If no one spends bitcoin what might happen? - page 32.

KennyR

hero member

Activity: 2282

Merit: 532

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Quote from: ranochigo on February 26, 2017, 12:07:46 PM

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.

Such scenario won't occur. Without Fiat or some form of financial system we cannot have a living in these days. Bitcoin will be used more by the users who feel convenient as well know the truth of better we use better will be its growth.

Viscoat

newbie

Activity: 29

Merit: 0

Quote from: ranochigo on February 26, 2017, 12:07:46 PM

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.

I do not think so. The bitcoin will evolve.

The_Dark_Knight

hero member

Activity: 840

Merit: 502

Quote from: Digitalbitcoin on January 12, 2017, 11:36:35 AM

Actually we must have to consider this fact as logical statement if no one spends bitcoin.

Actually this cannot be happen. Because in market if no one going to sale bitcoin and if demand is increasing then price of bitcoin can reach to sky.
But this will never happen. Because till date bitcoin mining is going on and till 2145 mining will be continued. So till 2145 miner only get rewards for verifying transactions made within network. In no one spend bitcoin no miner will get paid.

At this time the hypothetical scenario you give will not be too much of a trouble since miners depend mostly on the reward from mining new blocks but as time passes and miners become more dependent on fees that could become a problem.

abel1337

legendary

Activity: 2464

Merit: 1145

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Quote from: ranochigo on February 26, 2017, 12:07:46 PM

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.

I agree bitcoin will be worthless if no one will use it and in the same time makinb bitcoin transactions.
Other cryptocurrency might be affected , In sure not all because some of the coins are not in the price of bitcoin . Like TBC (The billion coin) which many of us are knowned is as a ponzi coin. But I give it just as an example.

ranochigo

legendary

Activity: 2982

Merit: 4193

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.

bravehearth0319

hero member

Activity: 1022

Merit: 500

Quote from: danherbias07 on July 14, 2016, 05:11:51 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

This is a serious a matter if ever this one happen in real. Probably some of the community will jump or shift into another altcoin that has a potential value like bitcoin it may not high the price but big community I think it can be consider alternative profit replacement for bitcoin.

Kabul

sr. member

Activity: 619

Merit: 250

Quote from: ilovefeetsmell on February 26, 2017, 03:09:53 AM

If no one spends their bitcoin, what might gonna happen? It damages or destroys the flowing of money or bitcoin. Let us use an example is saving our money into a piggy bank, do you think it helps our economy? No, it isn't! because it blocks the way or flowing of the money. It is the same way of not spending our bitcoin in the bitcoin community. Less spending our bitcoin will become Less demand.

I have the opposite thought. If no one spend bitcoin in this moment, people will get crazy because they can not buy Bitcoin anymore and guess what, the prices will increase sharply due to the high demand of Bitcoin. Then, Bitcoin will hit $3000 and even more. People will soon recognize what bitcoin is and start to mine it

positivezero

member

Activity: 98

Merit: 10

Quote from: Barnabe on July 14, 2016, 05:14:32 AM

Well some people will always spend money, if a big proportion of people don't use it, its price will increase until it reaches an equilibrium point.

Yes i would agree to you that people always spends money, either small or big amount. It is our habits to spend here, there, and even everywhere as long as we're happy of what we've done. But i wont agree to you that if no one spends bitcoins, the price might increase and it will reached to equilibrium point, because in my opinion, if no one spends bitcoin and they always keep it, i think the price will fall in the bottom or it will decrease as low as we dont expect

ilovefeetsmell

hero member

Activity: 686

Merit: 510

If no one spends their bitcoin, what might gonna happen? It damages or destroys the flowing of money or bitcoin. Let us use an example is saving our money into a piggy bank, do you think it helps our economy? No, it isn't! because it blocks the way or flowing of the money. It is the same way of not spending our bitcoin in the bitcoin community. Less spending our bitcoin will become Less demand.

TheGodFather

hero member

Activity: 854

Merit: 500

Quote from: danherbias07 on July 14, 2016, 05:11:51 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 bitcoin price will go down if no one will spend their bitcoin earnings. Because of the popularity of bitcoin today, many people are using it as well as requiring it on some companies. And I think this will not happen. And according to statistics online, Bitcoin is one of the biggest cryptocurrency online. So in my opinion, if this will happen, there still some of the people want to earn bitcoin even thou this will go down to 1$ per Bitcoin. No one knows.

stephanirain

sr. member

Activity: 756

Merit: 257

Freshdice.com

Quote from: danherbias07 on July 14, 2016, 05:11:51 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

If no one spends bitcoin and many people buy, certainly the value of bitcoin would rise up.

The_Dark_Knight

hero member

Activity: 840

Merit: 502

It will depend on demand, if no one spends and demand is low, then the price could get down and we may get in a downward spiral, if the demand is high then we may get an upward trend that eventually will subside as more people sell their coins to get profits and met the demand.

FlightyPouch

sr. member

Activity: 1638

Merit: 300

Quote from: robiulawal on January 12, 2017, 11:50:27 AM

A example might be helpful.
We can think bitcoin is a flying bird
that has a life it can fly up on the sky or can fly on the lower part.

Everyone is happy to see it.
It is very charming.

But when Bitcoin become stable
it is like a sculpture of a bird
or a bird in a cage
it has no life,
it can not move,
But it is nice to see it..

That's all of btc in a cage.

Maybe the good thing to explain if noone spend bitcoin using your bird is that every user or watcher of these bird will be finding this bird all over the place until there comes a time that we pay someone to give is the bird with really high price.
Well that follows the business things: high demands, high price. An dif these bird is not being seen by many people, it will be considered extinct and people will try to forget it and find another bird with same value. You get it?

--DarkSecrets--

hero member

Activity: 854

Merit: 500

Stake & Vote or Become a IoTeX Delegate!

Quote from: bitcoinmasterlord on February 25, 2017, 01:40:47 PM

Quote from: 20kevin20 on February 25, 2017, 01:15:50 PM

I don't really think it would be worthless. If less people would use it, the price would go even faster because there would be even a smaller amount to be used, so a smaller available supply. I'm not sure which one drives the price higher though: people having it but not spending it or people spending it more than ever before?

Yes if the Bitcoin transaction not happens means there is no value to use Bitcoin, and if all bitcoin users stop to use bitcoin then the bitcoin may disappear. But it will never happen, in future also don't think like this. Daily countless bitcoins transactions are happening. And a lot of people are earning money from this Bitcoin.

Yes ,bitcoin price will collapse as the investors are gone .
I don't think also that it might happen it just an speculation .More possibility that comes on my mind is if bitcoins dump in the future. A lot of people earning on bitcoins now ,Yes but the question how long it will take if bitcoin mining stops and end circulating .We cant predict and assure if bitcoins will be always on top . That's why i am thinking some profitable activity and enjoying the advantage of bitcoins now .As much as possible i don't only save bitcoins ,i also save real money .

bitbob82

hero member

Activity: 630

Merit: 500

Quote from: Digitalbitcoin on January 12, 2017, 11:36:35 AM

Actually we must have to consider this fact as logical statement if no one spends bitcoin.

Actually this cannot be happen. Because in market if no one going to sale bitcoin and if demand is increasing then price of bitcoin can reach to sky.
But this will never happen. Because till date bitcoin mining is going on and till 2145 mining will be continued. So till 2145 miner only get rewards for verifying transactions made within network. In no one spend bitcoin no miner will get paid.

yes the use of bitcoin is continuously increasing therefore i think we even cannot think about that, bitcoin will be present for ever and people will be using it as currency even in their local shops and will exist for ever. hope that as time ass the use of bitcoin will also be increase.

bitcoinmasterlord

legendary

Activity: 1148

Merit: 1006

Quote from: 20kevin20 on February 25, 2017, 01:15:50 PM

Quote from: MoneyIsDebt on February 25, 2017, 12:56:56 PM

Quote from: Pencila on February 25, 2017, 08:49:13 AM

Quote from: Digitalbitcoin on January 12, 2017, 11:36:35 AM

Actually we must have to consider this fact as logical statement if no one spends bitcoin.

Actually this cannot be happen. Because in market if no one going to sale bitcoin and if demand is increasing then price of bitcoin can reach to sky.
But this will never happen. Because till date bitcoin mining is going on and till 2145 mining will be continued. So till 2145 miner only get rewards for verifying transactions made within network. In no one spend bitcoin no miner will get paid.

If nobody spends bitcoin, it is useless and therefore worthless.

it will worthless because if it is no where in the market it will probably lose its value and hence it will be worthless. but i think it is hard tohappen because now bitcoin has customers in million so, i don't think it will happen ever.

I don't really think it would be worthless. If less people would use it, the price would go even faster because there would be even a smaller amount to be used, so a smaller available supply. I'm not sure which one drives the price higher though: people having it but not spending it or people spending it more than ever before?

Yes if the Bitcoin transaction not happens means there is no value to use Bitcoin, and if all bitcoin users stop to use bitcoin then the bitcoin may disappear. But it will never happen, in future also don't think like this. Daily countless bitcoins transactions are happening. And a lot of people are earning money from this Bitcoin.

BigBos

sr. member

Activity: 1904

Merit: 447

Well, today, I'm sure a lot of big businessmen who hold bitcoin that they currently have to wait for the right price to spend a bitcoin they have. Well, when they all hold bitcoin they have, I believe, the price will continue to rise, even if it happens slowly, especially when they do not sell their bitcoin.

20kevin20

legendary

Activity: 1134

Merit: 1598

Quote from: MoneyIsDebt on February 25, 2017, 12:56:56 PM

Quote from: Pencila on February 25, 2017, 08:49:13 AM

Quote from: Digitalbitcoin on January 12, 2017, 11:36:35 AM

Actually we must have to consider this fact as logical statement if no one spends bitcoin.

Actually this cannot be happen. Because in market if no one going to sale bitcoin and if demand is increasing then price of bitcoin can reach to sky.
But this will never happen. Because till date bitcoin mining is going on and till 2145 mining will be continued. So till 2145 miner only get rewards for verifying transactions made within network. In no one spend bitcoin no miner will get paid.

If nobody spends bitcoin, it is useless and therefore worthless.

it will worthless because if it is no where in the market it will probably lose its value and hence it will be worthless. but i think it is hard tohappen because now bitcoin has customers in million so, i don't think it will happen ever.

I don't really think it would be worthless. If less people would use it, the price would go even faster because there would be even a smaller amount to be used, so a smaller available supply. I'm not sure which one drives the price higher though: people having it but not spending it or people spending it more than ever before?

delliaerd

hero member

Activity: 672

Merit: 500

Quote from: MoneyIsDebt on February 25, 2017, 12:56:56 PM

Quote from: Pencila on February 25, 2017, 08:49:13 AM

Quote from: Digitalbitcoin on January 12, 2017, 11:36:35 AM

Actually we must have to consider this fact as logical statement if no one spends bitcoin.

Actually this cannot be happen. Because in market if no one going to sale bitcoin and if demand is increasing then price of bitcoin can reach to sky.
But this will never happen. Because till date bitcoin mining is going on and till 2145 mining will be continued. So till 2145 miner only get rewards for verifying transactions made within network. In no one spend bitcoin no miner will get paid.

If nobody spends bitcoin, it is useless and therefore worthless.

it will worthless because if it is no where in the market it will probably lose its value and hence it will be worthless. but i think it is hard tohappen because now bitcoin has customers in million so, i don't think it will happen ever.

Yeah i couldn't agree more with you, With the number of users today, may reach millions of users around the world bitcoin.
So it will not be possible very large number users of bitcoin none sells bitcoin and spend it for something.
But if one day we find that terrible accident occurs, there may be a big shock in bitcoin price stability.

MoneyIsDebt

hero member

Activity: 642

Merit: 500

Quote from: Pencila on February 25, 2017, 08:49:13 AM

Quote from: Digitalbitcoin on January 12, 2017, 11:36:35 AM

Actually we must have to consider this fact as logical statement if no one spends bitcoin.

Actually this cannot be happen. Because in market if no one going to sale bitcoin and if demand is increasing then price of bitcoin can reach to sky.
But this will never happen. Because till date bitcoin mining is going on and till 2145 mining will be continued. So till 2145 miner only get rewards for verifying transactions made within network. In no one spend bitcoin no miner will get paid.

If nobody spends bitcoin, it is useless and therefore worthless.

it will worthless because if it is no where in the market it will probably lose its value and hence it will be worthless. but i think it is hard tohappen because now bitcoin has customers in million so, i don't think it will happen ever.

Topic: If no one spends bitcoin what might happen? - page 32. (Read 52578 times)