Re: I believe the price has nowhere to go but down and here's why I think so.

By the same token that your weak-minded friend was impressed that "a bitcoin" is "worth more than the dollar", we have idiots on CNBC saying things like "it's crazy that people are actually willing to pay $100 for just one of these bitcoin things". WTF!! Why can't people understand divisibility and percentages?

Don't be part of the problem!

Actually its more like why pay 100 Dollars for something that someone payed 1 Cent for three years ago?

Or worse why pay someone 100 Dollars for something that they bought for 1 Cent three years ago?
Of course that does only makes sense if you think there is someone who will pay you 10,000 Dollars in another three years.

Don't you be part of the problem.

You're right - my aunt was telling me how houses used to cost around £3000 where she lived. These days the same ones are worth around £500,000.

I'll wait till houses go back down to £3000 before I buy again.

Thanks for the tip.

Are you seriously comparing inflation over decades resulting in 16 fold increase to the 3 years of Bitcoin evangelism resulting in a 1000 fold increase?