Topic: How Low Does Bitcoin's Price Need Get to Make People Stop Believing? - page 2. (Read 6918 times)
May 07, 2015, 03:31:51 AM
Well as low as it can go whilst still being profitable for miners to keep on mining, that's how low before we're in trouble. Personally I don't mind the fluctuations currently as I see them as growing pains whilst bitcoin, but the biggest problem with this is to many outsiders it looks bad and that's why many are worried about getting involved or wondering why they should take the risk. My only hope is it wont always be this way but I'm unsure of that myself.
May 06, 2015, 04:13:22 PM
If the price of bitcoin reaches $100 or less people will stop believing in bitcoin for sure and will diversify themselves to some other investments. But likely, it's not possible that bitcoin will go that lower and believing that it would reach at all time high value in future.
May 06, 2015, 03:33:35 PM
Even if it does drop to the price of a dollar, there are other currencies that cost less than 1 USD, and others more. It would be just like every other currency in the world. Besides, the blockchain technology can still be used for many other things that will make you more money. I would definitely still be a fan of Bitcoin and the blockchain even if the price is super low.
That is really good to know.
It's nice to know that there are true Bitcoin supporters.
I have one question though: Do you own any Bitcoins?
May 06, 2015, 03:26:01 PM
Bitcoin is better and cheaper than other options, specially if you want to send small(or not so small, depending where you live) international payments.
If you bet that 2+2=4 while all others say that 2+2=5 you will win, even if it takes a long time
If you bet that 2+2=4 while all others say that 2+2=5 you will win, even if it takes a long time
May 06, 2015, 02:26:05 PM
I would prefer to go with bitcoin even if the prices are going lower at this stage. I will wait for the future and I believe prices would raise in the future and you can atleast make some profit out of it rather then selling at this stage I think the value to bitcoin would be stable in future.
May 06, 2015, 01:16:36 PM
If miners can't make a profit, there will simply be less miners, and then at that time, they'll be able to make a profit again.
There is a problem if it's so unprofitable that there are only a few miners left, and then a 51% attack can be executed cheaply.
I think it's not so much about the price as about transaction volume. If the volume lowers significantly, I think people really have stopped believing.
There is a problem if it's so unprofitable that there are only a few miners left, and then a 51% attack can be executed cheaply.
I think it's not so much about the price as about transaction volume. If the volume lowers significantly, I think people really have stopped believing.
May 06, 2015, 05:42:18 AM
Genuine Followers of bitcoin will never let their faces off from bitcoins. Because everyone knows that future of bitcoin is safe I am talking of those people who have patience and looking for long term investment am still 90% of population is not aware about bitcoins. So its too early to reach at any decision.
I'm a massive fan of bitcoin, first and foremost because of the technology and political ramifications of it, but I also like the possibility of being able to make a little money from it in the future (not to get rich or anything but financial comfort is always nice), but I don't think it is 'safe' as you suggest. Bitcoin being what it is there's always going to be some weight placed on the value, but if people buy coins and they keep losing money or the miners can't afford to keep mining because of the low price then this is a huge problem (yes, not really bitcoins fault but the economy that has been built around it) and because of this the value of a bitcoin is still an issue whether you're a speculator or a 'true' believe in bitcoin in my opinion.
May 06, 2015, 05:25:54 AM
Even if it does drop to the price of a dollar, there are other currencies that cost less than 1 USD, and others more. It would be just like every other currency in the world. Besides, the blockchain technology can still be used for many other things that will make you more money. I would definitely still be a fan of Bitcoin and the blockchain even if the price is super low.
That is really good to know.
It's nice to know that there are true Bitcoin supporters.
I have one question though: Do you own any Bitcoins?
May 05, 2015, 08:19:57 PM
Even if it does drop to the price of a dollar, there are other currencies that cost less than 1 USD, and others more. It would be just like every other currency in the world. Besides, the blockchain technology can still be used for many other things that will make you more money. I would definitely still be a fan of Bitcoin and the blockchain even if the price is super low.
May 05, 2015, 07:58:56 PM
At around a 100 dollars the cost of mining would be to much and the network would collapse so somewhere around their I would say.
May 05, 2015, 07:58:19 PM
Genuine Followers of bitcoin will never let their faces off from bitcoins. Because everyone knows that future of bitcoin is safe I am talking of those people who have patience and looking for long term investment am still 90% of population is not aware about bitcoins. So its too early to reach at any decision.
October 07, 2014, 11:10:15 AM
How far does the fiat system have to stretch itself out of shape before it finally destroys itself forever. Then Bitcoin will rule, maybe even over gold and silver.
October 07, 2014, 10:28:58 AM
There's nothing wrong with it, I just think it's ridiculous that some people on this forum expect the price to go their way 100% of the time lol 
Yeah, that's true. That is the very first lesson life should have taught them. You don't always get what you want.
October 07, 2014, 08:51:24 AM
smart people buy low ... and never sell until 5 years.
October 07, 2014, 08:46:33 AM
There's nothing wrong with it, I just think it's ridiculous that some people on this forum expect the price to go their way 100% of the time lol
October 07, 2014, 08:31:26 AM
Speculators won't make as much money as they think they will if they trade Bitcoin, use it as a currency, the problem is everyone here is clearly trying to trade on the price swings rather than actually earn coins without screwing themselves over.
And what's wrong with trading on the price swings?
The only people making any money on Bitcoin without a massive time or equipment investment are speculators and criminals. At least day traders don't have to worry about the police knocking on their door someday.
October 07, 2014, 08:12:48 AM
Speculators won't make as much money as they think they will if they trade Bitcoin, use it as a currency, the problem is everyone here is clearly trying to trade on the price swings rather than actually earn coins without screwing themselves over.
October 07, 2014, 08:07:56 AM
How Low Does Bitcoin's Price Need Get to Make People Stop Believing?
That's easy. $0 and stays at $0 or less than $0.
No Bitcoin value, no more miners, no market, no more transacting, no more development, no more protocol/currency.
If Bitcoin essentially dies, then people will stop believing and move on to the next one...Bitcoin 2.0!
That's easy. $0 and stays at $0 or less than $0.
No Bitcoin value, no more miners, no market, no more transacting, no more development, no more protocol/currency.
If Bitcoin essentially dies, then people will stop believing and move on to the next one...Bitcoin 2.0!
October 07, 2014, 07:55:27 AM
I am guessing people will get upset and bail if bitcoin drop to below 100 again.
October 07, 2014, 07:30:47 AM
Someone has just dumped 27K of BTC!!!! thats a big sell order!
Could be a good time to get cheap BTC!
Could be a good time to get cheap BTC!
That is a very optimistic interpretation
Well its pretty cheap now dont you think?
I don't think anything over $300 is cheap. Especially not today. 30,000 btc dump would crush the market
30,000 BTC was dumped a day or 2 ago in a single sell wall at $300, it did not crush the market #lulz.
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