Quote from: error on August 03, 2011, 09:16:11 PM

Quote from: tomcollins on August 03, 2011, 08:53:10 PM

Quote from: error on August 03, 2011, 08:33:16 PM

Panic selling from irrational people. Buy them while they're cheap

This only works if you can find someone to sell them to at a higher price, or buy something useful with them.

The irrational people are the ones who expected this to hit $1000. They didn't realize that it was just a few rational people riding it up, and were rational enough to get out once the new money stopped coming in.

I can always buy something useful with bitcoins. There are plenty of merchants out there.

As for $1000, I don't expect to see that anytime before 2020. Though I could be wrong.

Can you buy something useful cheaper (or more useful) by using Bitcoins (if the value is dropping)? If no, then you are doing it wrong.