If no one spends bitcoin what might happen? - page 59.

Aamir1

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Quote from: dearbesz1219 on September 16, 2016, 10:26:11 PM

Well people will continue to buy something what they want to buy. But I was wondering why no one spends bitcoin? there must be a valid reason before that happen?

The valid reason behind holding bitcoins is simple, to just grow their value with the time as bitcoin is a currency that grows its value with the time so if someone does not spend his coins his purpose would simply be to have more in coming time.

groll

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Quote from: Mr.grin on September 16, 2016, 10:27:30 PM

bitcoin prices probably will rise if nothing is spent bitcoin. everyone will hold bitcoin they have, so that the transaction will be hampered, and make bitcoin prices rise, but it will happen if bitcoin still be produced. but it's just good possibility, because of possible poor bitcoin prices may be down, but I guess it will be very tough going

Yes it will, just like the other commodities like oil. If their is a huge demand and the supply compensate it then the price is low. But if their is a huge demand and there is a little supply then there is a price hike. People who do this knows how to make bitcoin price higher. And if no one spends it the tendency is for the other people to look for alternative digital currency then there could be a possible death of bitcoin. But I do not think that it will happen. It is impossible.

iv4n

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Situation now is a bit different then before, and I don`t believe that we can stop spending bitcoins that we earn here on forum, with gambling or trading, selling things, or any other way. Blockchain is revolution how I see it, and if we stop spending bitcoins, some other altcoin will take it place.
But there is no chance that to happen, this is industry that is going forward. We are trying to earn, and from that to make even more somehow. People have different jobs for bitcoin now, different strategies to get rich.

pinkpanther03

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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 think people will go back for where they started before bitcoin created. Besides people lived in different way whatever currency they have, they just found an alternative way to solve their financial problem when bitcoin appeared.

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Quote from: Mr.grin on September 16, 2016, 10:27:30 PM

bitcoin prices probably will rise if nothing is spent bitcoin. everyone will hold bitcoin they have, so that the transaction will be hampered, and make bitcoin prices rise, but it will happen if bitcoin still be produced. but it's just good possibility, because of possible poor bitcoin prices may be down, but I guess it will be very tough going

spending is not equal to not selling.

if noone spends bitcoin means bitcoin no longer has any real world usage and that will be a bad day for bitcoin because it can lose its popularity so the price will actually go down.

a big part of the price rise is because of all the usages that people get out of it and the same reason is why none of the altcoins can rise up above a certain price.

Mr.grin

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bitcoin prices probably will rise if nothing is spent bitcoin. everyone will hold bitcoin they have, so that the transaction will be hampered, and make bitcoin prices rise, but it will happen if bitcoin still be produced. but it's just good possibility, because of possible poor bitcoin prices may be down, but I guess it will be very tough going

dearbesz1219

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Well people will continue to buy something what they want to buy. But I was wondering why no one spends bitcoin? there must be a valid reason before that happen?

saiha

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Quote from: stepwilli on September 16, 2016, 04:28:46 PM

Quote from: richkellj on September 15, 2016, 04:11:48 AM

Quote from: Monnt on September 14, 2016, 09:46:28 AM

Quote from: richkellj on September 10, 2016, 05:42:42 AM

Quote from: agamasrori on September 09, 2016, 10:28:15 PM

If no one spends bitcoin in long term, that will impact to the bitcoin flow. Its gonna be stagnant and also bitcoin will drop of popularity. But a realise that people still love use bitcoin bicause bitcoin technology is the modern one. And i am sure that online transaction is need in the future. So bitcoin is useful

The question of no one spends bitcoin is highly hypothetical. Practically, there will not be any reason for all the bitcoin holders to save bitcoin for the same period of time. Everyone spends bitcoins for his own purpose but in different time. So, we can not expect no one will spend bitcoin for a particular time duration. An impractical one.

Yes, even we are having the hope that bitcoin will reach an imaginable price levels, some people keep on sending it for their needs. Based on your profession or your wealth level, you will decide to save bitcoin or spend bitcoin, expecting all the people to do one thing (not to spend) is not practically right assumption.

But here, we are discussing if practically everybody taking only one decision with the reason of expecting higher bitcoin value, what would happen?
I expect bitcoin will reach higher price level due to high demand from the rest of the people who are yet to have their first bitcoins.

But, at the same time when the flow of movement gets affected, we can expect some other negative impact also. When there is no movement of bitcoin, there will be very less chances for it to get spread among new investors, so the rate of bitcoin may get decreased over time.

Well this is the really going to happen if no one spends bitcoin and all of us are just going to hold. There is no going to be a movement and increase for the price as there is no usage.

And for sure it can led for bitcoin to die at early stage if there are no consumers but only holders. Because holding is not really going to help and contribute for the adoption and growth of bitcoin.

So if you are going to hold make sure that you are still consuming some bitcoins for helping the economy of btc.

stepwilli

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Quote from: richkellj on September 15, 2016, 04:11:48 AM

Quote from: Monnt on September 14, 2016, 09:46:28 AM

Quote from: richkellj on September 10, 2016, 05:42:42 AM

Quote from: agamasrori on September 09, 2016, 10:28:15 PM

If no one spends bitcoin in long term, that will impact to the bitcoin flow. Its gonna be stagnant and also bitcoin will drop of popularity. But a realise that people still love use bitcoin bicause bitcoin technology is the modern one. And i am sure that online transaction is need in the future. So bitcoin is useful

The question of no one spends bitcoin is highly hypothetical. Practically, there will not be any reason for all the bitcoin holders to save bitcoin for the same period of time. Everyone spends bitcoins for his own purpose but in different time. So, we can not expect no one will spend bitcoin for a particular time duration. An impractical one.

Yes, even we are having the hope that bitcoin will reach an imaginable price levels, some people keep on sending it for their needs. Based on your profession or your wealth level, you will decide to save bitcoin or spend bitcoin, expecting all the people to do one thing (not to spend) is not practically right assumption.

But here, we are discussing if practically everybody taking only one decision with the reason of expecting higher bitcoin value, what would happen?
I expect bitcoin will reach higher price level due to high demand from the rest of the people who are yet to have their first bitcoins.

But, at the same time when the flow of movement gets affected, we can expect some other negative impact also. When there is no movement of bitcoin, there will be very less chances for it to get spread among new investors, so the rate of bitcoin may get decreased over time.

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Quote from: richkellj on September 15, 2016, 04:11:48 AM

Quote from: Monnt on September 14, 2016, 09:46:28 AM

Quote from: richkellj on September 10, 2016, 05:42:42 AM

Quote from: agamasrori on September 09, 2016, 10:28:15 PM

If no one spends bitcoin in long term, that will impact to the bitcoin flow. Its gonna be stagnant and also bitcoin will drop of popularity. But a realise that people still love use bitcoin bicause bitcoin technology is the modern one. And i am sure that online transaction is need in the future. So bitcoin is useful

The question of no one spends bitcoin is highly hypothetical. Practically, there will not be any reason for all the bitcoin holders to save bitcoin for the same period of time. Everyone spends bitcoins for his own purpose but in different time. So, we can not expect no one will spend bitcoin for a particular time duration. An impractical one.

Yes, even we are having the hope that bitcoin will reach an imaginable price levels, some people keep on sending it for their needs. Based on your profession or your wealth level, you will decide to save bitcoin or spend bitcoin, expecting all the people to do one thing (not to spend) is not practically right assumption.

But here, we are discussing if practically everybody taking only one decision with the reason of expecting higher bitcoin value, what would happen?
I expect bitcoin will reach higher price level due to high demand from the rest of the people who are yet to have their first bitcoins.

But along with that usage of bitcoin is also compulsory to increase the demand as if there will be no one who will use/spend their coins then no one will provide payment with bitcoin for selling their services as they will know that no one is going to spend bitcoin and with that bitcoin will start to lose its value.

StarofBTC

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Quote from: naidray on September 14, 2016, 12:31:54 PM

I'm not sure about all the people will not spend bitcoin but we can take a guess work like only 1% of people are spending bitcoin and the rest are saving bitcoin. In this kind of situation price of bitcoin will rapidly grow. Because the zero hour supply will lead to negative consequence whereas very less supply will induce high demand.

You must be right. Practically there will not be any chances for all the people to stop spending, but there are chances only very less people are spending and all others are saving. I guess already this kind of situation is only going on as we are spreading about bitcoins' future value which might have made more people to save their bitcoins.

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Quote from: SquallLeonhart on September 15, 2016, 02:26:00 PM

Quote from: Aamir1 on September 15, 2016, 12:45:19 PM

Quote from: el kaka22 on September 15, 2016, 09:03:14 AM

Quote from: ausbit on September 13, 2016, 01:21:46 AM

Quote from: pakitz on September 09, 2016, 10:33:55 PM

i guess most of the miners right now is hording btc and waiting for the jackpot Grin

.. as of today i think the value of btc is getting back to its shape.. the value of btc will surely go up if everybody's saving coins..

Yes, some miners might save some portion of block rewards. But practically all the miners will get only chances to save partial amount of what they are being rewarded from mining as the mining costs will force them to spend some of bitcoins to continue the mining process.

Here too, you we are stating about only few miners not all bitcoin community. Everybody will have some reason to spend bitcoin and saving all the bitcoin is not at all possible for miners as well as for any bitcoin earner. So, when there is no reason for all the people not to spend bitcoins, then we need not to worry about the consequences if that happens.

Exactly, there would probably be users, earners or buyers to spend bitcoin any time as the community is really large so if some of them are holding or not spending their coins that wont make a problem while many others are spending on the other side.

Yes and I think that there are very few people who will prefer to hold them for a long term without spending it, people who believes in taking risks and to make quick profits will surely sell their coins.

Yes as I have learned, selling is almost like spending also. Its just in different way. If only shops are getting popular then somr could profit in it. I mean almost all of us.

SquallLeonhart

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Quote from: Aamir1 on September 15, 2016, 12:45:19 PM

Quote from: el kaka22 on September 15, 2016, 09:03:14 AM

Quote from: ausbit on September 13, 2016, 01:21:46 AM

Quote from: pakitz on September 09, 2016, 10:33:55 PM

i guess most of the miners right now is hording btc and waiting for the jackpot Grin

.. as of today i think the value of btc is getting back to its shape.. the value of btc will surely go up if everybody's saving coins..

Yes, some miners might save some portion of block rewards. But practically all the miners will get only chances to save partial amount of what they are being rewarded from mining as the mining costs will force them to spend some of bitcoins to continue the mining process.

Here too, you we are stating about only few miners not all bitcoin community. Everybody will have some reason to spend bitcoin and saving all the bitcoin is not at all possible for miners as well as for any bitcoin earner. So, when there is no reason for all the people not to spend bitcoins, then we need not to worry about the consequences if that happens.

Exactly, there would probably be users, earners or buyers to spend bitcoin any time as the community is really large so if some of them are holding or not spending their coins that wont make a problem while many others are spending on the other side.

Yes and I think that there are very few people who will prefer to hold them for a long term without spending it, people who believes in taking risks and to make quick profits will surely sell their coins.

Aamir1

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Quote from: el kaka22 on September 15, 2016, 09:03:14 AM

Quote from: ausbit on September 13, 2016, 01:21:46 AM

Quote from: pakitz on September 09, 2016, 10:33:55 PM

i guess most of the miners right now is hording btc and waiting for the jackpot Grin

.. as of today i think the value of btc is getting back to its shape.. the value of btc will surely go up if everybody's saving coins..

Yes, some miners might save some portion of block rewards. But practically all the miners will get only chances to save partial amount of what they are being rewarded from mining as the mining costs will force them to spend some of bitcoins to continue the mining process.

Here too, you we are stating about only few miners not all bitcoin community. Everybody will have some reason to spend bitcoin and saving all the bitcoin is not at all possible for miners as well as for any bitcoin earner. So, when there is no reason for all the people not to spend bitcoins, then we need not to worry about the consequences if that happens.

Exactly, there would probably be users, earners or buyers to spend bitcoin any time as the community is really large so if some of them are holding or not spending their coins that wont make a problem while many others are spending on the other side.

el kaka22

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Quote from: ausbit on September 13, 2016, 01:21:46 AM

Quote from: pakitz on September 09, 2016, 10:33:55 PM

i guess most of the miners right now is hording btc and waiting for the jackpot Grin

.. as of today i think the value of btc is getting back to its shape.. the value of btc will surely go up if everybody's saving coins..

Yes, some miners might save some portion of block rewards. But practically all the miners will get only chances to save partial amount of what they are being rewarded from mining as the mining costs will force them to spend some of bitcoins to continue the mining process.

Here too, you we are stating about only few miners not all bitcoin community. Everybody will have some reason to spend bitcoin and saving all the bitcoin is not at all possible for miners as well as for any bitcoin earner. So, when there is no reason for all the people not to spend bitcoins, then we need not to worry about the consequences if that happens.

richkellj

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Quote from: Monnt on September 14, 2016, 09:46:28 AM

Quote from: richkellj on September 10, 2016, 05:42:42 AM

Quote from: agamasrori on September 09, 2016, 10:28:15 PM

If no one spends bitcoin in long term, that will impact to the bitcoin flow. Its gonna be stagnant and also bitcoin will drop of popularity. But a realise that people still love use bitcoin bicause bitcoin technology is the modern one. And i am sure that online transaction is need in the future. So bitcoin is useful

The question of no one spends bitcoin is highly hypothetical. Practically, there will not be any reason for all the bitcoin holders to save bitcoin for the same period of time. Everyone spends bitcoins for his own purpose but in different time. So, we can not expect no one will spend bitcoin for a particular time duration. An impractical one.

Yes, even we are having the hope that bitcoin will reach an imaginable price levels, some people keep on sending it for their needs. Based on your profession or your wealth level, you will decide to save bitcoin or spend bitcoin, expecting all the people to do one thing (not to spend) is not practically right assumption.

But here, we are discussing if practically everybody taking only one decision with the reason of expecting higher bitcoin value, what would happen?
I expect bitcoin will reach higher price level due to high demand from the rest of the people who are yet to have their first bitcoins.

richmcrich

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Quote from: gandame on September 10, 2016, 04:26:26 AM

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

It is impossible to happen because so many countries that it knows about bitcoin . And not everyone just kept their bitcoin there and there still use it to be spent primarily people whose only income is the bitcoin . So it's not just simply reduce or stop as much support in bitcoin as a major livelihood of unemployed people .

Yes, I have the same though as yours, I don’t say that bitcoin will never have a day that no one use bitcoin anymore because anything can happen out of our imagination and we can’t predict it, but I can assure you that bitcoin is on its way to the top and the number of bitcoin users is growing significantly so that would hardly happen.

mark coins

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Quote from: Lokfar on September 14, 2016, 10:21:04 AM

Quote from: Cozynunu on September 13, 2016, 04:48:33 AM

IF no one spents bitcoins what might happen if you know allot about the bitcoin than you know that coins need to spent becuase the price will rise only if people are not hlding but spending so the price will drop off course.

You are right the price will drop to a lower amount plus the fact is also that its gonna be a lot more difficult to make profit, the bitcoin will get more stable due to this.
I think it will not be very for the economy of the bitcoin itself.

That's right if none will spend their coins then it will have a negative impact on the price of bitcoin and it will take price to a lower level which will make many people to quit bitcoin.

naidray

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Quote from: richmcrich on September 11, 2016, 05:22:21 PM

Quote from: lionheart78 on September 09, 2016, 11:33:53 PM

Quote from: agamasrori on September 09, 2016, 10:28:15 PM

If no one spends bitcoin in long term, that will impact to the bitcoin flow. Its gonna be stagnant and also bitcoin will drop of popularity. But a realise that people still love use bitcoin bicause bitcoin technology is the modern one. And i am sure that online transaction is need in the future. So bitcoin is useful

The same thing i'm thinking. If no one will sell bitcoin, the first effect would be price increase but if people still stubborn enough not to sell any even if the price is rising, the interest will be gone and the investor will look ffor a new investment where their capital will be actively moving to give them profit. So when this happen bitcoin price will decline until no one is interested in buying the coins.

Initially, a commodity will get its price only from the new buyer. If there is no availability of that commodity then there will not be any new buyer. Flow of money is more important, for the survival of any commodity and also for its value appreciation. When more people will not spend bitcoin, initially bitcoin may get high demand, but in long duration if that situation persist it could be assumes some unexpected consequences to happen.

I'm not sure about all the people will not spend bitcoin but we can take a guess work like only 1% of people are spending bitcoin and the rest are saving bitcoin. In this kind of situation price of bitcoin will rapidly grow. Because the zero hour supply will lead to negative consequence whereas very less supply will induce high demand.

HeroCat

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Bitcoin transfer time would be much faster and exchanges can not work, because neither one buy and/or neither one sell. Price can go down Grin

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