If no one spends bitcoin what might happen? - page 30.

Harlot

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Quote from: MintCondition on March 09, 2017, 08:59:13 AM

Quote from: kidoseagle0312 on March 09, 2017, 07:52:36 AM

Quote from: danherbias07 on July 14, 2016, 04:11:51 AM

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In my opinion, I think we will be stuck in one price or maybe worse we will all go down.

Here is what happened when US citizens are saving too much.

Quote

That's important because American spenders make up the majority -- about 70% -- of economic activity in the country. If people don't spend, the economy doesn't grow.

Check it out here

The number one thing might be happen, maybe the price will get stock, or if not the price value will drop little by little until it reach bottom line to zero value. But the question was that is too impossible to be happen in the future.

if bitcoin will not circulated then probably economy of bitcoin might fall, its features may lose and soon it will not have any value. So we better use bitcoin appropriately and actively, bitcoin has lot of features and developments that will be helpful and beneficial to everyone.

If no one is spending it does not mean that Bitcoin will fall, Bitcoin still has many uses than buying stuff. It is use in trading, or it can be use in being converting to Fiat. One good example is gold no one is using Gold to buy stuff but it is not affecting its price because it is still has value on to it.

dinofelis

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Quote from: danherbias07 on July 14, 2016, 04:11:51 AM

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The mem pool may finally get emptied

MintCondition

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Quote from: kidoseagle0312 on March 09, 2017, 07:52:36 AM

Quote from: danherbias07 on July 14, 2016, 04:11:51 AM

Share your ideas here. Grin

In my opinion, I think we will be stuck in one price or maybe worse we will all go down.

Here is what happened when US citizens are saving too much.

Quote

That's important because American spenders make up the majority -- about 70% -- of economic activity in the country. If people don't spend, the economy doesn't grow.

Check it out here

The number one thing might be happen, maybe the price will get stock, or if not the price value will drop little by little until it reach bottom line to zero value. But the question was that is too impossible to be happen in the future.

if bitcoin will not circulated then probably economy of bitcoin might fall, its features may lose and soon it will not have any value. So we better use bitcoin appropriately and actively, bitcoin has lot of features and developments that will be helpful and beneficial to everyone.

kidoseagle0312

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Quote from: danherbias07 on July 14, 2016, 04:11:51 AM

Share your ideas here. Grin

In my opinion, I think we will be stuck in one price or maybe worse we will all go down.

Here is what happened when US citizens are saving too much.

Quote

That's important because American spenders make up the majority -- about 70% -- of economic activity in the country. If people don't spend, the economy doesn't grow.

Check it out here

The number one thing might be happen, maybe the price will get stock, or if not the price value will drop little by little until it reach bottom line to zero value. But the question was that is too impossible to be happen in the future.

fullypak

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Quote from: gandame on March 07, 2017, 08:18:14 AM

If no one spend bitcoins, of course there will be no profit to be circulated to bitcoin economic movement on the system of digital currency. The buyers of bitcoin will no longer hold btc for their future profitable investments like in trading of altcoins that is known to be the most profitable ways of investing your alt cryptocurrencies. Everyone should spend bitcoin sometimes because holding it for so long time will have bigger profit and if you don't spend it, I think there will be less profit when btc price will definitely drops down again of price because the demand lowered.

You are right people think holding Bitcoin for a long time will give big profit. But it is not 100% correct. I too agree that holding bitcoin will give good profit, but we have to sell our coins at the right time. Because once the Bitcoin price is starting to drop within one or two days, we see 200 to 300$ fluctuations in bitcoin price. So it is a big loss. And people not sell or buy bitcoins then sure the Bitcoin will lose value in the market.

gandame

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If no one spend bitcoins, of course there will be no profit to be circulated to bitcoin economic movement on the system of digital currency. The buyers of bitcoin will no longer hold btc for their future profitable investments like in trading of altcoins that is known to be the most profitable ways of investing your alt cryptocurrencies. Everyone should spend bitcoin sometimes because holding it for so long time will have bigger profit and if you don't spend it, I think there will be less profit when btc price will definitely drops down again of price because the demand lowered.

warwar

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Yeah true.One possibility is price will be stablelized if there is no one who will spend bitcoins in transactions specially in trading sites.Because bitcoins is just based on supplyand demand.Bitcoins price rises when in demand.Considering its a decentralized cryptocurrency there are still alot of possibility that may happen if no one spends bitcoins.Negative or positive effect may happen

BitcoinPC

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Quote from: MyIdeas on March 05, 2017, 03:53:22 AM

Quote from: chixka000 on March 05, 2017, 03:44:29 AM

Do you mean that people holds? Then i think bitcoin would be useless.However that is merely impossinle that there woild be no bitcoin user who is going to use it.

You are right bitcoin will be useless if everyone hold and no one will be here to use bitcoin. If we want the success of bitcoin then we need some use of bitcoin in market to increase the demand.

But it is also useless to think, that bitcoin's user never use the bitcoin. Definitely people are using bitcoin. Because bitcoin not made for only holding, You could see we are using bitcoin for amount transfer and paying bills, also we play online gambling with bitcoins and doing trading and investment with bitcoin. Although i don't think, people are stop to use it. We should see in our daily life, we are using the bitcoin.

Taki

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Quote from: SvenBomvolen on March 05, 2017, 01:38:14 PM

Quote from: Xester on March 05, 2017, 03:08:18 AM

Quote from: ranochigo on February 26, 2017, 11:07:46 AM

Bitcoin will die. Same with any other currency, if there's no one using it, there's no reason for it to exist.

With no one spending Bitcoins, there wouldn't be any transaction volume. With the no one trading on the market, Bitcoins will be worthless.

That will be the extreme result or end if no one will spend their bitcoin and just hold it. If there were no sellers there will be no market. Seller and buyers are necessary to create a market that is founded on supply and demand. Bitcoin though it is a currency it is still considered to be a commodity. But this kind of commodity will not have a value if nobody sells it.

That's right. Bitcoin users are that factor that helped to bitcoin to fly so high and to get developed to the concrete world's market participant. if nobody will spend bitcoin the whole system will fall as the price for bitcoin. So, bitcoin is just have to be spended.

I'm agree. Here should be used the basic rule of all economy - "sell-buy". Without any activity with bitcoin this currency will cost just nothing.

SvenBomvolen

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Quote from: Xester on March 05, 2017, 03:08:18 AM

Quote from: ranochigo on February 26, 2017, 11:07:46 AM

Bitcoin will die. Same with any other currency, if there's no one using it, there's no reason for it to exist.

With no one spending Bitcoins, there wouldn't be any transaction volume. With the no one trading on the market, Bitcoins will be worthless.

That will be the extreme result or end if no one will spend their bitcoin and just hold it. If there were no sellers there will be no market. Seller and buyers are necessary to create a market that is founded on supply and demand. Bitcoin though it is a currency it is still considered to be a commodity. But this kind of commodity will not have a value if nobody sells it.

That's right. Bitcoin users are that factor that helped to bitcoin to fly so high and to get developed to the concrete world's market participant. if nobody will spend bitcoin the whole system will fall as the price for bitcoin. So, bitcoin is just have to be spended.

Mvaporis1961

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Well I think as long as there are some that keeps on buying it I think the price wont fall,
As long as there is somebody that keeps on investing even if they don't spend it the price would still rise up.

BeGoods

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Quote from: macspeed on March 05, 2017, 08:12:01 AM

what is going to happen is many of the btc exchanges not survive already seeing people want to exit, sell and when the herd begins it will accelerate...

if it does happen naturally bitcoin will die because there is no demand and supply and the exchange itself will die,
but for all users do not do spending it is impossible, there will always be users who will buy and sell

macspeed

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what is going to happen is many of the btc exchanges not survive already seeing people want to exit, sell and when the herd begins it will accelerate...

JL421

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I don't that will ever happen because as for now there are more than million people who have actually invested in bitcoins so there is a obvious chance people will spend for sure.
You can take the case for this forum itself daily someone does exchange , daily someone buys something from digital goods so imagine how many users are actually there who will spend bitcoins.

DoublerHunter

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Quote from: Harlot on March 05, 2017, 07:40:24 AM

Quote from: Pattart on March 05, 2017, 07:30:47 AM

Quote from: chixka000 on March 05, 2017, 03:44:29 AM

Do you mean that people holds? Then i think bitcoin would be useless.However that is merely impossinle that there woild be no bitcoin user who is going to use it.

I think it is an impossible thing everyone will hold their bitcoin in the same time. likely 1: 10 million
demand and supply will always happen even if it was just a little volume

Its not impossible. If people hold their Bitcoin then the probably next situation is that the demand would go up. After that we might see Bitcoin's price to increase, the tendency is people will start selling because they are satisfied with the price. That is how it works it is even being used today by people who wants to push up the price of Bitcoin. No one will hold Bitcoin forever there is the right price for every person.

Yes I agree. That situation is more like manipulating the game for their own satisfaction but we can't avoid that because that is one of the dirty rule of the game, if you have a lot of stocks then the only problem is that you got is patience, If you have that then you are already the winner. If people will keep hodling bitcoin and the demand cooperates and continue to go up then the price will be massive and in my opinion if that happen the highest price will be just bubble because of the bag holders that are waiting for that moment to sell off their coins.

Harlot

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Quote from: Pattart on March 05, 2017, 07:30:47 AM

Quote from: chixka000 on March 05, 2017, 03:44:29 AM

Do you mean that people holds? Then i think bitcoin would be useless.However that is merely impossinle that there woild be no bitcoin user who is going to use it.

I think it is an impossible thing everyone will hold their bitcoin in the same time. likely 1: 10 million
demand and supply will always happen even if it was just a little volume

Its not impossible. If people hold their Bitcoin then the probably next situation is that the demand would go up. After that we might see Bitcoin's price to increase, the tendency is people will start selling because they are satisfied with the price. That is how it works it is even being used today by people who wants to push up the price of Bitcoin. No one will hold Bitcoin forever there is the right price for every person.

Pattart

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Quote from: chixka000 on March 05, 2017, 03:44:29 AM

Do you mean that people holds? Then i think bitcoin would be useless.However that is merely impossinle that there woild be no bitcoin user who is going to use it.

I think it is an impossible thing everyone will hold their bitcoin in the same time. likely 1: 10 million
demand and supply will always happen even if it was just a little volume

Reid

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Quote from: deisik on March 05, 2017, 06:09:11 AM

Quote from: Xester on March 05, 2017, 03:08:18 AM

Quote from: ranochigo on February 26, 2017, 11:07:46 AM

Bitcoin will die. Same with any other currency, if there's no one using it, there's no reason for it to exist.

With no one spending Bitcoins, there wouldn't be any transaction volume. With the no one trading on the market, Bitcoins will be worthless.

That will be the extreme result or end if no one will spend their bitcoin and just hold it. If there were no sellers there will be no market. Seller and buyers are necessary to create a market that is founded on supply and demand. Bitcoin though it is a currency it is still considered to be a commodity. But this kind of commodity will not have a value if nobody sells it

This is a short-sighted and narrow-minded approach

It doesn't take into account that Bitcoin can be used for an exchange of real goods when (if) the real economy builds around Bitcoin. That would basically make the market for Bitcoin currency exchange operations largely irrelevant. In that case, no one could be selling as well as buying Bitcoin but it would still prosper since it would be used directly, i.e. as a currency, for the exchange of goods and services

I do agree. Although if the price of bitcoin gets really high then people can spend it anytime.
Thinking just for a thousand satoshis you can buy something online then why not.
But for now, I do think it is better to just hold it than spending it.
Maybe in the future when all bitcoin is mined then we can somehow circulate it with online shopping.

deisik

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Quote from: Xester on March 05, 2017, 03:08:18 AM

Quote from: ranochigo on February 26, 2017, 11:07:46 AM

Bitcoin will die. Same with any other currency, if there's no one using it, there's no reason for it to exist.

With no one spending Bitcoins, there wouldn't be any transaction volume. With the no one trading on the market, Bitcoins will be worthless.

That will be the extreme result or end if no one will spend their bitcoin and just hold it. If there were no sellers there will be no market. Seller and buyers are necessary to create a market that is founded on supply and demand. Bitcoin though it is a currency it is still considered to be a commodity. But this kind of commodity will not have a value if nobody sells it

This is a short-sighted and narrow-minded approach

It doesn't take into account that Bitcoin can be used for an exchange of real goods when (if) the real economy builds around Bitcoin. That would basically make the market for Bitcoin currency exchange operations largely irrelevant. In that case, no one could be selling as well as buying Bitcoin but it would still prosper since it would be used directly, i.e. as a currency, for the exchange of goods and services

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Quote from: jovs on March 05, 2017, 03:28:24 AM

Quote from: Doms on July 14, 2016, 05:32:59 AM

Quote from: jakelyson on July 14, 2016, 05:04:22 AM

Quote from: danherbias07 on July 14, 2016, 04:11:51 AM

Share your ideas here. Grin

In my opinion, I think we will be stuck in one price or maybe worse we will all go down.

Here is what happened when US citizens are saving too much.

Quote

That's important because American spenders make up the majority -- about 70% -- of economic activity in the country. If people don't spend, the economy doesn't grow.

Check it out here

The price will go down because people will lose interest in bitcoin if it happens. That is why though it is good to hold bitcoin, it is still hurting its economy if no bitcoin is used for purchase. It is good if there is more merchandisers that will adopt bitcoin so that more will be encourage to use and spend bitcoins.

It is a finite currency and I think it will still hold value if no one uses it. It would be a store of value, just like gold. If the reason that people are not using bitcoin is because they are holding it, then I think that will drive the price up because many would want to get a hold of something that continuously increase in value.

I think that it is impossible to think that no one will spen bitcoin. But if it happen , the price or the value of bitcoin will go down . Even if you say its fixed because like in fiat or tge system of money the rate or the demand is depende on the usage of people so it going to low the value. Maybe no one will do that because we all now that if you spend on bitcoin there is a positive effect on bitcoin users. It better to spen and earn at the same time.

Yeah, it is just I remembered when one country is trying to pursue the people to spend their fiats because everyone is trying to save a lot more than what they are spending.
I tried applying the idea to bitcoin if that will happen too. Actually I happened to see the answer and it will not really affect that much. Bitcoin is really different than what we are using now called money.

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