Quote from: Spaceman_Spiff on March 25, 2015, 09:18:00 AM

Quote from: Bitcoiner_cph on March 25, 2015, 09:13:17 AM

Quote from: Fatman3001 on March 25, 2015, 09:11:44 AM

Quote from: zcxvbs on March 25, 2015, 09:09:38 AM

Quote from: mah87 on March 25, 2015, 08:58:59 AM

bitcoin is overrated and overpriced

For now though, yes it is, maybe Bitcoin should go under $100 and stabilize the price. But if it goes too low, the miners will become unprofitable and they will leave.

Miners will leave well before $100

What happens if the price go under 100 dollar, will miners leave and bitcoin die???

Stop thinking in absolutes. Some miners will leave, mining difficulty will drop and the remaining miners will become profitable again...

A lot of miners are stretched pretty thin as it is. If it drops below $100 dollars a huge part of the network will probably turn everything off within a short time frame. Electricity cost is not all they have to worry about. Capital costs, rent and salary makes this piece of math more difficult. And if it's timed wrong this could result in a month or more of really slow transfer speeds with 20-30min on average between blocks, and several hours in individual cases. Bitcoin will muddle through, but if that happens the price will probably drop further. Ie. there are no "cheap coinz" in the $60-140 range.