If no one spends bitcoin what might happen? - page 63.

ABCbits

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Quote from: goinmerry on September 05, 2016, 09:01:39 AM

Quote from: betohell on September 05, 2016, 05:10:31 AM

Quote from: chousbwxx on September 05, 2016, 01:38:46 AM

It will be void and worth nothing if no one spends bitcoin, you know bitcoin is expensive because millions of people use it(at least half million people use it)

I think people are not spending is when no one accepts bitcoin as a payment option. for bitcoin is still accepted. course, be many people who are ready to spending their bitcoin

That is one problem of many people. Where could I spend it? Well there are now projects that have started to make it more possible. I mean there is purse.io and openbazaar now and I think after this year there will be more than that.

Guess you should check Steam, gyft.io, Goods Section or you just search it at google by yourself.
Services such as gyft.io allow us to spend bitcoin on various gift card, so it means we can use bitcoin almost anywhere.

springgers

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I doubt that is happening right now if it didn't happen before, Now there are established businesses and sites using BTC and therefore BTC is prone to be spent, Before early 2011 and 2010 that might have been a real issue, since there where practically few places where you could spend BTC.

Legasean

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If you are a clever person you will exactly know what would happen to the bitcoin off course the price will drop so many that no one will use bitcoins anymore because they dont even do something with it. And the bitcoin is death thanks.

goinmerry

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Quote from: betohell on September 05, 2016, 05:10:31 AM

Quote from: chousbwxx on September 05, 2016, 01:38:46 AM

It will be void and worth nothing if no one spends bitcoin, you know bitcoin is expensive because millions of people use it(at least half million people use it)

I think people are not spending is when no one accepts bitcoin as a payment option. for bitcoin is still accepted. course, be many people who are ready to spending their bitcoin

That is one problem of many people. Where could I spend it? Well there are now projects that have started to make it more possible. I mean there is purse.io and openbazaar now and I think after this year there will be more than that.

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Quote from: chousbwxx on September 05, 2016, 01:38:46 AM

It will be void and worth nothing if no one spends bitcoin, you know bitcoin is expensive because millions of people use it(at least half million people use it)

thats true in my opinion, i hope that in the future all people will be using bitcoins in order to live a better quality life and make us big profit

hajimasan

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if no one will spend btc then the price may be increase because the btc in the market will be less to able to buy then the price will rise sharply .

betohell

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Quote from: chousbwxx on September 05, 2016, 01:38:46 AM

It will be void and worth nothing if no one spends bitcoin, you know bitcoin is expensive because millions of people use it(at least half million people use it)

I think people are not spending is when no one accepts bitcoin as a payment option. for bitcoin is still accepted. course, be many people who are ready to spending their bitcoin

bithasher

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Bitcoin will not be valuable anymore if no one will use it. What makes something valuable is how much that thing is usable and where can be traded or exchanged for something else or services. Keeping Bitcoin in holdings will not make it more valuable. The more something has acceptance and adoption the more it gains strength and value in market.

maydna

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the rate will be stuck in one rate, just up and down for a bit, not jump in suddenly, and i think the market will be fall too because altcoin is depend on btc and if this happen then many market will close their service and i don't think this will be good for people which holding and keeping bitcoin for just hope that the rate of bitcoin will be jump in the moon.

Braeron

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If no one spends bitcoins whawt might happen dont you know what would happen if everyone is just holding their bitcoins their would be not such a big price of the bitcoin and the price wont rise he will only drop from now for sure!

Bradexterb

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If there where more peopel like you just buying bitcoins never spent them only holding in the hope that there is coming a big rise no there wont come risings because we should spent bitcoins for rises not hold off course.

Icathia

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|If no one spends bitcoins as you say like everyone is holding bitcoins that is what you mean than i can tell you there would not be such a big price for the bitcoins for sure!

Aamir1

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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

People would always spend money though a lot of them may hold some but sometimes you need to spend some of them because of your needs, so i don't think this could be a problem in bitcoin as if there are a lot of people holding bitcoins then a lot of them are spending them too.

Bradexterb

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Quote from: danherbias07 on July 14, 2016, 04:22:23 AM

Quote from: praprata on July 14, 2016, 04:20:46 AM

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

I think that the price is going to be stable then if no one is going to spend a coin and I hate it when the price is stable because it is boring.
I know that you have to be patient with Bitcoin but sometimes the price can be stable for a long time.

I totally agree. I hate refreshing most of the time just to see if it is really not moving. Sometimes I thought my PC is just frozen but when I checked it out it really didn't move. Nothing to do if that shit happens.

If no one spent coins we will not be at the 600 dollar each that would be for sure but what i do know is that when we all will spent coins as maniacs the price will rise allot more from now for sure!

phreaky

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Quote from: Barnabe on July 14, 2016, 04:14:32 AM

Well some people will always spend money, if a big proportion of people don't use it, its price will increase until it reaches an equilibrium point.

The price then will increase and that is when the people are going to sell there Bitcoin because then they can make the most money.
People need to spend there Bitcoin so that is goes around and keep thins running.

JITENDERPAR3

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in my openion there is always Constancy in the rate of bitcoins if the people stop the sell and buy ( because rate of bitcoins directly depends upon the fact of demand in the digital market ) . and in case of US country's people there is also no doubt that they are not using there money . if they will not use than bank will use there in practically .

chousbwxx

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It will be void and worth nothing if no one spends bitcoin, you know bitcoin is expensive because millions of people use it(at least half million people use it)

btvGainer

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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

Yes i agree to much savings will lead to bitcoin devaluation and it could events become obsolete.As with anything, if you dont use it,it will lose its usability and eventually become useless.I think bitcoin should be in circulation

PieCrafted

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You mean entirely no one spends bitcoin? If the demand keeps growing and its still in par with the supply i guess nothing much would change; the price would just keep gradually increasing and the value of your stored bitcoins would just keep growing.

Johann Sebastian Bach

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Quote from: DOGE12321 on August 07, 2016, 11:56:08 PM

I agree with you. In an event of no one spending, any Bitcoin the price would stay stable for a long time. Mining would die off as there are no transactions to verify and the blockchain would freeze. Basically, everything would freeze until everyone begins to spend BTC again.

You are correct, in a way, if no one spend bitcoin then the price will be stable the only problem is that the price will be zero. Currency is not supposed to stay still for longs periods of time it needs to move, it needs to be spend, invested or something.

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