has no use, and is therefore worthless.

Its use is as a means of transaction. i.e. a method of payment. more than that it is a system of payment that is not controlled by any one person or organisation. therefore it cannot be created infinitely at the whim of a few economists and bankers as can fiat currency, there is no debt involved in creating it, it is instant (apart form the time it takes to confirm), your earnings in BTC cannot be taxed, your earnings in BTC cannot be traced. 

I imagine a time when people started using paper money and the nay sayers would have been saying, "ha, thats not real money, you can't pay for goods with a promise, show me the gold"

and here we are today with the world financials sytems operating on pieces of paper stacked ready to tumble like a house of cards. each piece of paper a promise of debt. The debts owned by the banking cartels, who are waiting for the repayments of the debts by your blood, sweat ands tears and the blood sweat and tears of your children and your childrens children.

so the fiat currency that we use today has more practical use at the present time but its value should be recognised for its dsigraceful corruptions of societal and individual welfare and liberty.

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August 06, 2011, 07:43:43 PM
 #19

Guys, don't feed trolls

I'm trollin' trolls.

I would like to direct both of you to this thread I posted.  https://bitcointalk.org/index.php?topic=34921.0

malbritten
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August 06, 2011, 08:18:07 PM
 #20

Guys, don't feed trolls

I'm trollin' trolls.

I would like to direct both of you to this thread I posted.  https://bitcointalk.org/index.php?topic=34921.0

Now you trollin the trolls who troll the trolls. You troll you.

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