Of course it will not be one-day event. Course will fall for months... Ups! it does this now!
Erm, did you read what I wrote?
A possible counter argument would be that the exchanges can't make enough money at this rate so they will shut down.
You don't actually need exchanges. Of course they are good and important, but there are other ways to sell and so Bitcoins are not without value.
Value is NOT based on what someone will sell an item for, it is based on what someone will pay for it....
i.e. I can go out and fetch up some of my dogs crap and demand 1,000,000 BTC for it, but since there would be no buyers it still has 0 value (P.S. if someone does want to pay that much for my dogs crap just call me, free delivery on that lol)
Damn, my post was very short and simple. Still you weren't able to read it.
I never claimed it would be different.
The essential question is whether a point where there is no one willing to buy (and of course someone needs to sell it) Bitcoins.