Topic: If everyone is hodling, how can bitcoin be used for mass adoption? (Read 403 times)
holding still remains the best approach to enhance hike in prices in crypto, hodl creat scarcity which in turns increases demand vis a vis the price of such commodity. For the continual survival of the crypto space, the hodl strategy must be fully utilize.
July 01, 2019, 11:29:41 AM
Its impossible for everyone to be a holder, there will always be some people buying and some selling, I used to make lotta mouth back in the days that I won't ever sell my bitcoin but I break that promise when Im in needy ,the fact is only those that are already very rich can hold bitcoin now for long term
July 01, 2019, 06:32:48 AM
We can still use bitcoin as investment place because it will be worth rather than we use it as payment system. Seems like altcoins are suitable to be use for payment system since there are a lot of stable coin. As we know stable coin is same with money fiat and everyone will be understood to be use it. I doubt with bitcoin it can be use as payment system by its user, because its price has been high and fee per transaction is really high also the metter of processing per transaction need a long time .
SegWit & Lightning are the answers on processing fee & speed, so, in the future there will be more and more improvements, so, it will be more comfortable to pay with BTC
July 01, 2019, 06:28:45 AM
We can still use bitcoin as investment place because it will be worth rather than we use it as payment system. Seems like altcoins are suitable to be use for payment system since there are a lot of stable coin. As we know stable coin is same with money fiat and everyone will be understood to be use it. I doubt with bitcoin it can be use as payment system by its user, because its price has been high and fee per transaction is really high also the metter of processing per transaction need a long time .
July 01, 2019, 05:55:36 AM
You misunderstood the conception here. Everyone is holding but they are cashing it out, withdrawing it to buy stuffs using bitcoin payments, etc. This may enter the mass adoptation now. Yes, we are holding but when the target profit or the goal profit was reached, it is now time to decide whether to use and spend it. Or buy another btc for investment.
June 04, 2019, 10:51:23 AM
The concept of hodl and spending of bitcoin is one of the beauty of bitcoin itself. I don't think the adoption of bitcoin as a currency would be delayed due to the number of people holding it rather than spending it, remember these coins have lots of decimals hence they can be broken into very little fractions, it means the few once in circulation is capable of covering lots of ground in terms of needs from the populace. In addition, holding has advantage in the sense that the more the number hold by people the few the number we have circulating and if demand should exceed supply hence there would be a surge in price which will in turn be beneficial to all involved.
June 04, 2019, 10:34:40 AM
Simple, you can use a fraction of a bitcoin, like 1k satoshi. If everyone holds, the fraction will be more valued. There's no relation between the mass adoption and holdig. In fact, holding is the key to have bitcoin another ATH.
June 04, 2019, 09:31:18 AM
Hodling BTC is not an issue for mass adoption, it is it`s popularity,reliability, and stability that must be strengthened so that people will get amazed and be willing to adopt how BTC or crypto works. If this things will happen, the demand for BTC will get high, if that happen then maybe even 1 satoshi will worth big. 1 BTC is made of 100 million satoshi, meaning BTC`s supply is not really just 21 million if you consider satoshi.
June 04, 2019, 07:33:25 AM
The fact is not all people hold it but most people hold it,right ?
Yes, people usually want to invest on something cheap but profitable although it's very risky.
When people still invest on crypto, there must be X factor that able to attract people !
Yes, people usually want to invest on something cheap but profitable although it's very risky.
When people still invest on crypto, there must be X factor that able to attract people !
June 04, 2019, 06:59:49 AM
you can't say "everyone" is like this because you don't know and you have not actually asked everyone! there are lots of people that are spending their bitcoins and if you look at some of the stats that these payment processors release you can see what I mean. for example Bitpay is always releasing a huge yearly growth in both the number of merchants they added to their network and also the amount of money they have processed which is exactly the money that people are "spending" through their services. and that is in the millions and only in Bitpay, there are other payment processors and also a lot of merchants directly accept bitcoin.
June 04, 2019, 06:44:53 AM
One of the main reason for the mass adoption of bitcoin is the number of merchants come forward to accept bitcoin automatically turns up for mass adoption the same thing happened in Japan
almost every new product/service is first adopted in Japan, than in Asia and Pacific region, Latin America & Russia, US, and so on... the last regions of adoption of new products/services are Europe & Canada
June 04, 2019, 05:30:21 AM
One of the main reason for the mass adoption of bitcoin is the number of merchants come forward to accept bitcoin automatically turns up for mass adoption the same thing happened in Japan
June 04, 2019, 05:15:16 AM
Can we finally admit that bitcoin is probably never going to be used for day to day payments? Can we finally switch to the idea that bitcoin is more like gold than anything else and stop this idea of ''mass adoption''? It's already adopted by a lot of people and companies but what more do we really want? It's not profitable for smaller companies to accept bitcoin, what do they gain from it? How are they going to deal with the volatility?
Exactly. Even when bitcoin was not yet as widely adopted as it is today we’ve seen it succeed already, it means that bitcoin doesn’t really need total adoption for it to reach the sky in value and besides, not everyone wants it to be used as coins from their purse to pay basic necessities in a daily basis. I really do think we must accept it as it is, it doesn’t prevent bitcoin from becoming the king of crypto by the way like this. 
June 04, 2019, 05:11:49 AM
I don't think like that because I am sure that the mass adoption will happen no matter it is for a long time or in a short time. Not just bitcoin that is growing the adoption but the altcoin will have the same thing. If bitcoin cannot be used for the transaction then perhaps, there are altcoin that will help bitcoin to make the transaction so the cryptocurrencies will be a new currency.
But I don't believe that every people who have bitcoin will only want to hold their bitcoin without spending to buy something because that will make sense if they don't have much of bitcoin in their wallet, so they prefer to hold it until the price increase so high. But for people who have much bitcoin, they will spend to buy many things, and that will make bitcoin circulation continue, and the network still operates.
But I don't believe that every people who have bitcoin will only want to hold their bitcoin without spending to buy something because that will make sense if they don't have much of bitcoin in their wallet, so they prefer to hold it until the price increase so high. But for people who have much bitcoin, they will spend to buy many things, and that will make bitcoin circulation continue, and the network still operates.
June 04, 2019, 04:47:27 AM
Can we finally admit that bitcoin is probably never going to be used for day to day payments? Can we finally switch to the idea that bitcoin is more like gold than anything else and stop this idea of ''mass adoption''? It's already adopted by a lot of people and companies but what more do we really want? It's not profitable for smaller companies to accept bitcoin, what do they gain from it? How are they going to deal with the volatility?
Yes it is already been adopted but I think we want to see it being used as one ,There are some like me who want's to see it being used as a regular currency for payments .
But how could we see it if there are some who doesn't really wants to use it that way?
June 04, 2019, 04:40:14 AM
I am asking me this Q: 
If everyone is holding.... and the last block is mined, supposing that on the planet earth there are more than 21mil millionaires, and each of them as a status of symbol would like to have at least 1 BTC
There will be no chance to serve them all
When the last block is mined and still people continuing to keep hold without making it get used the demand will increase. What we hold will surely get into the market at some point, if there isn't any possible whales will manipulate. This manipulation will create panic and make small volume holders to release to the market.If everyone is holding.... and the last block is mined, supposing that on the planet earth there are more than 21mil millionaires, and each of them as a status of symbol would like to have at least 1 BTC
There will be no chance to serve them all
I believe the rule of supply and demand is autocorrect due to the value fluctuating whenever each side is tampered, forcing the other side to give in. In an example of people hoarding BTC, the price of Bitcoin with increase in demand will skyrocket that will tempt holders to give in and sell their Bitcoin. Likewise, when the holder does not give in, interest and demand will surely diminished causing the price to go down that will give holders a sense of panic and eventually release their valued BTC creating an influx of supply. This stuff always happen in the market, that universal law is within that system to make sure that no matter how hard people manipulate the market, there is always a balancing factor to even things out. So I believe there will be enough supply of Bitcoin whether as a whole or as a part in the market to enable the use for mass adoption.
June 04, 2019, 04:24:56 AM
How can you say everyone is holding? We have now a 24h volume of $20.687.254.431, which is 20 billion dollars being negotiate every day.
Few stores accept BTC for now, so it´s not easy to use it as payment method for now...
Few stores accept BTC for now, so it´s not easy to use it as payment method for now...
You just proved his point.
That's what he said, 1.3% is used for buying stuff, rest is for in and out of exchanges (trade).
Mass adoption doesn't mean everyone will trade but that everyone will use it to buy stuff, at least that's my opinion.
The supply cap and speculative investment aspects discourage spending, but they don't mean no one wants to spend Bitcoin. The network hit > 400,000 confirmed transactions in a day a few weeks ago. Clearly, there is growing transaction liquidity.
We also hit 450k during December, and this wave kind proves that the increasing number of transactions has more to do with price swings that real life usage.
Another point would be that during the first semester of 2018 we actually had fewer transactions than during 2016.
Unfortunately, it is not possible to count LN transaction growth, that would be probably a better indicator of how purchases via BTC are evolving.
June 04, 2019, 03:09:43 AM
Adoption we are talking about the involvement of bitcoin in our economy and in our daily activities. There are so many factors when comes into that. Like taxes and transportation. Education and especially for government acceptance.
Bills that can be paid using crypto will be faster and much easier and that's how I look at what adoption will looks like in the future.
Bills that can be paid using crypto will be faster and much easier and that's how I look at what adoption will looks like in the future.
June 03, 2019, 05:47:55 PM
In order for bitcoin to be used as a means of payment, it needs to be stable. Of course, people are in no hurry to spend it, because everyone wants to make money on it. And when he's stable, then everything will start to use bitcoin for payment.
June 03, 2019, 05:34:38 PM
Mass adoption does not mean that everyone should spend Bitcoin for daily purchase. For my case, hodling the BTC already means that I have adopted BTC, because my need is to use BTC as a means of "store of value" instead of "medium of exchange" and BTC perfectly fits my need.
Jump to: