If no one spends bitcoin what might happen? - page 40.

Betwrong

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Quote from: FaucetRank.com on December 16, 2016, 06:27:39 AM

There maybe many assumptions that if nobody spend their Bitcoin then what will happen.
If nobody spend Bitcoin then Bitcoin price will fall because everyone will think that Bitcoin is not circulating in market. Other view maybe that if nobody spend their Bitcoin and the demand keep increasing than the price may go to sky.

I think we are talking here about a situation when almost nobody is spending their coins, because otherwise it would too unrealistic. I agree with your "other view". I think the demand will be always rising with time and if nobody is spending the price will go to the Moon.

FaucetRank.com

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There maybe many assumptions that if nobody spend their Bitcoin then what will happen.
If nobody spend Bitcoin then Bitcoin price will fall because everyone will think that Bitcoin is not circulating in market. Other view maybe that if nobody spend their Bitcoin and the demand keep increasing than the price may go to sky.

deisik

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Quote from: Ravion on December 15, 2016, 01:24:37 PM

Quote from: rphk on July 14, 2016, 04:59:04 AM

If no one spends bitcoin , it will not help in rising the bitcoin price . better is always more and more people should use bitcoin as transaction method , then we can see more popularity for bitcoin and hence there will huge demand also

What causes the price of Bitcoin to rise is not spending (meaning, consumers purchasing things using Bitcoin). What causes the price to rise is people (or companies) buying Bitcoins. This results in, Bitcoins that are available on the market being sold at that current price, being sold out, and any additional Bitcoins only being available, at a higher price.

You are right that people as well as companies buying bitcoins make Bitcoin price rise (by increasing demand for bitcoins). But you are pretty much wrong, nevertheless, that spending as in consumers purchasing things with Bitcoin doesn't contribute to higher Bitcoin prices. If we assume that there is a full-fledged Bitcoin economy, bitcoins spent on goods means that they weren't traded for fiat, and that basically amounts to diminishing supply of bitcoins to the market, and thus also causes the price to rise...

In fact, the effects of spending on price are preferable for the stable and steady price growth in the long run

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Quote from: TravisNeko on December 15, 2016, 06:02:42 PM

Quote from: bitbunnny on December 15, 2016, 09:56:33 AM

In real life this is not possible. You can't stop people from using their coins this way or another. Bt in some theory if everyone stops using bitcoins that could affect the price in some way, probaly negative, the price will go down, but on the other side the coins would still be there just not circulating on the market. With the time people would start to sell the coins to get rid of them because in that scenario there would be no use of it.

Nope cannot be done but the fact is that it stays something that is an option soon or later, for the most part people are holding it for a long term too.

Though bitcoin is popular as an investment but the total number of spenders are still huge compared to investors, we cannot deny the fact that we like to spend especially when we love to be entertain online, there's gambling sites that always temp us to spend.

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Quote from: bitbunnny on December 15, 2016, 09:56:33 AM

In real life this is not possible. You can't stop people from using their coins this way or another. Bt in some theory if everyone stops using bitcoins that could affect the price in some way, probaly negative, the price will go down, but on the other side the coins would still be there just not circulating on the market. With the time people would start to sell the coins to get rid of them because in that scenario there would be no use of it.

Nope cannot be done but the fact is that it stays something that is an option soon or later, for the most part people are holding it for a long term too.

Doamader

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If no one spends bitcoin we will face a big problem, a currencie that isnt being used hasnt value, soo we could see bitcoin last moments, even knowing those action would cause panic into the exchanges where people would dump their bitcoins, but could be possible as well that bitcoin achieves once again another bubble as in the past, where the big holders would damage bitcoin and maybe kill it with those step.

merchantofzeny

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I'm not exactly knowledgeable in economics but I guess it would go down a bit since transactions affect the price. I don't know if I can compare Bitcoins to those gold and silver some people are hoarding. Those are still precious metals after all and would always be worth something since people value them.

I don't know if this is the right analogy but a lump of gold might not be worth much but it will have an increase in value if crafted into something. Not usre if the same thing can be said for stockpiled bitcoins that have their value greatly diminished.

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Quote from: n2004al on December 15, 2016, 09:09:42 AM

For sure the price will not go down but high e very high. Will go higher until the first of them who have bitcoin will sell. And in this moment all the story will begin from the beginning. Who will want bitcoin will offer always more and more to have. Who have will sell to have the money. To not forget that the affection of the people for bitcoin has made possible the price of bitcoin in these levels. Will be this affection which will not leave that the price go down in the above situation.

I agree that price in a short term will go down because bitcoin is a currency and not stock or bond. If anybody try to compare it with gold must think that there is no comparison and cannot use it only as sanctuary when there is economic crisis in a state. Gold does not need internet and blockchain; but bitcoin without previous is only a piece of code doing nothing.

royalfestus

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I dont know if you meant 'If no one had not spent bitcoin or if they stop spending bitcoin'. In either ways you put the question, if any had happened you wont be asking this question. A part of unknown economy will be left out, that is what invention looks like. Without bitcoin being spent, no exchange, no altcoin, no signature campaign, no crowding, no blockchain, anything that is named after bitcoin will not be.

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Quote from: rphk on July 14, 2016, 04:59:04 AM

If no one spends bitcoin , it will not help in rising the bitcoin price . better is always more and more people should use bitcoin as transaction method , then we can see more popularity for bitcoin and hence there will huge demand also

What causes the price of Bitcoin to rise is not spending (meaning, consumers purchasing things using Bitcoin). What causes the price to rise is people (or companies) buying Bitcoins. This results in, Bitcoins that are available on the market being sold at that current price, being sold out, and any additional Bitcoins only being available, at a higher price.

raja2sumi

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well most of the people who use bitcoins as their income to meet their daily basis ,then i would say that people will spend their bitcoins they are bound to spend their bitcoins otherwise how would they meet their basic needs which is very imposrtant and dont worry bitcoins will be in circulation.

TreeOfDeath

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In my opinion, nothing much will happen,
but the price of bitcoin will decrease. by, this we can also gain popularity about bitcoin, so people should do transactions by bitcoin and help the bitcoins rates to increase

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In real life this is not possible. You can't stop people from using their coins this way or another. Bt in some theory if everyone stops using bitcoins that could affect the price in some way, probaly negative, the price will go down, but on the other side the coins would still be there just not circulating on the market. With the time people would start to sell the coins to get rid of them because in that scenario there would be no use of it.

n2004al

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For sure the price will not go down but high e very high. Will go higher until the first of them who have bitcoin will sell. And in this moment all the story will begin from the beginning. Who will want bitcoin will offer always more and more to have. Who have will sell to have the money. To not forget that the affection of the people for bitcoin has made possible the price of bitcoin in these levels. Will be this affection which will not leave that the price go down in the above situation.

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Quote from: Zadicar on December 15, 2016, 07:44:24 AM

Quote from: poplolnman on December 15, 2016, 07:31:15 AM

Quote from: Techie5879 on December 15, 2016, 06:25:23 AM

Well, the price is going to remain stable, wont increase wont decrease. Thats for sure. However, something major, like the bitcoin collapse might also happen, and gold/silver or just simple fiat might replace bitcoin. The industries that depend almost/fully on bitcoin will undergo a huge loss and shut down (most likely).

are you sure? what would happened if then most bitcoin holder sell their bitcoin due there is no price movement? would it be still remain the same? no, i don't think so. bitcoin would never have a stable price no matter what , as it's designed to be like that. if then there is a lacks of spending, i believe the end of bitcoin are really near.

If no one spends their bitcoin it wont really be consider as dead since people are still keeping it since it has a value. If no one spends then theres only a minimal movement on bitcoins price and we wont see any major increase or decrease.

It is more likely the price will go down in the long haul. If people simply hold bitcoins without spending, it would be the same as if there were no bitcoins at all, and people that might want to buy a few bitcoins will soon forget about Bitcoin and just walk away. In my view, excessive hoarding can be detrimental to Bitcoin ecosystem, Bitcoin should circulate to stay alive.

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Quote from: poplolnman on December 15, 2016, 07:31:15 AM

Quote from: Techie5879 on December 15, 2016, 06:25:23 AM

Well, the price is going to remain stable, wont increase wont decrease. Thats for sure. However, something major, like the bitcoin collapse might also happen, and gold/silver or just simple fiat might replace bitcoin. The industries that depend almost/fully on bitcoin will undergo a huge loss and shut down (most likely).

are you sure? what would happened if then most bitcoin holder sell their bitcoin due there is no price movement? would it be still remain the same? no, i don't think so. bitcoin would never have a stable price no matter what , as it's designed to be like that. if then there is a lacks of spending, i believe the end of bitcoin are really near.

If no one spends their bitcoin it wont really be consider as dead since people are still keeping it since it has a value. If no one spends then theres only a minimal movement on bitcoins price and we wont see any major increase or decrease.

poplolnman

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Quote from: Techie5879 on December 15, 2016, 06:25:23 AM

Well, the price is going to remain stable, wont increase wont decrease. Thats for sure. However, something major, like the bitcoin collapse might also happen, and gold/silver or just simple fiat might replace bitcoin. The industries that depend almost/fully on bitcoin will undergo a huge loss and shut down (most likely).

are you sure? what would happened if then most bitcoin holder sell their bitcoin due there is no price movement? would it be still remain the same? no, i don't think so. bitcoin would never have a stable price no matter what , as it's designed to be like that. if then there is a lacks of spending, i believe the end of bitcoin are really near.

iram3130

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There are chances of this to happen in future because everyone thinks that the price of Bitcoin will increase in the future. So many people I know hold them and won't sell easily. But this won't be a negative impact on the currency. They will sell them one or the other day. There is no meaning to hold a currency without selling those at the right time. So I guess everyone who hold, will spend it one or the other day.

Text

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If no one spends bitcoin then the price will be fixed but don't worry because it is very far to happen. No one can control us to stop from spending our btc. Spending coins is what makes the bitcoin more progressive and popular.

Techie5879

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Well, the price is going to remain stable, wont increase wont decrease. Thats for sure. However, something major, like the bitcoin collapse might also happen, and gold/silver or just simple fiat might replace bitcoin. The industries that depend almost/fully on bitcoin will undergo a huge loss and shut down (most likely).

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