If no one spends bitcoin what might happen? - page 49.

johnnyyash

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Quote from: 20kevin20 on July 14, 2016, 06:52:20 AM

Not spending the money leads the Bitcoin to a big collapse. That would obviously send the price to the 2011-2012's. But this won't happen because it's becoming more and more known by people in this world, and big transactions are taking place each second/minute. More people finding out and using Bitcoin = higher price.

i secondly agree with you...btc is becoming widely known, though not spend of it will decrease or low use of it!!!!

markyminer

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Quote from: Rosberger on November 13, 2016, 07:06:37 PM

Quote from: izlevinv on November 13, 2016, 04:02:10 PM

Quote from: hawkins on November 13, 2016, 02:00:59 PM

I guess if no one spends bitcoin they collect, it will be in vain efforts we seek and collect bitcoin. Grin

Well, I believe that if it happens bitcoin will be something that is not useful, and will probably appear altcoin which can exceed and replace bitcoin, and when the moment comes, may bitcoin will never be used again, but I'm sure it will never come Cheesy

If you are holding bitcoins then its really hard to believe that you will never spend them as bitcoin is also an form of money that should be spent like fiat money and if no one will spend their bitcoins then we will never see the higher price of bitcoins in future and it will make bitcoin a weaker currency.

Its a good question and I think that it would be very bad for us all, it would mean that we all would not spend any bitcoins, its simply not logical.
If this would not happen the bitcoin will not survive it for long.

to me if they stop spending bitcoin for some particular time then the price of bitcoin will certainly go high as the demand will increase as compare to supply, but if they permanantly stop spending bitcoins then it will not be good in favour of bitcoin,

olubams

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If truly no one spends Bitcoin, then I see it fading away with time because it has failed in one of the major characteristics of money which is acceptance then I see other currency taking over from Bitcoin. Even before the advent of money according to History several items are being used as money at different times of evolution in which the people there at that point in time accepted to function as money so which means anything they rejected cease to function as money and see that happening to Bitcoin...

Slark

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People often tell their theories how bitcoin full adoption is needed and will be completely game changer. Yet in the same sentence they advise you to never spend your bitcoins.
Isn't it a hell of a contradiction? How can we reach adoption when business owners, shops, financial institutions won't be able to notice bitcoin users because we all HODL?
Don't you think that by holding bitcoin we harm bitcoin adoption?

puremage111

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went all down? And i will hoard it tho, i will buy as much as i can because one day it might be reuse again

serjent05

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Quote from: sabbirshm on November 14, 2016, 10:57:23 PM

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

I also think bitcoin will stuck in one price, and it won't move.It will cause a great hamper on the develop of bitcoin.If people stopped investing on bitcoin then bitcoin won't spreading like now and it will be a boring crypto currency.But I also think that it will never happen, people in all over the world will invest in bitcoin always and help bitcoin to progress more.

If your stuck price is 0 (worthless) then I agree. A coin that has no use will always decline in price until it hit the bottom then it will stuck there forever. As per analysis, hoarding an item will increase its price, but in some point, while hoarding the item, the owner release it slowly so that it will not saturate the market and the price won't go down fast. But not spending or not releasing is different. Unless it is an important commodity, people will surely forget it and move on to alternative.

BitFinnese

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Quote from: arcanaaerobics on November 15, 2016, 03:58:54 AM

So if none use, the coin have no purpose, is just bytes and have no value...

Isn't something that you can put your money to security if none use, it's like any other currency.

Definitely! So it is a good thing to spend bitcoin and use it as what it is intended to be. Currency to buy stuff online. Even if the usage of bitcoin is very limited at this point or shall I say the store that accept bitcoin, with the number of people using bitcoin as currency and economy booming for bitcoin, the time will come that majority of the merchant will accept bitcoin and it will be easier for us to use bitcoin anywhere.

arcanaaerobics

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So if none use, the coin have no purpose, is just bytes and have no value...

Isn't something that you can put your money to security if none use, it's like any other currency.

prabowo96

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it's showtime

Quote from: sabbirshm on November 14, 2016, 10:57:23 PM

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

I also think bitcoin will stuck in one price, and it won't move.It will cause a great hamper on the develop of bitcoin.If people stopped investing on bitcoin then bitcoin won't spreading like now and it will be a boring crypto currency.But I also think that it will never happen, people in all over the world will invest in bitcoin always and help bitcoin to progress more.

I don't think it will stuck in one price, people will stop to spend, not stop to trade so the market will move...

However if none spend the coin it's because the coin is dead, so yeah, it can be stucked... on zero.

sabbirshm

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Activity: 294

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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

I also think bitcoin will stuck in one price, and it won't move.It will cause a great hamper on the develop of bitcoin.If people stopped investing on bitcoin then bitcoin won't spreading like now and it will be a boring crypto currency.But I also think that it will never happen, people in all over the world will invest in bitcoin always and help bitcoin to progress more.

groll

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Activity: 336

Merit: 250

Quote from: Multipulty on November 13, 2016, 05:56:34 PM

Quote from: Doamader on November 13, 2016, 05:51:22 PM

Quote from: izlevinv on November 13, 2016, 04:02:10 PM

Quote from: hawkins on November 13, 2016, 02:00:59 PM

I guess if no one spends bitcoin they collect, it will be in vain efforts we seek and collect bitcoin. Grin

Well, I believe that if it happens bitcoin will be something that is not useful, and will probably appear altcoin which can exceed and replace bitcoin, and when the moment comes, may bitcoin will never be used again, but I'm sure it will never come Cheesy

If you are holding bitcoins then its really hard to believe that you will never spend them as bitcoin is also an form of money that should be spent like fiat money and if no one will spend their bitcoins then we will never see the higher price of bitcoins in future and it will make bitcoin a weaker currency.

Bitcoin into circulating are enought to cover all bitcoiners needs, people does store their savings into gold and they never had affected the value of gold, the same happens with bitcoin, some save while others does invest and risk their coins.

To grow your coins in quick time you need to take that risk of investing and if luck favors you then you can make some really good profits in short term and it will also help in multiplying your bitcoins and its important to circulate the coins either by investing or by spending them for the better economy.

Just like fiat, bitcoin need to be spent to have a good flow of economy. It should be circulated in the community to give life to it. I think bitcoin has a value because we are using it. And if we wont use and spend it, what would gonna be it for. I mean, what's gonna be its value if no one spends it. I think it will be just a virtual something that has no value.

dominikherzog5

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someone may think the price will go down,but I don't think so.I think every people will spend money everyday. Purpose people to join cryptocoin is to get more money for them life. But when some people more likely to save their money its wouldn't effect to market.

stark101

newbie

Activity: 42

Merit: 0

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

Well in my opinion, maybe it will fall down since no one will spend bitcoin, the price will not increase. maybe it will also disappear and no one will used it. But then, no one users will think this kind of idea.

Xester

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Activity: 994

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Quote from: rphk on July 14, 2016, 05:59:04 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

I agree. just like the low of demand, the more we use it, the more it will increase it price. but once we freeze it, its price will become stable or if worst comes to worst, its value will depreciate day by day. so lets use and spend bitcoins like the real money since bitcoins was very useful now a days. we can even spend it buying goods.

delliaerd

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Quote from: Rosberger on November 13, 2016, 07:06:37 PM

Quote from: izlevinv on November 13, 2016, 04:02:10 PM

Quote from: hawkins on November 13, 2016, 02:00:59 PM

I guess if no one spends bitcoin they collect, it will be in vain efforts we seek and collect bitcoin. Grin

Well, I believe that if it happens bitcoin will be something that is not useful, and will probably appear altcoin which can exceed and replace bitcoin, and when the moment comes, may bitcoin will never be used again, but I'm sure it will never come Cheesy

If you are holding bitcoins then its really hard to believe that you will never spend them as bitcoin is also an form of money that should be spent like fiat money and if no one will spend their bitcoins then we will never see the higher price of bitcoins in future and it will make bitcoin a weaker currency.

Its a good question and I think that it would be very bad for us all, it would mean that we all would not spend any bitcoins, its simply not logical.
If this would not happen the bitcoin will not survive it for long.

Bitcoin must use for currency. the holder must know that the thing that they hold is not just thing of investmemt but also ad currency. I think If they feel can get enough profit they will sell it. I am scare that if to many bitcoin which already hold will make bitcoin die, But I hope bitcoin would not die.

Zalfrin

sr. member

Activity: 401

Merit: 250

Quote from: Rosberger on November 13, 2016, 07:06:37 PM

Quote from: izlevinv on November 13, 2016, 04:02:10 PM

Quote from: hawkins on November 13, 2016, 02:00:59 PM

I guess if no one spends bitcoin they collect, it will be in vain efforts we seek and collect bitcoin. Grin

Well, I believe that if it happens bitcoin will be something that is not useful, and will probably appear altcoin which can exceed and replace bitcoin, and when the moment comes, may bitcoin will never be used again, but I'm sure it will never come Cheesy

If you are holding bitcoins then its really hard to believe that you will never spend them as bitcoin is also an form of money that should be spent like fiat money and if no one will spend their bitcoins then we will never see the higher price of bitcoins in future and it will make bitcoin a weaker currency.

Its a good question and I think that it would be very bad for us all, it would mean that we all would not spend any bitcoins, its simply not logical.
If this would not happen the bitcoin will not survive it for long.

Bitcoin will loose all its shine if no one will spend it and it will also bring the value of bitcoins to a lower level but I don't think that will ever happens people will continue to spend their bitcoins in trading and gambling sites which will eventually help in circulating the coins.

Rosberger

member

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Merit: 10

Quote from: izlevinv on November 13, 2016, 04:02:10 PM

Quote from: hawkins on November 13, 2016, 02:00:59 PM

I guess if no one spends bitcoin they collect, it will be in vain efforts we seek and collect bitcoin. Grin

Well, I believe that if it happens bitcoin will be something that is not useful, and will probably appear altcoin which can exceed and replace bitcoin, and when the moment comes, may bitcoin will never be used again, but I'm sure it will never come Cheesy

If you are holding bitcoins then its really hard to believe that you will never spend them as bitcoin is also an form of money that should be spent like fiat money and if no one will spend their bitcoins then we will never see the higher price of bitcoins in future and it will make bitcoin a weaker currency.

Its a good question and I think that it would be very bad for us all, it would mean that we all would not spend any bitcoins, its simply not logical.
If this would not happen the bitcoin will not survive it for long.

Multipulty

sr. member

Activity: 399

Merit: 250

Quote from: Doamader on November 13, 2016, 05:51:22 PM

Quote from: izlevinv on November 13, 2016, 04:02:10 PM

Quote from: hawkins on November 13, 2016, 02:00:59 PM

I guess if no one spends bitcoin they collect, it will be in vain efforts we seek and collect bitcoin. Grin

Well, I believe that if it happens bitcoin will be something that is not useful, and will probably appear altcoin which can exceed and replace bitcoin, and when the moment comes, may bitcoin will never be used again, but I'm sure it will never come Cheesy

If you are holding bitcoins then its really hard to believe that you will never spend them as bitcoin is also an form of money that should be spent like fiat money and if no one will spend their bitcoins then we will never see the higher price of bitcoins in future and it will make bitcoin a weaker currency.

Bitcoin into circulating are enought to cover all bitcoiners needs, people does store their savings into gold and they never had affected the value of gold, the same happens with bitcoin, some save while others does invest and risk their coins.

To grow your coins in quick time you need to take that risk of investing and if luck favors you then you can make some really good profits in short term and it will also help in multiplying your bitcoins and its important to circulate the coins either by investing or by spending them for the better economy.

Doamader

hero member

Activity: 756

Merit: 501

Quote from: izlevinv on November 13, 2016, 04:02:10 PM

Quote from: hawkins on November 13, 2016, 02:00:59 PM

I guess if no one spends bitcoin they collect, it will be in vain efforts we seek and collect bitcoin. Grin

Well, I believe that if it happens bitcoin will be something that is not useful, and will probably appear altcoin which can exceed and replace bitcoin, and when the moment comes, may bitcoin will never be used again, but I'm sure it will never come Cheesy

If you are holding bitcoins then its really hard to believe that you will never spend them as bitcoin is also an form of money that should be spent like fiat money and if no one will spend their bitcoins then we will never see the higher price of bitcoins in future and it will make bitcoin a weaker currency.

Bitcoin into circulating are enought to cover all bitcoiners needs, people does store their savings into gold and they never had affected the value of gold, the same happens with bitcoin, some save while others does invest and risk their coins.

deisik

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Quote from: serjent05 on November 13, 2016, 11:24:21 AM

Quote from: deisik on November 13, 2016, 11:14:01 AM

Quote from: Carlsen on November 13, 2016, 10:40:19 AM

Quote from: ivanst776 on November 13, 2016, 10:21:38 AM

If people stop spending bitcoin then the interest of people is dropping and not anymore to even heard about bitcoin.

If usability of bitcoin is dropped then it means that the bitcoin price will drop too, businesses will move to another currency etc.

I'm afraid that people will move their funds on another currency like litecoin or ethereum which has take traders attention.

Bitcoin really needs to be used as payment.
The bitcoin payment processing industry is the most important thing that has helped bitcoin to become what it is at the moment.
It connects bitcoin to the economy, no other crypto coin can deliver that.
If that would be removed, we would have a useless low priced altcoin instead.

Bitcoin is a payment processing system in and of itself, and as such it doesn't need some "payment processing industry" built around it to process transactions like Visa, MasterCard, or wire transfer systems which are required to process fiat payments (barring cash payments, of course). It has been in place since Bitcoin was born. What is required is mass adoption of Bitcoin by vendors and producers who are ready to sell their goods and services for bitcoins directly, without converting them later into fiat. But so far Bitcoin didn't get much traction in this department, and 99% of its current value comes from speculation and profiteering...

Whether you like it or not

This is true that bitcoin is a payment processing unit itself but at the current state where less merchants is using bitcoin as currency and majority are not accepting bitcoin as mode of payment, payment processing industry were created in order to take advantage of the profit that can be taken from the service and at the same time, enable bitcoin to have usage virtually in real life stuff by creating transaction from bitcoin to non-bitcoin accepting institution possible..

I would rather call such services payment converting services, since the part of them which deals with processing payments as such has nothing to do with Bitcoin itself. As I got it, various Bitcoin payment cards are meant here where you pay with such a card in a shop mall for everyday goods and services. Payments are processed in fiat, and then the grand total processed is calculated in bitcoins, and the outstanding amount of bitcoins is taken from the user's wallet. These payment cards are a useful invention of the last few years, of course, but personally, I don't think that paying for your everyday needs in bitcoins is a good idea in and of itself...

It is like paying with a gold coin and getting change in nickels

Topic: If no one spends bitcoin what might happen? - page 49. (Read 52605 times)