Quote from: pitiflin on September 06, 2018, 03:13:09 PM

You don't understand the point here. The price cannot drop forever, someone will try to make the price go up, because if they don't,everyone who has bought bitcoin at any point will go into a big loss. Miners won't be the main crowd that'd get affected, the investors would be the main crowd obviously.

Oh, but it can!!!
You think that BTC can't fail? You think that BTC will be alive forever?

At one point even it will be replaced by something else and forgotten, the only question is if it is going to happen in 10 years or in a hundred.

Quote from: pitiflin on September 06, 2018, 03:13:09 PM

If the price keeps going down, it would be implied that there's not enough demand for it, and the supply is more than the market demand. If there's no demand, the price won't fall,because no one will buy.

And anew Adam Smith is born.
If there is no demand the price will be 0 as people will try to sell lower and lower till they reach donation level.

Quote from: mjglqw on September 06, 2018, 03:03:26 PM

It's a mix of everything. Bitcoin's price crashes, some people are going to panic and some people are going to be excited with the low prices. There's no way to know which kind of person is larger in number. As for miners though, bitcoin was designed in a way that it will work regardless of what price it's at(besides zero, though zero is pretty much impossible).

In theory, it could work even with the price being 0 as miners would be replaced by hobbyists..but with what purpose would those still mine....

Quote from: megasynk on September 06, 2018, 03:30:49 PM

I don't think that the continous fall of Bitcoin below 6k is even possible. There is an extreme support on this price level due to all miners for wich going lower would be a financial disaster.

How can miners support the price when they basically produce more coins driving supply up and they need fiat to pay for their electric bills?