Quote from: Supercrypt on August 11, 2016, 07:35:24 PM

Quote from: ripplehd on July 14, 2016, 09:38:01 AM

we've heard a bunch of times about fiat money and escalating problems. any reason for bitcoin to decline rapidly and all the online wallets closing down how will everyone fear the loss of bitcoins. It can happen because its the problem with real money its causing bitcoin to get blocked halfway.

I always think about this. Some people say if the bitcoin price goes down to 1$ then I will buy as many as I can afford, some people say if the price drops down to 1$ after all of this then it means there must be something wrong and definetly should be stayed away.

I realized I am in the middle of it. I will not sell everything I own and buy bitcoin if it drop down to 1$ but I will probably buy at least 100 of it. I think bitcoin won't decline that much, the price is what people say how much it is. Instead of fiat where goverments and finance sector decides how much 1$ is worth.

you can never give an answer like this to a general question.
the correct answer is "it depends" and in fact we are all acting that way too, but I don't know why people say I would buy or sell if blah blah happens!
sometimes bitcoin goes down because there is a panic going on like the recent hack, this can only cause a little dip. but your scenario needs a gigantic dip which can only mean something gigantically bad should happen to bitcoin like a flaw in which case nobody will ever buy bitcoin again.

it also works the other way too. if there is a slow rise like the normal past year, then there is no reason to sell unless you need the money. but if there is a bubble like the $780 then the only wise thing is to sell and buy back after the drop.