Quote from: SgtSpike on October 18, 2011, 06:24:41 AM

Quote from: nmat on October 18, 2011, 06:09:16 AM

Quote from: Minsc on October 18, 2011, 05:52:08 AM

Question is: Where is the bottom?

That's what we all want to know. Pre-gawker volumes mean price under $1, but I think that is too low. My bet goes to $1.5/$2.

Everyone said the same thing at the $16 price level, the $11, $7, $5, and $3 level. I don't hold out too much hope of mining profitability in the near future.

Of course, given that I heat with straight up electric coils, I'll be using miners come winter weather. It wouldn't make sense not to, no matter what the price is.

I don't think mining profits are important here. We didn't have a buying force strong enough to sustain the price at higher levels so what we need to find out is how many people are actually buying bitcoins because they need it and not because of the "curiosity bubble". These people will keep the price from crashing for months to come (until the next press hit shows up).