If no one spends bitcoin what might happen? - page 60.

Lokfar

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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.

Monnt

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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.

Cozynunu

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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.

deisik

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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

The first and foremost effect would be extreme volatility of the Bitcoin price. Since you can't get there (where no one spends a single satoshi) with one giant leap, the trading (spending) volume will diminish gradually. Thin markets are prone to huge price swings, so it may well happen that somebody, for example, could actually sell a few satoshis for a few dollars that would be equal to a price of a few million dollars per Bitcoin. Needless to say that in such circumstances the concept of price becomes vague and distorted while its numeric value loses any meaning and reference-ness...

For real-world examples, look at what happens to the price of an altcoin on or near its deathbed

Legasean

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I fno one spents bitcoin the price of the bitcojn will be that low that no one wants bitcoins anymore that is something i could tell you for sure because the price is relevant to the bitcoin.

jacafbiz

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If no one spends BTC and hold it is simple law of demand the price will spike

genos

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Any store can buy, sell, and accept Crypto

It would be bad, because people use fiat is for spends it for daily life. If no one use spends bitcoin, no one would use bitcoin as currency. But the fact is so many people in the world are use bitcoin.

hakanbalta577

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If no one in the world stops using bitcoins suddenly then i think nothing will happen because bitcoin price depends upon buying and selling and if every thing stops then it will stay as it is.The price of bitcoin,transaction fee and anything would become still at the point when last trade happened,it will stay same forever until next trade happens.

chickenmie

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maybe the miners will not receiving miners fee and the block can't be solved because there's no transaction?

severaldetails

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If nobody uses bitcoin as payment, all the payment businesses that work with bitcoin become useless.
I think it would affect the whole infrastructure bitcoin has built up. And the infrastructure is what makes the difference between bitcoin and all those altcoins out there.
In the end bitcoin would become a pure object of speculation, a bubble that would implode someday resulting in a massive dump.

ausbit

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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.

richmcrich

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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.

dragonusa9

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the first thing happen is the price will stay stagnant all the day, and losing it's popularity as the time being.
but, i dont really think someone stop spending bitcoin though. because bitcoin has a lot of advantage using it

Aamir1

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

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 .

That's right, if there are 3 people selling or spending their coins then there are 5 on the other side buying more, or if there are 2 people buying bitcoins then there are quite a lot more who are selling their coins or spending them somewhere so that is always balanced i guess.

richkellj

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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.

gandame

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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

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 .

Viyamore

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If no one spends in bitcoin ,bitcoin will no longer be known or its popularity now will not been taken ,it just because the people or the investors got interested to bitcoins for knowing that they will earn a profit from it compare to the local banks and other investments .maybe it is used only for some trading ,gambling ,hyips and minning sites . Bitcoin will have stable value then .

But if the OP means as they spend then stop bitcoin value will go down as its holders tend to sell their bitcoins.

lionheart78

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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.

pakitz

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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..

agamasrori

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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

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