If no one spends bitcoin what might happen? - page 45.

stark101

newbie

Activity: 42

Merit: 0

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

Yes the price will fall down as we don't expected. It will not become more progressive. I can't say that it would not happen in the future but what if? is there any solution for this if no one spends it? But i think the people will no think about this, people will always think on how to become bitcoin more developing currency and of course bitcoin was created for payments. People will think on how to have more profits using bitcoin.

saiha

hero member

Activity: 840

Merit: 501

Strength in Numbers

Quote from: barbara44 on November 24, 2016, 03:23:45 PM

Quote from: n0ne on November 24, 2016, 05:54:56 AM

If no one spends bitcoin, price fluctuation will happen to higher extent. Importantly bitcoin usage when gets decreased the ratio of adoption too decreases. Possibly for the improvement and growth towards a greater digital currency spending is much needed.

Actually I think if no one is using or spending bitcoins then the stability will increase since people are not spending so there wont be much difference between demand and supply.
I think spending bitcoins could never be stopped, because see there are a lot of places where bitcoins are being used dominantly at : gambling, domain purchase ( yeah a lot of people do that ) plus some investors and then altcoins.

Yes this will not happen but if this happens then those what you have said is possible, that will make the quantity of bitcoins circulating decrease.

So this will make the price even higher, but if this happen also the potential investors will not see this as good to them.

As it will make their purchased bitcoin will be in the circulation if they don't have choice by let their saved bitcoins to go in the market.

agamasrori

sr. member

Activity: 364

Merit: 250

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

If most of bitcoins are holded by the users, it will make the bitcoin price move down or move up quickly. It is need good bitcoin spreading and circulation to make the price more stable.

barbara44

hero member

Activity: 2548

Merit: 605

Quote from: n0ne on November 24, 2016, 05:54:56 AM

If no one spends bitcoin, price fluctuation will happen to higher extent. Importantly bitcoin usage when gets decreased the ratio of adoption too decreases. Possibly for the improvement and growth towards a greater digital currency spending is much needed.

Actually I think if no one is using or spending bitcoins then the stability will increase since people are not spending so there wont be much difference between demand and supply.
I think spending bitcoins could never be stopped, because see there are a lot of places where bitcoins are being used dominantly at : gambling, domain purchase ( yeah a lot of people do that ) plus some investors and then altcoins.

Bitcoinsummoner

hero member

Activity: 1456

Merit: 624

Maintain Social Distance, Stay safe.

Quote from: PokerFace3 on November 24, 2016, 12:57:31 PM

Quote from: Caladonian on November 24, 2016, 01:37:18 AM

Quote from: goldcoinminer on November 24, 2016, 12:58:33 AM

Quote from: Doms on November 23, 2016, 11:27:33 PM

Part of the reason why someone is hesitant to use bitcoin is due to the limited number of merchants accepting it, be it online or physical shops. I know that there are more shops and online stores accepting bitcoin, compared to two years ago, but still, we see that there's still a lot of work to be done. Currently, I am spending my bitcoins only on a few things and if the need arises, I just convert mine to fiat.

That's for now but we are looking for a better future, the main reason is we are still in the adoption stage and though a lot have adopted but not big enough to attract investors open a business where they will have to accept bitcoin for our convenience as well.

its needed more support coming from the end users if we can introduce bitcoin features for sure many adoption can happen lack of interest coming from business owners because they are not fully informed we needed to give them more idea and let them be one of us too.

Actually I cannot imagine a time when bitcoins transactions would stop or personally I would ever stop spending bitcoins because see I have never gambled easier as with bitcoins I have so I will continue to gamble no matter what.

Plus I can see bitcoins shops opening up and more sites accepting bitcoins, so how can we even think BTC would stop transacting ?

Yeah it is impossible that someone that can not spend they bitcoin right now because many stores and even steam and other sites right now are accepting bitcoin as payment then the news about the paris that they are adding 20 stores that accepting bitcoin as payment.
So i think almost all are spending bitcoin right now ..

PokerFace3

hero member

Activity: 700

Merit: 500

Quote from: Caladonian on November 24, 2016, 01:37:18 AM

Quote from: goldcoinminer on November 24, 2016, 12:58:33 AM

Quote from: Doms on November 23, 2016, 11:27:33 PM

Part of the reason why someone is hesitant to use bitcoin is due to the limited number of merchants accepting it, be it online or physical shops. I know that there are more shops and online stores accepting bitcoin, compared to two years ago, but still, we see that there's still a lot of work to be done. Currently, I am spending my bitcoins only on a few things and if the need arises, I just convert mine to fiat.

That's for now but we are looking for a better future, the main reason is we are still in the adoption stage and though a lot have adopted but not big enough to attract investors open a business where they will have to accept bitcoin for our convenience as well.

its needed more support coming from the end users if we can introduce bitcoin features for sure many adoption can happen lack of interest coming from business owners because they are not fully informed we needed to give them more idea and let them be one of us too.

Actually I cannot imagine a time when bitcoins transactions would stop or personally I would ever stop spending bitcoins because see I have never gambled easier as with bitcoins I have so I will continue to gamble no matter what.

Plus I can see bitcoins shops opening up and more sites accepting bitcoins, so how can we even think BTC would stop transacting ?

californiaquail

full member

Activity: 270

Merit: 130

DeLouvois.com Bitcoin Luxury Marketplace Est. 2016

There will always be people trading bitcoin on exchanges or converting it for Gold, Fiat, Dark Net products or whatever so basically it's always moving, i don't see the point here.

wxa7115

hero member

Activity: 2814

Merit: 734

Bitcoin is GOD

Quote from: batang_bitcoin on November 23, 2016, 07:39:31 PM

Quote from: wxa7115 on November 23, 2016, 06:45:10 PM

Quote from: sportis on November 23, 2016, 03:32:21 AM

If people only save their bitcoins and they don’t spend any satoshi deflation is next state. Many people in this forum advise others to don’t spend and the price goes up. May be they had forgotten that bitcoin is currency and must be in circulation. If people don’t use it for what reason do you want to have it? All are offer and demand.

Bitcoin like any currency is meant to be used to trade, to exchange hands and the more exchanges the better since that means that the currency is useful and needed, if no one spend their coins then a drop in price will follow because that means there is not demand for bitcoin at all.

If there is no demand for bitcoin then it will become totally useless. And if bitcoin has big demand but no one spends it then that will make the value of bitcoin higher as the demand is high but there's no supply since all of us are holding. But I guess this is not going to happen as many are already using bitcoin and invested big amount to this crypto.

But if there is high demand and no one uses their coin the price may rise for a while but eventually demand will drop and with it the price and if people kept holding their bitcoins the price will drop even more.

Aamir1

hero member

Activity: 756

Merit: 500

Quote from: n0ne on November 24, 2016, 05:54:56 AM

If no one spends bitcoin, price fluctuation will happen to higher extent. Importantly bitcoin usage when gets decreased the ratio of adoption too decreases. Possibly for the improvement and growth towards a greater digital currency spending is much needed.

I don't understand. Why would ratio of adoption decrease if the usage decreases? Usage of spending of bitcoins does not have anything with adoption, if new people hear about it they will still join without looking if the people are spending their bitcoins or not. And if just some people hold their coins it wont affect bitcoin from any angle.

Zadicar

legendary

Activity: 1386

Merit: 1020

DGbet.fun - Crypto Sportsbook

Quote from: rickadone on November 24, 2016, 09:49:01 AM

Quote from: goldcoinminer on November 24, 2016, 12:58:33 AM

Quote from: Doms on November 23, 2016, 11:27:33 PM

Part of the reason why someone is hesitant to use bitcoin is due to the limited number of merchants accepting it, be it online or physical shops. I know that there are more shops and online stores accepting bitcoin, compared to two years ago, but still, we see that there's still a lot of work to be done. Currently, I am spending my bitcoins only on a few things and if the need arises, I just convert mine to fiat.

That's for now but we are looking for a better future, the main reason is we are still in the adoption stage and though a lot have adopted but not big enough to attract investors open a business where they will have to accept bitcoin for our convenience as well.

Not really stores are needed to push something, consider a example as paypal , not at much places PP is accepted but the online market is much bigger and enormous and thats what gave a kick to the paypal as a payment processor.
bitcoins being much much better since no fees and no reversible txn but the issue is that none big sites are still accepting BTC yet Sad

No one will really accept bitcoin on their sites because they saw bitcoin as a threat on their businesses thats why. They will just hope that bitcoin wouldnt last long so that theres no competition on their business.I might be wrong on my opinion but this is what im really seeing on this situation.If no one would spend bitcoin then it will stop growingfurther more and the price will stagnant.

danherbias07

legendary

Activity: 3318

Merit: 1133

Leading Crypto Sports Betting & Casino Platform

Quote from: Viscoat on November 23, 2016, 12:40:15 PM

Quote from: danherbias07 on November 23, 2016, 09:33:29 AM

Quote from: alexsandria on November 22, 2016, 06:44:12 PM

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

Its value will remain still as people don't use it. Because the rate of bitcoin depends on its users and miners. The same as, if no one uses it, the nothing will happen

I have thought about that too. But with the recent clarifition to those who are quoting here it could end up at a high price due to demands. But in the long run it might also make a mess. If those people who want to have bitcoin cant get some then they might end up in other coins which is a lost for bitcoin community.

The price could go even higher when more people use it. It seems the price is limited by the number of transactions.

You are right it could. But we should consider waiting when that happens. You see merchants would need to buy some too to provide payments on what needed to be paid. But at the end they will also trade it to fiat to for bringing back their capital and payments for employees.

rickadone

legendary

Activity: 1176

Merit: 1024

Quote from: goldcoinminer on November 24, 2016, 12:58:33 AM

Quote from: Doms on November 23, 2016, 11:27:33 PM

Part of the reason why someone is hesitant to use bitcoin is due to the limited number of merchants accepting it, be it online or physical shops. I know that there are more shops and online stores accepting bitcoin, compared to two years ago, but still, we see that there's still a lot of work to be done. Currently, I am spending my bitcoins only on a few things and if the need arises, I just convert mine to fiat.

That's for now but we are looking for a better future, the main reason is we are still in the adoption stage and though a lot have adopted but not big enough to attract investors open a business where they will have to accept bitcoin for our convenience as well.

Not really stores are needed to push something, consider a example as paypal , not at much places PP is accepted but the online market is much bigger and enormous and thats what gave a kick to the paypal as a payment processor.
bitcoins being much much better since no fees and no reversible txn but the issue is that none big sites are still accepting BTC yet Sad

rizkyhiw

legendary

Activity: 1484

Merit: 1004

Quote from: blackmachinegun on November 24, 2016, 05:05:31 AM

Quote from: goldcoinminer on November 24, 2016, 12:58:33 AM

Quote from: Doms on November 23, 2016, 11:27:33 PM

Part of the reason why someone is hesitant to use bitcoin is due to the limited number of merchants accepting it, be it online or physical shops. I know that there are more shops and online stores accepting bitcoin, compared to two years ago, but still, we see that there's still a lot of work to be done. Currently, I am spending my bitcoins only on a few things and if the need arises, I just convert mine to fiat.

That's for now but we are looking for a better future, the main reason is we are still in the adoption stage and though a lot have adopted but not big enough to attract investors open a business where they will have to accept bitcoin for our convenience as well.

one of the reasons why investors are interested in bitcoin is because there are many people doing spending in bitcoin, so they think bitcoin have users and a big market? I can not imagine if people do not want spending their bitcoin

One of the main purpose of bitcoin invention is for payment system
If noone use bitcoin as payment tool i think it has violated bitcoin purpose itself
The price might keep increasing as long as there a lot of demands it's the basic principle of economy right?

Babayega31

hero member

Activity: 630

Merit: 500

Cryptocurrency Wallet - Denaro.io

Quote from: n0ne on November 24, 2016, 05:54:56 AM

If no one spends bitcoin, price fluctuation will happen to higher extent. Importantly bitcoin usage when gets decreased the ratio of adoption too decreases. Possibly for the improvement and growth towards a greater digital currency spending is much needed.

This a very good topic to deal with, let me tell a scenario about a restaurant cooking foods for the people who loves nice food and yet no one eats the foods you prepare how could the business earn their profit for next operation? Also with bitcoin, if no one spent it there will be no circulation of profit and yet no one can earn, just like the food in the restaurant if no one buys it, they never earns money from it. If people won't spend btc all gambling sites, trading sites and other sites requiring bitcoin transactions won't earn their sales if this happens but its imposible to happen because most internet users knews btc specially this modern days internet is the main information source.

n0ne

hero member

Activity: 2618

Merit: 548

DGbet.fun - Crypto Sportsbook

If no one spends bitcoin, price fluctuation will happen to higher extent. Importantly bitcoin usage when gets decreased the ratio of adoption too decreases. Possibly for the improvement and growth towards a greater digital currency spending is much needed.

blackmachinegun

hero member

Activity: 532

Merit: 500

Quote from: goldcoinminer on November 24, 2016, 12:58:33 AM

Quote from: Doms on November 23, 2016, 11:27:33 PM

Part of the reason why someone is hesitant to use bitcoin is due to the limited number of merchants accepting it, be it online or physical shops. I know that there are more shops and online stores accepting bitcoin, compared to two years ago, but still, we see that there's still a lot of work to be done. Currently, I am spending my bitcoins only on a few things and if the need arises, I just convert mine to fiat.

That's for now but we are looking for a better future, the main reason is we are still in the adoption stage and though a lot have adopted but not big enough to attract investors open a business where they will have to accept bitcoin for our convenience as well.

one of the reasons why investors are interested in bitcoin is because there are many people doing spending in bitcoin, so they think bitcoin have users and a big market? I can not imagine if people do not want spending their bitcoin

Caladonian

hero member

Activity: 1302

Merit: 540

Quote from: goldcoinminer on November 24, 2016, 12:58:33 AM

Quote from: Doms on November 23, 2016, 11:27:33 PM

Part of the reason why someone is hesitant to use bitcoin is due to the limited number of merchants accepting it, be it online or physical shops. I know that there are more shops and online stores accepting bitcoin, compared to two years ago, but still, we see that there's still a lot of work to be done. Currently, I am spending my bitcoins only on a few things and if the need arises, I just convert mine to fiat.

That's for now but we are looking for a better future, the main reason is we are still in the adoption stage and though a lot have adopted but not big enough to attract investors open a business where they will have to accept bitcoin for our convenience as well.

its needed more support coming from the end users if we can introduce bitcoin features for sure many adoption can happen lack of interest coming from business owners because they are not fully informed we needed to give them more idea and let them be one of us too.

goldcoinminer

hero member

Activity: 952

Merit: 500

Quote from: Doms on November 23, 2016, 11:27:33 PM

Part of the reason why someone is hesitant to use bitcoin is due to the limited number of merchants accepting it, be it online or physical shops. I know that there are more shops and online stores accepting bitcoin, compared to two years ago, but still, we see that there's still a lot of work to be done. Currently, I am spending my bitcoins only on a few things and if the need arises, I just convert mine to fiat.

That's for now but we are looking for a better future, the main reason is we are still in the adoption stage and though a lot have adopted but not big enough to attract investors open a business where they will have to accept bitcoin for our convenience as well.

Doms

hero member

Activity: 714

Merit: 500

Part of the reason why someone is hesitant to use bitcoin is due to the limited number of merchants accepting it, be it online or physical shops. I know that there are more shops and online stores accepting bitcoin, compared to two years ago, but still, we see that there's still a lot of work to be done. Currently, I am spending my bitcoins only on a few things and if the need arises, I just convert mine to fiat.

Ryananda

sr. member

Activity: 812

Merit: 250

Quote from: Umigokath on November 23, 2016, 10:08:05 PM

Most likely the bitcoin will go down soon or later than and also will less more used too so it would not be good at all for the bitcoin.

Yes it definitely will happen if bitcoin is not used anymore. I'm sure if bitcoin does not grow and decline, fast or slow bitcoin users would definitely move to the crypto better. And if it is not addressed bitcoin will definitely outdated. But I guess it would not be possible because bitcoin growing and increasingly fore bitcoin has a number of users continues to grow.

Topic: If no one spends bitcoin what might happen? - page 45. (Read 52622 times)