Crash to $0.5 imminent. All bets are off.

[Shinobi]

You forget that we have a ways to go before reaching the 21M minting cap. There is nothing but hyperinflation below that point, unless some super serious money comes into the market - which won't.

[Nesetalis]

no, not hyperinflation... the end of the year it drops down to about 3500~ coins per day.. a while after that, 1750~... if there are more people buying than are produced, suddenly you got deflation, as we saw when silk road was published all over the web. Then new people stopped coming, and guess what? the trend toward inflation continued.
This here looks like panic sells... selling your money while its worthless? BRILLIANT!

[Mageant]

If it drops to $0.5 I will scrape together every bit of $ I have through selling stuff and borrowing and will be able to buy *thousands* of Bitcoins easily!  That would actually be pretty cool, since I missed out on early adopter prices.  I think that many other people like me could do so too, so probably it wouldn't go that low. Every geek could afford to buy significant amounts of bitcoins then.

[netrin]

You forget that we have a ways to go before reaching the 21M minting cap. There is nothing but hyperinflation below that point, unless some super serious money comes into the market - which won't.

We have actually experienced hyperinflation (Cagan, 1956) the past month even if you throw out the two days with the highest and lowest prices. However, the depreciation can not be attributed to monetary inflation. The bitcoin supply increases 0.1% daily, while we've experienced 1.5% daily depreciation since June. The effect of monetary inflation (mining supply) is orders of magnitude less than fluctuations in demand and volatility.

In other words, we'd need to be mining fifteen times as many coins before supply were a significant factor in exchange price. We'd need to generate a block every 45 seconds or 750 coins per block.

[the founder]

this hurts my 35 BTC 

but now i don't sell for sure, anyway to late.

somewhere someone has pushed a shiiiitload of BTC into the market..

There's 7200 new ones every day so yeah...there's a lot coming in and not enough interest for them. 

You're not allowed to say that...  you are supposed to say that what Satoshi built was perfect and has no error...  even if we print faster than Zimbabwe used to.

 

[netrin]

Why do you enjoy spreading bullshit? Bitcoins are not produced at a higher rate than ANY national fiat currency that experienced hyperinflation by orders of magnitude!

[Torque]

Funny.  I still can't get over the fact that 99% of the posters on these old threads are still on bitcointalk, but no longer bother to post in the Speculation subforum.

So what does that tell us?  

_{(And before you say the obvious "Well, because they're rich now!", no.  Just NO.  95% of them are not in the slightest, they pissed most of it all away years ago.  If they were bitcoin rich, they wouldn't bother logging in to bitcointalk at all.)}

[fonsie]

You forget that we have a ways to go before reaching the 21M minting cap. There is nothing but hyperinflation below that point, unless some super serious money comes into the market - which won't.

priceless 

[r0ach]

_{(And before you say the obvious "Well, because they're rich now!", no.  Just NO.  95% of them are not in the slightest, they pissed most of it all away years ago.  If they were bitcoin rich, they wouldn't bother logging in to bitcointalk at all.)}

Yep, that part is true.  One of my friends had something like 1600 and sold them all for $2 each.

[TheNewAnon135246]

_{(And before you say the obvious "Well, because they're rich now!", no.  Just NO.  95% of them are not in the slightest, they pissed most of it all away years ago.  If they were bitcoin rich, they wouldn't bother logging in to bitcointalk at all.)}

Yep, that part is true.  One of my friends had something like 1600 and sold them all for $2 each.

Haha I bet you give him a hard time over that every now and then .

[DjPxH]

You forget that we have a ways to go before reaching the 21M minting cap. There is nothing but hyperinflation below that point, unless some super serious money comes into the market - which won't.

priceless 

Are you the same fonsie that's spelled 'fonzie'? The one who is a newly converted bull and used to be a perma-bear? Things are starting to become a bit confusion around here!

[rocks]

If it drops to $0.5 I will scrape together every bit of $ I have through selling stuff and borrowing and will be able to buy *thousands* of Bitcoins easily!  That would actually be pretty cool, since I missed out on early adopter prices.  I think that many other people like me could do so too, so probably it wouldn't go that low. Every geek could afford to buy significant amounts of bitcoins then.

Love this, $4 BTC considered as missing out on the early adopter phases and $0.50 BTC as the go all in price.

Just remember, we have several more magnitudes of order to go in adoption. In 2020 $500 BTC will be considered unfair early adopter prices.

[bassclef]

_{(And before you say the obvious "Well, because they're rich now!", no.  Just NO.  95% of them are not in the slightest, they pissed most of it all away years ago.  If they were bitcoin rich, they wouldn't bother logging in to bitcointalk at all.)}

Yep, that part is true.  One of my friends had something like 1600 and sold them all for $2 each.

Haha I bet you give him a hard time over that every now and then .

Considering he'd be a millionaire with that amount today, probably not a great idea to rub it in.

[Mageant]

Funny.  I still can't get over the fact that 99% of the posters on these old threads are still on bitcointalk, but no longer bother to post in the Speculation subforum.

So what does that tell us?  

_{(And before you say the obvious "Well, because they're rich now!", no.  Just NO.  95% of them are not in the slightest, they pissed most of it all away years ago.  If they were bitcoin rich, they wouldn't bother logging in to bitcointalk at all.)}

I'm still here and still have a significant portion of my Bitcoins.

[giveBTCpls]

Fuck sakes. This really fucks with my mind big time. Seeing all these old posts it's like a double edged sword. In a way, I feel extremely depressed about the fact I wasn't lucky enough to be on a position to be aware of Bitcoin and invest slash mine these when it was worth peanuts. At the same time, I feel like maybe in 10 years I can laugh at the posts that said 10K per BTC is impossible while BTC is about to hit 11K 

[Wandererfromthenorth]

Fuck sakes. This really fucks with my mind big time. Seeing all these old posts it's like a double edged sword. In a way, I feel extremely depressed about the fact I wasn't lucky enough to be on a position to be aware of Bitcoin and invest slash mine these when it was worth peanuts. At the same time, I feel like maybe in 10 years I can laugh at the posts that said 10K per BTC is impossible while BTC is about to hit 11K 

BTC is still in very very early stages so it is possible.

[giveBTCpls]

Fuck sakes. This really fucks with my mind big time. Seeing all these old posts it's like a double edged sword. In a way, I feel extremely depressed about the fact I wasn't lucky enough to be on a position to be aware of Bitcoin and invest slash mine these when it was worth peanuts. At the same time, I feel like maybe in 10 years I can laugh at the posts that said 10K per BTC is impossible while BTC is about to hit 11K 

BTC is still in very very early stages so it is possible.

I hope so, I hope i can visit this thread 10 years from now in tears of joy :') I will be 35 by then but if im rich that will make up for being old. Oh fuck, please 10K please 10k 

[ArticMine]

There, i said it.
 

This was a mere 13 days after my first BTC purchase at a price of 5.38 CAD. According to this advice I should have panicked and sold, instead I held. 

[zakalwe]

I follow btc since 2011 bubble but I bought some in September 2012 at 10.20$

Then I switched to LTC at .012$

The only way for both btc and LTC is up. No matter fluctuation in short time, if you watch the picture in middle time (1-3 years) it will go up and up. How high? Difficult to say. But this is why I'm sure about it:

- mining difficulty grows fast, it's more and more expensive to mine them both;
- international crisis (defaults, wars, banks crisis....sigh, reading my words makes me feel bad, but this is the world we're living in)
- wider adoption


Being used for fast and cheap medium of exchange and as a value store makes them the best choice as an investment.

Oh, I'm an hodler.

Except for those I used to buy two cars, one house (in Berlin, not here in Italy) 6 ASICS (Titan, I still have to receive them. I know, don't tell me nothing. But I did it because I was curious), and found a start up as incubator and crowd funding portal (which I hope will be online in October)

[piramida]

I will be 35 by then but if im rich that will make up for being old.

Old? Oh shut the fuck up you can't yet appreciate even 10% of what life has to offer 35 is not old, it is the end of preparation and beginning of life

As for the topic, this threads make me sad as I, together with other silly posters here, thought "just let it hit sub-$1 prices I'll be so buying all then" instead, of course, of buying all at $3 or $5 or even at "damn overpriced no way this price is going to hold" $17