Thing is, everyone who joined after April and put money on the line is gambling. Especially people who bought coins when the price was above $15.00 and still haven't sold. Bitcoin for the masses is still totally new. Most of us got here when the price boomed from April $1 to June $30. Some started mining on a low scale, some went big, some started day trading on MtGox and some invested for the long run.

Since price ran up from April $1 to June $30 everyone who ever traded anything in their lives KNEW this was a bubble about to pop. When it did pop a smaller % of them KNEW bubble needs to deflate and we are still in this process today. You and I will agree on that. What we might not agree on is the future of the bitcoin. You as far as I read or understand, you think bitcoin has no future and price will plummet down to sub $1 and probably stay there forever, eventually it will die. Me on the other hand see a potencial in the future.

You might be right that bitcoin price will never reach $20 again, but that kind of speculation is just outright stupid to say. I figure you probably follow stocks and thing is that in most cases, like 85%+ you would be right. Once the stock ran its natural course it will most likely stay within a certain range forever. Not many run up exponentially for a while then totally collapse and run up again  in the near future. But bitcoin isn't a stock, its fundamentals are different. There is no trailing P/E we could associate it with or has earnings or profit margin or anything like that.

Bitcoin is not an investment, it's a trading vehicle designed to work regardless of it's price in fiat money. It's functionality doesn't change if its worth $1 or $100. People greed wants it to be worth more. Eventually bitcoin price will get low enough so fresh money added to the market will be able to meet up with the supply. I'm almost 100% certain that will ultimately happen. I think it will happen in the range from $1 to $5.

I won't start buying before $6.00. I would rather miss the whole thing and forget about bitcoins all together then buy above that price or EVER chase it higher. But that's just me. When/if I will start buying, I know already the whole plan, which I might fine tune as we go along, but I won't ever go outside my comfort zone. I know exactly how much I will buy, when, how much it will cost me and when I will/might sell. There isn't anyone who could influence me in a way that I would change my plan drastically. I would/will still read what people are saying but not react on it unless the price/volume tells me so. That's how I made money in the past and will do so in the future.