Am I the only one to find it humorous that permabulls only think price matters on the way up?
Trader mentality.
Microsoft doesn't care about BTC price, neither does immigrant sending money back to his/her country, or the people dealing on silkroad 99.0, nor the tippers (well to small degree). Non of them carry the currency risk. At what point the demand for these use cases will meet supply who knows, but it's hard to argue that there won't be any new use cases.
Traders and miners are getting slaughtered though.
I don't think seasoned traders are getting slaughtered to be honest. When there's blood on the streets, there's money to be made. The biggest risk is, in the event of a panic, getting your gains out and trusting the exchanges not to shut down with your dividends.
