Topic: If everyone is hodling, how can bitcoin be used for mass adoption? - page 2. (Read 403 times)
June 03, 2019, 05:31:35 PM
First of all, I will like to say it is impossible that everyone on Earth is going to hold every single Bitcoin available on the network(not including the Lost Bitcoins). This sounds like what is all the people go to the bank to withdraw their money, of course, the banks will be closed if that happens. But if all the Bitcoins are held by individuals then the network is gonna destroy as there will be no miners and no exchange to control the price of Bitcoin.
June 03, 2019, 04:28:16 PM
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
June 03, 2019, 03:36:27 PM
i doint think that everyone is holding.
There are many "investors" how buyed bitcoin in the last weeks just to sell them later with profits.
So the Question is how long will they hold.
regards
There are many "investors" how buyed bitcoin in the last weeks just to sell them later with profits.
So the Question is how long will they hold.
regards
June 03, 2019, 03:28:50 PM
I see that speculative using of BTC always increases every time.
and crypto adoption in the market always developing because it is driven by the utility offered, then the crypto market also always be a place to save assets from inflation.
and crypto adoption in the market always developing because it is driven by the utility offered, then the crypto market also always be a place to save assets from inflation.
June 03, 2019, 03:01:53 PM
Well the reason why most people are holding unto their bitcoins is because there are not much marketplaces that have built into their payment systems to accept cryptocurrencies and so many crypto enthusiasts are holding their bitcoins as an asset. The future seems bright however as there are many online platforms that have plans on accepting cryptocurrencies.
June 03, 2019, 01:24:51 PM
Seeming as everyone is hodling, how do we plan to bring bitcoin to mass adoption?
https://youtu.be/C17-TpYxQwY
https://youtu.be/C17-TpYxQwY
Do not worry too much, adoption is on its way that makes holders of Bitcoin forced to spend them or sell them. Even if only 1 Bitcoin is for sale, there will be 100,000,000 units of satoshi available to market. The increase in value will be tempting so that those who holds them will eventually sell their BTC. Besides there is other factor that influence the adoption of Bitcoin not just Bitcoin itself being available in the market. That factor includes, advertisement, regulations and government acceptance. Advertisement and government acceptance brings more impact than Bitcoin being available in the market IMHO. See crowdfunding system, people buy and support the project even the project itself is non-existent.
June 03, 2019, 01:10:51 PM
Those who are holding bitcoin are now booking profits and gain once the coin drops they are buying back so in this way crypto traders are gaining price margin in buy and sell
June 03, 2019, 12:46:55 PM
I hear this argument a lot and they always say that a deflationary currency isn't good for an economy. Many think that bitcoin will act more as a store of value similar to gold instead of being a daily currency in the future.
Which will be most for investment purposes and not as a currency which intended to be, with more and more people who's trying to understand and wanting to invest with this market, for sure it will continue being treated like that, it will be as an investment opportunity for people who will continue to support and try holding enough amount of coins. June 03, 2019, 12:35:56 PM
Holding is an investor's choice. It's our strategy to earn a good profit. Spending Bitcoin doesn't mean that we could contribute to a massive adoption. What we need is acceptance from huge companies and businesses. Massive adoption doesn't come only from investors.
June 03, 2019, 12:34:34 PM
Mass adoption means people will have bitcoin and some them will use over time, even if not all people can have 1 BTC they will have some satoshi and use them and there are still some bitcoin to mine and also a lot of bitcoins on exchanges waiting to buy.
June 03, 2019, 12:33:21 PM
Holding or not, the real adoption of cryptocurrencies will be at the moment when the customer is paying in crypto, the one who is recieving crypto is not converting it to fiat, but is paying his rent, his costs of running the business, the salary to the employers, in crypto
The crucial moment would be adoption of cryptocurrencies for long-term contractual relations (especially in industry related sectors like shipyards, where you sign a contract for building a ship years before its building will start). 
June 03, 2019, 12:11:55 PM
Holding or not, the real adoption of cryptocurrencies will be at the moment when the customer is paying in crypto, the one who is recieving crypto is not converting it to fiat, but is paying his rent, his costs of running the business, the salary to the employers, in crypto
June 03, 2019, 12:10:54 PM
Seeming as everyone is hodling, how do we plan to bring bitcoin to mass adoption? No-one wants to spend it, incase of the price going up and loosing out. Yet on the other hand, we want mass adoption. Chainalysis reports suggests only 1.3% of transactions are payments in 2019, that's less than 2017.
Here is a video from my YT channel, covering the topic in more detail.
https://youtu.be/C17-TpYxQwY
Here is a video from my YT channel, covering the topic in more detail.
https://youtu.be/C17-TpYxQwY
Your doubt seems invalid mate. Please check some of the exchanges where you can find the million dollars in circulation and volume. Then how you can saying people completely hodling alone. Everyone looking for mass adoption those people what to have funds in BTC can be buy from the cryptocurrency exchanges.
I useful thought will not contribute in the form of video as well. So, I did not check it.
June 03, 2019, 12:10:00 PM
This is so because there literally are a few places to spend bitcoins and if there were really numerous places in which one could use their bitcoins to, believe me people would use it from time to time. Right now the focus is on speculation since that's the most active part/aspect of the coin, but once value is ridiculously high, see how people start to use their bitcoin on things and take advantage of what's served in their plates. Maybe not now but within the next few years or so.
June 03, 2019, 12:07:08 PM
Seeming as everyone is hodling, how do we plan to bring bitcoin to mass adoption? No-one wants to spend it, incase of the price going up and loosing out.
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.
Bitpay also released some data that suggests lots of holders begin selling after large price rises.
June 03, 2019, 12:01:48 PM
It's not a problem, if the price is rising it's a good signal, demand is increasing, that is what matters. Bitcoin usage increases within time, however its usage is already decent mainly because crypto gambling industry.
I would be worried if the price was crashing yet and if the number of crypto businesses were decreasing.
I would be worried if the price was crashing yet and if the number of crypto businesses were decreasing.
June 03, 2019, 12:01:32 PM
That's just different views of each user, not all users use bitcoin as an investment only but there is people who make it as payment system and still hoping for the many merchants who accept it. Even, one of the way to make its price goes up in the future is there are many merchants who accept bitcoin and make it easier for every user to make every transaction. Indeed, if we rely on to make bitcoin price grow up but if we just it as a speculation tool it will never happen. There must be a caused for every user who uses bitcoin as a payment system until every merchants are interested in choosing it as a payment system. It's just a process, I believe the user will aware of it and he try to use it as payment system in their daily lives.
June 03, 2019, 12:01:19 PM
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''?
The thing is, bitcoin can be used like gold for store of value, and at the same time, as a currency for payments. Bitcoin might not be ready for "mass adoption" right now, simply due to price volatility and currently not being fast and cheap enough for day-to-day transactions, but it can come in the future. Always remember: Technology moves forward. There are smart people working in the cryptocurrency space that may have the solution to the problems we have right now.
June 03, 2019, 12:00:26 PM
I hear this argument a lot and they always say that a deflationary currency isn't good for an economy. Many think that bitcoin will act more as a store of value similar to gold instead of being a daily currency in the future.
June 03, 2019, 11:55:26 AM
Seeming as everyone is hodling, how do we plan to bring bitcoin to mass adoption? No-one wants to spend it, incase of the price going up and loosing out. Yet on the other hand, we want mass adoption. Chainalysis reports suggests only 1.3% of transactions are payments in 2019, that's less than 2017.
Here is a video from my YT channel, covering the topic in more detail.
https://youtu.be/C17-TpYxQwY
Here is a video from my YT channel, covering the topic in more detail.
https://youtu.be/C17-TpYxQwY
If the price crashes,everyone will stop hodling,but everyone that hodls will lose.
That's why a stable price with low volatility is the ultimate step towards mass btc adoption.
Unfortunately it's impossible to have a stable btc price.
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