Topic: Crash to $0.5 imminent. All bets are off. - page 2. (Read 5586 times)

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.

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!

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.

i suspect the actual "worth" is less than 1$ USD.
But honestly, long term growth should eventually catch up to where the bubble once reached. this low price of adoption makes it very cheap to buy in though, enough people notice, and the price is going to climb (it takes a few days for the money to reach the markets usually anyhow!)

"Haha, people said Bitcoin goes into a bubble at $0.5, $1, $4, $9, $14, $20, I'll merrily ignore warnings at $30"

I'm not saying I'm certain it won't drop further, but people on this forum really need to learn that old saying: a trend is a trend until it stops.

If we see $0.5, i can buy 20k BTC for 10k USD... that's hardcore. A factor 64 on the peak. I am aware the price was inflated even before, but given the publicity Bitcoin had in the meantime, we don't know what a Bitcoin is worth now. In any case, dropping back to an insanely low value seems unreasonable.

if i would not be a poor poor student, i would have bought another 35BTC today. but had no funds to do so

I actually found bitcoin at $4 cheap ,but now it seems we can get even cheaper

Actually, that is how the whole 'bag-o-soil' bussiness started.

I was an idoit when I bought back 30 BTC at $4 for a bounce play. Now I become a bagholder myself

+1+1 But it's totally in the correct position if i put it there (Potting soil, motocrosstrack, Mud wrestling, etc)

the internets disagree:
dirt [dɜːt]
n
1. any unclean substance, such as mud, dust, excrement, etc.; filth
2. loose earth; soil
3. (Engineering / Civil Engineering)
a.  packed earth, gravel, cinders, etc., used to make a racetrack
b.  (as modifier) a dirt track
4. (Mining & Quarrying) Mining the gravel or soil from which minerals are extracted
5. a person or thing regarded as worthless
6. obscene or indecent speech or writing
7. Slang gossip; scandalous information
8. moral corruption
do (someone) dirt Slang to do something vicious to (someone)
dish the dirt Informal to spread malicious gossip
eat dirt Slang to accept insult without complaining
treat someone like dirt to have no respect or consideration for someone
[from Old Norse drit excrement; related to Middle Dutch drēte]

Double !!
 

soil != dirt, sorry

actually:
http://www.google.com/search?q=bag+soil&hl=en&hs=Roo&channel=np&prmd=imvns&source=univ&tbm=shop&tbo=u&sa=X&ei=3zWcTpmtO8Sk-gbXwMG5BQ&ved=0CDcQrQQ

1 bag of dirt > BC
 

and it never stopped being true.

Funny, people said that about $13, $10, $8, $6, $5...you get the point.

doo, i have 35 BTC. lol. not 35000.

This is very true, I made a complete exit at around $4 which was a good move. Basically next day (today) there was a massive drop so it was good timing.

Now the problem is at what point to buy back, because I do believe that Bitcoin will recover in the long term. The thing is at dollar parity the maximum value of all Bitcoins is $7.5 million, which to me simply can't be "too much". And there is another point which is the fact that actually only around 1 million Bitcoins are actively traded in the exchanges, and less than 50% are traded at all. I don't remember the sources for these calculations right now but anyway.

Fact is that at dollar parity the actual worth of the economy is somewhere between 1 million and 4 million dollars, depending on how you calculate it. I think it would be significantly undervalued at that point. Calling $0.5 is in my opinion ridiculous, that will only happen if something drastic happens to Bitcoin itself.

Bitcoin is functioning and doing well, fundamentally, and odds are it will continue to function. A drop to $2 is something, but a drop below $1.5 and $1 is something else entirely. We're talking about very critical levels here. The $ amount needed to sustain a certain price level drops radically the lower we go.

The bottom is true demand and I say that the real demand is at least between the 1 and 4 million dollars in total which it would have to be at dollar parity to sustain that price level. My call is that somewhere between $1.5 and $2.5 is the critical level which will be sustained and this level will rise in the next 12 months when the real usage of Bitcoins increases.

Well, I will be buying in as much as I can if it really goes to 0.5

yes, sell, let me have your bitcoins for the price of dirt

Holding onto a depreciating asset just to feed your ego makes no sense.
People make bad decisions and mistakes all the time.

A winner can see when he made a bad decision & stop his assets from depreciating even further.