What will you do if bitcoins drop to $5 but hold very steady there for the next two years.  Assume that the bitcoin economy grows, slowly and steadily, all that time and that mining remains profitable, but only marginally so as difficulty adjusts as soon as more GPU power comes online.

(1) Late-arriving speculators will leave for some other market with more action.

(2) Casual miners will quit because the returns won't be worth the hassle -- heat and noise of mining and capital sunk into rigs.

(3) Entrepreneurs in the bitcoin universe will be happy, as will mainstream vendors.

(4) True believers will be thrilled as the currency takes hold knowing that bitcoin will eventually upend the existing structures of commerce and government.

What's your reaction?  And which of (1)-(4) are you?