If bitcoins crash to say 20USD, will speculators lose faith and abandon it? Or would they just buy up as much as they can, correcting the market, and reinitiating the volatile trend towards whatever value the market might peak (and potentially stabilize) at?
It seems that most of the market relies on a sense of trust. A trust that bitcoin will establish itself as a new currency--and if it does, a "crash" isn't even the right word, let alone a feasible scenario. It'd really just depend on the rate of integration. As long as we, as a society are willing to allow btc and fiat to coincide, it's just a matter of innovation
...but this all sounds a bit too revolutionary to me? Like it's impossible for this to fail. Think of how the internet's developed thus far: a means of archiving (google), social networking (facebook), media/entertainment (youtube, hulu, netflix), transaction methods (paypal), marketplaces (amazon, ebay, newegg) and eventually a currency integrated directly? (btc). In the development of the internet, there's a pattern of needs that arise and means that fulfill those niches, all of which have become absurdly successful.
How are you interpreting this? I'm having a rough time trying to fit this all within the right perspective.
A crash happened before in 2011, I don't see Bitcoin simply disappearing after a crash. It will be around for a very very long time.
