If no one spends bitcoin what might happen? - page 52.

Jamada

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Quote from: croutonhexagon on October 22, 2016, 09:32:06 AM

If everyone keeps their bitcoin on hold then there will be no ups and downs in bitcoin market and it's price will drop from stable stage to bottom line. By such activity miner will also quit mining and there would be no more bitcoin mining system and it's quantity will become fixed at some million quantity. And all bitcoin accepting site will also remove the payment api and lot more chances to happen.

If most people keep the bitcoin and do not use it, the price of the bitcoin will be very volatile, similar to now.

canah17

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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

hey? i would like to share my ideas. Well for me it would be a big problem to the creator and the supporters it self if no one would spend them they well destroy bitcoin in such way internet would be boring without bitcoin i can't see a future without bitcoin that made my life in internet alive but if that will happened whats the point in earning bitcoin if no one spends it its hard for the creator to create more bitcoin because no will spend it and then you saved up more money what if the creator will create another bitcoin system for that you saved up the old bitcoin is no more then you cant spend it because its old bitcoin well the new bitcoin is in and all your savings will go down the drain and your sacrifice will be fall.. Cheesy

so spend it wisely Cheesy

croutonhexagon

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If everyone keeps their bitcoin on hold then there will be no ups and downs in bitcoin market and it's price will drop from stable stage to bottom line. By such activity miner will also quit mining and there would be no more bitcoin mining system and it's quantity will become fixed at some million quantity. And all bitcoin accepting site will also remove the payment api and lot more chances to happen.

tee-rex

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Quote from: shield132 on October 22, 2016, 07:19:46 AM

I asked this question someone in pm and he said me that the price is set by the last buy and If there is no selling or buying then the price remains the same. If it is true than image what will happen if there won't be any transaction 2-3 hour and I'll sell bitcoin to someone by 1 million dollar. It would be great, wouldn't be? Imagine if that will happen how much profit will be made by once brought 1 bitcoin with 600 usd price. There won't be such a great thing Cheesy

I would say that the current price is what you are able to sell (or buy) something for at that very moment. What the price has been earlier is only an approximate reference point that you may hope or strive for. In this fashion, someone selling 1 satoshi for 1 dollar, which would be equal to $100M per bitcoin, is in no way a guarantee that you will be able to sell anything for even half (millionth times) that price.

dothebeats

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Just to make it clear, by spending, you mean buying things directly with it, right? To be honest, even if no one spend or use bitcoin in purchasing, value would still be there because bitcoin is being treated as a commodity too, and traders would willingly buy it at any given price point. Good thing with bitcoin is that it's not directly tied to buying and spending because you can buy and sell the currency too, which also incurs a high demand and in basic economics, that means high price or value.

thisappointed

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I think bitcoin would slowly die because it has no value at all since no one will use it anyway if that happens. But I think that is impossible to happen though because many people really loves bitcoin. Bitcoin helps a lot of people and gives us a source of income and so on, let's say that no one will use bitcoin anymore, I think that is the most worst decision in life that all of us would make. Abandoning bitcoin is the worst, in my opinion.

Mr. Green

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It will kill bitcoin. If no one spends, no one will be able to buy. It will stop every trade there is. Exchanges will show 650$/btc (or whatever the current price at that time) but in reality, it will be 0$/btc.

BeetcoinScummer

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Quote from: Oilacris on October 22, 2016, 08:26:18 AM

Quote from: Aamir1 on October 22, 2016, 05:28:59 AM

Quote from: buyinbtc on October 21, 2016, 02:29:13 PM

bitcoins price would fall a bit as people wouldn't buy it anymore to spend, but bitcoin wouldn't die yet, as people would still use bitcoins to trade to other cryptos

Price wont fall if the users of bitcoin community old their coins, as the most percentage of all bitcoins are still in circulation and buying and selling in exchanges is always going on, so if the quantity decreases because of holdings of people then the price would likely increase as demand increases and quantity remains less.

If theres no activity on bitcoin ecosystem like trading selling and buying on exchanges and all over the world for sure bitcoin would not move even a single cent in my own opinion but as we all observe bitcoin price would surely move because of activities that are happening daily.

If there is absolutely no activity it is as good as though the price were $0. This implies that there is no market for bitcoins and you couldn't sell yours if you wanted to.

Oilacris

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Quote from: Aamir1 on October 22, 2016, 05:28:59 AM

Quote from: buyinbtc on October 21, 2016, 02:29:13 PM

bitcoins price would fall a bit as people wouldn't buy it anymore to spend, but bitcoin wouldn't die yet, as people would still use bitcoins to trade to other cryptos

Price wont fall if the users of bitcoin community old their coins, as the most percentage of all bitcoins are still in circulation and buying and selling in exchanges is always going on, so if the quantity decreases because of holdings of people then the price would likely increase as demand increases and quantity remains less.

If theres no activity on bitcoin ecosystem like trading selling and buying on exchanges and all over the world for sure bitcoin would not move even a single cent in my own opinion but as we all observe bitcoin price would surely move because of activities that are happening daily.

shield132

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I asked this question someone in pm and he said me that the price is set by the last buy and If there is no selling or buying then the price remains the same. If it is true than image what will happen if there won't be any transaction 2-3 hour and I'll sell bitcoin to someone by 1 million dollar. It would be great, wouldn't be? Imagine if that will happen how much profit will be made by once brought 1 bitcoin with 600 usd price. There won't be such a great thing Cheesy

Aamir1

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Quote from: buyinbtc on October 21, 2016, 02:29:13 PM

bitcoins price would fall a bit as people wouldn't buy it anymore to spend, but bitcoin wouldn't die yet, as people would still use bitcoins to trade to other cryptos

Price wont fall if the users of bitcoin community old their coins, as the most percentage of all bitcoins are still in circulation and buying and selling in exchanges is always going on, so if the quantity decreases because of holdings of people then the price would likely increase as demand increases and quantity remains less.

vindicare

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Bitcoin will lose its value because of non spending bit it's inevitable to spend bitcoin because you have something in your mind to spend on like online purchases example of it are ebooks and subscribing to magazine online. I think if someone earning thru bitcoin they will use bitcoin too not fiat.

apriloni

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bitcoin is a crypto currency if we do not use or spend bitcoin for purchasing goods or product then bitcoin will be break his power and it will be weak and no one will be adopt the bitcoin for their business .

Bestwishes745

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Quote from: mishra1994u on October 21, 2016, 02:38:13 PM

Quote from: buyinbtc on October 21, 2016, 02:29:13 PM

bitcoins price would fall a bit as people wouldn't buy it anymore to spend, but bitcoin wouldn't die yet, as people would still use bitcoins to trade to other cryptos

i dont think the price will fall but every thing will become really still and bitcoin price stay the same becuase if no one buying it then no one selling it as well,so it will not make any changes in any thing,so the price wont that and it will become constant and it will exist.

if no one will spend it then the value maybe remain the same or may fluctuate as the traders maybe there but bitcoin will be not favored by normal people much because if no one will spend bitcoin then the companies will not adopt bitcoin for their services.

Osarman

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if no one spends their bitcoin then i think that bitcoin will be going to dead and bitcoin price depend on adoption and then use it as currency and there is a lot of people are using bitcoin in big amount as currency for online shopping and for other product .

tee-rex

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Quote from: mishra1994u on October 21, 2016, 02:38:13 PM

Quote from: buyinbtc on October 21, 2016, 02:29:13 PM

bitcoins price would fall a bit as people wouldn't buy it anymore to spend, but bitcoin wouldn't die yet, as people would still use bitcoins to trade to other cryptos

i dont think the price will fall but every thing will become really still and bitcoin price stay the same becuase if no one buying it then no one selling it as well,so it will not make any changes in any thing,so the price wont that and it will become constant and it will exist.

If you ask me, things won't unfold in the way you portray them. If no one is willing to buy, the competition between sellers will instantly kick in, and the price will start quickly collapsing. If no one is really going to buy any amount at whatever price, the price will eventually collapse as low as only possible to collapse. With Bitcoin, it will be just 1 cent for however many bitcoins, and someone will be asking exactly that at the end of the day.

mishra1994u

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Quote from: buyinbtc on October 21, 2016, 02:29:13 PM

bitcoins price would fall a bit as people wouldn't buy it anymore to spend, but bitcoin wouldn't die yet, as people would still use bitcoins to trade to other cryptos

i dont think the price will fall but every thing will become really still and bitcoin price stay the same becuase if no one buying it then no one selling it as well,so it will not make any changes in any thing,so the price wont that and it will become constant and it will exist.

buyinbtc

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bitcoins price would fall a bit as people wouldn't buy it anymore to spend, but bitcoin wouldn't die yet, as people would still use bitcoins to trade to other cryptos

QuestionAuthority

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Hum, what might happen?

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Bitcoinsummoner

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Quote from: Mastsetad on October 21, 2016, 01:57:25 PM

Quote from: damdri17 on October 20, 2016, 05:02:36 PM

If no one spends bitcoins, rate will be stuck in one rate. people would always spend money though a lot of them may hold some

Not everyone in the community are holding bitcoins, and even if some of them are holding then they are not having all the coins with them, but most of the coins are in circulation and even the coins which are held in wallets would surely come out some day as everyone will have to sell them some time.

If many people are not spending i think it can be still affect the value since we have the miners out there are increasing the amount of bitcoin.. and it is always depends in demand and supply bitcoin will never be stable..

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